Hopefully you’ve been thinking and planning for ages, you have logo, accountant a big fat reason why working for yourself is better than working for others
Day 1: Sell your product or service… note:only money in the bank is money in the bank!
Day 2: Sell yourself to prospective clients for minimum 4 hours… interview accountant, setup bank,
Day 3: Sell yourself to prospective clients
if you learn something, do something with regards to marketing everyday for at least an hour and invest 10% of your profit into marketing you will have an amazing business 🙂
The smae goes for learning how to sell and communicaten effectively with people…
One of the most rewarding propositions in business is to earn more money and be independent.
so why do so many people end up going out of business and broke within 5 years!
It’s simple really, not enough startup funds or cashflow, not enough of the skills that it takes to be successful.
- finance… math skill
- self control/belief
- leadership / comunication
- target oriented
- logical & imaginative
- Action….. consistentcy
- fit (to deal with stress)
- stress management
- healthy home life
- zero vanity or not allowing yourself to be disrupted by the thoughts and feelings of others without the correct knowledge ( but cleanliness & dressing for the job are essential)
only 3 ways to grow a business
- more customers
- increase purchase frequency
- increase average spend
& not often talked about in small business, growth by acquisitions
where do we start….
Vision, from there we take action, gaining knowledge and valuable experience that leads us to better decisions and strategies….
The fundamentals of business and commerce….
You buy in bulk or at a reduced price (wholesale) and resell at a profit (retail)eg you buy a kilo of coke from a drug lord and subdivide into grams and selling in smaller lots for a premium(highly illegal & I wouldn’t recommend it, just wanted your attention).
How much do I charge… I would say “what will the market place stand” think of coffee it retails in a supermarket at the moment for around £2:50-£3:50 per 100 gram jar(2017 date of writing) however a typical coffee shop will charge £2.75 for a latte… or high class hotel will potentially double or triple that because of service 🙂
Service… I love service because that is value added…. in other words where you can charge more money for the same thing!
Money can be attained by exchanging products or services with your core customer. To obtain vast amounts you need to leverage time, money & energy.
Businesses don’t fail by themselves… it takes 3 things
You might lacklustre, skill or a vision for the business, which puts the business in an inevitable downward spiral.
Your staff are poison or lacklustre, leadership, training or just sort by selves.
Your customers are going elsewhere because you are not visible or your service or product suck, typically price is not the problem as there are people for Kia & Rolls Royce out there, it’s all about positioning!