- It’s Great Being Small – I like to keep my businesses small and close to my chest. It doesn’t mean I do the work, it means I contract
people to do it for me as a rule. Being small allows you to make decisions quickly and move faster than the big guys. Have a product that is not selling? Dump it – Now, you can do it. Imagine the other big guys making the same decisions that take weeks because they have decision by committee who must do a study, analysis then a report before making a decision, ahghg.
- Don’t Be Afraid â€“ You’ve already taken the first big step, you’ve decided to start your own business. What’s the worse that can happen, lose your shirt perhaps. But hey, been there done that a few times. Fear leads me to my number three tip.
- Failure Breeds Experience which Creates Success – As Zig Ziglar once said, “If you learn from defeat, you haven’t really lost.” I’ve given so many speeches about starting your own business I must tell you that the response I get when I tell people about my failures creates more buzz than you can imagine. I’ve raised hundreds of thousands in days for a business and closed the doors a year later without selling a thing. Is that a record? LOL, no but it goes to show that failure gives you more tools to work with and it’s called what not to do the next time. If you fall down a couple of times and learn from it you will be successful. I’m not saying you need to lose your first or second business, consider that maybe you’ve made a couple of mistakes on your new business and you learn from it. That’s the point.
- Act on Your Impulse – If you think that new product you’ve added to your line is incredible, tell the world, maybe your instincts are correct. Don’t be afraid to get it out there. Equally don’t hesitate to stop an action you’ve begun that isn’t going anywhere.
- Procrastination â€“ I knew an entrepreneur who spent months doing market research on a new product and eventually, after incredible research showing him the product was in demand, quit his business and went back to school. The problem â€“ he wasn’t an entrepreneur. He delayed his business opening by doing impeccable research â€“ its called avoidance. This would be the time to decide if you really are an entrepreneur.
- Guerrilla Marketing – Five short years ago it took considerable money to launch your business in the form of brochures, business cards, complex websites and so on. Today Social Media Networking allows for a blog to be made for a few hundred dollars that you can easily manage on your own, QR codes instead of brochures and Social media sites that get you around the world in seconds. Utilize them, abuse them that’s the fun of being a guerrilla.
- Coffee Buddies -Stay away from those who think they are entrepreneurs but live precariously from gleaning energy and ideas from you. A one hour coffee shooting the breeze costs me hundreds of dollars so its important for me to prioritize my time. People need people, don’t get me wrong but understand some people want your ideas and some just want coffee because they have nothing to do and nothing going on in their business.
- What’s Your Focus? – A former client told me the other day that his moving business has gone crazy in the last 3 years since he started. He told me he doubled his revenue in the second year then decided to hire someone to take away the things in his business he hated doing like accounting, sales calls, and collection. With the new hire in place for one year he doubled the company revenues again. Great thinking!
BizQuote – Whenever you see a successful business,
someone once made a courageous decision.
Want business help? Call me 604-805-2025