4 maxims of highly successful businesses
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4 Maxims Of Highly Successful Businesses
2
•Starting your own business can be
quite a hairy proposition and you are
entering the neo-liberal market place, a
place wrought with dangers, speed
bumps and never ending wells of
disappointments.
3
•Getting started on
your money making
venture is not easy
– allow me to
reiterate that one
more time. Not
easy
4
•The competition is stiff even in the
most niche of markets and you really
have to give it your all and work hard
before you can start seeing results.
5
•While there are hundreds
of pages of advice I can
impart on anyone wanting
to start their own business,
here are 5 tips on starting
your own business that you
can use.
6
•One. A focused strategy. Your
business model must have a strategy
that is focused and that is detailed.
7
•You must know exactly
what you want to do and
what you have to do to get
it. This is not a one page
report and the more
detailed it is, the better.
8
•Don’t skimp on even the smallest
things, because it can be your undoing.
9
•Point A must be your
groundwork, point B your
core strategy and Point C is
the profits. All successful
business are surviving on a
focused strategy, one that
can be implemented easily.
10
•Know your role. Especially when you
entering a partnership, it is important
for you to know what your duties are
and the role you are going to play in
the business.
11
•Don’t deviate but
don’t be afraid to
diversify when you
need to.
12
•When everyone can play their part and
play their part well, then the business
will be well on their way to writing the
chapters of success
13
•Have everything in
black and white. Write
everything down. Deal
with clients through
emails and documents
are your friends.
14
•This raises the level of accountability
on both the clients and the business
side and you will have something to
fall back on if anything goes wrong.
15
•It also gives you
a clear idea on
where the point
of weakness is
and how you can
repair it.
16
•Excellent money management is
absolutely essential in starting a
business.
17
•Research the
market and ensure
you are getting the
best quality at the
best price you can
get that quality at.
18
•Every dollar in the world of business
is crucial and you should not be
frittering investment and development
dollars away at non essential items.
19
•Have a stash of
risk capital at the
ready
20
•This is important when you need a
bailout or when you need to pump in
money quick to either make the business
resurface of change the strategy to hit an
emerging market.
21
•Having risk
capital at the side
means you have a
backdoor in case
things get awry.
22
•These are just some of the quick
points to note when you are thinking of
starting your own business.
23
•The last advice I will give
anyone is not to rush into
things and attack your
business plan from every
angle possible, only then will
you find out the flaws before
they find you.