4 maxims of highly successful businesses

4 Maxims Of Highly Successful Businesses

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•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.

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•Getting started on

your money making

venture is not easy

– allow me to

reiterate that one

more time. Not

easy

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•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.

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•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.

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•One. A focused strategy. Your

business model must have a strategy

that is focused and that is detailed.

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•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.

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•Don’t skimp on even the smallest

things, because it can be your undoing.

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•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.

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•Don’t deviate but

don’t be afraid to

diversify when you

need to.

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•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

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•Have everything in

black and white. Write

everything down. Deal

with clients through

emails and documents

are your friends.

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•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.

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•It also gives you

a clear idea on

where the point

of weakness is

and how you can

repair it.

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•Excellent money management is

absolutely essential in starting a

business.

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•Research the

market and ensure

you are getting the

best quality at the

best price you can

get that quality at.

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•Every dollar in the world of business

is crucial and you should not be

frittering investment and development

dollars away at non essential items.

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•Have a stash of

risk capital at the

ready

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•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.

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•Having risk

capital at the side

means you have a

backdoor in case

things get awry.

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•These are just some of the quick

points to note when you are thinking of

starting your own business.

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•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.

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