Growing your Business !!!
from (believe it or not) Toilet Paper Entrepreneur.com 21 May 09
In a way it makes sense. No job is complete, until the paperwork is finished. Peter\Wiz4biz 5/14
How NOT to grow a Business !!! Work your butt off until you can’t take any more. Unfortunately that is what most people do. The good news is there is a better way. Scratch that — there is a “much” better way, and here are 11 tips that will get you started. Pay special mind to tip # 8, there is nothing more important.
1. You’re a Team. Build a Team rather than hire employees. Create an inspiring Vision, then don’t hire anyone for your team, unless they are impressed by your Vision. People who share a common Vision will work harder, for something greater than money. Building a culture where the Vision is the motivation, will build your business faster, than a culture where money is the main motivation.
2. Shared Risk/Reward Pricing Model. A pricing model that has a shared risk/reward component lowers the Customer’s risk (& costs) up front, in exchange for sharing in the revenue upside. This kind of Partnership aligns everyone’s interests and is simple to administer. It’s a great way to scale.
3. Cash is King !!! Healthy Cash Flow (& preserves, no, reserves) allow your business to weather sudden increases in business & fund expansion. It also helps insulate you from the effects of a sudden downturn in business (as shown by recent economic times). While challenging with limited resources, remain “frugal” – always. Like a Scottsman.
4. Hire People you Trust. Hire people you trust and then trust them to do their jobs. You can’t scale your business up, if you’re going to keep running it like a One-man or Mom & Pop shop, where you have to do or micro-manage every thing. Build a talented team of people and then focus on your own role — which is to provide Vision & Leadership + look for new opportunities.
5. No Salary? No Problem !!! Ignore your pre-conceived notions of what you can and can’t do based solely on money (or lack thereof). All the people who answered our Craig’s List Ad said they would LOVE to (and PREFER to) work on a Commission-only basis.
[ 6. It’s not just about You, 7. Go with the Flow, 8. Systems, Systems, Systems, 9. Duplicate Everybody, 10. Have Passion or Get Out. 11. Entrepreneurial Minds in Premium Content ]