Modern Way How To Run a Profitable Business
- A business is a commercial, profitable enterprise that works without you. Normally, people with jobs earn money, people in their own business make money, and entrepreneurs create money. Working from 9:00am till 5:00pm is like the carpenters that don’t run their businesses. Instead, they spend all day using a hammer and nails, working in their business.
- Many business owners work so hard (too hard) for this exact reason. Their businesses don’t work; they do. Everything about the businesses is in their heads, and they’re the only ones who can do anything, so they’re trapped. Most owners are like this because they don’t trust anyone else to do the job. For some reason they believe that no one can do it as well as they can. They have to be in control.
- All great leaders and business-men are good at delegating, so start off-loading some of the tasks now! By the way, once you’ve given them the job to do, let them do it. Don’t jump in and save them; that way they’ll never learn how to get the job done. All they will learn is that you’re the only one who can fix things, so you always will. Remember, sometimes you have to let them fall off the bike to learn how to stay on.
- Don’t just satisfy the customer a satisfied customer never tells anyone about you. Give them something more than they expected, go the extra mile, delight them so that they send their friends your way. This is the secret form running a profitable business.
- Leverage to have more. Leverage is simply the ability to do more with less. You see, employees earn money and business owners make money. Now take that one step further: Entrepreneurs and investors collect money. The aim of the game is to create an income stream that flows whether you work or not. Build assets that yield income.
- With information moving so fast, people can copy, reproduce, and have ready for sale any product or service in a matter of weeks.It therefor means that you can’t be cheaper than your competitors for long. You can’t be far better than anyone else for long, so you’ve got to know that information is the key to business success.
- The only way you can stay ahead of the market and run a successful business is to outthink, outsell, outmarket, and outmaneuver your competitors. Marketing is crucial. You don’t have to have the world’s best hamburger to sell billions of them.
- So many people rush in and start digging for gold, and yet the people who make the most money don’t have to work hard all day digging for customers; they just need to find a massive flow of customers and help them to buy.