Your business will be successful, generating steady, predictable sales and cash flow, to the exact degree to which you develop systems that put as much of your business on autopilot as possible.
A system is a step-by-step process, from beginning to end, that you use to ensure consistency and dependable performance in every area.
Every new business or business activity requires tremendous time, effort, expense, and even “genius” to learn and develop for the first time. But once the system has been developed for the first time, through trial and error, it can eventually be systematized to the point where the business activities can be carried out by ordinary people.
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When you decide to start your own business, you can do it impulsively because of a significant emotional experience or event in your life, like the loss of a job or the appearance of an opportunity, or you can do it slowly and deliberately by spending several weeks or months in study and preparation. In either case, investigate before you invest. … Read more
When you begin your business, you must practice the “Two times, three times rule.” This rule says that, no matter how conservative your financial projections, everything will cost you twice as much as you have budgeted for and everything you do will take three times as long…. Read more
When you decide to start your own business, begin by reading several books on small business formation. Some of the best books ever written are on the bookstands today. Read about every single aspect of market planning, market research, financing, delivery and distribution systems, people, processes, promotion, advertising and especially sales.
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How do you find a business? There are a hundred different ways. But the most important of all is that you get into something that you really like, enjoy and care about. Passion is the critical factor in determining small business success…. Read more