Business Concepts to Live By
by LynnS | Oct 14, 2013 | General
- Changing careers when you don’t have experience in the one you are moving into. Do everything part time to test the waters before you jump.
- Stopping an advertising / marketing campaign too early. It takes 3 months at a minimum, and usually 6 months before you see the full pay back of what you are doing.
- Measure all your results from any marketing you do. Study your online analytics. Weekly or monthly, review your sales and profitability statements. Create spreadsheets and track all things you do.
- Make adjustments along the way, but don’t quit before 6 months.
- You business should be profitable within 6 months to a year.
- It takes most businesses at least 3 years to really get established.
- Never stop marketing or advertising for new clients. In business, there is no “real” holding steady. There is only moving up, or moving down. Always be pushing and moving up.
- Define who your target market is and build your marketing toward them. Place your ads where they are at and where they spend time online, or offline.
- Never stop expanding your personal referral network. Your best clients will almost always come from your personal network. So, find a way to consistently expand your network by putting yourself into situations to meet new business people.
- If necessary, sacrifice your personal income to keep your business cash flow healthy. Your business comes first when it comes to cash – not your personal desires. Without your business, you will not have a personal income.
- Always be evaluating your processes and strategic plan, but don’t make changes on a whim. Everything must be thoroughly thought through before you make a move.