1. Set specific financial goals: 3-6-9-12 month goals. 2-5-10 year goals. Write them down, visualize them!
2. Offer a superior product or service: What makes you different from the rest?
3. Start small and grow slowly: Don’t over reach. You are not competing with Microsoft or Google! Learn your business, be patient, and invest your time. Finance your own business instead of borrowing.
4. Test before you invest: Before you make any major move or invest any significant amount of money-do a trial test. Don’t be impatient. Do your homework. You won’t regret it! 99% of new ideas in business do not work.
5. Grow from you profits: Only expand our business from money that you have earned in your business, not from borrowing from a financial institution. This will force you to be creative.
6. Select people carefully: Be slow to hire and quick to fire! Watch who you associate with. Deal only with people of integrity. Harvey Mackey, noted business and author, said he spent 6 months looking for a salesperson for his company, interviewed 35 people and did not hire anyone.
7. Use financial leverage: Cash flow is key. Your goals is to develop a steady and continuous cash flow. If and, I stress If, you ever need to borrow money for expansion, you will have a good financial record to negotiate with lenders.
Get ready for SUCCESS !
Jacques
CreatingWealthThatLasts
1 comment:
Great tips! Very helpful. I like the one on "Be slow to hire and quick to fire!" I see people do the opposite all the time.
Thank You,
Giovanna Garcia
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