The tips in this article are aimed at small business owners, especially those who have just started their activity or are about to start any minute.
1. Selling to the wrong people
The fact is that sales are important for the survival of any business, but that does not mean you have to promote your business at any cost to everyone you meet, including and in front of friends and family members. Furthermore, a waste of time to try to sell what you offer to people who simply do not need him
Feel completely free to say "No" to customers who will bring more problems than benefits. Leave competition to sell to such customers. You'll save yourself a lot of headaches and will free up more time to focus on the best customers.
Learn to say "No" to the wrong opportunities you remain capacity to say 'Yes' to the golden opportunities.
2. Do you spend too much money
Until we manage to establish a stable cash flow does not spend valuable start-up capital, unless it is absolutely indispensable.
An entrepreneur relates her experience "Start a computer business with around 20,000 dollars in cash (equity) and everything started to develop quickly. Soon after that I had to use credit to finance operations. Unfortunately, the original business model did not work and my business took him five years before they start generating positive cash flow. I soon learned that every dollar invested in business is another dollar to be back by sales.
An entrepreneur relates her experience "Start a computer business with around 20,000 dollars in cash (equity) and everything started to develop quickly. Soon after that I had to use credit to finance operations. Unfortunately, the original business model did not work and my business took him five years before they start generating positive cash flow. I soon learned that every dollar invested in business is another dollar to be back by sales.
In 2004. I started a business in the field of personal development with only 9 dollars in cash, although you can spend a lot more about it. I had no modern logo attractive web design, business cards or office. I paid for a domain registration site, and that was all. So I wanted to spend before you start generating positive cash flow. All the rest of my business expenses incurred as a result of this cash flow. -
Business you have to carry your money in your pocket, so before you "invest" money in it, be aware of how you will restore them back.
Obviously some types of businesses require a lot more money to run, but in the era of Internet business can more easily start a profitable business with minimal funds.
3. To spend too little money
It is a mistake and too stingy in terms of cost. Do not let your thrift interfering with the efficiency you.
Take advantage of the services of the best professionals to do certain tasks better than you.
Buy good equipment or technique, it is obvious that it is worth and that will benefit from this.
No need to spend too much for the beautiful furniture, but instead furnished with functional furniture to help you more productive.
Do not use an antique computer with outdated software that they constantly delayed, if you can afford something better.
It takes time to build accurate assessment when too tight or too slack in terms of costs.
4. To go against your intuition
Intuition is important in business. You'll be amazed how many transactions in giant companies happen because this gut their executives. You might think that logic is the language of business, but this is far from reality. If you based all your business activities of the iron logic and ignore your intuition, most likely you will enter the world of pain.
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SOURCE: Olblog
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