……ITS TOUGH!!!8 Rules of Starting a Business

1. Has your business got a beating heart?

• Do you have a great idea?• Is is truly distinctive?• Is it just the same?

If its not different it needs to be cheaper!

Be in love with what you do!

Beating hearts keep motivating & inspiring!

2. Gain customers at an impressive pace……

Not about sales its about great customers!

Customer acquisition & retention

It’s not about the numbers but what you do with them

Customer experience!

Grow the business thru’ by each customer

3. Build credibility then communicate it….

Scrapping for attention can destroy reputation

Credibility is what sells

Credibility fosters trust

Credibility supports WOM

Trust is scare, credibility enhances

Communicate it…..

4. Add value….

Add value to people

Focus efforts on where you can really add value

Outsource the other stuff

Understand talents and ‘gifts’ then do them

You are not a ‘jack of all trades’

5. Who is your caddie?

No such thing as a sole entrepreneur

This is one of your first moves

Think like a sportsperson

Be careful in your selection

Never rely on friends, family or anyone that has not been in pain

6. Hold your nerve….

Learn this skill quickly

Things will not go as well as you thought

Manage the highs and lows

Don’t underestimate how emotional it is

Persistence is incompatible with failure

7. Chase cash not turnover….

Cash – profit - turnover

Choose customers carefully

Watch cashflow like a hawk

Cash is different than profit

Chase debtors

Reserve for a rainy day

8. Things to do…..

Barriers to growth

Customer by customer

You are more important than the product

You are not going to get rich quick

Customer experience

Hold your nerve

Any Questions?

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