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How To Create Your Own Product Or Service (Part 2)
In the first installment to this series, we looked at creating and marketing your own info product. I gave several concrete examples of info products I created with very little investment of time or money which sell with tremendous success. If you...
Lessons From a Six Year Old
My 6 year old daughter Emily knows exactly what she wants to be when she grows up. Two weeks ago she knew that she wanted to be a teacher. Last week she knew that she wanted to be an Olympic swimmer. This week she knows that she wants to be a...
Make More Money with Marketing Metrics
Do you know how effective each of your individual marketing tactics is? Many small business owners market in a vacuum. They spend money on brochures, advertisements and web sites with no real way to tie specific results to specific endeavors. If...
Making Money in Your Underwear! The Jeff Paul Marketing System
No, no! I’m not talking about “how to make money by selling underwear’s on the Internet” I’m talking about Jeff Paul, the super marketing guru of 90’s who shouted “How I Earn $4,000 a Day Sitting at My Kitchen Table in My Underwear?” But it’s a...
Three Foundation Stones for Building Organizational Integrity
When the stock market crashed in 1929, there were a lot of people who lost everything they had. You would think that the result of that event would be complete and utter despair. And, in fact, there were those who reacted that way. There were...
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THE FOUR THINGS YOU NEED TO SUCCEED
Essentially, there are only four elements to being successful
in a business, but these four are absolutely indispensable.
1. Education.
You may be able to start a business without knowing much
about the particular field you've entered, but you won't
last for the long haul if you don't learn everything you
possibly can about it. Getting educated will require
reading, attending classes and seminars, and doing research
- on and off-line. Not only do you need to learn everything
you can about your particular industry, but you need to
stay current in it, as well.
This need for education extends to anyone who works with
or for you, too. Training is an essential component of
whatever you have to offer an employee. With most industries
changing at the speed of light, you can never be 'too'
knowledgeable in your area of expertise - and everything
you know about it may give you an edge over your competition.
2. Technology.
You must have all the tools you need to succeed. Very few
businesses can make it on 'brawn' or even 'brain' anymore.
It is essential that you take full advantage of whatever
technology is available to you today because if you don't,
you can be assured that your competition will. And again,
it will be vitally important to keep abreast of any changes
in that technology, too, and be prepared to upgrade as you go.
3. Positive Cash Flow.
This is, of course, the one thing that everyone gripes about,
worries about, and loses sleep over - and many people who are
in business don't even know for sure what it means. Put simply,
having a
positive cash flow means that you have more money
coming in than you have going out - not necessarily on any
given day, but generally, over a month's time or even a year.
It also means that, sometimes, if you have to juggle from one
area of the budget to make up for a shortfall in another area
temporarily - you've got the cash to do it. Or, if you have to
put out a great deal of money for seasonal inventory, for
example, but you won't make it back in sales for several
months, you can manage - if you have a positive cash flow.
4. Mission.
You may think that your business will 'make it or break it'
based on your cash flow, but equally important to the
successful life of your business is its mission.
What is it that your business is setting out to accomplish?
If you are not too sure about what your company's mission is,
think of it this way. Your business - whether you are selling
widgets or words - will not succeed unless it is filling a
consumer need. Consumers have needs because they have
problems that must be solved.
So, quite simply, if your business can provide a SOLUTION TO
A PROBLEM, you'll succeed. Write out a mission statement
detailing what the 'problem' is, and how whatever your
company has will solve that problem - and you've got yourself
a mission statement.
Keep these four things in mind throughout the life of your
business, and you're bound to succeed.
About the Author
Josie Ash has paid attention to the four things she
needs to succeed, and the results are a small business of
her own at http://www.retirequickly.com/16271
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