Ten Essential Items for Starting a Business
If you’re thinking of starting a business, you’ll want to keep the following ten things in mind at all times. Each item is a difficult and complicated undertaking in it’s own right. And you will be responsible for all of them – and many more besides.
Note well, #10 on the list: Get a Coach. Getting a coach will help you overcome individual obstacles and provide much needed structure and accountability as your project grows and matures. A coach is a personal adviser who will help you maintain clarity, focus, and productivity – all essential to successfully executing the list below.
The list below is a simplified version from the larger article. Read the whole article (link below) for the author’s further insights into each item.
1. Offer what people want to buy, not just what you want to sell.
2. Get cash flowing ASAP.
3. Always find new ways to keep costs low.
4. When planning, always overestimate expenses and underestimate revenues.
5. Focus on sales and marketing manically.
6. Find ways to exponentially increase profits. In business, there are five drivers that impact profits.
7. Test and measure everything.
8. Accept that learning more equals earning more.
9. Don’t discount, add value.
10. Get a coach.
Can you think of any others? If you think of something that is missing, please comment on this post.
This list was put together by Brad Sugars, founder and chairman of ActionCOACH, and originally published on Entrepreneur.com. Read the whole article by clicking here.
