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15 New Important Lessons for Building a Successful Business
Do you want to create your own business or expand your existing one? Be sure to check out Fifteen Basic Lessons from Subway founder and CEO Fred De Luc. In his book , Start Small, he talks about how small startups are becoming industry giants. This experience formed the basis of the businessman's "Fifteen Commandments".
First lesson. Start small
Some people think that if a small business is not generating tangible income or expanding into an international company, then it is of no use. I do not agree. On the one hand, small can always grow big, and on the other hand, while the enterprise is small, you have time to learn the lessons necessary for future success. Therefore, if you want to create a big business in the end, then it is best to start small. This little business covers all the basics of entrepreneurship and gives you a lot of experience.
Lesson two. Earn a few kopecks
How did you earn pocket money as a child? Maybe they collected empty lemonade bottles and handed them over for a few kopecks? You have learned an important lesson, which says: no matter how much you earn in the beginning, even a few kopecks, but you are learning to earn. Here they are - the first lessons of economics.
Lesson three. Start is an idea
Look around. What can be improved? Where is the free niche? Ask for the opinions of others. You will surely come across a worthwhile idea. Now it seems to us that all big ideas are connected with new technologies, the Internet. Some of the creators of Internet projects became billionaires overnight, but they often started with a simple idea.
Lesson four. Be forward-thinking
One idea is not enough. You have to imagine what is behind it. Let's say you've implemented an idea, and what's next? This "what" is really important. What happens after we start the business? What can he become? What value can it have? How will I benefit emotionally and financially? What exactly in my business will make me act, investing energy and money? The answers to these questions will help you shape the big picture of your business. And, creating it, always think big! Give yourself the opportunity to experience the excitement of the idea and its associated future.
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Lesson five. Believe in yourself
Starting a business is about constantly solving problems that never end. Very often, the future of your business seems highly uncertain. You don't have enough money, you lose customers, suppliers disappoint, employees use your business to their advantage. A lot goes wrong. Then people around you will certainly advise you to forget the "crazy idea" and do something else, for example, find a job! But even in these moments, you should not lose faith in yourself and your business.
Lesson six. Get ready, fire, aim!
Don't be scared if you have little experience. You can spend your whole life on plans and dreams. It is better to shoot first in a general direction and then clarify the target than not to shoot at all. Get started. Move in the desired direction and correct course as you travel.
Lesson seven. Profit or loss
You can sell a lot, but still remain an unprofitable business. There are only two ways to make money: increase sales and reduce costs. Trust me, this is a lesson to be learned as early as possible.
Lesson eight. Be positive
Are there obstacles before you that seem insurmountable? A bad mood will not help you out of the situation, so be positive.
Lesson nine. Continuously improve your business
Those who succeed are constantly improving their work. It is required to introduce new products, new ways of service, look for new entrances to the market, new ways to overtake the rest. You cannot do it once and for all - the process never ends.
Lesson ten. Trust your people
It may not come easy. But the experience of successful people shows: you need to trust your people more ... or blame yourself.
Lesson eleven. Never waste all your money
You can make mistakes, you can have a bad day, a week, or even a year. You may have little money, but you should never spend everything you have.
Lesson twelve. Attract new customers every day
You cannot grow unless new people come to you all the time. It's important to get the word out about your product, invite it to try it, and then turn a one-time visitor into a regular one. And attracting new customers every day is your main task.
Lesson thirteen. Be persistent: never give up
It is perseverance that is the quality that allows people to move and achieve success. If you give up, you will never grow up. Stay true to your plan or goal no matter the circumstances. In business, you have to deal with issues no matter how difficult it is. People who have given up have one way out: start over and try again.
Lesson fourteen. Give your brand a name
It's a fact: despite the higher price tag, branded products sell better.
Lesson fifteen. Opportunities await no one.
When faced with an opportunity, it is very important to be prepared to say yes before the opportunity goes anywhere. This does not mean that you have to grab onto anything. But if you want to start and build a business, then you must answer "yes" to any offer.
Why are these lessons so valuable? If you follow them, you will increase the likelihood of your business being successful. All entrepreneurs learn and apply them. And if you plan to expand your business to employ more than two people, then, of course, you will have to learn a lot more. The book "Start small," is full of inspiring stories of entrepreneurs and points out that it is not necessary to delay the start of his case. It is better to start small and constantly improve your business than not to start at all and put it off until later.