Budget

#whatilearnedinbusinesstoday no 4

You have to have a BUDGET. It doesn’t ¬†matter if you get pocket money or running a billion dollar business. You need to know how much money will come in and how much money are going out every month. You will never get on top of your finances with out a budget.

 

 

Five-Fold-Why you are losing Clients

#whatilearnedinbusinesstoday no 3

It is inevitable to lose customers from time to time, the secret is not to make a habit out of it.

Here is a tool the Five-Fold-Why to help you understand what the underlying reason for losing a client is. Its simple to use. Here is an example.

  1. Why did customers stop buying coffee from my coffee shop every morning? Customers started to work at 8 am instead of 9 am and my coffee shop opens at 8:30 am
  2. Why does my Coffee Shop only open at 8:30 am ? Most customers used to start work at 9 am so that they have 30 minutes to get coffee before they get to work.
  3. Why am I not opening my Coffee Shop 30 Min before they get to work ? There was never a demand for Coffee earlier that 8:30.
  4. Why do I want to open my Coffee Shop at 7:30 when there is a demand for coffee ? That I can get my customers back
  5. Why do I want my Customers Back ? To continue running a successful coffee shop.

 

Running your business is a lonely experience

#whatilearnedinbusinesstoday no 2

Running your business can be a very lonely experience. Make it a top priority to connect with people in the same industry that you are. Connect with them at seminars, on-line, blog’s, Linkedin, Twitter, Facebook and on any other social media platform. Start or become part of a study or master mind group. They will show you what they are doing. They will give you new ideas. They will tell you what is going on in your industry, what’s new and what’s outdated. Learn from them, improve on them so that you can be better than them.