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The best secrets are the simple solutions!
- Have a Plan:
Understand where you are, why you are here, and where you are going. If you don't know where you are headed,
all roads look the same.
- Know you Break-Even Point: How many widgets must you sell to
pay your costs and yourself? How many haircust must a barber do per day to pay his rent and himself? Too many entrepreneurs
work for less than minimum wage.
- Educate Yourself: Learn how to market your product and yourself. Learn to balance your checkbook
(your best accounting tool). Learn basic tax/license and accounting rules. Learn to be successful and compliant at the same
time. Learn effective management skills.
- Price Correctly: Charge a fair price ("fair" to both you and your customer) including a
sufficient mark-up. Stay abreast of changing product costs. True customers don't expect you to work for free.
- Be Wise: Use resources
(especially money and personnel) efficiently and wisely. Use debt only for absolutely necessary items. Hold some
resources for the "bad months". Moderate debt and reasonable savings will carry your business through the
lean times.
- Communicate: Talk with your partners, employees, advisors, and customers. Listen to what they
tell you. They often see key problems and solutions that you have overlooked.
- Maintain Honesty and Integrity: Even in today's
world, people recognize good principles. They will return to do business with those they trust. Don't you?
- Wrestling
with a Pig only gets you dirty. The pig enjoys it. You can't please everyone.
- Got More?: E-mail us
your keys to success, we will add them here!
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