The 32 Factors Every Business Needs to Control

November 6th, 2007

Zander

Posted in Business Essentials

Working ON your business, not IN your business.
You must have vision of where you are going and the passion not to let anything stop you. Much will get in your way, but nothing will stop you.
On your credit line, pay it down, pay it off ASAP, this is a loan not money in your account at the bank.
You need a business plan. Would you get in your car and just start driving without a destination and a direction in mind?
You cannot do it all, so focus. If you don’ define and refine, no one will know what you do.
Sales is not marketing. Just because you were an executive, even if you where in charge of sales, it does not mean you know how to sell.
Get to know other business people. It will save you time and money. Help others, it will payback 10 fold.
You must have a mentor and a coach that you listen to.
You need action and execution plans at all levels.
Making money is the most critical measurement you have. Don’t lose site of this. You are not in a large corporation with an everlasting cash flow.
Without measurement you will never be successful in the long run.
Make sure someone is holding you accountable- even though it is your business.
Friends are great, but in business you need the best person for the job. Put the right people on the bus.
Always try and get as much cash up front as possible.
If you can’t do it right, do you really think you will have time to do it again?
Pay your bills early or on time. If you can’t, call and let them know.
I do business with you; then you need to be doing business with me.
You need to lead.
Do what you do best and Delegate the rest.
Success comes to him who is persistent.
The Wait Rule, delayed gratification.
Test it, check it, demand proof; Don’t settle or pay for possible.
Keep all control, share all profits.
Partnerships are more risky than marriage.
Priorities – Get them straight before you go into business, then live by them.
After all your research work and planning – Double the expense, half the revenue.
Explain the time and commitment to your family, get their buy in; do not proceed with out it.
Have a budget, stick to it. Manage by it.
Sales projects must be justified and production costs must match them.
Have the right insurance – Get the right price.
Get organized or find someone to do it for you.
If you think “if this doesn’t work, I will just get another job,” it will never work.