Being a successful business professional is something every entrepreneur wants to achieve. Yeah, you went to school for business and learned a whole lot from the books. But what about the things they DON’T teach you in school? They teach you the important basics of running a business…
Learning just the basics isn’t enough. There’s more to the formula of business success schools and lecture halls cannot teach you. You can only learn it from one way and one way only, and it’s called “Experience”.
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Trusting Your Gut
Everyone’s heard of this phrase, but, do they REALLY understand what it mean? It can be a valuable decision making tool if applied correctly to. So what does it actually mean when we say “Trust your gut?”.
Here are some excellent examples:
Ever done something that made you go, “Darn! That was a bad idea”. You knew it was gonna happen but you didn’t listen to your gut and did it anyway?
- Example #1: You sent out some e-mails to potential clients, you knew you should have double checked to where the e-mail was getting sent to, but you didn’t and now the wrong person has that e-mail. Should have trusted your gut to double check!!
- Example #2: Your gut told you to fire that incompetent worker months ago, but you didn’t. Now the project is due to present to the client and the idiot done nothing for the past few months. Should have trusted your gut and hired a new guy months ago!
Trust your gut and attend:
You Really Don’t Know What You Don’t Know
If you don’t know something, don’t just guess, do additional research and learn it. There’s no such thing as shortcuts when it comes to success. Your work and dedication will defiantly show through your company. A strong foundation is key. If you’re unsure of something, don’t make any hasty business decisions until you’re 100% sure on something. Even if you’re 90% , don’t do it.
Budgeting & Knowing Your Finances
You can’t run a business if you can’t budget. How are you supposed to pay your employees and keep the lights on with no money? You can’t. You have to know how much revenue your business is raking in. Not only that but you’ll want to know how much is going back into the business. You’ll also want to know how much of that is profit. So lets take a look at some variables you need to be looking for when budgeting for your business:
1) Cost of employees
2) Maintenance fees; in case the computers / registers go down, leaky faucet, etc. etc. Remember, anything could happen.
3) Amenities like electric, water, internet bills / toilet paper, Windex, paper towels
4) Costs of goods and services to run your business. If you’re a re-seller then the cost of goods for re-sale.
5) The cost of things needed to keep the business running, for example; if you’re a restaurant the cost of plates, napkins, silverware, etc. etc.
Depending on what kind of business you’re running, these are only but a few things a an owner of a company need to think about when budgeting their business for success.
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Protect & Defending Your Property
What do we mean when we say “Protect & defend your property”? Defend what’s yours from idea stealing thieves. They are all over trying to grab other people’s ideas and re-sell them as their own. If you have product you’ve worked hard designing, patent it!
If you have an awesome catchy company / product name, make sure you trademark & patent your product’s name. When you patent and trademark your product you are making it more difficult of someone stealing what’s yours. Claim what’s yours!
In a society ran by tech, it’s common for business to get feedback (reviews) from customers. Whether it be on Facebook, Google, or Yahoo, listen to what they say and take it into consideration. If there’s a common issue with multiple customers on how you’re business is ran, there’s something you need to change in order to have re-occurring customers.
- Listening to your employees is also a good idea. Listen and take things they might say into consideration. Maybe there’s something the company is doing that’s outdated and needs an upgrade. Could be the services provided, the registers are too old, maybe they need newer and faster internet to run the computer better.
The Problem Could Be you!
Yeah, we all go through bad employees every now and again, mistakes happen and things don’t always go as planned. Orderly things in the company can fall through and not everything is perfect.
- However, if things in the company keep going down-under in a repetitive pattern where employees are making the same mistakes over and over again, there’s a possibility it could be the way policies / duties are delivered.
- Meaning, maybe the business needs to change the way they do things in order to move it towards a positive direction. Could be the way you train new employees, make sure management is doing the job correctly, or maybe it could be you. Possibly not giving management the room to wiggle with the way they need to do things in order to make things successful.
What can you do about this? Have a meeting with your managers and another one with your employees. Ask questions, listen and reflect on what the company needs to run as a flowing business. There will be times where your workers might think they know what they are talking about, but they really don’t. Still, you need to keep and ear out and take things into consideration just in case! You want to always move the business / company forward.
Last But Not Least…Transportation!!
Transportation is one of the most important factors when running a business. You’re always on the go whether it’s for a business meeting with a potential client, meeting up with a fellow business partner for a quick lunch, making connections with other business CEO’s to establish collaboration between companies, or even interviewing someone for advertising.
Whatever the reason is, A1A Limousine Service provides only but the best ground transportation services there is to offer. Whether you are just meeting someone for a business meeting, corporate events or picking you up from the airport, we’ve got you covered. Expect nothing but luxury!