If your young or old and you want to start a business here’s how you can get going!
Starting your own business!
- Learn how to sell
- Learn basic company finances
- Learn how to understand business credit
- Learn all about your weaknesses
- Learn how to hire great people, especially those who cover your weaknesses
- Learn how to leverage your time
1. Learn how to sell – Most of this you can learn as you go, but learning how to sell, like today, is going to be most important. This will pay dividends over the years. The best things to learn is how to provide solutions to problems, rather than selling, and creating Win, Win opportunities for all concerned.
2. Understanding company finances – This is important. Just because you did £100k in sales and you have £150k in the bank doesn’t mean you actually have that money, you might even be bankrupt! You need to learn about cash flows, Balance sheets, profit & loss sheets etc. Because knowing your numbers is important in any business.
3. Understanding Business credit – most company owners don’t know about business credit and will only find this out once you start to really grow as a business. Then you’ll realise it is holding you back but it’s dead easy to learn more about, so why not head over to youtube to do some quick learning.
4. Understanding Your Weaknesses – Understanding what you are bad at now, will prevent you from crashing your businesses for dumb reasons. Its important to know what you are bad at, and to see if those failing will harm your business. It also helps you when it comes to recruitment as you can cover those weaknesses with some great hires.
5. Learn How to Hire Great People – Never be the smartest in the room!. This is like the exact opposite of every small business around the World, and that is why they are small, you are only as strong as your weakest link. If you don’t hire smarter than yourself you will never grow.
6. Learn to Leverage your time – Learn to disconnect yourself from the revenue of the company, If you are the ‘closer’ in the company you only have 24 hours in a day, you will never grow. You need to leverage other people, delegate lots of your work and create great systems and processes that everyone can follow, so that you can free up your time to work on your business and not in your business. Always learn how you can leverage your time more and more to get results without having to do so much.
Finally, just get on and launch your business 🚀 !