When you're at the helm of your own business, you'd better be running a tight ship! Otherwise, you could find yourself sinking... the sharks circling, no lifeboat in sight! Oh no! How to avoid this dreaded fate? Know your exact location on the map! I like to call this determining your financial longitude and latitude. Successful entrepreneurs don't just know where they're going and where they hope to be. They also know where they are right now, in real time!
Now that I've used all my nautical metaphors, let's talk in landlubber terms. (OK, I guess I haven't used them all?) When it's your own business, you've got to be careful about how your spend your time and money. You can't rush into a deal simply because it sounds fun. If the deal is bad, trust me! The fun won't last long! Nor can you spend all your time on the glamorous aspects of your business. If you don't tend to the minutiae of tracking spending, finding out what your customers want — boring stuff like that — things will soon look pretty shabby. Or should I say tattered? Weathered? Like a frayed sail? I can't stop...!
"But that's not fun" you might say! Well, it probably isn't. But it is important. Big time important! Knowing where your business stands at all times is part of being the captain and not just a mate. It's not always easy... wait, I meant to say smooth sailing... running your own business. However, I doubt you started your business because you thought it would be easy. Rewarding? Yes. Easy? No!
Chart A Course For Profits & Success!
And the metaphors keep coming! To help you navigate the rough seas that sometimes hit when you're running a business, we've got a roundup of quotes from some of my favorite authors (including yours truly!). Successful entrepreneurs follow these guidelines; you should too! The Richest Woman in America, by Janet Wallach, tells about the life of Hetty Green who was a resilient pioneer for women in business worth millions (which today would translate to BILLIONS!!!) at the end of her life. Also, check out 57 Fascinating Business Facts That Will Blow Your Mind from BuzzFeed News.
I'll say it forever...everyone is so proud of being so "busy"...But Are You Making Any Money? Don't be too busy to focus! Know where your business stands financially and you'll be in better shape to move forward!
Check out the summary of last week's business tips and motivational quotes from my Instagram page which you hopefully got to see in real time! If not, let's make sure we're following each other on Instagram!! So...here is this week's roundup of Instagram images of My Top Business Tips and Motivational Quotes.
Successful Entrepreneurs – Tip #1:
"Know your numbers and margins first before the fun and decorations!"
Successful Entrepreneurs – Tip #2:
"Stop being busy and start creating cash. When you really pay attention to the hours in your day & how they are actually spent, you're going to be shocked at how much time you're wasting!"
Successful Entrepreneurs – Tip #3:
"Happy customers won't be able to live without your services."
Successful Entrepreneurs – Tip #4:
"Before deciding on an investment, seek out every kind of information about it."
Successful Entrepreneurs – Tip #5:
"If you have $10 in your pocket and no debts, you are wealthier than 25% of Americans."
Do you have a plan? I want YOUR stories on being a successful entrepreneur!
Do you have a story to tell about running your own business? Which tips above did you find helpful? I would LOVE to hear from you!
Anyhoo...I publish these business tips and motivational quotes to get you fired up for your work week! And, if you want more business tips, get my book, But Are You Making Any Money? or contact me to really take your business to the next level!
Oh hey, are you in desperate need of simple and easy steps to attract clients you love, create a pricing strategy and ditch the door knockers? Then you've come to the right place! Get it here for FREE!
P.S. Of course that's not all we've got! Searching for more small business tips?
Then definitely take a look at these: