There is no magic formula for having success in your small business.
It’s a combination of hard work, determination, strategy and luck.
Some of these business tips will work for you, and some won’t.
This article (like all learning out there) is best taken as a smorges board: Take what you want, leave what you don’t.
I have my own best tips for small business success that I’ll share in this post, in other blogs and in my book.
- Fire fast and hire slow
- There will always be someone who will do it cheaper
- Get a lawyer
- Your customers don’t care about you
- You have to be first, best, or different
- Fail fast
- You need systems
- Sell something before you make it
- Shwag wont replace a bad product.
- Don’t be too stubborn to ask for help
- Hand out with people that are smarter than you.
- Work on the hardest thing first
- Give yourself a deadline
Here are some of the best tips for entrepreneurs from some of the most known people in business:
Mark Zuckerbergs two rules for meetings:
Ask people to send materials in advance you use the time for discussion,”
Second, Be clear about the goal when you sit down for a meeting–are we in the room to make a decision or to have a discussion?”
John lee Dumas on Focus:
Chris Goward – Founder & CEO at WiderFunnel
“1 – Always have a plan. 2 – Your plan will not always happen.
John Doherty – Founder at HireGun.co
“Always ask your customers before you change a business model or launch a new idea. If you alienate your best customer, you’ve lost.
Ryan Holmes- Founder of Hootsuite on Funding
Look for financing sooner, not later, and don’t take the first deal.
Matt Schulz, CreditCards.com Senior Industry Analyst on personal savings
Practice targeted savings: “You put some away for retirement. You put some more away to save for a down payment on a house or a car, or whatever your next big purchase will be. You put still more away in an emergency fund because you never know when the next economic crisis or health emergency will come about.”
Julie Fleischer, Director, Data + Content + Media, Kraft Foods Group On Marketing:
It’s all about the consumer. Everything starts and ends with her. Who is she, what does she need, what does she want, what excites her? Everything we do must be in service to the consumer. If you follow the consumer and know her deeply, you’ll never go wrong.
Hello Design CEO David Lai:
Set yourself up for success in the morning.
GoodData CEO Roman Stanek:
Take at least one day a month to think only about the long term.
Dilbert creator Scott Adams:
Don’t give up.
Billionaire Mark Cuban:
There are no shortcuts.
Camping World CEO Marcus Lemonis:
Get into a business where you can be a big fish.
Francine Hardaway – Founder at Stealthmode Partners
“Watch your cash. Running out of money can happen when your business is at its most successful.