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Saturday, April 23, 2011

The 10 Commandments of Business Building


1. Plan Throughly

Just like there must be a floor plan before a home can be built, the same goes for your business

2. Start Small

Rome wasn’t built in a day and neither were the World’s largest companies. Just like a flower, your business has to start with a tiny seedling before it becomes the luscious rose.

3. Make Connections

Not one successful business was started without the feedback of others. Making connections goes further than just asking people if they like your company. It’s all about developing relationships.

4. Spend Cautiously

Maybe you got a loan from a friend or family member. Maybe you were lucky enough to get some VC funds. Or, maybe your fueling your business out of your own wallet. The fact is that careless spending causes horrible and sometimes irreversible problems.

5. Always Market Yourself and Your Business

First of all, don’t take this rule to mean that you have to become one of those annoying telemarketers. All this rule means is that you are the key representative of your business so you need to know how to work it. 

6. Practice Polite Persistence 

 Think about this idea of being persistent while avoiding becoming an annoyance.

7. Constantly Adapt

Flashback to the late 80′s when companies are starting to realize the potential in the new invention, now open to the public, called the World Wide Web. The first companies to make the leap into this online age took a big step. This is a great example of when companies had to adapt.

8. Reach Out to Your Customers

Your business shouldn’t just sit there taking in orders and doing your thing. You have to find ways to reach out to your customers to make them feel like you get them. 

9. Do Something Never Before Seen

Anybody can start a company just like yours. The questions is, how does yours stand out from the rest? A good mentor to me called this your USP, or your Unique Selling Point. The concept behind a USP is that in order for your business to really be something that others talk about, you going to have to do something that hasn’t been seen before.

10. Be Patient

 Patience is your key to success. You cannot expect your business to make millions overnight. Without the vital element of patience, you will find yourself getting anxious to advance and you may end up making a rather dumb and immediate decision that could stunt the growth of your company for a long time.











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