8 Business Advice And we got when we started
We want you to realize that every successful person was once in your shoes feeling what you're feeling right now and about what the future holds for them and every master was once an apprentice
We never had you might want to take notes and see where you stand on each of these points
Here are 8 pieces of business advice we wish we got when we began our financial journey
Number One
Number One Start with an imperfect version but start now there's a saying in silicon valley that goes like this
If you're not embarrassed by your launch version you launch too late beginners fall into the trap of perfectionism all the time the truth is the sooner you get in front of your potential customers
The quicker you realize what needs to be improved stop with the nonsense launch now get the ball rolling and polish it up along the way
Number Two
Number Two Sales solves everything in business nothing matters but sales your ability to generate sales is what will make or break your business sales means money coming in and there's a demand for what you've got to offer unless you master sales
You don't have a business you have a hobby your website might not be perfect your packaging maybe not great but none of this matters unless you're able to convince someone to give you their money
Number Three
Number Three Hire fast fire even faster when we started out we wanted to be personal friends with everyone we hired we know a pretty human thing to do the problem is that relationships you have with your friends have a completely different dynamic than the one you have with your employees
We treat everyone with respect we're there for them in case they need help but this is a business our agreement is that we will pay your salary on time and in exchange we expect you deliver the agreed upon work on time this distinction
Right here is what's allowed us to deliver one of these pieces of content every single day for so long hire fast test them out and see if they fit your company's culture and if they don't fire them when you're looking to build great things you don't need to get caught up in your feelings
There's a big difference between running a business and running a charity
Number Four
Number Four Focus on one thing only ask yourself what does my business do then focus on doing that to the best of your ability
This means figuring out one how to improve the quality of your product two how to reduce the time it takes to produce or serve a customer three how can you automate or at least outsource and four how can i get in front of more people who need what i sell
That's your job from the smallest street salesman to the highest ranking ceo
They're all trying to figure out how to do these four things don't get distracted by shiny objects you're not in that business you're in your business so act like it
Number Five
Number Five Set bigger goals when we were starting out we set our goal to get one million dollars that was the goal we thought that if we could only get this a one goal our entire life would be set
It took us seven years from the moment we started with less than ten dollars in our bank account to get to one million and you know what happened when we did it didn't feel like we made it sure
The title is nice but we realized the goal wasn't 1 million it was to feel financially free that we had enough money to never have to worry about money ever again
When we started out in our minds a million dollars would solve that but we had to get there to realize it wasn't enough so now we're going for 100 million because why the hell not now we have money we have knowledge and we're living in the most prosperous time in human history here's the lesson it takes between 7 and 10 years to reach a big goal
So you might as well at least make it a really big one setting goals strategically and building a framework on how to get there in time is the difference between those who wish they had success and those who plan for it everything we've learned in our journey from getting to zero to one million
Number Six
Number Six Nobody cares about the business as much as you do in time you'll hire a bunch of people they will all work hard but nobody has the skin in the game that you have for this business to succeed for you it's personal for them
It's just business you cannot expect the people that work for you to have the same vision and burning desire to expand the way you do this applies to people who position themselves as experts
Who are meant to help you grow your business nobody knows your business the way you do every time you sit at a table discussing your business
There will always be an asymmetrical distribution of knowledge and vision
Number Seven
Number Seven Talk to lawyers and tell them your long term plan a call with a lawyer will cost you a few hundred bucks maybe a thousand
But this call might save you a lot of time and pain in the long term fortunately for you business from a legal perspective has been pretty much standardized
We have templates for every possible contract out there the thing is you don't know which ones to have your people sign and what kind of impact they have in the long run a decent attorney will get you set up in no time
This is incredibly important especially if you want to sell the company at some point
Number Eight
Number Eight Get a good accountant legal will take care of the paperwork the accountant will take care of the money accountants will give your business more fuel for it to grow
They will make sure you're in good standing with a state and knowing everything is taken care of on the financial side is such a flex as a rule of thumb
A good accountant pays for themselves tenfold
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