Here we are in the midst of the holiday season, and many small business owners, myself included, are searching for ways to say thanks to our customers and clients. Making the right choice is often difficult, particularly with tight budgets. How much should you spend? What’s appropriate and what’s not?
I’m sharing this story to help everyone with great ideas understand taking a product from the mind to the marketplace isn’t easy, and it’s fraught with peril. There are many scammers out there waiting to play on your inexperience and enthusiasm often costing you a significant amount of money and leaving you with nothing in return.
Whether it’s your relationship with family, friends, co-workers, employees, customers, suppliers, competitors, teachers, advisors, etc. — every interaction affects your life in some way. And the value of relationships can’t be ignored, particularly when it comes to building your business.
One of the biggest mistakes new business owners often make is not charging enough for their services. Sometimes it’s because they don’t understand their cost structure, and sometimes it’s because they are so desperate for the business that they’re afraid to charge more. Regardless of the reason, charging too little is not a good idea. It will not bring you more business and it may actually drive business away.
Do you ever wonder why some businesses flourish while others flounder? One of the biggest reasons is a lack of knowledge of the critical business fundamentals that it takes to grow a successful and sustainable business. I work with small business owners just like you, and most of the time when a business is struggling there’s a weakness in one of key business fundamentals. Here are the six business mastery fundamentals you need to know to unleash your business success.