Categories
Basics Organization Planning

Infrastructure Is Your Key to Success

Having a great Product, identifying that hungry market, and building and marketing to a dynamic set of customers are all keys to on or offline business success.

But, without a stable Infrastructure, success will be fleeting or difficult to maintain.

What do I mean by “Infrastructure”?

I was thinking about why 3rd world countries are so poor, or so unable to make economic progress. I reasoned that the roads, utilities, markets, banking, communications, and transportation Infrastructure is the key.

Bad roads make it difficult or impossible to bring goods to markets that can’t handle volume. Finances and Banking shortcomings make it difficult or impossible to secure loans to improve business.

In short, without a sturdy and improving Infrastructure, success will be difficult or impossible.

Your Business Infrastructure

In your business, Infrastructure is all the supporting and girding you create or secure that allows your business to thrive and succeed.

Without it, each day brings unexpected interruptions to the free flow of business transactions.

For example, one strut is a good accounting system. With one, you can keep track of sales, expenses, who owes you, who you owe. Without it, you fall behind on bills, labor endlessly only to find you didn’t make any money, or miss out on sales or discounts because of this faulty system.

Here are my top 10 Infrastructure pieces.

  1. Accounting System
  2. Filing System
  3. Planning System
  4. Inventory Control System
  5. Debt Collections System
  6. Sales Funnel System
  7. Delivery System
  8. Display System
  9. Followup System
  10. Marketing System

I realize that some of these can be combined, but how else would I get 10???

I’ll be expanding on these as we go along.

You can be thinking about them on your own. Then, you can add your thoughts in the Comments.

Make it a Great Day! Unless you had other plans…
JohnL

Categories
Basics Entrepeneurship Profits Selling

The Secret To Business Success

How many Thousands of books and articles have been written about Business Success? I’m certainly not going to outdo any of them in a few paragraphs. But, I can sum up my years of experience and research,

  1. Find a Market
  2. Find a Product or Service
  3. Sell Lots
  4. Control Expenses

Market

This is a pool of potential customers. You know who they are, and you know what they want or need. You can serve a large market, or a niche market. But, you can’t sell to “everyone”.

It helps to have a Market with fewer rather than more competitors.

Product or Service

Your Product or Service needs to be something your Market wants or needs, and something that is different from all the others, You don’t want to be waving the “Me Too” banner too wildly.

Sell a Lot of It

Now, we’re getting somewhere! Selling is where it’s at… Sell a Ton of them and all will be well.

Maybe. Many a going concern collapsed by only focusing on sales.

Control Expenses

This is where Business Success is made or not. Profit is the end goal of any business venture. Without Expense Control, there are not likely to be any Profits. Certainly not as much as could be.

Think of this. Profit equals Sales minus Expenses. A Sale brings related Expenses. Only a portion of a Sales dollar makes it to the Profit bucket. However, Saving a Dollar, or NOT spending one, drops it right to the Bottom Line.

The Bottom Line

The Bottom Line is that the more that you sell AND save, the bigger the Bottom Line.

Watch Your Pennies and the Dollars will take care of themselves.