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,
- Find a Market
- Find a Product or Service
- Sell Lots
- 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.
