The scarcity of 4 key things hold entrepreneurs and businesses back.
I recently posted a blog on the first one, scarcity of time.
Today, lets deal with the second- money
Lack of money to purchase resources or materials, lack of money to invest in marketing, lack of money to recruit staff even lack of money to pay yourself what your worth.
There are several ways to create more money, and borrowing should be the last.
1. Sell more, stop doing all the fluff stuff and start making sales calls, sell sell sell, most start up businesses are in the income stage, (for profit and value stages, read the whitepaper - link below) where people are buying YOU, so get out there and sell
2. Negotiate contra deals with suppliers, provide them with a product or service in return for their product or service, this means you don't have to come up with the cash.
3. Haggle. If you can negotiate a better deal, thats less cash that you have to generate, and when I say haggle, I mean haggle like crazy, you will be surprised at how much people will reduce their price if you just ask, every dollar saved is less cash you have to generate to run the business.
There are more example in the whitepaper (see link below)
Look out for scarcity number 3 in the near future
To win at business we need to understand the 8 business frictions, the 6 mindsets of an entrepreneur and the one critical factor that drives business growth.
Receive a free 20 page white paper on how you can find out more about these "business rules" and how they will help you "win" at the game of business here
Tuesday, October 12, 2010
Sunday, October 10, 2010
Scarcity number 1
Most entrepreneurs or business owners either struggle or fail due to the scarcity of 4 critical resources.
If one of these apply to you it could be holding your business back. If two or more apply you could be in serious trouble.
1. Time
They get so caught up in doing the next best thing, flitting from one to the next, rarely get paid appropriately for their time and because they are typically ineffective time managers and or poor delegators, they tend to think it is easier to do it yourself than delegate it to someone else, they live in the false belief that they will have that long desired holiday, break or cut back on the 60 or 70 hour week when X or Y happens. Every time they try to step away from the business they get sucked back in time and time again. the reason this occurs is lack processes and procedures, support and efficient time management systems.
Look out for scarcity number 2 in the near future
To win at business we need to understand the 8 business frictions, the 6 mindsets of an entrepreneur and the one critical factor that drives business growth.
Receive a free 20 page white paper on how you can find out more about these "business rules" and how they will help you "win" at the game of business here
If one of these apply to you it could be holding your business back. If two or more apply you could be in serious trouble.
1. Time
They get so caught up in doing the next best thing, flitting from one to the next, rarely get paid appropriately for their time and because they are typically ineffective time managers and or poor delegators, they tend to think it is easier to do it yourself than delegate it to someone else, they live in the false belief that they will have that long desired holiday, break or cut back on the 60 or 70 hour week when X or Y happens. Every time they try to step away from the business they get sucked back in time and time again. the reason this occurs is lack processes and procedures, support and efficient time management systems.
Look out for scarcity number 2 in the near future
To win at business we need to understand the 8 business frictions, the 6 mindsets of an entrepreneur and the one critical factor that drives business growth.
Receive a free 20 page white paper on how you can find out more about these "business rules" and how they will help you "win" at the game of business here
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