Download pptx - Building A Successful Business

Building a Successful Business

Common causes of a downfall Discover what creates profit

Podcast available atTheEntrepreneursRadioShow.com

for full interview with Sarah ShawThe Entreprenette

http://theentrepreneursradioshow.com/109-sarah-shaw-building-successful-business/

Common Causes Of A Business Downfall

• Failing to understand the difference between margins and cost plus

• not knowing how to price their products

Why build margins? - building margins for your company to keep it

healthy so that it can grow and thrive.


• There are key elements (margins, par and core metrics) to learn in order to build a successful business

• Business experts do not talk about these key elements which are useful in order to grow a business

• Most of them are only focused on sales


• A 10% loss can make a huge difference in your net profit at the end of the year if you're underselling your product by 10%.

• You could sell a thousand of your products and go bankrupt.


• Failure to make strategic planning

• What is the difference between a business plan and a business strategy?


• Not having the right goal.• Why do short term goals work

best?

Why You Need A Business Coach?

• In business there's so many dead end roads that an entrepreneur will find.

• A business coach or mentor can tell you, "Don't even turn down that road."

• In keeping your business going you need people like the PR and the online marketing; these days its social media and blogging and all the different levels of which you need to stay on top of.

• And if you don't know how to do those things it can actually be detrimental to the success of your business


• Hearing what people have to say and being open to entertaining the idea that they share with you, it's something that can be a key that can lead you to the success that you want.


Helpful Tips In Building A Successful Business

• Always making sure that you've got something new coming out.

• It's not just creating product and hoping that it sells but you need the PR and the online marketing, social media, and blogging, and all the different levels to stay on top

• You need a coach or mentor if you don't know how to do those things. Without having these can actually be detrimental to the success of your business

• Outward appearance matters in running a business


• Hearing what people have to say and being open to entertaining the idea that they share with you, it's something that can be a key that can lead you to the success that you want.


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