Small Business Tip: Time to Make More Money!
Once you’ve established your business and built up a clientele, it’s time to focus on increasing your profit. The Direct Selling Education Foundation offers these tips for business owners:
Have a detailed plan, but be ready to adapt. Business plans can’t anticipate every circumstance, so you need to be flexible and willing to adapt as necessary.
Be a creative problem solver. Think outside the box to figure out what your business is lacking.
Persevere. Don’t let the roadblocks keep you from success.
Have mentors. Seek out mentors who have been successful and pick their brains for ideas you may not have thought of. Most people are happy to share their success stories with others and “pay it forward.”
Stay lean with your budget. Be careful with how you spend, be aware of every aspect of cash flow, find ways to decrease spending.
Believe in yourself. If it’s in your heart to succeed, you will always find the motivation to continue, but it’s a good idea to seek out people who can boost your self-esteem when you are facing doubt.
Read more at the DSEF blog. Check out their e-newsletter and e-book, “Creating Your Success Mindset” (both free!).