GR: Demand is what makes or breaks a business
The best businesses ‘Generate inbound’
You need to be oversubscribed
Either stand out in a crowded market Or create your own space
Although the second option is the one that makes it into the press most often, in fact, most entrepreneurs build businesses that find a way to stand out in an already crowded marketplace
Become the ‘Internal terrorist’ in your business. Constantly question ‘how can we do this better’
The minute you become complacent you lose your market position
Complacency is a business killer
Negative feedback is business oxygen
We’re not actually building this business for today, we’re building tomorrow’s business
We live in the world of free. I wake up in a morning and head to work, where I pick up my free paper, check my free social media, and so on. People expect more for less
So the care bit is really, really important
Do your customers prefer technology enabled interaction with your product or service, allowing them to solve their own problems, or is your value in the high touch, peace of mind that you can offer?
Surround yourself with the best advisors who can help you grow to the next level, rather than abdicating to a ‘new’ management team or outside CEO (who will likely destroy what you have created) or assume that you must sell once your business achieves a certain size or value.
Don’t lose confidence in your own ability to grow your business to the next level.
The four stages of entrepreneur development as outlined in Guy’s book Vision to Exit;
Artisan to Hero, to Meddler to finally Strategist.
Most businesses get stuck with a meddler entrepreneur at the helm, but to move up to Strategist means you need to begin professionalising the business – which takes cash. Either from profit or investment
Ask yourself – what’s my scale-up journey?
Do I need for example;
All of which has an effect on the cash in your business
What’s the cash balance your business needs on a day to day basis that means you can sleep easily?
The biggest mistake a business can make is to run out of cash!
Company Shortcuts works with a team of outstanding Sales Accelerators to deliver consultancy and training, who also guest blog for us on topics of interest to sales leaders.