How to Succeed in Business – Business 101
You need to have an entrepreneurial mindset which requires a daily focus on improving what goes into your mind.
You must be consistent.
You must be persistent.
You must have massive belief in yourself.
You must be hard working.
You must be good at overcoming fear.
You must think fast.
You must act fast.
You must hire good people.
You must teach and train those people to create what you envision for your business.
You need leads. Lots of them. They must be pre-screened, pre-qualified and must absolutely be looking for help. You provide the help.
The leads have to generate high margin sales.
Profits must be managed. Isolate at least 10% before anything else gets paid.
Pay out quarterly as follows.
- 25% owners share
- 50% debt reduction
- 25% reserve
Create procedures/systems for all tasks.
Delegate or outsource all activities that you don’t love to do.
Automate everything you possibly can.
Every one of these traits are skills and you can learn any skill that you desire if you put your mind to it.
To your lifelong prosperity,