Growing a small business is a topic that any business owner should be interested in. The difference between growing a small business or just floundering around comes down to a few different aspects.
The owner went ahead and successfully bid on the floors for the grocery store chain. Unfortunately, he didn’t have the cleaning expertise and organization to do a good job. The grocery store floors took him away from his core business. Within a year he was out of business.
If you dream of having your own home Business, you can finally discover a legitimate home business that has the best chance of being successful. And then, you can start your own home based Jed Fernandez now. Why wait any longer?
Inadequate legal checkup is a common mistake made by most entrepreneurs when selling a business. You must strive to avoid this mistake because it’s deadly. One thing with this mistake is that it can earn you a lawsuit, financial losses or loss of certain rights.
4/ Stressful – If your business is causing you no end of stress then this is usually symptomatic of a flawed business model. Typically this is because we tend to create a business that relies solely on us doing everything, making all the decisions, bringing in all of the clients or patients, making bookings etc.
Let us look at the concept of the “Purple Cow”. After you have been looking at cows for a while they all basically look the same. They all become common, ordinary and needless to say, dull and boring. But a purple cow is something that would be very different and indeed quite remarkable. A purple cow would attract attention; it would be the start of many conversations and it would be a draw for people everywhere. It would not be forgotten almost immediately. That is what you need to stand out from the crowd and rise above the rest- your own version of the purple cow.
Working as a business broker I see that an average business that sells for 1-2 times net profit has no formal systems. The businesses that fetch higher multiples always have formalized systems in place.
To make your business stand out from the crowd and to be a crowd pleaser at the same time you need to find the purple cow that makes your business remarkable. Once you know what that is you then must find ways to make your company different than other ones of its kind. You also must make yourself visible and recognizable to your customers. From there you must infuse the WOW factor into your business. Find out what works and make it a part of your company. Cultivate a personal style and let it loose. Use imagery to make your customers feel good in your surroundings and use a traditionalist touch in your approach as an entrepreneur as opposed to following trends.