Business startup

Business Startup Advice – Plan Like You’re Going to Fail.

I started a business with a forty thousand dollar loan from a friend of mine. The business meteorically grew to over one million in sales per month within a year. I had nothing to complain about, right? Except… I was rotating my inventory 4-6 times a month. Cash flow issues were the order of the day. I went through three “bookkeepers” and as many accounting programs. Within a year and half I had over 50 employees and 4 locations. We tried to slow things down to only find that there is no “slow” with business. You’re either climbing or you’re declining. Within 4 years this same business failed due to bad accounting advice and practices, poorly designed loans, theft, and lack of a solid core business direction. We grew too fast. My business startup was a disaster. I should have planned to fail… let me explain.

sales networking

Sales Networking with Your Business Posse.

As a business owner you make huge efforts participating in boards, associations, and sales networking meetings of all types. Sometimes in group settings and sometimes just simple one on one facetime lunches or cups of coffee somewhere. A good thing. With that said, however, I would guess most of you are missing some of your best sales networking, lead generation, opportunities and don’t even realize it. Let me explain.

Race to Zero

Race to Zero – Business Profits and Consumer Savings.

There is such a fine line between business profits and consumer savings. As a business owner, it is so easy to go down the egomaniac path of “win every deal at all costs”. Consumers typically don’t care if you make money and push for every dollar of savings adding to this dilemma. It really can become a race to zero and possibly a death knell for your business. So what do you do to stay in the game with reasonable profits for business continuity?

Sell and Forget Customer Service.

My wife needed a new vehicle due to medical issues. She was in Seattle for the operation. I had a week before I needed to get the vehicle to her. The mini-van needed detailed, rear bumper repaired, leather and heated seats added, and floor mats. I paid what they asked and was pre-approved. Pretty easy sale. While signing the papers I was asked to take the vehicle now and then bring back later. I resisted as this was inconvenient and unnecessary. I just wanted to pick it up when all the work was finished. Ultimately I was convinced to take it now.