Strategic three
I have been doing some accounting and rechecking and it took some of my writing time. Not bad anyway, one of the things I TRY to do these days is to try and follow up with my spending habits. How much is coming in against how much is going out must be well checkmated. Another thing to consider is, what is really the TOP consumer of income.
Beware of unexpected expenses I always say, the way it just sneaks it to deficit you can be a big surprise. I had to face such and what can I do, some solutions need a meaningful income stream expansion.
On the other hand, I was checking my income streams, what are the current weaknesses, where and where showed a bad performance last month and probably looking broader into last year. Where can I improve and how will it affect the entire income flow? If you had followed up with my article yesterday you will easily connect on how executional this year will be. Without doubts, there were lots of poor performances and uncalculated risks that I took which scrambled how I was planning to move.
You don't sit down in regrets, get up, dust yourself and move on. I talked about the need for high income skills this year. Making every invested time and opportunity lucrative will safe you a lot of hassle. This growth thing is not necessarily how long or how hard you work or even how many jobs you keep, it ALL boils down to good pay, period.
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This is the year of strong ideas preparing to meet better capital. I am working on cracking a code that will indeed be a life changer. It is really putting me in-between and I will have to connect these dots very accurately. You live out your best, you have to be determined.
Speaking of improvement, this time on my co-partnered brand, I had to be out yesterday to secure a new machine that will help improve our service. This was when the seller told me something that is still sinking in. You think you know it all, don't underestimate anybody.
I call his idea; the strategic three. He told me, let me share with you The Secret to succeeding in business. As an entrepreneur, especially a growing one, your focus is on three sets of customers. Those that sustain you for the business, those that maintain the business standards for you and lastly, those that expand business for you.
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His first idea was this, your business must be able to feed you. Have you ever heard of the ‘pay yourself strategy?’. It indeed plays a huge part here. This is not about eating business capital or compoundings for reinvesting, NO. The starting point of a good business is taking care first of entrepreneurs' wellbeing. note, this doesn't mean lavish spending. His view was the need for us as a brand to open doors to diverse sets and categorize them. This first set is for personal up keeping.
The second set he talked about are the maintainers. This set of customers are those you will use to put your business to standard. Maybe I can call them the middle-class here. It is their products or services rendered that you use to do a reinvestment on equipment, tools and facilities so that you can meet up with continuous and improved standards.
Lastly, he talked about those that expand the business. This is when you are able to meet up with the big names along the line. It could be an individual reputable person or a company. Consider what good contracts you can hit to be the one rendering service to government officials for lets say four years. How about getting recommended for NGO and other big institutions. Such money pulled in is meant for expansion and broad company advertising. Of course, this has always been my focus for this brand, pulling in the big contracts.
To conclude, let me add, his views draw me to the fact that all fingers are not equal. Nevertheless, this doesn't mean that standards should be compromised. The fact is, there are people ready to pay or even over for standard. For this set to discover you, your first stage is to strive for existence.
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