Want to Grow Your Business? Master These 3 Simple (But Critical) Rules
As a business owner, you’ve likely spent ample time trying to improve your business and find success. You read business books to learn the secrets of prolific entrepreneurs, attend seminars to improve your skills, and hire talented team members to enhance front-end and back-end processes. Occasionally, you learn something revolutionary that allows you to implement practices that make your company more profitable and successful. Brian Tracy is no stranger to offering this type of revolutionary business advice to others. He’s the chairman and CEO of Brian Tracy International, a company he founded nearly 40 years ago that provides counseling on leadership, strategy, creativity, and more. Tracy has also authored over 80 books that offer business, leadership, and psychological guidance
Compare it to getting an oil change. You could go down the street to your local quick oil change location without an appointment and have your oil changed fast and for a low rate. This gets the job done, and if everything goes smoothly, you might return the next time you need an oil change. However, if you went to a mechanic or dealership for service, most places will change your oil, rotate and fill your tires with air, replace any fluids, and more as part of an oil change package deal that only costs $20–$50 more than the quick oil change place. And if their customer service is up to par, there’s no way you’d take your service anywhere else. This is how customers look at your business. If your products and services are of the highest quality, you can charge more than your competitors. Focus on revenue generation instead of the costs of your business. It costs money to run a business, but you should not focus solely on money leaving your bank account. You will spend that money regardless, so start building plans to create revenue that covers any expenses your business may have. Part of the reason you started your business was to make money, so start making money. Hire the best staff, give them the training they need, and create sales and operation processes that align with your company values and promote more business. Doing so will offset the costs of doing business while bringing in more revenue that can be
to entrepreneurs in any industry. If you haven’t read anything by Tracy or heard him speak, you’re missing out on valuable business advice. Tracy recently unveiled his three rules for business success. By following these rules in your own business, you can reach new heights and accomplish your goals. Quality is more important than cost. This has been a hot topic ever since humanity created the marketplace. Do you cut
costs and offer a lower-quality product or service, or do you deliver a high-quality product that’s more expensive? Tracy recommends providing a higher-quality product or service every time. Not only will you wow your customers, but you’ll also create a strong relationship that promotes customer loyalty. If you make a cheap product and sell it for a low price, the customer will be happy at first to get a great deal, but their joy will fade as time passes and the product starts to wear down.
used to grow your company. There are no other rules!
According to Brian Tracy, there is no other secret rule that will bring success to your business. As long as you put quality first and focus on revenue generation, you can grow a profitable company.
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