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Final Word
Running a business isn’t easy but can be very rewarding. You need to make sure you stick to a few “rules” to ensure that you survive for the longer term: 1. Don’t waste money on fancy cars or fancy clothing and so on in the beginning. Rather invest that money into your business. When it makes money you can buy those things. 2. Advertise yourself and your services in as many places as possible where it’s free and be selective in places where you have to pay for it. 3. Buy and sell quality products. There’s no greater way to sink your business than selling low quality because an unhappy customer will tell 10 of his friends about you or even complain on social media and bad news travels faster than good news. 4. Keep up to date with your admin. Pay your accounts and taxes timeously. 5. Cashflow is king. If you cashflow is getting worse that’s the most obvious sign of trouble. 6. Take care of your equipment. Without it you are dead in the water. It’s very tempting to buy the cheapest ink and media for a printer for example but there’s a reason it’s cheap. When the head for example packs up whatever you’ve saved you’re going to spend more than double on repairs and lost business. If you saw someone selling fuel for ½ price you would suspect something was fishy. 7. If you don’t know how to press a product ask for help. 8. If you have staff working for you inspect what you expect them to do. You don’t want to come back and find a whole pile of damages. 9. Be creative and unique – this is the best way to differentiate yourself from your competitors. 10. Make enough profit to justify the time and effort spent. 11. Be very careful of your expenses. They can easily run away from you. 12. Keep control of your printing. If you have staff doing the printing check the page counts to make sure they’re not using your printer to do private jobs. 13. Keep in touch with your clients. Clients need constant reminders that you exist. 14. Lead up to special events weeks and even months in advance, don’t wait for the last minute to do specials or products for public celebrations.
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