Cents Make Dollars

I have learned SO much about running a business since I decided to become my own boss.  More importantly, I came to the realization that running a business can be simple AND PROFITABLE if you take a few key concepts into consideration.  Such as:

• Whether you are a CEO or a parent, you run a 'business' every day - Don't underestimate your talents and skills.  Take a look around you and make a mental note of what works for you and what doesn't work for you in every day life.  For example, are you an organized person?  If so, capitalize on that skill when creating a business plan, working on a project or providing services to a client.  If not, don't stress it.  You can either choose to learn to be organize by buying organizational tools (such as a planner) or take advantage of the apps on your phone.  Or, you can hire/delegate someone to be organized for you.
• Business CREATES Business - This concept is similar to Hollywood's philosophy - All publicity is good publicity.  When applying that concept to business, always think that any type of business can create business for you ie. leads to potential clients, creating rapport with current clients, widening your network etc.  Don't sleep on FREE marketing/promotion opportunities such as word of mouth.
• Give the advantage to get the advantage - Don't hesitate to give the client the advantage once in a while.  Sometimes you have to 'give' money to eventually reap what you sow.  You want your clients to come away saying "The service was great AND the price was great!  I'm going to use them again AND tell my friends."  As oppose to "The service was great BUT they were a bit expensive.  Most of my friends won't be able to afford their service."  The simple AND or BUT can make a difference in terms of potential repeat business, referrals and more profit.
• Budget-conscious people are the majority, not the minority - Sometimes as business owners, I think we forget what it is like to be a client.  When setting pricing and/or negotiating with a client, always revert to YOUR mentality as a client... wouldn't you rather pay for a service that is willing to work with your budget?  Personally, I will readily remember and tell my friends about the service providers that were willing to cater to my budget needs.

And last but definitely not least...

• Disregarding a potential client because they can't afford your services doesn't make cents (and cents makes dollars)- Although high-end spenders/clients will guarantee you a higher return for your services/product, REMEMBER that budget-conscious people are the majority, not the minority.  Therefore, by sacrificing $100 out of your profit for a budget-conscious client you could potentially make ten times that amount by securing repeat business PLUS enticing additional clients, simply because you gave the advantage.

Come on people!  Let's start doing business from our hearts, not just our pockets : )  

Be Blessed!

Seek the Kingdom of God above all else, and live righteously, and he will give you everything you need - Matthew 6:33