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Last Updated on August 9, 2021 by Tyler Clark
These are 9 Business boosting tips I learned from rich entrepreneurs I worked for.
They’re good and quick tips to help you get moving and avoid a few common mistakes.
The tips are also simple and straightforward because that’s how many of my clients were. They cut through the noise and did the matter of fact steps to get things done.
They made it easy on themselves and didn’t over-complicate their businesses.
Here’s what they did.
Tip #1: Build Something
You must create something, start something and grow it.
This stops you from wasting time thinking about what you’re going to do. It’s useless in your head.
Build it and see what happens!
Don’t go get a job, (assuming you’re financially stable of course).
Only do this if you need to get to know the industry first.
That’s a big piece of the millionaire approach and if you want to follow them, I highly suggest you start and build something.
These days, people are making bits of money on all kinds of different platforms.
This is good but, over time, if you want to make more money, you’re going to want to start your own.
Your own platform allows you more control and typically a larger share of the income you generate.
It’s a great way to go if you want a bit bigger piece of the pie.
If you want to boost your business, do this first.
Tip #2: Start A Regular Business
Take the pressure off yourself by not trying to come up with a brilliant business idea. -Huge Time Waster!
You don’t have to do this.
Most of the businesses the millionaires ran were regular businesses.
They didn’t re-invent the wheel, they just ran good, sound businesses.
Your business itself doesn’t need to be unique, it just has to have aspects of it that are unique. If you have an ice cream store, you can make your store unique in a million different ways. It can be regular in that it sells ice cream and unique in how it sells ice cream.
You don’t need to come up with a literally new business, that’s really hard to do.
If you can’t figure out how to make your regular business unique, just start it and go from there.
Tip#3: Don’t Do it Yourself
This is a tough one, especially if you like to do things yourself. You can’t develop something in this fashion.
That’s why Buffett and all those investors are wealthy. They compound investments. You need to do the same.
Save time by delegation and empowerment.
Lead but don’t do everything.
You can’t fight every battle.
It’s just too much at some point. You must structure your business so that you will eventually have the option to stop doing everything yourself.
Self reliance is a great quality but if your business starts to grow, you’re going to have to relinquish more and more of your responsibilities.
This won’t just be once or twice either.
In fact, the bigger you get, the less hands on and less in touch you may have to become.
It’s quite a process and you should try to accept giving more responsibility to others as your business grows.
Tip#4: Check Your Format
The format of the business you decide to boost is extremely important.
If you want to run a development company, your employees will be hired full time in most cases.
If you start a moving company, your employees will mostly be working on weekends and at the end of the month.
If you try to build a personal training company, your trainers will have to slowly build their clientele over time.
All of these businesses have different formats and you’re going to have to figure out the ones that work best for you.
I’ve seen all of these examples up close and I would rank them with the development company at the top, the moving company in the middle and personal training company in third.
Where would your business rank? Let me know in the comments.
Tip #5: Cover The Simple Stuff
Be on time, communicate well and have the basics together.
This saves time because it will make you more efficient and clients love this!
It means you’re dependable.
It doesn’t matter how good your product or service is if you can’t deliver it in a timely, consistent and dependable manner.
In business, we get stuck in that perfectionist brain trying to come up with brilliant business ideas when the basics are much more vital.
Have a look at your business and see if you’re doing the basics well.
Reach out to current clients, touch base with them and see how they’re doing. Check your website and see if there’s new information you can post. Just covering the basics is often enough to get a boot your business and get it running well.
Tip #6: Start With Nothing
Get your business going with the bare minimum.
You do this because you’ll learn the most with this approach in the shortest amount of time.
The best learning you’ll get will be the learning you receive once you get started. Start as soon as you can and don’t over invest in any way.
If you have unanswered questions before you start, that’s’ good.
You’re more likely to get those answers once you get going versus trying to guess what will happen.
I’ve started many small businesses and so did the millionaires I trained.
All of the major insight came once we were actually operating the businesses.
This of course doesn’t mean starting without the proper licenses, certifications and protocols in place, it just means starting as soon as possible.
I’ve seen this so many times with great entrepreneurs, they walk out the door the a start the business the same day they think of it.
How’s that for starting with nothing?
Tip# 7: Don’t Make it Perfect
Are you a perfectionist?
If you’re thinking about that question, you might be. If you said no right away, great! The good thing is that if things aren’t perfect yet, you can work on them until they are. Just kidding, do not do that.
Perfectionism wastes time because guess what, it will never be perfect.
Almost ready isn’t any good and it’s also a state of being.
It’s a state of being that doesn’t move and doesn’t pay very well!
Don’t get caught in the over analyzing state or the almost ready state. These are common traps and they can hold us up forever. Remember the tip before of starting with nothing?
Keep in mind that you may not know what perfect is. It may be perfect for you but not perfect for others. In the end, it’s better to get out there before it’s perfect and figure out what perfect really is.
Tip#8: Make Sure You Can Scale the Business
This is an age old tip but it’s a must for any business you want to boost. You MUST be able to scale your company if you want big payoffs. I’m not saying you can’t get there with a non-scaled business but, you may be making things harder than they need to be.
When I was a trainer, it was really tough when I learned something new and got better but couldn’t teach more people. I had a full clientele and not time to expand. The business wasn’t an easy business to scale. Had I looked at these issues earlier in my business career, I would’ve changed the business and made it more scalable.
Don’t make the same mistake I did!
Tip #9: Promote Yourself
You’re going to have to promote yourself and or your company if you want to get customers. It’s just a fact of playing the game.
I’ll never forget one of my most successful clients telling me:
“If you don’t promote yourself, who’s going to?”.
He was completely right. All of the great entrepreneurs I trained were able to do this and back it up.
The good thing is you don’t have to shoot TV commercials to get attention anymore.
You can blog or put out great content in many other ways where you’re not directly in the spotlight.
As long as you promote things in some way, this can still work.
To get the word out, communicate with others in any way shape or form that you can.
Having a good product or service isn’t enough.
Sooner or later, you’ve got to get in touch with your customers.
This will allow you to start to build relationships with them making them far more likely to buy from you. Not someone else.
Bonus Tip #10: Focus
I’ve touched on this tip in many articles.
We can get pulled in a lot of different directions in entrepreneur world.
Tips to make money over here or to ideas of trying this over there can have us going in many different directions instead of just one.
This tip of focusing was given from one of my most successful and intelligent clients. Use it to self reflect and figure out what you can focus on. What is going to be a great enterprise for you?
Yes you can have multiple income streams but, do you have the time to start 5 platforms focused on different topics?
Instead, it might a good idea to get one good bread and butter platform going first.
Go from there.
Once it’s up and running, you’ll probably have some time to work on other income streams.
Best of Wealth,
Tyler.
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