Business / Startup Challenge

8 Focal Points for new business success

You have the idea you are ready to build your business around; get up get focused its time to break the ice

  1. Strategy –
    1. Develop a plan to win
    2. Do your research
    3. Understand the marketplace
    4. Know your business inside and out
  2. Marketing
    1. Identify your audience
    2. Satisfy your audience
    3. Create an experience for new and repeat customers
  3. Sales
    1. It’s the transfer of energy
    2. Cash is king the more you sell the bigger the throne
    3. It’s the blood of every business, it runs through every part of the company and you need it to survive
  4. Advertising
    1. Budget for it
    2. Cost of new customer
    3. Cost of keeping old customers
    4. Know your advertising outlets (online, direct mail, face to face, social media, word of mouth etc..)
  5. People
    1. Have the right people in the right places
    2. Know what you want before you build your team
    3. Coach them to success and they will stand by you
    4. Loyalty is priceless, give your people a reason to be loyal
    5. Team work makes the dream work
  6. Corporate real estate-
    1. Corner office with  a view unless told other wise the section in your room nearest to the light
  7. Legal team- most important
    1. You need a personal lawyer and a corporate lawyer they are not the same person
  8. Board of directors
    1. “I have the money but where was my advisor when I needed him?”
    2. Next to you have the most invested in the company
    3. Checks and balances

Follow

One

Course

Until

Successful

2 thoughts on “8 Focal Points for new business success

  1. Of these 8 focal points, I can pick out a few that definitely rise to the top as the most important for me – among them is people. I also like the “FOCUS” acronym – very true!

    • People should be number 1, the business will only go as far as the people involved will take it. My people remind me everyday if we are going to grow then the leadership must continue to grow and stay focused. Thanks for the comment.

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