aftershock2020
Senior Member
- Oct 19, 2007
- 980
- 502
I've been around this forum for a number of years now and get asked all the time about anything across the board, however, the most often is about starting a real business structure.
So, I'm going to post this in hopes that it will cover the basics for those that need them.
Basic Business Practices for Newbies:
The internet business world works the same way as the offline business world does. Sure, we have differences that allow advantages and/or disadvanatages for both sides, as with anything. However, in principle and practice, the fundamentals are always the same. Keep an open mind and remember that without a strong foundation, every building eventually crumbles onto itself.
Real, quality business sites are required to make the level of profit that will change your life. Focus on building websites that will brand themselves in due respect and authority by building them properly and steadily. In building a site on the foundation of a real product/service, authority of relevant content targeted for the visiting traffic and the search engines alike, you will succeed.
Understanding real business starts with a solid foundation of knowing what bases need to be covered right out of the gate. That comes with setting a solid business plan. However, traditional business plans have a habit of falling a little short. So, I recommend a practice of pushing it to a higher level and making a ' business action plan ', which takes the process up where you map your action steps immediately into each place, rather than just filling in the blank of " I need to do... " and leaving it at that.
Knowing now what you are going to do then will build the focus and confidence to simply do it rather than pondering the ' how ' to death with typical " WHAT IF? " questions, which cause procrastination, doubt and more importantly, lack of action.
Set your plan for 3 levels of operation from jumpstreet. Set it for 3 month goals, 12 month goals and 5 year goals. The reason for these wide range of settings is that everything can change in an instant online. IF you are working for the goal of 90 days on your short term goals, you will be more flexible to adapt and see what is working and isn't through your analytics and standard testing practices on sites and business techniques within your daily work routine.
If you are updating every 3 months, you will be open to easily adjusting your 12 month goals to be met, as well as to adjust for an ever-changing market. The same with the 5 year goals, however, with one ammendment to the rule...5 year goals are for where your company should be in success when you get to that point in your longevity. It should be all about the end result of you meeting all of these goals of the 5 year plan within these 3 and 12 month spans.
Finally, every time you complete something off the list of your plan, update it by making a side list of what you have accomplished and updating the current business plan with a new goal being added to the 5 year plan to work into your 3 and 12 month plan routines. This constantly keeps you moving forward and your business doing the same. This eliminates the room for worry, doubt and of course, lack of action.
You will be focused on your goals rather than anything else, which takes up that slack in your life for the negatives to sneak in.
Setting your professional business and customer service standards are critical at this point. Decide now what you are going to do and how you will handle your customer care, products/services, refunds, etc. This is all about handling the prepared scenario of " what if ? " in a positive light. Every great business person knows that if you have a response/reaction for every unexpected action, you will be calm, collected and able to handle it as a leader should, which solid thought, attention and resolve.
The military around the world is based on this philosophy. It is grounded in physics and science as well. Every action has an equal countering reaction.
" Plan for the worst and hope for the best. " is a saying that sums it up best in my opinion. Business and in life for that matter have this rule at its core. Those who prepare and have a response are never the victim of their environment. My practice that I recommend to you today is to make a list of what could be faced not by you but ' by your customer ', from your company. It could be a busted vase or a corrupt program download, etc.
Whatever it is, think of it from your customer's perspective and ask yourself what you would like to be done if it was you in their place. Then, come up with 3 or more countering responses to resolve the issue to the best of both your positions. In the example case, you could offer a refund apologize, replace the item and apologize, offer them coupons for a discount on their next purchase or on their membership fees, etc.
Learn real business skills for business operation, business and financial management, business growth and expansion, as well as proper real world investing of profits for generating passive income from your hardwork, to benefit your entire company. Pay attention the this next statement, please.
Read the great minds of business, both new and old, as well as business manuals and basics to build your future.
I am not talking about ' guru ' business books. I'm talking real money makers of the world; Donald Trump, W. Clement Stone, Wallace Wattles, among others of the same line.
Make choices on living cashflow for today and retained retirement for tomorrow as your personal financial goal, purpose and lifestyle. Business professionals run their home finances just as they run their corporate business finances. This is why they have non-stop cashflow to do what they want. Making money doesn't stop when you cash the check and put it in the bank. You absolutely must know where your money is going and account for it. Manage your own personal expenses as you do your business, recording the purchases you make in a notebook or journal for a month. You will see exactly how much money you are losing in ' homebound overhead ' per that month.
The goal should be to put your money in your account and then move it to target areas. All business people have multiple bank accounts, 99% of the reason is NOT because they have so much money but to simply better manage and keep it seperate.
" Out of site, out of mind " is the best phrase to represent this. IF you don't have the money in your pocket or instantly available on your debit card, you aren't likely to spend it. Same principle here. IF you have all of your money in one general account, it is going to spend all for that one purpose - general stuff.
Put your money into multiple savings accounts. A bank you work with will happily give you as many of them as you want. They are cheap to open and gain secure interest while building the funds for something better to invest in.
Donald Trump stated that he has multiple accounts for various things; retirement for any unexpected issue that causes forced retirement on him, as he has openly stated numberous times that he would retire when he was buried and gone...
home maint/management for his bills, vacation account for his vacation, travel account that manages his personal cars,yauchts, plans, helicopters, etc, etc, etc....right down the line.
Plan your home business plan as well. Know where your earnings are going and then you won't have to work so hard to get more for replacement. Study on what you need to be doing and where you need to be putting your money for it to not only remain in place for you in the future but to work for you instead of your working for it.
It isn't making money that is hard, people...it is keeping it. That's the challenge.
I hope this motivates you to gain insight and if nothing else, take a moment and think about your future and where you want to be from where you are now. The only thing holding you back in this world...is you.
Best of luck with all your ventures.
So, I'm going to post this in hopes that it will cover the basics for those that need them.
Basic Business Practices for Newbies:
The internet business world works the same way as the offline business world does. Sure, we have differences that allow advantages and/or disadvanatages for both sides, as with anything. However, in principle and practice, the fundamentals are always the same. Keep an open mind and remember that without a strong foundation, every building eventually crumbles onto itself.
Real, quality business sites are required to make the level of profit that will change your life. Focus on building websites that will brand themselves in due respect and authority by building them properly and steadily. In building a site on the foundation of a real product/service, authority of relevant content targeted for the visiting traffic and the search engines alike, you will succeed.
Understanding real business starts with a solid foundation of knowing what bases need to be covered right out of the gate. That comes with setting a solid business plan. However, traditional business plans have a habit of falling a little short. So, I recommend a practice of pushing it to a higher level and making a ' business action plan ', which takes the process up where you map your action steps immediately into each place, rather than just filling in the blank of " I need to do... " and leaving it at that.
Knowing now what you are going to do then will build the focus and confidence to simply do it rather than pondering the ' how ' to death with typical " WHAT IF? " questions, which cause procrastination, doubt and more importantly, lack of action.
Set your plan for 3 levels of operation from jumpstreet. Set it for 3 month goals, 12 month goals and 5 year goals. The reason for these wide range of settings is that everything can change in an instant online. IF you are working for the goal of 90 days on your short term goals, you will be more flexible to adapt and see what is working and isn't through your analytics and standard testing practices on sites and business techniques within your daily work routine.
If you are updating every 3 months, you will be open to easily adjusting your 12 month goals to be met, as well as to adjust for an ever-changing market. The same with the 5 year goals, however, with one ammendment to the rule...5 year goals are for where your company should be in success when you get to that point in your longevity. It should be all about the end result of you meeting all of these goals of the 5 year plan within these 3 and 12 month spans.
Finally, every time you complete something off the list of your plan, update it by making a side list of what you have accomplished and updating the current business plan with a new goal being added to the 5 year plan to work into your 3 and 12 month plan routines. This constantly keeps you moving forward and your business doing the same. This eliminates the room for worry, doubt and of course, lack of action.
You will be focused on your goals rather than anything else, which takes up that slack in your life for the negatives to sneak in.
Setting your professional business and customer service standards are critical at this point. Decide now what you are going to do and how you will handle your customer care, products/services, refunds, etc. This is all about handling the prepared scenario of " what if ? " in a positive light. Every great business person knows that if you have a response/reaction for every unexpected action, you will be calm, collected and able to handle it as a leader should, which solid thought, attention and resolve.
The military around the world is based on this philosophy. It is grounded in physics and science as well. Every action has an equal countering reaction.
" Plan for the worst and hope for the best. " is a saying that sums it up best in my opinion. Business and in life for that matter have this rule at its core. Those who prepare and have a response are never the victim of their environment. My practice that I recommend to you today is to make a list of what could be faced not by you but ' by your customer ', from your company. It could be a busted vase or a corrupt program download, etc.
Whatever it is, think of it from your customer's perspective and ask yourself what you would like to be done if it was you in their place. Then, come up with 3 or more countering responses to resolve the issue to the best of both your positions. In the example case, you could offer a refund apologize, replace the item and apologize, offer them coupons for a discount on their next purchase or on their membership fees, etc.
Learn real business skills for business operation, business and financial management, business growth and expansion, as well as proper real world investing of profits for generating passive income from your hardwork, to benefit your entire company. Pay attention the this next statement, please.
Read the great minds of business, both new and old, as well as business manuals and basics to build your future.
I am not talking about ' guru ' business books. I'm talking real money makers of the world; Donald Trump, W. Clement Stone, Wallace Wattles, among others of the same line.
Make choices on living cashflow for today and retained retirement for tomorrow as your personal financial goal, purpose and lifestyle. Business professionals run their home finances just as they run their corporate business finances. This is why they have non-stop cashflow to do what they want. Making money doesn't stop when you cash the check and put it in the bank. You absolutely must know where your money is going and account for it. Manage your own personal expenses as you do your business, recording the purchases you make in a notebook or journal for a month. You will see exactly how much money you are losing in ' homebound overhead ' per that month.
The goal should be to put your money in your account and then move it to target areas. All business people have multiple bank accounts, 99% of the reason is NOT because they have so much money but to simply better manage and keep it seperate.
" Out of site, out of mind " is the best phrase to represent this. IF you don't have the money in your pocket or instantly available on your debit card, you aren't likely to spend it. Same principle here. IF you have all of your money in one general account, it is going to spend all for that one purpose - general stuff.
Put your money into multiple savings accounts. A bank you work with will happily give you as many of them as you want. They are cheap to open and gain secure interest while building the funds for something better to invest in.
Donald Trump stated that he has multiple accounts for various things; retirement for any unexpected issue that causes forced retirement on him, as he has openly stated numberous times that he would retire when he was buried and gone...
home maint/management for his bills, vacation account for his vacation, travel account that manages his personal cars,yauchts, plans, helicopters, etc, etc, etc....right down the line.
Plan your home business plan as well. Know where your earnings are going and then you won't have to work so hard to get more for replacement. Study on what you need to be doing and where you need to be putting your money for it to not only remain in place for you in the future but to work for you instead of your working for it.
It isn't making money that is hard, people...it is keeping it. That's the challenge.
I hope this motivates you to gain insight and if nothing else, take a moment and think about your future and where you want to be from where you are now. The only thing holding you back in this world...is you.
Best of luck with all your ventures.
