The Characteristics Of A Successful

Business

2

•One of the ways

to improve

business profits is

to practice great

money

management.

3

•Most of the time, companies

and start up businesses overlook

their everyday spending

4

•and can, for most

of the time, be

saving a

significant amount

of money if they

did.

5

•These are called the ‘not critical’

aspects of the business, or certain

things that can be replaced with

cheaper and just as effective

techniques.

6

•There are entire

companies that

are dedicated to

this, called

damage control

7

•The damage a business does to

itself is not tightening the tap on

the money tank, their employees

8

•or even their basic

infrastructure

seems to be

spending on things

that are totally

unnecessary and

totally

inconsequential.

9

•You need to investigate every

aspect of your business and how

your money is being spent.

10

•Sit down with

your partners and

your employees

and bring out the

accounting sheets,

tracking every

dollar down.

11

•You would be shocked and

surprised at the sheer amount of

money that you would be saving

12

•Some business

have found that

they were over

spending in excess

of $30, 000 a year

13

•money that could have been used

to increase the effectiveness of the

management process or simply to

develop the business further

14

•Another way to

improve

business profits

is to diversify

15

•Business models that are stuck in

a single dimension paradigm often

see profits stagnate

16

•because they

are hooked on a

single market

and refuse to

trying new

things.

17

•Diversity, try new projects and

even venture into riskier areas of

the market. But with that comes a

risk

18

•You need to have

the ideals of

effective money

management and a

good head for

seeing threats on

the horizons

19

•Taking risks have been the

mantra of the most successful,

look at Microsoft, or Apple or

Virgin Airlines, Google etc

20

•They have been

carrying the flag

of taking risks

from the first time

they have started.

21

•and they have diversified into

every aspect of the market.

Think small scale and apply it to

your business.

22

•That is where

growth comes

from and that is

where your

increase profit

comes from

23

•from different revenue streams

that will allow you to maximise

your assets and get great returns

from all avenues

24

•The other way,

and this is for

the start up

companies, is

to get a virtual

office.

25

•Starting a business is

essentially starting a risk, no

matter how air tight your plan is

26

•what you need to

do before

committing tens of

thousands of

dollars to leasing a

physical office and

getting office

equipment…

27

• is to go virtual and see how

your plan works out!!

28

•If your product or

service has

phenomenal success

and the response is

brilliant, then you

can think about

getting a base of

operations.

29

•It is all about reducing the risks in

your plan and cutting costs through

avenues like a virtual office

30

•It is a great way

for you to test bed

your ideas on the

living market and

see whether it will

reap you the

rewards you

deserve

31

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