Erma Bombeck said, “Never go to a doctor whose office plants have died”.
Pretty sound advice, wouldn’t you say? And it also makes sense to take advice from folks who have had growth success.
Look, here comes one now! Let’s stop this gentleman in his tracks and pick his brain to see what advice he can offer on how to be successful in business.
She asks, “Hello there sir. Would you care to share a bit of your wisdom gleaned from many years of entrepreneurial success?”
He answers, “Of course Laura, I’d be happy to!”
She says, “Wonderful! So please tell us who you are and what you do…
Let’s listen to Jeff Schneider, President of EFA Services (Entrepreneurial Finance and Accounting Services) as he shares…
Jeff Schneider Business Tips for Entrepreneurs
Top Tips for Entrepreneurs and Small Business Owners
1. Pay the Government. If you don’t, they’re worse than “Guido”! Penalties for not paying taxes can be detrimental to your health!
2. Understand your weaknesses. People start their own businesses because they have a special skill, but it’s important to understand what are they weak in?
3. Plan, plan, plan. Create a written business plan and financial plans. Forces you to think through all aspects of the business – marketing, sales, finance, HR, etc. Then share your business plan with others to get feedback on what you might be missing.
4. Have a financial budget for the year broken down by month. How do you know if your results are really leading you where you want to go? Maybe you could be doing more and making a higher profit! It also helps you understand your business better.
5. Learn from others. One of the biggest frustrations I have is when I hear about businesses suffering because they didn’t listen to experts who offer good advice. Get as much advice as possible, get yourself a coach and look for new and different ways to get helpful information.
6. Plan to adapt. It’s amazing how much adjusting is necessary despite all the best planning you do up front.
7. Analyze your skills. Be clear where your talents are and don’t be afraid to outsource what you’re not good at.
Jeff’s Best Reading Recommendation: The E-Myth, by Michael E. Gerber (Also, don’t miss The E-Myth Revisited)
How about you? Any tips or suggestions you’d like to offer as a comment? If so, please post them below!
Laura, writing from a little log cabin 7200 ft. above sea level!
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Hello Laura,\
Happy New Year 2010!
I noted your comment from Darren’s forum and got attracted to you idea to split your blog into 3 sub blogs.
I run a Strategic Planning related niche and wonder if my niche can complement each other ( with your business coach blog )
Have a nice day
Dr. L M Foong
Happy New Year to you as well! Thank you for following my comment and ending up at this site! Yes, I did see the wisdom of separating my blogs when it became clear my subscribers had very different interests and needs. Business owners and those on commission are committed to “pay for performance” and deserve every tip and resource possible to help them succeed – especially these days! I’d love to talk to you more about your SWOT Analysis Template and perhaps we can do an interview for a future blog post too!
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