Very Important Tips Every Business Must Follow

The BBC's weekly series, The Boss is a wonderful resource centre about inspiring business leaders from across the globe. I just finished reading today's instalment about the resilient Kimberlee Perry, the founder of trampoline fitness company, Bounce, and these are my takeaways from the piece. I've posted the story link below, and I suggest that you read it too.

1. Turn your challenges and frustrations into opportunities. 

2. Invest your energy in projects that you are passionate about and that give you enjoyment,to the point that you can do them for free. This helps your mentality and creativity to overcome the myriad business start up issues that entrepreneurs face daily. This is not suggesting that you should not plan to make money out of it, but making a financial kill should not be the primary driver.

3. If you do not have the resources to start big, start small. Just get to doing something. In fact, it may be better to start small so that in case your project goes belly up, you don't lose much.

4. Reinvest your early profits to grow your business, rather than indulging in vain consumption with early success.

5. Do not be docile and get carried away with mild success. Continuously be creative and innovative with your product and service offerings. 

6. Focus on your market and deliver with strong customer services orientation. Your customer is king. 

7. Trust, transparency, fairness and integrity with your business partners and financiers are integral to your business’s success. Even if you are in control of all business elements, fairly and voluntarily share profits with business partners weighted to their contributions. 

8. No matter what, the last thing you should not be is to do nothing and be waiting for something. This never works in the long term. 

9. Keep trying and trying until your project achieves success. Work at it diligently and do not give up at the slightest challenges you face. 

10. Sometimes business projects fail, either because concept is poor and unacceptable and or you did not plan/operate it efficiently. If your project has clearly failed, learn from it and go back to #1 above. 

https://www.bbc.com/news/business-53579590