Gill Report Vol. 1
Gill Report Vol. 2
Biz Tips
Dear Clients:
These traps/mistakes are common to many entrepreneurs: Be
aware and be prepared and you can stop them!
1. Getting Wedded To an Idea And Sticking With It Too Long.
2. No Marketing Plan.
3. Not Knowing Your Customers.
4. Ignoring Your Cash Position.
5. Ignoring Employees.
6. Confusing Likelihood With Reality.
7. No Sales Plan.
8. Being a Lone Ranger.
9. No Mastermind.
10. Giving Up.
1. Getting Wedded To an Idea And Sticking With It Too Long.
Don't marry a single idea. Remember, ideas are the currency of
entrepreneurs. Play with many ideas and see which ones bring
money and success. Talk about them, talk them out, and always
react to good ones FAST! And even faster to bad ones. We all
make mistakes - that is okay - just don't hold on to them.
back to top
2. No Marketing Plan.
A marketing plan creates the kind of attention you need to get
in front of the right types of people, companies, etc. It is
what attracts people to you! There may be as many as 25 ways
to market your business at no or low cost. A good marketing
plan implemented effectively, efficiently, elegantly and
consistently, will eliminate the need for "cold calls!"
Building relationships is also part of this - got to know them
first.
back to top
3. Not Knowing Your Customers.
Changes in your customers' preferences and your competitors'
products and services can leave you in the dust unless you get
to know your customers well, what they want now and will
likely want in the future, what their buying patterns are, and
how you can be a resource for them even if you don't have the
right products or services for them now! Gather facts about
your customers and the people you'd like to have for customers
- research, research, research!!!
back to top
4. Ignoring Your Cash Position.
The world (aka customers) doesn't respond to even superior
products in the timeframe that you think they should. You'll
need plenty of cash to sustain yourself in the meantime.
Forecast your cash needs and protect yourself from cash crisis
situations!
back to top
5. Ignoring Employees.
Motivating, coaching and managing your staff is probably one
of your toughest challenges as an entrepreneur/business owner
today! Without your patience, persistence and "people skills,"
your problems can multiply quickly. Morale, productivity AND
PROFITS can easily be destroyed!
back to top
6. Confusing Likelihood With Reality.
The successful entrepreneur lives in a world of likelihood but
spends money in the world of reality.
back to top
7. No Sales Plan.
Without a sales plan, there's no serious way to gage the
financial growth and progress of your business. You need a
realistic map for where the sales will come from, how they'll
come and from whom.
back to top
8. Being a Lone Ranger.
You might be the key to everything BUT you cannot DO
everything and grow at the same time. Even modest success can
overwhelm you unless you hire the right staff and delegate
responsibility.
back to top
9. No Mastermind.
Get an advisory board or a mentor! Sounds crazy for a small
operation? It's not! Having someone to bounce ideas off and
get an objective opinion is critical.
back to top
10. Giving Up.
Some of the most successful entrepreneurs failed several times
before doing extremely well. So, if you're failing, fail. And
fail fast. And learn. And try again, with this new wisdom. Do
NOT give up. Yet, do not suffer, either.
back to top
