Many businesses have failed and will continue to fail as long as business owners and managers keep doing stupid things.
Any new idea, training or innovation that teaches you to ignore tested and trusted universal rules is simply telling you to reinvent the wheel. And the question is; can you reinvent the wheel?
For instance, ‘the customer is king’ is a universal rule in business. No matter how excellent your service may be, if there are no students, failure is inevitable. Ignore your market, be prepared for extinction!
The following nuggets are essentials for growing and expanding your business. They are timeless rules for managing a successful business.
Some things never change. Know the difference between what will change and what won’t, and pay serious attention to the former.
Profits are important. If your business is not generating sustainable profits, sooner or later you will be out of business.
Know the dynamics of cash flow. If you don’t manage your cash, you won’t be managing anything for long.
Give customers what they want, not what you want to give them.
Employ qualified hands and treat your employees as humans, not as machines.
Results are more important than process.
Create sustained continuous brand awareness for your business. Don’t ever wink in the dark because you won’t get noticed… out of sight is out of mind!
It is a fruitless effort trying to reinvent the wheel. Rather, concentrate on your core business.
In conclusion, dear school owner, we would like to benefit from your wealth of experience.
Which of these seven nuggets can you elaborate on?Leave a comment below and let’s have a conversation.
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