5 Key Steps to Your Financial Success

5 Key Steps to Your Businesses Financial Success!

MAKE YOUR LIFE EASIER WITH THE SOLUTIONS YOU NEED DELIVERED!

Q: How can someone living in Melbourne fund a brick & mortar startup with very little capital of their own and still ensure your businesses financial success? A. Taylor Melbourne, Au.

It really doesn’t matter if you live in a large city, a small town, or even which hemisphere. The key steps to your businesses financial success is in your “business practices”. Today we are going to give you five key steps you can take today and some very straightforward advice that has helped thousands of businesses become financially successful.

Start small and build strong to ensure your business financial success.

You may want to be the next Elon Musk, but your business’s financial success is not going to happen overnight no matter how hard you work. Start small to test your business model. Then if it proves worthy, build from there. Remember, many of our most successful businesses today were started in their parents’ garages. Don’t employ staff until it makes financial sense to do so.

Your Businesses Financial Success Depends on You Getting it in Writing.

I don’t care if you’re borrowing from your old boss, your best friend, or your parents, your businesses financial success depends on getting the terms of the loan in writing. I know it’s highly unlikely you’ll take advantage of one another. However, you will be able to refer to the contract to protect your relationship from those awkward conversations about whether or not you owed them a payment last month.

If you need more cash, create additional revenue streams.

It is critical for your business financial success especially in difficult times to have multiple streams of income both personally and professionally. If one stream is slow or struggling your others can help support your business while you make the necessary adjustments.

Never and we mean NEVER use personal assets, credit cards, or household cash to fund your businesses financial success. Period.

To fund your start-up business I strongly recommend that you set up a savings account well in advance of starting your business and contribute to it as often as you can. It is very normal to work your regular job for a while as you build your business into something that can financially sustain you and your family. Once you reach that point you can leave your old job and work your own business full time. This is an extremely common practice in many start-ups and a wise strategy.

To improve your businesses financial success before you start, make sure you have a high demand market for your product or service that is not adequately being met by others in your industry. Identifying a potentially successful market niche begins with determining the emotional motivation of your customers or clients. Ask the following questions to clarify your niche market ideas and identify the ones that will be worth you time and effort to pursue and test. This simple test can save a tremendous amount of work, stress ,time, and money. Here is how to get started. Ask yourself the four questions below when considering a niche market. If you get four yeses then you have a good niche marketing idea and you should test it. If you don’t get all four yeses then you need to fine tune your idea until you do. Use this test each time you are considering launching a new product or service and you will dramatically increase your chances of success.

Is my customer or client experiencing an urgent need, worry, pain, or strong desire?
Is my customer or client currently searching for solutions to their most urgent need or problem?
Does my customer or client have few if any recognized options or solutions to their current problem or urgent need?
Is there a large group of people (1 in 500) who are currently looking for a solution right now?

Something Special to Help You Get Started!

To help you get started we have created a Business Plan you can download right now to help you stay on track and successfully build your business. Get yours here! You are going to need to write out a business plan for your company. This is literally your pathway to success. The process of creating your Business Plan is where you avoid costly mistakes, see potential opportunities to build your customer base, innovate, and design solutions to your customers’ most urgent needs which in turn, helps you generate more income.

Your Thoughts…

If you have enjoyed this newsletter please feel free to pass it along to someone else who you think would also enjoy it. You can also Subscribe to have more tips, tools, and resources that you need for your business delivered directly to you each week! We would also gratefully welcome your Donation if that is a better choice for you.

Now, we have a few more things for you!

Join The Fun!

You can join the fun on our Substack Chat, Substack Notes, Twitter, and Instagram and share your own success tips! We love hearing from you and read every post personally! If you have enjoyed this newsletter please feel free to pass it along to someone else who you think would also enjoy it.

Have a comment or question about this week’s post?

Let us hear from you! Post your own success stories or ask a question about how to move your own business forward to success! If you have a question about your business please feel free to Contact Us and send a personal message.

More Success Tips!

If you are looking for more practical hands-on help we have two other resources for you. First, we have created Business Genesis and our Small Business Toolkit for small business owners just like you to help you start and grow your own successful business and meet today’s challenges head-on with confidence. You can find yours right here.

MORE TOOLS AND RESOURCES TO HELP YOU GROW YOUR BUSINESS

Business Genesis is a Step-by-Step Online Training Course That Shows You How to Start, Grow, and Market Your Own Successful Business Doing What You Love!

Everything you need to guide your very first steps is laid out for you in simple , easy to understand and organized modules with easily accessible lessons.

Business Genesis shows you exactly how to create financial security and build your brand and customer base, shows what works in marketing your business to the world, and guides you how to leave a legacy of success with tips and tools to help you build financial security and positive impact on your local and internet community.

You can finally enjoy the freedom of doing something you love and generating an income you can actually live on. Get Started Now!

How Business Genesis Can Help Me Now!

How To Know When to Start Your Own Business!

The 5 Personality Types of Successful Entrepreneurs!

5 Ways You Can Turn A Mistake Into Money!

How to See Opportunities for Business Success!

5 Key Steps to Your Businesses Financial Success!

5 Tips To Successfully Start Your Own Business!

How To Create A Website Your Customers Will Love!

3 Money Secrets You Need To Know!

How To Create a New Career and Life Out of Chaos!

How to Fund Your Business Without Creating Debt!