Five Rules for Business Start-Ups (Continued)

Look For Solutions
Find a problem and solve it. Find a problem that everybody’s got and see if you can’t come up with a solution for it. Find a way to supply a product or a service better, cheaper, faster or easier. Clemmons Wilson saw that there was a need for hotels that could accommodate families that were traveling, and he started Holiday Inns. And Holiday Inns has now become one of the most successful hotel chains in the world.

Focus On Your Customer
Here’s the key to success in business. Become obsessed with your customer. Fixated on your customer. Think of the customer. Think of what the customer wants, what the customer needs. What the customer will pay for, what the customer’s problems are. Thomas J. Watson, Senior, the founder of IBM, taught his people and built his company on this principle. See yourself as working for the customer. Once you’ve come up with a product or an idea, then start to invest your time, talent and energy instead of your money, to get started.

The Source of Most Great Fortunes
Remember this, most great fortunes in America were started with an idea and with personal efforts. Most great fortunes were started with the sale of personal services. This is called sweat equity. In other words, instead of cash equity, put in sweat equity. Put in the sweat of your brow to begin your business. You can learn valuable lessons operating on a small scale.

by Brian Tracy

So where are you now in terms of your (potential) business? If you find yourself lost in the middle, never miss a chance to drop by at DMI office or even better still, attend our upcoming training!

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