Two Minute Business Wisdom

You cannot put your full focus on growing new things if you are stuck managing all of the old things.

If your not-independent-business-side-hustle seems to be working for you, it might be time to consider working for a boss that offers a product you can sell without having to purchase it first.

That thing you enjoy doing that can generate money may be just a hobby, but if it can pay for itself and lows you some room for growth, there is a possible path to it growing into a sustainable side business, or even a full time business.

A firm simple but functional structure may not be exciting, but will lead to less burnout and turnover from the main staff.

If you producing a solid lever of revenue from your current leads and conversion policy, doubling your efforts is the simplest way to double your revenue.

One of the best way to show your master of business is the mastery of knowing what is actually in the contracts and terms of agreement you sign and agree to. Time to make use of another skilled you have already mastered, reading, and read the fine print of your contracts and terms of service.

If you keep a person from advancing in your organization because of your need for them to do the thing they are already doing, in enough time, they will find that position with another employer.

One of the fundamental pieces of a product life cycle is the end, as in, what do I do with all this inventory that I didn't sell now that the company has failed.

People buy when they find themselves resonating with your story. Make sure that story is a good one, with as little embellishment as possible.

Being a generalist may not bring in whale clients, but if you’re getting plenty of fish, does that matter?

Business sense is a combination of the senses working together, not just a preference over one.

Do you feel threatened by competent employees? How is this affecting your hiring and retention? How is this affecting your new customer acquisition?

Business success has a lot to do with your skill, but much more to do with the conditions of the market and the inability of your competition to be successful than most want to admit.

Slotting in tasks as you 'find' free moments is great. Don't confuse person time with unscheduled activities as 'found' time for work activities.

Lemonade stands are always profitable because the operators (children) don't have to pay for the supplies and the customers can't refuse the product (because they are children), even in spite of its terrible quality.

From well-measured samples to full services on the house, offering up a taste of what you can get as an enticement to bring in clients is a well-established business tactic. But just how much free stuff will weigh out to a level where it is hard to maintain a good profit margin?

If you are blessed to have a mentor to help you navigate the world of business, do everything in your power to maintain that mentorship for as long as possible.

Goals will ensure you are paying attention to the progress you are making (or not) in your journey as a business owner. Milestone will creep up on you as that journey soldiers on and need to be addressed and celebrated when reached.

What your expedient mobility really does is leave a wake of destruction that may never be fixed that you will never get the blame for as you leave for your next destination.

Is it legal to make a person wait for an hour past their scheduled interview time to start the interview? Yes, it is legal, and yes, it paints a terrible picture of your company.

Delayed gratification is a key to success. Self-inflicted torture is not.

Premium prices are a fair cost to pay (and charge) for premium services. There has to be a financial angle for providing more than adequate support.

The formula is simple. Acquire an object or skill worth something. Find someone willing to purchase the object or skill for a value more than what you took to acquire. Complete the transaction. Do this repeatedly.

Lessons are learned in losses, and a stable business can usually only claim success after a good strong of significant losses.

Finding sustainable work on sites like Fiverr and Upwork is hard. Don't let anyone convince you otherwise.