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#1 (permalink) |
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Business Guru
Join Date: Dec 2003
Location: Near Inverness, Highlands, Scotland
Posts: 7,955
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Just read a couple of articles from Andy Beal - absolutely awesome.
He's a guy who's been doing SEO for some time now, and really worked his way up through the ranks to work at the corporate level. A couple of complete gems to read: Top 10 Business Mistakes Search Marketing Firms Make Five Secret Strategies to Add $1 Million in Revenue to your Interactive Marketing Agency in 2007 Even though he's talking about the SEO/SEM business specifically, the I strongly suspect many of the priniciples could be applied throughout various business verticals. Got to admit, one of my own key business problems has been expansion - not simply clients, but staff. Trouble being, everything revolves around what *I* can do, which leaves me tied to every day to day element of running a business. Do I want a bigger business? To some degree. What I really want, though, is a more stable and secure business. Am going to spend some more time reading Andy's comments.
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#3 (permalink) |
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Member
Join Date: Jan 2007
Posts: 46
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[/quote]
Do I want a bigger business? To some degree. What I really want, though, is a more stable and secure business. [/quote] This is very smart. You don't want your business to grow before you are ready - if you get very good at what you already do, then you can offer the same service to a bigger market, and be confident that it will not cause problems. Some businesses grow so fast, they can't keep up with demand, and they end up losing everything or having to sell out to someone who can handle it. It's hard to be visionary when you are treading water to keep up. |
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#5 (permalink) |
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Senior Member
Join Date: Oct 2006
Posts: 131
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You don't want your business to grow before you are ready
I'm a believer in this approach. My business is growing almost exactly at the rate I'm able to maintain. I did get some crap for being satisfied with that, but I noticed that the person giving it to me wasn't running a business. |
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#6 (permalink) |
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Junior Member
Join Date: Jan 2007
Location: Canada
Posts: 7
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The only way your business will increase. It depend on person that running the business. Putting in the time and effort. Also taking action is the key to run a successful business.
Brian thanks for the articles they have been real helpful |
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#7 (permalink) |
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Member
Join Date: Jul 2005
Posts: 93
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I have always believed that my customers are trying to teach me how to run my business, and I try to listen to them. They are always telling me what they want, and it is my job to find a way to help the most customers possible in an efficient manner that is profitable.
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#8 (permalink) |
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Senior Member
Join Date: May 2004
Location: Luton
Posts: 234
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As the saying goes: Turnover is vanity, profit is sanity, but Cashflow is reality.
But then again, I would far rather be handed a business turning over 1 million with 10k profit than a business turning over 100k and 40k profit. More room to decrease costs with the 1 million turnover business. I'm in a position right now where the company is growing but I'm having to get my house in order Re: little things that make it all up. Otherwise things can quickly spiral out of control and jobs pile up. |
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#9 (permalink) |
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Member
Join Date: Jan 2007
Posts: 46
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There are certain things you have to take into account when deciding if you want your business to grow - the most important of which is whether or not you personally can handle it. You have to be able to meet the demand, both with your supply and your time to deliver it. It's kind of a juggling act.
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