HOW TO MAKE PROFITS IN BUSINESS

Every entrepreneur will tell you they are allergic to loses. Nobody starts a business to make losses, but to post profits. There are so many secrets of making profits that most business persons are not armed with. Such secrets are possessed by entrepreneurs who have made it in life.

Making profits means travelling a journey towards wealth and financial freedom, which is why you should follow the following rules:

1. Don’t mix friendship with business

In order to make profits, the owner of a business should separate friendship with business; this is the only way you can ensure that your business survives.

Remember some friends are not happy that you are running the business; some of them may be on a mission to finish you so that you can fall to their standard.

Your mind should always focus on business…even if it means losing a friend so as to make profits.

2. Be consistent

In business, being predictable is what your customer expects from you. If you are running a restaurant ensure that the food you provide today is the same food you provide tomorrow and in future. You are allowed to add stock but don’t make a mistake of not preparing a meal that was available yesterday unless no one is ordering it.

Always ensure that opening and closing hours of your business is known to customers regardless of circumstances. If you fail to open today, your customer will move to the next shop and if they find the product is the same as yours then you are likely to lose him.

3. Have the right staff

Having the right staff is the key ingredient of a successful business. This group will either chase away customers or build an empire for you.

Whenever you are seeking staff, conduct the exercise professionally; mixing bribery, nepotism and tribalism may not help you.

It has been proved that most businesses are killed by relatives and people you think they can help you. It’s good to hire someone you are not related because if you do this, you will have all the courage to question him on issues related to the business than a friend or relative.

The right staffs always know if they mess up your business ,they will face the full force of law and no one will interfere, but in most cases if your relatives messes, your community might interfere thus affecting your business.

4. Monitor every coin that comes from the business

Business is all about profits unless you are running a traditional church. In order to make a profit you must monitor every shilling that comes from the business.

Every day ensure that stock count is done then ensure that your employees explain each and every detail of the transactions. You may not be physically there but you can have efficient systems to monitor the business.

5. Motivate your employees

This is where most business owners go wrong and it has resulted to many businesses collapsing.

Once you start treating all employees as thieves, you give them little time to rest, you don’t motivate them with awards, leave, end year party then know that they will gang against you and kill your business.

Employees can be dangerous and the earlier you realize that they are important the better, otherwise you will regret!

Invest in your employees, give them good salaries and make them feel part of the company, that’s the only way you can see results.

6. Don’t focus on competitors, focus on the product

Every business has competitors and if you want to beat the competitors don’t concentrate on what they are doing but concentrate on the quality of the products and services you are offering.

If you focus more on competitors you will lose direction and mess up your business.

7. Employ strategy

Strategy is important aspect of running a successful business. Without strategy, you will not beat competitors.

8. Sell unique products

Being unique means standing out. It might take time to break even but once you have entered the market and people have tested your product, you will make it

9. Know the taste of your customers

Business is all about what customer want.

Finally, the best way to stay motivated in the business world is simply achieving success. ~Sam

THE NEW ECONOMY.

The world as you know it has changed. For the people who don’t recognize that fact, it will be the
worst of times. For the people who do, it will be the best of times.
Over the last 100 years, an interesting phenomenon occurred. The rise of the corporation became
the standard in society. The safe and respected place for people to exist in the workplace was as an
employee.
Step one: Go to school to learn how to be an employee.
Step two: Find a company that will employ you.
Step three: Work for that company for 40 years.
Step four: Retire.
In recent decades, the promise of being rewarded by the company for your loyalty and hard work
has been exposed as a myth. People began to realize the loyalty they were giving to their company
was not being given in return. So a different process evolved.
Step one: Go to school to learn to be an employee.
Step two: Find a company that will employ you.
Step three: Switch companies for various political and economic reasons every three to five
years over the course of your career.
Step four: Find that you can’t retire comfortably after 40 years, so you keep working.
And now we are going through the biggest shift in any of our lifetimes. For a century, companies
have paid people by the hour, by the week, or by the year. That’s changing on a global level.
The world is moving toward a performance economy. And it’s already happening. Here’s what that
means: In the future, you’re only going to be paid for performance. You won’t be paid for your time
anymore. Servers in the food industry already live in this model. They get a very low hourly wage
required by law and they make their living through tips, based on their performance.
If you can imagine the same model being applied to virtually every job in the world, you will see
what is coming. The person cleaning the rooms in a hotel won’t be paid by the hour anymore. They’ll
be paid per room.
For office workers, here’s an example.
A person has a $60,000 annual salary.
Step one: The company will lower that salary to something like $50,000 because with today’s
marketplace there are other people to take the job for a lower amount.
Step two: They will reduce their “base” salary to something like $20,000 a year.
Step three: They will tell that person that they can get an additional $30,000 over the year if they
hit certain performance benchmarks on a monthly basis.

😇😇😇😇😇😇😇😇😇WAKE UP AND DISCOVR YOUR POTENTIAL, WE ARE LIVING IN THE ERROR OF 21 CENTURY. 

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TRUSTING

If customers don’t trust you to help them at the beginning of the sales process, they certainly won’t trust you with their money at the end of it.

Where’s the good in goodbye,
Where’s the nice in nice try,
Where’s the us in trust gone,
Where’s the soul in soldier on,
Now I’m the low in lonely,
Cos I don’t own you only,
I can take this mistake, but
I can’t take the ache from heartbreak

No Good in Goodbye ~ The Script

“Where’s the us in trust gone?” I was listening to this song this past week and of course that particular lyric caught my ear. The song describes a person who has done something to damage a love relationship and is lamenting the pain of the breakup. It got me thinking of the inherent one-to-one nature of trust.

Yes, trust can be applied on a generalized level such as the trust one has (or doesn’t have) in government, companies, or other entities. But in its purest form, trust is a psychological and emotional construct between two people and there are three important truths that apply to building trust in relationships:

1. Risk is required — You don’t need trust if there’s nothing at risk. That’s called certainty, a sure thing, a guarantee. But if there is risk, if there is a chance you might get burned extending your love, money, or faith to someone else, then trust is essential. A part of that risk involves someone making the first move in extending trust. Trust doesn’t happen by accident. In order for trust to develop in a relationship, one party has to make the decision to extend trust in the hopes it will be reciprocated. That’s the only way it happens. Ernest Hemingway summed this up simply yet eloquently when he said “The best way to find out if you can trust somebody is to trust them.”

2. Trust cannot be demanded; it must be granted willingly — Trust, just like love, commitment, loyalty, and other relationship dynamics cannot be forced upon someone; it must be given. Each person is unique in regards to how they grant trust to another. Some have the philosophy of “I’ll trust you until you show me I shouldn’t” while others have the approach of “I won’t give you my trust until you earn it.” Our propensity to trust is shaped by many factors including our level of psychological and emotional maturity, risk tolerance, the balance of power in the relationship, childhood experiences with trust, and our morals and values. Regardless of how a person is “wired” to trust, you can’t demand they give it to you. They must decide on their own to give it to you.

3. Trust must be nurtured — Trust is not a one and done sort of thing. You don’t give or receive it and then forget about it. You must constantly protect and nurture it in order for it to deepen and give life and endurance to the relationship. Trust sustains relationships through the tough times. It’s the element that breeds safety and security in a relationship so each person knows that no matter what happens, I can trust you won’t hurt me or take advantage of me. In the garden of relationships in your life, trust is the water that keeps them growing, blooming, and maturing to fullness. Without trust those relationships will wither and die. Unfortunately, too many people only think about trust when it has been broken. Don’t let that be you. Never lose sight of trust and keep working to make it stronger day by day.

There’s no trust without “us.” You and me. Two people willing to take a risk and make themselves vulnerable to each other with the expectation the other won’t take advantage. We don’t demand it of each other, but we give it willingly because the other person has demonstrated their trustworthiness over time. And we constantly nurture the trust in our relationship so it continues to grow over time and works in a reciprocal fashion to constantly strengthen itself. That’s the “us” in trust.