Raj Kapur - "Guidance to Wealth" IBGR - PROFIT Radio Network. Everything a business owner needs to start, grow, or exit a business. Come grow with us. Introduction THE FOUR PHASES OR PILLARS OF WEALTH AND MONEY TO UNDERSTAND AND MASTER AS A STARTUP ARE:
Show Objectives These are the four phases or pillars of startup success in terms of business and money.I believe all these are important components of business growth and sustainability. I have had many businesses and noticed that even if one of these is missing the consequences can be detrimental. As we go through the phases make notes as to where you are in your business progress and are you planning on all these facets or are you just stuck with one. Key Issues
So the generation of the money is the first essential thing as a startup and that is your first priority, without the generation of money your startup is not going anywhere and neither are the rest of the avenues. If you are in a brick and mortar business, think how can you expand your business in the online world. How to reach your clients via social media and how to make your presence online. The idea is to create a tribe of people who can follow you and you keep on adding value to them. Business and Marketing Plans - Have you worked on those? We spoke about them in our last episode. What You Need to Do
Pay yourself first. Paying your business first. Savings is essential for long-term business survival. Have at least 3 months and a backup plan. What You Need to Do How much do you have if your business runs into tough times?__________________ What is your goal here _________________. Business Planning and planning in case of adversity Budgets and tracking your revenues and expenses.
What % of monies can you invest in growing your business and growing your money? What does growth look like for you? What You Need to Do Start looking for your monies working for you. Profit first is the key before expansion. Take the risk but a calculated risk. Check your finances, your funds, your revenue streams and how strong they are before embarking on the business growth. Invest your money so that you can get it compounding to make money. Invest in yourself and your staff growth Invest in your Weaknesses.
Do you have adequate protection for your business? Are you adequately insured? Have you created the type of organization where your personal funds are not going to be harmed in case of adversity or a lawsuit? What You Need to Do Speak to a lawyer and CPA about the protection of your business - Copyright or a Trademark? Take a look at all the protections that you need for yourself and your business. Get adequate insurance Shows Previous: Business & Marketing Plans - Raj Kapur Next: F2.05.3NA Funding for Startups - Raj Kapur Written by: Raj Kapur www.RajKapur.com www.NonProfitEdge.org F2.04.3NA
0 Comments
Leave a Reply. |
new choice for BUSINESS SEARCHArchives
May 2023
Categories
All
|