32 Ways to Profit - Small Business Success
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Transcript of 32 Ways to Profit - Small Business Success
Small Business Success
32 Ways to Profit
Clarify Objectives Constantly
Small Business Success
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Write down your personal reasons for
successful small business ownership.
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
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OBJECTIVES
Clearly state your business goalsregardless of your personal talents or skills.
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OBJECTIVES
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Schedule activities for each lifestyle area:individual, family, spiritual, career, financial.
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OBJECTIVES
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Plan your use of time in 30 minute incrementswith an emphasis on mandatory items.
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OBJECTIVES
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Enhance Management Skills
Small Business Success
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Develop a step-by-step action plan for eachof your individual and business goals.
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MANAGEMENT
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Report the results of your action plan
activities on a scheduled basis.
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MANAGEMENT
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Evaluate your results against the targetsyou set in your action plans.
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MANAGEMENT
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Develop alternative steps for areas of your
action plans which are under performing.
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MANAGEMENT
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Improve Finance Opportunities
Small Business Success
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Select a business entity which reflectsyour personal goals and facilitates funding.
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FINANCE
Create a budget and compare your
actual numbers to your forecast numbers.
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FINANCE
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Setup, maintain and regularly review
an accurate set of statements.
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FINANCE
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Project cashflow using a time frame
which allows you to prepare for shortfalls.
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FINANCE
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Fulfill Personnel Needs
Small Business Success
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Diagram your business structure by identifying
the jobs required to meet your objectives.
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PERSONNEL
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Only hire people who capabilities
and interests match your job description.
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PERSONNEL
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Compensate people based on the revenue
or savings they generate in their positions.
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PERSONNEL
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Motivate people by understanding why they
are working and what they want from their jobs.
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PERSONNEL
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Increase Marketing Effectiveness
Small Business Success
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Identify why people or companies buy your products and services and how they use them.
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MARKETING
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Understand who your customers are
and how they make buying decisions.
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MARKETING
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Develop a strategy for differentiating
yourself for your competition.
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MARKETING
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Use sales and promotional methods you can consistently and persistently execute with results.
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MARKETING
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Streamline Operations Regularly
Small Business Success
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Adopt an efficient administration system
for keeping your business records.
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OPERATIONS
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Make sure every square foot of your
business facilities is working for you.
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OPERATIONS
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Invest in equipment and technology only
after determining your Return On Investment.
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OPERATIONS
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Identify and meet the expense of all
business requirements in a timely manner.
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OPERATIONS
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Reduce Production Costs
Small Business Success
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Breakdown each of your products / services
into their basic components.
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PRODUCTION
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Outline the steps and costs of your production process for each of your products / services.
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PRODUCTION
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
List the steps and costs for the distribution
activities for each of your products / services.
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PRODUCTION
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Add up and add on margins to all of your steps
and costs to determine your profitable pricing.
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PRODUCTION
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Leverage Resources Always
Small Business Success
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Make use of the internal people and
information resources you're already paying for.
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RESOURCES
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Don't be afraid to pay for the appropriate external experience required to grow your business.
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RESOURCES
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Take full advantage of all the industry information offered by organizations you've joined.
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RESOURCES
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Universal business knowledge is all around
you - ask questions and listen.
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RESOURCES
The Profit Puzzle Solutions for Small Home Based Business Start Up SuccessBy Don Osborne – profitpuzzle.com – (909) 560-1464
Checklist
32 Ways
The Profit Puzzle
Solutions for Small Home Based Business Start Up Success
By Don Osborne – profitpuzzle.com – (909) 560-1464