Many of us got into business by following prescribed ‘best practices’ or highly-regimented business plans, and though organization and following prearranged or proven advice isn’t always a bad thing – too much of a good thing is no longer a good thing. That’s why I wanted to share these 6 ‘rules’ of business you should break if you want to truly succeed in your business forays.
You Need an MBA
I could go through the list of current-day moguls who never got their MBA, or even any degree, but we’ve all heard that. Instead, I’ll briefly tell you a first-hand account: a few years back I saw a gap in the digital marketing industry, my wife and I provided services that were better than the competition, and we made our small startup into a booming success – all without either of us having an MBA.
So, can an MBA be helpful? Of course, education is important. But is it necessary for business? Not at all. Feel free to break the ‘you need an MBA’ rule without looking back.
Business Plans Are the 1st Step
Though planning and organization are important, it isn’t always necessary for you to have a hard and fast business plan. However, if you’re the type of person who needs everything to be laid out perfectly before you begin (first, let me tell you that business rarely goes that way, so you’re in for a bumpy ride) and you feel you need a business plan – feel free to use this tool that takes a lot of the difficulty out of creating a business plan.
Diversify Your Services
Many people advise that offering more services/products, or diversifying your client base is important, and though there is a time and a place for this, my company did well because we focused on doing just a few things really well.
Diversifying is a great idea if you’re already established and have your few things down really well, but don’t overload thinking you have to reach everyone or do everything if it makes your quality suffer. Better to be an ace at one thing than a jack at a bunch.
Sales Are About Persistence
It is 2019, sales aren’t about badgering your client into finally ‘caving’ and agreeing or buying – inbound marketing techniques abound now, and your customers and clients expect a certain level of restraint and respect from you. Don’t get caught up in the old ideas about sales, because even if they sometimes still work now – they won’t a few years from now and you’ll build a bad reputation for yourself and your brand.
Always Chase the Money
You’ve probably heard the ‘rule’ that you should never give anything for free – this simply isn’t true. Of course, you need to be profitable, but chasing your values are more important than chasing money.
If a client comes to you with a great cause but not the funds, depending on your financial situation, the possibility of pro-bono work might be a great option. Additionally, giving free samples, free audits, etc, can be a great way to make connections with your customer base, just make sure you follow up in a non-pushy ‘sales’ way.
Never Work with Family/Friends
This is a rule I proudly broke with my startup-turned-success, JSL Marketing & Web Design, as I own it with my wife, and we also work with her brother and his wife. Additionally, many of the hires we’ve gotten have been through recommendations from our team – often including their friends or other creative individuals in their social circles.
Of course, this only works if you have great communication and make sure you’re making solid judgment calls at the beginning hiring process to start. But I encourage those families and friends with good boundaries and communicative skills to hire whoever is the best fit, even if that includes family or friends.
If my wife and I hadn’t broken this business rule from the start, we wouldn’t be where we are today!
Are You Looking for Consultation Services to Start Your Business? Contact Me Today!
If you’re looking to start a business or have had one for years but need help growing or progressing, then business consulting might be a great choice. Or, if you need digital services, feel free to talk to my friends (and family) at JSL Marketing & Web Design.
Contact me today to set up a time that works for you.