Ok, so you’ve quit your job and started up your own business.  

You’ve got passion, you’ve got drive and you have a great concept 
that you think people will love.

But you say to yourself  “Hang on a minute, there’s got to be 
more to it than that”.

Well, you are right...and the scary thing is that if you don’t 
learn the ropes fast, there is a high probability of failure.

Depending on which statistics you look at, it has been said that 
within the first 5 years, 4 out of 5 new businesses go out of 
business.....and within 10 years, only 1 in 10 businesses will 
survive.  

If you were a betting person, you probably wouldn’t like those 
odds.  And yet every day, many people lay it all on the line and 
enter the business world with the hope of fulfilling their 
dream...a dream of freedom, lifestyle and prosperity.

So what can you do to move the odds more in your favour and 
improve your chances of success?  

There are a wide range of strategies and processes for businesses 
to address and there are a thousand books around to tell you 
exactly how to do it.  The problem is, where do you start?  

To help simplify the process, I have made a list of 10 steps that 
as a minimum, every business owner must follow.  

1. Business Plan.  A business plan is critical to achieving 
   consistent growth in any business.  The benefits of a 
   business plan are realised immediately through the process 
   of just thinking clearly about your business for an extended 
   period of time, and through illuminating the areas of your 
   business that need fixing.

2. Customer Database.  At the end of the day, your customers are 
   the most valuable asset you have in your business.  You 
   should be taking every opportunity to collect the names and 
   contact details of your customers and communicating with 
   them on a regular basis.

3. Systems.  Systems are essential for ensuring that you provide 
   a consistent level of service to your customers and so that 
   you understand the financial performance of your business.  
   They will also enable the business to run without you being 
   there every minute of the day.

4. Staff Incentives.  You’ve probably heard the expression “If 
   you pay peanuts you get monkeys”.  That expression directly 
   translates into bad people equal a bad company.  To attract 
   great people, progressive companies are keenly aware that 
   they need to foster personal responsibility and provide 
   direct reward for measurable results.

5. Staff meetings.  Meetings are an opportunity to inspire your 
   people and thereby your business.  They also give your people 
   a sense of belonging through the process of sharing 
   information.

6. Marketing.  Marketing is not just about getting more 
   customers, it’s also about retaining the customers you have, 
   generating ongoing sales from existing customers, increasing 
   your profit through value adding, creating a sense of loyalty 
   within your team and creating an image of your business in 
   the minds of the consumer.  In fact marketing is the most 
   important of all success strategies in your business, because 
   if you can’t find a buyer for your product or service, nothing 
   else you do will matter!

7. Branding.  Branding is about creating and communicating a set 
   of values to the consumer of your product or service.  Your 
   aim should be to stamp your logo onto the brains of your 
   customers every time they are in the process of buying your 
   product or service.

8. Business Image.  First impressions count for a lot.  
   Addressing your business image is all about paying attention 
   to the little things that will exceed your customers 
   expectations.

9. Guarantee.  How does a customer truly believe they are going 
   to receive value from doing business with you?  They will 
   only know this if you are prepared to take more risk in the 
   transaction than they are...and this promise is delivered 
   through your guarantee.

10. Customer care.  Every business should have a follow up 
   system that extends sincere thanks to every new customer and 
   for their ongoing patronage.  When was the last time you 
   received a “thankyou” from someone that you did business 
   with?  Probably never...so how do you think your customers 
   will react when they receive a thankyou from you?


If you take action in each of these 10 areas, you will not only 
be 2 steps in front of your competition, but you may very well be 
within touching distance of living your dream.

So go ahead, don’t wait a moment longer...take action today 
because it is only massive action that will bring you massive 
results! 

Stephen James specialises in teaching small business owners 
powerful sales and marketing systems that unlock large amounts 
of untapped cash within their business for low or zero cost.  
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