Here are disciplines you need to inculcate as an entrepreneur while aiming for a boost in your business and financial intelligence.
Ten (10) business disciplines every entrepreneur needs to follow:
- Discipline One; Never Allow Your Business To Go Broke: You can be broke, but don’t allow your business to go broke.
- Discipline Two; Do Not Hire Who You Can’t Fire: In business, don’t hire who you can’t fire. Most times, Involving family members in a business is risky.
- Discipline Three; Never Go Digital Before Your Analogue Business: Don’t give to yourself, what you have not given your business. Don’t go Digital while your business, is still analogue.
- Discipline Four; Do Take Care Of Your Business: Take care of your business and your business, will in turn take care of you.
- Discipline Five; Invest When You Are Low On Cash: When you are low on cash, do not give, invest. Giving is an emotional gesture with no guarantee of a return. But an investment offers a possibility of a return on your investment. It is financial intelligence to know this.
- Discipline Six: In Business, you need to pay yourself a salary/wage. This could be daily, weekly or monthly.
- Discipline Seven: Do not present your products or SERVICES as cheap. Present them as AFFORDABLE.
- Discipline Eight: If you are a job seeker learn the difference between a company that wants to employ and the one that wants to recruit. Learn the difference and prepare accordingly.
- Discipline Nine: Everyone in your family must pay for the product or service you offer in business. It shouldn’t be free for them.
- Discipline Ten: Last but not least. The only way to start is to Start! Remember that nothing big starts big.