Priorities for Business Owners

by XDude
4 replies
Hello!

I'm working on making the shift from "thinking like an employee" (which I absolutely rock at) to "thinking like a business owner" (which I definitely need help with).

As such, I recently put together a list to help me prioritize the various things I need to do to run my business.

Here's what I came up with, in priority order:

1) Sending invoices, getting paid
2) Following up with prospects
3) Generating new business/promoting/advertising
4) Following up with staff delegations
5) Writing an ebook/guide (for eventually selling)
6) Developing new innovative services
7) Learning/experimenting with new technologies.

Is there anything I've overlooked, or do my priorities need some shifting?

Thanks.
#business #owners #priorities
  • Profile picture of the author bobandnanci
    I think you need to look at where you have invoicing and getting paid. As an offline and online entrepreneur with 25 years of experience, I will tell you that if you don't put your customers and their needs first you are never going to need to do the invoicing part because you won't have customers.
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  • Profile picture of the author Odahh
    1) adding or creating value for customers who will pay
    2) making a profit from the value you add.

    as an employee you think in term of living off wages from the job you have now while building a resume to get the next job .

    the problem you may have now is that you may be thinking old style bricks and morter ..rather than the multiple different businesses you can do today with the tech available and because there is an ever growing comunity of entrepreneurs around the world .

    so.. here is the list

    1)how can you add value to something that has demand but not enough supply ,
    2) can you do it 12 hours a day 5-6 days a week.
    3) can you make a profit off of it to live on after taxes once you take it out of the business as wages .
    4) how much you need to make each month or over the year .

    now personally from what i have recently learned in the last year .. that you can wear all of the three big hat in business if you are small..

    the three big hats are
    !) making it
    2) selling it
    3) tracking the money

    but past a point no one is able to wear all hats

    so figure out which business function you excel at an build a team for the other two functions .


    hmm i will have to rewrite this sometime
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  • Profile picture of the author Odahh
    oh yeah .. and we are in the experience economy .. at this point .

    no matter what you do there will be some place for your customers to leave a review ..know those places ..
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  • Profile picture of the author XDude
    With a properly-automated business, I wouldn't have to send invoices, I'd simply start my day by seeing how much money I made overnight.
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