6 BEST BUSINESS ADVICE FROM MY BOSS IN 2021

Are you looking for good business advice? Look no more because this post has advice for start up businesses and for already existing businesses. So, make sure you read till the end.

When I started working with my current boss, he told me that I will learn a lot of things from him, things that will last forever and help me in every aspect of my life. All I needed to do was to keep my ears to the ground and know when to take in the lesson because he won’t always be pin pointing the lesson and wisdom for me.

From that day onwards, he started teaching me things from every incident and every encounter we have with the customers. From the lessons he has taught me about every aspect of life, I will be sharing some of the business advice. From this post, you will learn the 6 best business advice from my boss.

So, the 6 best business advice from my boss in 2021 are:

1. HAVE A PLAN

In every business you do, make sure you have a weekly, monthly and a yearly plan on how the business will be run. What you will buy, how much budget you can make etc. The plan should be a bit flexible but not too flexible to avoid destroying your business. Having a plan will help you know your next step and where your business is headed. It will help make things easier for you. And it will help keep you on track, so that you will be able to achieve your goals. This type of plan is a bit different from the start up business plan.

With this plan, your business will grow and be on track. When making this plan, you should make up your mind and stick to it to have a good result. Because, when you make this plans and not stick to it, it’s just tantamount to wasting your time.

2. HONESTY

According to my boss, “Honesty is an important ingredient in every business”. As a business man or woman, you need to be transparent, you need to be honest in your dealings with your customers and everyone you come across with in your business. Be honest even to your rank and file workers. You should literally just be an honest person.

Honesty builds loyalty and trust in customers and prospects. You never know which action, event or incident can lead you to meeting your biggest client or your biggest connection that can lift your business higher. Honesty can propel your company to long-term success.

A key method for building trust is through honesty. Once you have your target audience’s trust and loyalty, you will be able to sell any product you have and make good money, and your business will grow without you putting much effort again, because you already have your customers trust. When you gain that trust and loyalty, do not change, stick to being honest.

3. TOO MUCH PROFIT

When you focus on making too much profit from your business, you end up killing your business. The main focus shouldn’t be on how much profit you will make from your sales, it should rather be from the turnovers. How can you make more turnover should be the question you ask yourself, instead of how can I make more profit. This doesn’t mean that you shouldn’t strategize a means of making profit but you should be more concerned on how to make more turnover in your business; especially when starting your business.

4. SAVINGS

You should probably know by now that savings helps every business and even those who are working a 9-5 jobs. In business, you need to differentiate between main capital and profit and save some percentage of your profit every day. Saving 10% (or more) of your business profit every day, can accumulate more money in a year; when you do your annual review, you will notice the improvement. Savings can help grow your business and help you not to go into bankrupt, because when you are saving your profit, you won’t have any reason to take money from your capital.

5. CONSISTENCY

Consistency is the key to success in every aspect of life, business inclusive. Consistency is repetition of action. For instance, when you start a business, make sure you have a steady time that you open your business, so that your customer can be able to reach you whenever they come at that time. Your product should always be available. Consistency keeps customers, because they are aware that at this time when I want this product, I will definitely get it from this businessman or businesswoman. In building a successful business, you will need to be consistent while working with your customers, keeping up with your brand and being efficient.

6. PATIENCE

There is profit in every business you want to start but the beginning is always tough that is why, you will need a lot of patience to be able to succeed in your business.  It may be a cliché but there is truth in “Good things comes to those who wait” and “All good things take time”. For you to have a successful business, you will need to have patience as a virtue, because at some point you will want to quit, you will feel bad. There will be bad and good days. You will need to have patience to be able to tolerate either one that comes your way.

CONCLUSION

After teaching or giving the above advice, my boss looked at me and said “make sure I am not wasting my time in teaching you all these valuable things”. It is of no use listening or reading what you won’t practice. Same thing I am telling you, that is reading this right now,  Make sure you heed all these advice and not just read for reading sake. 

I will draw my curtain here, hoping that this post will impact or has impacted something in your life. There are other tips and steps to being successful in business but these 6 advice from my boss, will definitely help your already existing business or still in progress business to grow and be successful.

Thanks for reading!

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