The SMC Corp. system is in a way, like getting a franchise. Because there is a ready system to work with, you may be tempted to let the business run its own course. This is one of the biggest mistakes business starters often make. Like any business, you have to establish and play with a system that works for you too, incorporating SMC's system along with it.
Set a series of Regular Short-term Goals
One of the advices given by SMC Corp.'s online business school is this: Set up attainable short-term goals. Attainable is relative to the person who's using it. For some, one retail customer a week is attainable. For others, 5 customers a week are attainable as well. It doesn't matter what the quantity of the goal is, the important thing is to come out with a series of regular and measurable goals. That way you get to feel like you're experiencing a constant high from the win.
Learn to celebrate these milestones as well. A positive attitude goes a long way when it comes to sales and selling. They can actually rub off on customers. If you feel good about the products you are selling then customers will also be happy to buy from you.
Work with the Numbers, not against it
Setting up a budget for your business is a difficult process. There are plenty of hidden costs which have to be carefully incorporated in those numbers and a lot of visible expenses as well. But more importantly, numbers give you a realistic notion of what you will achieve for the first six months or even for the year.
A realistic goal is one which comes out after most of the expenses have been plotted. Be careful that you don't scrimp too much on the necessities just to attain your financial goal. For example, if you've seen a pattern that your phone bill still reaches $150 after 4 months and your budget for it is $100, then by all means, change it. This is what's meant by working with the numbers.
Compensate in some other areas
If you really cannot reach the expected revenues, then find some areas where you can cut off. In the same light, maybe big expenses like revamping your website or getting a new set of catalogues midyear is not the best idea. Although SMC coaches might suggest that you do so otherwise, you are the best judge for your business.
Put in some saving.
While it is good to invest on fast growth especially on a business that grows as fast as SMC does, it would also be wise to leave some money behind to serve as cushion. Like any business, diligence is an important factor. But there are also market trends to consider. There are some months which have low revenues and some with high, so to compensate for the low months, make sure you set up some money aside.
Set a series of Regular Short-term Goals
One of the advices given by SMC Corp.'s online business school is this: Set up attainable short-term goals. Attainable is relative to the person who's using it. For some, one retail customer a week is attainable. For others, 5 customers a week are attainable as well. It doesn't matter what the quantity of the goal is, the important thing is to come out with a series of regular and measurable goals. That way you get to feel like you're experiencing a constant high from the win.
Learn to celebrate these milestones as well. A positive attitude goes a long way when it comes to sales and selling. They can actually rub off on customers. If you feel good about the products you are selling then customers will also be happy to buy from you.
Work with the Numbers, not against it
Setting up a budget for your business is a difficult process. There are plenty of hidden costs which have to be carefully incorporated in those numbers and a lot of visible expenses as well. But more importantly, numbers give you a realistic notion of what you will achieve for the first six months or even for the year.
A realistic goal is one which comes out after most of the expenses have been plotted. Be careful that you don't scrimp too much on the necessities just to attain your financial goal. For example, if you've seen a pattern that your phone bill still reaches $150 after 4 months and your budget for it is $100, then by all means, change it. This is what's meant by working with the numbers.
Compensate in some other areas
If you really cannot reach the expected revenues, then find some areas where you can cut off. In the same light, maybe big expenses like revamping your website or getting a new set of catalogues midyear is not the best idea. Although SMC coaches might suggest that you do so otherwise, you are the best judge for your business.
Put in some saving.
While it is good to invest on fast growth especially on a business that grows as fast as SMC does, it would also be wise to leave some money behind to serve as cushion. Like any business, diligence is an important factor. But there are also market trends to consider. There are some months which have low revenues and some with high, so to compensate for the low months, make sure you set up some money aside.
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