How One Entrepreneur Found Lasting Success By Focusing on 3 Basic Business Principles

The entrepreneur in this article focused on three key points to make his business more successful. He did this in light of the 2008 recession and being on the verge of bankruptcy. He decided to focus cash flow, or more or less the reality of it. He said be realistic that your plans may take longer than planned. He focused also on expenses. Framing every penny allowed him to have a better understanding of his money and eventual cash flow. Lastly was his roi. He needed to truly understand what his breakeven point was and how it would take to have a true profit.

Key Takeaways:

  • The first focus point was expenses, in that you have to count each penny to ensure you’re on the right direction.
  • The second focus is to examine your cash flow and realize how your expenses tie in.
  • Third is to have realistic expectations of return on income and understand it may take longer than planned.

“From the outside, a successful entrepreneur’s career is often made to look like lightning in a bottle. Hopeful leaders and young professionals with dreams of striking it rich on their own rake through articles and memoirs in the search of a hint of the secret and using it to boost their own dreams.”

Read more: https://www.entrepreneur.com/article/302434

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