Category: Reminder

One work to keep in mind: Research.

There are lot of pieces that makes up a business. If you are not familiar with everything that has to do with your business then others can exploit you. Ex. Low ball offers on material and labor.

Most business fail to grow because they fail to do research. Business evolves and changes often (or even daily), so it is important to keep up-to-date with your market and how it reacts to the season, customers, and your workers.

I know there are influencers and business guru that is all about GRIND, GRIND, GRIND. But your body can only handle so much. Take the time to rest, especially around/during the holidays.

Benefits of resting:

1. Improved Decision-Making: When you take the time to rest, you are removing yourself from the situation. This gives you time to think clearly and see the problem from an outside perspective.
2. Sparking Creativity: Creativity flows better when there is no stress involved. Creativity tends to lead to more productivity in a more fun and productive way.
3. Better Health: It goes without saying, resting not only helps with your health but the health of the business. when you’re at your peak, the business is also at it’s peak performance.
4. Long-term Sustainability: Success is a marathon, not a race. Most business fail within the first 3-5 years. Business that overcome the 5th year are more likely to expand and grow.

These are a few ways that resting can benefit you and your business. Don’t take days off lightly, it can help recharge and improve business decision when you can keep a clear mind.

It happens a lot. Things don’t go as planned.

When this happens, we can prepare for them. It good to have a back up plan. Don’t stress or waste time to deal with the frustration and anger from failed plans. But use that energy to work towards the next step. Sometimes when plans fail, it leads to new ideas, opens new doors.

Speaking from experience, almost 99% of my plans fail and have to go to Plan B, C, or even D. Most of the time, it was caused by a force that is outside of my control. Additionally, you could use this opportunity as a learning experience and note the next step if you come back to the same block.

Of course.

If it does go as planned, celebrate when you can. Even the small victories needs to be recognized. But don’t get too distracted that you made yourself lose track.

I want to bring more business terminology onto this site. One specific term I recently learn is Oligopoly. The is where the market is controlled by a few selected business that sell similar products but the pricing are not depended on each other. Meaning go after your dreams and build a business, learn from others in the game and make it unique. The way you price your product or service should be depended on how much you and your customer values that type of products or service.

Always Keep Improving Yourself and Your Business.

I was trying to post monthly and hopefully develop a habit to post weekly but it seem like I failed to do so. This was suppose to be an easy habit to engrain since it take less than 10 minutes to type up a simple update. This whole project is an outlet of information or database that can be easily access so that I will not have to remember everything, yet I still forget to post a weekly note to help me get organized in my thought and update what going on with this site.

Clouded with all the steps and direction that we all put ourselves in, where do we go next? As entrepreneurs, our path isn’t linear. We chose to take a path that other doesn’t want or don’t see.

Although, the next step doesn’t necessary has to be physical. We can step back and reflect on the skills and knowledge to find ways to use them to our advantage. By doing so, we can celebrate the accomplishment and lay out new plans with the new tools we have acquired on the journey.

Ways to go forward:

1. List out what needs to be done. Or. What do you want to get done?
2. Get the new skills required for the next step. Or. Hire the extra help.
3. Business perspective: As the customer what do they want/need?
4. Accounting perspective: Clear out some liabilities and gain assets.
5. Research extra product or service you can offer.

The next step is more than the actions itself, its a reflection on our entrepreneurship mindset, determination, growth, and commitment to your business goals and vision. Keep moving forward.

Making a list will help you find what you need instead of roaming the store trying to remember what you need in the first place.

A list, just like a grocery list, will help you stay organized and remind you of your daily or required tasks to get to the next stage.

Investing is a broad term, as such, entrepreneurs need to not only invest in their business but in themselves. There are many opportunities that are missed simply because we didn’t learn the proper communication skills or quick decision-making skills to help close on a client. There is much to learn and knowledge is a continuous skill.

I have invested time into doing research on a business and how to start my real estate company. Like any entry-level trainee, we need to learn the ropes from the ones before us to help us understand and operate in the business.

Last week my little sister ask for my option on her resume. I mention to her that she needs to update anytime she receive a certification or qualified on a skill. In the last two days, an old buddy of mine is planning to switch jobs also ask for advice on his resume. With all the help and suggestions that I have given, I have yet to update mine. Resume isn’t something that you can just brush off. It is something we need to update regularly. In addition to that, it proves to us that we have progress and gain lots of experiences. If not, then this should be a wake up call.

Once you get into a habit of being lazy, its hard to get out of that. I have spent a lot of weekend times doing nothing. It is important to relax and recoup, but there are times where we could be working towards new goal with all the time that we have on the weekend.