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  • 5 things to note about separate business finance or else there will be a loss

    5 things to note about separate business finance or else there will be a loss

    First of all, if you read this article, you feel something uncomfortable, painful, slightly dull, then perhaps Phuc Tai has touched your painful financial and business scars in the past. As long as you are ready to face and receive, you will surely contemplate valuable lessons as a luggage for the whole business journey in the future. Just remember: doing the wrong business is okay, doing business is always about trying, learning and doing the next thing better. As long as you continue, do not step back, complete every step forward, you are bound to reach your destination, closer and closer to you. And here we come to: 5 things to note about private business finance if you do not want to face a loss. Instead of losing money to learn the lessons, it will be less damage to listen to the lessons learned from others. Let's get started together!

    1. Do not put money into the product too soon

    Most business people also have a product mindset. And because starting with that mindset, they put their time, put their efforts into finding goods, and then poured most of the money into goods. Of course, when you think something important, you put money in it. However, in business, whether to pour money into it is effective or not, whether to sell a lot of goods or not, whether to earn a profit or not, is a completely different story.

    Just like in love, you think that person is your lover, you focus on that person, give your attention, time, money to that person, but whether or not that person reciprocates your feelings. , it is not certain. That's why, many people waste their youth on unworthy people, just like many people put money into goods, but can't sell, cannot become million-dollar entrepreneurs as they secretly hope. wanted and used to shout. You need to calculate and identify with more certain moves. The truth is: what we think is not necessarily true, because if all is true, then we are already rich, so sometimes even many times, it is necessary to admit yourself wrong to have a different result.

    The answer is: To do business, you have to start with a community of customers. Because you see, the problem is not what product you have. More importantly, do you have customers who know you, love you, and trust you to be willing to buy those products? There are people who sell good products, but they stop, you hate, you don't want to buy. However there are people, you love and trust, who sell things that are not the perfect thing, but you are still willing to take your wallet for pleasure. Once liked, there is no reason. Well, don't focus on the product you have, but look to see how many people are willing to open wallets and withdraw money from your purchases.

    We do business need to accept that the product is infinitely good, the products and items are on par with the goods you sell, much more spectacular than the ones you sell. Especially the sellers are plentiful, from the beginning to wait until the end of the market, from the beginning of the street to the end of the street, from the beginning of facebook to the end of facebook. So the product play is the same. It is very difficult to clap your chest to confirm that the product you sell is unique, the best, or the most spectacular. Although there are countless types of cryptocurrencies, even insurance companies are full of many, simple items such as bedding, shampoo, hair conditioner, ... all over the market.

    While importing a product, joining as a sales or distribution agent for a company is not difficult. Customers who don't buy from one company buy from another company. If they don't buy from one person, they buy from another. The difficult thing here is: How many people know you, are willing to buy from you, constantly come back to buy for you and introduce more new customers for you. In other words, how to get your Community of customers.

    Many people sometimes do not know what to do, so they make a mess, they just create a store, they can only import products and then they can sell them whatever. Honestly, there is no spring there. Many people put their money into creating a product or importing a product line, spending too much money on it and finally putting it on, there are no customers to sell, pretending from morning to night, waiting for an inbox. from customers asking for purchase.

    Starting a new business and pouring money into a product is an extremely stupid act. You have to build your Community first. Then, you post, ask the customer to test, to see if the number of people interested in that item is large. If many, you try to sell to see the number of buyers, and the number of people transferring money to buy you? Does anyone buy it? Does anyone transfer money? After that, if you feel good, there are many people interested, have real money for real paddy, then you will deploy to create more products, or import more products to sell. Anyone doing business, must also have a step Test this market. If not: Toang!

    Many people who import goods are given a trial, honey, if you import this amount, you will get an additional discount of 5%, 10%, then just because the 5%, 10% of the goods take a lot of goods, finally they can sell where. Done then sit back and post status: Everything depends on the conditions. No no no. Business finance is to be calculated, every step must be sure, and pouring money into products first is always too risky and contains many mistakes. Build a community of customers first, then, based on the customer community to test, get the numbers: the number of people interested in that item, the number of people transferring money in each product test. How much, to take that as a basis to see the number of products created or the next entry. Putting money too soon into products, is never a smart move.

    2. Grease it fry it

    The important thing when doing business is getting to know how to sell first. Instead of focusing on setting-up an epic site, then sit there waiting for customers, worrying about not selling. Sales people must then be prepared to deal with the hardest task of making the first sale. Must sell goods, then take the profit to sell to set - up basis. Want to expand what, want to do, determine what fat it fry it.

    Once I consulted for a sister, she said that she was oriented to become an expert, and she intended to take an intensive course of 40 million to equip her knowledge. I advise her: Just slowly, have not gone to the advanced courses yet. Just share what you already have, just share your knowledge, shoot videos, build a brand, see if anyone is interested in watching, reading what you share. If yes, try product design, for example 300 thousand one hour consultation, see if anyone sign up? If yes, please push up and when the interest is 40 million, then take that 40 million to go to specialized school. The important thing is not only that you have 40 million to go to school, but the important thing is that the process will help you test whether you are suitable for that path and whether the customers are interested in you when you share the topic. that or not.

    Doing business without any positive test, frying it step by step, is extremely dangerous. Many of the stores set up their grandeur end up with no customers. You may see others doing it successfully, but not sure if you do it yourself. Therefore, putting a lot of money into investing in something that is not sure is effective or not is very dangerous. Let the business itself prove it can generate money, prove that it's worth the effort, the effort, the money in it.

    After all, the problem of investing money, the business problem is always a series of test steps that focus on what works. See which products sell, the communication, which communication topics are effective, attract more customers, write articles, see which articles attract more readers, then spend money on advertising, ... All have to pay in cash, this test must be done. Do not see other people complaining that this product is delicious, then immediately take the goods. Take the picture of that product, post it to see if someone remits a purchase, then enter.

    3. Financial calculations for business systems cloning step

    There is a question that I have been thinking since I was 20 when I read a business book, kept it, kept wondering that until recently I really understood, it has a lot to do with designing business finance: In doing business, you have to think about an exit strategy before you start. And yes, business is not about to sink in, but to think about a strategy to get out. Building a business system is only the first step. After building a business system, you have to get out of that business system, and replicate it into the next business system. Then it will be extremely easy, just change the product only. And the successful building strategy you already have, just duplicate the formula, and that's it.

    The business person's task is not to build a successful business system with product lines in that field, but to build up a multitude of business systems, generating many sources of income. In order to do that, extreme attention must be paid to the business finance planning step of this first business system.

    The first is that the cost must be extremely neat, sharp, like slices of a diamond. Don't be as rough as a rock, it's time to have your money right. My example for you moneycoach.vn trading system. The whole cost per month is only 650,000 VND only. Only 650,000 VND ladies and gentlemen. A lean, sharp business system design. Only then will I continue to clone 5 or 10 business systems. 10 business systems like moneycoach.vn, the total cost is only 6.5 million, equal to the monthly rent only. Very few, isn't it. 100 business systems is 65 million, equal to the cost of renting space for a business system out there.

    If this first business system, but the financial costs to maintain monthly are too great. Then you will dive into it. Haven't paid bills for the previous month, and continue to worry about this month's bill. All day headaches about the cost of raising a business system, no different from being hired. And worse, with the huge cost of building up a business system, it will be difficult to replicate much, but depending on a business system, a source of income is extremely unstable. . Therefore, teaching children from a young age, cutting business costs right from the first business system must be compact, as compact as possible for high efficiency. It's so gentle to soar, soar to replicate in many other business systems.

    4. Money from personal abilities is more effective than money borrowed

    Big corporate finance is different, it's a whole group of people, each with a strength. As for your own business finance, success or failure depends on your only ability, because no matter what your employees do, it is up to you. Many bosses and employees are right but keep their own status. There is a saying, develop yourself before you grow your business. Business is successful not by money, but by the ability to use it. So if the business money is all borrowed money, with weak capacity, it is impossible to use it effectively, having to take the money away.

    So, if you want to have a big business, you want to use big capital, the best capital is that you make. When you make that large amount of capital, your capacity will also increase, then you will use this capital more efficiently. For a capable person to earn 10 million, going to work with a capital of 200 million will definitely break. Do you agree?

    With 100 million for example, borrowing is easy, borrowing relatives, friends, all that is done. However, to earn 100 million, you must increase your capacity to high. And it is this process of making 100 million by yourself, you are better, you are smarter, your ability to make money is higher, and it is those things that are the key factor to help you succeed in business.

    5. Pay attention to the cost of continuing to feed the system

    This will be revealed further at the Business Asset Construction Coach Package!

    And if you feel that the above sharing from Phuc Finance is valuable, do not hesitate to invite Phuc Tai to an exchange cafe below. See you in the next sharing.

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