What makes a business successful? In this episode of coffee with Zee, we go over the five key concepts of a successful business.
Video transcript:
This is Coffee with Zee episode 8, I’m Alfie and I’m here with Zee and we’re going to go over the nuts and bolts of business. So, Zee, over to you!
Excellent. Alfie’s first part of coffee with Zee series, so he’s a bit nervous. So, I’m sure the LinkedIn Family, YouTube family and everybody else will root him on and be very nice to him. So, the question I guess is, what’s the nuts and bolts of business, right? While I’ve got my coffee here, five things we’re going to cover. And, this, if you understand these five things you will be doing well in business, as long as you know how to implement these. Number one. Very important. Does anyone know who you are about and what you do, because if they don’t know you’re not going to do that well in business. Number two – get my numbers right! Number two. Sales. If you don’t know how to convert them into sales you’re not going to do that well, because you’re going to have no money. Number three. Have you got your pricing in place. Are you are you making money on yourselves. I see so many entrepreneurs, they don’t even make money on themselves so how can I have a business, right?
Mm, yeah.
Number four. A little bit of a favorite of mine. How much money do you keep? Are you… are you tax efficient? I know you might think ‘what the hell’ but that is quite important, and if you don’t get the tax bit right you don’t keep all the money. And number five, which is very important, is your cash flow. If you’ve got not enough cash to carry out steps one to four on a regular basis, you’re going to have no money to continue and this, funnily enough, is the biggest problem in business. Alfie, does that explain the five key concepts of business?
Yeah, yeah. No, that sounds good.
Now you’re an entrepreneur now. You’ll be able to deal with this, implement this, run your own business – or come and see someone who knows how to do that!
Yeah.
Do you know anyone?
Yeah I might know one person, yeah. I do have someone in mind.
Excellent Alfie’s the man to go to because he actually knows someone who can help you do those five things! I hope you enjoyed it.
Yeah yeah yeah just DM me and I’ll tell you.
Great coffee with Zee. Thank you for joining us and have a great day.
Thank you!
