In an article by Mark Morgan Ford in Early to Rise he writes about one of his clients who is a constant articulator of powerful, small business marketing ideas.
Discussing the difficulty of starting and growing new businesses he offers a synopsis of their “Four Ps” s to make these businesses work.
After much thought Mark Morgan Ford realised that these 4 P’s weren't quite complete.
Now the fun part...
Take a few minutes to use the 8 Ps to analyse a business — to think deeply about what works and what doesn't. You can use your own business (if you have one) or the business you work for or the dream business you would like to build.
Start doing this business analysis by clicking on this link.
By turning those Bs into Cs into As - turning your fledgling business into a thriving one - doesn't require a huge capital investment. It simply requires a few smart and effective ideas
In this age of change and uncertainty it is important to develop a second stream of income. Allocate learning time every week. Build a simple business plan. Make at least one new influencer contact every month - and use those influencers to help you launch your action plan.
Thanks to the internet, there is virtually nothing you like to do that can't be turned into a profitable venture. There are dozens if not hundreds of small businesses you could start this year.
Avoid getting into something you don't understand.
No matter what type of side hustle you decide to start, have a specific financial target and plan to reach that target by figuring out what you have to accomplish every month to get there. Then break those monthly targets down to weekly milestones.
There's no reason to quit your job and risk your life savings. Start slowly, from your home, investing only modest sums, working weekends or at night, and build your small business idea until you can figure out the best products and how to sell them.
When that's done—and that should take about a year (maybe less)—you'll be ready to hop onto that 25% ROI (return on investment) train... potentially doubling your money every three years.
Passionate about helping small and medium size businesses achieve success - reducing the number of SMB's that fail. Helping SMB owners find their path to financial and personal freedom. Every day a learner and excited by all the opportunities available today.