If you are involved in a startup, you must know how to sell.
And if you are in position of power in a start up project you must create an atmosphere where you have NO support staff. Every one needs to be contributing to the bottom lines some how, tangibly. This has been one of our biggest success reasons at B4U Dubai.
If you want to know what is one shortcut or secret recipe to get client’s attention. Well, sales is done when you know the consumers interacting with the client’s product.
Make sure you know the customer’s customers before you open your mouth in front of him. I know its hard but anything worth having comes at a cost – the cost here is the intensive research which you will do before meeting with client.
When your pitch is about consumers interacting with your clients products, you can sit back and relax the magic to happen in front of you.
I have seen it happening so many times…
I love sales 🙂
Why 9 out of 10 new businesses fail?
Despite Investors consistently pouring investments in Startups , unfortunately there is no reputed Business Training for Investors, founders and employees, teaching hard realities about what getting involved with new businesses is all about.
Investing monies and running businesses are different skills all together.
An investor cannot assume that because he has the monies, he can have better understanding of business and vice-versa.
As per Forbes and Statista, 9 out of 10 businesses fail.
This is because a start-up needs a special mindset and attitude.
Startups are more about resourcefulness than resources.
Its more about that attitude of working till the job gets done not till the clock ticks 5.
“OK, I’m in business. Time to start hiring people.”
I have seen so many companies committing mistake of assuming that ” More People Mean More Business”.
This is wrong planning and often results in hire & fire culture.
Big structures never define success but “right-sized” compact teams with a mix of passion, experience and high energy culture where no one is labeled as ” back office staff” or “liability” is THE key to consistently create magic.
Today, at B4U Dubai, we are a team of 15 from 6 different nationalities in span of 4 years. My journey of 1 till 15 had one clear philosophy, we NEVER label any employee as support staff but ensure each member of team is actively involved in generating revenue in their own way. This is one of the key reasons for us garnering growth in times when most of our competitors are struggling to maintain last year numbers.
The RIGHT time to hire is only when you can really afford – NEVER hire someone and then try to make them affordable.
Once upon a time a loser said “ Money saved is money earned!”
As per a recent study done by Forbes, One of the biggest reasons for start-ups to fail is Cash Flow. More often this happens when founders/managers/top management confuse ” Real Money ” with “Fake Money”.
I classify “Fake Money” as: (a) Sale without collection and (b) Saved Money which is also considered as revenue or “Money Earned” .
My Take # 1 : Money saved is JUST salt earned.
My Take # 2 : Money spent right & Revenue secured in account is your real worth of the company.
This is true definition of ” Real Money ” or Money Earned ” It is never about toplines or middle lines in business . The absolute bottom lines and ” Real Money “is what thrives your business.
My definition of Money Spent Right is; any money spent which generates ” Real Money” for the company is ” Money spent right” . The only thing which can fluctuate/debatable is the ROI expectation – which can be calculated as well to a realistic accuracy
You have launched your dream project and are already putting 14-15 hours a day to make it a success. You are juggling many hats in the start as you are short-staffed and short of funds.
What is one thing which you can avoid to save yourself from more sweat and losses?
You may ask, “That’s simple Zeeshan, no one wants to take wrong decisions – What are wrong decisions?”
My take on this is, any decision which is not taken is the wrong decision.
Wrong decisions can be always corrected, but time gone cannot be reversed.
In new businesses, the ONE thing which you lack is time. Running out time means, running out energy and running out of funds.
So next time, whenever you get stuck, think over it properly m decide and move forward!
Continue reading Avoid this ONE wrong decision in business.
My friends generally ask me how can I consistently keep on working with start up projects without losing enthusiasm.
The reason is that I have understood the mindset of start-ups.
I have understood that corporate mindset is irrelevant in new businesses.
It is more about the process and enjoying the journey.
I have fallen in love with the process and the consistent grind and in the world of new businesses -if you love the process you will OWN the outcome!
In the whole scheme of raising funds and making businesses, unfortunately Startups are forgetting that the core idea of business is not to wait till the next round of funding…
but the idea of launching businesses is to generate monies.
Its as simple as that!
There are high chances of failure if the mindset is not about “each and every strategy led with a thought of generating money for the company”.
Below is a glimpse of my recent talk on ” Scaling Start-ups” at Gloria hotel, where I was invited to address a selected crowd of entrepreneurs and start up founders.