Son: I want to become rich, can you teach me business so I can become rich?
Of course but remember business isn’t about getting rich quick; it’s about creating value. Let me teach you seven golden rules
Rule 1: Solve a problem; don’t just sell products.
People don’t buy products; they buy solutions to their problems.
So, I should first understand what people need?
Exactly.
The bigger the problem you solve, the bigger your business can become
- Rule 2: Earn trust before you earn money.
One honest customer can bring you ten more.
One dishonest act can drive away hundreds
Trust is more valuable than profit?
Very true. What’s the third rule?
- Rule 3 control your expenses, It’s not how much you earn but how much you keep and invest wisely.
So spending carelessly can destroy a business? Faster than most people realise.
What’s rule No 4?
- Rule 4: Never stop learning. Markets change. Technology changes, customers change.
If you stop learning your business stops growing.
Successful people are lifelong learners
Exactly.
Rule 5: Be patient and consistent .
Great businesses are built over the years not overnight
So I shouldn’t give up because of slow results.
That’s right.
Rule 6: Build Relationships Not Just Sales:
Customers remember how you treat them long after they forget the price
Happy customers become free advertisers
Rule 7: Reinvest in your business
Don’t spend all your profits on luxury; invest in better products, better skills and better marketing.
So money should grow the business before it grows my lifestyle?
Exactly. Remember these 7 rules and you will build something that lasts.
– Daily English dose
