James Schramko here and welcome to this week’s business news tips.
Last week we talked about adjusting your merchant rate and some readers came back to me and said they got big savings 0.6%, 1% on what they were paying and they thanked me for that.
This week check your legal terms and conditions.
As your business grows you need to make sure that not only do you have insurance but you also have legal terms and conditions that protect your business. You see after you get past the whole thing about getting money, the other part is keeping some money.
Always see a professional when you’re doing this sort of stuff.
Alright as you build your business, you will have opportunities to speak about it. Whether it’s in a local business chapter whether it is on a platform with an industry specialized body or whether you have your own events. Now here’s a tip, if you’re not speaking all the time like not every weekend, then you may want to create a checklist that you can refer to over and over again. That way if it has been a long time in between speaking, you just pull out the checklist, have a quick scan of it and you’ll remember the basic stuff.
I’m going to give you a few tips now about speaking.
One is make sure you give people something to think about. But not think about too much. Make sure you cover something emotional because your whole goal is to move people from where they are to where you want them to go to. So you will involve some emotion to shift people. And also give people some facts, people who are logical like to get some facts or statistics or data. So there are some tips to kick you off with.
Always make a checklist
Create your own checklist that you can just look to immediately prior to speaking. I use Evernote to store my list.
Here’s something you want to do as a business is get multiple customers. If you have one customer you become single point sensitive. If you lose that customer, all your money goes and that can be very detrimental. That also causes you to be desperate and reactionary and compromised so get multiple customers. If you have a hundred customers and you lose one customer and that’s 1% of your income, then it’s not such a big deal. It’s not a bad day. If you have 3 customers and you lose 1 customer, that’s 33% of your income right there if they were equally split. It could be half your income or more. So get multiple customers and protect yourself from that sort of disaster.
What we say and how we say it can be very important to the results we get.
If you want an example of this, hop on to YouTube and check out some video clips from Darren Brown. He’s a fascinating guy. You’ll see some videos there. He’s actually able to go and buy things just using paper. Not even real money. Now of course he’s doing this for fun and he’s making a film about it but go and check it out. Have a little explore of his persuasion techniques and just see what’s actually possible and only ever use this stuff for good purposes. It actually aids memory retention if you can use stories and metaphors to lock in learnings that it can be used in a good way.
When you’re hiring people, get all the stuff that you need in advanced.
If you’re going to hire someone you’re going to need induction paperwork. You’ll need tax file numbers, social security numbers, bank account details, some legal documentation and job contract. Get it all prepared in advanced and put it in an envelope with the job role of the person you’re going to hire before you even hire them. That way you’ll see more organized and it’s a smoother flow when someone joins your business.
Hey look if you turn up for your first day of the job and the company that just hired has none of this in place, and that has happened to me before, you’re going to think, well who am I working for here, are they jokers or what? So get it all ready in advanced, be professional, start as you wish to continue and you’ll get the right calibre of candidate and they may even turn up on the second day.
My tip for this week is to focus more on less.
So work out on the things that you want to stick with and that you want to focus on and dedicate resource to, the minimum number of things and then focus on them. Focus all your attention just on those few things and you’ll get a big impact.
I hope you’ve enjoyed this SuperFastBusiness news update.
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