10 Tips for Business Success

Dan Martin reports from the Business Startup show in London and highlights the presentation given by Rachel Elnaugh (a well-known UK entreprenuer). Here are her top 10 tips - suitable for just about any business I think - not only startups.

1. Is your business worth saving? If it's simply not working, move on.

2. Don't let the doom and gloom get to you. There are thousands of businesses doing brilliantly well in the current climate.

3. Why aren't they buying? Build in feedback loops about why customers don't buy. And remember, price cutting may not be the answer.

4. Is your marketing working hard enough? Keep a track of how your customers find you. If it's referrals, reward the referrers!

5. Banks aren't the only source of finance. Think who has interest in your business: key customers, key suppliers, joint ventures etc.

6. Money isn't the only form of wealth. Bartering, for example, is a powerful way to accelerate your business.

7. Spend time every day planning. If you're on output all the time, you won't get as far as if you step back and think about where you're going with your business.

8. Get help if things are going wrong.

9. Don't let the fear get to you. Everything you think about you get more of so think positive!

10. If you do 10 things and 9 go wrong, focus on the one that worked!

For more information and links visit the article here.