Why a Drug Dealer is a Better Entrentrepreneur
Posted by Pierre de la Fortune on October 09, 2015 @ 12:01 a.m.
Written by Brad Birdsall & Matt Gaidica
1. People get addicted to their product.
Business 101, deliver a great product that people can not be without. No matter if you have cheapest product, or the most dead effective service, if your client wakes up and needs something from you, you will always be making money and supporting your business. People talk a lot about “niches”, and they are necessary, but its not so easy to have something no one else does.. so look for it where other people are not. Prime Studios compliments websites with in-house digital photography, we deliver a great integration of those two products, and that makes us go-to people for a lot of digital-based marketing.
2. They are impatient with formalities and structure.
For the next person that stops you from working and tells you that you should write a 20-page business plan, please kick them in the shin, or at least blatantly ignore them. Plans are important for projects, for long-term business efforts, and for a lot of things, but the one thing that is more important than planning every aspect of your business is actually working on it.
3. Know how to outsource their work.
We are always impressed seeing the owner of a big business get their hands dirty, but successful big-wigs know that they cant be peddling their product day-in and day-out. Outsourcing might not even mean hiring people, think about how much time you could save by investing in a good invoicing system like Freshbooks, or project management system like Basecamp. Maximize your efficiency, and focus on what your good at, not managing it!
4. They reinvest their profits.
Put your money to work; the US economies average inflation rate is 3%, and your bank account is definitely not matching that, so until you invest you will just watch your hard earned dollar turn into something less. Put that money into making your day more efficient, making your job easier with less distractions, or if your product-based, turn it over into R&D money or scale-up the next batch of products.
5. Adaption to different marketplaces.
Whether your product is a bust, or a service you offer has become stagnant, there is no time to be sour about it, you have to get back on your feet and figure out where you went wrong and how to fix it. In 2008 there were nearly 150K mobile websites out there, in 2009 there were more than 1M, that might just be a calling that web designers need to think about mobile devices too. Trying to move to fast can lead to underdeveloped services, so take a breathe, and then take the plunge into the future of your business.
For more info please visit: http://blog.builtbyprime.com/business/why-a-drug-dealer-is-a-better-entrepreneur-than-you
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