To generate more profits and more wealth in your business, it is necessary that you do many things, they are not magical, they are secrets closely guarded by the great magnates that we see on television. But today we will talk about things you should NOT do, things you do that you should stop doing.
Stop doing the following:
1. Stop hiring incompetent people for your company, the salary you pay to a person who is not suitable is money thrown in the trash. A single week that you keep a poorly trained worker with a bad attitude, without the knowledge and without the capacity to perform the job, is wasted money that eats away at your earnings. I have seen many times (and I made that mistake myself several times) employers keep mediocre workers, hoping they will rise to the level. If they never reach it, take them out, they are a drag.
2. Stop looking for "greener pastures", your business should be your romance, stop distracting yourself with other adventures, stop moving away from your market niche when it has been carefully chosen, stop wasting time on meetings, conversations and investigations into "opportunities" that seem spectacular. You can make money with your business. Others have done it before. Stop investing financial resources in "adventures" that take you away from your center. Focus.
3. Stop getting excited about the growth of your size, the size that your company is taking, the sales that continue to grow, the number of employees that are joining your business. Stop looking in front of third parties because you are now a recognized businessman who has a great company. Stop freaking out because you are now a Don Entrepreneur. Stop being impressed because now you are not going to look for money at the banks, now they come to offer it to you. The only thing that should impress you is the profits of your company, those profits that do become wealth.
4. Stop hiring "professional administrators" full of titles and experience gaps. Perhaps you have heard me say or have read this ungrateful phrase: " on the street there are many titles without professionals, and many professionals without titles ". Of course, technical knowledge is essential, but it is not enough. Stop hiring people without an entrepreneurial spirit; but eager to create a slow and bureaucratic white elephant in your company. Stop making hateful divisions between the "executives" of the company and "the others."
5. Stop thinking that those who look very busy (when you get close) are really "earning" their wages. I tell my clients that I once had an operator in the house doing maintenance work, from a distance it was clear that you enjoyed total relaxation; but when I called him to ask how the work was going he always said: “Ay… ay…. Oh Don Enrique, here very busy, taking out the task. ” Of course he added two or three gasps. Stop hiring people who spend time, who do not know how to manage the freedom you must give them so as not to become their particular "secretary", that is, you must take them to the agenda. Stop hiring people who do not know how to work for results, do not know how to assume the responsibilities of a position.
6. Stop thinking that “spectacular” businesses are those that produce amazing profits in a few months. Stop thinking that with little effort you are going to turn an idea into a business, a business into a company, a company into an empire. Stop thinking that without commitment on your part and your people you will achieve it.
7. Stop reading this article and look for more competent people, a niche in which you can become a true expert, the best in the world. Stop reading this article, write what you think about this topic, leave your queries, close the computer and go out and look for opportunities to generate more sales; but above all more profit. Stop looking at those financial statements with earnings that do not reach the bank account and see what is happening. Where is the lost money staying?
In two weeks I will begin an intensive consulting process for a client, who was a client about 15 years ago. In those days it was a small company, it sold about two hundred thousand dollars a month, perhaps it had less than 20 employees. Today he invoices almost a million dollars a month, he has about two hundred employees, there are two companies and a debt of almost six million dollars.
Thinking about them I wanted to write this article. It is true that they have many things to do to take their company to the next level of growth; But they should also stop doing some of the things that I mentioned in this article.
Okay… reread the article, maybe tomorrow; But above all, think about the great opportunities you now have to generate more wealth with your company.
