ADVICE for ALL Business Owners!

REAL-WORLD business advice that will help you to grow your business. In this video, I share with you some of the business tips that I wish I had known when I started my first business.

Many small business owners are so focused on generating business for their new business that they forget to look at the type of business they are actually building.

My best business advice for anyone thinking about starting a business or trying to find out how to scale your business is listed below:

1) Recurring Revenue / Repeat Income Streams - Focus on building recurring income streams for your business, if you can develop regular income (weekly, monthly or annual) it will provide a solid financial core to your business so that you can invest in expansion and growth in the secure knowledge that money isn't going to suddenly dry up.

2) Diversification - By building multiple income streams within a single business, or multiple businesses with multiple income streams, you will be well-positioned to manage the ups and downs of running your own business. You should avoid building a business that relies on a single income stream.

3) It's OK To Say No - Not all business opportunities are equal, sometimes it is better to turn away work or a client if they are not a good fit for you or your business.

If you are a business owner and have any tips for growing a business I would love to hear from you in the comments!

Видео ADVICE for ALL Business Owners! канала Honest Money