Live with Mike Maitland of TEFL Heaven.
Mike shares with us how without startup capital he started a business that is growing rapidly. By finding a niche, and filling that niche. As a result he is able to support the demand within his market.
A couple value bombs from our interview.
– In the beginning focus on sales and satisfying your customers. That is how you build a great brand.
– As you grow your business be sure to start taking off your hats and sharing the responsibility with your team.
– Remember to work on your business, not just in it. As a business owner you need to delegate to make sure you can think strategically about your business.
– Never forget how important sales is, if you aren’t selling within your business you aren’t getting the essential cash flows your business needs to survive.
– the 80/20 rule is a rule for a reason. Don’t spend 80% of your time on 20% of your revenue streams.
– If you are spending 80% of your time on business development and 20% on sales you have it backward.
– Over time your business model will change, and that is ok. Be ready to pivot to best support your business and your market.
– There may be a time for cash infusion (Equity/loan) be ready for it, understand the cost/benefit, but don’t hold yourself back from growth.
Thank you Mike, I had a lot of fun.
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