Challenges that come with growth.

Each stage of growth comes with its own challenges. A small business with $500,000 in sales trying to get to $5 million has different operational, financial and human-resources challenges than a company with $25 million stretching to hit $100 million.

For tiny companies with a bead on that $5 million-in-sales mark, the first thing to do is chart a financial course.. mind your cash. Unless you socked away a pile from a previous life.

Next step:

Focus your energies. At this stage, nearly every ounce of investment (in cash and time) should go toward perfecting your product and building a solid reputation with customers."The only people you talk to at this stage are customers and potential customers." If you don't plan to bootstrap your business to the next level, you'll also need to find a way to drum up some capital.

Getting From $25 Million To $100 Million.

At this stage, your success depends less on your product and more on execution. Think broadly about what businesses you're in and be willing to cut loose underperforming product lines and reinvest in stronger ones. "That's a big switch from early-stage companies, where it was about laser, single-minded focus."

Career diversification protects you

You can boast a wider portfolio of skills and services. You don't just have one source of revenue, but “multiple streams of income.” If one declines, another can take its place.

And there are more reasons.
During tough periods, companies trim their staff or don’t hire as they normally would. An outside consultant or trainer, a one-time project, a lower-priced service -these can be attractive options. You’re also in an ideal position to promote yourself by speaking at business conferences and other industry events. When people are desperate, they’re eager to hear solutions.

How to calculate your hourly worth.

Here’s the formula : Take the amount of money you earn per year. Then divide that by 50 weeks and then by 40 hours.

For example, growing real estate business.

Making about R800,000 a year. R800,000 divided by 50 weeks equals R16,000 (weekly income). R16,000 divided by 40 hours comes to R400.

"That’s how much your work time is worth," I told him. "So never do anything yourself that you could have done for less than R400 an hour."

Now you do it. Divide your yearly income by 50 weeks. Then divide that by 40 hours.

If the number you come up with is less than R150, it tells me you are not practising a financially valuable skill -
At the same time, make yourself as valuable as you can be at your present job. And start focusing on the really important work that will propel your career - and your income - forward.

Before long, your hourly rate will be double or even triple what it is today.

And your personal time will always be worth even more.

The secret to selling the rights products.

1. Catch their attention.

If you use a letter or e-mail to get to the decision-maker you’re trying to reach, your attention-getter will be your headline. If you intend to contact him in person, it will be the first sentence you say. Whatever method you use, you must have a powerful grabber that will make him want to take action and buy the rights to your product.

2. Show them how to promote your product.

Don’t just write a couple of paragraphs saying that your product is sure to sell like hotcakes. You need to convince the decision-maker that your product can be marketed effectively.

Show him exactly how to do it. Create some promotional literature for the product, including sample ads, Web pages, and/or direct-mail copy. Give him a marketing plan that the company can put into action and quickly start seeing profits pour in.

3. Have the actual product or a prototype in your possession

Well, what they want is what anyone in their position wants: a potential money machine handed to them on a silver platter. If you can provide the full package - the product as well as some good marketing ideas for it - you will get very serious consideration…