5 Truths You Need to Know About Modern Business


If your job is to sell people something, then there are certain truths you must follow every day. You can’t compromise on these truths because if you do, you’ll compromise the value proposition being made to the customer. Success in modern business comes when you consistently hit these key points.

1. You Must Know Your Numbers.

If you sell luggage, then you should know if a certain bag qualifies as a carry-on. If you sell suits, you need to know the exact measurements of the person being fitted. If you sell skateboards, you need to know how each particular model can be used. Without specifics, you’re going to have people leave immediately.

2. You Must Control Your Schedule.

The world offers us many distractions today. Family, friends, Facebook… even your email can become a distraction. When you’re able to stay in control of time, then you can meet obligations and establish a positive first impression consistently.

3. You Must Stop Being Busy.

You have a limited supply of energy every day. Use it wisely. Working smarter instead of harder sounds a bit cliché, but it’s also good advice. If you’re always in a hurry, then you’re creating a risk of delivering sloppy results. Don’t fall for the trap that being busy means you’re being productive. You can expend a lot of energy being busy and not accomplish anything.

4. You Must Stop Being An Island.

The demands of modern business mean it is impossible to accomplish everything on your own. Even freelancers today have virtual assistants helping them, a spouse, or an aide who can get specific tasks done for them. Surround yourself with trusted associates and you’ll create a strong business opportunity.

5. You Must Track Every Penny.

How much money is in your bank account right now? Most people can guess within a couple of hundred dollars, but do you know the exact amount? Almost everyone charges fees today. If just one business charges a $5 monthly fee, that’s $60 out of your pocket. Now multiply that by 200 suppliers charging the same fee and $5 per month doesn’t seem like a small amount any more. Track every penny, save as much as you can, and you’ll give your business a stronger foundation.

Only 5 out of the 100 business which start today will still be in business 5 years from now. Knowing these truths and then following them is an easy way to lower your risks of going out of business.