Young Professionals Weigh In: Important tools for business
Ryan Summerlin November 1, 2013
How does one communicate how to run a business, or how to market a business? As a business owner at JT Media & Film, I have come to learn many successful tips for running a media business, but what if what works for me does not work for others? I decided to make a simple list of what I feel are most important tools in my business arsenal. Here are all of my secrets.
1. Vision, goals and tactics. No business can survive without clear and concise strategies.
2. Get the right people on the bus. If you hire the right people to implement your strategy, and treat them well. The rest is easy.
3. Think with ethics first and profits second. No amount of money is worth tarnishing your reputation, your business’s reputation or your employee’s reputation. This should be obvious, but I feel it is the most overlooked aspect of business.
4. Look in the mirror before looking out the window. Never hand out blame before giving yourself a fat dish of it too. Too many times I have seen managers blame employees for their own mistakes.
5. Never stop learning. I decided to go to school a full year after starting my business, and it was the best decision I have ever made in my life. Once you stop learning, you stop growing. Sierra Nevada College has a great business program.
6. Find a mentor, or two, or three. Chances are there are plenty of successful business owners in your industry who are more than willing to share their secrets with you. All you have to do is ask.
7. Love your customers. Remember who pays your bills.
8. Be proud of your product or service. If you feel bad charging clients your rate, then you are not confident in your product or service. Talent costs money.
9. Write a business plan. It is amazing to see the number of businesses that start without a full business plan. There are plenty of templates to use on the Internet. Write, then revise and revise again. A plan is critical to securing investment from Angels and Venture Capitalists. Your mentors can help with this process.
10. Be proactive, not reactive. Apple did not become Apple by reacting to current markets. Instead, they invented new markets. Proactivity has a direct correlation to innovation.
11. Develop your harvest strategy. It is important that you have a clear exit strategy for yourself, or for your business.
12. Enjoy yourself. Make time for your family and your life. It is just money.
JT Chevallier is the owner of JT Media & Film and a member of Tahoe Regional Young Professionals.