MONEY MINDED
5 IMPORTANT BUSINESS RULES
Introduction:
* Welcome friends!. In this post you are going to learn about the basic business needs which is known as business rules. Business rules are the necessary things to develop your business.
* Read the post carefully and apply it in your business for developing your business.
Business Rules:
* If you are a businessman or business interested person, you should know the basic needs of the business, which is called as Business Rules.* Business Rules has the ability to change your small business to big business. In world 90% of the successful business run according to 5 business commandments.
* The 5 business commandments are called as "CENTS". The "CENTS" are useful to run a successful business. The 5 "CENTS" are,
☆ CONTROL
☆ ENTRY
☆ NEED
☆ TIME
☆ SCALE
Control:
* The fist commandment is your control on your business* Take the total control of your business with you. Control reduces the problem in running the business.
* Even if you are a job person, start a second income or a side business which gives a control on your financial development.
FOR EXAMPLE:
* Let we consider two farmers, First farmer is working on his own land. But the Second farmer is working on another's land.
* First farmer can work at anytime to increase his revenue. But the second farmer has restrictions to work in limited hours. Here the first farmer has total control on his working.
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| CONTROL YOUR BUSINESS |
Entry:
* The second business commandment is Entry of your business.* Start a business which is very difficult to start it. The other person should find difficulty to start your business.
* Entry difficulty businesses reduces your business competitors. You can be the only businessman in difficulty business.
FOR EXAMPLE:
* The great example of entry difficulty choosing businessman is "ELON MUSK".
* Elon Musk's entry difficulty businesses are SPACEX, TESLA, SOLARCITY etc...
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| ENTRY DIFFICULTY |
Need:
* The Third and Important business commandment is NEED of your business.* Start a business which is a problem solving one. People will always buy the product or service which is very useful to them.
* Most of the start-up businesses fails because of their less needed or less wanted business selection.
FOR EXAMPLE:
* Start a ice cream parlor, where there is a kids play ground, Kids kinder Garden schools etc... .
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| CHOOSE THE NEED |
Time:
* The Fourth business commandment is TIME* If your business always needs your presence then you have not created a business, you have created a big job.
* If your business income is dependent on your time, then you cannot earn more because you have only 24 hours in a day.
* To expand your business, you should hire workers and increase your business production.
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| TIME IS GOLD |
Scale:
* The last business commandment is SCALE production of your business.* If your business is not able to increase the production scale. Even if you get more orders, you can create only some
* Your business must be able to increase the production rate, through which you can able to handle more number of clients.
FOR EXAMPLE:
* If you are an painting artist and if you even get more number of orders, you can create only few number of painting. In this case, you cannot increase your production scale.
* Software companies are best example for production scale increasing as they can easily copy their software programs and sell it to many people.
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| INCREASE PRODUCTION SCALE |
Conclusion:
* Now you have known all the 5 important business rules. Please follow and the business rules in your business.
* Read all the other post of our "MONEY MINDED" site. Through which you can improve your financial and business management.
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