As the founder of a start-up, I tend to work in 5th gear all day long. The greatest danger I face is that my day looks like a game of whack-a-mole.
Before I can resolve one problem another has already appeared. And this leaves no time for thinking. The most productive time of my day is when I can sit in silence and think.
By thinking I can envision and plan my day, week and month ahead…and I can avoid some dangerous pitfalls that everyone faces when they start a company.
One of those traps is to stay comfortable with the number ‘1’. Because the most dangerous number in business is the number ‘1’. That’s right…at some point we all start with…
…One marketing pillar
I recently had a discussion with a business owner who was just about to launch his mobile dry cleaning and laundry operations. We discussed how the number ‘one’ is the most dangerous number in business for him and when he pitches to investors he should have answers to the following:
How can you split test pricing in different neighborhoods?
The customer ultimately determines the price, not the competitor nor the business owner.
Where do you have “1” of something? It will show where your business could be at risk.
Set aside time to think every day. It’ll be the most rewarding thing you do.
Whatever stage you’re at in business, you need to be all over the numbers. In posts like this, we aim to offer bite-size food for thought – but in a few hundred words, we can only do so much.
If you’re ready to build your financial muscle, how about a FREE copy of James Vanreusel’s (highly-acclaimed) book for CEOs?
The #1 Key to Creating a Thriving Business takes you through the challenges of growing and scaling your company, from first to last. And you can request your copy here – no hidden fees, no strings.