Tips to Start and Succeed in Business

Posted by admin on June 29, 2009 under Tips Tricks | Be the First to Comment

Spotting A Good Rule Of Thumb

The usefulness of a rule of thumb is inversely proportional to its accuracy.

-- A.R. Wadum

Estimating The Solvency Of Customers

Every consultant and small business person underestimates the client’s ability to pay.

-- Steven Kropper

Buying Equipment

Don’t buy a new piece of equipment for your business unless it can pay for itself in three months.

-- Kevin Kelly

Selling A Business

The sale price of a small business is between seven and ten times the average profit of the last three years.

-- Bill Chellberg

Making Your Ideas Clear

A clear idea is one that fits on the back of a business card.

-- Morris Cooper

Getting Work Done

People do best when they’re working at 80 percent of their capacity. At 50 percent, they get bored. At 100 percent, stress gets them.

-- Anonymous

The 80/20/30 Rule

If you get rid of the 20 percent of your customers who cause 80 percent of your headaches, your profit will increase by 30 percent.

-- Alex Stewart

Consulting

A consultant should spend two-thirds of his or her time consulting with clients and one-third lining up new work and doing PR.

-- Peter K. Francese

Keeping Your Customers

Between 54 percent and 70 percent of customers who complain to a company will do business again with the company if their complaint is resolved. That figure increases to 95 percent if the customer feels the complaint was resolved quickly.

-- Anonymous TA

Looking At Letters

One out of every three business letters does nothing more than seek clarification of earlier correspondence.

-- Scott Parker

Keeping Your Customers

Customers who have complained to a company and who had their complaint satisfactorily resolved tell an average of five people about it.

-- Anonymous TA

Keeping Your Customers

The average customer who has had a problem with a company tells nine or ten people about it.

-- Anonymous TA

Working With A New Client

A job with a new client will take about 25 percent longer than the same job with an established client.

-- Michael Rider

Consulting

A consultant should never charge for less than half a day of work.

-- Daniel Corbitt

White Collar Vs. Blue Collar Rule Of Bathing

You are a white collar worker if you need to bathe before work. You are a blue collar worker if you need to bathe after work. You are very well paid if you need to bathe both before and after work.

-- Kee Nethery

Filling Out A Survey

On a survey with rankings ranging from 1 to 5, when the responses are tabulated, 1 and 2 will probably be lumped together, as will 4 and 5. So don’t waste effort deciding whether to put down a 1 or a 2.

-- R. A. Heindl

Make Meetings Productive

When attending a meeting, walk in with one thing in mind – what is your primary objective? Knowing what you want to get out of the meeting will help you keep discussion on-track and eliminate digression.

-- Nathan Odle

How To Succeed

There are two rules to increasing your chance of succeeding in life: 1) Do more of what you like 2) Do less of what you don’t like

-- Summy

Getting Paid

When dealing with notorious non-payers, always charge twice as much as the job will actualy cost, then get half the money up front.

-- John A. Van Doren

How To Determine If A Recession Exists

By one rough rule of thumb, a recession occurs when there are two consecutive quarters — six straight months — when the economy shrinks

-- Scott Parker

Word Of Mouth

A happy customer will tell a few friends how great you are. An unhappy customer will tell everyone they know to not ever do business with you.

-- S L Young

Problem Employees

The general difficulty of managing an employee is proportional to the number of noncontinuous sick days they take.

-- Antietam

Oppotunity Knocks

When opportunity knocks, don’t complain about the noise.

-- Silvax

Amount Of Work

Any job will increase to fill the time allotted. (Parkinson’s Law??)

-- Randy

-- Compiled from RulesOfThumb.org