Golden rules of business will seem obvious…almost seems pointless to talk about them. Yet it doesn’t matter where in the world you live, they are true in all areas. Along with the golden rules are cycles that are the difference between success and failure of an Entrepreneurial/Business venture. The cycles are always in lag (time between start and completion). The first cycle is the Exchange cycle… exchange time, energy, product and money. The second cycle is the Money cycle… and is the real score card of business. The key to business is always motion and the speed of motion.
Business Golden Rules
1. There must be Products or Service (Supplier and Manufacturer)
2. There Must Be a Customer
3. The Customer always Pays
4. The Business that supplies Products or Services must add VALUE!
5. To be in Business, the process must repeat thus creating more-with-less outcomes for all relationships
Exchange Cycles
Time, Energy, Products, Money
This is the real start of the journey of the Entrepreneur to Business Owner. Over the next few months, I will break down…
The “Why this information is the fundamental of Wealth building”.
The fundamental of all business is the costs exchange of Time, Energy, Products/Service and Money… Cost is where all risk starts.
Pricing exchange is always the mitigation of any risk that has been taken.
Again….Time, Energy, Product/ Service and Money play their part in exchange cycles.
Money Cycles Of Business
The money cycle is like the blood flow of business. If you are bleeding money, you will die. If the money does not flow “IN” and “OUT”, areas of your business you will need to cut off limbs to survive. If money gets contaminated by high business costs and or poor compliance practise, you will get a money fever and the business could die. Money has a timing cycle that needs to be understood to create real Wealth. The timing cycle of money depends on the Exchange cycle of any business. And always includes “IN, OUT, BETWEEN, AROUND”
Exchange Cycles and Money Cycles are the real ART OF THE ENTREPERNEUR/BUSINESS OWNER