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7 Important Things I Learned When Starting My Own Business

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7 Important Things I Learned When Starting My Own Business

There are vital business lessons to be learned by every entrepreneur every day. Even the most experienced and successful entrepreneurs learn new lessons everyday across different spheres of running business.

Here are lessons picked up along the road by Elena Ledoux, founder of supermaids.net She posted these business lessons on quora.

  1. Cash is king. How much money you have in the bank at the end of the month is all that matters.
  2. Majority of products and services suck. If you go out there and don’t suck, you’re already ahead of the game.
  3. Business is all about people. Give your clients and your employees a little bit of love and they will make your business successful.
  4. Identify your values early on and stick to them. Make all the decisions based on these values. No matter how inconvenient or expensive, do the right thing.
  5. Don’t be afraid to charge higher prices if you’re providing higher quality work. Not everyone has to be your client.
  6. 20% of your clients and employees create 80% of headaches. Act accordingly. The reverse is true also.
  7. Be careful who you’re partnering up with. As with marriage, relationship with your partner is of utmost importance and can destroy or elevate your business.

Read also: 5 Entrepreneurs in Africa who started a successful business with $100 or Less

This response appeared on Quora by Elena Ledoux, Founder of SuperbMaids.net

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