Greg Fisher’s slide show on the 10 Basic Principles has received mention in the web site PowerHomeBiz.com. Each of those principles applies to the fundamentals of establishing and growing a business of any size. Nine of the ten have been practised by a successful home-based business in Los Angeles County.
The owner of that business earns a livelihood by renting and repairing computers. He realized at the start that he had to follow the first of Fisher’s ten principles. That first principle calls on the business-owner to decide what he or she will do and will not do. The young man who established this new home-based business had been working in a shop where some customers came in with broken computers. Others wanted a passport picture taken, or wanted to have their fingerprints made available to the proper authorities.
The young man who has set out on his own knew how to take passport photos and how to take fingerprints, as well as how to repair computers. However, he realized that once he had his own business, he would not be in a position to do all three. Therefore, he chose to concentrate on repairing computers, and having equipment available for rent, should a customer be unable to do without a piece of technology.
Fisher’s next principle focuses in on the area of service; a business owner should decide who he or she is going to serve. That principle proved fairly easy-to-follow for the young fellow in L.A. A number of the businesses that had been utilizing the services of a technician at one location were only too happy to support that same technician, when he chose to strike out on his own. Still, that same young fellow did not ignore Fisher’s suggestion, namely that the business-owner focus well on those men and women that he or she intends to serve.
Those who have sought help from that one technician-turned-business-owner have seen how his business is different. Each of them can re-enforce any doubts that the young man might have about his ability to follow Fisher’s third principle. That asks the business-owner to consider how his/her business is different from others.
In the past, when that former technician arrived at the location of a broken computer, he did not walk in the door with a large tool kit. However, now that he is on his own, he has invested in a bag that can be used to carry all the needed tools into the place where he will be working. He makes it clear that he is ready to carry-out the repairs on-site, if at all possible. That is a convenience that will no doubt be appreciated by many customers.
Those same customers probably lack an understanding of the efforts extended by that same business-owner, while seeking to follow the fourth of Fisher’s ten principles. That one calls for careful management of the business’ cash flow. This one young man works on his invoices every night. That way he can be sure that both new and old customers receive an invoice as soon as possible, after receiving requested services. That approach contributes to the careful management of cash flow.
Only the fifth of Fisher’s ten principles has been all-but ignored by this one business-owner. That fifth principle urges the careful management of employees. In this case, the business called Candid Tech Solutions is so small that the owner of that enterprise has not yet hired an employee. Still, he has tried to offer some type of incentive to the banker who has helped him with financing. Fisher encourages the awarding of incentives to employees.
While unable to exemplify the wisdom behind Fisher’s fifth principle, this one entrepreneur does a terrific job of showing the benefits achieved by following the sixth of the ten principles. Number six spells out the need to manage customer expectations. This one business-owner has made a point of limiting promises, and focusing instead on the delivery of results. In fact, one of his customers has urged him to be careful about allowing customers to have expectations that exceed the physical and financial capabilities of a small business owner.
One action taken by that business-owner in Los Angeles has shown his willingness to follow the seventh of Fisher’s ten principles. That is the principle that calls for the setting of goals, and the readiness to pursue them. When putting together a web site, this one young man sought help from a writer. Unfortunately, the computer skills of that writer did not equip her for placing content directly on the new site’s planned homepage, and adjoining pages. Therefore, the site-owner stayed up late one night, composing the content himself.
Because this young man is a real talker, he has done an excellent job of adhering to the eighth of Fisher’s ten principles. That is the one that urges the business-owner to strive for exposure within the marketplace. Through his readiness to talk about his business, this one entrepreneur has gained help from friends and family, who are ready to aid with his achievement of exposure.
For some business people, principle nine and ten might be difficult to achieve in a coordinated fashion. Those principles call for both perseverance and a show of integrity. It is always tempting to take a short cut, to try getting around some required hard work. This one young man knows that his customers count on him to avoid taking that route. For that reason, he goes out of his way to adhere to the final two of Fisher’s ten principles.