Nathan Price
2.9K posts

Nathan Price
@nathanaprice
I help business owners reach their cash flow goals | VCFO, Reporting & Bookkeeping | Tweets about business financial acumen, profitability & cash flow.
Want more financial freedom: Katılım Aralık 2016
140 Takip Edilen166 Takipçiler

@sweatystartup I do this when I use a service or business.
Most of the time I walk away thinking that I could've been upsold into another product very easily or given them my email address to join a membership etc.
There's a lot of low hanging fruit in small business.
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This weekend go for a walk by yourself or with a friend in your local downtown area.
Every business you pass by, ask yourself these 6 questions:
1) How does this business make money?
2) Roughly how much money do they make per day, week and month?
3) How many employees do they have and what do these employees cost the business each month?
4) How much did it cost to start this business? What's the minimum amount of $ you would need to make it happen?
5) How much rent do they pay for this location or how much was it to buy this building?
6) How much profit might this business generate for the owner each year?
Observe ALL of the companies around you.
Restaurants, bars, coffee shops, retail stores, professional services, banks, hotels, movie theaters, barber shops, etc.
If they are in business in your town and they have been there for a while, they are making money and providing value.
Then answer the following two questions:
1) How would I run this business more efficiently if I were the owner of it?
2) How would I create more revenue or reduce costs and how could I operate this business just a little bit better?
If you walk around the world with this mindset, you’ll discover an infinite amount of opportunities.
You will start to understand which businesses are good businesses (i.e profitable, easy to operate, sustainable, simple)
And which businesses are bad businesses (i.e painful, low margin, high-turnover, complex, tons of moving parts, etc)
And you will learn a ton about where you want to spend your time and which opportunities you might want to pursue.
Go do this and then respond to this post with what you learned or saw this weekend or next week.
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@KurtisHanni Here's mine:
Beach holiday weekend
Home gym
Tesla
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I’m trying to gamify my business and make it more fun, so creating different revenue milestone rewards.
So far I’ve got:
- nice steak dinner
- new golf putter
- season tickets to Ok State football
Give me some ideas… what is a “treat” that’d get you excited?
Doesn’t need to be extravagant, just something you’ve either:
- held off buying
- couldn’t justify the cost
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