1. It’s got to be a BIG idea that you, your team and your
customers can “get” in seconds.
2. Strive to create 10x – 100x in value for any price you
charge. Your rewards are always proportionate to the value you provide.
3. You must charge a premium price so you have a large
margin to provide an extraordinary value & experience.
4. Provide a ‘Reason Why’ customers should do business with
you and pay you a premium.
5. Get paid before you deliver your product or service. And
when possible figure out how to create recurring revenue from transactions.
6. You get to make the rules for your business. Don’t let
industry norms dictate how you’ll work or who you’ll work with.
7. Create your business around your life instead of settling
for your life around your business.
8. Consistently and constantly force yourself to focus on
the ‘critically few’ proactive activities that produce exponential results.
Don’t get caught up in minutia & bullshit.
9. Seek to minimize start-up risk but have maximum upside
10. Get your idea out there as fast as possible even if it’s
not quite ready by setting must-hit deadlines. Let the market tell you if you
have a winner or not. If not – move on and fail forward fast! If it’s got
potential – then you can make it better.
11. Find partners and team members who are strong where you
are weak and appreciate being paid on results.
12. Your reputation always counts. Honor your obligations
13. Never, ever get paid based on hours worked.
14. Leverage your marketing activities exponentially by
using direct response methods and testing.
15. Measure and track your marketing so you know what’s
working and what’s not.
16. Bootstrap. Having too much capital leads to incredible
waste and doing things using conventional means.
17. Your partners and employees actions are their true core
– not what they tell you.
18. Keep asking the right questions to come up with
innovative solutions. “How?”, “What?”, “Where?”, “Who Else?” & “Why?” open
19. You’ll never have a perfect business and you’ll never be
totally “done”. Deal with it.
20. Focus most of your time on your core strengths and less
time working in areas you suck at.
21. Make it easier for customers to buy by taking away the
risk of the transaction by guaranteeing what you do in a meaningful way.
22. Always have something else to sell (via upsell,
cross-sell, follow-up offer, etc) whenever a transaction takes place. The
hottest buyer in the world is one who just gave you money.
23. Always go back to your existing customers with
exceptional offers and reasons they should give you more money. It’s 5x less
expensive to sell to happy customers than go find new ones.
24. However the flip side is – fire your most annoying
customers. They’ll be replaced with the right ones.
25. The marketplace and competitors are always trying to
beat you down to a commodity. Don’t let that happen.
26. Develop and build your business’s personality that
stands out. People want to buy from people.
27. Create your own category so you can be first in the
28. Go the opposite direction competitors are headed –
you’ll stand out.
29. Mastermind and collaborate with other smart
entrepreneurs if they have futures that are even bigger than their present.
30. Celebrate your victories. It’s too easy to simply move
on to your next goal without acknowledging and appreciating the ‘win’.
31. Make your business AND doing business with you FUN!
32. Do the unexpected before and after anything goes wrong
so customers are compelled to ‘share your story’.
33. Get a life! Business and making money are important but
your life is the sum total of your experiences. Go out and create experiences
& adventures so you can come back renewed and inspired for your next big
34. Give back! Commit to taking a % of your company’s sales
and make a difference. It this becomes a habit like brushing your teeth pretty
soon the big checks with lots of zeros won’t be scary to write. If you think
you can’t donate a percentage of your sales simply raise your price.