This table for business serves as a reminder to me that it is a business relationship. Like anything else, it will change, or not be the same, over time, but I am thankful that it is.
A business relationship isn’t defined as just a business. A good business relationship is more like a friendship.
You can’t get a business relationship until you’ve been around long enough to know exactly what it means. I’m not talking about the first time you meet someone, or the first time you get together, or the first time you buy a house. I’m talking about when the first time you start a business relationship.
You don’t have to know the exact financial figures of your business, but you do have to be able to talk about it. Most business relationships arent all that complicated, but there are many things they arent.
Ok, that brings me to the second half of this list. Most business relationships arent all that complicated.
When I say most, I mean most people have some sort of investment in the business relationship. The investment is what makes the business relationship work. Some people invest nothing and the business relationship is just a one-way trip into and out of your bank account. Other people invest a whole lot and the business relationship is a two-way trip. You may not know the exact financial figures of your business, but you do have to be able to talk about it.
There is a lot of talk about how much of your profits is the money you put into the business. Yet many investment vehicles take months to make money, and the money is only made when you’re making money. Some of the most successful money-making ventures are ones where the founder has zero capital and just puts in the effort.
You can go into a business and put a lot of money into it and it will take some time to make back your investment. But the more money you put into a business, the more it will make back your investment.
If your business is a profitable business, it will take time to make money back. But it takes a lot longer if you don’t put in the effort. And if you put in the effort and don’t get the results you want, you run the risk of giving up too soon.
The first step to building a successful business, is to have a clear and measurable goal. When I started my business, I had no idea what my long-term goals were, so I just had the vague idea that I wanted to make a lot of money. But the more I dug, the less I could discern. I started by creating a spreadsheet that kept track of everything I was spending, and I started to see that I was spending $200,000 a year on my business.