Yep! Entrepreneur Bootcamp | Commercial Management Tips
Being a business owner, it's almost like being punched in the face, not just once, not twice every day. And then you still have to get up and just move forward. Because if you don't, your business goes away.
The basis or commercial management in a nutshell, really talks about the framework, or the guidelines that you have in your organization, or the commercial and contractual framework and guidelines in order to deliver to the promise the services, the solutions that you are offering in your business. So that that's, that's very generic.
So you need to know your competitors. And you need to be able to answer the question, Why should I buy it from you and not them?
as an entrepreneur, we've got to understand what's going to move the needle of the business, what are the drivers that we can impact today, that's going to give us a result, tomorrow, next week, next month,
you know, but if you ask any business, and what's your goal, for this year, he's got a number or she's got a number. And when you hit that number, that's when you're supposed to go slow down team, we've exceeded our goal for the year, if we keep going, we can, but we need to like do it within a reasonable realm. Otherwise, things get unmanageable, you obviously don't tell that your shareholders because they want you to shoot for the you know, the moon every time. But but as a business owner, you need to know internally where you're at, you know, so when you need to push when you need to slow down, you know.
You need to know your business, you need to become an expert in what you do. And if it gets down to things like the pitch, because it's, it's very important, like practice, practice, practice, you've got to get in front of the mirror, and you've got to practice your pitch, you've got to practice it, and say it out loud. And that gives you confidence, simple little tools like that really, really help.
And every business owner should be able to tell anyone, what are your top three metrics that can signal success for your business. And if you don't know that, that's a fundamental problem.
As entrepreneurs, we don't want to know that we failed when we run out of money. So when we plan for the launch of a product or a business, we've got to understand what the budget is what those KPIs are, that we need to track towards. And if we're not getting there, cut our losses earlier, rather than later.
Don't go to sleep or wake up in the morning as a business owner, and kind of know, a few problems you need to be solving and what the next step is, you know, then you've got a question Are you really cut out to run a business, because there's always problems to solve.
I think it also comes back to really have a deep understanding of the client's problems. I think if that's your starting point, and you really know that that is what the problem is. And that's what you're trying to solve it that actually supports you. That actually is what gives you the confidence that you are on the right track.
Now you starting a business, I think build it around a vision. And that's the key thing. Think be very purposeful around the culture that you're trying to build around the value set that you have as an organization.