The ‘Basics’ of Business

I spent last week attending a fabulous training seminar – Guerrilla Business School, presented by Peak Potentials.

I learned SO MUCH!  I really had a great time, experienced amazing business leaders, and met some wonderful people.

Here are a few of the industry leaders we learned from:

Adam Markel – Chief Energy Officer/Master Trainer, Peak Potentials
Alex Mandossian – No List Marketing Strategies
Niurka – Master of Supreme Influence
Keith Cunningham – Business Man (Robert Kiyosaki’s “Rich Dad”)
Blaine & Honey Parker – Slow Burn Marketing – Branding
Berny Dohrmann – CEO Space
…the list goes on and an…!
 
Adam Markel, Peak Potentials

Adam Markel

Keith Cunningham

Keith Cunningham

 

The very first day Adam Market clarified a few ‘basic’ business strategies that all Business Owners and Entrepreneurs should keep in mind.  First, the essence of business is to create/buy something over here (hold out your left arm, palm up…) and sell it over there (hold out your right arm, palm up…).  So often we get bogged down with administration, tech support, customer service, etc., that we lose track of the basic essence of business.

“Business is simple…we complicate it.”    Adam Markel, Guerrilla Business School, April 24, 2012

The three primary aspects of business are:

  1. Production
  2. Operations / Admin
  3. Marketing / Selling

Most of us put 30% of our efforts into Production, 50% of our efforts into Operations/Admin, and 20% of our efforts into Marketing.

This is a losing formula!

The winning formula (what we should all base our day-to-day actions on) is this:

  1. Production = 20%
  2. Operations / Admin = 20%
  3. Marketing / Selling = 60%

That’s right – we should be spending 60% of our time, efforts and talents on Marketing / Selling, not the 20% we get wrangled into because we get caught up in the operations and admin side of things.

So – take a moment to think about how you spend your time on your business…are you getting bogged down with the ‘other’ things?  Do you need to reevaluate how you spend your time and increase the amount of time you spend on Marketing and Selling?

Think about it – Marketing and Selling is ultimately how we get paid!  Doesn’t it make sense that we spend a majority of our time doing it?

So, let us know – how have you been allocating your time between these three primary aspects of business?  How will you adjust how you spend your time in the future to adhere to this preferred allocation?

Can’t wait to hear your comments!

Sales & Marketing

Sales & Marketing

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2 Comments on “The ‘Basics’ of Business”

  1. Bryan Wagstaff Says:

    I see your point. That makes reasonable sense if one person had to do all those tasks, though I question his 20, 20, 60% break down. Or you could have three highly skilled people putting 100% into their perspective area i.e. production, admin, and sales.

  2. Alison E. Says:

    Sounds like you had a terrific and illuminating time at the conference! Bravo! I concur with the rut of 30%, 50%, and 20%. I think it is because we know better how to do #1 and #2, but #3 is a more difficult, challenging, scary, vague, and emotionally/financially risk-filled undertaking.

    I will have to watch myself and be sure to NOT fall into that rut. Even though I am not in a traditional product [i.e. widget] sales business, I DO have to sell myself in the service industry of the behavioral health sciences as I search for work, and I will have to keep the notion of self-marketing at the top of the to-do list.

    Thanks!! 🙂


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