6 principles of entrepreneurship

May 10, 2010

I once worked for a man who understood entrepreneurship.

This guy was a genius.

He took a company that was doing about $3,000 a month in sales to over $12 million a month.

And he did it using some basic principles anybody can apply.

1. Sell a product that addresses a universal desire.

2. Advertise widely using every media available.

3. Test and tweak your advertising message until you find one that strikes the loudest chord with your target market.

4. Create a sales driven company and invest heavily in improving sales skills.

5. Keep a minimal staff, hire people on commission or on performance.

6. Turn a percentage of sales back into even more advertising until everybody who can buy knows about you.

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