How many of you read "RICH DAD, POOR DAD" by Robert Kiyosaki?
I am very privileged to have learnt from Rich Dad (the person whom Kiyosaki mentioned in his book) in last year's Wealth Mastery and NWA 2010 on 3 Rules of Business.
According to Rich Dad, there are 3 important rules that every business needs to adhere to in order to prosper and grow.
1) FOWTW - FIND OUT WHAT THEY WANT
Very often, entrepreneurs focus too much on their products that they forget that they need to focus on customers' needs rather than the product itself. Therefore, lesson number 1 for every budding entrepreneur is, find out what the market wants before even focusing on getting the product out. If you do not even know what the market wants, no matter how good your products are, your business will not thrive. Simple reason being you are not giving what the market wants and therefore no sales.
2) GAGI - GO AND GET IT
I am very privileged to have learnt from Rich Dad (the person whom Kiyosaki mentioned in his book) in last year's Wealth Mastery and NWA 2010 on 3 Rules of Business.
According to Rich Dad, there are 3 important rules that every business needs to adhere to in order to prosper and grow.
1) FOWTW - FIND OUT WHAT THEY WANT
Very often, entrepreneurs focus too much on their products that they forget that they need to focus on customers' needs rather than the product itself. Therefore, lesson number 1 for every budding entrepreneur is, find out what the market wants before even focusing on getting the product out. If you do not even know what the market wants, no matter how good your products are, your business will not thrive. Simple reason being you are not giving what the market wants and therefore no sales.
2) GAGI - GO AND GET IT
After finding what they want, you will then go get the product out. Again, this is another area where it requires you to focus on your core competency, knowledge and talent (CKT). If you lack the CKT, you will then need to invest your time and energy to expand your circle of CKT.
3) GITT - GIVE IT TO THEM
Lastly, offer your product to them in the market. Use the sales funneling system to capture them and keep them in your funnel as long as you can. The best business buttons are sales, more sales with referral and higher frequency.
Have you already put in place the 3 rules for your business?
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