Even though it seems impossible, establishing a small fortune capital business is not wishful thinking. That can happen if you study with Bob Sadino.
Of course you know, the late Bob Sadino has always been a role model for anyone in business. The truth is, what Om Bob said in his pearl words sometimes confused. But make no mistake, it is a valuable lesson from a business legend.
This man whose real name is Bambang Mustari Sadino is a real example of someone coming out of his comfort zone and starting a business from scratch.
In an interview with Bintang.com, Bob Sadino gave advice for those who want to have a small profit business.
Do you want to know what his advice is? Let’s read the reviews below.
1. Choose a business that you master
Do you want to have a small profit business? Never imitate other people, just choose a business in the business sector that you master.
By doing this, you will save time. Do you agree?
When you understand the line of business, it means that you will not bother doing research. You already know what the product is, what its advantages and disadvantages are, and who is the market.
Without taking a long time, you can certainly execute this business. And you can also be easier in analyzing profit and loss for the future.
2. Tell your business to friends
Why are friends first? The problem is if your friends know you have a business, then there are two possibilities that will happen: first is that he can be your prospective customer, and the second he can be your business partner.
For the second, you certainly understand the importance of expanding business networks or networking. If your friends can help you develop your business, of course you are lucky, right?
3. Don’t use third parties for promotions
When successful, anything can be bought including Jaguar, Mercedes-Benz, and his friends (Kontan)
This third advice is closely related to marketing activities. The point is not to get trapped using services from third parties to launch a promotional strategy.
What do third parties mean? A third party can be said to be an agency or consultant.
When you decide to use their services, there will automatically be costs that you incur, right? As cheap as they can, of course it’s cheaper if you design the promotion strategy yourself.
That is why Om Bob gives advice so you can deepen the knowledge of marketing communication. If you can launch a good communication strategy, then you don’t need to spend more money to rent a third party.
4. Make a priority
The fourth advice is closely related to the things surrounding your business cash flow. All businesses that are running certainly have capital, there is also a capital of money, there is also a capital that is only labor.
But specifically for businesses whose capital is money, the legal cash flow must be maintained. That’s why you have to prioritize what projects you will do in the near future and what the budget will be.
When you don’t make a priority, the financial condition gets messier. For example, because it never budgeted costs, promotional activities might not be controlled. All activities are sponsored, open booths here and there, basically on behalf of “promotion” so that your product is famous.
Over time, all funds allocated for promotions have never produced significant returns. And as a business owner, you even lose money.
5. Don’t rush to borrow money at the bank
Starting from the domestic chicken egg business, om Bob managed to have a supermarket (Metrotvnews)
For establishing a small, large profit capital business, you don’t need to rush to borrow funds to the bank. Later, yet your business is not a big capital business. Yes, no?
Bob Sadino suggests that you invite your friends or friends to invest in your business. When the business is profitable, don’t forget to share it with them.
With this mechanism, it’s the same as giving them shares for your business. Do not close the possibility, if at any time your business is in demand, then they dare to invest with even more funds.
6. Use social media
Today’s business people certainly must have social media. Because this can be a powerful weapon for promotion.
Although the late om Bob is an old-fashioned businessman, he still agrees with the use of social media. Bob said that social media is very practical in helping with promotional activities.
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