22nd December 2011, 11:40 AM
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Member
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Join Date: Jan 1970
Posts: 4,425
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Thanks for posting this UB.
I took a quick look at the Entrepreneur course.
It seems that in many ways USA is behind Australia.
Back in 2000, I did a small business course which exactly outlined the same principles in the video.
In other words, all the paperwork and cashflow models didn't apply.
Basically because you can't do it that way when starting up.
You need to have a business plan, but that plan is useless unless you have gone out to potential customers and asked them exactly what they need and want and how much they would pay, why would they go to someone different etc.
From that point, you create your business plan.
The thing that I learnt about business, is that no amount of advertising will get you quality and repeat customers as word of mouth recommendations.
In the 10 years I ran my computer business, I never advertised once.
Some products need to be advertised, but a service business is driven by referral.
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