11 Lessons from a Street-Smart Entrepreneur

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As a budding entrepreneur, I’ve made many mistakes; Some of which could have possibly been avoided had I read more books and gathered more information beforehand. Thankfully, it’s almost never too late to learn, grow and achieve your entrepreneurial goals. Having started reading and loving the learning experience, I want to share 11 lessons from one of the books I read earlier this year- “The Street-Smart Entrepreneur” by Jay Goltz. 

1. Take inventory of your assets and leverage them. If you’ve got it, use it, even if it’s just a great smile.

2. A healthy business starts with a healthy body. Your health is your best long term investment. Taking care of your health is one job you can’t delegate.

3. Get rid of employees who continually challenge your company’s standards.

4. Long term relationships are easy to get into and hard to get out of. Choose your partners carefully and always have an escape clause.

5. Motivation without education leads to frustration.

6. Screw ups happen when you delegate authority but deal with them. Don’t stop delegating.

7. A Litmus test – Ask yourself how you would feel if a given employee told you today that he/she was leaving. If you wouldn’t feel sorry to lose that employee, he/she probably should be off the payroll.

8. Continually ask yourself, “What’s the most important thing for my company right now, and how can I best leverage my abilities in the service of my company?”

9. Stop being so gullible. People lie. Fullstop.

10. Take time to read – Business magazines, books, articles, audiotapes.

11. Companies that have great customer service have great customer service training. SAVE is an easy way to remember how to deal with customer complaints.

S- ympathize- let them know you care and understand

A- ct- do something to resolve the problem

V-indicate – let customers know it’s not normal to make that kind of mistake

E-at -bare some of the expense or loss to redeem situation so as to make the customer happy and save company from losing a customer.

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Thanks for reading. I hope at least one of these lessons resonated with you. Please follow and SUBSCRIBE to my blog and get updated when there’s a new post by clicking the ‘subscribe’ button on the page.

Love & Blessings,

Queen Stacia.

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Personal IG: @staciadavidson

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