#AskPeshev 84: Is Your Business Safe?

#AskPeshev 84: Is Your Business Safe?

March 17, 2021

“Even the most robust processes aren’t always ideal and may fail. But reducing the error ratio is what it takes to build a scalable business.”

— Mario Peshev

Some difficulties in business are inevitable.Your goal as a business leader is to establish processes that can withstand trials and bring forth consistent results.How do you keep your business healthy and thriving amid drastic changes and any crisis?I have shared in this newsletter some of the things that work for me and my companies. Feel free to share yours as well. Or, let’s talk about a business pain point that I can help you with. Just hit “Reply” :)Mario

Staying tuned in to the pulse of your industry is key to becoming a successful entrepreneur. Public groups, online forums, and the like are among the most valuable resources for gathering and contributing industry information.

It's All About Reading...

Processes. Your business processes are considered the primary determining factor in retaining the quality of your products even after changing employees. They are hard to nail down in a creative environment (think of art). In most cases, products follow a complex workflow designed to replicate the original design as close and as best as possible.

Quadruple Down on Sales Channels That Work | Mario PeshevQuadruple down—not just double down—quadruple down on targeting your prospects. Make sure that once you find a channel that works, you use this channel as best as possible to scale down production and attract better prospects, and reach more and more prospective customers.

How to combat the biggest pain in business — meetings?Meetings eat up an insurmountable amount of time for almost every growing business out there. Affecting productivity in-between and jumping across multiple meetings a day can be disastrous for work efficiency - and yet, it's really hard to get out of the rabbit hole.The stats are scary - and I've listed some of them in this weekly deck.

Unorganized meetings cost USA companies as much as $399 billion while the UK spends about $45 billion. But then, here’s the painful truth—most meetings can be unproductive no matter the amount of effort you put into organizing one.Before you schedule a meeting this week, first check if you have:✅ Clear objectives✅ Clear agenda✅ Just the right number of expected attendees

Figuring out whether a business is healthy and thriving seems obvious if you take a look at the bank - but not necessarily. VC-funded startups play different games, successful businesses in travel or accommodation took a serious hit, pharmacy-related ones (traditionally boring and slowly evolving) grew immensely last year.Here's how to regularly gauge the longevity and profitability of a business - and ensure you're not shooting in the wild.