Gumbo Business: 10 Lessons learned doing business in new orleans

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Gumbo Business: 10 Lessons learned doing business in new orleans

  1. 1. Gumbo Business:<br />10<br />Lessons learned <br />doing business in <br />New Orleans<br />
  2. 2. 1.Cashflow is KING <br />Positive cash flow can earn you<br />money, loans cancostyou money<br />
  3. 3. 2.Make your business hurricane<br />proof using technology (i.e. digital <br />copies of all documentation,<br />remote data backup, etc.)<br />
  4. 4. 3. You need not be clearing<br />massive profits in order to<br />outsource tedious tasks.  The<br />amount of time you lose trying to<br />do everything is much greater<br />than the cost of outsourcing. <br />Learn to delegate.<br />
  5. 5. 4.Ask questions to your<br />customers, be curious. Strive to <br />serve their needs and be flexible <br />enough to adapt to changing <br />needs. New Orleanians are very<br />talkative. Engage your customers <br />and they will reward you<br />
  6. 6. 5. Customer service will never <br />be a lost art and no business has <br />ever lost profit by being good to <br />their clients<br />
  7. 7. 6.Pick your vendors carefully.  <br />Your business is only as good as <br />your weakest supplier.  If a vendor<br />drops the ball (on something <br />avoidable) move on.  There are <br />plenty of hungry vendors waiting <br />for the opportunity to win your <br />business.  Always have a back-up <br />ready.<br />=<br />
  8. 8. 7. Take good care of your <br />employees. Let them <br />know that you trust them to <br />carry the baton and you will <br />build a strong team of people <br />who care about the big picture.<br />Good business equals job security<br />and bonuses.<br />
  9. 9. 8.Sometimes the best <br />marketing is done by giving back <br />to the community.  The spirit of <br />community is valued in New <br />Orleans and consumers want to <br />shop with community-conscious <br />businesses.<br />
  10. 10. 9. Change up your marketing <br />every now and then.  Be sure to <br />record what works and what <br />doesn’t.<br />
  11. 11. 10.Understand business cycles<br />While there is no crystal ball that<br />accurately predicts the future,<br />small business owners should be <br />able to endure the worst of times,<br />and position themselves for <br />success when conditions inevitably <br />improve.<br />
  12. 12. www.mogoventures.com<br />info@mogoventures.com<br />Facebook: mogo-ventures<br />Your small business problem solvers<br />

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