Business Growth

So many are saying goodbye to the corporate world. Some are retiring and then find themselves a bit bored. Others just want to be their own boss.

When I started Cambridge Solutions Inc in 1993, I had no idea of the challenges that I would face. When I founded QCsolver Inc. 2012, I had a much better idea of what I needed to do but I still had a lot to learn.

A few things that I did learn that I wish I had known earlier.

1. Make sure you have a good lawyer and accountant. They both could save you a lot of time, effort and money
2. Marketing is great but it is hard to get right. The best way to market it to network with people (not by Zoom or Teams)
3. If you are business to business then it will be harder to meet your customer
4. Everything takes a lot longer than what you thought
5. Everyone has an idea on how you can do better but they are often wrong
6. People who like what you do but don’t buy what you are selling are not the people who should be giving you advice
7. Cash flow is the most important job to manage. It is what puts most companies out of business.
8. Diversify your client base which will help you offset dips in the economy
9. Beware of becoming too dependent on a small number of clients.
10. The best sales person is you. Trying to find some to sell your services is a lot harder than it sounds.

Here is a document produced by HGM Consulting Canada that just might be what you need to do first.