AFTER 25 YEARS IN BUSINESS:

10 GREAT TIPS FOR BUSINESS

OWNERS

Seggy T Segaran

Tele-Products Ltd

October 2013

Tip 1

Set out to deliver the best

product or service that you can.

If you get this right, then sales

and profits will follow.

Tip 2

Surround yourself with a great

team.

“You see further standing on the

shoulders of giants.”

Tip 3

Treat your suppliers with

respect.

Remember that they help you

deliver a great service to your

customers.

Tip 4

Don’t place all your trust in

banks.

They love to lend you an

umbrella when the sun shines

but take it away the minute it

rains.

Tip 5

See which bit of your marketing

is actually bringing in the sales.

If something is not working then

don’t be afraid to stop doing it.

Tip 6

On average, 20% of what a

company does brings in 80% of

the profits.

Constantly weed out the 80%

and grow the 20%.

Tip 7

Have Key Performance

Indicators (KPIs) for everything

that is important in the business.

Use this constantly to measure

the company’s health.

Tip 8

It's easier to get business from

existing customers than

constantly find new customers.

Build a business with a loyal

customer base.

Tip 9

Constantly re-invent yourself.

Never stop learning.

Tip 10

You are not going to be round

for ever.

Plan an escape route and make

the company independent of

you.