Small Business Success Tips With Jim Palmer

(Newswire.net — June 22, 2015) Sydney, New South Wales — Jim Palmer is a marketing and business growth expert, author, and television and radio host. Having become known worldwide as ‘The Newsletter Guru’ for being the go-to expert for maximising the profitability of your customer relationships, Jim has recently released his latest book, “Decide: The Ultimate Success Trigger.”

 

Q: What exactly is a dream business?

There are several elements to a dream business. In my opinion, a dream business continues to grow even in a bad economy, it has multiple streams of revenue, and it becomes an asset for worry-free retirement. A dream business is always firing on all cylinders, it’s fun to operate, it provides the lifestyle you want, and it allows you to give back and make a difference in the lives of others.

 

Q: What are some of the common ways to help small business owners create a dream business?

A lot depends on where someone is at with their business, but there is two common elements. Firstly, I look for hidden opportunities for growth and/or higher profit. When I work with entrepreneurs and small business owners, one of the common things is that they are so close to their business that they can’t see some of the opportunities that might be right in front of their eyes.

 

The second very common trait that most people have is the, “I can do it better, cheaper, faster, better approach.” This is not the way to grow a dream business. One of the things that is most important is you have to release and let go. This means that you have to delegate.

 

Q: You’ve written many books. Why did you write this one to help small business owners create a dream business?

I have published six books in six years and I think “Decide: The Ultimate Success Trigger” is my most important book to date. All of my previous books are all very good for helping to grow entrepreneurial and small business, but one of the things that I think holds most people back from achieving higher levels of success is the mind. A lot of people think that your God-given talent combined with your work ethic, your drive, and ambition determines how much and how far you will grow.

 

I believe it’s a little bit different. I think your God-given skill, your acquired education, worth ethic, drive, ambition, and your moral compass all makes up what I call the machine of your business. What fuels your machine is your mind-set. Very often, people do not have the correct mind-set in order to achieve all the success that they want.

 

Q: I know you coach several entrepreneurs and small business owners. What are some of the common mind-sets that stop people from achieving higher levels of success?

There are a few common mind-sets I have found. Head-trash – those are the self-limiting thoughts and negative beliefs that are preventing you from moving forward. The need to be perfect before you launch. The need to be perfect is not only a drag on your business, it can actually be a business killer. There is something called authenticity. There is the syndrome where you feel you are going to be found out, where you are fearful of a variety of things, which prevents you from moving forward.

 

So, one thing you need to do as an entrepreneur is to develop a thick skin, become immune to criticism, but you need to take action. You always need to be in action. Growing businesses love momentum. And momentum is created when you have action. If you still have head-trash, you still need to be doing things, even if it is doing one small thing at a time. I’m a big fan of small steps.

 

When you start to achieve small levels of success that gives you some muscle and it stretches your entrepreneurial muscle in your mind and that lets you start taking bigger risk, which opens up the opportunity for bigger reward in your business.

 

Q: You mentioned, “Wealth rewards risk.” What do you mean by this?

Wealth is a by-product of risk. It is a reward of taking risks. In my book I describe three levels of entrepreneurial risk as it relates to financial situations. Firstly, there is the savings account entrepreneur. Secondly, there’s the stock market entrepreneur and thirdly, there is the casino entrepreneur.

 

The safest bet you can ever place is to put, say $10,000, into a savings account. It is guaranteed you will not lose it. If you go back in 10 years you are going to have that $10,000 you invested, plus about $1.26 in interest. The reward is very low because there is very little risk. As an entrepreneur, if you had $10,000 to invest in your business and then you say, “That’s all I’m going to do. If I’m going to grow, I’m going to grow on sales and cash flow alone,” it’s going to take forever to grow.

 

If you are a stock market entrepreneur, you spread your risk around with some higher risk areas. You might invest in a coach, taking your company to an exhibit, something that requires an investment up front. And when you risk that money, you have a chance of greater reward.

 

A casino entrepreneur is someone who is very skilled and OK with risk. I like to talk about Fred Smith who pioneered Federal Express in the late 1970s. He invested in multiple jets, pilots, co-pilots, ground crew, delivery people. He was determined to get his business going. The truth is, he lost millions of dollars in the first three to six months. But he kept going until he had momentum. For Fred Smith, he risked big and he got a big reward.

 

Q: Where can someone get a copy of your book, “Decide: The Ultimate Success Trigger?”

It is available at Amazon in paperback and Kindle. I will actually send someone a free paperback copy of my book, the only think is I will ask you to pick up the shipping and handling of the book, which is $6.95. We also have an audio version of the book, go to www.Decideforsuccessbook.com

 

For further information visit www.getjimpalmer.com