People often say, “Try to think outside of the box,” when you are in a complex situation or making a difficult decision. However, have you ever wondered what would happen if you did the opposite and thought inside the box that you have found yourself in?
While skimming the aisles of the business section in the library, I came across a rather enticing title, Thinking Inside The Box, by Kirk Cheyfitz.
Cheyfitz spins the normal saying and capitalizes on what the “The Box” of the Entrepreneurial world really means. He describes the whole process of being a sort of blueprint of utilizing various business tools to building profits, having a long-lasting establishment and making it successful.
Now “The Box” that Cheyfitz is building out of, is not your ordinary box, it is in fact made of not 4 sides but 12. So, get your black binder a.k.a. Your Entrepreneurial Journey Guide and a pen. Here are 12 rules that will help you manage business and enable you to stay in your current state and think utilizing your surroundings.
The Basic Box: Some Things Never Change
You must understand the economic conditions and consider what the past, current and future holds for new business
The Jack in the Box: Profits
Insure that in fact you business can be profitable, review the true nature of its revenue vs. expenses vs. profits.
The Money Box: Cash is Everything
Profits are not enough to sustain the company, you must put aside cash that can handle the company’s bills as well
The Bottom-Line Box: Knowing What Can Be Controlled and What Can’t:
Keep an eye on your expenses vs. profits, always make sure that you break-even versus coming up short and jeopardizing the company’s success
The Box-Top: Customers Are The Boss
Satisfy your customers by supplying their needs, versus what you want them to have.
The Marketing Box: Unifying the Whole Business
Market by using all types of tools, even ones that you think will not make a difference. Selling is defined as doing the right things for the customer, so your goal is to sell all the time.
The Getting-Bigger-Faster Box: If You Can Buy It, Don’t Start It Up
Research, research, research! Make sure that you are pushing a product that is different than what can already be bought, or a service that can already be obtained. Be opportunistic, but focused at the same time.
The People Box: Hire Smart or Manage Hard
Hire quality people that can manage your business without you looking over their shoulder. When you hire for convenience that you become a micromanager and stray away from your own duties.
The Treasure Box: Secure the Real Assets
Find the business’s true asset, what makes it different and or insures it’s success and capitalize on it.
The Ends-Over-Means Box: Results Are More Important Than Process
The end result matters the most, the Ultimate Goal is more important than what it took for you to get there. Once you know where you want to be, how you are going to get there comes easier.
The Renewable Box: Nothing Lasts Forever
Renew the basic business, always keep the foundation that started your company in the first place.
The Houdini Box: Always Have an Exit Strategy
Make a plan to get your money out, once that business is producing profits, find different ways to no longer use the money out of your pocket.
So, take these 12 sides and think inside the box or state of mind that you are in. Use the tools to help you make the best out of where you are, instead of getting out and figure out what you did wrong. If you start within, the chances of expanding in a more positive way are far greater!