I recently came across an interesting article written by Elaine Ilavsky in The Globe and Mail. She provides 5 interesting tips (that I've condensed) on how small businesses can grow and become "Blockbusters".
Tip 1: Own The Script - Learn to adapt and change your business plan as you go.
Tip 2: Create An Engaging Trailer - Be able to share your concept creatively with others in 20 seconds or less
Tip 3: Be The Indie Darling - Be diligent where you invest your capital. Keep your fixed monthly costs down (take your initial budget and take off a 0)
Tip 4: Hire A Team Of Experts - Recognize that at times you cannot do everything by yourself. Do what you do best and outsource other activities to experts.
Tip 5: Step Out Onto The Red Carpet - Get out and network with suppliers, consumers, and other industry professionals - Be passionate about your business and share your passion with others.
I found these 5 tips to be valuable and appropriate for the stage we're all at with this particular course. Probably the biggest advice I took out of this article was said in tip 4. I tend to be the kind of person that will often do it my self in an attempt to cut costs or so that I can do things the way I like it; however, overtime I've come to the realization that for certain things (especially legal issues) getting an expert involved will end up saving time and money in the long run. Nothing mind blowing, but some good food for thought.
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