5 • 2K Ratings
🗓️ 31 January 2023
⏱️ 14 minutes
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#entrepreneur #smallbusiness #podcast #howto
Clip from episode #328
Helping entrepreneurs also helps a community within a society to thrive. If it were not for entrepreneurs there would less fulness of function within an economy. It's because of the ideas in action that are rapped within the entity of a business that helps to fulfill consumer needs.
In order to thrive as a business you must resist the drawing board and re-center on the reasons that started the business in the first place. In some cases, a change may be necessary in order to keep the business strong. This is one of the reasons that there are surveys and questionnaires sent out to customers in order to get feedback on the products that are provided.
Every business CEO benefits from the feedback from their customers as well as counsel from mentors. Implementation of that feedback will typically yield a positive outcome for that company.
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0:00.0 | At TFL, we're making journeys safer for everyone, and that includes improving safety on London's roads. |
0:07.4 | That's why we and London boroughs are lowering more speed limits to 20 miles per hour, |
0:12.3 | because 20 miles per hour roads have already reduced collisions resulting in deaths or |
0:16.8 | serious injuries by 24%. That is how we're making journeys in London safer and brighter for everyone. |
0:24.8 | Such TFL improvement plan to the Mayor of London and TFL every journey matters. |
0:30.8 | So we have to take some of our income and turn it into capital. If we have a job where we're |
0:36.0 | making $1,000 a week, $500 a week, that is income. The moment where you take that $1,000 and you say, |
0:43.8 | okay, 10%, I'm going to put it into the jar and we're going to label it capital. That $100 |
0:52.0 | out of the thousand from your income is now capital. Over a 10 week period that jar is going to |
0:57.6 | grow to $1,000. That $1,000 you can buy a camera with is going to make you money or that $1,000 you |
1:04.0 | can buy a payroll to sell or whatever. So you have to take part of your income and turn it into |
1:10.8 | capital. So did you have any formula of turning your income into capital? Do I now? No, did you? |
1:19.4 | I'm talking about why you were working a job, taking some of the income. Oh, for sure. |
1:23.8 | And targeting it as capital. Yeah. So when I was working and I had my clothing store, |
1:30.4 | I take some of this is after I lost everything and I was working really off of my $11 and I |
1:35.1 | were something like that income. I would take I was living with my mom at this time and we I |
1:41.2 | wrote out a list of everything that we needed to start the clothing store and whatever I had left |
1:46.0 | from my paycheck, my income, I would look if it's $50 what on this list can I get with that $50 |
1:55.1 | and so we order like, you know, clothes, wholesale, things like that and we turn those things into |
2:02.4 | the money that we need. So we put that money aside until we're able to buy what we need |
2:06.4 | for our store and then once we bought those things that we needed for our store, we then turn those |
2:10.5 | into a profit. For sure. So most people there, you want to be an investor or you want to start |
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