3 Must Have Tips for Business Owners After Building Several Businesses with Karla Singson | Ep. 146 | Business Podcast

Summary

In Episode# 5 Karla shared her entrepreneurial story of how she used a continual customer feedback loop with a sprinkle of street smarts to build a super successful flower shop and then use that business’ cash flow to fund and build other businesses.

In this episode Karla drops her top three business tips for fellow business owners.

If you like these, you’ll love the full episode! Go back give it a listen.

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Brandon:

Hello Friends. Welcome to the show.

Today we’re turning back the clock and going to episode # five where we talked with Carla Simpson who has built several businesses have started off with a flower shop and used that revenue to build other businesses.

The full episode is packed with information.

This clip is Carlos Three high percentage tips for fellow business owners that you’re going to love and then you can roll back and go to July 21, 2020 Episode # five for the full episode.

We are still working hard on season two and we’re getting close when we launch with our new name Edge to help you be happier, healthier and richer.

That’s what we’re going to make happen.

Until then listen to Karla three tips.

Roll back to episode number five and enjoy the show.

Here we go.

Welcome to build the business success secrets.

Karla:

The only podcast that provides straight talk for entrepreneurs whether you’re an entrepreneur starting with an idea or growing your business.

Karla:

This show is for you.

Karla:

We’ll teach you how to build a strong mindset, powerful body and profitable business so you can achieve success and here’s your host, Brandon See White, I wrote on some H.

Karla:

And the first thing that I would say would be cash is everything so cold hard cash is really everything and that’s why you need to make as much cash as possible when you’re starting out your own cash, okay not investments if you don’t trust yourself and that’s one of the reasons why I never took investments because I just can’t trust myself that I would, you know, I’m stumbling through the dark, I can’t face an investor and promise him that I’m going to grow his business because I was just doing things by myself and I’m learning and I’m stumbling through the dark.

Karla:

So whatever stage you are in your business right now, the more cash you can collect up front, that’s better.

Karla:

So this involves a lot of things.

Karla:

This involves collecting a front payment.

Brandon:

Maybe you, if you want to sell, selling services, prepaid or selling gift certificates if you want to incentivize people for paying in cash rather than in credit.

Brandon:

So there’s different ways you can apply this principle, but that is really, and of course if you’re starting out sales and being a good salesperson is the first step to having to act to at least get get to a position that you can call yourself a business.

Brandon:

And then number two would be as you’re growing, it is your job to do what I call our oi driven hiring.

Brandon:

So every time I hire a new person, me as a business owner is my job to think about how I can make three times of the salary of that person.

Brandon:

So for example, I have this overflow of work And I’m like, I need to hire another person.

Brandon:

So if I’m hiring this person and I’m paying him, let’s say $2,000 a month I need to make a plan to make $6000 because I took this person in.

Brandon:

So I always try to make up these three times of what I’m paying them a salary because it’s also it’s also safety net for you as a business owner.

Brandon:

So it is your job as a business owner to think about your R.

Brandon:

Every time you hire a person because I don’t want you to just trigger happy hiring a person just because you had a really busy week, You have to have a plan.

Brandon:

These people, you gotta respect them to.

Brandon:

You can’t give them a job now and thinking oh shit sorry I didn’t work. So after 30 days I really did my best. So I’m really sorry I have to let you go. You also can’t do that.

Brandon:

So thinking this way you might think that oh my gosh, Carla, you’re just all about the money when you hire, it’s just about the money for you. But it should be like you have when you give someone a job, you’re promising them of a future.

Brandon:

So you should not forget that you’re promising them that their kids can go to school. You’re promising them if they do a good job, you’re giving them security, you’re going to treat them well and you’re going to be part, they’re going to be credited for the good work that they do. So that’s that’s the social contract that I understand that comes with hiring a person you gotta treat this person with respect and that’s why you have to have your cash ready and you have to have a plan and it’s your job as a business owner to have that bank.

Brandon:

So and the third H.

Brandon:

T. I would say is you have to make sacrifices and put your ego aside and you have to. So I am what they have an alpha personality.

Brandon:

Was the president of the debate club. I was always a champion of stuff. I’m the eldest child.

Brandon:

So I have a very alpha personality, but I always catch myself and I always spend time to like, am I wrong or I’m always also the first willing to do sacrifices and putting my ego aside for the good of your business.

Brandon:

So I read this quote the other day, I think it was louis house which shared it on on instagram and he said you have to decide what your ideal life is and everything that’s not that you have to be prepared to leave it.

Brandon:

And it’s it’s very, you know, it talks about discipline.

Brandon:

It talks about it also talks about all the unnecessary things that you have to be prepared to leave if it’s not for the higher good or if it’s not for the future that you want and that applies to your life, but for me that also applies to business.

Brandon:

So before I had trouble obviously I had trouble accepting when I’m wrong or when my employee is right or they’re more right or they’re better than me.

Brandon:

But now I have learned that and I’ve learned to apologize to ephemeral to my employee and I’ve learned to quickly except that other people’s ideas might be better and you know, just like really, you know, it’s not easy, obviously, especially for a person like me, where I think I’m right all of the time.

Brandon:

Ask my boyfriend.

Brandon:

Uh but you know, you have to, you have to think about your business, the business is bigger than you.

Brandon:

So I think about my business as my legacy.

Brandon:

I think about it as my chance to build generational.

Brandon:

Well, I have this big vision for what I’m really building.

Brandon:

I want to be a role model for women for women in the developing countries.

Brandon:

I wanna, you know, I want to inspire young women and I want to and I have all these big visions and so whatever serves that vision, that’s the thing that I will do.

Brandon:

And if it means that I will have to be wrong and admit that I’m wrong, then that’s fine.

Brandon:

And it’s not easy.

Brandon:

But I learned to kind of accept that Thanks for being generous with your time and joining us for this episode of build a business success secrets Before we go, let me ask you a quick question, Are you the type of person who wants to get 100% out of your time, talent and ideas.

Brandon:

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Brandon:

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Brandon:

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Karla:

The monks used to improve concentration and get more done in less time, a five step process to survive and thrive when things get tough, How to optimize your sales team, to grow your revenue in tons of other actionable, high percentage mind, body and business building tips and tricks.

Karla:

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Karla:

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Karla:

That’s B as in business success secrets dot com.

Karla:

And until the next episode, remember you are just one business plan away.

Karla:

I’m rooting for your success