How to ru(i)n your business

We all make mistakes, and as long as they are not too big, and we don’t repeat the same mistakes over and over again, you should be in a better place after the experience.  In business and media they often like to tell you what you should do to be “successful”.  I think such tripe is redonculus.  What people do better is learn from other people’s experiences (aka MISTAKES).

Don’t Don’t Care

When you run your own business, it can become tiresome.  You wake up and start cursing “not again!”, before you even got your first cup of coffee.  That is a dangerous place to be in when you are running your own business.  Your clientele KNOWS you don’t care with that kind of an attitude. You will bleed customers.  The problem with running a school is that teachers also quickly get into the “F*ck it all” mindset.  In my experience  the best way to avoid these situations is to create the feeling that you achieved something.  As a teacher, when the kids fail, it’s your fault, when the kids succeed, it’s their doing.  You don’t get a pat on the back as if you were working in sales or project management.  This ungratefulness (or feeling as such)  can eat your mind.

Don’t know it all

As a school you do need to position yourself, but you also need to be able to adapt to the needs of the customer.  Something I am sorely lacking, mostly due to my inability to accept the “best practices” in SK.  I try.  I really try.

Don’t not do advertising

You stop advertising, you stop getting new students.  End of the line.

Don’t spend that cash

The first three years of running a hagwon are the hardest, and if you understand the basic principles of the BCG matrix, you will understand that the first three years of operating a NEW business, you will have to reinvest every single penny you make.  Every single one.  No holidays, no fancy cars, no expensive dining, …..  Really.  Your initial investment will never be enough to support a growing school.

Don’t Not Network

Get out there, meet people, show your face and find ways to cooperate with other small businesses.  Yeap, it will cost you time, money, patience, and most of it will go wrong, but when things go right, it will keep your bottom line happy.

Don’t ignore your ignorance

Yes, you are ignorant, as am I, of certain aspects of running a business.  When you can do something really good, there is something you cannot do so good.  Take care of that.

Keeping it short today!!!