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Three Simple Business Lessons

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Existing Clients Rule: Your existing clients are by far the best source of new business and revenue. The amount of time it takes to attract and close a new client is huge in comparison with the immediate opportunities existing clients bring to you. All you have to do is listen and engage them in regular conversations. They really want to hear from you. They expect you to call them and discuss new ideas and potential projects.

Planning Is a Mental Exercise not Real Life: There is no amount of planning that can prepare you for the future. Plans are nothing more than just very well thought out estimates of the future. A good guess at the most. Regardless, planning is essential to getting your head in the game. Just talking through a budget or project plan is very helpful for the team to get on the same page. We recommend planning but don’t get distracted by it and be prepared to change and adapt when things don’t go the way you expected.

It’s The People Stupid: If you are running a business or managing a team you need to spend at least 30% of your time talking, teaching, coaching and supporting your people. Everybody, no matter how smart or self-motivated, needs help and support from the people around them. Get up off your butt and walk around the office. If you have lots of remote workers get on the phone and fly them in from time to time. It’s worth it. Each moment invested in your team will pay you back ten fold.

Author Richard Banfield

As CEO, Richard leads Fresh Tilled Soil’s strategic vision. He’s a mentor at TechStars and BluePrintHealth, an advisor and lecturer at the Boston Startup School, and serves on the executive committees of TEDxBoston, the AdClub’s Edge Conference, and Boston Regional Entrepreneurship Week.

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