Naz is discussing what is really important in the journey to build wealth. Understanding the impact of consistent marketing and how to accurately calculate the value of your product or service are all elements that are often neglected by business owners but along with reinvention these are and should be the foundations for any successful business.
As the world moves forward Naz explains why diversifying into property can help anyone to build wealth and why ultimately it’s all about seizing the opportunities and creating multiple streams of income.
KEY TAKEAWAYS
Creating multiple streams of income is key to building wealth
Effective marketing is the key to growing a successful business.
Schedule time and consistently focus on marketing your business over a prolonged time frame.
You have to earn the right to get their attention and earn the right to be their advisor and that takes time and work.
People don’t pay enough attention to their pricing structure. They don’t understand the true value of the product or their service
Acquiring a customer is a costly process so when you have a customer or client it’s important to cross-sell and up-sell.
Customers need to know about all the products and services that are available.
Reinvention is very important to make sure you can adapt and use new opportunities.
Being part of a mastermind group and having a coach or mentor is what changes your mindset and provides the opportunity to view your business from a different perspective.
The question of mentors is not about whether you can afford to do it, it’s about whether you can afford not to.
Your coach or mentor needs to be the right fit – with the same values and possibly having taken a similar journey.
Good business owners are quick to adapt and seek out new opportunities.
BEST MOMENTS
‘You should always be looking at how you can solve the problems by looking at it from a different perspective’
‘Always ask yourself ‘am I in the right business?’
‘You should dedicate time every week for marketing’
VALUABLE RESOURCES
shaz@aaa-accountants.co.uk
Entrust Property Tax website
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on:
Facebook
YouTube.
