Maverick Rules To Business

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Yanik Silver, a very successful entrepreneur recently came out with his "maverick" program for business owners.

He put forth 34 guiding rules for business management and success.

And I must say it was a great list! It’s sooo good I even had it printed out for my reference.

So here it is in it’s entirety. I’m sure you will take away something from this as I have.

Enjoy!

1. It’s got to be a BIG idea that you, your team and your customers can "get" in seconds.

2. Strive to create 10x — 100x in value for any price you charge. Your rewards are always proportionate to the value you provide.

3. You must charge a premium price so you have a large margin to provide an extraordinary value & experience.

4. Provide a ‘Reason Why’ customers should do business with you and pay you a premium.

5. Get paid before you deliver your product or service. And when possible figure out how to create recurring revenue from transactions.

6. You get to make the rules for your business. Don’t let industry norms dictate how you’ll work or who you’ll work with.

7. Create your business around your life instead of settling for your life around your business.

8. Consistently and constantly force yourself to focus on the ‘critically few’ proactive activities that produce exponential results. Don’t get caught up in minutia & bullshit.

9. Seek to minimize start-up risk but have maximum upside potential.

10. Get your idea out there as fast as possible even if it’s not quite ready by setting must-hit deadlines. Let the market tell you if you have a winner or not. If not — move on and fail forward fast! If it’s got potential — then you can make it better.

11. Find partners and team members who are strong where you are weak and appreciate being paid on results.

12. Your reputation always counts. Honor your obligations and agreements.

13. Never, ever get paid based on hours worked.

14. Leverage your marketing activities exponentially by using direct response methods and testing.

15. Measure and track your marketing so you know what’s working and what’s not.

16. Bootstrap. Having too much capital leads to incredible waste and doing things using conventional means.

17. Your partners and employees actions are their true core — not what they tell you.

18. Keep asking the right questions to come up with innovative solutions. "How?", "What?", "Where?", "Who Else?" & "Why?" open up possibilities.

19. You’ll never have a perfect business and you’ll never be totally "done". Deal with it.

20. Focus most of your time on your core strengths and less time working in areas you suck at.

21. Make it easier for customers to buy by taking away the risk of the transaction by guaranteeing what you do in a meaningful way.

22. Always have something else to sell (via upsell, cross-sell, follow-up offer, etc) whenever a transaction takes place. The hottest buyer in the world is one who just gave you money.

23. Always go back to your existing customers with exceptional offers and reasons they should give you more money. It’s 5x less expensive to sell to happy customers than go find new ones.

24. However the flip side is - fire your most annoying customers. They’ll be replaced with the right ones.

25. The marketplace and competitors are always trying to beat you down to a commodity. Don’t let that happen.

26. Develop and build your business’s personality that stands out. People want to buy from people.

27. Create your own category so you can be first in the consumer’s mind.

28. Go the opposite direction competitors are headed — you’ll stand out.

29. Mastermind and collaborate with other smart entrepreneurs if they have futures that are even bigger than their present.

30. Celebrate your victories. It’s too easy to simply move on to your next goal without acknowledging and appreciating the ‘win’.

31. Make your business AND doing business with you FUN!

32. Do the unexpected before and after anything goes wrong so customers are compelled to ’share your story’.

33. Get a life! Business and making money are important but your life is the sum total of your experiences. Go out and create experiences & adventures so you can come back renewed and inspired for your next big thing.

34. Give back! Commit to taking a % of your company’s sales and make a difference. If this becomes a habit like brushing your teeth pretty soon the big checks with lots of zeros won’t be scary to write. If you think you can’t donate a percentage of your sales simply raise your price.

Any thoughts?

Let me know what you think.

Tags: Online Marketing, Marketing, E-MoneyMarketing, Business

Yes. Very helpful list. I must say that it pays to be innovative but it is also very important to follow-up and persevere. A good idea is nothing if not you don’t act on it.

Agents of Values last blog post..Outsource Domain Registration and Management

The final answer is a big one today. People do not feel as guilty buying things when they know part of the money goes to a good cause. I think Target is really good at this. I noticed that this Christmas lots of their gifts will give a percentage to the Childrens Miracle Network and this makes people feel good about the purchase.

Tracy - Massage Chairs last blog post..Customizing Massage Chair Rollers For The Best Massage

Those are some good ideas. Especially the one about firing your worst customers. It might not be easy for you to do but totally worth it.

Simons last blog post..Best DVD Burning Software

Great list of tips here..I recently started a small business and found the downfalls associated with not following several of these!

Dirt Cheap Airline Ticketss last blog post..Helpful Tips for Your Cruise Vacation

Getting paid ahead of time is something I need to work on. I’m too broke to carry everyone else’s success that I’m helping to create! Good reminder.

Dear jag foo, Your post is so nice and helpful for people like me who is in business. I noticed your all points and applied upom myself. These tips will help a lot to become A good entrepreneur in the business.

@ Tracy:

Yep. Give back. And you will receive more.

@ Simon:

Some customers are just a pain in the ass. Over-demanding, unreasonable. What do you do? Fire them!

@ Jennifer:

You can try to get an upfront partial payment - say 30-50%? Or you can propose being paid on milestones being hit. Definitely do not wait for the whole thing to be done before being paid.

Jag

Number 5 it’s a crucial point: Get paid before you deliver, if there is just one point to follow, i think it’s this one!

What a great post. I’d disagree with point 13 though - as long as you aren’t doing the work (i.e. can hire an employee to do it) then it doesn’t matter if you’re being paid by the hour.

Thanks for the list! Really useful!

Roger Hamiltons last blog post..Start Blogging Today with XL!

“Get paid before you deliver” And pay after they deliver to you :)

Those are some great rules. Any business owner can benefit from them. You don’t need to be a start up or entrepreneur. I work at a truck dealership, hence the name, and we can modify some of the rules to work for us.

Isuzu Nprs last blog post..Buy a Used Isuzu Npr Truck– Now!

Excellent Article there. Keep the good work up…

Great post here. I enjoyed reading.What you said is true. Thanks!

cyrus jays last blog post..Learn to ski (Chapter 2 - The dynamic basic position)

That was a cool & informative list.Really liked some of them a lot.But the main thing that needs to be taken care in a business is that till the time you’ll be offering the best, u’ll be getting back the best in terms of customer, sales & profit.Its a 2 way process.

This is great and thanks for sharing it with us. I greatly enjoyed looking through the topic and found it very informative one for people like me. I Would like to know more on these topics. It is a terrific eye-opener.

I read that entire list, and I was very pleased with it. All of those tips are practical, applicable, and valuable, and I can see why you printed it out. Maybe I will too!

Those are nice and the most common thing is almost every business man have same kind of rules who are really successful.

I disagree with the above remark. I think in these tough economic times we need to rethink our old ways of thinking.

Great Website. I believe in what you are writing. Keep up the great work my friend! ^-^