The Entrepreneur's Cookbook: Essential Measures for Business Success by Shaz Nawaz

Author:Shaz Nawaz
Language: eng
Format: mobi
Publisher: Urbane Publications Limited
Published: 2020-09-23T20:00:00+00:00

Hassan decided he must bite the bullet and instigate a more consistent pricing system in which all customers were paying pro-rata the same fair price based on the service they were receiving, and the goods being delivered. He assumed that by doing so he would lose most of the clients who had been paying lower prices for years, but this turned out not to be the case.

This key change worked extremely well. Profits immediately rose, and Hassan was reassured by the fact that all these clients appreciated what he was offering and stayed with him. Importantly, this started to trigger the desire for change in Hassan’s mindset. He decided to go to a consultant who taught him about how money works, why understanding the numbers is so important in business, and how crucial financial discipline is. Mike also learned about the power of underlying beliefs and attitudes in being able to do all this. Over a period, he began to question his own long-held attitude that money is not a good thing and that making a healthy profit is not a ‘bad’ outcome. Over time he also realised that he had to value himself in order for others to value him. The penny dropped, and he began appreciating himself more. All this enabled him to further the pricing policies he had begun to put in place. The business’s finances improved dramatically.

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