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BUSINESS 101 WITH FOSTER LEE

I am Foster Lee Brown III the founder and owner of (Focused Energy Consulting). I was born and raised on the south side of Chicago with the dreams of owing my own company, because I felt the biggest aspect of success is being able to focus your energy properly on goals and planning.  If more people were able to do that; it follows that there would be so much more successful people in the world.. This article is dedicated to the do’s and don’ts of business as I see them.

Most importantly for me, first would be establishing a clear goal. As with many things, the most important step is getting specific about what you want and where you see your endeavor going. Secondly you will need to create a projected financial statement and budget. It is perfectly normal to go into some debt when starting a company but you want to be able to see where those loses  are coming from early,  to help you estimate what your future in the business looks like and to keep from spending too much on things that aren’t yielding results. Identifying your strengths and weaknesses is also important so you can start to outsource the things you know you aren’t yet an expert in and perfect the skills you are proficient at. Time is money and you’re going to need to spend it wisely. Identifying with your customers is another key to longevity in business, this way you can know who you are targeting and tweak your strategies and products to match the needs of that market. Lastly but certainly not least, follow through! The only difference between you and who you are inspired by is their ability to do the things they set their mind to, instead of leaving it on their “dream board”. 

Some of the key points I’ve noticed in a failing business are just as important as the ones that made other businesses successful. For starters, complacency is the death of pretty much all things. In an ever changing market, your ability to change and adapt will determine your success. Remove toxic people and unnecessary stress whenever possible. Creating a business is one of the most demanding tasks you’ll ever embark on so you have to make sure the space around you is supportive of your dreams and the people around you or working for you, have the best intentions for you and your company. Lacking a long term company goal and adequate financial planning is a sure way to watch your business crash and burn. Without strong leadership, your business has no backbone and no one to communicate your needs effectively. Communication is probably the biggest determining factor in a business’s success or failure so this quality is not somewhere you want to cut corners. These do’s and don’ts just barely scratch the surface of business so head to www.FocusedEnergy.consulting for more information 

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