Gumbo Business: 10 Lessons learned doing business in new orleans
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This document provides 10 lessons for running a successful business in New Orleans. It emphasizes the importance of positive cash flow, being prepared for hurricanes using technology, delegating tasks to avoid being overwhelmed, engaging with customers to understand their needs, providing excellent customer service, carefully selecting reliable vendors, treating employees well to build a strong team, giving back to the community for good marketing, regularly changing marketing strategies, and understanding business cycles to endure downturns.
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How AI is Disrupting Service Industry More Than Design Thinking
Artificial Intelligence (AI) and Design Thinking are two powerful tools that, when used together, can revolutionize the service industry. By combining these approaches, businesses can develop innovative solutions that enhance customer experience, increase efficiency, and drive growth. Here's how AI and Design Thinking are disrupting the service industry
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How AI is Disrupting Service Industry More Than Design Thinking
How AI is Disrupting Service Industry More Than Design Thinking
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Gumbo Business: 10 Lessons learned doing business in new orleans
- 1. Gumbo Business:10Lessons learned doing business in New Orleans
- 2. 1.Cashflow is KING Positive cash flow can earn youmoney, loans cancostyou money
- 3. 2.Make your business hurricaneproof using technology (i.e. digital copies of all documentation,remote data backup, etc.)
- 4. 3. You need not be clearingmassive profits in order tooutsource tedious tasks. Theamount of time you lose trying todo everything is much greaterthan the cost of outsourcing. Learn to delegate.
- 5. 4.Ask questions to yourcustomers, be curious. Strive to serve their needs and be flexible enough to adapt to changing needs. New Orleanians are verytalkative. Engage your customers and they will reward you
- 6. 5. Customer service will never be a lost art and no business has ever lost profit by being good to their clients
- 7. 6.Pick your vendors carefully. Your business is only as good as your weakest supplier. If a vendordrops the ball (on something avoidable) move on. There are plenty of hungry vendors waiting for the opportunity to win your business. Always have a back-up ready.=
- 8. 7. Take good care of your employees. Let them know that you trust them to carry the baton and you will build a strong team of people who care about the big picture.Good business equals job securityand bonuses.
- 9. 8.Sometimes the best marketing is done by giving back to the community. The spirit of community is valued in New Orleans and consumers want to shop with community-conscious businesses.
- 10. 9. Change up your marketing every now and then. Be sure to record what works and what doesn’t.
- 11. 10.Understand business cyclesWhile there is no crystal ball thataccurately predicts the future,small business owners should be able to endure the worst of times,and position themselves for success when conditions inevitably improve.
- 12. www.mogoventures.cominfo@mogoventures.comFacebook: mogo-venturesYour small business problem solvers