NM – niche market
QL – quality leads
AS – automated system (to generate and process leads)
PP - people power (reduce as much as possible – i.e., try with less staff)
QP - quality product
BPM - big profit margin
LO - low overheads
RR - reduce risk
RP - repeat business
WN - what’s next
BP - big profit
EH -eternal happiness
square 2 – are two additional components that can multiply profits and happiness – no 1 is understanding sales and marketing and no 2 your attitude

It all sounds really simple but I thought is a great way to look at any business plan or idea. Also, Jonathan gave many real examples for all the acronyms above.

I’ve decided to improve his formula to make it mathematically correct.

Another speaker I went to see was Jeremy Martin, co-founder of the brand For Goodness Shakes. He delivered extremely interesting presentation proving that any brand can be successfully promoted with a little budget.

You can find out more about the seminar on the Business Startup website.