Dec 26, 2016 10:14 AM EST

Startup Tips and Tricks From The Greatest Entrepreneur of All Time: Santa Claus

Santa Claus can arguably be declared as one of the best owners of a business. His branding has taken off, and his toy empire has been running for as long as people can remember. No one knows how Santa Claus pays for his materials and the entire operation. However, other people who are running a startup business or are considering jumping into one could learn a trick or two from him.

Rhonda Abrams of app.com had a good idea of talking to Santa Claus so that he can offer advice to those who are into startup businesses. Santa Claus discussed the things that startup owners should do in order to ensure the success of their enterprise.

Santa Claus advised entrepreneurs to start small if they are venturing into an unknown area. He shared how he got the advice from Mrs. Claus, who told him that starting a delivery that covers each and every child in the world would be too much. The husband-and-wife duo then decided to start with the good children who believe in Christmas. For those who are ready to expand, Jobs & Hire previously carried a report about scaling up startup businesses.

Part of starting small is limiting your product or service to the simple one that you can easily offer to consumers. Thinking about all the things you can sell to people is good as it would add to your focus. However, Santa Claus advised not to start selling products or services if you would have a tough time procuring materials. Work with what you have.

Creating a business plan is also a must-do. All owners of business, startups or otherwise, should know where they want the business to go and what they want to achieve in putting up their businesses. There should be both short-term and long-term plans.

Along with the business plan, business owners should also have budget plans. They need to know where they are spending too much cash and what they can do to limit that or reallocate that to other projects.

Santa Claus also shared that business owners should think about how to best help the environment on top of getting rich. He also advised that entrepreneurs and business owners should not be afraid of asking for other people's help whenever needed.

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