Are you trying to start a business , here are a few things you should know . In no particular order, these are the few things that need to inculcate in order to have a successful business ;
1) Originality
There's a popular saying among people that goes, " There's no such thing as an original idea " . While I would say it is partially true , I would also say it is a wrong philosophy for a business personality .
Why ? Simple ,the fact that you're not the first to start that particular kind of business does not mean you should do it like the rest .
You need to be original to stand out , you need to Brand your business .
Your products and services must be distinct .
2) Passion
Passion is the most important trait every business man must have . Money is the goal , but usually at the start up of a business there might not be as much money as you may have anticipated. This is where passion comes in , passion keeps you going . Because you love what you do , when things get tough and it looks like the business is failing , instead of quitting .You'll look for better ways to improve your services and attract customers.
3) Avoid Giving Services On Credit
Many businesses have failed as a result of bad debts. Never , I repeat ,never start your business on credit. In order for you to expand your business, you need to make profit which you cannot do if you give out credit at the start-up.
On the long-run , you can start rendering services on credit in order to help only reliable customers (note : only reliable customers should have access to your credit facilities).
3) Know your Market
This just simply has to do with research . There's a lot of research needed at the start up and course of a business. You need to know your market , know what the consumers want and always have a target.
For example , your product is for children. You need to find a way to make adults want to buy your products for their kids and at the same ,make the children want your product even without a trial.
You also need lessons on how to properly advertise and find avenues for making profit. Even when passion is involved , you need to be sure that the business will have a great turnover (the amount of money taken as sales transacted in a calendar year) . You can take online courses to better your business knowledge .
4 )Customer Service
This is virtually the most important feature of a business , customer service. You need to have quality customer services , rude and nonchalant responses to your buyers may chase away your customers . You need to be polite and cheerful when attending to your customers , compliment them , show care but don't get too intimate with your customers. Never mix business with pleasure .In short , good response towards your customers helps them remain loyal to you.
5 ) Accountability
The secret of success , accountability. Every kobo going in/out of your business must be accountable for. It is good to keep track of your expenses and sales turnover ,that way you don't incur losses and if you do ,with a sophisticated accounting system you will be able to solve them.
Accounting terms help to give a better understanding on how to manage your book keeping ,therefore it is best you buy books on easy accounting or take online courses.
6) Discipline
Discipline is the key to continuity , you need to be constant in your service to people. Your products and services should not decline in quality , neither should your price(s) lack uniformity . An undisciplined business person will lead his business to fail , always have this in mind at all times
I hope this article was of help to you , if need any more information or further explanation .Email me at Aikenheart123@gmail.com .Don't forget to leave a comment. Thank you for reading.
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