*STEPS TO A SUCCESSFUL BIZ. *HOW TO SUCCEED IN YOUR BIZ. *A SIMPLE GUIDE FOR ENTREPRENEURS. *HOW TO MAKE UR BIZ SUCCESSFUL ONE. ...
*STEPS TO A SUCCESSFUL BIZ.
*HOW TO SUCCEED IN YOUR BIZ.
*A SIMPLE GUIDE FOR ENTREPRENEURS.
*HOW TO MAKE UR BIZ SUCCESSFUL ONE.
In this guide, I offer positive and encouraging counsel on some practical steps to be successful in your biz starting from the basics of visioning success and the significance of better financial planning to "nuts and bolts" issues/topics as correct pricing, advertising, etc, I provide the fundamental steps to a successful business.
And even as this guide is good for you, I also remind you of professional business counsellors and you could see them for further advice.
The main purpose of business is to make a profit. Have you ever wondered why new businesses emerge and just overshadow existing businesses?
For instance, someone has made good out of selling fuel and all of a sudden, another fuel business emerges and takes over the market. There must definitely be a couple of secrets to this take over. And those secrets tips are what we are going to learn.
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•Decide To Succeed.
"Success is not something you do once but something you do repeatedly", as Pastor Mensa Otabil puts it, and that starts from your mind to succeed. And every successful business starts with big dreams no matter how small you start. You must have a clear vision of what you ultimately want to achieve.
You must decide to succeed , whatever it takes. And in doing that you must develop attitudes that can help you succeed. It is almost a cliché now that successful people make that decisions quite quickly and reverse such decisions slowly but with less successful people it is the vice versa.
Unfortunate situations are bound to descend but you must keep in mind that you want to be successful so you do not have to run away from good decision too quickly even though the starting steps may be rough.
Strive to let the "I-Can-Do" attitude live. inside of your head rent-free. Do not let circumstances keep you from reaching your goals, rather turn them into stepping stones and you are assured that you will have success as your ultimate prize.
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•Good Fiscal Planning/
•Good Financial Planning & Management
Businesses take good shapes when the owners make good financial plans for their services. Set activities in relation to your financial capacity.
Make a budget that fits your business, listing necessary activities with their "price tags" against them, projecting how much it will cost in a given period of time.
You must also separate your business account from your personal account.
A good financial basics will surely serve as a better management tool for your operations.
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• The Right Product
It is essential to produce goods and services to customers according to the needs of their environment. You do not just jump without looking. Look first, identifying the needs of the targeted customers.
How can you expect to make much income by selling alcohol and cigarettes to a Seventh-Day Adventists community who for religious convictions avoid these merchandise? To make your enterprise come to stay, the needs of the targeted people must be carefully known to you.
Whatever business you are undertaking, ensure that the right services are provided to those who really need them. As the saying goes, "You cannot sell ice to an Eskimo"!
It is always a sure bet that your enterprise will sell when the right needs are meted out to the right consumers. Your business may collapse simply because you are not giving the right commodities.
What will help your business grow? The right product!!
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• Self Discipline.
Self discipline is needed in every field of life for development, so it is especially for businesses to succeed. Personal discipline is of maximum value when spending your money. In life, nothing is more vital to success than self discipline and that can be realized by acting accordingly and modifying the mental picture of your self.
There are people who once acquire some amount of money, want to change their wardrobe, get a new car, etc. (Though good things are not bad any way.) Meanwhile, another group rather pump that money into their businesses to make them even bigger. They then gradually try to change their living conditions.
Which group of people would you want to belong to?
If you really want your business to grow, then instead of gratifying your personal desires, it is very imperative to make your enterprise grow big first. The nature of your expenditure defines your business' future. If do not apart yourself from your business, you might squander all the money from the business.
Try to give yourself a fixed salary out of the business to avoid squandering.
Furthermore, you need to make good savings out of your business as it will definitely serve as a security for tomorrow's hard times.
In a nutshell, businesses grow if we seal the small holes through which money drops by being self disciplined.
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• Advertisements
As a biblical verse goes: "No one lights a lamp and puts it under a bowl; instead it is put on the lampstand, where it gives light for everyone...." This is exactly the same for businesses. Let people know your business. The best advertisement too is the quality of the goods and services - the product must sell itself on the market. It is an undoubtable truth that we need the electronic and print media for advertising but the product must confirm its value.
Not advertising a product or business is equivalent to smiling in the dark - no one will see your smile and smile back. For this rationale, spend money and time to make your enterprise known to the masses, notwithstanding the quality if the products you offer. The products must also affirm the advertisements.
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•The Right Skills
Knowledgeable and skilled labor is vital to any business. One must know and understand what they are doing. You are required to get the necessary skills needed for the type of business you would want to venture. Securing even simple skills can help to monitor what you offer the masses. If you have employees, make sure they understand whatever field they are in.
When you have the right personel you are then giving an advantage to your business over your competitors.
Remember, right skills, right position, right time, right business growth.
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• Good Customer Care.
Your customer care must be "wow!" Make new customers while you satisfy the old ones. Try as much as possible to satisfy your customers and it will in turn bring them back always and possibly bring more people to purchase your products.
If a client is lost through mishandling, do not think, "oh it's just a single person". What if that person has friends who were also patronizing your products?
Also, focus all attentions to customers' needs. Note the maxim: "customers are always right". Unnecessary delays in attending to a customer's needs will eventually lead to loss of sale.
"Customers are always right", so there is no point in arguing needlessly with a customer. To do that will scare away other customers. Know that they are the reason why your business still exists. Try to calm annoyed customers and win them back. Accurate information and courtesy are to be the rights of your customers.
Ensure that products are carefully and nicely presented. Key customers can be provided with little incentives; they can be given discount or deferred payment. Such incentives bring back clients always.
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• Correct Pricing
Do not ever think that overpricing will get you high returns. It will definitely make your clients look for the products from your competitors and eventually shun you. A little difference will mean a lot to your customers. Therefore, pull more consumers by giving reasonable prices and get high turnover.
At the same time, you are not to underprice your goods and services, since the motive of doing business is to make profit. Selling at a loss is equal to you losing out.
Keep records of expenses. This will help set reasonable prices each product. Remember, any big difference in price will affect the business. Set sensible prices abs you are assured that your products will sell.
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• Consult
It is good to seek advice from other colleagues who are in similar businesses. No business succeeds own its own. There will be a little dependency on others. Therefore, connecting with other players is crucial. Try to mingle with successful entrepreneurs and know their "secrets" to success.
People who are successful in life are always getting information on how to up their game and stay on top. They are always up-to-date. Do not be shy to seek a little advice even from your lowest ranked employee. Just try to weigh what the gives you to see if it is sensible enough.
Take advantage of other people in better position than you are, so as to learn some things you didn't know much about or didn't know at all. Think out the box. Consult others and have a fruitful enterprise.
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• Improve
Ensure that your goods and services are of good quality and they evolve all times. You should not be maintaining the status quo in business. Services have to be dynamic. Read the market environment, then draw plans to better your business.
Whenever diving into other projects and it brings money, make sure that profit is used in the <<plough back>> strategy. You may be doing a first business and may want to venture another one. You should not keep all your focus on the new project at the expense of improving the former. Do not be reluctant to invest profit back to make better what is providing you with an income.
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• Compete.
Competitions in business fields nowadays are kind of heated now. And your business dies if you do not strive to thrive. But you need not to fear - not all ! Competition also helps your business to grow big.
Look at this scenario. A fisher folk makes money from his fishing with his net and a dugout canoe
on a lake. Other fishers turned in with their speed boats and modern fishing equipments. With this, the man's business begins to dwindle and eventually packs away his fishing equipments. What do you make of this scenario. You could see the man wasn't ready for any competition.
In fact, you must be ready for whatsoever competition and not forgetting the use of modern technology too for advancement.
Remember others are watching what you are doing. If you do not up your game, it is too likely to meet challengers you cannot beat. The market is full of too many business activities and no single business entity can say it is running this or that business alone.
"The life of every business consists of the birth of the business, its growth, maturity and inevitable decline", as Daniel Chuunga puts it. And to succeed, you must find away to alter the decline phase then let the cycle run again to reach much newer heights.
Be ready sure for competition in business, because it almost rub shoulders or let your business die. If you do not challenge others, others will challenge you!
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• Teamwork
Teamwork amounts to success. Be certain that your employees work as a team. Do not be too bossy. Let your workforce have the feeling that they are a vital part of the business - from position A-Z. Ensure there is enough motivation for the workers. It is crucial to maintain a very good workforce. Say you run an automobile garage. It is vital to keep the workers. If a number of them is lost, they will definitely "steal away" your clients.
As you promote teamwork, have an open-door policy and treat the least worker with a satisfying degree of respect and niceness. Do not let some workers feel they are too inferior to others (though positions must be clearly drawn and known). Even if your relation is a worker in the firm, do not give them exceptional treat. Otherwise the others see it and begin to think you're being bias.
In sports activities, ever player is important and teamwork is needed to them a formidable force. Teamwork amounts to success. Teamwork is key.
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• Be Ready To Take Risks/
• Taking Risks/
• Ready For Risks
Theodore Roosevelt
once said: 'The only man who makes no mistakes is the man who never does anything". It is risky to board cruise liner and float across the faces of the oceans. So it is risky to get on a bus which you do not know the driver's license to operate. Equally risky is going to a restaurant not knowing how the food you've ordered was prepared or who made it. Every activity under the sun is risky!, but, we venture them anyway.
In business ventures you must take risks in order to be successful. There is a saying that goes: "Judge not people who tried but failed, judge rather those who failed to try". You do not need to wait for the smooth way in order to succeed. What if that so-called smooth way never comes? Christopher Columbus would not have discovered the New World if he had not risked the rough conditions of the high seas.
My brother had this T-shirt in which was written: "man cannot discover new oceans unless he has the courage to lose sight of the shore!" Be courageous enough to venture risks.
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• Create Reserve
Do not squander your profit like a 3rd grader who has been given a few cents to buy candies. Make sure you have a reserve for money needed for your financial activities. Some businesses just disappear like vapor because there was no backup at the time needed, but you will surely bounce back if you have reserve funds.
Keep some of your profit for emergencies. You never know when you will be
stroked since life is not and will not be predictable. Having reserve of funds is someway somehow also good for your emotional and mental health. It will prevent you from stressing out when bad times hit.
Remember that only those who save for the unseen circumstances are more likely to thrive through economic challenges.
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• Be Diverse
In every aspect of life, man has to be diverse. And business enterprises are no exception. It is not sensible to waste your resources on only one product or service. You must try to provide other goods and services that are may be related to the existing ones. For example, if you are into computer retailing, you can add headphones, compact disks, projectors, etc. Or if your field is agro-farming, you can add livestock to it. It will even reduce your cost drastically. You will get manure the farm and greeneries as feed for the animals.
Some people focus too much on a single type of job line and what happens when that business threatens to die? You guess is as good as mine. Diversify your operations so that if your engine stops in one area, you can survive with the other(s).
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• Monitoring
Good control measures help flourish businesses. You must see to it that everything is moving on quite well. Periodic checks is a good remedy for solving certain problems.
Carrying out even simple bookkeeping procedures can determine the financial direction of your enterprise.
Profit and loss accounting will help you ascertain your desired financial position.
Monitor the activities of the venture and find out your liabilities.
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• Public Relations
It is necessary also to create sound relationship with the suppliers of the raw materials for goods and services. When your suppliers begin to have trust in you, they may give you a more flexible payment plan and might enjoy discounts as well. Try to get close to some of the big guys in your suppliers' company. Doing this may lead to your other partners offering you services within the circle of business.
You must also employ skilled public relations personnel to build a good relationship between your business and your customers or even suppliers.
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• Work Hard
Unwillingness to move out of our comfort zone will never bring us the success we desire. Move out, all in all, and tackle the job at hand. Hard work will lead your way to success.
If you want to gain much success you must be ready to put in much effort too. You cannot just sit around lazily and expect good results. No! You must work for it. In some firms, the word "deadline" meant literally. Its meaning is "don't complete before the line and you are dead". If you miss deadline, you miss incentive, next assignment, etc. And this will make everybody work diligently in such a firm.
If you are lazy, you will not succeed until you change you lifestyle.
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• Honesty For Success.
Honesty must be key in all your endeavors for a living. In business transaction, high level of integrity is very much expected. Some business people try to use "false" means to scrap money from clients. And when they are caught, their business is lowered to the dust. Nobody would wish to let that happen to their business, thus the need to be honest.
Strict ethics must be followed for the business to grow. As a business person, you must be trustworthy. Transparency must be your policy, proper procedures should be followed carefully. Refuse bribes. Pay wages promptly, water bill,electricity and others must paid promptly even if you are not reminded by those service providers.
Have a smart business ming with morals.
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