Are you about to start your own business? Have you always
dreamed of being an entrepreneur? Having
a product or service that meets a market demand is the foundation for a
business. A successful and thriving business follows tried and true business
principals. Follow these recommendations from professional entrepreneurs to
ensure your business is a continuing success.
From product development, sales, production, operations and
product delivery, new business owners have their hands full. You truly have to
be a jack of all trades to open a business. Knowing your weaknesses is actually
a strong suit. Barter, find a mentor and outsource those big picture items that
you’re unable to complete flying solo.
After you’ve tested the market with your product or service,
determined that it’s not only priced to sell, but that your costs are covered
and you have a profit margin, it’s time to identify and secure clients. The
more clients the more business will grow. These are the growing pains for new
businesses. While you want to secure more clients, keeping your delivery
promises is an ever increasing challenge. Never promise what you can’t deliver.
Your reputation is critical for attracting new clients and retaining existing
clients.
Purchase a financial software package as well as production
software. Most small business software
packages come with basic marketing template that can be customized for your
business. Take advantage of the deals offered by Groupon and order
sufficient checks from Deluxe to make
payments to vendors. Be that customer that pays on time.
As business begins to grow, hire the additional staff needed
to not only fulfill existing commitments but also those that will be made when
your sales efforts result in more clients and more business. Growing a business
is a bumpy road. Some refer to it as a constant balancing act. You’ll be working
many hours the first few years. Continuously evaluate your internal needs as
well as your marketing and sales plans.
Best of luck to you as you launch your dream business. May you have many
years of success!
