To create and run a successful business that is profitable is not for the faint of heart. There are reports that said that between 57% - 60% of small business will fail within the first 90 days, so the numbers are not in your favour either. Here are five key areas to focus on when you're building your business for success:
1. Become very clear about your business.
When you have a clear goal for your business, it is very easy to spot strength, weaknesses, opportunities and threat that will grow your business.
2. Select your niche market.
To achieve success is impossible unless you understand your customer. I recommend doing some in-depth research about your ideal consumer. What do they do? Where do they spend their time out? Where do they hang out online? What are their current wants and needs both personally and professionally?
3. Create marketing strategies.
Marketing is really a term for many small parts of the equation. Marketing involves your product, your price, your promotions and even the way you package your products and the place you market your product.
4. Find a mentor.
A mentor can be someone that you know personally or someone you've never even met before. Your mentor can be your parents or even your spouse. The mentors are to advice you on how you can make things work out and they equally challenge you to produce the desire results within the shortest time possible.
5. Evaluating your activities.
Above all, take time to review your business activities from time to time, compare your plans with the actual and carry out necessary control.
No comments:
Post a Comment