For all your online business building info! , 2020-09-27 11:08:30
Getting Past Your Business Start-up
Starting a business from the ground-up isn’t easy. If it were easy, everybody would do it. One of the hardest parts of running a new business is getting your business beyond the start-up phase. Below you’ll find twelve tips to help you keep your business going well beyond the start-up phase.
1. Hire only the Best
People build companies, so make sure that you only hire the best people. Don’t settle for the best out of a bad bunch. Sure the best may cost a more, but good people will help you build a successful and profitable company.
2. Have urgency in everything you do
A lot of business owners want to treat their business after the hectic start-up phase as a nine-to-five job. You can’t do this. If you want the business to grow you have to put in the time. Always do everything you can today, don’t put it of too tomorrow.
3. Repeat Customers
The road to profitability is through repeat business. Your business will only grow if you add regular new customers on top of existing regular customers. So try to do everything you can to keep regular customers satisfied.
4. Make Quick Decisions
Companies can’t stand still, they need to adapt or die! This is especially true for new businesses. So don’t take to much time to make your business decisions. Sometimes it’s even better to lose some money, but still moving on than standing still.
5. Over Deliver
Always try to deliver more than you promised. If you tell a customer that you do it in 6 days, deliver in 5 days. You can do the same with products or services. Over deliver if the best and cheapest form of marketing.
6. Price yourself for profit
If your business is small than you should never be the cheapest. Large companies can make up in volume what they lack in margin. Small businesses can’t do this.
Never spend a dollar you don’t have to. Many beginning business owners think that they have to spend a lot of money on for example new office furniture, because they think that image is very important. Sure image is important, but cheap office furniture can also look good! The money you save can be used to do help your business to make more profit.
8. Big Vision
Aim for the stars should be you motto! Building a business is a ten-year plan, not a one-year plan, so you have the time to realize your big visions.
9. On Marketing
Spending a lot of money on image or brand advertising doesn’t make sense when you’re business is not yet profitable. Also never let an advertising sales rep teach you anything about marketing. They are talking to you because they want to sell ads, remember that! Besides that, you know what a good ad is. You don’t need an advertising sales rep for that. A good ad will make its money back in profit.
10. Learn to Sell
There’s nothing worse than a business owner who isn’t willing to sell or even want to learn to sell. Don’t rely on someone you hire to do the selling for you. If you want a growing profitable business, you need to learn how to make a sale.
11. Simpler than you think
A lot of people make things very complex (than it really is.) They over-complicate the process of doing business. Doing business is very simple: Sell at a profit! If your business seems too complex than it probably is.
12. Never bet the ranch on one deal
If you are new entrepreneur then you’ve a lot to learn, so in the beginning you’ll make mistakes. This is no problem, because mistakes will teach you valuable lessons. Just try to make them small ones at the start. Don’t make one huge mistake that will cost you your business!
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