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9 Tips of Staying Successful in Your Business | Whats-online.info

9 Tips of Staying Successful in Your Business

2016:08:21 / Business

Starting a business is one thing, and maintaining it is an entirely different issue. All that reads in the mind of an entrepreneur is having a successful business

9 Tips of Staying Successful in Your Business

Starting a business is one thing, and maintaining it is an entirely different issue. All that reads in the mind of an entrepreneur is making more and more profits. An entrepreneur is not only a risk taker but also a disciplined person. These tips will help a business stay in line and successful for a long time while still making profits.


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•    Books of Records- a business without books of records is a blind one. The owner should be in a position to know the amount of money getting into the business, the amount made on a daily basis, and any other miscellaneous expenses that are incurred. With that, the business owner is in a position to make an exact account of the business progress.

•    Know your competitors- we get lessons from our competitors on a daily basis. Get closer to them, and get to know what is that they do differently to succeed. Since you are in business to progress, understand their weakness and use them to your advantage. Do their customers leave unsatisfied? Do they respond slowly to customers complaints? Use those weaknesses to build your brand.

•    Narrow down your infrastructure- on your initial stages, you certainly do not require a fancy office with expensive desks and chairs and lots of staff. Do not make the mistake of prioritizing comfort. Understand the basics, know what you need and what to do away with. Cut costs as much as possible.

•    Utilize the Internet- this is where the clients are. It is crucial to learn how to effectively market your business online . With almost everyone having access to social media, it is highly likely that selling your business on Facebook, Twitter, Instagram and other social media sites will help a great deal. All you need to do is identify your unique selling points and maximize them.

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•    Maintain existing customers- in as much as you need new clients each day; the existing customers are just as important as the new ones. Clients need to be followed up and made aware of new products/ items. Understand on how to balance on obtaining new customers as well as retaining existing ones.

•    Stick to your initial plan- when laying down the business; you had a plan of activities right? Now that it is up and running stick to that plan. With business comes lots of surprises. Whether in good or in bad conditions, stick to the initial plan.  It will prevent you from making decisions in an unstable state of mind.

•    Strike a balance between injections and withdraws- some business owners get all mixed up along the way. It is important for an entrepreneur to weigh what comes regarding sales, and what goes out regarding buying more stock. Do not buy more stock when the sales aren’t good, and don’t allow customers leave your premises without what they wanted because it ran out.

•    Offer discounts where possible- customers love discounts. Well, I do. Discounts do boost your sales and attract more clients. Of importance to note though is the timing. Do not do it when your competitors are doing it. Get your own convenient time. Make sure you gain more from the deal.

•    Learn from others- make friends with people who have already been in the business, unless it is an original idea. These people know the dos and the don’ts of the business, understand the dynamics of that field and come with lots of good advice. Make full use of that.

Congratulations on your venture. The fact that you took the risk and started a business means you are an active person. Have fun doing it, stick out of your comfort zone, be successful, and explore new opportunities. Got additional tips, be free to post them in the comments section below.  

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