Saturday, March 5, 2016

3 Important Factors That Determine Business Success

1. Do Your Home work

The more you know about your business, the better your chances of success.

Attend seminars and join trade associations.




Read books and trade publications.

If you do not have a business background a business introductory class at a local college would be advisable.







2.  Planning is Key to Your Success

You and your family's future and livelihood is at stake.

So your decision and planning to start a business are very serious matter.

Establish a long range plan which encompasses your business and financial plans.

You should obtain legal or financial advice from an attorney or accountant before committing to nay long range or major financial transactions.

Agreements with suppliers or customers should be put into writing.

3. You Must Wear Many Hats

Small business owners over time can become experts on a variety of subjects.

At the start the most important aspect is the mind-set.

Your communication to the rest of the world through all available means will determine your success.

here is an abbreviated marketing check list:

Telephone

Promotional Material

Advertising (Don't forge the Yellow Pages)

Direct Mail

Membership in Organizations

Direct Sales

Invest in Good Equipment

The right equipment will make your work easier and your business more efficient.

To conserve cash used equipment should also be considered.

So What Are Your Chances

The better you think they are the better they generally are, and don't forget that among thousands of others:

Apple Computer, Domino's Pizza, and Walt Disney all started as home-based businesses.

Resources/Associations

There is a great deal of expert advice and resource material available to you. Much of it is free of charge.

 A variety of literature is available, both excellent books on all business subjects and various magazines.

Your local Chamber of Commerce often sponsors classes.

 Banks can give you advice, or can be used as a sounding board. Local schools offer a variety of classes of interest to business owners.

Don't forget the Public Library. Last, but not least, don't forget the Government.

SBA (small Business Administration) offers a range of services such as loans, financial consulting, computer and technical consulting services and a variety of publications.

Check your local telephone pages.

Better Business Bureau (BBB) The BBB can be an important ally in checking on potential suppliers and other businesses.

 Check for telephone listing in the city where the company you are checking on is located.

Have a wonderful day.

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