A Handful of Tips 43 – Starting a Business

A Handful of Tips 43 –

                          Starting a Business

 

Five of the best tips to help you build a new business

 

Success in business is the result of excellence in quality products and services. You need superior  planning, distribution and marketing. Hard work is essential and making a firm profit, crucial.

 

1. Identify a need

 The starting point is to identify a need and aim to fulfill it.

 Do you see any gaps in the market place?

 List all the different services or needs you could supply.

 Research the market. Decide on the best options and aim to fill the gap.

 

2. Gain knowledge and experience

 When you have decided on the type of business you want to pursue, work in a similar area to gain experience in the skills you will need.  

 Seek advice about budgeting, in accounting practices and on ways to obtain start-up finance.  

  

3. Be very professional

 Start modestly with a quality product or service.

Feel your way slowly and learn from your  mistakes.

 Create a good image by giving excellent follow-up service to all your clients and customers.

 Be trustworthy and honest in all your dealings.

 

4. Focus on selective markets

 Find out the habits of your client base and target them with appropriate information.

 If necessary, use an experienced distributor to market your product.

 

5. Advertise effectively

 Favourable publicity and helpful services can reduce the need for much costly advertising.

Network and join organisations to get to know the needs of your potential clients.

Setting up your own business requires energy and hard work. Enjoy the challenge and reap the rewards.

 

-Geoffrey

 

“Word of mouth recommendations

are the cheapest and the best form of advertising.”

 

Sources:  “Secrets for Success. This book could change your life”,  “Secrets for Success” published by Moss Associates Ltd and Cengage Learning Asia. Also available as an e-book from Amazon.com.

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