by Mitchelle Uzorka
To succeed in business today, you need to be flexible and have good planning and organizational skills. Many people start a business thinking that they’ll turn on their computers or open their doors and start making money, only to find that making money in a business is much more difficult than they thought.
Here are some of those things you’ll find among the tales of those who achieved success in business (and in life) – which ones do you currently have and which do you need to obtain?
• Be Fearless
Want to know why becoming successful in a business venture is considered such a daunting feat by society? While there are obvious hurdles to face, one of the biggest challenges is in overcoming the fear of jumping into a business in the first place. Most people dream all day about launching a successful business while watching the clock tick at their mundane day jobs. The reason they never quit the security of a paycheck is because they are too scared by the unknown that comes with starting a business. If you want to separate yourself from that crowd, you need to learn how to manage your own fears. Don’t worry, you’re not alone.
• Understand Finance
Now, people all the time will talk about how a well known business brand started at one time in someone’s basement or garage, so much that it’s become a romantic notion of sorts that going from rags-to-riches is what really identifies a true entrepreneur. The reality of most successful businesses ventures couldn’t be farther from the truth – if you want to make it, you’re going to need money. However, that doesn’t necessarily mean you need to have a lot of it when you’re just getting started, but more importantly understanding how finance works and how to use your money to grow in the smartest way.
• Focus on Customer Service
According to a study by NewVoiceMedia, 51% of customers will not repeat business with a company after a bad service experience. Other studies have shown that it takes several positive customer experiences to make up for one negative one.
Given that loyal customers make a much easier sell, make good customer service a priority. Examine your current customer service and make the changes that need to be made to ensure that your small business is providing service superior to that of your competitors. You may need to invest in staff training, revamp your return policy, or make basic improvements such as responding promptly to voicemails or emails from customers.
• Expand Your Marketing Efforts
Effective marketing is key to increasing your sales, but you don’t have to break the bank to promote your business. There are many inexpensive ways to market your products and services, including:
Creating and using a promotion kit
Sending out promotions with your invoices
Joining professional organizations
Involving the newspapers in your grand openings, moves, or charity events
Giving free workshops or classes related to your products or services
• Critical thinking
When you question assumptions, claims, and viewpoints instead of just accepting them as gospel, as in “A Harvard professor said it online, so it must be true,” that’s called critical thinking. It’s fundamental to smart decision making. And that, in turn, is key to being successful at just about anything.
Starting a business requires more than just a great idea.