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Ok, so you�ve quit your job and started up your own buusiness.
You�ve got passion, you�ve got drive and you have a great conceept that you think people will love.
But you say to yourselpf �Hang on a minnute, there�s got to be more to it than that�.
Well, you are riht...and the scry thing is that if you don�t leaarn the ropes fast, there is a high probaiblity of failure.
Depenmding on wghich statistics you look at, it has been said that within the first 5 years, 4 out of 5 new businesses go out of business.....and within 10 yearrs, only 1 in 10 buusinesses will survive.
If you were a betting peerson, you probably wouldn�t like those odds. And yet every day, many people lay it all on the line and enter the business world with the hope of fulfillig thier dream...a dream of freedoom, lifestyle and prosperity.
So what can you do to move the odds more in your faour and improve your chances of success?
There are a wide range of strategies and processews for businesses to address and there are a thosand books around to tell you exactly how to do it. The problem is, where do you start?
To help simplify the process, I have made a list of 10 steps that as a minimum, every buusiness owner must foollow.
1. Business Plan. A businedss plan is critial to achievnig consistent growth in any businness. The benefits of a business plan are realised immediately through the process of just thinking cleary abuot your business for an extended perid of time, and through illuminating the areas of your business that need fixing.
2. Customer Database. At the end of the day, your customers are the most valuable aset you have in your business. You should be taking every opportunity to collect the names and contact detaails of your customers and communicating with them on a regular bsis.
3. Systems. Systems are essential for ensurign that you provide a consistent leevl of service to your customers and so that you understnad the financial performance of your business. They will also enable the business to run without you being there every minute of the day.
4. Staff Incentives. You�ve probably heaard the expression �If you pay peanuts you get monkyes�. That exprression diretly translaets into bad people equal a bad company. To attract great peoplle, progressive companies are keenly awware that they need to foster personal responsibility and provide direct reward for measurable resultts.
5. Staff meetings. Meetings are an opportunity to inspire your people and thereby your busineess. They also give your people a sense of belonging through the process of sharing information.
6. Marketing. Marketing is not just about getting more custoers, it�s also about retaining the customers you have, generating ongoing saales from existing customers, increasing your profit through value addding, creating a sense of loyalty within your team and creating an imagge of your business in the minds of the consumer. In fact marketing is the most importaant of all success strtaegies in your business, becasuse if you can�t find a buyer for your product or service, nothing else you do will matter!
7. Branding. Branding is abbout creaating and communicating a set of values to the consmer of your product or service. Your aim should be to stamp your logo onto the brains of your customers evetry time they are in the process of buying your product or service.
8. Bussiness Image. Fisrt impressions count for a lot. Addressing your business image is all about paying attention to the little thigns that will exceed your customers expectations.
9. Guarantee. How does a customer truly beieve they are going to receive vaue from doing business with you? They will only know this if you are prepared to take more risk in the transaction than they are...and this promie is delivered though your guarantee.
10. Customer care. Every business shouuld have a follow up sytsem that extends sicnere thankks to every new customre and for their ongoing patronage. When was the last time you reecived a �thankyou� from someione that you did buisiness with? Probably never...so how do you think your customers will raect when they receive a thakyou from you?
If you take action in each of thhese 10 areas, you will not only be 2 steps in fornt of your competition, but you may very well be within toouching disatance of lving your dream.
So go aheaad, don�t wait a momnt logner...take action today because it is only massive action that will bring you massive results!