Starting a business is nowadays very easy and can be done in a few simple steps. The big challenge is to turn it into a profitable business.
Things to consider
1. What makes your business unique? Why should potential clients buy from you and not from your competitors? What are the values your business follows? Is your brand recognizable?
2. Current clients. Those who succeed in business place similar or even bigger attention to their current clients needs than to new potential clients.
3. The main goal. Your main goal should be concentrating on what the clients really want and give it to them, delivering at the same time the best value rather than concentrating on your own needs and desires. If you just want to get rich and this is the reason why you do business you are on the way to failure.
4. Test and improvement. It’s also important to always test, verify and improve what you do, the products and services you offer. „To do the right things and not the things right” Peter Drucker.
In the below video Simon Sinek z Ted.com develops the topic of successful business.
From the video you will find out:
- how can small change in product description dramatically increase the profit,;
- why and how a small unknown company changed perception of people and became market leader in its industry,
- how is the society divided regarding consumption choices they make.
What about you?
Is your business profitable? What is your business strategy?