Would you like to run your own small business?
Have you an idea for a small business but do not think that you can make it
work?
Have you required the skills needed to run a small business?
I will share with you 17 tips
that people need to possess to be able to successfully run a
small business.
1- Put your
ideas into writing
It is important to take the ideas in your head and get them down on
paper.
2- Meet with
your local Small Business Development Center
They can help you to create a stellar business plan to approach a lender
with and their counseling is always free.
3- Identify your customer base
In your business plan you need to identify who you think will buy your
product or service
4- Outline your finances
In your business plan you need to address key questions about your
business's fiduciary situation
5- Project growth
All successful small businesses need to grow their customer base and
production capabilities over the first few years of operating. Make sure you
have identified how your business can and will respond to growth potential?
6- make your bank work for you
Run your small business with financial efficiency by exploring all
the options that banks offer small business owners and choosing the right bank
for your business's financial plan
7- Secure a loan or other type
of investment
Be sure to investigate the
various interest rates that apply to small business loans
8- Manage your inventory
efficiently
Inventory management can
make or break a small retail business, so manage it carefully to ensure that
you're maximizing every dollar spent
9- Consider hiring a financial
professional
It may be fiscally
worthwhile for you to hire a dedicated staff member who can control the
financial affairs of your small business
10- Get your license
Remember to register and
acquire your small business license in the particular industry of your business
11- Stay organized
Organizing your
time with employee finances and inventory is one of the keys to successfully
running a small business
12- Delegate responsibilities
You can't do everything
yourself, so delegate the various jobs and responsibilities to qualified
employees
13- Employ targeted
promotional and marketing campaigns
It is important to get
the word out about your company, make sure the money you set aside for
marketing is well spent by conducting demographic research
14- Network as much as
possible
Gain support from other local
small businesses by networking with other small business owners
15- Offer references
Compiled a list of satisfied
clients that are willing to serve as references to potential clients, this will
give future customers the ability to verify your work and
customer service
16- Be accessible
Make sure potential
clients and customers can get in touch with you and your business whenever they
may need to
17- Deliver what you promised
If you want to grow your
business by growing your customer base, you have to give people not only what
they want, but what you promised them at last I want to share one great quote:
Successful people aren't born
that way they become successful by establishing the habits of doing things that
unsuccessful people don't like to do; the successful people don't always like
these things themselves they just get on and do them
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