It is often said that 'Riches are all ideas'. Every existing business comes out of an idea. Ideas are what turn problems,needs and desires into money making opportunities.
Business success is often attributed to the business idea and this comes from our environment, daily encounters and new knowledge.
Not every business idea yield success.it must be attractive and packaged into a products and services,and add value to the customer because no customer buys a product or services that add no value to them.
As an entrepreneur, I have had my fair experience of starting an enterprise and to help you,here are the essential factors that guarantee success in business.
- Demand
This is knowing the market needs of your customers.offer people what they want,not what you want to sell.
- Personal skills and experiences
The background of every successful business comes from skills and experience. Be knowledgeable in your business area because it helps in achieving success.
- Overcoming fear
Fear is a natural thing and most entrepreneur are gripped with fear about the hurdles and challenges they will have to overcome.
To succeed in business,you have to separate yourself from fear,learn how to manage and channel it.
I was faced with feqr when I was making the decision about quiting my day job and going into business.
I was faced with feqr when I was making the decision about quiting my day job and going into business.
Overcoming fear is the birth of a successful business.
- Hobbies and interest
Your business should be targeted to products and services you have interest in.
Many entrepreneurs make the mistake of venturing into a business because a friend is doing well but later see themselves sinking.
- Managing your finance well
This is a good principle to a successful business. Avoid unnecessary expenses.
In fact I advise young entrepreneurs to buy fairly used furniture's when starting their business.
- Device a good sales and marketing techniques
As an entrepreneur, find new and strategic ways of marketing and distributing your products.
This will help keep you ahead of the game because no business is good without sales.
- Knowing your competitors
Knowing your competitors,find out ways to package your products and servuces to make you different from them.
- Get your capital flowing
Capital is the lifeblood of every business. Make your capital available or source for loan in any flexible agency if your capital is not sufficient.
Conclusion
Success is not an over night thing. Starting and running a successful business can be rewarding and challenging. Success requires focus, discipline and perseverance.
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