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    You need certain plans, strategies and feasibility study for your business if want your business to be at top of the Market.


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    Offer what people want to buy, not just what you want to sell. ...
    Get cash flowing ASAP. ...
    Always find new ways to keep costs low. ...
    When planning, always overestimate expenses and underestimate revenues. ...
    Focus on sales and marketing manically. ...
    Find ways to exponentially increase profits. ...
    Test and measure everything.


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    #63
    Join Date
    May 2017
    Location
    London, E14 8RJ United Kingdom
    Posts
    67
    Business is like a game of gambling where there are ups and down , isn't it. But creating a successful firm is a bit daunting task yet not an impossible one. For that it requires a proper planning and a right decision at a right time. For attaining success there is a dire need to manage the task properly. The first thing that one should understand in order to run a successful business is he must know how to invest in marketing.


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    Argh ... I hate it when this happens. Anyway, I've already written something - but it did not go through when the my computer hanged.

    Anyway, I was saying that I agree that people do not really realize how hard it is to start a business. It will take a lot of capital, discipline and patience.

    For capital, when you think that you've thought the numbers through and your investment will hold, you will realize that you are then patting your pockets to find more money. Especially when it comes to collections, you will realize that collecting money from customers or clients can be very tricky.

    Next, discipline. You will have a slow start and you should be discipline enough to keep going and stay focused. It is related to the third, patience. You need to keep going forward and not to lose patience.


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    Re: How to have a successful business
    There comes the do's and don't s with every business one will step into. So, It only makes sense to possess every knowledge of the business you are into. Though one must always be ready for all the highs and lows being in a business but if done smartly and with all the correct knowledge of the business, one can get along with the same.


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    Quote Originally Posted by fredkawig View Post
    Businesses can be one of the most self-sustaining forms of employment to the worst kind of choice to make and end up in bankruptcy. It's just a matter of planning, perseverance, good choices and patience. In order to succeed in the entrepreneurial world, one must know how to manage a business and correctly make the right decisions in order for one's business to prosper.

    The first thing that one must consider is capital. Capital is the amount of money that you want to invest in starting your own business. This is the money which you let go and the money you risk in order for you to start earning income. The amount of capital varies from one type of business to the other. For small scale businesses, sole proprietorships, you only need to invest a small amount of capital. For partnerships, big scale businesses and even corporate businesses, huge amount of capital is needed.

    Now that you have capital, choosing the right kind of business is next. In this step, you must have a very good grasp or knowledge and should be very interested in the business that you plan to open. If you are not interested and your heart is not up for it, your business would likely fail. You must also have a vast knowledge of the technicalities and problems that may arise from your business and have the ability to troubleshoot and deal with the problems.

    The next thing that you should have in starting and maintaining your business is patience. An instructor of mine told us before that the first year of business would most likely be a deficit. Do not expect to yield profits at the very start of your business practice, but if it does then that would mean that your business has hit a niche in the populace and would most likely be very profitable. Continue to be patient and persevere in every situation, through good or bad times and you will see the prosperity that it would bring. And lastly, always thank the Lord your God for only through his grace, blessings and favor will you be able to succeed not just in your business but in your life as well.
    Success in a business is a never ending process. You need to be progressive on continuous basis.
    Generally, success in business means achieving goals set by you. If you are performing some activities and it is going in a right direction, then that means the success of a business. I would say the biggest and most important tip for any small business, especially a start up company, is to take advantage of time and make the most efficient use of it. People do not realize the effort that goes into a successful small business, and sometimes it is difficult to keep everything organized. I do have an app that could help any small business prioritize, determine what needs to be done first. This software controls all steps (like ordering and shipping goods), inventory levels and warehousing. You could check it out here http://www.meadewillis.com/. Just make the most of your time and bring your small business to the next level.


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    The one thing new entrepreneurs foul up isn't arranging their capital well, at that point having the eatery flop rapidly.


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