Five Tips Friday: Success in entrepreneurship requires a diversity of talents, a broad range of knowledge, a passion to succeed and an attitude that says I can do it! Nothing less will suffice. 1. MAKE MONEY DOING WHAT YOU KNOW & WHATS IN YOUR HEART. If youre considering starting your own business, know that 9 times out of 10 you will be more successful if your business focuses on something that you already do well. Doing what you know - or at least have some experience and knowledge in - makes a world of difference in how quickly you will succeed. 2. UNDERSTAND YOUR MONEY. Many start-up entrepreneurs fail in their first year because they dont understand how their money works. To succeed in business, you MUST have a true understanding of how your money works, where it comes from, where you spend it, and what your bottom-line profits truly are. 3. EMBRACE YOUR CLIENTS. Whether you call them clients or customers, they are the single most important component of any successful business. Without them, you have nothing, no matter how great your products, services or technologies. If your clients feel valued and cared about, they will be yours forever. Whats more, theyll refer their colleagues and associates to you, allowing you to build a strong customer base without additional marketing and advertising costs 4. BUILD A NICHE. Businesses that stand out from the crowd are often businesses that focus their products and services in a particular market niche. A niche marketing concept will give you significant market visibility and, over time, build a substantial customer base. And, do not feel as though you have to limit yourself to just one niche. Consider two or three related niches and watch your business grow! 5. CHARGE WHAT YOU ARE WORTH Whether you offer a product or a service, it is essential that you charge what it is worth. Do not think for one minute that just by making your product or service the least expensive, that it will generate clients. In fact, its often better to be at the higher end of the pricing scale so that customers will understand the inherent value of your product. Dont be cheap, be the best!
Posted on: Fri, 02 Jan 2015 13:02:21 +0000
Trending Topics
Recently Viewed Topics
© 2015