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- Creating the Foundation of a Successful Business
Posted by : Amanda Stein Saturday, June 7, 2014
The road of being a small business owner is tough. First dealing with the struggles of funding your new venture, along with the need of creating a business plan. Followed by the need to brand and market your business while maintaing the balance of retaining old customers and finding new ones. There's no easy map for you to follow or no book to outline every last move you need to be successful. A business requires dedication and a strong will to trudge on despite slow, seemingly impossible times.
Be Not Afraid of Slow Times
The question is not, "How will you make it through this day?" The questions is, "How will you make it through this day?" Even business gaining millions in revenue a year hit points where sales decline. The key to picking yourself up out of these times is the way in which you handle the moment. Will you hide in a corner or will you sit down and figure out ways to gain traction. The needs of your customers will change, you just have to figure out how to change with them. Slow times are a way for you to develop a game plan for adapting to these changes and how to implement them.
Always Continue Learning
Just as you had to learn an entire set of skills to have the business you are in now, a business will have to continue to grow, learning new skills each and every step of the way. This strategy will also help to prevent your services or products from becoming stagnant. Require employees to devote a certain amount of time each month to a new topic or skill, maybe even creating a fun way for each employee to present their findings with the entire workforce.
Who's the most important person in your business? You? Your employees? Or, your customers? The answer here should be clear as day...your customers are the most important people in your business and their opinions should be the ones you listen to. To get a sense of how they feel, send out surveys, ask questions and more importantly, listen and take to heart what they have to say. Don't make changes until first consulting them and when you do, don't play the stubborn card and do what you want to anyways. No matter how small your business might be, strive to gather as much feedback as you can always.
Keep Striving Towards A Goal
Having a goal inspires a person to motivated with the everyday activities of their life. Why shouldn't you business be the same? Set goals for your staff, for you management and yourself. If you reach your goals, set another one. Keep working on bettering yourself, your team and your business. You'll be amazed at what having something to strive for will do for company morale as the focus will go from company chatter to the things you can achieve.
All in all, the foundation of your business should be based upon hard work and knowledge, both of which you press upon your staff and strive to collect from the people who are most important to your business. Keeping your mind on your goals and aspirations will launch you in the direction of your dreams and missions for your business ensuring you success for many, many years to come.