To ensure your Business Succeeds . . .
from Entrepreneur.com 20 April 12 enhanced by Peter/CXO Wiz4biz 4/14
The 2008 Great Recession darkest days are over, so we are told, but I’m finding that sales have increased only slightly for some Startups & small-business owners, while revenue remains depressed for many. While some customers are loosening up their wallets a little, it is clear purchasing habits have changed. Deep economic changes have occurred, and business will never be the same.
What can Entrepreneurs do — whether they’re an unemployed person starting up out on their own or a seasoned veteran trying to get the mojo back again. They must do things differently in order to survive. Luckily, what have not changed are the business fundamentals, those management traits that successful entrepreneurs almost all possess: tenacity, commitment & vision, + basic business skills.
New Strategies are required, however, strategies designed to work in a changing business climate. I’ve had a chance to develop & implement these strategies first-hand during the recession and its aftermath — and have employed them myself. Not only have I consulted with many businesses over the years, but I’ve had a hand in running over 57 businesses of my own. I have a good idea of what works & doesn’t work today – learned in the front lines of hand-to-hand small-business combat. Here are seven tips that will help to ensure your business is a success:
1. Have a Written Plan. Without a plan, your idea is merely a dream. It doesn’t have to be a book, but you need a few pages outlining specific objectives, strategies, financing, a sales & marketing plan, + determine the cash you need to get things done. When you write it out, it will clarify what you need & want + give you ideas of what to do to succeed.
2. Flex your Plan, when you need to. As you monitor & measure how you’re doing, you’ll probably need to adust to circumstances. You may need to correct a problem, chase a new opportunity. Review the plan every 3-6 months to make sure – it’s all still relevant. Change what’s needed.
[ 3. Forego your Ego & Listen, 4. Track your attack, 5. Delegation & Micro-Managing, 6. Using the Internet, 7. Don’t vent, Re-Invent ]