When you are about to take the risk of starting your own
business, hopefully at this time you would have already done some
research. You need just enough research to know where to start because
there is going to be many bumps in the road to see your exact
breakthrough moment.
You have to be prepared to spend a little bit of money to do what is needed to make your business look and feel professional. This isn't difficult if you are dealing with an online business, and not a store business. Store businesses are more difficult because it will be harder for any new business to interrupt the local businesses who are your competition for whatever you are offering your customers.
Make sure your services or products are in demand. I pride my businesses on demand because it allows people to buy it without thinking and 100% of the time you don't have to open your mouth to sell it because they already want it, makes sense right?
Once you have that demanding service or product, then you have to decide whether you will need a partner with you to help you deliver these services fast and efficiently to keep your customers happy. They need to know that you serve them quickly and they will return as your customers for life. You must always keep your standards extremely high. You must live and breathe your business.
When it comes time for you to maintain a monthly profit after all expenses, you will then be able to maintain that standard at least for 12 months just so you can build enough capital to sit down with your partner or team to discuss ways to improve your monthly profits.
Once you are able to improve your profits each month you just need to take it a month at a time and when you feel comfortable with your progression then you can always hire another person to relieve you of most of the little jobs that can be time-consuming. Once you employ a new colleague, keep an eye on your monthly turnover so you understand if you can manage with just the staff you have or if you need another member of staff. Always make sure that your business is running smoothly even if it means adding another member of staff because the less pressure you have, the easier you will see profit without any pressure on your shoulders.
Take good care of your beginning middle and end. Once you do this right, you will be ready to expand your business to another country if you are online or another town if you are in a store. Always think about your business plan and costs from the beginning and understand what it is going to take to pull this off and you will roll with the punches every single day.
You have to be prepared to spend a little bit of money to do what is needed to make your business look and feel professional. This isn't difficult if you are dealing with an online business, and not a store business. Store businesses are more difficult because it will be harder for any new business to interrupt the local businesses who are your competition for whatever you are offering your customers.
Make sure your services or products are in demand. I pride my businesses on demand because it allows people to buy it without thinking and 100% of the time you don't have to open your mouth to sell it because they already want it, makes sense right?
Once you have that demanding service or product, then you have to decide whether you will need a partner with you to help you deliver these services fast and efficiently to keep your customers happy. They need to know that you serve them quickly and they will return as your customers for life. You must always keep your standards extremely high. You must live and breathe your business.
When it comes time for you to maintain a monthly profit after all expenses, you will then be able to maintain that standard at least for 12 months just so you can build enough capital to sit down with your partner or team to discuss ways to improve your monthly profits.
Once you are able to improve your profits each month you just need to take it a month at a time and when you feel comfortable with your progression then you can always hire another person to relieve you of most of the little jobs that can be time-consuming. Once you employ a new colleague, keep an eye on your monthly turnover so you understand if you can manage with just the staff you have or if you need another member of staff. Always make sure that your business is running smoothly even if it means adding another member of staff because the less pressure you have, the easier you will see profit without any pressure on your shoulders.
Take good care of your beginning middle and end. Once you do this right, you will be ready to expand your business to another country if you are online or another town if you are in a store. Always think about your business plan and costs from the beginning and understand what it is going to take to pull this off and you will roll with the punches every single day.
