Starting A New Business – 10 Tips For Planning A 21st Century Business
Article Source: http://EzineArticles.com/8158820 is going to find it tough. Here are 10 tips for new businesses starting in the 21st century which come from experience and may help you have less pain. 1. Develop a business plan focusing on revenue Take time and identify how you will generate revenues. It is better if you start […]
Article Source: http://EzineArticles.com/8158820 is going to find it tough. Here are 10 tips for new businesses starting in the 21st century which come from experience and may help you have less pain. 1. Develop a business plan focusing on revenue Take time and identify how you will generate revenues. It is better if you start by focusing on who your "customer" is likely to be. What will be their needs and expectation on product price, and service levels. 2. Make some tests before committing everything It is better if you know as much as possible about the market. So make a few tests on the viability of your business. Ask people directly about their interest in what you are offering. You may not like what they say or you could be pleasantly surprised. 3. Have enough money to survive No one makes money in a new business. Generally it is the opposite, and the business sucks cash out of you. Have enough cash to weather the first year of a new business venture. Use of credit cards is common but not recommended. 4. Know how to sell With so many businesses all vying for the same sectors and customers the difference will come down to your marketing and selling skills. Either develop your own skills or hire external resources to help you. Please remember: the product seldom sells itself. 5. Online presence is essential You need a website to inform customers about your business and the value your product offers. Do avoid using terms like "welcome to our new business" unless there is a clear marketing advantage in doing so. 6. Network online and offline Social networking will help. By joining relevant online forums and groups common issues are identified and answers provides. Networking with local business people can be a help. Often a customer's decision-making process is facilitated when a trusted source gives them a recommendation.
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