Its always important to know the basic fundamentals of your business. No matter what kind of business and whether you've been in business for one year or one hundred years. Here I've put together some best tips that every business owner should know.
1) BE NICE
2) KNOW YOUR POINT OF DIFFERENCE
3) MARKETING IS IMPORTANT
4) KEEP TABS ON THE INDUSTRY
5) MONEY IS MORE IMPORTANT
1) BE NICE:
This is really simple, but important, work hard and be nice. Whether it's the people that supply your products or who actually buy your products, it's always important that you be nice.
2) KNOW YOUR POINT OF DIFFERENCE:
You have to know your point of difference or uniqueness, It doesn't matter if you're selling apparel or vegetables; you need to know what sets you apart from the thousands of other merchants that sell the same product as you. It includes various things such as having lower price point, better customer service and better product selection based on user needs. Knowing what sets you apart is a great way to start your marketing efforts.
3) MARKETING IS IMPORTANT:
Remember, your reputation matters and it follows you everywhere you Next, marketing is really important, so whether you have the best product or service in the world, no one will come to your business unless they know you exist. How do people know this? It's all about marketing. Thus, you have to get your name out there, whether it's through email, local outreach or social media.
4) KEEP TABS ON THE INDUSTRY:
To help figure out what your point of difference is, it's also important to keep tabs on your industry. You need to know what your competitors are doing and you need to know what's going on with developing technologies, that way you can always be aware of what's changing in your industry so you can react a lot faster.
5) MONEY IS MORE IMPORTANT:
To round things out, money is more important than everything. Unless you're a non-profit, you're probably in business to make money, so you need to keep tabs on your finances at all times, whether it's basic accounting, forecasting for future investments, etc. In other words, you need to know if you can pay your expenses and if you can make a profit.
Hopefully these business fundamentals are helpful in bringing things back to basics and will set you on the track for success!!!
1) BE NICE
2) KNOW YOUR POINT OF DIFFERENCE
3) MARKETING IS IMPORTANT
4) KEEP TABS ON THE INDUSTRY
5) MONEY IS MORE IMPORTANT
1) BE NICE:
This is really simple, but important, work hard and be nice. Whether it's the people that supply your products or who actually buy your products, it's always important that you be nice.
2) KNOW YOUR POINT OF DIFFERENCE:
You have to know your point of difference or uniqueness, It doesn't matter if you're selling apparel or vegetables; you need to know what sets you apart from the thousands of other merchants that sell the same product as you. It includes various things such as having lower price point, better customer service and better product selection based on user needs. Knowing what sets you apart is a great way to start your marketing efforts.
3) MARKETING IS IMPORTANT:
Remember, your reputation matters and it follows you everywhere you Next, marketing is really important, so whether you have the best product or service in the world, no one will come to your business unless they know you exist. How do people know this? It's all about marketing. Thus, you have to get your name out there, whether it's through email, local outreach or social media.
4) KEEP TABS ON THE INDUSTRY:
To help figure out what your point of difference is, it's also important to keep tabs on your industry. You need to know what your competitors are doing and you need to know what's going on with developing technologies, that way you can always be aware of what's changing in your industry so you can react a lot faster.
5) MONEY IS MORE IMPORTANT:
To round things out, money is more important than everything. Unless you're a non-profit, you're probably in business to make money, so you need to keep tabs on your finances at all times, whether it's basic accounting, forecasting for future investments, etc. In other words, you need to know if you can pay your expenses and if you can make a profit.
Hopefully these business fundamentals are helpful in bringing things back to basics and will set you on the track for success!!!


