Being a boss for yourself is always fun. Having a business will teach you how to be more passionate with what you are doing. However, you also need to be careful and prepare yourself with all the consequences which results from your actions. Hereby some tips you need to know in order to start a successful business.
Firstly, knowing your product and what the uniqueness of your product that is different with your competitors’ products. Highlight your product specialty to the customer to attract them. But if your products are almost similar with your competitors, the best way to attract customers is by adding extra value to the product. For instance, Nestle Coco Crunch added extra 200g without increasing the price to attract cereal lovers.
As a business owner, you need to have an organizer to make it easier for you to plan your day/week. You can try by setting a weekly goal, then make a daily plan along the way to reach the goal. Whenever you achieve the goal, reward something to motivate yourself. For instance, buy new outfits, or spend time in the spa.
In business, there are always competitors. But competitors aren’t always bad people. Believe it or not, there are so many things you can learn from your competitors. Make it a healthy competition between each other. Get ideas from them and do some adjustments to match your company’s needs. This is not stealing, this is called ‘innovation’.
To know whether your investment is on the right track, you need to the know company’s finance. For starters, it is advised that you should take care of the 80% of your company finance before letting it being handled by your staff. This is to ensure you to know your company’s situation and how you choose to manage it. If you don’t know how to read finance, then you should study it.