|
A business is more than just a cash cow. It is more than just an income stream that is expected to provide for one’s self and one’s family. A business can actually be a rewarding piece of work, one that can be a fountain of fulfillment for the businessman who’d take good care of the same. Indeed, building and maintaining a business is much akin to an art form. Some even say that it is a science; bound by particular rules, measured by specific standards, and molded by tried and tested methodologies that, though not universal, are widely applicable. It is in this light, therefore, that the principles propounded below are presented. These are proven approaches to doing business that can ensure solid and lasting success for your commercial enterprise. Practice them well and they will reward you tremendously. 1. Time is money. Every wasted second is wasted profit. Every wasted strategy is wasted opportunity. In business, success is determined by how well you perform within a particular period of time. Time is a finite resource that should always be optimized. 2. Keep in touch with your target market. They say that the only thing constant in this world is change. Market forces change. Market trends change. The needs of the members of your target market change. The desires of the members of your target market change. If you do not keep track of these changes, and if you fail to adjust accordingly, then your business will be left behind. 3. Study your competition. Many experts say that success in business can be broken down to a simple formula: copy your competitors’ strengths and improve on their weaknesses. This tactic, of course, requires a thorough study of your competition. More often than not, you will learn more about yourself (and your business) by observing the conduct of the people you are pitted against. 4. Controlled expansion for increased productivity. Profit is directly proportional to productivity. Productivity can be increased via a number of ways. All of them, however, involve increasing one’s resources. Whether it’s manpower or machinery, expansion will always entail some risks. Hence, calculated expansion is essential. Do not expand unless your business is ready. Do not expand for the sake of expanding. Expand only because your business is getting too big for its current arena. Let the course of your enterprise dictate your plans for expansion. 5. Make good use of new media. Business is always a race to exploit new media. Do not be afraid to try out new technologies, because if you will hesitate, you’ll just be giving your competitors the opportunity to jump the gun on you. Debra Freligh is a well-known Marketing expert and the owner of DMF Media: Head over to her Website and finally discover your success http://www.dmfmedia.com Your Chance Has Finally Arrived!
Related Articles -
marketing, offline, online, business, social, networking,
| 
