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Five Simple Steps to Business Success

business, success, business success, entrepreneur, brand, USP, product, service, business plan, expert, steps, team work

“Success” is a word that attracts a lot of admirers. It connotes wealth, being forward, achieving a desired aim or goal in life and so on. Success in business, for the entrepreneur, means being able to maximize profits. And this is possible after taking care of all known expenses necessarily and wholly incurred to conducting the business.

Businesses are born with the intention of meeting customer needs and profiting therefrom. But like a new born baby, your business must be tendered at close watch until it has grown to self sustaining level. Imagine how a good mother takes care of her child with all tenderness! It, therefore, becomes a marvel that a child who cannot speak nor communicate is able to respond to mother’s care and warmness until maturity. That is exactly how your business should be grown. If your chosen business is your passion and you have garnered the basic and requisite training, then there is a 90% percent chance of success. To this end, it is imperative we identify five simple steps to business success.

Step One: Search, Research and come up with a Business Plan.
A business plan is simply a business report which investigates and analyzes intended business as to whether such a specific project or program can be carried out successfully and profitably. That is to say it is a viability report and test. An entrepreneur should see the need of a business plan as a roadmap for carrying out his business activity. It will help him to compare his actual results with projected business report as ensconced in his business plan. An entrepreneur should search and research information to be convinced of what he expects to do.

Step Two: Be an Expert in Your Field.
You need the requisite training in the business. As the saying goes: “You cannot teach what you don’t know.” But another axiom says: “If a man knows how to build a better mouse trap, the world will beat a path to his doorstep.” Can you see the drift? If you do not have the skill, knowledge, experience and training required in your field, do one of two things or both. One, attend seminars with live demonstrations, apprentice or intern to gain ground in your profession. Two, hire the best hands in the field and work as a team. Third, do both aforementioned. This will undoubtedly enhance your business success.

Step Three: Hire Dedicated Team.
If your business lacks team work, engage master mind group to hire your staff. An entrepreneur is supposed to network in his business and social lives. Through master mind he can easily hire talents that meet his needs. As soon as good staffs are hired make every effort to retain them. Make them “Talent Partners” since they may not be contributing capital or equity into the business. Personally give them a pat on the back for jobs well done. Give them a sense of belonging by including your team in the decision making process. Give employees the opportunity to learn new skills and cross-train whenever possible so as employees know each other’s job.

Step Four: Have a Saleable Product or Service.
Every product or service is expected to meet or solve a specific need. Where your product lacks this basic functionality, it means you either find ways and means of improving the product or service or simply jettison it and go to the drawing board for a superior and better product. Of what use is a business without a superior product or service to sell? It is unthinkable in a kind of competitive market we all are finding ourselves today. Saleable product will include here quality, competitive price, after sales service/customer support and more.

Step Five: Have a Brand or USP for Your Business and Advertise it.
Every business must, of necessity, differentiate itself uniquely from any other. That way your Unique Selling Proposition (USP) will sooner than later pervade the whole length and breadth of the market. Over time you will be able to gain a sizeable market/customer share with your brand. That is positive effect and reward of effective branding. You may even go as far as registering and securing your USP or brand with Trademark Office to avoid impostors capitalizing on your brand for their selfish advantage. Advertising includes marketing, promoting and creating awareness for your product or service. Remember if you don’t blow your trumpet nobody will.

If you do the above things well, your business will witness unprecedented success and it will not die before its time. Shalom!

You Will Excel!
Published: 2007-04-21
Author: Oseremen Aigbokhae

About the author or the publisher
I am a Multi-Disciplinary Business Consultant and Writer. I have a degree in Accounting with an upward of twelve (12) years working experience. My email: edose123@yahoo.com

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