Thursday, August 30, 2012

7 traits of a successful Super Small Business


America is not the country is not small businesses. Small businesses create 65 percent of all new jobs, generate 26 percent of exports, 97 percent of U.S. exporters, accounting for 99.7 percent of all employers in the United States. Then, because about 50 percent of new businesses fail in the first year of operation? Here are 7 traits of a successful small business - so you can avoid bankruptcy - no matter how long you've been in business:

1) Ensure that the business vision, mission and objectives are clearly defined - implemented - and tracked. If you do not have a road map to follow, how to get there? Remember, no matter how long it will take - just that it gets. So be sure to write down your goals and plan to take the course.

2) Perfection may kill sales. No need to wait until the product or service is 100% perfect. You can make changes and improvements along the way. Just make sure to communicate with customers in order to obtain suggestions and feedback. Do not lose sales because you're too focused on perfection. In case you have not noticed, nothing in life is perfect. Especially in business!

3) Write a business plan, finding office space, order business cards and brochures, and the purchase of office furniture are all important in starting your business. But not as important as the actual sales. You need sales to provide liquidity and maintain your successful business. No sale - no business.

4) If sales are King - then keep track of sales is the queen! Make sure you have efficient financial processes, such as billing, accounts receivable, accounts payable, cash flows and management practices in place for their business smoothly and effectively.

5) Plan on the peaks and valleys - During the first year of starting your small business, make sure you have enough working capital reserves or cash to cover the fixed costs.

6) Train, train, train! You learn something new every day. Make it a goal to keep yourself and your employees well-trained and equipped to sell. It will pay huge dividends. One of the most efficient ways to provide top-notch training is in line with video conferencing. And 'best face to face.

7) Marketing Count the magic secret of marketing is to do all the time. Marketing your business is a daily, monthly, annual, all-the-time event. No work to do marketing "once in a while." Marketing is like running a marathon. You just go ahead. But make sure you are monitoring your marketing methods are working the best for your business. And eliminate the poor artists.

Running a small business is a challenge every day. But if you emulate these traits and avoid the traps, you will be a thriving, successful small business owner. And America will reap the fruit of your efforts .......

No comments:

Post a Comment