You may not know it, but most businesses flourish without even the proprietors knowing it. Starting an entry-level business is like raising a child: it takes a lot of environmental stimulus and nurture to keep it on the right track.
You're making a profit ... using low overhead and virtually zero business loans
Employing a lot of people does not necessarily mean that they'll all contribute to the success of a business. For one, you yourself can take up three roles all at the same time and still let your business be productive - be the accountant, marketing director, and more importantly, the capitalist. Making a business boom utilizing only a few resources and using no borrowed capital is a good sign you're on the right track.
You're making a lot of friends (and enemies) - unintentionally.
Looking at your email inbox and getting a lot of greetings and constructive suggestions from random people is a good sign you're getting positive coverage. Hate mail is also part of the ordinal of running a growing business. Usually, giddy people send a lot of emails and extremely ... end up buying your stuff. Customer persistence means they're on the verge of buying something from you, and are just making sure they're going to get what their money's worth on their purchase.
Keeping your contacts posted and personally answering to their inquiries is a sign you're hands-on with them. You'll basically get more patrons once they spread the word that you're giving them credit for their suggestions and assuring them of your business' accountability and responsibility.
You're getting frustrated
Frustration ultimately leads to ignorance; ignorance begets neglect; neglect constituents to bankruptcy. Before you start a business, make sure you get all the vital information needed. It takes usually about a year or two before you know all the in's and out's of an industry. Read books, consult people in that field; you can also opt to apply for an internship in that particular business directly related to that industry.
Over time, you'll love the fact that you know a lot about the possible risks and how to troubleshoot them before they get worse. The rudimentary guide in starting a business is always "know it before you start it, otherwise you might end it before you know it"
You're approaching enemies through competition
Think of the tech industry these days - there's Apple, Microsoft, Google, and a late bloomer ... Facebook. Facebook was not a smash hit in a lot of Asian regions until a year ago when it dominated over Friendster and MySpace by a mile because of the former's intuitive interface and planet-wide community of users and developers.
A recent report in Alexa now shows that people are spending more activity on Facebook than searching on Google. If Facebook keeps up with the demands of its users in the next three years, it will surpass Google's net worth and might even be diversifying its array of service, not only to software-based products, but also hardware as well.
One thing to know when you're running a business is that people will compete with you if you're raking in the big profits all for yourself.
0 comments