Starting a business is super exciting.
Having started several small businesses over the last several years I’ve learned many lessons and the following is an Infographic on the 7 Keys to Business Success when starting a small business to avoid failure.
You’ll notice at the very top of the Infographic below, I have the quote:
“Opportunity dances with those already on the dance floor”
This couldn’t be more true. Helping many aspiring entrepreneurs over the years I’ve seen to many continue to perfectly plan, but not take action. Any business plan you create will definitely not be the business a year later, but by taking action you’ll be able to learn and adjust. Trust me you can plan forever or continually tell yourself reasons the business won’t work.
Here’s some quick thoughts on each of the 7 keys mentioned in this Infographic:
Network: Whether you’re starting a business tomorrow or next year, start building a network today. Attend networking events and build true connections. If you’re not comfortable networking, check this infographic I made on How to Network. Relationships are key. Having a network to answer questions and support your business ideas is so helpful.
Knowledge: Taking action builds knowledge. Experience they say is a hard teacher because you get the test first and then the lessons. Associate with other business owners and learn from them. Ask questions and listen.
Define your Niche: Define you customer very specifically. Don’t try to be everything to everybody day one when starting a business. Define exactly who your end customer will be as specifically as possible, it will make creating your marketing plan so much easier for your small business. Most importantly once defined and before starting, talk to the end customer to assure you’re creating exactly what they want.
Marketing Plan: Have a very specific marketing plan for your business. This is an outline on 10 small business marketing ideas. Many businesses don’t have a clear plan out of the gate on how they’ll attract new customers and thus it creates difficulty. Have an outline and check back consistently to assure you’re on target and tweaking based on successes and failures.
Money: To many businesses start with less than is needed to get the business running to successfully sustain itself. Realize that whatever you plan you’ll need, you’ll need more. I’d rather have more money or access to it, than less and struggle.
Customer Service: Service your customer so they have the most memorable experience. Earning back a lost customer due to poor service is difficult and word of mouth can be beneficial and so damaging, especially with the power of online today. Give your customers an experience they’ll tell everyone about. Thats the best form of marketing for any small business.
Hustle: Staring a business takes hustle, determination, passion and a strong mindset. Surround yourself with other successful entrepreneurs who work hard on their business and ignite your desire each and every day to hustle.
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