5 Things You Must Know Before Starting Any Business

Business success is tied to performance of certain tasks with a high level of efficiency. 

What you must know before starting any businessWhen we were kids, our parents advised us to get good grades in school so as to attract high paying jobs. 

Also, our teachers told us that we must get good grades if we must avoid the labour market. 

But as time went by, we are now being told that there is no longer enough jobs. That the only way out is for we to be our own boss , by starting our own business. 

By so doing, many are entering into the business world without the prerequisite knowledge of how the system works. 

As a result, they go in with high hopes of making so much money, which at the end they are unable to make. Rather, they loss all there money. 

Here are the things you should know about business, if you must succeed in the business world. 

1. Problem solving. 


Before venturing into any business, you must first of all identify a peculiar problem in the society. Thereafter, develope a unique product or service that would solve such problem in the most effective and efficient manner. Every successful business organizations are committed towards solving a unique problem.

2. Value creation. 


This is were many entrepreneurs meet road blocks. They were just too focused on making profits without creating value of any such. The sole purpose of business is to create values. Profit is only a reward for creating value. Therefore , if you focus on profit, you would hardly achieve it at the long run. 

3. Service. 


In business, you will never become the boss no matter how hard you work. The owners of your business are your customers. And they can fire you by choosing not to buy from you. The only way you can win them to your side is by providing the highest possible quality of service you can ever imagine. 

4. Relationships. 


Every successful business organizations know that business is far beyond buying and selling of goods and services. The new language of business is relationship building. It’s essential that you become interested in things that would help improve the quality of life of your customers, rather than just selling to them. Making your customers to feel that they are the only one you are interested in, would keep them longer with you. 

5. Passion. 


Passion is what keeps you going. For you to succeed in the business world , it is advice you venture into a business you truly love, and in which you  can utilize all your creative genius and capabilities. The mantra is this:Do what you love and the money will follow. 

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Originally posted 2017-01-27 05:05:53.

Ibibo Ataisi

A Self-development professional committed to helping young people explore and exploit their potentials in order to live a more enriched life.

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