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How to determine if you business will be successful

Discussion in 'Tell Us about Your Company' started by Admin, Oct 7, 2020.

  1. Admin

    Admin Administrator
    Staff Member

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    Having a business alone doesn't mean you have a business. And most business owners or people who are embarking on a new venture tend to waste time and money on a business that would fail.

    we have come up with a way for you to determine if you have a business or not. And it's simple. You have to be able to answer one question only.

    Are you solving any problem? and can you get paid to solve that problem? Also, are you willing to be the best at solving the problem? If you can answer yes to these questions then you have a business. And you are going to be rich if you can do the business in a way that will make your customers happy.
     
    Melvin likes this.
  2. Melvin

    Melvin Active Member

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    True
     
  3. jjmatthew95

    jjmatthew95 New Member

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    Well said, I believe that these words should be known to every businessman who doubts the profitability of his business, although if you are in doubt - there is hardly a place for you in this boat.. Rather, they are more important for those who are just discovering it and want to know more. I was starting a food processing business with an old friend of mine, and we made a big mistake opening the wrong type of business. We failed on the fact that we opened a company on LLC, although it was necessary to do just that, since we quickly retrained the business and registered it as necessary after we found a couple of tips on https://www.discovermagazine.com/sponsored/best-llc-services and my friend said that we could get into a lot of money without knowing it and pay a lot more taxes. Therefore, novice businessmen - better prepare for this niche and take advice from more experienced businessmen
     
    #3 jjmatthew95, Jan 12, 2021
    Last edited: Jan 25, 2021
  4. TimInce

    TimInce New Member

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    As for me, there are two truths that will determine whether you have a successful business or not. First, it's obviously the products you're selling. It should be in demand, for example, food, dishes, household items, etc. Such a business will always be successful, as every person needs it. The second principle concerns the moment when you have already opened a business - these are sales sequences. After all, the first impression of people about the store is the most important, which means that initially you should sell only the most popular goods and at a bargain price in order to gain as many regular customers as possible, and then you can already change the product and increase prices little by little.
     
    #4 TimInce, May 27, 2022
    Last edited: May 29, 2022
  5. ThomasHoward

    ThomasHoward New Member

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    I have special software for business analytics. It gives me charts and statistics of my business so I always can understand what is my revenue and compare it with the previous months
     
  6. EmmaNorv

    EmmaNorv New Member

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    There is such an important word in business like futureproof. If with time, people will not need the services provided by your business anymore, this means it is not technically succesful
     
  7. Sean

    Sean New Member

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    Coming up with a great idea is just the beginning. It is important to understand how to implement it and whether it will bring income. A business plan usually helps with this. A business of any size needs a launch and development plan. It allows you to look into the future, assess the project's prospects, and see the opportunities and challenges. You need to study the field in which you will operate: who your potential customers and competitors are. This information will help you find your competitive advantage and understand how to promote it. You can immediately plan which tasks you will delegate and automate with the help of e-commerce transformagency.com.
     

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