Stuffs to Focus for Young Entrepreneurs – No Shortcuts…!September 26, 2018
There is a common question in the mind of young entrepreneurs that For building a Business, what are the things which should be focused and be on highest priority? The answer to which a great experienced individual commented that the company should be built considering that it is going to your forever. Money is just fuel. To stay in the market for a long time your company needs a theme, more than that a purpose.
Do not hire a competitor’s marketing person when you are still building a team
When you are planning and building a business, you aim for it to be forever. The path or the journey does not have any shortcuts. Our mind starts thinking and making decisions considering the long term of a business at utmost priority. Considering an example, you should never hire a competitor’s marketing person. Many of them feel its tempting and that is completely acceptable as you are new in the market. Most of the time the marketing team which turned out the most efficient is the one not from the same industry but was trained and mentored by their bosses. The marketing people from competitors’ usually share their tales regarding huge project execution in past or previous company, but you should not blindly or quickly start believing them. The marketing person who has stolen the customers’ details from his or her previous employer to join you can do the same for you too.
Listen to your customers
Another best practice which you should actually practice is to be in direct touch with your customers and keep the relations updated. This is especially where the renewal of the contract are the concerns. The smart purchasers will examine such relationship very closely. If you miss out on such bonds due to some negligence, you will end up discovering that you have lost some valuable clients or customer.
Add value to your company
With this and other such worst experiences, it was proved that there shouldn’t be any shortcuts while building a business. You will automatically feel not to take any such shortcuts if you are willing to make a company for a long run. For example, you can ride a car smoothly on a nice road. But the road to success is quite bumpy and you got to need a good engine so your vehicle doesn’t give up in the middle.
Money is fuel
Adding further benefits, you should have sufficient financials that a bank and other parties can show confidence in them. It is not hidden that good financials are always beneficial. Money is the fuel for your vehicle. A start-up can run for a year on enthusiasm but you have to fuel it up with money so that enthusiasm doesn’t die. Never-ever neglect the power of a good marketing plan.
The above-mentioned rules if followed religiously, you will surely make a well managed and sorted business with high values.