subject: Five Keys To The Perfect Business [print this page] Setting up and operating your own small business is the quintessential American Dream, and every year thousands of people all over the world strike out on their own to make their dreams a reality. By taking the reins of your occupational destiny and forging your own path, you can do some pretty incredible things, but realize that everything comes with risk. If you are prepared for this risk, and the all encompassing nature of being a small business proprietor, here are the five keys to creating the perfect business.
A Stable, Long Term Business Model Is Worth More Than Double Digit Profits In Short Term
This is pretty simple, but you would be surprised how often first time small business owners bungle this. Your business model is the most important feature of your new business, and it is alright, even in harsh economic times like these, to project a five-year plan that is in the red so long as you account for it and can still meet basic costs and expenses.
Good Marketing Is Ideal, Great Marketing Is A False Economy
A good marketing campaign can be just what a small business needs to get noticed by potential customers and clients, but do not spend too much money or time and resources on marketing. As a start up, marketing costs can be pretty extravagant, so stick to the basics, like creating a free Web page, get a listing in the local Yellow Pages, and register with the local Chamber of Commerce. Going for a "slick and clever" marketing plan often costs more than you will generate in additional profits and revenue through the campaign.
If You Serve Customers, Make Them A Priority
If your business is in the market of serving customers, make their satisfaction a priority. Repeat business and word of mouth is still how a majority share of business growth occurs.
If You Make A Product, Make Quality A Priority
Likewise, if you make a product rather than provide a service, do not cut corners on quality in either materials or in the production process. Make sure that your products are of the highest quality that is available within your financial abilities.
Treat Your Workers As Professionals
And, most important for any company, no matter what business they are in, is generating high work force morale and loyalty. A happy work force is a dedication and productive work force, so make sure that you treat your employees with the utmost professionalism.
Five Keys To The Perfect Business
By: Steve Schlagel
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