1. Find a niche
For a small business it is best to find a niche . A small company with limited resources can operate efficiently at a niche market. Concentrate your efforts on a fairly narrow proposal. Stick to what you do best, and you will become an expert in this area. Understand that you can not be good in everything. Focusing on a narrow market, you avoid clashes head-on with larger competitors . If your hardware store sells everything from paint to lumber , it can not compete with the large chain stores . However, you can try to limit the range of products , such as paints and varnishes, and become the best retailer in this segment.
2 . Be small but think big
The most frequently asked question from people starting a small business - " How am I going to compete with large companies? ". Small business has inherent advantages over large, including the flexibility to react quickly and being able to provide a more personalized service. Make sure that your business uses a maximum of small business opportunities.
3 . Emphasizes the difference between your product
Show and emphasize the benefits of your product or service to the buyer, highlighting the uniqueness of the solutions to their problems. Avoid simply copying. Simulators rarely succeed in the market. Explore, but do not copy competitors.
4 . Make a great first impression
Strive for accuracy and quality. Do you often get a second chance to make a first impression? This means that you need to have a tidy shop, polite staff and so on. However, if you work at home alone, remember that you are the point of marketing leverage. Everyone with whom you come in contact can be your potential customer or a person who will recommend your services. Make sure you are always presentable, professional and knowledgeable about your business.
5 . Good reputation
Your business is based on reputation. It is extremely important for you to have a good reputation for quality products and excellent service. It is these two things and guarantee success. Always strive for quality.
6. Continuous improvement
Entrepreneurs know that it is impossible to think conservatively when you improve your products and services. You run the risk of falling behind competitors if practice way of thinking " we've always done that way ." Today's business requires new solutions.
7. Listen to your customers
Follow the market: listen and react to customers' needs . They need to feel that they are important, and it really is! When you focus your attention on clients and earn their trust, they will not only recommend you, but will remain loyal to you. Remember that personal recommendation is word of mouth - the cheapest and yet the most effective form of advertising for your business.
8. Plan success
Entrepreneur must understand the power of planning. A good plan will increase the chances of success and can help define the business concept, a rough estimate of the costs, predict sales and control risks. It shows where you are going and how you get there. Doing business without a plan is like riding a car in a foreign country without a map.
Constantly innovate, come up with technological changes. Use innovation as a springboard to improve products, processes and reputation. They should be used everywhere: in pricing, in promoting products, in service, in distribution and so on. Keep your eyes open for new ways to do familiar activities and apply innovations that can improve product quality and business performance.
10 . Work smart
As an entrepreneur you need to have confidence in yourself inexhaustible perseverance to develop your ideas. Studies have shown that people, successful as entrepreneurs, see and accept things as they are and take appropriate actions.