business

Only 1 out of 10 start-ups succeeds - it's that important.
1. A Business Vision - If you don’t know where you are heading, then you can make any choice and go in any direction (including backwards). The value in knowing your final destination (your vision) is that you can choose to take the specific paths that lead you there. Your action is intentional and keeps you pointed in the right directio
2. business plan that works. -One of the first steps you should take toward starting a new business is to develop a business plan, a written document that summarizes and entrepreneur’s proposed business venture, communicates the company’s goals, highlights how they plan to achieve those goals, and shows how consumers will benefit from the company’s products or services. Getting started in a new business requires a lot of work, not the least of which is planning. Although many business owners claim to little or no formal planning, even the most intuitive of them have some idea of what they’re trying to accomplish and how they hope to do it. However all successful entrepreneurs know that planning is essential to success.Planning forces you to think ahead. Before you rush in to supply a product, you need to be sure that a market exists. You must also try to foresee some of the problems that might arise and figure out how you will deal with them.
Preparing a business plan serves two important functions: First, it guides the company operations and outlines a strategy for turning an idea into a reality. And second, it helps persuade lenders and investors to finance your business. Although a business plan has a simple and straightforward purpose, it still requires a great deal of thought. For example before you open your doors, you have to make important decisions about personnel, marketing, facilities, suppliers, and distribution. A written business plan forces you to think about those issues and develop programs that will help you succeed.
3. funding ur business - Every business needs money at one time or another. The process of obtaining financing can be daunting and the chances of success limited if it is approached in a disorganized way. Lenders are conservative critters; however it is important to understand that it is their job to lend money, and they are happy to do so if their risk is reasonable. The chances of obtaining a business loan are greatly enhanced if you adhere to the following procedure. Understand how you intend to use business financing, how much funding you need and how you intend to repay the loan. Be able to communicate this clearly and confidently with prospective lenders. If you are an existing business, are you profitable? know that.
a business is good when its still standing after 5 yrs. stable when it exist after 10 yrs
4. marketing - ask the ffg: who are your potential clients? where are your potential clients? what marketing strategies will best reach ur client? why would prospects[clients] pay attention to what u advertize? when should you launch ur marketing attack?
and lastly, how do you expect ur marketing efforts to turn out?
If you treat your marketing like a game of darts and only aim for the bullseye -- you will come a lot closer to hitting the mark (why do you think it's called MARKeting?!)
5. keeping customers. - "Customer is always right" - Let's face it; customers can be a real pain in the neck. You move heaven and earth for them, you respond to their every whim, you give them time to pay and they still try to screw your prices down. Just when you've done all that, they leave you and start buying from one of your competitors. Well, as we know only too well, we do need customers and lots of them. We want them to stay with us and we want them to say nice things about us to other people. We also want them to pay us on time and accept the fact that we might be a bit more expensive than others.

Have you noticed how being likeable costs so little? A lot less than advertising or other promotional activity required to replace lost customers.

Maybe the customer isn't always right, but if you want to keep them, make sure they like you.
6. regaining lost customers -The longer you keep a customer the more he or she is worth to you. In part, because it takes a lot more money to acquire a new customer than it does to keep an existing one.Once you know how much each customer contributes to your bottom line, you will begin to understand the value of hanging on to them. To do a better job of keeping your customers, you need a system to gather information about them and how they feel about your product and services. Businesses lose customers due to poor service more than for any other reason. When you make a service mistake and a customer complains, you have an opportunity to win back that customer and gain long-term loyalty. Here is a five step plan you could implement when a customer complains. 1. appologize 2. take urgent action 3. show empathy 4. follow up 5. compensate