Essential Business Tips

Being an entrepreneur means that you’ll often blaze your own trail: No career guides, counselors or maps will guide you from one step to the next: You’ll have to make it up as you go. Being a business owner also means you have to follow up on the trail you started with and add more changes to improve on your business. Here are business tips to help you gain a competitive advantage over your competition, start a good business and insulate yourself from the threat of new entrants in the market.

1. Focus on leads, not sales

2. Don’t sell products, provide solutions

3. Always optimize your pricing

4. Hire friendly customer-facing staff

5. Stay open even longer

6. Don’t make customers dig deep for a phone number

7. Give something for nothing (or very little)

8. Support your local community

9. Use social media smartly

10. Own your niche

11. Be humble

12. Always make sure there is and will be enough cash in the bank.

13.You can’t fire bad employees fast enough.

14. Your people are not your kids, your personal assistants, or your shrink.

15. Listen to your customers.

16. Know when and when not to be transparent.

17. Trust your gut.

18. Protect and defend your intellectual property.

19. Run your business like a business.

20. Know your finances inside and out.

21. You don’t know what you don’t know.

22. Focus on profit instead of revenue

23.  Start with a narrow focus first and expand

24. Focus on employee morale

25. Focus on Employee Motivation.

26. Start a business that matches your personality

27. Always be aware of your competitors’ moves

28. Just do it (even if it isn’t perfect)

29.Build on the functionality of your ideas

30. Ask for feedback from friends and family

31.Find out opinions on similar products

32. Pitch your idea to professionals

33. Organise a focus group

34. Understand your industry

35. Have a good idea of what needs to be done

36. You do not need to be a first mover

37. Make sure to create a website

38. Delay charging a price or give a free trial

39. Keep your costs low

40. Create a brand

41.  Be Passionate

42.  Start While You Are Still Employed

43.   Don’t Do it Alone

For every success you have in growing your market share, another business or other businesses will inevitably lose ground.

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