Running a business means taking care of lots of little things. Becoming a successful is no easy feat. Sure, success depends on the big thing, such as your strategy, marketing and technology. Sometimes, starting with these 9 tips to help you and your company out of hot water.
9 useful business tips for success
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You can’t fire bad employees fast enough.
You just can’t. Just make sure you know they’re the problem, not you (see next tip).
The problem is probably you.
You need to know that 90 percent of all problems are management problems. When things aren’t going well, the first place to look for answers is in the mirror.
"Elevator pitch” is a brief sentence to describe what your business is all about. Use it when you introduce yourself to others, at business mixers, meeting with prospects. You're more likely to land a customer and get referrals if you can clearly describe what you do.
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Think of the long-term value of the customer.
It's almost always better to retain a happy customer than to make a big fuss over a small issue in dispute.
Take care of your stars.
This goes for every company, big and small. The cost of losing a star employee is enormous, yet business leaders rarely take the time to ensure their top performers are properly motivated, challenged, and compensated.
Learn to say "yes" and "no" a lot.
The two most important words business owners and founders have at their disposal are “yes” and “no.” Learn to say them a lot. And that means being decisive. The most important reason to focus – to be clear on what your company does – is to be clear on all the things it doesn’t do.
Build a database of your current and former customers or clients.
Get in the habit of tracking every customer interaction, not just orders, and their specific needs and concerns. Then you can personalize your offers, emails, and rewards. And be sure to remember their birthday.
Run your business like a business.
Far too many entrepreneurs run their business like an extension of their personal finances. Bad idea. Construct the right business entity and keep it separate from your personal life.
Do everything with integrity.
Treat everyone fairly and honestly, including employees, customers, and vendors. Don't rationalize bad behavior by saying, "It's only business." Be someone worthy of respect.
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