Building A Successful Business

MadisonMadison Posts: 9subscriber Member
I am in the midst of starting a business and could use your wonderful tips that have helped you or others! Leave them below! Thanks

Comments

  • Ryan O'BlenessRyan O'Bleness Birmingham, Mich. Posts: 997administrator Site Admin
    Welcome to the community, @Madison

    What industry/field are you thinking of going into?
    Ryan O'Bleness
    Community Manager
    StartupNation, LLC
  • MadisonMadison Posts: 9subscriber Member
    Thank you @Ryan O'Bleness! I am launching a custom greeting card company in honor of my mother. I am looking for some great pointers and advice before I dive in!
  • JoeBrainHiveJoeBrainHive Posts: 1subscriber Member
    Hello Madison, what I can say is that one very practical initial step is finding out if a market exists for what it is you are trying to do. Having a good, solid business plan from the outset is very important, and then revisiting that business plan regularly will keep you on track and remind you of why you started this venture to begin with.

    To look at the competition through a magnifying glass, and that your financial plan needs to be in place. Have you worked on these already?



  • MadisonMadison Posts: 9subscriber Member
    @JoeBrainHive, I have started the business plan! I have also just started my market research. Do you have any tips for starting up in a competitive industry? Hallmark really dominates the greeting card industry and their prices are all over the place, I do offer slightly different services but I'm nervous my pricing won't be able to compete. All of the books I've read say to not worry so much about pricing but more on quality and marketing because there are people out there willing to pay your price, do you believe this to be true? 
  • Sandra YanceySandra Yancey Dallas , Texas , 75254Posts: 34subscriber Bronze Level Member
    To succeed in business today, you need to be flexible and have good planning and organizational skills. Many people have the talent, but not the right motivation and application. Very smart people with ambition often limit their success through simple mistakes. Follow these steps and you’ll be well on your way to creating a successful enterprise!
    • Analyze Your Competition
    • Find out what your market wants and build it for them.
    • Understand the Risks and Rewards
    • Use feedback from your customers to change and improve.
    • Don’t just focus on getting the sale. Focus on helping your customers succeed.
    • Branding is the perception you create in the marketplace to appeal to your target audience
    • Seek Advice
    • Look for ways to better serve your existing audience and customers.
    • Sharing your personal story can help create stronger connections with others.
    • As you achieve success in business, remember to pay it forward by helping others.
  • Anna GreenAnna Green Essex, CTPosts: 12subscriber Bronze Level Member
    Madison said:
    @JoeBrainHive, I have started the business plan! I have also just started my market research. Do you have any tips for starting up in a competitive industry? Hallmark really dominates the greeting card industry and their prices are all over the place, I do offer slightly different services but I'm nervous my pricing won't be able to compete. All of the books I've read say to not worry so much about pricing but more on quality and marketing because there are people out there willing to pay your price, do you believe this to be true? 
    I believe its true about make a plan on how to maintain quality and keep focus on marketing. It's very important in marketing to target relevant audience.
  • MadisonMadison Posts: 9subscriber Member
    To succeed in business today, you need to be flexible and have good planning and organizational skills. Many people have the talent, but not the right motivation and application. Very smart people with ambition often limit their success through simple mistakes. Follow these steps and you’ll be well on your way to creating a successful enterprise!
    • Analyze Your Competition
    • Find out what your market wants and build it for them.
    • Understand the Risks and Rewards
    • Use feedback from your customers to change and improve.
    • Don’t just focus on getting the sale. Focus on helping your customers succeed.
    • Branding is the perception you create in the marketplace to appeal to your target audience
    • Seek Advice
    • Look for ways to better serve your existing audience and customers.
    • Sharing your personal story can help create stronger connections with others.
    • As you achieve success in business, remember to pay it forward by helping others.
    I absolutely love this advice Sandra! Very insightful & helpful, thank you very much. You are much appreciated! 
  • MadisonMadison Posts: 9subscriber Member
    Madison said:
    @JoeBrainHive, I have started the business plan! I have also just started my market research. Do you have any tips for starting up in a competitive industry? Hallmark really dominates the greeting card industry and their prices are all over the place, I do offer slightly different services but I'm nervous my pricing won't be able to compete. All of the books I've read say to not worry so much about pricing but more on quality and marketing because there are people out there willing to pay your price, do you believe this to be true? 
    I believe its true about make a plan on how to maintain quality and keep focus on marketing. It's very important in marketing to target relevant audience.
    I agree, thank you very much! Do you have any advice as to how I can narrow down & find my target audience? 
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