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What are the key points to run any business without failure?
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These ones are the most important in my opinion.
1.Great product.
2.Excellent resources & financial records.
3.Excellent marketing skills.
4.Ensure that each job function should have a current job description on file.
5.Create Standard Operating Procedures (SOP).
6.Develop critical factors of success for the future performance of the successor.
I'm also adding here the 6 Keys matrics to Start a Successful Business.
1. Is your concept unique?
2. Do you have barriers to entry?
3. Choose an emerging market.
4. You need a good network.
5. You have to have passion.
6. Have good credit.
Considering these all point can lead the business successfully.
Do your own research. You want to make sure you understand the industry you'll be involved in so you can dominate. No matter how unique you might think your business idea is, you should be aware of competitors.
Hire help. Starting a business should not be an independent journey, no matter how tempting. Hiring help along your journey will set you up for success.
Find out the needs of your customers. After identifying a problem in a specific industry and creating a business plan that can potentially solve it, validate the idea and business plan. It is possible to do this by picking up the phone and calling the types of potential customers who face the identified problem.
Once you find out what people actually want to buy, make massive attempts to connect with that audience, engage with that audience, become a trusted name to that audience.
The reason I feel like this should be done before all of the other technical components of your business, is because as long as you have an audience that trusts you, you will never go out of business from lack of sales. Even if you have the most effective and efficient business strategie, you will go out of business if you don't have an audience to sell to.
Work hard, hustle everyday as if you dont fight that day your company is gonna die and keep repeating.
All the best
Find out the weak stone
Pitch deck to right people
No to Marketing in last
customer is the king
Set your brand according to the competitive market
Investors to avoid