Word is that the worst of the recession is behind us,
through many small business owners are still struggling. Customers seem to be
spending once again but they have changed their ways. Entrepreneurs must change
with them if they want their business to survive and eventually thrive. Whether
they work from home or in a
corporate office, business owners must make some changes.
The fundamental traits an entrepreneur must have, namely a
clear vision, commitment, determination, and basic business acumen, have not
changed. However, new strategies must be employed to do business in this
changing environment. The experts recommend implementing the following tips to
ensure business success as we emerge from very difficult times.
A business plan has never been more important, so create one
and commit it to writing. Include business goals, strategies for achieving
them, cash and financing required, and a marketing and sales plan. Keep it
concise but comprehensive and do not be afraid to make changes. Every business
plan requires tweaking now and then. Identify areas for improvement and develop
strategies to make the relevant changes.
Just because you have good ideas does not mean that no one
else does. Ask others to review operations, make suggestions, and serve as
counsel. These folks keep you accountable to commitments, help you deal with
difficult issues, and ensure that the business remains relevant. Though you may
be emotionally invested in the venture, make non-emotional decisions and do not
take anything personally.
Remember, this is a business, so develop written systems and
measurements that serve as checks and balances as well as guides for new
employees. Delegate to these workers and provide them with plenty of freedom.
Incorporate the Internet into promotional efforts because social media
networking is a great way to develop relationships with customers. Last, but
not least, have fun!
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