A list of 14 criteria that make a small business successful


know small business phone inside out. Be knowledge source in your niche. Small businesses thrive with expertise. In difficult economic times a small business owner needs to hone their skills, cut back their share to the essentials and learn to be aggressive marketers.

You will see some small businesses that thrive no matter what the economic situation is. They seem to just have to know how. Essentially, however, there are some very important criteria that makes a small business successful

Following are 14 business skills you need to have

– Making sure you are selling a product or services. which is in demand

– have sufficient start-up capital

– have sufficient back-up funds to finance business and personal expenses Healing

– Good legal advice regarding the lease or legal obligations you have to do

– Maintaining sound accounting and strict budgets

– Being known as a source of information in your niche

– well-trained staff

– Giving above average customer service

– Consistently give good customer service

– To be a source of information (supply products)

– Choosing the right location for your business

– Attitude and determination to succeed

– Marketing your business well (a must for success)

– which includes a marketing plan and organized a campaign

Let me say at this point, if you are considering going into business and have established that there are skills you need to learn, then take time before outlaying capital, to get these skills. As soon as you start to operate your business, you must focus on the sale and get your business running smoothly. Learn new skills will be the last thing on your mind.

keep good RECORDS

In a lot of cases, even financially minded people, hate keeping their own records. When a small business owner so much emphasis on being well, the thought of sitting down and keep records up to date is the last thing on their minds.

Unfortunately, more people in the business because of bad financial records and lack of resources, but for other reasons. If you do not know what is going in and out of your business, how do you know if you are making a profit.

Payments businesses are the worst. You see all this money sitting there, which is exciting, but it’s so easy to remember the invoice file that is filling up with bills to pay. With cash business it will be important to keep tight control over cash and records of income and expenditure. It’s so easy to say. “Oh, I’ll just grab a few dollars and go out to eat” The trouble is, if you are tired and busy, you could just start doing that too many nights a week!

A lot of small businesses employ a bookkeeper because they just do not keep up with their own records. Paid by the hour, it is well worth it. Note that I am talking about a bookkeeper, not an accountant at this stage.

At the end of each fiscal year, the returns done early by an accountant, and then you know where you stand for next year

POSITION not keep you in business -. Knowledge does

You may have heard the term “knowledge is power. It is so true.

Personality can win some extra business, but if you do not have the knowledge to back it up, the Sorry, your customers will leave.

Everyone likes to do business with friendly people, but at the end of the day, we expect a good return for our dollars spent. Customers can quite quickly turn cranky if they feel they are ‘ripped off.

To ensure that your small business is going to succeed, to address all of these items in the list. Each and every one has its own merits and its own influence on the success of a small business. It is time to reassess your business, your own skills and those of your staff. Who needs retraining. Customer service is paramount. Are you all give excellent customer service? Can you cut costs without business. Look at the list again and see what you have to do to get your business over the next few years.

Copyright (c) 2008 Kaye Dennis


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