Business Management, ERP
  Home Business Books Career Tips ERP Books Internet Business ERP Self Help Articles
 
Review Section
Oracle
SAP
NetSuite
Infor
Aplicor
Sage
Microsoft
Epicor
Dynamics AX
Dynamics CRM
Dynamics GP
Dynamics NAV
Dynamics SL
mySAP
Sage MAS 90
SAP Business One
Intacct
Tally
 
Management Section
What is Six Sigma?
Six Sigma Methodology
Lean Six Sigma
Process of Six Sigma
Six Sigma Benefits
Quality Improvement
Implementing JIT
On The Job Training
Training Guidelines
Effective Communication
Global Communication
Improve Interpersonal Skills
Leadership Qualities
Leadership
Leadership Activities
Charismatic Leadership
Leadership Failure
Leadership Traits
Maslow Hierarchy
Entrepreneur Management
Office Time Management
Time Management Tips
Boston (BCG) Matrix
Product Life Cycle
BPR
Problem Solving Tips
Negotiation Tips
Risk Management
Strategic Planning
Change Management
Workplace Strategy
E-Commerce Importance
Risk Analysis
 
Career Section
Resume Writing
Resume Cover Letter
Job Interview Questions
Become Web Designer
Start Doing Freelance Work
Self Employment Ideas
Become an Entrepreneur
Start an eBay Affiliate
Work as a Freelance Writer
Become a Webmaster
 
Feng Shui Section
What Is Feng Shui
Feng Shui Tips
For Wealth
For Office
For Prosperity
For Career
Remedies
Principles
Business Growth
Colors and Directions
For Good Luck
Office Interiors
Office Desk
Office Website
For Job
Home Office
 

Tips for Succeeding in Small Business

SocialTwist Tell-a-Friend


Starting a business venture is a dream for many people in the world. This article gives you great insights on what needs to be done to succeed in your small business venture.

Clarity on the Business Idea

Business idea is the most important factor in starting a business venture. Of course there are a lot of ideas in your mind but you need to choose the field in which you enjoy the most. If you like the programming and coding, you can not just go and start some interior design work. First step to succeed in the business is the clarity on the idea and whether you are suitable for the idea. If you do what you love, you can realize the results very sooner.

Ground Work in the Chosen Field

The market analysis is very important to know the potential of the product. You may love your idea but you should know whether your customer likes the idea. Even if your customer likes the idea, whether he is willing pay for your product or service? You need to carry a thorough marketing research on this so that you will have better chances to succeed.

Get Customer First

Just don't jump into all office setting work in the initial stage. The focus should be on getting clients. The money has to pour in from the customers. There is a lot of difference between spending your own money against customer money on setting up initial stages. Ensure you have at 3 to 4 clients so that you can start thinking about setting office and scaling up.

Finding a Mentor

Mentor plays an important role in your success. You need to have some senior person to help you in the catch-22 situations that you normally face in day-to-day business operations.

Keeping Enough Money in Hand

You should keep enough money for daily operations in the business. Ensure you get good amount of money lined up by which you should survive at least one year when your business is in doldrums. Many small business operations fail because of the cash flow problems. They could not able to sustain because of lack of money for the basic company needs.



Get your Legal Documents

Get the registration and tax related documents ready as many customers will ask for these documents. The probability of loosing a client is high if you don't have all these documents. Approach any near by Charted Accountant to finish this process as early as possible.

Only Idea

Never navigate from the idea. Perseverance is the most important factor for an entrepreneur. You need to wait till the business gets the breakthrough. Know your commitments, and tune to your idea irrespective of fatty opportunities and handsome salaries. Then only the zeal towards your idea fulfills.

Get the Right Partners

Be careful in choosing the partners. Get a partner, who should tolerate your idea, able to pull back you when you are out of the line.

Recruit the Best Candidates

Man power is the most important asset for the company. Recruit the people who can align their goals with company goals.

Values in the Business

Remember the quote by Azim Premji, famous Indian billionaire and Chairman of Wipro Software Company "I was brought up to believe that values are more important than Money". Just don't break values just for sake of earning money and getting customers.





 Read Related Articles

How to Use Viral Marketing Campaign to Promote Business
How to Organize Your Time to Start a Home Based Business
Top Tips to Succeed in Stock Market
Top Reasons to be an Entrepreneur

SocialTwist Tell-a-Friend
 
Subscribe to my feed
Join our Newsletter for FREE Entrepreneur Tips!
Enter your email address:

ERP Category

Definition  

History  
 
 
 
 
 
 
Features and Functions  
Fundamentals  
Software Selection  
Vendor Selection  
For SME  
For Manufacturing  
Low Cost Software  
Implementation Strategy  
Implementation Obstacles  
Web Based ERP  
Lean Manufacturing  
Failures and Prevention  
 
 
 
Implementation Best Practices  
Implementation Planning  
Implementation Risk Factors  
Effects on SME  
SAP HR  
SAP B1  
Microsoft Navision  
Infor Syteline  
SAP R/3 Architecture  
Future of ERP  
SAP B1 in India  
Books  
Myths and Facts  
FAQs  
Process Manufacturing  
CRM Trends  
Best CRM Practices  
CRM for FMCG  
What is SCM  
For Construction Firm  
For Garment Firm  
Internet Business

Home Business Ideas  
 
 
 
 
 
Make Money with Clickbank  
Niche Marketing  
Affiliate Marketing  
Work At Home  
Health Care Opportunities  
Entrepreneur Moms  
Twitter Marketing  
Web Based Opportunities  
Teen Entrepreneur  
  Home Business Books Career Tips ERP Books Internet Business ERP Self Help Articles
Business Communication Entrepreneur Ideas Self Employment Accounting Software
ERP Companies ERP Consultant ERP Job Training Software-as-a-service
SAP Courses Small Business Ideas GAP Analysis Sitemap XML (1, 2)


Copyright © NickMutt.com All Rights Reserved.