Unleash Your Earning Potential

Business Tips & Tricks
Business Tips For Young Entrepreneurs

Starting your own business is a learning as you go project. Be prepared to make changes as you build and falter, build and rebuild while keeping a positive view on the project. Hold onto your passion and inspirations; the internal motivation that helped you to get started in the first instance. 

Here are some tips and advice to keep in mind as you build.

Browse through them, and return as they are updated regularly. 

Plan Your Steps To Success

Plan what you want to achieve and then determine the best way to succeed in doing it.

Make small lists for each step and tackle them one at a time.

Best Time to Start Your Business

The best time to start your business is while you are still gainfully employed.  It gives you the chance to accumulate the capital, experience, clientele and references you need to build your brand, your portfolio, your reputation.

Get Used To Networking

Don't try to do it all alone. Get used to networking and talking to people. Someone you talk to today may not get involved in your business right then, but they may do so later. Or they may know someone who may.

Market Your Business

Marketing your business takes some investment in patience. You create, communicate and deliver your 'product' but remember to be consistent in your marketing. Many persons will not consider your pitch until after their 7th or 8th ‘look’.

Know The Product

Even if you have never tried a product, dig for every bit of information you can find about it. Gather details of performance, quality, sizes, etc. from someone who has used it and get to know it as if you had actually tried it.  Know the product because if you know what you are selling, it will determine how you sell it. 

Know Your Customers

Get to know who your customers are and what their motivations for buying are. You can do this by creating surveys and offering a gift or discount for completing the survey. This way you can target the correct customer base.

Step into the Customer’s Shoes

When you are shopping, you are looking for the best deal, the pleasant service representative who can answer your questions to help you make an informed decision. Be that rep. Put yourself in the customer’s shoes and deliver the kind of service you would expect and appreciate.

Give Great Customer Service

The best way to keep your customers and to keep them coming back is through excellent customer service. Be aware that great customer service includes being true to your commitments, being honest with your customers, helping to solve their problems, not making promises you cannot keep and being easy to contact.

Go Prospecting

The key to prospecting is planning a mixture of regular activities: advertising, networking, join business clubs or groups, keeping in touch with existing customers, using direct mail, emailing, referrals and cold calling. When communicating with your prospect, work on building a relationship first. Be a source of information and assistance by sharing with these prospective customers your knowledge and expertise on your products or services.

Increase Your Sales

When trying to increase your sales, approach your existing customers first because you already have a relationship with them, and it costs at least 5 times more to attract new customers than to keep your existing customers. Do not neglect them as a two-time buyer is twice as likely to buy again as a one-time buyer. 

Besides the norm, consider partnership with companies that complement your products to help reduce your adverting budget. Use one type of popular media advertising in your niche to direct customers to the other where they can be more informed of your product or service.

Referral marketing – if you have not jumped on this yet, start asking your current customers for referrals. You’ll never know if you never ask.

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