by Rahimah Sultan

As a new entrepreneur you need to follow certain rules for small business success. You need to quell the enthusiasm a bit and focus on starting out right to avoid later disappointment.

Here are 10 of the most important rules for small business success:

1. Start small and grow. Don’t try to sell to everyone. You need a niche – a specific product or service so that you’re not competing with everyone.

2. Concentrate on what will be the bread and butter of your business. Don’t try to implement all your entrepreneurial ideas at once. You can branch out later.

3. Make sure you have a product or service that customers really want.

4. Develop a business plan that forces you to think through the basic elements of your company, i.e. your market, competition, industry and your position.

5. Know your customers. If you have a clear target market you can be much more effective and efficient in both your product development and marketing efforts.

6. Build one business at a time. Concentrate on one new direction, product or service, one target market or one distribution channel at a time.

7. Don’t re-invent the wheel. Get a piece of an existing market. Creating a market for a brand-new type of product or service is difficult, time-consuming and expensive.

8. Double the estimate of the time and money you originally think you’ll need. Things cost more and take longer than planned.

9. Keep things short and use lots of photos. People don’t like to read.

10. Build strong customer relationships. People like to do business with those they know, like, and trust.

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by Rahimah Sultan

 
 

Operating a work from home business is the perfect opportunity for you to be your own boss provided you’re prepared to do so! Working alone can be very exciting however experiencing small business success at home requires 5 simple components or measures you must consider or take as reviewed below!

 

Structure

 

This is to say you’ll need to establish set working hours and not deviate from them simply because you’re working alone and can do what you please! Whether you work for somebody else or have decided to be your own boss, if you’re not productive your ‘paycheck’ will suffer as will your job security or business!

 

Self Motivation

 

Establishing the ‘proper’ environment is a well and good as mentioned above however without the proper motivation you’ll get little accomplished! Are you self motivated because if you’re not, trying to be your own boss will likely result in failure so this is something you MUST consider beforehand!

 

Remember, when working alone you’ll need not only to plan your work on a daily, weekly and monthly basis, but you’ll also need to work your plan! Motivation will be needed to not only work through problems that may arise, and they will, but to also resist the temptation to ‘take time off’ whenever you please just because you can!

 

Focus

 

The degree of small business success you may or may NOT experience is dependent upon the quality of effort you… Click to read more

 
 
 

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