Jun 05

7 Tips on how to Develop a Small Business

Posted by Mitch Uzelac at Thursday, June 05, 2014

There a many things you need to do to build a successful business. Here are seven top tips :  

Must focus functions: 
1. Leadership & Direction  
2. Marketing & Sales  
3. Product & Service Fulfilment  
4. Administration & Finance.

Delight your customers. Focus on their needs rather than on getting them to accept what you have to offer. Surveys show that most customers change suppliers because of the perception that their current supplier doesn’t care about them. So focus on delighting them.

Get good people around you. This applies to mentors and mastermind groups - people with experience from whom you can learn, gather ideas and fast-track your success. It also applies to your advisers and to the people you employ as your business grows.

Work 'on your business, not just 'in' your business. It is easy to get so focused on the demands of delivering products and services that we ignore the other elements of building the business. Allocate time to work on things such as your marketing, strategic direction, planning, and both personal and business growth.

Learn and implement. We received an email from a client recently thanking us for introducing them to a Xero 'add on' because it dramatically increased their efficiency and productivity saving them $000's of dollars. The key message here is that they implemented the information received. Knowledge without implementation is just knowledge. Knowledge plus implementation equals unbelievable results.

Make sure that you have passion and that comes through all facets of your business

Remember that your business is a means to an end, not an end in itself. To be successful in business you need to lead a balanced life so don’t become so absorbed in your business that it becomes your life and everything else falls down around you.

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