Altcoins Talks - Cryptocurrency Forum
Further Discussions => Entrepreneurship , Business & Online Work Forum => Topic started by: Dr.Bitcoin_Strange on February 03, 2024, 11:46:39 PM
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We know, that there are so many facts that can contribute to a successful business. So, for those that are entrepreneurs and those that have entrepreneural spirit, what is the major fact that contributes to the success of a business?
In a simple sentence from experiences and knowledge I have acquired, I can mention the following characteristics.
1: Having a correct mindset as an entrepreneur can drive success.
2: Siting your business in a good location can drive success.
3: Understanding the kind of business you do and finding the right market for it. For example, if you sell „x“ Items, find a market where „x“ Items are mostly needed. Don't go to market that "y" Items are needed most.
4: Maintain a good customer-relationship, and you will definitely be able to win the hearts of so many customers, and with a good customer-relationship, it can bring about customers loyalty.
There are more, which I would love you guys to mention and also specify the ones that I think are the major drives.
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There are many things that drives the success of a business such as a good location for the business, knowing how to treat your customers, having the mindset of becoming a good successful business owner etc
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There are many things that drives the success of a business such as a good location for the business, knowing how to treat your customers, having the mindset of becoming a good successful business owner etc
Most of these are on OP's list, aren't they? I failed to see what new factors you mentioned there.
Another factor is probably luck. I'm referring to timing and opportunity, plus capital available to a business owner at any given time. For example, opening the first marketplace near your city where nobody can be your competitor while having the means plus time to do so will likely drive you to success compared to opening the 10th or 11th marketplace in your city. CMIIW. Some of the businesses that are popular in my country are the first ones in their respective market, which is hard to dethrone given that they always improve by looking at what features can they take from their competitors.
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Many factors contribute to a business's success, including location—if you have or maintain a good location, people will be drawn to visit; additionally, if you want your business to grow and succeed, you must be a friendly person who always smiles because this makes people happy and, in doing so, you have won the hearts of the people (your customers); finally, as customers can at times be annoying, knowing how to avoid them is also important to the development of your business; self control and patience also pay off.
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All the characteristics of a successful business which you have mentioned is correct but I think the most important one that yield a massive result is the location of a business. If a business is set in a bad location where there is no consumers for goods being sold in that location, the seller would not make any sales and when they don't sell off their products, there is no way their business can be successful.
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Yes, I agree with you on those points you mentioned. Good location, customers relationship etc. You can also bring in new innovations, advertising your business on social media or media houses. Given discounts and bonus attract more customers, that will help to improve the success of your business.
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3: Understanding the kind of business you do and finding the right market for it. For example, if you sell „x“ Items, find a market where „x“ Items are mostly needed. Don't go to market that "y" Items are needed most.
This is very important you need to understand the business because entrepreneur who understands the market and how to run their business are the ones likely to succeed, they know how to address issues, and they know what the customers want and needs never go to the business because it's the trending business, because you will be exposed as someone who is naive and does not understand what the client needs, there should passions n the business, the passion starts with understanding the market.
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3: Understanding the kind of business you do and finding the right market for it. For example, if you sell „x“ Items, find a market where „x“ Items are mostly needed. Don't go to market that "y" Items are needed most.
Every entrepreneur or business person should aim at solving a particular problem in the society. Before you set up a honey store, you might have already seen that honey is very scarce in that area, hence the need to supply to the people while you get rewards for your product. You know what you want and who your target market is.
Most businesses fail because the business owners have no clue at all the problem they intend to solve in a particular area. They introduce products or services in areas where the market already has enough of it or they don't need them at all. Most businesses are only Interested in making sales and get profits, while paying little attention to market feedbacks.
If you know the problem you intend to solve, deciding on the type of business will be easy and it will also enable you go straight to your target market and not just any market at all. Those who often enter a business line because they feel its profitable often get discouraged when they are faced with challenges
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1: Having a correct mindset as an entrepreneur can drive success.
There are many factors to be considered that drives the success of a business. I agree with you, but your number one point covers the whole thing entirely.
Having a positive and correct mindset as an entrepreneur is the key factor that generally comes first in every business or organization.
If you have the correct mindset of an entrepreneur, then the other factors will be easy for you to scale through in your business.
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We know, that there are so many facts that can contribute to a successful business. So, for those that are entrepreneurs and those that have entrepreneural spirit, what is the major fact that contributes to the success of a business?
In a simple sentence from experiences and knowledge I have acquired, I can mention the following characteristics.
1: Having a correct mindset as an entrepreneur can drive success.
2: Siting your business in a good location can drive success.
3: Understanding the kind of business you do and finding the right market for it. For example, if you sell „x“ Items, find a market where „x“ Items are mostly needed. Don't go to market that "y" Items are needed most.
4: Maintain a good customer-relationship, and you will definitely be able to win the hearts of so many customers, and with a good customer-relationship, it can bring about customers loyalty.
There are more, which I would love you guys to mention and also specify the ones that I think are the major drives.
Driving the factors of a business man are quite impressive in the sense that there are risk involves and he or she will try new things even if there is a fall. Another one is vision a successful business personnel needs a clear vision for their company growth and stay focused on that vision even when things aren't going the way they wanted it. We also need connections because keep it in a longrun we need the right people that will tell others about you and your business on how you welcome them in every aspect. Lastly money, we all need money to make our business flow to other place not only in our environs, but to diverse it in different ace around the world.
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"There are more, which I would love you guys to mention and also specify the ones that I think are the major drives.
They are several qualities that drive the success of a business. Because is not all about having money you can put a millions dollars in a business and if you don't have the qualities to drive the business the money will senk and the business will close down.
Based on my own opinion, qualities that drive the business to success are, physical preparation, financial preparation, mental toughness and persistence.
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2: Siting your business in a good location can drive success.
Correct, and above all know the kind of business that will strive in that good location you have found to do your business in.
I believe every good location has the kind of business that is supposed to strive in that location so that someone can't start a business that will not be favorable to start up in that given location or have many of that same business going on that location.
I will suggest one before they start up a business in a good location, let them do a market survey of what will be in demand most in the area they want to start up the business in. Someone can't find a good location and begin to sell what will not be much dependent on location.
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We know, that there are so many facts that can contribute to a successful business. So, for those that are entrepreneurs and those that have entrepreneural spirit, what is the major fact that contributes to the success of a business?
In a simple sentence from experiences and knowledge I have acquired, I can mention the following characteristics.
1: Having a correct mindset as an entrepreneur can drive success.
2: Siting your business in a good location can drive success.
3: Understanding the kind of business you do and finding the right market for it. For example, if you sell „x“ Items, find a market where „x“ Items are mostly needed. Don't go to market that "y" Items are needed most.
4: Maintain a good customer-relationship, and you will definitely be able to win the hearts of so many customers, and with a good customer-relationship, it can bring about customers loyalty.
There are more, which I would love you guys to mention and also specify the ones that I think are the major drives.
All the factors mentioned here are crucial to drive the success of a business. The absence of the right mindset, good environment, good customer relations, and understanding of the business as you mentioned is inevitable. In addition, good adverts and bonus packages are important to attract potential customers because the success of a business is measured by its customers. This is why the sustainability of a business depends on the customers.
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Aside from all the things that our community said here, it's all true don;t get me wrong. Tho what drives the success of a business comes with a good leader. A good leader and not a boss. A boss will manage the employee, while a leader will inspire his team to do more so all of them will become successful
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Aside from all the things that our community said here, it's all true don't get me wrong. Tho what drives the success of a business comes with a good leader. A good leader and not a boss. A boss will manage the employee, while a leader will inspire his team to do more so all of them will become successful
This is vital when you look at the employer-employee relationship. The relationship can drive the success of a business. When a business manager inspires the employee, they will work assiduously to ensure that there is growth in the business. When workers are motivated their productivity increases because a happy worker is a tool for the organization.
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There are more, which I would love you guys to mention and also specify the ones that I think are the major drives.
Learn from the experiences and stories of successful people, to be successful in business you need the ability to execute plans, set targets to achieve results, tips for success in business are:
1. Start on a small scale so you can create a strong foundation, strategic steps that have a big impact on business progress.
2. Create and develop a business plan, so that creative ideas are accommodated and can be realized
3. Ready to face challenges and challenge yourself to take risks with measured calculations and confidence
4. Do it yourself or be directly involved in every level and aspect of the business, so that when a problem occurs we can determine the exit door.
5. Find and form a team that is solid, competent and has a wow effect, one man shows are very tiring.
6. Start building and expanding working networks for business sustainability and expansion.
7. Always invest in self-development
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3: Understanding the kind of business you do and finding the right market for it. For example, if you sell „x“ Items, find a market where „x“ Items are mostly needed. Don't go to market that "y" Items are needed most.
Every entrepreneur or business person should aim at solving a particular problem in the society. Before you set up a honey store, you might have already seen that honey is very scarce in that area, hence the need to supply to the people while you get rewards for your product. You know what you want and who your target market is.
Most businesses fail because the business owners have no clue at all the problem they intend to solve in a particular area. They introduce products or services in areas where the market already has enough of it or they don't need them at all. Most businesses are only Interested in making sales and get profits, while paying little attention to market feedbacks.
If you know the problem you intend to solve, deciding on the type of business will be easy and it will also enable you go straight to your target market and not just any market at all. Those who often enter a business line because they feel its profitable often get discouraged when they are faced with challenges
I agree with everything that you said. Another thing I consider helpful in one's business is to have a discount amount on your own price to make it a little bit cheaper, as that will attract customers from far and near to always patronize you, since there is competition out there. Good customer relationship is important because you need to get feedback from them based on your service that you are rendering to them. This will enable you to improve in your business by tackling any complains in the right way and solving that problem.
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Another factor is probably luck. I'm referring to timing and opportunity, plus capital available to a business owner at any given time. For example, opening the first marketplace near your city where nobody can be your competitor while having the means plus time to do so will likely drive you to success compared to opening the 10th or 11th marketplace in your city. CMIIW.
I think it is not about luck, but it is how to optimize the chance of success.
When you becomes the pioneer of a certain business in your city, you have analyze the potential of the success and the failure. You must be brave to run the business according to your own research. It is impossible if you only run the business carelessly without any considerations. No one wants to gamble with their business, it is too bad if there is someone who gambles with a certain business.
Some of the businesses that are popular in my country are the first ones in their respective market, which is hard to dethrone given that they always improve by looking at what features can they take from their competitors.
The owners of the businesses must know how to maintain their market. They must always improve their services and the quality of their products. If there is no innovation in the businesses, it must be overtaken by new competitors. The pioneer of certain businesses may have its own advantages. However, if they can't have a proper way to maintain the businesses, it must fail to survive a long time.
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There are more, which I would love you guys to mention and also specify the ones that I think are the major drives.
Learn from the experiences and stories of successful people, to be successful in business you need the ability to execute plans, set targets to achieve results, tips for success in business are:
1. Start on a small scale so you can create a strong foundation, strategic steps that have a big impact on business progress.
2. Create and develop a business plan, so that creative ideas are accommodated and can be realized
3. Ready to face challenges and challenge yourself to take risks with measured calculations and confidence
4. Do it yourself or be directly involved in every level and aspect of the business, so that when a problem occurs we can determine the exit door.
5. Find and form a team that is solid, competent and has a wow effect, one man shows are very tiring.
6. Start building and expanding working networks for business sustainability and expansion.
7. Always invest in self-development
seems like you are a business owner mate? since you have this whole set of advise that I believe only experienced business owner knows how to deliver.
i will keep that in mind because this is one of the most valuable comment i've read as i wanted to expand my business also .
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Some of the businesses that are popular in my country are the first ones in their respective market, which is hard to dethrone given that they always improve by looking at what features can they take from their competitors.
The owners of the businesses must know how to maintain their market. They must always improve their services and the quality of their products. If there is no innovation in the businesses, it must be overtaken by new competitors. The pioneer of certain businesses may have its own advantages. However, if they can't have a proper way to maintain the businesses, it must fail to survive a long time.
Yes this must be the case. There are smart business owners who can manage to do well with their business for a longer period of time. We all know that the trend in businesses can easily be exchange with a new trend or what most people call as seasonal.
However, it is indeed hard to overcome those kind of businesses that's why it is better not to think of it. Focusing solely on the progress and development of your own business is a must and never look on the progress of other business competitors. Because if you always look at the other people's business, there would be a limitation on the imagination that you can have for the better of your business.
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There are more, which I would love you guys to mention and also specify the ones that I think are the major drives.
Entrepreneurship can be very discouraging, and even if an entrepreneur has other factors necessary to make the business successful, if the entrepreneur loses passion and commitment to their business, the business will collapse hence before you venture into the field of entrepreneurship make sure that what you're about to start is something that you are passionate about because it is the passion that you have that will keep the business going even when you are about to feel discouraged.
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Entrepreneurship can be very discouraging, and even if an entrepreneur has other factors necessary to make the business successful, if the entrepreneur loses passion and commitment to their business, the business will collapse hence before you venture into the field of entrepreneurship make sure that what you're about to start is something that you are passionate about because it is the passion that you have that will keep the business going even when you are about to feel discouraged.
For entrepreneurship to flourish in a country, it's not just their personal factors and activeness that made them successful, the country where an entrepreneur established a business is very important and if it doesn't favor you, there is no way the business is going to flourish and do well, the government has to be supportive in many ways.
Entrepreneurs can be successful without the government backing such a loan, graft and overdraft for them to do well, they need a stabilize currency without too much of inflation, unsteady of these shake every entrepreneurs and it discourage them.
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Yes, I agree with you on those points you mentioned. Good location, customers relationship etc. You can also bring in new innovations, advertising your business on social media or media houses. Given discounts and bonus attract more customers, that will help to improve the success of your business.
Yes, you are right, all this things you have mentioned are really the most important thing that drives customer most faster without any stress, as far as you are doing the right thing like giving out discount to customers will really be of help in order for business to grow, because pepper like it when they are being given discount or bonus in whatever thing they purchase.
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We know, that there are so many facts that can contribute to a successful business. So, for those that are entrepreneurs and those that have entrepreneural spirit, what is the major fact that contributes to the success of a business?
In a simple sentence from experiences and knowledge I have acquired, I can mention the following characteristics.
1: Having a correct mindset as an entrepreneur can drive success.
2: Siting your business in a good location can drive success.
3: Understanding the kind of business you do and finding the right market for it. For example, if you sell „x“ Items, find a market where „x“ Items are mostly needed. Don't go to market that "y" Items are needed most.
4: Maintain a good customer-relationship, and you will definitely be able to win the hearts of so many customers, and with a good customer-relationship, it can bring about customers loyalty.
There are more, which I would love you guys to mention and also specify the ones that I think are the major drives.
Business success depends on key factors. Innovation allows your business to stay competitive by improving your product or service. Financial management will enable you to manage your budget wisely and maintain profitability. Adaptability allows you to adapt to changes in the market. Effective marketing helps you reach your audience, and strong leadership guides your team. Providing quality products and maintaining good customer relationships will build loyalty and promote long-term success.
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Business success depends on key factors. Innovation allows your business to stay competitive by improving your product or service. Financial management will enable you to manage your budget wisely and maintain profitability. Adaptability allows you to adapt to changes in the market. Effective marketing helps you reach your audience, and strong leadership guides your team. Providing quality products and maintaining good customer relationships will build loyalty and promote long-term success.
I couldn't agree more with you, I think you've made quite an impressive summary of the whole thing, the various key factors you've listed above are indeed very crucial when it has to do with driving business success, as well as business sustainability. When a businessman chooses to prioritize innovation, adaptability, financial management, strong and effective marketing strategy, strong leadership, quality products and finally good customer relationships, the business will indeed stay ahead in the competitive market and can easily achieve their goals. Although it takes a lot to be able to apply all of these, it takes dedication, a great deal of hard work and commitment, but you can be quite sure that if you're able to make the proper sacrifices, the rewards will indeed be worth the sacrifices.
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Consistencies, determination and experience, if all these were meant, then a business is likely to hold and be sustained for long, many are just eager to start doing a business but they lack the necessary and adequate preparations needed to be in place in other for them to achieve a better result form doing it, there is a standard culture in which every business model have to follow and this have to start with the management and resources of the business, location and target mode of engagement and their likes in other to have up to expectation.
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What you have to offer to the people is one of the most important drive for a business to strive and exist, some will look into a specific area in which there is high demand of needs or solution needed and they will fit in such gap and take opportunity by what they have to offer, also, knowing how to sustain a business is an effective means to see it work out as we have expected, and this have to do with business management skill we have acquired.
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Aside these aforementioned factors you have listed that a successful business can be driven by, there are others which are; staying innovative, Effective marketing, Effective branding, and sound financial management which to me should be seen as the most important of them all because every business needs finance and if it is not managed by the right hands, the business is destined to suffer alot of damages...but all these factors combined are very crucial to sustaining long-term success in any good business.The synergy between these factors often determines the total outcome.
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To start a business one has to undertake a specific project and then start with strategy, funding, patience, planning everything. You first start the business by setting up a department store in your area. You notice exactly which type of product is in high demand in that area. Run your business with products that will be in high demand. Work patiently according to the plan for a few days and then expand your business. In the beginning, don't just work for profit so offer various perks to attract the mind of the buyers first of the business. Your business may be small or large in size but always work towards customer satisfaction. Because the more customers like your service then the faster you can become a successful businessman.
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We know, that there are so many facts that can contribute to a successful business. So, for those that are entrepreneurs and those that have entrepreneural spirit, what is the major fact that contributes to the success of a business?
In a simple sentence from experiences and knowledge I have acquired, I can mention the following characteristics.
1: Having a correct mindset as an entrepreneur can drive success.
2: Siting your business in a good location can drive success.
3: Understanding the kind of business you do and finding the right market for it. For example, if you sell „x“ Items, find a market where „x“ Items are mostly needed. Don't go to market that "y" Items are needed most.
4: Maintain a good customer-relationship, and you will definitely be able to win the hearts of so many customers, and with a good customer-relationship, it can bring about customers loyalty.
There are more, which I would love you guys to mention and also specify the ones that I think are the major drives.
All the points that you raised here are good and will go a long way in making sure that business success is achieved but one thing that I will like to add is business innovation skill this is key if one is to grow his business because the fact is the business environment is Harsh and very tough so if you're to have a successful business then you need to come up with innovative ideas that others are not using so that you do this differently from others, being innovative is key as your business will be the pace setter for others to follow another thing that will help in growing business is a good management skills as the success of every business depends on your ability to manege and take care of the business your self
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All the points that you raised here are good and will go a long way in making sure that business success is achieved but one thing that I will like to add is business innovation skill this is key if one is to grow his business because the fact is the business environment is Harsh and very tough so if you're to have a successful business then you need to come up with innovative ideas that others are not using so that you do this differently from others, being innovative is key as your business will be the pace setter for others to follow another thing that will help in growing business is a good management skills as the success of every business depends on your ability to manege and take care of the business your self
Severally I've seen lots of businessmen and women make this mistake of opening a new business and then immediately employing a salesperson to manage the business, trusting the fate of the business in the hands of the salesperson, in most cases, this salesperson is always a randomly picked person, a total stranger and someone who they're not even sure has the qualifications and expertise in business management.
This is a very terrible mistake entrepreneurs should avoid, it's not wrong to hire a salesperson, but its wromg to leave everything in the hands and control of such person while you go about other businesses, especially when the business is still relatively new, you need to be there to supervise every activities forst, monitor his progress and if you feel that the person can effectively manage the business in your absence then fine and okay, you can leave him in charge and only come back to check on how things are going at the end of every day.
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What drives success in a business can be relative as what brings success in one business might cause set back in another. However, commitment, honesty and integrity have proven beyond reasonable doubt to be responsible for the growth and successes of so many businesses
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All the points that you raised here are good and will go a long way in making sure that business success is achieved but one thing that I will like to add is business innovation skill this is key if one is to grow his business because the fact is the business environment is Harsh and very tough so if you're to have a successful business then you need to come up with innovative ideas that others are not using so that you do this differently from others, being innovative is key as your business will be the pace setter for others to follow another thing that will help in growing business is a good management skills as the success of every business depends on your ability to manege and take care of the business your self
Severally I've seen lots of businessmen and women make this mistake of opening a new business and then immediately employing a salesperson to manage the business, trusting the fate of the business in the hands of the salesperson, in most cases, this salesperson is always a randomly picked person, a total stranger and someone who they're not even sure has the qualifications and expertise in business management.
This is a very terrible mistake entrepreneurs should avoid, it's not wrong to hire a salesperson, but its wromg to leave everything in the hands and control of such person while you go about other businesses, especially when the business is still relatively new, you need to be there to supervise every activities forst, monitor his progress and if you feel that the person can effectively manage the business in your absence then fine and okay, you can leave him in charge and only come back to check on how things are going at the end of every day.
You're right! A lot of business owners make the mistake of hiring a salesperson and letting them run everything, especially when the business is new. This can be a problem if you don’t really know the person or if they’re not qualified. It’s fine to hire people, but at the start, you should stay involved and make sure everything is going well. Once you're confident that the person can handle things, then you can trust them more.
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Maintaining a customer base relationship is what sustains a business more than any other thing. A businessman or woman can have all you mention for a successful business but if his or her relationship with the customer is not running on a smooth scale, the business can be affected because there are no customers to buy the goods that are being sold. It's customers that will buy the goods that are to be sold. Without them, your business dies off
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The success of every business is the profit, when there is profit the business keeps going but when there is lose in the business it might end up folding. Profit is the only driving force not even customers you can have customers and your business still folds but when you make your business your number one choice it will give you the zeal to be serious and seriousness will trigger the success of the business.
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The success of every business is the profit, when there is profit the business keeps going but when there is lose in the business it might end up folding. Profit is the only driving force not even customers you can have customers and your business still folds but when you make your business your number one choice it will give you the zeal to be serious and seriousness will trigger the success of the business.
When your business is profitable and you are doing well with it, that is when you are doing well in market and you are progressing, this is absolutely right. But I disagree with the notion that customers aren't crucial to a business's survival. You mentioned that making a profit is a key indicator of success in trading. However, without customers purchasing your goods or services, it's impossible to generate profits. Therefore, customers play a vital role in determining a business's success.
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The success of every business is the profit, when there is profit the business keeps going but when there is lose in the business it might end up folding. Profit is the only driving force not even customers you can have customers and your business still folds but when you make your business your number one choice it will give you the zeal to be serious and seriousness will trigger the success of the business.
When your business is profitable and you are doing well with it, that is when you are doing well in market and you are progressing, this is absolutely right. But I disagree with the notion that customers aren't crucial to a business's survival. You mentioned that making a profit is a key indicator of success in trading. However, without customers purchasing your goods or services, it's impossible to generate profits. Therefore, customers play a vital role in determining a business's success.
Profit is important for a business to survive, but customers are just as important. Without customers, there are no sales and no profit. A business needs both happy customers and good profits to grow and succeed.
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Profit is important for a business to survive, but customers are just as important. Without customers, there are no sales and no profit. A business needs both happy customers and good profits to grow and succeed.
Profit and customers will come when the puzzles are properly filled. It is incorrect for a businessman to think of profit when the basic structure of a business is not strong. If you do the fieldwork correctly, you will attract customers.
This is analogous to a student who has been admitted but is more concerned with getting a first-class grade than with studying. Certainly, his first-class ambition will be dashed due to his failure to study. So it is in business.
The amount of profit you make will be determined by the structure of the business. If the business is built on a solid foundation, profit is guaranteed.
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The heart of any business is it's customers. If there are no customers will there be any business? If one knows how to treat his customers right his business will flourish. Customer knowledge and psychology is key
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There are many things that drives the success of a business such as a good location for the business, knowing how to treat your customers, having the mindset of becoming a good successful business owner etc
You have said it all. The importance of a good location can hardly be over emphasized. A good location entails closeness to raw materials, closeness to consumers, closeness to the market and so on and so forth
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"There are more, which I would love you guys to mention and also specify the ones that I think are the major drives.
They are several qualities that drive the success of a business. Because is not all about having money you can put a millions dollars in a business and if you don't have the qualities to drive the business the money will senk and the business will close down.
Based on my own opinion, qualities that drive the business to success are, physical preparation, financial preparation, mental toughness and persistence.
I quite agree so much with the last attribute that drives a good business. Persistence is key, a good business will definitely pay off but time and consistency is a very prominent and important factor
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There are many things that drives the success of a business such as a good location for the business, knowing how to treat your customers, having the mindset of becoming a good successful business owner etc
You have said it all. The importance of a good location can hardly be over emphasized. A good location entails closeness to raw materials, closeness to consumers, closeness to the market and so on and so forth
Things have changed a lot, people are ready to visit even if a place is far away from the prime location, and competition increased so raw materials can be purchased from other side of the world too, all we need is clear plan of what we do and how to get the best output. The most lacking thing in a small business is the customer handling, employees seems to be not that welcoming and one who hired the right ones will get the repeated customers for sure.
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I quite agree so much with the last attribute that drives a good business. Persistence is key, a good business will definitely pay off but time and consistency is a very prominent and important factor
Yes, this is often why most businesses fail even before it’s given a chance to mature into something big is lack of patience and consistency. Most business owners lack these qualities which In fact are the major factors that drives a business to success. They start a business today and they already have a big picture of how big the business needs to be in the next few months without realizing that businesses should be allowed the opportunity and time to grow gradually, they’re like kids, at that very first stages of startup, they’ll require even more from you than they can give in order to grow and mature into something bigger and then start giving more than it takes.
Another mistake business owners make is comparing their businesses to that of the next person, there’s nothing wrong with drawing inspiration from the next person, but comparison? That’s a big no. Because you really don’t have an idea of how much effort, time and resources the next person have invested into that business to achieve what you see.
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We know, that there are so many facts that can contribute to a successful business. So, for those that are entrepreneurs and those that have entrepreneural spirit, what is the major fact that contributes to the success of a business?
In a simple sentence from experiences and knowledge I have acquired, I can mention the following characteristics.
1: Having a correct mindset as an entrepreneur can drive success.
2: Siting your business in a good location can drive success.
3: Understanding the kind of business you do and finding the right market for it. For example, if you sell „x“ Items, find a market where „x“ Items are mostly needed. Don't go to market that "y" Items are needed most.
4: Maintain a good customer-relationship, and you will definitely be able to win the hearts of so many customers, and with a good customer-relationship, it can bring about customers loyalty.
There are more, which I would love you guys to mention and also specify the ones that I think are the major drives.
Also having enough capital and knowing when and how to channel the capital into the business is another means, imagine someone no matter how successful he is if he runs out of cash to support the whole business goes down.
Another way is to have a good marketing strategy. You can be in a market that don't require your good but with your good marketing strategy, you get to convince them on the importance of your product.
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Another way is to have a good marketing strategy. You can be in a market that don't require your good but with your good marketing strategy, you get to convince them on the importance of your product.
I believe this is one of the most essential aspects of a successful and thriving business. Not every business owners knows how exactly to pitch or advertise their products and convince the general public to opt in to their products or services. But those who have mastered this act knows how to drive the market.
Another thing is having a good communication skill. There’s this guy I know who owns a grocery store, and whenever I go there to get groceries, this guy would first of all greet and welcome me warmly and then try to engage in a friendly conversation with me, and he never forgets to either compliment my perfume, my new haircut, clothes and other stuffs, and I believe that’s what’s making his business to thrive and have more engagement than the others who are around there.
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Another way is to have a good marketing strategy. You can be in a market that don't require your good but with your good marketing strategy, you get to convince them on the importance of your product.
I believe this is one of the most essential aspects of a successful and thriving business. Not every business owners knows how exactly to pitch or advertise their products and convince the general public to opt in to their products or services. But those who have mastered this act knows how to drive the market.
Another thing is having a good communication skill. There’s this guy I know who owns a grocery store, and whenever I go there to get groceries, this guy would first of all greet and welcome me warmly and then try to engage in a friendly conversation with me, and he never forgets to either compliment my perfume, my new haircut, clothes and other stuffs, and I believe that’s what’s making his business to thrive and have more engagement than the others who are around there.
Yeah, marketing and good communication really help a business grow. Even if people don’t need your product at first, a good strategy can change their minds. That grocery store guy is a great example. His friendly approach and small compliments make customers feel welcome and that’s why they keep coming back. Small gestures can make a big difference.
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Another way is to have a good marketing strategy. You can be in a market that don't require your good but with your good marketing strategy, you get to convince them on the importance of your product.
I believe this is one of the most essential aspects of a successful and thriving business. Not every business owners knows how exactly to pitch or advertise their products and convince the general public to opt in to their products or services. But those who have mastered this act knows how to drive the market.
Another thing is having a good communication skill. There’s this guy I know who owns a grocery store, and whenever I go there to get groceries, this guy would first of all greet and welcome me warmly and then try to engage in a friendly conversation with me, and he never forgets to either compliment my perfume, my new haircut, clothes and other stuffs, and I believe that’s what’s making his business to thrive and have more engagement than the others who are around there.
Yeah, marketing and good communication really help a business grow. Even if people don’t need your product at first, a good strategy can change their minds. That grocery store guy is a great example. His friendly approach and small compliments make customers feel welcome and that’s why they keep coming back. Small gestures can make a big difference.
The role of marketing in the success of any business is something that cannot be downplayed due to the fact that it's the link between your business and the target audience that you projecting the business for because marketing takes your business to the people in terms of creating awareness about your business, this is the reason why marketing tools like advertisement has been utilized by the most businesses that are leading in the world to because they have come to the realization of the power of marketing
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Yeah, marketing and good communication really help a business grow. Even if people don’t need your product at first, a good strategy can change their minds. That grocery store guy is a great example. His friendly approach and small compliments make customers feel welcome and that’s why they keep coming back. Small gestures can make a big difference.
You’re absolutely correct. Small gestures can indeed make a big difference in your business or relationship with your customers. And the funniest part of this story is that, this guy sells stuffs way more expensive than other grocery stores around there, but regardless of the high prices, people would always troop in and out of the store, which means they’ve already been captivated by the services they receive there to the point that they’re not even concerned anymore about the price.
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Yeah, marketing and good communication really help a business grow. Even if people don’t need your product at first, a good strategy can change their minds. That grocery store guy is a great example. His friendly approach and small compliments make customers feel welcome and that’s why they keep coming back. Small gestures can make a big difference.
The manner of approach is really important, because it contribute greatly to the development and growth of a business. The way businessman or businesswoman interact with customers can significantly influence their interests on purchasing their products. speaking calmly and politely will attract the customers. Humbleness, loyalty and kindness will strengthen the bond between the business owner and the customers,it will foster loyalty and encourage the customers to promote the products to other people and this will lead to increase in patronage, new customers and it will also bring growth and development to the business.
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The manner of approach is really important, because it contribute greatly to the development and growth of a business. The way businessman or businesswoman interact with customers can significantly influence their interests on purchasing their products. speaking calmly and politely will attract the customers. Humbleness, loyalty and kindness will strengthen the bond between the business owner and the customers,it will foster loyalty and encourage the customers to promote the products to other people and this will lead to increase in patronage, new customers and it will also bring growth and development to the business.
Absolute correct, manner of approach is the ultimate growth of a business which attract more customers and more sales, also have the sources of maintaining your business, that is customers should not run out of their wants, this can also help the growth or the improvement of the market or business.