Kelly Curia-Schmidt has dedicated her life to helping others reach their business potential and she is someone who is very successful at what she does. Kelly is also a very good friend of mine who has helped me in my own business endeavors over the years, with varying levels of success, but that isn’t something that she can be blamed for, far from it. I get a lot of people asking me about business tips and what they need to know before launching a business, and so I asked Kelly to give me a hand with some of those answers.
Do You Care Enough?
Something which so many people do is to launch a business because they want to make money, or because they want to be a business owner, yet they fail to launch a business in a nice or an industry which they actually care about. If you do not have a real passion for the business which you are going to launch then you are not going to do well, or at least success, real success is going to be unlikely. Those who create businesses based on their passion are far more likely to find better levels of success.
Do You Know Your Market?
Creating a killer product is one thing but if you don’t know your market then you are not going to get very far. You need to invest time in researching who your competitors are, what the customer trends are right now, how you are going to fit into the market and what you are going to bring that is different from what is out there already. You also need to look at which businesses are successful and why, what did they do which got them to where they are. You need to know how much money is in your market and what you can do to meet with what the customer wants in order to get it.
Do You Have a Plan?
It may sound basic but many businesses fail to have a long term plan before they launch. The reason why a long term plan is essential is because this is what you will use to dictate your decisions and your actions going forward. What are you looking to achieve from your business and how do you plan on getting it? Basic stuff but essential nonetheless.
The single most common reason why businesses fail is that they poorly manage their finances, what plan do you have in place to avoid this happening to you? This is a really crucial aspect of the business and whilst it is of course important to ensure that you have enough caput behind you to launch your business, you also need to ensure that you have a robust plan in place which will help you manage the finances well once your business is launched.
The key to success is in the preparation process.
To read more on topics like this, check out the business category.
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