Weather its a big business venture or a small home business the challenges are more like the same, as someone who has been running a small business for years i have learnt how to deal with some challenges and im here to share with you guys, so weather you are planning on starting a new business or you are already running one these are things that you should put in mind:
Patience: All businesses require patience, every business you see out there that has made it big started small amd required some form of patience, some businesses take years to be recognised but eventually get their big break and this usually happens in a short time. So be patient your business will get there.
Customer Choice: one thing you need to know is that not everyone will buy from you. At times we get to think that our friends or family should buy from us or support our businesses but put in mind that people have different choices and might prefer to do it from somewhere else, try not to put hard feelings as you can try to get business from somewhere else.
Tastes and preferences: keep in mind that people have different tastes and preferences, when im doing my monthly stocking ive learnt not to get something because i like it or it looks good to me but its what my customer will want or like. For a few seconds i step into my customers shoes and imagine if i were them…this has helped me to know exactly what my customers want and in most cases i never go wrong.
Expect losses: All businesses make losses that is true but there is always a back-up plan to cover for that loss, when you experince this do not panic its just something that businesses go through, though this shouldnt kill your business spirit keep working and try to keep the losses at a low level.
Give your business time: at times things might fail to work out, but give your business time first you need to know what business you are going to do and to also love your work. Get to know how the business rans and do a market research, get something to motivate you to keep going. Do your own accounts if possible though once in a while you will need a proffesional.
Competition: expect competition, just know that you are not the only one doing that kind of business someone out there might even be better but all you need to do is to know your competitors weakness and use it to your advantage this will greatly improve on your business.
Overtime ill be sharing more tips on how to ran a business based on my own personnal experince. An extra tip: take advantage of social media, its free and will give you a good marketing platform use it as you have an advantage of being known by lots of people. So go ahead and use the free resources that you have around you…