While there isn’t a recipe for success tucked away in a “entrepreneurship for dummies” book, you can find success with a lot of hard work and calculated decisions. Consider these four steps to take in the first years of your business:
Although maybe not a popular tip, taking conservative steps toward your business goals produces the best results! If you risk too much, you could lose it all. Make calculated, smart, small moves toward your goal daily. Before you know it, you’ll see a positive change in your company.
Focus on the Market
Before you take any steps, the first question you should ask yourself should be, “What does the market need? Does my product/service meet that need?” If it doesn’t, adjust your product or service. At the end of the day, the market will contribute to the success of your business. Make sure the market needs your business!
Learn to Say No
You can’t be good at everything (literally). So, you must decide what you will and won’t do to earn a customer. For example, if you know you’re an expert tiler and a customer asks you to lay hardwood floors, it’s okay to say no. The more times you work on what you’re good at, the better you become, and the more you can charge for that service.
Be Open to Change
Is your product not selling? Do people not call on you for your services? That is a sign that change needs to happen. Step back and look at your competition. If they’re thriving, compare your product/service to theirs and adjust. This may mean you need to adjust your prices or quality of service. Whatever needs to be done, be open to change.