7 Key Tips To Succeed in Your Small Business
Economic changes have occurred and business will never be the same. Business owners have needed to adapt and change. Being different helps to survive. The fundamentals are the same however. Here are seven tips for success: 1. Have a written plan. Going into business without a written plan is just a dream. Outline specific objectives, strategies, financing, a sales and marketing plan, and determine the amount of cash you need. Create a proforma to determine cash for future needs so you have enough cash on hand. 2. Set out your plan but don’t be married to it. A plan is necessary to lay out your path but you need to stay flexible and adjust as needed. Be open. 4. Account for everything. Stay on top of your systems and numbers. Train your people to do the same and be consistent. Make good business decisions based on the documented facts and numbers. Do not go into business until you know how much cash you need and you have it available...