4 answers
Dyamond
Student
West Memphis, Arkansas
1
Question
Asked
259 views
How can I make me business grow and continue to grow?
How can I make my business grow? I want it to grow bigger and better than anybody else’s business. I want everyone to shop with me and continue to support me.
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4 answers
Rebecca Tang
Banking
1514
Answers
Hong Kong
Updated
Rebecca’s Answer
Thank you for your question. I am glad to hear that you would like to be an entrepreneur and plan for business development. Have you thought about what industry you would like to start your business?
Below are my suggestions :
1. Think about the industry you would like to start business, e.g. what you have interest, you have strength, etc.
2. Do some analysis of the industry, e.g. competition status, entry criteria, any alternate, substitute, etc.
3, Attend industry related and management related course
4. Work in the industry some time to understand the operating model and establish people network
5. Start the business online first if possible
6. Define long term business plan and break it down into short term milestones. Review the plan on regular basis and make adjustment if necessary
Hope this helps! Good Luck!
Below are my suggestions :
1. Think about the industry you would like to start business, e.g. what you have interest, you have strength, etc.
2. Do some analysis of the industry, e.g. competition status, entry criteria, any alternate, substitute, etc.
3, Attend industry related and management related course
4. Work in the industry some time to understand the operating model and establish people network
5. Start the business online first if possible
6. Define long term business plan and break it down into short term milestones. Review the plan on regular basis and make adjustment if necessary
Hope this helps! Good Luck!
Dan Berreth
Sales
7
Answers
Dallas, Texas
Updated
Dan’s Answer
I know this is more general but here's what I'll say:
1. Wake up earlier than everyone else
2. Work harder than everyone else
3. Don't stop innovating
4. Always have eyes open for an opportunity
5. Don't let others around you hold you back
6. Be careful not to be distracted by a significant other - at least not in the beginning.
7. Go back to #1
Good luck!
1. Wake up earlier than everyone else
2. Work harder than everyone else
3. Don't stop innovating
4. Always have eyes open for an opportunity
5. Don't let others around you hold you back
6. Be careful not to be distracted by a significant other - at least not in the beginning.
7. Go back to #1
Good luck!
Anthony Kofi Hene-Amoah
Project Analyst/Advisor, Career Advisor, Translator/Editor
144
Answers
Jema, Brong Ahafo Region
Updated
Anthony’s Answer
Hello,
Please, note the following, concerning how to make your business grow :-
1. Type of business.
2. The need for more knowledge in the business.
3. Faithfulness, Diligence and Integrity in the business.
4. Availabilty of favourable marketing conditions.
5. The need for extra finances/capital.
Best regards.
Please, note the following, concerning how to make your business grow :-
1. Type of business.
2. The need for more knowledge in the business.
3. Faithfulness, Diligence and Integrity in the business.
4. Availabilty of favourable marketing conditions.
5. The need for extra finances/capital.
Best regards.
Susan Bennett
Support functions for Supplier Services (marketing and purchasing) and for Design Engineering
2
Answers
Englewood, Colorado
Updated
Susan’s Answer
You sound like you want a selling business, but the first thing to remember is that instant sales growth comes with consequences.
My suggestion is that you take a lean 6 sigma type approach (there are lots of books /websites / classes on the subject) where you study what is working and what is not working in your business, make your changes towards your goal, and then restudy and readjust, etc. Build your customer base. Test your market.
Create advertising campaigns. Add this into your model and then retest, etc. Be ready for an up and down trend in your sales. Just because you are not selling as much as you were the previous year does not mean you are a failure. Use it as a study opportunity to see what was happening and adjust to it to continue your upward trend. Grow sales but control your growth so you don't outsell the availability of your product. Always continue training and networking.
Be sure to keep your regulatory requirements in control. If you are not an accountant, be prepared to hire one. If you need manufacturing, be prepared to contract services.
I know this is a lot, but you don't want to do all the good things and forget to i.e. have a secure payment system or forget about the payroll taxes or something silly like that. Always maintain a good credit line and keep a portion of savings to back your business up in slow markets.
Finally.... Celebrate your successes. &:-)
My suggestion is that you take a lean 6 sigma type approach (there are lots of books /websites / classes on the subject) where you study what is working and what is not working in your business, make your changes towards your goal, and then restudy and readjust, etc. Build your customer base. Test your market.
Create advertising campaigns. Add this into your model and then retest, etc. Be ready for an up and down trend in your sales. Just because you are not selling as much as you were the previous year does not mean you are a failure. Use it as a study opportunity to see what was happening and adjust to it to continue your upward trend. Grow sales but control your growth so you don't outsell the availability of your product. Always continue training and networking.
Be sure to keep your regulatory requirements in control. If you are not an accountant, be prepared to hire one. If you need manufacturing, be prepared to contract services.
I know this is a lot, but you don't want to do all the good things and forget to i.e. have a secure payment system or forget about the payroll taxes or something silly like that. Always maintain a good credit line and keep a portion of savings to back your business up in slow markets.
Finally.... Celebrate your successes. &:-)