Financial Education - The Problem With Setting Up A Business
As the world evolves, the interest in running a business has grown massively, it's like one of the most rapidly growing things. This is very good in general, because with so many businesses sparking up, it means the world is positioned to have access to great products and solutions, so looking at how human wants change overtime, the uncovering of business helps control the poor rate of supply against demand.
That said, a ton of businesses fail or grumble because of one factor or the other. To me I'd say that any experiment can either work out, or be adjusted to work out, one just has to dedicate to it, then new ideas will always pop up to best manage it. Like I've said before, the toughest part about owning a business is actually running it well. It's not always about what you're not doing or maybe what you don't know, but more about how well you can make your current efforts marketable, therefore competitive.
If anything, here is a question any potential customer would have in his head;
What are the solutions you offer?
Do take note that this has nothing to do with investments, so if you're setting up an investment, do all diligence, pay attention to your table of preference, run through your options and make sure your risks are managed and your offerings are not too stretch, because if the are, you'll be stranded really quickly!
However, for those just setting up a business that's maybe all about buying and selling, this is something you have to pay attention to. Many sectors are still functional because of this, and many are down because of this as well. When someone says What are the solutions you offer? It means a lot of things, it means why should I patronize you? What makes yours different from the neighborhood? What will be my satisfaction level? The first rule of setting up a business should be to master customer service, yes, it's the biggest shit out there. Your customer service can ruin you.
There's a certain restaurant in my area. I personally love it there because the environment is cool, very lovely for relaxation, but damn, the customer service there is shit. These guys don't even know how to talk to people. The solutions you offer are based on the services you render, how well you do it, and how well the difference is told. When you offer the right solutions, your product automatically becomes marketable. Anyone just buying a product would one day leave, but anyone in business with you because of your services can literally walk miles just to come to your place. Most people don't understand this, and I'm always laughing when I see frowning businessmen and women, like are you trying to hit me or something? Why should you be frowning? Why not wear a smile, at least I may fall in love with that.
If you look around certain sectors, you'll see how women dominate, this is because the owners of these sectors understand the values that come with putting a beauty in front, rather than a man with life stains. Even if a woman has a problem, she could hide it on the counter, but I man may not do so well, so the level of services differ. Don't often go with the products you want to sell, rather, go with the solutions you bring to the table!
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