Opening a new business is a big deal but actually sustaining, managing and moving it forward is the real deal. Many businesses fold up due to bad management and lack of appropriate optimization skills to keep it running. Here are a few steps to optimize and manage your business to prevent it from collapsing:
1. TARGET: Everybody in different works of life have targets. A student targets A’s in courses in a semester, that is the same target you will give your business. Set goals on a daily, weekly or monthly basis. This will motivate you to work towards it depending on your kind of business. When these targets are met your business is bound to move forward. Profit which is the sole target of every business will be actualized. The zeal is left with you, as you write down your target you work towards it. Also be careful not to make targets that are way above your capability which may lead you to touch resources that you shouldn’t have. Make goals that you can accomplish within your reach and watch your business blossom.
2. CREATE AWARENESS: Don’t ever for one second think that people will know that you are selling good products and services just by their own intuition or by some spiritual revelations. You need to engage in sporadic and intensive advertising on all platforms. Let people know what you have and the service you provide. Advertise your business by all means possible and watch the miracle happen. Use your social media spaces to optimize your business.
Go to gatherings and have one on one talk with your prospective customers. If you have enough resources sponsor shows, radio programs, pageantry etc. All these will go a long way to keeping your business in good shape as well as optimizing it. More awareness means more customers, and more customers means more profit.
3. GOOD CUSTOMER RELATIONS: The way you relate with your customers determines to a great extent how you want your business to grow. Buyers like a good and friendly atmosphere where they can discuss, chat and laugh will purchase goods and services. That friendly disposition you give them makes them patronize you. Appreciate them always, tell them they look good, send regards to their family even when you don’t know them in person. Keep a smiling face even if everything is not going on well.
4. NO CREDIT: There is a popular adage that says “business moves when friends and family pay cash”. One thing that has caused the collapse of businesses is giving out goods or services on credit. To successfully manage your business you must have a strict ” No Credit” policy. Credit causes backwardness and stops the flow of profits. If you have to give credit then your customer must provide a collateral just like it is done in the bank so that if he/she can’t pay back then you sell whatever was used as collateral to replace your money.
However giving credit to customers fosters good relationships, therefore if you have given then do that with reliable customers who have a steady flow of income and can payback within the specified timeframe. But if your business is still at the infant stage do not for any reason give out your products or services on credit. It can cause stagnation and eventual collapse of your business.
4. GOOD ATTITUDE TOWARDS YOUR BUSINESS: This is just a basic and fundamental skill of which you should know already. Being punctual to your business shows a sense of being responsible. Be clean at all times, dress appropriately no matter the kind of businesses you venture into. Even if you run a mechanic workshop, do your own with class and neatness. Nobody wants to be associated with a dirty person.
Be consistent, do not allow your customers to constantly meet your absence. This will make them lose interest in patronizing you. No matter your kind of business do not give your customers a cumbersome means of contacting you if you have to be absent. Consistency is one of core factors you need to optimize and manage your business.
4. HIRE THE RIGHT PEOPLE: Your business needs intelligent and committed personnels to handle it. If your business is one that requires a representative, you need to hire someone with good business skills. Some businesses have gone down the drain because sales representatives have a bad attitude towards their business.
Hire someone you can trust with your finances and with your entire business. Do not relax and think everything is just fine because you have someone there. Do routine checks, compare and contrast. The people you hire will showcase how intelligent you are and how you want your business to be. Let them have a good level of education, good customer approach and good marketing skills.
5. BE SECURITY CONSCIOUS: Your business attracts both good and bad people especially when you are a success. Therefore, be ready to face adversaries from all angles. Install CCTV cameras in your outlets. If you do not have such resources, always be very vigilant when dealing with customers. Don’t keep your money where people can see.
Deposit a large amount of money in the bank. Do not keep or walk around with money. Maintain a friendly atmosphere with the people in the area of which your business is located. Have the Police emergency numbers in case of anything and avoid closing at odd hours of the day.
6. BE OPTIMISTIC: Business fluctuates most times. Sometimes you lose sometimes you gain. In any case, keep an optimistic mindset. Do not lose focus. You are a CEO, you are not under anybody, you are your own boss therefore be ready to fall and pick yourself up.
7. ATTEND BUSINESS SEMINARS: Sit and listen to other successful business entrepreneurs.Welcome new Ideas and strategies.If you do not have time to attend these gatherings you can check online for www.wiseessays.com/buy-an-essay for new ideas and strategies from people all around the globe on writing related business or companies.