Right now, as you read these lines, millions of people want to start a business. They want to realize and develop themselves as professionals, not behind their employers’ backs, but to build a personal structure that will lead to success, freedom, and prosperity in business.
But as practice shows – WANTING to do and KNOWING how to do – it is not the same.
Entrepreneur’s Code For Starting Any Business
At the entrance of the business, the beginning entrepreneur faces common “deadly” stereotypes, which begin to destroy not even started business: large investments, which are not available; attraction of investments in business; fear of working with the best paystub generator; the presence of connections, or rather their absence. These are the main prejudices that “beat the hands” of young businessmen.
Working with people, I’ve noticed that people are afraid of competition. They start walking around in niches, limiting themselves in their choices. However, competition is the most powerful engine of commerce. And I can’t even imagine at what stage of development the world would stagnate in the absence of economic competition.
3 Rules Which Encourage You To Start Any Business
My personal experience has convinced me that any niche can be picked up. Even if it is “broken” by competitors and your savings are hard to call huge.
I’m sharing three rules in business that will lead you to results.
1. Target Audience
The first thing to think about in the initial stages of the product launching is who your target audience is. But all is not as banal as it seems at first glance.
I will tell by example.
You decide to do the creation of business websites. And start looking for customers among companies that are fairly well-known in the market. But as a rule, they are spoilt for attention and already have a personal site, which promotes your competitors. And you want to poach them and promise better terms.
While your time and effort are being exploited for minimal money – great opportunities are passing by. And imagine that you found a person who has no sight at all and does not know what good it can do. Or there is a site, but rather outdated and boring by the canons of the modern world. And in general, the entrepreneur has a vague idea of the importance of promotion on the Internet.
So, analyze the target audience, select from it those who need it, give them a ready-made solution. And most likely, they will become your long-term clients and will be grateful to you.
Related Reads: How Can I Improve My Business Website?
The second important decision to think about is figuring out how much you are worth.
From personal and peer experience, I have found that one of the biggest fears of entrepreneurs is to increase their costs. So, in the initial stage for a long time, I sold my products knowingly cheaper.
And I honestly did not understand why there is no expected flow of clients, and if they appear, they come from the category of “freeloaders” who want a lot, quickly, often ask for a delay, and will bite me for every extra penny. And in this case, as a rule, it’s not about their lack of money at all. It’s just that the “freeloader” business mentality doesn’t allow you to part with less money than it’s worth.
Also, you lose a large segment of people who do not order because you are cheap, i.e., for them, it is an index of what you do poorly.
The third rule of a successful business is to give away the value of a product in a way that exceeds its price. It’s the ability to meet your customer’s needs to the fullest extent so that they recommend you to others.
Want to be a market leader? Give the customer value above the cost of the product.
One rule I’ve developed for myself is that if the person didn’t get the value they were looking for, we offer them our product for free until they get what they came for. Perhaps somewhere, we work at a loss, but in the end, we give the highest quality and constant recommendations to others.
Decided to start your own business? Well done! Apply these three rules, which have been tested by time, by myself, and by other entrepreneurs.
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