Business entrepreneurs have to make their living in a rapidly changing world where competition is rampant and consumers, inundated with a myriad of choices, change their buying patterns in a flash.
One of the positive spin-offs of such uncertainty is that there is always a new opportunity for savvy entrepreneurs to develop new ideas to meet new trends and market demands.
Often, the biggest profits come from the simplest ideas that make it to the market and which appear so obvious to everyone after the event. Being ready to snap up these opportunities requires business entrepreneurs to be mentally prepared to understand what is needed to succeed.
Here are some guidelines provided by FOURWAYS Community Chamber of Commerce:
The business of business is profit. Don’t let anyone tell you anything different. The scorecard of a business is measured by the profit that it generates. Everything you do in your business should be intended to lead to profit.
Pay yourself first. You can do nothing for society by bankrupting yourself. Let creation of wealth, personal growth and development be your primary objective for you and those who are associated with your enterprise.
Be innovative. Make it your continual goal to think of ideas to change the world and add value to society, and then put them into action.
Be aware. Constantly scan international news releases, web links and industry bulletins to identify new trends and subtle twists to ‘old faithful’ income generators.
Think BIG. It takes just as much time and effort to launch a small business project as it does to work on a big project… go for the BIG idea.
Think SPEED. Speed to market is the battle cry of successful entrepreneurs in the 21st Century. Be prepared to move from idea to implementation in a matter of weeks.
Do It Now! Be ready to complete your business plan, marketing plan, test market research and produce marketing material within a matter of days.
Don’t be afraid of failure. The more you keep yourself aware of trends and on the ‘bleeding edge’ the more projects you are going to put into action. Many of them will fail. Keep trying until you find your winner. Then keep trying some more until you find your next winner. Welcome failure!
Massive action. Give every resource and commitment you have to producing significant results in 90 to 120 days.
Be inspired. Look for ways to add UNIQUE twists to commonly accepted products and services. Use simple technologies to create a ‘WOW’ affect.
Be enthusiastic. Consumers can sense your enthusiasm in delivering a quality product or service. If it is really that great, you will be really enthusiastic.
Be persistent. Set your eyes on each goal and don’t stop until you achieve what you want to achieve.
Guarantee your quality. Stand by the quality of your product or service with your personal guarantee.
Contact: Rose Ssali – 071 726-8717 – Chamber Ambassador & Media Liaison – FOURWAYS Community Chamber of Commerce
Web: www.fourwayscommunitychamber.co.za Email: [email protected]