Thousands of start-ups are created every day all over the world. People want to have their own business because they know about the advantages of being an entrepreneur. But only a small part of this projects are successful. Why?
Idea is not enough, even it is good you have to take into account some more points and some steps that are integral parts of the process of growing business.
1. Why are you special?
It was already mentioned that an idea is not enough. You have to be special, not like the others. Think about greatest companies? Apple, Toyota, Walmart for example: they all offer something special – quality, price or totally new product. So find your own feature that will help you to stand out against the whole market.
2. Who is your customer?
Of course it is quite difficult to satisfy everybody and that is why you should find your ideal customer, understand who is he (or she) and what does this customer need. Basing on that it will be much easier to promote your business.
3. What are your key indicators?
If you have your own business you have to do many things to make it grow. I’m talking about such things as promotion and so on. You spend money and you need this money to come back and make profit. So your aim is to understand the main ‘profit-makers’ that work more productively than other ones and focus on them.
4. What is the tendency?
Try to look into future a little and guess what will be popular and what will not – that way you can understand the necessity of your product and the popularity it will gain. Moreover, basing on such predictions you can correct the advertising of your product or some its features to make it more popular and useful.
5. Are you doing everything the right way?
Don’t be afraid to ask for help. There are people who are more successful than you and they can help you and give some useful advice. As well you can analyze the strategy of your competitors and make some conclusion: Does such strategy work? Do they make any mistakes? Use this example and it will be easier for you to grow your business.
6. Do you have a good team?
The team is the most important part of your business because you will never grow a company alone. Is your team good? If it is try to save it, motivate your workers every day and support their talent and their desire to work and lead a company to success together. I’ve already written about a good team, so you can use some more concrete information from that article.
I’m sure that if you are moving slowly and carefully and think about all the difficulties and important things of the business you will easily grow your company. And may be that is you who will be the next innovator of the world!
Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.