What are the key points to run any business without failure?

Discussion in 'Growing and Managing a Business' started by kimjolly, Jun 15, 2012.

  1. rf-harris

    rf-harris
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    I guess in any business there is always some risk of failure but you definitely reduce it by starting a business from low investments and then increase it gradually. Plus you should do lots of research before starting any business and try to do business in such industry in which you have great interest and lots of knowledge.
     
  2. johnmicheal

    johnmicheal
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    Hi, So many aspects are there for business success with out failure. Some of these are as-:
    * Fist of all, do a complete market analysis. What types of products and services are in demand. Make strategies for your business according to market demand.
    * Check out what your competitors do to increase their sale and customers. Make a complete competitors analysis also.
    * Spread your products and services all social media channels.
    * Hire a SEO/SMO expert to increase your business search engine presence.
    * Contact to a well qualified business marketing consultant.
    There is very less chances of failure if you implement these key points.
     
  3. Lorence Merk

    Lorence Merk
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    In this business you have to understand that there is always a risk of failure. You really cannot predict if you will win or lose and it takes time to establish the reputation you want to achieve. It is hard to guess that you can start a business and you will not fail. The best thing you can do is make sure to learn the ins and outs of the business that you want to enter.
     
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  4. harryvent

    harryvent
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    Failure is the stepping stone to success. So be focus on your destiny surely you reach the success. Try to use any management software in newbie because it helps to manage your business. There are many business management software, but start up business I suggest Apptivo. Check their features, cost and adapt to your business, next you have to make the decision.
     
  5. Micheal Anderson

    Micheal Anderson
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    I have key points for successful business. I think failures and success are the part of business so do not think you never failure but I suggest you some key points.
    .Keep good management
    .keep good behavior with your employees & provide them all new updates facilities
     
  6. Larry Salazar

    Larry Salazar
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    1) I previously worked as head of global marketing for a global firm that researched performance of various technology firms and solutions. Hundreds of firms (some multi-billion dollar market leaders) would come to us for advice on what they're doing wrong, what they need to improve, how to make changes, etc. Here's one of the common traits of top performers. They are less focused on how to top their competitors than they are on how to please their customers. Don't misinterpret that as a better slogan or better ads. That comes into play of course but being customer centric for these companies are typically ingrained in their work culture. Now I'm not saying ignore competitors. I am however saying you need to focus on your customers because they can be your business partners or your worst competitors. Angry customers will slay your reputation and advocate for your competitors (expressed or implied). Happy customers (real loyalists) are a force multiplier to your marketing efforts. Personally, I have re-engineered company culture for more than one company in order to drive this focus. And the results repeatedly validate this concept.

    2) Failure is unavoidable. The key to success is not necessarily avoiding failure. Rather, focus on how you can learn from and bounce back from failure. Make sure that you have an open mind to new ideas, humility to learn, will to change, and processes to review and refine.
     
  7. sinGN

    sinGN
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    Hi,
    1.It depends on quality of the product or service
    2.depends on efficient marketing.
    3.depends on interaction with clients
     
  8. John Blake

    John Blake
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    To run a business successfully you need to realize that it is almost impossible to avoid any failure. Plan your business carefully, taking into consideration that failing may happen, and treat is as a valuable lesson rather than give up. Always keep that in mind, even when the business is going great.
    In order to succeed, you should have a detailed business plan, stay focused and make sure that your product/service is unique or better than your competitors'.
     
  9. Melissa Forziat

    Melissa Forziat
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    One of the key aspects of any business is marketing. I think the main thing to know here is that marketing your business is an all-the-time activity. It is not about running one marketing campaign and being done with it. Sometimes business owners get disappointed when they get a couple years in and realize that they still have to keep marketing. Marketing becomes so much easier when you have a strategy that takes into account who your target market is, where your target market is, and how to get people into and keep them in your pipeline.
     
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  10. florenceclarke

    florenceclarke
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    In business failure and success are regularly goes for a time. But, for minimum risks of failure, a pre-planned model should be developed which helps to overcome from such risks.

    In a general way, the most thing needs to concern while running a business are marketing(online/offline), accounting, production sales and goals.
     
  11. Andrea

    Andrea
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    I think that it is impossible to avoid failures, what is important is to treat every single one of them as a valuable lesson and learn from them. Do your best to minimalize the risk or the results of the failure. Always put your heart in your work and stay motivated and passionate about it.
     
  12. Rahul Sani

    Rahul Sani
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    Though failure is a part of success but I think providing amazing services to the customer we can reduce the chances of failure. Many companies fail to reach their potential because they are intended to focusing on sales only. Customer service is not just about handle complaints. It also inputs loyalty progress and other customer focused activities.
     
  13. Wake Creative

    Wake Creative
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    I think the most important tip to avoiding failure - listen to your customers. Listen to your target audience. Ask them questions and be empathetic.
     
  14. sin123

    sin123
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    Hi,
    1.Begin with a detailed plan: Your business plan must be correct before starting any business.

    2.get out there and network: your business network must be wide.
    3.Surround yourself with a right person: the workers must be good at work.
    4.Try to improve your business performance.
    5.Find a healthy work-life balance.
     
  15. Ourbusinessladder

    Ourbusinessladder
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    having detailed knowledge about the market of the business and knowing the trends are the important aspect of getting succeed in the business. Rather than these, being self-motivated, hard work, learning from the failure are important.
     
  16. Brad Young

    Brad Young
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    Running any business without failure? It's a nice dream! But failure (of some sort) will always happen and you'll only succeed by being prepared to take those knocks and having the agility to react to the unexpected (like Trump, Brexit and whatever next curveball the universe has in store).

    On a way more practical tip, and covering a point I don't think I've seen above: great data.

    Whatever your business, you're going to gather a ton of data and the way you work with that will set you up for growth and change. Similarly, the way you set your data capture points can make all the difference -- for example, working with a database design company to manage the UX on your online sales forms so they're easy to use and all the data goes where it needs too. There are some interesting examples from across a few industries here: https://www.isos.com/services/digital-design/database-design-ui-ux

    It's the perfect case of garbage in, garbage out. If you're running around with stacks of paper, half filled in spreadsheets and putting data into lots of micro systems, you're going to miss a lot of opportunities whether that's about simple up- and cross- selling, improving efficiencies or getting fresh insight into your customers or industry.
     
  17. Julia Sta Romana

    Julia Sta Romana
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    We'd all like to avoid failing. But I think you should be worried if you don't experience any failure. That means you're not taking any real risk. No risk, no reward.
     
  18. Evan Mcgregor

    Evan Mcgregor
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    If you're mainly starting out, failures happen more often that we want them to. I think the important thing for you to do is to treat these failures as learning curves. It's not always going to be easy to accept mistakes but remember to learn from them.
     
  19. Tamiecnac

    Tamiecnac
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    Research, planning, costs and more research, in my opinion, without those 3 things you will be going nowhere fast.
     
    #40 Tamiecnac, May 3, 2017
    Last edited by a moderator: May 3, 2017

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