by gul

5 Things All New Business Owners Should Know

2 years ago | Posted in: Business, Latest Politics News | 395 Views

Starting a business is the dream of many. Most people hope to start one and never get around to it. Even fewer are able to see it to the finish. This won’t be the case for you if you stick with what you learn from this guide.

1. Focus 80% Of Your Time On Selling To Customers

Sales is what makes the difference between a hobby and a business. Stop worrying about small things like logos and a random page on your website. Focus your attention on making contact with customers.

Listen to their objections and take note. This is golden information that will allow you to improve your product. Your competitors probably never adjust to feedback. You will stand apart.

As you improve your service, it will be the type people recommend. This is where the bulk of your profits will be. No advertising money was burned trying to bring these people in.

You may find this article about creating a referral system helpful too.

2. Keep Your Files Organized With a Simple System

You might ask, what is a dms? A document management system is software a savviest entrepreneurs streamlines their important files with. Using one will help you reduce the clutter of a million pieces of paper.

You will have everything important listed alphabetically or by function. A dms saves you from rifling through many drawers to find a document.

This will also make it easier to back up all your files onto a hard drive or usb stick. You can put them in a safety deposit box to avoid losing everything in a fire. Bad things happen to those who aren’t organized.

3. Keep Track Of Revenue And Expenses From The Beginning

Tax season is never fun. But, you can make it a lot easier to bear by keeping all your transactions recorded.

Don’t be the person who leaves it all in a shoe box. Use an inexpensive scanner that most printers come with to upload everything to a digital version. Organizing files then becomes a matter of dragging and dropping.

Your dms can help you keep everything in one place. Filing taxes won’t take more than handing off the printed sheets to your accountant. Other entrepreneurs pull their hair trying to find old receipts and invoices. This can help save you thousands of dollars in both time and reducing your tax liability.

Here’s other tips for staying organized this tax season.

4. Separate Your Finances With A Separate Bank Account

This will help you prove what is a business expense and what isn’t. You can also get a secured credit card to put all your common business expenses on. This will build a credit score for your business.

A year or so of making every payment on time will make you more desirable to lenders. They will offer you better rates and bigger loans. Your credit will be good for accelerating your growth.

It is best to only use credit for expenses you have the money for at first. The other way is to use it to fulfill inventory for an order. This will allow you to buy control of time by growing more quickly.

Never put yourself into debt for a gamble. Don’t spend it on advertising that is unproven. That is the fastest way to burn through all your money and get a massive headache.

5. Customer Service Moves Mountains

There are many companies with spectacular products that get ignored. The reason is the company isn’t pleasant to deal with. Customer service is one of the rarest values any business can own. It is the main reason people bother recommending a service to their friends.

It is pretty simple to give good service. Follow these three basic tips;

1. Genuinely Smile

  • Many business owners smile in a way that feels fake. Feeling appreciated is one of the main reasons someone will be a repeat customer. Business that grow fast rely on referrals and repeat business.

2. Offer as many solutions as possible

  • Never simply say you won’t do something. Say it is something you are considering or working on to offer customers. This positions you as a problem solver instead of a complainer.

3. Be known for prompt replies

  • How many times have you hung up because you were left hanging? It is unbelievable that a business would let someone with buying intent leave with such a poor impression.

This article may be useful for further reading about customer service tips.

The Verdict

Staying organized and focused on selling your service are the two main challenges in business. Most of your rivals will focus on irrelevant drama instead of sales. The service-focused ones tend to struggle on staying organized. You can be the one who is organized and focused on what counts.

Jeremy is a tech and business writer from Simi Valley, CA. He’s worked for Adobe, Google, and himself. He lives for success stories, and hopes to be one someday.hat it brings to your business as a whole.

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