How To Overcome Challenges That Face New Businesses.

I realize from experience that so many people start off their businesses without the faintest idea of what their businesses will encounter in its journey into success.
I also realize that so many people start of their businesses due to different reasons and purposes. Some start because their friends are doing it and making money from it. Some start because they heard that it is a lucrative business.
Some start to majorly make money.
Some start because it is the only way to survival. Some start because it runs in the family even though they hate the business.
Some start because they drop out of school and so they have to make a living. Some also start because they are forced into it. Why? Because it is their family business.
Are all the reasons given bad to start a business? The answer is Capital Yes! What do i mean? I’l explain.
You see, how you begin a thing matters a lot. Why? Because it is the foundation of the building block of your business. That is why many businesses collapse before it even goes far. Why? Because the foundation is not solid.
You must know the reason why you are starting your business. If you’ve started your business due to the above reasons, your business will not last for more than 2 -5 years before it goes under.
To avoid this, you must check your True Reason why you are starting your business and it must have the following reasons :
1. You love the business. You have passion for the business
2. The business surround solving people’s problems. The more problems you solve, the more money you make. Don’t forget that.
3. To make the world a better place.
If you look at successful entrepreneurs, you’l realize that these entrepreneurs fulfil the 3 Major reasons that i gave above and are keeping to it today.
If you start up your business and the major purpose is to make money, you’l just realize that you won’t even make any at all. Why? Because there are laws that govern business and if you don’t know these laws, you’l be frustrated out of business. I’l share some with you shortly.
Laws are unbroken principles that if you put into your business will give you the same result like Steve Jobs, Bill Gates, Warren Buffett, Donald Trump, Brian Tracy etc. Why? Because they are the principles they themselves use.
Every successful business you see today faced the Same obstacles you are facing now and overcame them.
So before setting out to do business, you must first SIT. A child that will walk must first sit, then crawl, then stand, then walk and then run. Business too follow such steps. You must first SIT to know the reason why that business need to exist. You must in your sitting know YOUR MISSION OF EXISTENCE. This is your core value. The very heart of your business. Have you discovered it? Coca Cola’s mission is to make Coca Cola known in every household and today, have they not achieved it? The answer is Yes.
Don’t be in a hurry to run. First Sit. Use that period to project into the future of what you want your business to be in the next 10 to 20 years. This is how chinese people grow their business. The plan of your business must be both short and long term for longevity even after you.
So first Law: Sit. Write down your mission, goals both short and long, strategy of meeting those goals and of meeting and growing your capital and customer base and your profit margin including your work force.
2nd Law: When the above is put in place, then you need to focus on the challenges that face new businesses and create a strategy to overcome them. This is where most businesses fail. They don’t understudy these challenges before they launch out. This is where reading come into play.
So what are the challenges New Businesses Face?
1. Inability to make sales.
2. Inability to pull customers.
3. Business competition
4. No demand of their products and services.
5. Capital to do advert.
6. Location base.
These are the major challenges that all businesses worldwide face and you’l’ve to find your way around it by doing the following:
The major solution is in your ability to market and strategize your plans. I’l briefly explain this you.
To solve number 1, you have to consider who your audience are. Remember that You Are Not Sent To Everybody.So you have to sit find out who are the people who truly need your business. Targeting your audience will solve number 2 for you.
To solve problem 3, Avoid Competition in business. Don’t compete with anyone, compete with yourself. Competition sucks ideas. Be creative. Go to your vision board and look for strategies to dominate the market. Advertize: Partner with businesses with successful Track Records like Tripleclicks. Their website is http://www.tripleclicks.com /14424670/ECA. To know more about Top 100 Best Businesses For Young Entrepreneurs that you use to start a lucrative business, you can go to http://www.tripleclicks.com/14424670/detail.php?item=51631.
I’ve been able to collate the laws i talk about into an Ebk titled, 20 SECRETS IN MAKING MAXIMUM PROFITS IN BUSINESS

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