You probably come to wonder how these small entrepreneurs gone from nay to yay. But it’s really no secret when you ask them how they managed to climb the ladder of success. Every businessman can tell a tale of wise thoughts to guide you from a whiny start-up to a bad ass key player in the market.
Coming from a business-oriented culture, here are some good ole’ wise tips that you need to know to maximize the potentials of your small business and come through booming in no time.
1) Be the master of your own game.
Surely, it’s the number one rule when starting or having a small business, always do business that you, as the business owner or partner, know how to handle. A business where you lead in and a business which you love doing is the best business to do. For instance, if cooking or baking is up in your alley, pretty sure the restaurant will be kicking in no time, and then you may hire people to assist you or contribute for you.
2) Create meaningful connections.
Everyone is your best friend when you’re a businessman, especially for a small and start-up business. You treat everyone your favorite customer and mostly the first few customers are people you know. Impress them and they refer to you more prospects. It is also a good idea to join organizations with like-minded businessmen and create a network to give you edge in the marketplace.
3) Know your market.
This is another factor to put your small business ahead of the a-game. Getting the right location, identifying the type of customers you are catering to, and filling up the void in their needs pave the way for a successful business.
4) Study your competition.
That’s the great thing about having a business here in the Philippines, it’s a free market and pure competition is always the lovechild of capitalism. It’s a really competitive market, and you have to offer something unique, so check out what’s cooking at the other side of the fence then figure out how you can stand out from the rest. There’s nothing really bad checking your competition out, after all, business is business.
5) Go where the people go.
As a small and fresh business, reaching out to your market would be an ideal marketing strategy before even having people to go find you. There are so many ways to do such; you can either set-up an online presence, attend events that caters to young entrepreneurs where they connect to their potential clients such as getting your business to join business expos, and the like. It all boils down to creating awareness of your products and services.
Now whenever you’re starting a business or a beginner in the game, it’s nice to ponder on these thoughts and strategize your plans more effectively. So any cash can come in handy to build those dreams into reality. If cash is the problem, no worries! Pawnhero is the superman to your piggy bank. Just download the really cool and easy app or visit the PawnHero website and everything is just at the tip of fingertips. So go forth and start growing your business.
By : PawnHero
SUGGESTED ARTICLES THAT YOU MAY LIKE :
About The Editor-In-Chief of Think Philippines!
- Managing Partner at Princeton Business Initiative
- Lead Convenor of Isang Samahan, Isang Pilipinas (ISIP) and Think Philippines!
- Agency Manager at Fortune CARE Health Maintenance Organization (HMO)
- Financial Investment Advisor at Rampver Strategic Advisors
(+63) 927 646 0088 WhatsApp/Viber/Philippine Mobile Number
To post articles here at Think Philippines, you may email it to: firstname.lastname@example.org or by simply commenting it on the field provided below.
Thank you for supporting us.