Article written by Sherin Dev. Follow me on Twitter
One of my previous articleshared some thoughtful words on how to become a millionaire where I have mentioned an employee never become a millionaire instead, he is working for his employer to make him millionaire. Starting a small business and establishing it is a great idea to become a definite millionaire. Do all the people who start businesses have opportunity to become millionaire? In my opinion, the answer is a big ‘No’ and here it is why?
No one comes to the world as a business man or women. Of course, some factors like ongoing family business or birth as the daughter or son of a business man or women is just a supporting factor to become a born business man or women but, this is not applicable to all. I have experienced from the story of some successful business owners who really started their career as an employee, but later started their own business to succeed with it. When read these stories, three most important points I have noted to share with my readers.
High Visibility is a prime factor that highly influences the success of a business. Selections of the business location and easy accessibility to the premises are two core branches of ‘Visibility’ which highly supports a business to run in a profitable and successful way. For an example, a grocery shop located in a place where public rarely visits, have very less success possibility than one which set up in a location where lots of people visiting or gathering. This example shows the importance of visibility through set up a business in a right location where get immediate attention from public.
2. DurabilitySuccessful business people always select the product or service that is highly durable. In other word, any businesses which provide a product or service that continuously required by all kind of people, have high success possibilities. One of the examples for such kind of business is a hair cutting saloon in a right location. Their service always required by people and they visit to the saloon time to time. When selecting a business, durability should be an important factor to select along with right location.
3. Service Support
Idea one and two should be done before any business starts serving to the public. But, the third point (this) is another important influencing factor comes to the picture only after starts running the business. Focusing to ‘Support’ not only means after sale support, but quality of product, service after sales, staff characters, follow up, acceptance of errors etc. Below is the short description on each of these sub points.
a. Quality of product or service – Always focus to ensure the quality of product or service with right price than available anywhere in the city or area. This would attract lots of customers as well as referral customers. Referrals to your business mean success.
b. Character of staff – It is important to keep an eye on how your staff behaves to the customers. Patience and politeness are two must qualities each and every staff requires. Anyone who crosses these marks should be advised to build right behavior or removed from the business house/shop immediately. Never allow a customer to wait for long time to get your product or service.
c. Follow up – Great follow up able brings more and more happy customers. However, this idea would highly work with branded items or services business like electronics or household items. It may work little with grocery shop kind business but, you can use your own ideas to keep the customer always happy when deal with you and staff.
d. Support – Never allow any customer to wait to get your support after sales or any kind of assistance they requests to you. Prompt services and support would make the customer happier and force them to turn to you again and again. They may refer your business to more friends and relatives to get your more and more business.
e. Acceptance of errors – If use properly, this would work like magnet. You never lose an unhappy customer once you accept the mistakes. Whether it is yours or theirs have a practice of accepting it as yours in the first. Later, understand them where the real error is and help them to get the issue solved.
Useful Final thoughts…..
Starting up and running a business is really painful. It requires hard work and patience. Someone can establish the business in a short time and where other may take long time. Buy and read the evergreen international best seller “How to Win Friends and Influence People” from Dale Carnegie at the time you are planning for your own business. This guide has solid proven ideas and it will change your thoughts and nature to great success.