5 Important Points For Successful Business

5 Important Points For Successful Business

5 Important Points For Successful Business

If you want to do business you must have business skills. Business skills are usually taught in colleges. But nowadays colleges are just making money. You can find exposure in colleges but not skills. Josh Kaufman researched and found that most people go to colleges just for sake of degree, not education. So, he took a decision and he starts reading books on business. He focused on self-learning.

From all those books he took out the most important points and put those points in a book. Here we are going to discuss important findings of Josh Kaufman and we will discuss 5 important points for a successful business.

 

Value Creation:

To learn about this we must think about whether our product or service is creating value for other people or not. You must create something in your business that makes an impact on the lives of people. Your profit is directly proportional to the value of your product or service.

 

Marketing:

Marketing is an important tool. According to one research, about 63% budget of companies spend on marketing. With good marketing, you can sell a low-quality product but it will not be sustainable. So a quality product with good marketing is important in business.

 

Sales:

People won’t buy anything from you unless they trust you. You must gain their trust. People tend to buy from brands. What could be the reason behind this? This is because brands earn the loyalty of people. You will always tend to buy something from a place which is known to you. You must find out ways to earn loyalty. Every business has different tactics to earn loyalty. Try to give the best customer care services to your customers. This is one way to earn trust.

 

Value Delivery:

You must always try to provide output according to your customer expectations. If you give output more than your customer’s expectations then you are definitely adding value delivery. Try to improve your product or service after some time so that your customers remain satisfied.

 

Finance:

You should take care that you are making more money than you are spending. Your expenses in business should be less than your earnings. If your expenses are more than earnings then you might stand out for some time because of your investment, but in the end, you are going to lose everything. You must be clear from where you are going to make a profit. Try to stick your plan and make your business profitable from the first day.

 

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