Starting A Business And Failing It In Easy Steps…
The biggest and most important function your business should have is in one word ” Promote “.
Often times a many of people get confused by that word, it doesn’t mean just getting the business name out there, it actually means Promote!
A lot of times many people will start a business and expect to survive off it, not realizing their biggest mistakes are in the mark up’s on their product(s).
Many don’t want to crawl before they walk anymore, most want it all right away.
A lot of people will start a business project with out a personal job to support it. (Big Mistake )
In the beginning (Within the first year in business) there should be NO mark up, just straight sales.
Sales that will allow your products to survive and support itself.
If promoted right, with people “accepting your product” it will succeed.
After promoting it for 6-12 months you slightly but, slowly add incremental by-monthly mark up’s on the products that are selling their best while leaving other products to break even. (Some products may take longer than others to succeed and or flat out fail).
One of the biggest mistakes one can make in business is having to many partners involved, with no written structure (A written Plan) it will most likely lead to like a bunch of seagulls surrounding a piece of bread as if everyone can survive off each sale.
Bottom line be patient, let your business take its course expect at least a year before your business officially takes off if people accept it.
Do I know what I’m talking about?