Tips for small business, these days the easiest business to start is most likely an online business. In short, the reasons for this is that it does not need you to find premises. You don't need sign leases to furnish the premises or to pay to secure them.
An online business can give you a potential worldwide market for your services and products.
There are less government regulations which usually apply to you. However, make sure you comply with the regulations which do.
Invest in your education, yourself and your skills set. Education can mean many things such as doing online and off-line courses. Reading the correct books or learning a new skill. Also watching training videos or listening to podcasts.
Getting as much business education as you can is one of the best tips for small business success.
In business listen listen listen. You have two ears and one mouth there is a reason for that, use them in proportion. This means to listen to what customers tell you and what potential customers tell you. Your products and services must be what the customer wants not what you think they want.
Always do what you say you will do if possible it is a good idea to promise low and deliver high.
Be relentless about the 80/20 rule, it applies to virtually every business. This is both in a negative and positive way. You will often find 80% of your business will come from 20% of your clients. These are the ones who should be given most of your time. You will also find that 80% of your problems will come from 20% of your clients. However, these problem clients are very often not in the group providing 80% of your business. Sometimes a particular client is just not worth having.
Don't start with a business idea of what I can sell. Instead, think of solving a problem. People don't buy ideas of products, they buy SOLUTIONS.
It is much easier to gain a customer base by fixing a problem.
Think of problems you and your friends have and then think of solutions. It is best to find a niche because and focus on solving the problem for that particular niche.
It is cheaper and more effective to market and target a niche.This one of the most important tips for small business.
Government regulations are painful especially for small businesses. Unfortunately, it becomes even more painful when we don't follow all the paperwork. It is a good business practice to follow all the requirements as soon as possible. This may avoid nasty repercussions in the future. An online business can often avoid the need to follow some government regulations.
In some countries, there are government incentives for small business. Click here for links to various government departments.