How do we know how to achieve great success in small business in 2021 and which businesses will succeed and which will fail? Arif Rajan Managing Director, ICT (Intelligent Security gcspvt.com said, this is a very important question, but it is not a rocket science that cannot be known. All we need to know is whether this business or project investment will be profitable or not. no.
Let’s give a formula of ten for this.
The first number is talent. Good business ideas can be found everywhere, but the number of talented people implementing them is only one in a million. Arif Rajan says, “Before I review the success of any business, I look at its head and team.” It’s important for me to know how serious they are in business.
2. Hard working people are essential for successful business
Because the biggest challenge in business is to get money from those who invest from zero to billions
In order to be successful, it is necessary to give full time to the business and also to have a separate way of working. Large volume of business solves all problems, it does not depend on others but solves every problem itself. A good businessman does not sit idly by until he has solved the problem, the owner of any company needs passionate and hardworking people. Only then will a good investor be willing to invest in it.
Think of technology first. When our business idea is connected to technology, it becomes more important. The best way to do this is to involve an expert who understands the workings of the technology so that the problems related to the technology can be solved quickly. Then look at other business matters.
4. The method of advertising, that is advertising
Do we have investors and consumers? If we have consumers or investors, have we made money from the business? It is important to have a good and successful plan to get the attention of investors. To be successful in business, you need to create software on social media that will make our products viral or focus on advertising. If the advertising campaign fails, many businesses fail with the right technique and a good team. Starting a new business and the hassle of failure risks is a real hassle. Give your new enterprise the opportunity to work on these new business plans so that they have the best chance of success
This is a business lesson I’ve learned from other business people.
5. Use social media
In 2021, social media is a valuable tool and a powerful business tool for our potential customers to grow our business and ‘social connections’. Social media lets us know what users think of us, their behavior, keywords and trends indicate whether we have succeeded in achieving our goals in the market. Improve customer service. Social media can help us build our business profile and attract new customers.
6. Queue clients or customers
As long as we don’t regularly tarnish our business and start it, the chances of success will be zero, so we shouldn’t wait for that time because business can’t survive without us. ۔ It’s best to set up a network and make connections. Sell or sell your product or service. Success in marketing requires hard work and time. A quick start is not a guarantee of success.
7. Write a business plan
We need to write a complete plan for the business plan. The biggest reason for starting a business plan is that in this way we have been able to save time and money on which we can gain experience by investing and taking risks, the conclusion is that it will not succeed.
8. Do We Research
We need to do a lot of research when writing a business plan. But this is just the beginning. Starting a new job requires us to become experts in our industry, products and services if we are not already experienced and skilled. It is a good idea to join professional industry or commerce associations before starting your own business.
9. Correct legal and tax matters for the first time
It is very difficult and expensive to face difficulties later. Mr Arif Rajan says if we want to do business, we have to fulfill our legal business responsibilities. Do we need to register our business? Do we have to pay GST or PST to run the business? Do we have to insure workers’ compensation insurance or payroll tax? How will the business ownership we choose affect our income tax situation? Before starting your own new business, learn what are the our legal and tax responsibilities.