Do you want to do business? if the answer to this question is yes, then you are in the right place reading the right article. In this article I will be explaining some fundamentals of how to manage a business successfully.

Many people want to set up a business when you ask them, they say I want to work for myself managing my business without knowing that every successful business requires some level of management

Here are some of the points you need to follow to be successful in business

Business identification do not enter into business with a blind eye make sure you have acquired enough knowledge about the business you want to engage in because businesses can have some downfalls at times so it is impious must necessary information about the business you are venturing into

Yes, there are some points to avoid if you want to be successful in business.

1. Do not start a business because you have seen someone starting that business before

2. Do not start a business because you have seen someone having money for that kind of business 

3. Don’t venture into a business because you were told to do so by a friend or a relative

4. Don’t start a business if you are not ready to sacrifice for it every business requires input to grow 

Time management

Time is a very important resource for every business to grow. I remember some years back in 2019 apostle Collins Chipaya, a Clergy of Hope of Glory revival center back then said “If a friend does not respect your time ,they disqualify themselves from being your friend”.

In case you don’t know how important time is, people who do not honor time in their lives are not in order. If you are a person who when given an hour appointment or assignment you arrive an hour late or 30 minutes late then you need to adjust and put your life in order otherwise you will not be successful in business

It doesn’t matter what kind of business you want to engage in whether offline or online business, you will still have to create time and be consistent. I have a friend who is into making money online when he says I will go live at 8:00 p.m. 

Then expect to see him at that exact time and that shows the results as well so time management is very key in terms of progress in business

Those in the make money niche online know that for you to be able to make money you need a huge following and it takes time to be able to realize such results. 

If you are a person who is not smart in terms of time management you won’t be able to withdraw anything from it. 

Human resource management 

If you are to succeed in business human resources is also an important factor in its growth, if you are just starting a business for example, you might need some people to help you out, but since you are just starting you might not want to over employ because instead of making profits you might be making salaries for the people so limit the number at the beginning. 

This is so because when you are starting something you may not make as much money as you wish to, this is so because there are certain demands that your business may need to follow to meet the demands of the customer.

 So at the beginning, you might start with a few people to help you out and as the business grows then you will be able to increase the deployment of human resources.

Financial disciplined

For every business to thrive you need some financial discipline every time you make sales there must be some level of financial discipline, if you sell and eat the money without even accounting for it then it’s just a matter of time before the business collapses

Don’t use all the money you make thinking that you will make the same amount of money again given the same period you had to make sells know that time changes and business is dynamic so always plan your expenses even before you use the money

When the business is just growing, give it a period before you start using the money and only use the amount that you have plans to use, do not make impulse buying of things.

Growth is gradual, so don’t wish to grow overnight save yourself some heart attack by giving yourself room to grow, do not compete  with any existing business rather compete with yourself only learn from existing businesses how they manage to reach to the top at which they are operating currently and not try to compete with them

Offer quality services

I have noticed that many business owners have not mastered the art of offering quality services to their customers, they practice what is known as poor finishing, for example most shawarma businesses if I may use that example when they start very well and later fail on how to manage it, very well.

with all the ingredients that make shawarma but once they notice traffic at their business place they tend to forget what is driving the traffic might be the same solution to use to sustain the traffic

This is common practice among shawarma businesses today you will go there and find all the ingredients thinking that if you go back tomorrow you will find the same type of shawarma just to your surprise the next time you go there you find most of the ingredients are missing

Good customer care 

A good customer care relationship is imperative when it comes to business growth. I remember the time I was running a cosmetic business in 2014, I had people who would patronize my stand every week to get some earrings and other cosmetics. 

The reason why customers kept coming is because each time they engaged me I would respond with a smile and give them attention even when I was busy with other things,  I would pose and hear what they were saying.

 others would ask me to order certain products that I never had at that particular time if that was within my rich I will do it and satisfy my customers and they continued patronizing my stand

In conclusion 

The above points are a few but I believe if you can follow them and do exactly as I have mentioned you will be able to know and manage a business well then achieve whatever you want to achieve the only reason why people fail is that they don’t want to follow the steps required to take them forward but rather they wanna start a business and grow without taking necessary steps but I need it and so many companies close because people do not want to follow instructions and sacrifice necessary for them to grow

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