Entrepreneurship is not less than walking over a double edged sword. Stakes are high. You and your family life can be hell if your efforts do not go well for generating desired results. You invest your youth, your dreams, your energy, your money, some cases your ancestral assets; that too, never knowing what is the right mix of formula to win the race. But still intoxication of taking risk is much enjoyable than all other intoxication available on the planet.
Success for you is crucially important. No matter how rough the weather is nothing can make you anywhere less than unstoppable to follow your heart. As they say the best teacher in the world is your own experience to teach you but sometimes knowing few basics in advance can make your experience easy & route a bit smoother. Because life is too short to commit mistakes, learn from others mistake.
Here is a list of 5 figures you should clearly decide to achieve your magnificent obsession. Knowing better about can make your journey of achievements speedy and with fewer solecisms.
Clearly define your aim in terms of sales figures, number of orders and number of customers.
Trying to reach without knowing the aim is like firing gun in the air and expecting to hit the target. You should clearly know the figures you want to achieve. Only a clearly defined target can back you in devising a meaningful strategy and road map to follow.
Evaluate & access funding required to arrange resources to match your aim.
Capital is blood of any business. If you wish to win the battle, you must have the resources to win the battle. Merely chalking out plans on white papers and no money in hand is again like flashing a gun in hand without bullets.
If you want to win the race, you should have the strength to combat.
Estimate the size of audience for your marketing efforts in numbers, matching to your targets.
Size of audience you selected to delivery message about your products and services should be in sync with your goal. You should be visible enough that your prospective customer can see and contact you. If you are not reaching out to your targeted audience using contemporary media be it digital, print media, TV or other conventional advertising, you might not see the results coming out.
The quality of your message and selection of media should be enough to create the desired impact. Creating a business Facebook page, tweeting about industry news, sending sale push notifications to customers, Getting a professional redo for your website and leveraging digital marketing options (SEO, SEM, PPC) are few area you should explore to take benefit of contemporary advertising media. These can help you to reach out a large size of audience at very low cost.
Specify number of verticals in terms of your services or products offerings
You should reach out market with number of services or products to suit different market segments and needs. Sometimes depending merely on a single service or product might not fetch you results matching to your aim. A choice of varied options gives customer a choice and you a competence to widen your market reach.
Finalize number of employees & resources required to execute the level of operation to match your objective and number of managers to create a balance between all divisions.
This is the most crucial stage and requires maximum guts and wise decision making from a want to be successful entrepreneur. You never know the results of your efforts but you are well aware about the money in your hand. If it is not used rationally and dries up, everything you invested might come at a risk.
You should be wise enough to use your capital in order to arrange maximum number of quality resources at minimum of the cost.
