Dos and don’ts for business success
5 business Dos and don’ts
Business success, while fairly simple to define, is notoriously difficult to achieve. A little over 50% of start-up companies fail within the first four years due to a range of reasons, from poor planning to cash flow issues. So how can success be achieved? What are the pitfalls that need to be avoided? Here, we offer some tips on how to survive the first few years and become one of the success stories.
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DO measure your progress
Benchmarking is key if you’re to measure your success. The first step is to define what constitutes success – is it product sales? Increased turnover? Uptake of free trials? Once the metrics are confirmed, make a report of where your business is at now and compare the results on a monthly basis. This will also help you to spot trends over the course of a year and identify …
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Any business that desires development, profitability, and escalating value over the long-term is in for some great news. You will find easy but strong measures that can be taken today to achieve such company targets. This critical step is obtaining a professionally ready business appraisal (B.A.). A business appraisal establishes the fair market worth of the business, which puts the business owner in a potent strategic and decision-making position.
Shirley Anderson of Hubpages, an author and pal, asked how a Canadian may immigrate to the United States and commence a business in Arizona. Thank you, Shirley, for your question.
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