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Thursday, June 18, 2009

Organising Your Business To Bring You The Desired Results

The majority of small businesses may have been experiencing a decline in profits due to the present global economic depression. Some small business owners have been propelled to shut down their business because they could not cope with the decline in the level of sales being experienced recently.

Those who cannot keep their business going eventually lost out in the market place. The United States President Barack Obama stated recently that it is imperative to lend helping hands to local banks for Americans to have access to credit and for small businesses to employ and hire workers and grow their business.

This in my own idea is an opportunity in disguise to build an online shop because there are vast opportunities inherent on the internet. By the year 2010, it is projected that the world's spending on the internet will hit a whooping $600 billion. To build an online shop, requires low start up capital and minimal manpower as you can start working on your own at this start up stage.

There are a lot of markets on the internet that are left untapped and you can key into these areas of opportunities to perform products testing in order to meet the demands of the 21st century internet users. For example, you can turn ''offline'' businesses like real estate of publishing into online business by setting up an e-commerce website with all the necessary tools in place.

Make sure you perform a research on your niche area because research is very critical in setting up a business. It will make you find the customer's statistics in order to optimize your product sales. If you are able to have a perception of what the product users need, then you can clearly define who your target customers are and specifically create and develop ways to win and attract these group of customers. You can also quantify other factors related to your business like:

• Your website design

• Total no of visitors to your website every week

• Total no of products sold every week

• Your customer support services

Each of these factors plays a vital role to boost your product sales and the confidence of your customers.

Lastly, you need to start organising your business to bring the desired outcome that you envisaged. When you start an online business, you really need to focus on things that you are convinced will work for you and bring you the desired results. Put your efforts on things that bring the best results for you. Let the 20% of your focused efforts bring you 80% of your results. Do not spend quality time doing the things that do not bring results. That is the 80-20 principle. You must ensure that you give your customers what they want anytime they want it because without the customers, your business will not grow. They are the key instrument in growing your business so ensure you have in place proper structure outlined to satisfy your customers so that they can impose their confidence in your organisation. Their word of mouth will help you sell and advertise your good reputation.

Therefore, your business has to be dynamic and you have to stick with the rules that produce the significant results. If you haven't, you have to make sure you change them so as to grow and move your business forward.


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