Research paper rough draft Being an entrepreneur is a very risky field to approach. Especially as a rookie, there are many deals of characteristics it takes to run a business. Most all small business owners are their own manager and with that role comes a ton of responsibility. Although determining accountability may be controversial , management should ultimately be held accountable for the employee’s actions, due to the fact that they are supposed to supervise and observe their progress. "Changing roles is like making a pivot in a basketball game," said Ashley Goodall, chief learning officer at business consulting firm Deloitte. "You are anchored by your areas of strength, and they don't change as you move. But the expectations of you …show more content…
“As someone who has been called a serial entrepreneur, I've had more than my fair share of experience starting new enterprises, turning around underperforming enterprises.” says Brad Sugars. Although you don't have to turn around a business, when starting one, sale what people want not what you like personally. Just because you like a certain product doesn’t mean everyone else does too. Think about the customers before yourself in other words. Now when you first get started the main focus is cash, because cash flow is the life line to a healthy running business. Always make sure you are bringing in more money than you are spending. That is a huge factor in running healthy business and staying out of debt. Always try to keep prices and expenses low, you don't always need new stuff in your work area try and find used material to keep more money in your pocket as the owner. Once you start getting customers become close with them and make them repeat customers. Repeat customers are a key to becoming successful, because this means they love the business and will recommend you to anyone. Also a major need is advertisement, billboards and tv commercials are a huge help with getting leads. After getting the business rolling start to increase your profits to put more money in your pocket as the owner. Always test and measure sales and see how the business is doing as a whole. Never discount …show more content…
A sales strategy will focus your efforts on your most important customer audiences, existing or potential.” Always have a sales plan to go by, without that you have no way to successfully sale anything. Once you set plans, try and set goals, if the first time you sold $15,000 worth of wheels and tires make a goal of selling $20,000 the next month. Try and target people who like the same merchandise you sell, for example, I would target people who like cars, trucks, hot rods ect. Now once you find success in what you do try to expand your business and name. Try something new like selling apparel such as hats and t-shirts, that would also be a way to get your name out and get more business. Always be prepared for the best but most importantly be prepared for the worst. If anything goes wrong be sure you are in check and have nothing to worry about money wise. Also you have to be patient, patience is the key to becoming big and blowing up. No one just starts a business and automatically blows up is successful, that takes time and a lot of it. Some of the most successful businessmen/women started out as a small family business and worked their way up in the world, it doesn't just happen overnight. It takes a lot of time and leads, advertising is one of the most important keys to success, get your name out there as soon as possible and make positive