- Listen to and provide for your customers.
- You are not really selling products or services;
you are selling customer satisfaction. Satisfied
customers are repeat customers and are likely to
refer new clients to you. It costs ten times as much
to acquire a new customer than it does to retain a
current customer. Be open new ideas that can improve
- The competent manager will research and gather
information to assist in making the decisions and
changes necessary to stay profitable in a competitive
world. Stay within your budget
- Every business should operate from a budget. Use
last year's financial reports serve as an
excellent guide to setting this year's budget.
Research Community Needs
- Be sure the community can support your
- Some areas are not large enough to warrant
certain specialty shops. A gift shop, may take a
population base of 50,000 people to make it
profitable A super market can be profitable in a town
of only a few thousand. Put yourself in the
right place at the right time!