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 your business.
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 business.
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!