Major criterias of starting and managing a well established business

[Hagson1]

Major criterias of starting a business, for someone to start any type of business he or she most have the quality of a good business man. His ability to manage and coordinate the business is very necessary if not he or she may end up with a failed business. In addition to that capital is also very necessary because for you to have output there most be input. And that input is your capital. In addition to that what are the other factors I have to consider because starting a business.

 

[Jasz]

Starting and running a business is no easy task. It requires a great deal of knowledge, effort, and interpersonal skills. Here are some of the major criteria for starting and managing an established business.

1. Your Business Must Have a Credible Brand Name

Your business must be recognizable as an established company if you want to grow a large customer base. This means that your brand name and logo need to be recognizable, and your branding should be consistent across all forms of media (print ads, commercials, etc.).

2. You Must Set Up and Maintain an Excellent Website

An effective website is a necessity in today's digital world. If you want customers to find you online, then you must create an effective website where people can learn about your products or services, see pictures or videos of your products/services, and connect with you on social media sites like Facebook and Twitter.

3. You Must Offer Unbeatable Customer Service and Support

When a customer puts money down for your product or service, they will expect good customer service and support regardless of what stage they are at in the buying process (initial contact, purchasing decision, after purchase). They will also expect that their questions/concerns will get reasonable feedbacks.

 

[funmi]

There are several criteria we must posses before starting a business, we must analysis a lot of factors before embarking on the business venture that we have in mind to do. The first I will like to highlight on is having a very good knowledge of the type of business we want to start. Then we need to also need to take a deeper look at our competitors running the same kind of business we want to start.we need to look out for the weakness of our competitors when we look out for their weaknesses we will explore it and use them as our point of strength.

This is a major strategy one can use to overcome and outshine our ones competitors in that way you will be able to manage your businr very well.

Another thing that affects a business venture is availability of working capital. If a business does not have enough working capital it will lead to borrowings by such business owner and this will greatly affect the growth of the business negatively. As the profit that was suppose to accrued to the business will be used to settle up both the interest and principal from the loans.


Then every wise business owner must consider the location where it hr business will be located as this has a major role to play in running a business.

 

[TOZZIBLINKZ]

Managing and controlling activities in a business environment is not easy that is why it's called so a business manager who has professional and a detective skills to handle a business day today going concern . A lot of factors exist that constitute the managing and the control of business-related activities , it should also be understand that in managing a business , the manager himself or herself , must be delegated in carrying out his or her role . And as part of his duty , decision making concerning the business activities and practices is expected to be carried out by the manager usually at the end of a year . For your business to be firmly established , a quality and good customer service must exist within your business environment .

Funny as it may sounds , most businesses whose vision is to make profit and sales to their various customers and clients I like good business customer service , and as a result of this they are not making profits because members of the public are not attracted to the goods or services the business render . Finally selling and rendering good quality goods and services also counts for a business to be firmly established . Selling of quality and effective goods and services no doubt entice your customers , clients and consumers to patronize you when they are in need of the same particular good or services .

 

[Kingsley]

Not everyone has the ability and qualities to run a business effectively and efficiently. But unfortunately somany are rushing into businesses that they do not have the slightest idea about they think owning a business is just getting a space and buying a few product or services and start off buy reselling at a different price and go that reason they are good as business men and women. Starting or running entaile just more than that, it entails having a very sound understanding of finance and sound knowledge of the time of business you want to run, I always advice those they a are preparing for a start-up to first look out for those that are into the type of business you want to start and go to them and stay them to learn the trade practically rather than just starting up without any practical experience, having practical experience is the first step you must take and it is major criteria for having successful in business. Another thing is having adequate fund before starting out so you don't end of taking loans every now and then that can affect your business profit and affect the growth of the business .

 

[Kendy]

There are major criteria for starting and managing a well established business. When the business plan is ascertained, the business should have a plan which would serve as a guide and keep the business owner in track of the business. There is no magic in business, what you put in, is what you receive. There is so much that is demanded of a business to succeed. Business demands beyond just spending quality time. If time is spent on the business and there is no level of creativity or innovative ideas, the business would not boom as expected.


The business plan should include both major and minor factors; the capital needed for funding the business, the location, government policies, marketing, competition, investors, sustainability and the management crisis technique for potential challenges beyond the control of the entrepreneur. Most businesses fail because they do not have a backup plan and when the business face some rocky storms, it collapses because it was not built on a solid foundation. A business can be managed if the business owner cultivates the attribute of discipline. Management of funds is essential and each business owner should try to improvise and also improvise in order to minimize their resources.

 

[Augusta]

Starting a business required different things apart from the capital. The truth is that you can have all the capital a business need but will lose them all if you are not careful. Business takes a lot to succeed so if you are not ready to employ all that it's takes then jt should be good as not starting.

With business you need to research about the business line you want to go into. Make sure that you understand the intracacies of the business and all that it entails.

Get labor force that understand what your business entails as well and how they can help you achieve to our goals. Don't go for only those with the right certificate, enoloy tose with the right skills and experience. Even as a new business owner you would gain a lot from their experience

Get a good mentor in the line of business to mentor you on how you can succeeed with the business. They are mistakes you can avoid but this will not be possible without having someone to warn you before hands

Get the right machine and equipment to be used with the business. This will help the workers to work swiftly.

 

[Setho]

We all know that starting and maintaining a business is not very easy but then there are some things that you can be able to do that is going to ensure you are going to get the best out of the scenario.

First of all you should always that every business with good planning. There is absolutely no time window that you should plan and do your will research and you should take as much time as you think it is going to make you to touch all the areas and you are going to be convinced that the idea is a good one .

Secondly the parameters for your business are also going to be very important . I am not going to advise you to take up any loans that have a very high interest rate, and also you should ensure that you are hiring your employees based on competence and you are choosing a location that is going to be very cost-effective and is close to social amenities .

One of the things that I also value about growth in business is the amount of partnerships that you are going to do . Absolutely everything matters from your partner's in security to marketing and social media.