Three Things Every Business Owner Needs to Know

[Holicent]

There are three things that every business owner needs to know - what customers like, what they dislike and what they expect. The good news is that customers want businesses to get it right. They want to be treated with respect and for their needs to be met. This is a fairly safe assumption because if you don't provide this service, your competitors will.

In a study I conducted last year, I asked a group of consumers to read descriptions of businesses and judge whether they were sincere or fake. Sincerity was defined as “honesty and authenticity.” The participants judged sincerity by the descriptions of each business’s mission statement, brand identity, social media presence and promotional materials. They also gave feedback on how sincere they thought the businesses were across a range of attributes from their website to their products. The results were striking: Consistently, across all these measures and attributes, consumers judged those who seemed more sincere as better brands than those who were perceived as less so.

And this was true even when participants didn’t actually know what sincere meant
But what do customers really like? Do they prefer sincerity in business? The answer may surprise you read more

 

[Chibson]

Having a business is very good but at the same time, it doesn't mean you will succeed. There are a lot of people that have ventured into several businesses but on the long run they were not able to succeed in such a business venture.

If you want to go into a business there are some basic things you must put at the back of your mind.
Firstly, you must ask yourself what your customers really needs. Having the needs of your customers at the back of your mind as a business owner will definitely drive you to be quality oriented and therefore that alone can go a long way in giving your customers trust in you.

When you are able to win the trust of your customers you will probably succeed in a business venture no matter how competitive it is.

Knowing what your customers dislikes is also very important because it can help you to make adjustments. This is why it is always recommended that anyone that wants to venture into a business currently must I have social media presence.

You must use social media platforms to seek the opinion of your customers as a business owner . It is through there that you will know what they like and what they dislike and therefore, giving them what they expect.

 

[Mika]

In my opinion, every business owner needs to know just two things, one, what they are selling (product), and two, how they are selling (marketing). All other things will come under these two categories. When you want to do a business, you will have to build a product that your consumers will like. What kind of product do the consumers like? Consumers will like a useful product, a quality product, and a product that is affordable for their budget. Therefore, as a business owner, you need to create a good product. Just because you have a good product is not enough to drive sales, you also need an effective marketing method. Effective marketing methods mean using the methods that appeal to your consumers, using methods that will help your product reach your target audience. A successful business is 25 percent product and 75 percent marketing. You need to remember these two rules.

 

[Ithedicious]

Your link is not working. I am very much interested in this because , maybe this is something that can help in the future if I am interested to start up my business.
Personally I have some arrangement and plants and preparation of things to put into consideration when starting a business and example of all these things are as follows.

1) The needed capital is the most important thing when thinking of establishing a business , i cannot just go into a business without having the needed capital and in most cases if the capital are not available the business might be so stressful that you have to spend a lot of your time trying to raise money and manage the business on a strict budgets which in most cases will not likely to favour some business. As a result , they needed capital must therefore be available. Although this depends on certain business. you have to put your business into consideration on when before starting.

2) The second most important thing is customer satisfaction and so many business owners do not consider this as a serious responsibilities they have to do. we also have to understand that there are so many competition in business nowadays and we should always try as much as possible to satisfy our customers in all that we do .