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How To Run A Business 101

How To Run A BusinessIt goes without saying that in order to own and operate a successful business (ANY business), you must have products or services  that delivers on what it promises. It must be effective and appealing and most of all, YOU must believe in it.

Next is Branding. You cannot only rely on the product brand name but on yourself. Representing yourself as a reputable purveyor of your product and/or service throughout your community and beyond is just as important as what products and/or services that you are selling.

A customer may love your product but dislike the seller/service provider. You must be professional at all times. How you present yourself is going to take you a long way since your service is not only presented via advertising but thru word of mouth. A clean, well lit store (salon or office) is essential. A calming and clean atmosphere is appealing and will make the customer feel comfortable and reassured. The product(s) represents itself but YOU represent not only the product and services available but who is performing them.

Of course selecting employees is the next thing on your list of insuring a successful operation. Are they well trained, honest, presentable and knowledgeable regarding what you are asking the public to pay for? Do they speak to customers with confidence and believe in what they are selling? Do they arrive for appointments on time and in a cheerful mood? Do they treat your customers with respect? Are they the absolute best that you can offer your clients in the way of branding your business and your product/services?

Interviewing a prospective employee is an art form and there are many methods that work in order to weed out the people who are only interested in making a quick buck and than going home from those who exude confidence and a real interest in what they are presenting. Make use of these tried and true methods BEFORE hiring anyone.

Here are a couple of links to the various techniques:

There are many more so do your homework…it WILL pay off. Hiring the wrong people can destroy your business and your reputation. Remember where everyone that works at your business is concerned, “discretion is the better part of valor.” Gossiping about clients to one another or to other clients is the kiss of death.

Keep records; client lists, vendors, ad providers, digital service providers and of course bookkeeping services. Keep your insurance up to date and make sure that you have the right kind for your particular business. Do NOT be vulnerable. Comply with all Licensing laws and State rules and Regulations AT ALL TIMES.

Overhead……there’s an old saying, “Buy low, sell high”, as old fashioned as that may sound it is important. Keep your services affordable but make sure that your overhead is covered and that there is a profit at the end of the day. Without profit you are running a hobby not a business.

Finally, the old adage: LOCATION, LOCATION, LOCATION.

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