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How to make a new business successful?

If i was to start a new business, such as a shop or take away etc..something low scale like that, then how much of the daily revenue should I allocate to marketing? expenses? and what other categories are there (such as marketing, expenses, savings) to make the business a real monemaker and success. Also what makes successful business such as these to work? Finally: how does one find the people and the resources if this business was to expand say in a few years and how should all this be done? Please also give any websites that can help with any of these queries. thank you x

Public Comments

1. You want to become successful start selling ipods they are all the rage at the moment. Just remeber every business has competition and you must crush the competition.
2. If you were to start a small take-away business, the point is take-away. The most important thing is a prominent position, and making an attractive shop front to attract customers. Marketing for a milk bar is zero, as is the local fish and chip shop. A takeaway such as a pizzeria can benefit from a pamphlet delivery campaign. Most of the large take-away corporations had very humble beginnings. Marketing wasn't their first concern. Their first concern was selling food. People and resources are easy to find, but in a fledgling enterprise it is more of a concern to keep the business alive. If you can last for more than 2 years then you have a chance. As to gaining small business knowledge, never underestimate community colleges. A small business management course will help you to focus your ideas and, more importantly, how to write a business plan.
3. The initial process you need to complete is market research. Are you going to offer a product or service that people are either going to buy or going to use. Who are your competitors in the local area? Who are your competitors in an expanded area (if you are looking to reach markets beyond your immediate area)? What is their sales volume? You don't necessarily need to inspect their books to find out their volume...is their parking lot always full? What you could do prior to launching the business, is draw up a simple questionnaire and use feedback from it to determine whether you will attract customers from your competitors. Go to grocery stores or the mall and ask people to complete the questionnaire while they shop and just drop it off when they leave. This won't cost too much and as long as you give the prospects a clear view of what you are offering, the questionnaire will draw attention. The four Ps of marketing are product, price, promotion, and placement. Be sure to include these 4 elements when informing the prospects about your new venture. You can't be everything to all people. Don't be afraid to narrow your business to a local area in the beginning. You can always grow but it can be painful to start too big and have to downsize. Ron, ChFC
4. Hello friend : All question you asked , and answers you have , equal to "" business planning "" if you are not familiar with business planning , i advice you to study it or take training BEFORE take any step in your business. I can't over emphasis the importance of planning before you take any step , but i'm sure you agree with me you don't want to waste your money and time , then discover that the business is not profitable. If you need help in business planning , just email me , i pass theorugh this stage before.
5. I would say in this climate don't bother. Unless you have big connections and very deep pockets, treat yourself to a holiday! You will always have very stiff competition, no matter what you sell. So unless you are lucky enough to establish a following, don't bother. But, in order to limit financial damage to your wallet, go for a cheap on-line business... How about an online Letter Generator. With all the post offices closing around the country you could set a web where ppl could write letters for the stamp fee plus charges. You will handle/outsource the posting. No need to walk miles to a postbox. Think of the benefit to rural communities or waiting to buy stamps...
6. Well starting a take-away business (assuming you mean like Got Junk? or Cash for your Trash) will eventually allow you to opening a "junk" shop. So it's a win-win situation. I'm sorry I don't have websites but I wanted to mention that two very important things are 1-have a Business Plan. This is like your supermarket check list. If you follow a business plan you will budget all your costs timely or even ahead of time and know what to expect next. 2-Marketing. You can put flyers on car windows, in mailboxes, on local post boards, etc. Keep it cheap and simple at first. Once you make a few dollars, refer back to your Business Plan and take the next steps or upgrades that are workable. If you do an online search for free or sample Business Plans there are some good ones to download or print out. But keep searching because most you'll find want to be paid for by consultants. You don't need a consultant if you know how to budget and/or follow a "list" Good Luck to you!
7. the key to being successful with a shop or takeaway is to offer something unique. If you are thinking of opening a takeaway of some kind there will be a lot of competition so dont fall into the trap of everyone else and sell cheap. Get the best quality ingredients, offer the fastest service and charge reasonable but not cheap prices. Look a marks and spencers sandwiches expensive but lovely and their are always hoards of people wanting to buy them. As for expansion this will come as you make profit and should be an easy progression. get as much free professional advice as you can before you start, business link are good and your bank. get yourself a good accountant dont make the mistake of trying to run your accountants yourself and make sure you keep your accounts upto date on a weekly basis. good luck