Top Tips for Entrepreneurs
Monday, January 15th, 2007KNOW WHO YOUR CUSTOMERS ARE
Whether you are running a successful business, social enterprise or charity, you need to know who is buying your goods or services, and whose needs you are meeting. The greater your understanding of people and their needs, the more successful you can be in meeting those needs and growing in business.
UNDERSTAND THE DETAILS OF YOUR BUSINESS - in particular the thing that drive costs
The greatest vision in the world will only get you so far - if you dont have a clear understanding of what makes your business work, you cant plan strategically or make good decisions. Build a simple financial model. The process will make you think carefully about all the cost items you will have, and playing with the numbers will help you identify the activities that drive your costs.
