4 Tips For Entering the Competitive Business Landscape


So, you’ve got a great idea. You’ve crafted a solid business plan, you have some capital behind you and you’re ready to take the plunge and give it all that you have to make your dream a reality. Careful planning, a relentless drive to succeed and the stubborn tenacity that never takes no for an answer are the most important ingredients that you will need to make it happen. However, along the way, there are plenty of practical steps that you can take that will certainly play their part in helping you to reach your goal.

Finding the Right Space

Renting an office is usually one of, if not the biggest expense for any small business starting out. Fortunately, there are plenty of companies that offer exceptional quality serviced offices as a fraction of the price. Trusted names, such as Servcorp (http://www.servcorp.com.au/en/), offer beautiful, convenient spaces in prime locations that are fully equipped with everything that you will need to conduct your day-to-day business. Serviced offices offer everything from meeting rooms to WiFi, receptionist services, printing facilities and much more to help you present a professional image.

Online Presence

A user-friendly, smoothly functioning website is no longer a luxury. It is an absolute necessity for any business that wants to be taken seriously. Beware of cheap deals that appear too good to be true – they usually are. Just like a cheap car, a bargain-priced website will either look terrible, perform poorly, or come with significant catches that will limit its ability to grow along with you. Remember, your website is the public face of your business and your 24 hours a day, 7 days a week, 365 days a year sales staff. A good website will last you 3-5 years in most cases, so over that period of time will work out immensely cheaper than employing a sales person, so rather than scrimping, make sure you commit the time and resources to getting it perfect.

Plan For Growth

Of course, no-one wants to get too far ahead of themselves. On the other hand, the last thing you want is to reach a certain point of your growth where you turn around and, in a panic, ask yourself “what do I do now?” Putting together a detailed business plan that takes into account multiple growth scenarios is an absolute must. Inevitably, you will find that the business evolves in ways that you probably did not foresee. Nevertheless, at least having a general idea of where you are headed will help you to stay focused and moving forward towards a defined goal.

Understand Your Target Market

The business battleground is littered with the bodies of businesses that failed to properly understand their target market and paid the ultimate price. Even the best concepts can fail due to not meeting the wants and needs of the people to whom they are targeted, leaving the door open to potential competitors who have a stronger finger on the pulse. Whether you do your own research, engage a third party, or utilise cutting edge customer feedback tools understanding how your customers think about and use your product or service can be the greatest asset that you have. This information will be crucial when making the decisions that will drive the future direction of your venture.

Today’s business environment is more competitive and cut-throat than at any time in history. Conversely, the global nature of modern business offers previously unheard of opportunities for enormous success. If you play your cards right, you too have the chance to make it big and achieve your dreams.

Like this post? Want more great articles? Check out our newsletter to receive exclusive content sent only to the select few who subscribe. We will even start you off with the bonus 10-part eSeries Don't Envy the Successful Entrepreneur - Become One!"

Speak Your Mind