What You Need to Start a Business!

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Quote of the Day:

“What do you need to start a business? Three simple things: Know your product better than anyone, Know your customer, and have a burning desire to succeed.” Dave Thomas

Meaning of the Quote:

You need three basic things to start a business - Be a master of your products, get to know your customers well and have a need to succeed.

Discussion of the Quote:

As the quote states, there are three requirements to start a business - 1. Know your product. Why? When you know and use the product or service you sell to others, then you will be quite confident when selling it to your customers. Product knowledge is vital for your sales skills. When you understand your products features and benefits, you can accurately present them to your customers in a persuading way. Customers appreciate people who show confidence in themselves and what they are selling. They can turn the products features into benefits for the customers. Also, they are able to make the sales process an enjoyable experience for the customers.

Another requirement to start a business is to know your customers extremely well. It is important that you know your customers beyond the basic - name, age and income - know your customers interest, hobbies, tastes, what they watch, listen to and read. These are important for you as a business owner to know so that you can understand what your customers want and the most effective manner of making your products or service available to your customers. Additionally, you need to know your customers’ buying habits so that you know the type of persons who are most likely to need or want the product or service you provide.

The third important thing you need to start a business is that you have to have a burning desire for what you do. It is this desire that will fuel you to continue along your journey no matter how difficult the going gets. It is what makes you work through the challenges and rough patches. It is the wind beneath your wings that will allow you to fly and soar no matter what storms you encounter in your business world.

Final Thoughts:

You need three simple but very vital things to begin and to sustain your business. You have to be the master of your product or service so that you can sell it to your customers. Also, you have to know your customers and be able to know their needs and how to solve their problem or eliminate their pain using your product or service to do so. Also, you have to have a desire for doing what you are doing. It is what will get you through the ups and downs of your business journey. Your ultimate goal is to make your customers' lives better by providing them with your product or service.

I appreciate your time, comments and likes.

To our success

Kind regards,

Nichola


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Recent Comments

17

Excellent information Nichola, thank you very much!

Hi Claudio,

You are welcome. Thank you very much! I appreciate your time and your very kind comment. Wishing you the very best!

Kind regards,
Nichola

Good reminder of the key ingredients critical for any business. Thanks Nichola.
Hugh

Hi Hugh,

You are welcome. Thank you! I appreciate your time and your vald comment, Wishing you the very best!

Kind regards,
Nichola

This is a very practical post. I think lots of us need to take it to heart particularly the passion when things seem to get tough.

H Jim,

Thanks for stopping by and making a valuable contribution to this discussion! Wishing you the very best!

Kind regards,
Nichola

Hello Miss Ambassador
You have given the 3 significant factors of being successful I'm your business.
If these are followed consistently then we are always one step ahead on achieving our goals

Hi Simone,

Thank you! I appreciate your time and your valuable contribution to this discussion. Wishing you the very best!

Kind regards,
Nichola

Exact and precise formula! Thank you for sharing.

Love and Prayers,
Shahlla

Hi Shahlla,

You are welcome. Thanks for stopping by and making a valuable contribution to this discussion! Wishing you the very best!

Kind regards,
Nichola

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