There are many keys to
running a business that go beyond the skills you usually learn about in lecture
halls and classrooms. Toi Alexzandria knows this just like any other businessowner does, as she is the successful owner of a makeup and hair salon in
Southfield, MI. Below are some challenges you can expect to take on while
opening a new business.
Gaining Clientele
The first quarter of a
brand new business can be extremely tough. It is essentially the “make it or
break it” period where the business needs to make enough money to at least
float the payments for rent, materials and staff. That is why your initial
marketing and sales efforts need to be especially aggressive so that you gain
clientele quickly and get the funds you need to continue growing your business.
Plans for Growth
You need to have a plan
for your business that involves comprehensive procedures on what to do when you
achieve the kind of growth you are looking for. In other words, plan for
success, and be ready to expand when that day comes. At first, having demand
exceed your supply is a good sign; but after a while people may get impatient
with your business and move on to your competitors. In order to save all that
business, you need to be one step ahead of their demand and make sure you have
the resources to be of service to them.
