Recall that passion for what you do or your said business was the first core value highlighted in this secret to home and small business success. If you are yet to integrate that in your existing business or in choosing a business to startup, kindly do yourself a favor. Stop reading this publication now, revert to the previous series on passion as a core value and implement it appropriately. Should you require help, do not hesitate to reach me.
Come with me to this second very crucial core value or better put guiding standard to your business success.
[2] AMPLE AND GROWING MARKET
Just before you continue with your existing business or take the much awaited courageous leap into setting up a new one, pulse for a few hours and get this right, for any business to truly survive the present day economic recession it must be able to generate a steady and continuous positive cash-flow. In order words, your home or small business total monthly or quarterly sales must exceed its corresponding expenses.
Of course, you can achieve that from when you first opened your doors of business! The game is, you would need a steady growth of potential customers who are convinced and willing to order as well as pay in exchange for your passionate good or service.
The aged long application of the principle of barter in obtaining what they need still applies but just this time, they’ll be paying you for the reward of your goods or services in cash. Drum what you are about reading next into your entrepreneurial mindset. And that is, you could offer a wonderful product or service, run advertising campaign and develop all sorts of marketing tools and attractive sales programs to get your wares of the shelf for tons of cash flowing into your business account as you projected; unless there is a large and growing market for this value-rich wares of yours, sales will keep declining till frustration sets in. Well, that’s shouldn’t be your business lot. I have been through that way before; it’s a path to failure, loss, debt and pain. You don’t deserve such and that’s one good reason you might want to pay close attention to what I am sharing with you.
The very best way to attract and retain sales for a positive cash-flow in that business for which you are passionate and gifted at is to choose that for which there is a high people-demand with a potential for increase in the said demand for another three to five years.
Here is a very useful but quick checklist to X-ray that existing or new home cum small business idea of yours if it qualifies to pass the ‘ample and growing market test’ for business success:
Is your business product or service positioned to achieve one or more of the following?
1. Solve more people or societal problems.
2. Meet one principal need of those for which they are targeted at.
3. Satisfy some constructive desires or tastes of humanity.
Should your answer be ‘No’ to any of the above, you may need to take a second look at that business again before proceeding. Solving societal problems, meeting people needs and human tastes or desires make up the bulk of today’s successful businesses. Plug in with one, whether as a home or small business, but make sure your prime motive is first to GIVE value-rich services or goods towards meeting at least one of this innumerable needs of your target market.
When you’ve so done, wait and see how your income turns in with the rush of instant cash day-after-day.
To your success.
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