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10 recommendations to drive a business successfully

Toby Hartnett, September 15, 2023September 15, 2023
  1. Define the objectives and goals: Luis Felipe Ruiz Ramírez, administrative engineer from the EIA University, master in Technology Management from the UPB and entrepreneur, affirms that before promoting a business it is necessary to know where you want to go, that is why It is important that objectives and goals are established, these must inspire both the entrepreneur and the team and must be realistic to guide the work according to the context capacity building.

Once defined, a work schedule must be linked to them that allows establishing execution deadlines and being constantly evaluated to identify points of improvement and make the necessary adjustments according to the evolution of the business.

  1. C reate a solid business plan: Lina Uribe affirms that having a clear and defined business model is one of the most important elements when creating a venture, for this it is necessary to identify aspects such as competitors, the target audience and growth opportunities; Additionally, it is recommended to seek mentors and carry out tests that allow us to understand how the business plan is, to adjust it and adapt it to changes in the environment.
  2. Strengthen skills: no matter what the business is, entrepreneurs must develop and strengthen their skills in creativity, strategic planning, leadership, effective communication, finances, adaptability, control, among many others. This will allow them to make decisions, innovate, act in times of crisis, effectively lead the work team and stand out in the competitive business world.
  3. Work for customer satisfaction: it is important that customers are always happy; to achieve this, a comprehensive approach is required in which different elements converge:

Know the needs and preferences of customers, through surveys, market studies and other analyzes related to consumer behavior.
Offer excellent service and train employees so that they provide the best service at all times and know how to handle problems efficiently.
Maintain active listening with users, responding to complaints and suggestions, this will allow us to correct errors and improve customer satisfaction.

  1. Keep finances under control: proper financial management is essential to maintain the survival of a business. In this regard, Luis Felipe mentions that you should review whether you have enough working capital to finance initial operations, build a monthly budget and keep a rigorous record of income and expenses.

It is also necessary to have a cash flow that allows the entrepreneur to make payments on time, taking into account that personal finances must be separated from those of the business; and if necessary, have good financial advice that ensures the health of the business.

  1. Create a solid team: once the business is established, it is necessary to consolidate a good work group that has the experience and knowledge so that the mechanism works under a common vision, in which opportunities for growth and continuous training are offered.
  2. Make the business visible on the Internet: it is increasingly necessary for businesses to have an online presence, since this benefits them, bringing them more recognition, improves communication with customers, saves on marketing expenses, increases customer confidence. people and in the long term improves the reputation of the brand.
  3. Constant innovation: Lina Uribe defines innovation as the transformation of what exists, to generate added value. This process must be constant so that the entrepreneurship remains relevant in a competitive market, whether with the discourse, the way of selling, connecting or creating products and services.

To achieve this, you must identify what you want to innovate in, research and analyze the market, know the latest trends, brainstorm ideas and select the best ones, develop an action plan, implement it and measure it.

  1. Establish strategic alliances: Alliances help drive business by allowing you to reach new markets, improve visibility, create new connections and launch new products or services. When thinking about who to make new alliances with, you should consider what is needed from others? And what does your brand have to offer?
  2. Analyze and evaluate business performance: studies should be carried out periodically on business performance to identify areas for improvement and opportunities. It is recommended to identify KPIs, use data analysis tools, evaluate the competition and obtain customer feedback.
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