You Will Lose Your Business

As you start a new business, it comes with all sets of rulesfrom the law. And you realize there are many restrictions and you need to domany jumping around to get your boat sailing.

But then the customers won’t come. It doesn’t matter if yourbusiness is of huge importance or value.

You have to market yourself, be valuable, the customer needsto want it, and the price should be reasonable in their minds. When all ofthese things work in unison, you get a business which floats by bringing inmoney, which helps it to sustain for the next day.

Yes, that money you get is barely enough for you to keepyour business alive. The staffs are getting paid, customers enjoy your service,and you can’t draw a salary.

You need that extra money for emergencies. It goes on forabout six months, and still, there is a fear that the business might go out.

So basically, in the process of starting a business – youmight do all the work, employees get their experience, customers get theirservice, and you end up with no money and probably in debt after all of this.But not all is sad; you gain invaluable lessons in the process like in everyfailure in life.

The Lucky Business

Sometimes you can get luck with your choice of business.Maybe you are the first one to set up a restaurant of pizza. Or you have someland in a lucrative location where many potential customers pass by.

Being at the right place, selling the right product orservice and pricing things reasonable, you may find yourself in a sweet spot.

But that lucky business can’t always stay in business if youaren’t actively creating happy return customers.

Because the competition will soon catch up and there will bemany options other than yours to get the same deal. At such situations, otherthings like customer experience, service, and respect come into play.

And if you mess that up, you will start to lose loyal customerstoo. It can be a simple act – giving a refund of an item because it is faultyand beyond the refund period. You may choose to do this as an exception for aloyal customer, and she might find value.

At last, you need to find your ‘X’ factor for which thecustomers will stay with you. Only then you will win the game.

Times Change

One business which is lucrative is to buy high-end equipmentand charge people peruse. This way, you will recover the money quickly, andthen it’s merely profit.

For example, for the longest time, many businesses boughtscanner because no household wants to buy high prices equipment for rare usage.So the business flourished. And they purchased many such types of equipmentlike Xerox and other things.

But technology is running faster than you can imagine. Nowyou can scan things from your Smartphone and click photos on your phone andusage of high-end equipment isn’t much required.

The moral here is to be ready for new changes if you arebusiness owner. The uproar, the change won’t be with invitation.

So you can sit and get surprised by the innovation. Or youprioritize seeking innovation – new way of doing things.

Because if that becomes new normal, you are ready to eitheradjust or venture something new. There is no surprise, only forward momentum.Don’t let your business lose because of being comfortable in your currentsituation, the ripple is coming.