What you know..you don’t know
According to Sofia…There are many people that simply don’t have a clue about the differences between an establish business and a new start-up Business.
In a well establish business most things are sorted out and everything are properly organized, however this are simply not true for a new business. Since there are many things which are still uncertain and which must still be optimized….this can put a tremendous amount of pressure on the business owner since there are many things that are still uncertain.
Each and every day the business owner will encounter situations that are totally foreign and which has to be figured out as he goes along as there simply are prescribed way in which to handle those situations, since they have never been encounter before. And this is what makes a new business so risky, there are simply so many unknown factors which mostly cannot be predicted and therefore the owner are left with no other choice but to handle them as they come and whatever decisions are made are many times not the best. There is where a business coach or mentor can be of help.
Build a Team
Many investors have started large companies and then they have employed managers with many years of experience, but all of that experience did not prepare them for the uncertainties of that new business. They were exactly in the same position as the average new business owner and they all had to learn from scratch. That does not mean that experience has no benefit it’s just that the new business has its own growth pains and each business will come through that start-up period in its own way.
The best thing that the owner of a new business can do is to make the best of the situation and to make the best possible decision as different situations arise.
Predicting the Future
There are no way in which any business owner can predict or anticipate all the things that might happen, and it may even happen that a decision that works well the one day, may not be so effective the next day. Therefore it is absolutely necessary to improvise as you go along. New business owners often have no other choice, but to run that business on a trial and error basis.
Any start up business will depend critically upon the feedback which will be received from customers, since this often the most important indicator of how they are doing with this new business.
Any new business are only as successful as their customer say that they are. Therefore it is vital that every opportunity be used to collect as much customer feedback as possible, since this will be vital in order to fine tune that business to ensure that it becomes even more successful.
Using Surveys and Questionnaires
Use surveys and questionnaires to gather information from your customers…even offer an incentive for completing the survey..