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3 Rules of Thumb for Entrepreneurs



As you plan your own business, you'll need to follow a set of guidelines to assure your success in the future. When it comes to avoiding a potentially disastrous business blunder, having a set of rules to follow and sticking to them can make all the difference. Entrepreneurship is not for everyone. This article presents three rules of thumb to help you decide whether entrepreneurship is right for you.

1. Understand your target audience

You may be excited about creating something new, but your potential clients must be equally ecstatic, or your product will fall flat on its face. If a product like yours does not yet exist on the market, it is because no one has seen a demand for it. Before you design a product, do your research. Determine whether a target audience exists for your product, whether it's wellness kits or high-end products, and whether that audience is prepared to pay money to get it.

2. Provide excellent service no matter what

Create a great staff that will deliver outstanding service to your consumers. For an entrepreneur who is still getting his bearings in the business world, nothing beats word of mouth. Don't tarnish your fledgling company's reputation by skimping on customer service from the start.

3. Don't Ever Give up

Giving up is not one of the things that successful entrepreneurs do. Just like Henry Ford says, If you can, you. If you can't, you can't.

Be aware that every business has ups and downs. Do not focus on what you lost, but what you can do better in the future.

Always surround yourself with positive people (not with covid tough LOL), drink a good tequila, and have fun!

These are just some of the rules that Entrepreneurs follow.

Then again, it's still your strategy and whichever works best for your business will help you succeed.

I hope you found this helpful.

Thanks for reading!

Renee VanHeel

Take my short free assessment to identify what business fits you most. Click here.

You can also call or text: 858-472-7295 or Book a 15-minute free business consultation with me.

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