Success is not complicated, it is simple, but people over complicate the process.
There are at least 1.8 million small businesses in Canada alone. It's not the competition that determines if a business fails, it's the business strategy, obviously that depends on if the business owners have a strategy at all!
20 years ago there were no online opportunities for businesses, sellling tended to be cold calling, either face to face or over the phone. That still happens but the success rate is much lower than all those years ago. The internet has made life easier for businesses and consumers, there is much more choice in whom to do business with and of course whom to buy from.
As a consumer you know that you have your own personal likes and dislikes about products, services, which determines where and with whom you will do business and spend your precious dollars. Online sales have rocketed, due to even more choices and of course competitive prices.
For those busnesses who do not sell online but advertise on line it's not a lost cause, yet, but it all depends on how you operate online.
First and foremost you need to be found in order for a customer to buy from you. The new business owner who decides to jump in and start selling from day 1 without a plan, a process, and being prepared is bound to fail.
A few simple steps to ensure you have a great start for your business :
- Build your brand first.
- Research your target market.
- Build your trusted network.
- Know which online resources, platforms suit you and your business and how to use them effectively.
- Be a part of a community.
You will succeed if you don't rush the process. The failure rate for new business owners is high, which then creates lack of trust where consumers are concerned. They often choose a well known brand due to their credibility and longevity.