Ingredients needed for success in business

Every business has the same goals, vision, objective and aims of succeeding and attaining the main reason of setting up a profit oriented business.

Business often fail as a result of poor management, a business that operates on liazez_faire management (a manager who care about his surboudinates) will find it difficult to attain his aim and objectives.

Core ingredient

Just like a fried rice prepared by your house wife which lack some important ingredients like curry, carrots, green beans. A business lack the following important ingredients will find it uneasy to succeed and close down in no time.

MARKETING

This is bringing to the awareness the public about a new product or service or an existing on to boost it moral. Business might be inform of online [NNU, Forex trading, blogging.. ] or local or offline business. Web advert or online marketing is now the most fastest way to get cross to million of people in this day generation. Facebook advertising and Google AdWords are the most reliable web advert to give millions of patronage. I have compiled here ways to promote business locally to reach target audience.

CONSUMER PROTECTION

Consumers are also the core ingredient to succeed in business. Business life span depends on its consumer as they determine which product to buy, which service to call for, it's quality and many more.
A business without or less patronage will find it difficult to succeed in the life.

Consider a product or business without people patronizing will never have a better future, hence consumer should be well treated so far business is concerned.

Do business often fold up?

Here comes a question asked by a user on Quora forum. Click to read best answers from geneious.

I will answer the question to be YES. business often run into loss and fold up in no time if some of the below aspects are not put into consideration.

Needs for success in business.

- Efficiency
- Knowledge
- Skills
- Organization
- Happiness
- Stress
- Customer relations
- Customer demands
- Recruitment

Efficiency

This is the most vital aspect a business that wants to succeed should conversant of. Working productively avoiding waste in resources. Resources might be inform of money, material, time, effort, skill and so on. A business may fold up in no time if this aspect is not take car of.

Knowledge

Understanding the certain phenomenon information or awareness gained through experience or education. Having enough knowledge and understanding in the business is also important in the success of a business.

Skills

Skill, knowledge and experience goes hand - in - hand. This is the ability of making use of knowledge effectively.

Organization

Employees must be well organized to ensure effective work force. Workers with settled minded only carry out their work with no problems.

Happiness

The workforce must always made happy with good and attractive salary, packages, miscellaneous and good working conditions, understandable system of work, clear organization structure. Employees especially in the production department should be made happy always to enhance productivity.

Stress

The working environment must not be stressful for the workers. A single piece of pressure on employees might distract their attention which may drive down productivity.

Customers relation

Customers are the king 👑 that's why they're one of the core elements of business. A good business will take this aspect so serious by allowing the customers to comment their thought on the product or service consumed which will surely improve their quality.

Recruitment

The manager of a business needs to employ strong experienced workers, management team and support to their decision.

Customers demand

Customers are the determinant of the future of a business if their demands could be met they will be more eager to patronize the business and hence determined the success of the business. Customer demand should be adequately take care of; it is good to meet customers needs, challenges, and wants.

In a nutshell;

Every stories behind a successful business is their customers and the good quality products and services. Good managerial skills is also one of the vital aspect a business should be conversant of.

NB;
All image credits goes to google

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