Thursday 8 January 2015

Three Ways To Ensure Your Business Funding Doesn’t Go To Waste



You have investors counting on you to make the business succeed. You have enough business experience to know that your business could work. However, regardless how passionate you are about your funding, you might have some flaws perceiving your accumulated experience. Here are three ways to ensure you don’t waste your business funding.

1.    Success Based on Pattern
Most proprietors anticipate success based on historical perception of patterns. This is a false argument. Businesses that use these pattern-based ideas about their businesses anticipate success as if it was scheduled. The reality is that markets move differently as every business is unique.

2.    Best Practices
Best practices are great as starting tools for business methods. But if you couldn’t adapt these best practices and old formulas to boost your business, you’ll find yourself in some serious trouble. The best way to resolve business issues is to ask directly the opinion of complainants, i.e. your customers.

3.    You Aren’t The Target Consumer
Remember, you are providing the service. It doesn’t mean that the customer identity you’ve pegged, which could be based from yourself, is agreeable with the real consumers who would use your products or services. You are providing the service, you are shaping it and it is the business’ responsibility to provide a solution for the consumers, not about the problems you as the proprietor are complaining about as a consumer.