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.
