A: Male or female, as entrepreneurs, we all have a duty to give back to the communities that support us.
“No man is an island” and, as such, we should openly share our expertise, our resources and our knowledge with others in our geographical and professional communities.
Such sharing makes all of us stronger by supporting both current and future generations.
The biggest challenge in business is coming up with new ideas, products and services. Creativity is very difficult if you always continue to do the same things for many years and are afraid to change because you may make a mistake.
The more we do things the same, the harder they are to change. Try folding your arms. Now fold them the other way. It’s not easy, is it?
Once you have a set way of thinking, it is sometimes hard to think differently.
In business it is essential to always think about ways to improve your product or service and think about how it can be better. That is the challenge!
Think of new ways to enhance your products or services. The customer will tell you how to improve your products or services. An unhappy customer will complain and a solution to the complaint must found or you lose the customer. You always need client, customer and consumer feedback. How can the business improve the products or services so that the customers you want to reach are happy and want to continue to do business with you.
Be creative and think of new product lines and new markets and stay competitive.
State the problem. Add something, change it, make something bigger, make something smaller, eliminate something, or substitute something. It is essential to know your products and know your customers.
Analyze great ideas and look at why they succeeded, what did it do for people? Why do people buy it? How much will they pay for it? How long was it popular? When you have a new idea you must know “who will buy it?” and “how much the customer will pay for it”? Always try to increase sales with new items and bring in more customers or old customers looking for the next new thing that you have to offer.
The more ways you can sell a product the better. All sales must be tracked and as soon as sales begin to fall the next new item has to be ready to be introduced. This is one of the many challenges in business and those who do this best continue to be successful for years and years. Expanding your market, increasing your business and always knowing that you have to make a profit are the key to business success.