The art of writing a business letter
The art of persuasion through ordinary writing is not available to everyone, but over time it is quite possible to acquire a similar skill. Writing convincing business letters is an…

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How to build effective business relationships
The ability to competently build business relations with business partners, customers and competitors is one of the most important elements in an effort to organize a successful business and create…

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How to make people listen to you in social networks?
Time magazine recently announced another four years tweet, which contains a photo of the president and first lady embracing each other in a hearty hug, as the most popular tweet…

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Ways to reduce costs
Every entrepreneur or business owner is constantly striving to increase profits and reduce costs when doing business. And in a difficult economic situation it is more than reasonable to constantly…

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Ways to reduce costs
Every entrepreneur or business owner is constantly striving to increase profits and reduce costs when doing business. And in a difficult economic situation it is more than reasonable to constantly…

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Is it possible to avoid the pitfalls in the business?

Many successful entrepreneurs and businessmen will not deny that on the way to the top of their careers, they had to repeatedly face failures and start a lot from scratch after failed business projects. Difficulties are an integral part of any business, but many entrepreneurs are not ready for them.

In most business schools, when creating your own business, they are taught to set one main goal, usually difficult to achieve, to achieve which you should give up all your strength and in no way turn off your chosen course.

A radically different approach is offered by Richard Christiansen, the founder of 32 small business projects with a financial turnover of between 5 and 10 thousand dollars, 13 of which make a profit of several million dollars. He recommends to act on the principle of zigzag, that is, to ignore the need to go to the goal ahead, and instead zigzags to bypass obstacles, while maintaining the course for the chosen goal.

Artificially slowing down growth and the need to change the chosen direction will not only help build a successful and profitable business, but also make the failure of any business idea more reasonable.

Here are some tips to help you get around obstacles to a successful business:

1. Evaluate in advance the profitability of the planned business project.
Christiansen recommends starting new businesses by analyzing their profitability and choosing the best and fastest way to make a profit. As for the distribution of financial resources, it is advisable at the initial stage to send 65% of the available funds to work on the recoupment of your business, 25% to staffing and 10% to increase the scale of the business.

2. Make your failure “effective.”
If your business does not start making a profit after a given time interval, which, if you follow the principle of Christiansen, is 3 months, then we can talk about the failure of your business idea. But it will be a “effective” failure, since it indicates that all further attempts to keep this business afloat will most likely be in vain. Having realized this in time, you will be able to correctly orient yourself at the very beginning and not waste time, time and money on a knowingly unprofitable business.

3. Learn to adapt and redistribute resources in time.
After your business proves its profitability, you should reallocate financial investments: 65% of available funds should be spent on staffing, restructuring and technical equipment of the business, 25% on business expansion and franchising, 10% on ensuring business profitability. The ability to reallocate resources in a timely manner is one of the key points in following the zigzag principle.

4. Do not fear the slow pace of development.
If you build a business on the principle of zigzag, you need to be prepared for the fact that the achievement of the final goal in the form of a stable profitable business will take more time.

What does a business work for and where is the main limitation of profit in retail?
Before we talk about what needs to be done to better manage retail inventory, let's agree on a common understanding of the purpose of any business. Not just retail, but…

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Listen to your customers
In case of possible failures in your business, you should not immediately climb on the wall. Just listen to the consumers, their opinion is your key to success. At an…

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How to come to the idea of a startup.
Screening To notice the ideas of a startup, you need to weed out two things: unattractive and unpleasant tasks. Most programmers, in order to start their own business, would just…

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