How,Successful,Using,Business, business, insurance How to be Successful Using Business Basics

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Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-parent:"";mso-padding-alt:0in 5.4pt 0in 5.4pt;mso-para-margin:0in;mso-para-margin-bottom:.0001pt;mso-pagination:widow-orphan;font-size:10.0pt;font-family:"Times New Roman";mso-ansi-language:#0400;mso-fareast-language:#0400;mso-bidi-language:#0400;}Are you aware that all businesses are the same, as far ashow they work, and that those that are successful all use the same basicfundamentals to succeed?  Maybe it doesn’tseem like it, or perhaps some businesses seem to have the wrong focus.  Nevertheless, regardless of size, number ofemployees, gender or nationality, the basics are all the same. What are the basic fundamentals of a successfulbusiness?  First, it starts with a goodidea.  It’s that simple or difficult, butthe core of any good business started with a good idea.  However, be aware that all good ideas do notmake good, viable businesses.  Why isthat?  Let me explain. It is you who has the good idea.  The question then becomes whether anyone elsealso believes that you have a good idea, and most importantly, if they arewilling to open their wallet and pay you for what you are offering.  Think about this, because it is mostimportant.  For you to be successful inbusiness, there must be enough people who like what you are offering, will opentheir wallets and pay you for it, and do it often enough so that you will beable to stay in business, and achieve long term success.  Consider that the market is finite and demand isfinite.  Are there enough customers inyour market place to keep you in business? Is there competition for the same customer that can dampen yourprospects for success?  Even if there areenough willing buyers who can and will buy often enough to keep you inbusiness, why should they do so? The answer to this question has to do with positioning youroffering in the minds and hearts of your potential customer, so that when theyare in the market for your offering, they think of you as the solutionto their desire, not the other guy down the street.  How do you do this?   Most consumers consider all products to be what are calledcommodities.  This means that whateverproduct or service they are considering, in the mind of the consumer, they areall the same commodity, and the only difference is price.  So, they call around price shopping.  Yes, it is a good idea to save money.  However, would you buy a car without lookingat it, and test driving it first?  Wouldyou buy a new TV without looking at it first, judging its picture quality andsound, and determining if it has the features that you want?  Of course not.  So your challenge is to sell value andbenefit, not price.  You need to educatethe consumer so they understand what sets you apart from other offerings, andhow they cannot possibly live without what you offer, and how they willpersonally benefit by dealing with you and purchasing your offering. The next challenge is matching consumer demand with what youcan supply.  The two biggest killers ofbusiness are too little demand, or too much demand. Both are hard to deal with,and make life miserable.  What todo?  It is most important to accuratelyassess demand so you can conveniently serve that demand.  Slow, calculated growth can be planned forand lead to business growth and continuing success. Too little growth or toomuch immediate growth creates chaos, and can put you out of business. Next, it is important to understand that a business is notan empty storefront.  It is employees(even if it is just you) and customers. When you are across the counter from acustomer, consider that what they purchase will help you pay your bills.  Your attitude should be “Thank you dearcustomer for helping me be successful and keeping my doors open, so I can behere for you the next time you want to purchase from me”. In summary, the basic fundamentals for a successful businessare a good idea that the market also believes is good enough for them to payfor.  Next, the market needs to know howthey will personally benefit from your product or service.  Last and most important is that the customervotes with their wallet, and every time one votes with their open wallet atyour place of business, they validate the worth of your business idea. All you need to do then is to watch the market, listen towhat it is asking of you, and arrange your business to serve the market at aprofit to you.  These are the basicfundamentals of a successful business.