When is it the right time to start a business?

Starting a business is just like starting a relationship; the best time to do so is when you have sufficient time to devote to it.

It is possible to start a part-time business when you are still working at a job, in fact sometimes the bankers prefer this!  People have different energy levels and abilities, but you will give yourself the best chance of succeeding if you are fully committed to the endeavor.

It is not the right time to start a business if you are already experiencing turmoil or stress in your life.  If your personal life is in flux (new marriage, new baby, in the middle of a divorce) or if you have other demands on your time and attention (family health issues) it is smart to put off starting your business until your life is more in control.

The perfect time to start a business is not related to age; many successful owners are very young while others are mature and experienced.  It is really a matter of where you are in your life and whether you are ready for the challenge.

Think you are ready to start a business but wondering whether you have what it takes?  Take the quiz on the attached link to see!

http://sbinfocanada.about.com/library/startbusinessquiz/blquestion1.htm

Why Do Your Customers Keep Coming Back?

Why do your customers come to you for the first time and why do they keep coming back? Understanding that basic question is crucial to the continued growth and success of your business. The question is first asked when you are initially planning your business to help you create your focus and determine your branding and marketing strategy. Understanding what sets you apart from your competitors is what enables you to target your first clients.

This question needs to be asked continually throughout the life of your business. Once those first several customers are hooked, you need to ask them what brought them to your business and what is important to them so that you are sure that you are focused on the right things. Listening and adjusting to this answer is what leads to return customers and bountiful customer referrals. Once you know this answer, then you can integrate it into your sales pitch to ensure that you continue to attract new business.

It is also critical in other areas of business management as well. I am working with a client at the moment on restructuring their incentive pay system. While attempting to design a pay incentive program which accomplishes the operational objectives that we are striving for, we also need to keep the customer service question at the top of mind. We can't have people control costs at the expense of not providing to customers that very thing that is most important to them so we need to incorporate that into the incentive program as well.

Why do your customers come to you for the first time and why do they keep coming back? Understand this and you will thrive!