How to make a successful company?

[Himon2413]

A good idea is not enough, says Emerson Sifuentes, professor of Administration at the UPC.


Contrary to what one might think, having a successful business does not depend on a good idea or financing.
Emerson Sifuentes, professor of Administration and International Business at the University of Applied Sciences (UPC), gives five recommendations to achieve this:
1. Be a leader. The qualities that a future entrepreneur must have include commitment, perseverance, leadership and self-confidence. He or she must also bahrain number screening be good at planning and looking for new opportunities.
2. Plan. Create a business plan detailing the steps you will take to consolidate your company. "It's the road map," says Sifuentes.
Include the development of your business model: how you will select and differentiate your customers, go to market, make profits and generate revenue.
3. Research the market. Make sure to consult the appropriate databases, says the UPC expert. This task consists of analyzing and determining potential niches, information about the environment, the target audience and the size of the market.
4. Social media? If properly managed, it can be very effective when promoting a product or service, but consider whether you really need Facebook or Twitter.
Remember to keep an eye on public comments, both for orders and complaints. Otherwise you could lose a customer.
5. Take care of your image. The best presentation of your company is you, so protect your image. Create a personal website or join Linkedin. And when you meet with third parties, do not spend more than eight minutes to present your business.