This is one
major rule in business. Your focus should not just be profit but the
satisfaction of your customers. When you realise your customers are the sustainers
of your business, it helps you to shift attention from profit to them.
If consumers
continue to get the worth of their money, they will keep coming. You may not
last in business if you are profit oriented because you may be tempted to cut
corners. Also, there are many people out there who will want to dupe you
because you are a business person, the earlier you combat greed; the more
logical you will be at those moments. Don’t dive into any business you don’t
have full understanding of and another rule in business is to trust no man. We all
have our portion of greed, however, in business greed should not even be heard
of. Be sincere to yourself, to your workers, consumer as well as all
stakeholders. Don’t look for quick wealth, for in this quest have some men
become bankrupt. Don’t do business for quick profit instead for meeting of
need. Another aspect of this greed is where you need to save yourself from fraudsters
who bring up opportunities that never exist. When you get your greed under
check, you will be reasonable which is one thing greed takes from us. You will
be able to analyse and scrutinize every business opportunity that comes your
way and allow you invest properly. The earlier you put your greed under check,
the longer you sustain your finances.
Other thoughts on entrepreneurship It is relevant that an entrepreneur should have a written business plan before registering with the Corporate Affairs Commission (CAC). The business plan should include the nature of the business, the sales and marketing strategies as well as the financial background and profit statement. However, emphasis should be on what makes your business different from other available ones.
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