• Menu
  • Skip to right header navigation
  • Skip to primary navigation
  • Skip to secondary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Starting Up Tips: How to Start a Small Business

Tips to Starting a Small Business

  • Starting a Business
    • Home Business
  • Financing
  • Marketing
    • Online Marketing
  • Growing
  • Search
  • Starting a Business
    • Home Business
  • Financing
  • Marketing
    • Online Marketing
  • Growing
  • Search
  • Home
  • Business Quotes
  • Checklist for Starting a Business
  • Home Business
  • Contact
  • About

Develop Winning Strategies

To survive, a business needs to satisfy consumer demand. Develop winning strategies that will make customers buy and keep your business profitable.

You are here: Home / Starting a Business / Business Planning / Develop Winning Strategies
financial planning

February 11, 2011 By //  by Isabel Isidro 1 Comment

financial planning

.The key to the survival of a new business is its ability to satisfy consumer demand. The rule is simple: if they don’t buy, your business dies. It is important that you develop winning strategies that will make customers buy and keep your business profitable.




To develop winning strategies, Professor Malcolm McDonald suggests that you take the time to answer the following questions:

  • Can you list your key target markets? (in order of priority)
  • Can you describe (quantitatively and qualitatively) the value that is required by each of your key target markets?
  • Is what your company does superior in any way?
  • In each of these key target markets, can you describe how your organisation creates superior value?
  • Do the relevant senior people in your organisation understand and support the above three points?
  • Are all the relevant functions in your company organised in a way that is supportive of delivering the value required by the customer?

Monroe Porter,  in his article “Winning Strategies in a Challenging Economy” (Leaders in Landscape 2009, pp. 8-9), lists down 10 steps on how to develop winning strategies for your business:

  1. Be a leader
  2. Identify and strengthen your business shortcomings
  3. Get everyone on board
  4. Salespeople have to sell
  5. Protect your margins
  6. Focus on the core business
  7. Don’t wait too long to cut costs
  8. Don’t let anyone treat you like a bank
  9. Know which marketing tactics are most effective for your market
  10. If you do have to lay people off – again, be a leader


Similar Posts:

  • Rule for a Successful Startup: Hire the Right People
  • How to Write a Winning Business Plan
  • 80 Questions to Ask When Starting a Business
  • 40 Tips on How to Use Crowdfunding to Raise Money for Your Business
  • 50 Free or Low Cost Ways to Market Your Small Business

Filed Under: Business Planning Tagged With: Business Strategy, Business survival, Leadership and management

Checklist for Starting a Business

Are you thinking of starting a business but don’t know where and how to start? Learn the step-by-step process to starting your own small or home-based business. Buy our Kindle eBook Checklist for Starting a Business at Amazon.com today.
Previous Post: «drinking starbucks coffee Be Consistent
Next Post: Avoid Choosing a Bad Business Opportunity woman home office»

Reader Interactions

Comments

  1. Errand services los angeles

    February 15, 2011 at 12:26 pm

    Thanks for sharing these nice tips, really useful as a beginners. Keep it up Good going

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Facebook
  • Pinterest
  • RSS
  • Tumblr
  • Twitter

Email Newsletter

Get tips on starting a business.

We respect your privacy. Your information will not be shared.

Popular Posts

  • Quotes on Business Failure
  • business quotes Business Quotes
  • 5 Ways to Market Your New Business 5 Ways to Market Your New Business
  • How to Find a Gap in the Market?
  • Contact

Footer

RSS PowerHomeBiz

  • 12 Common Reasons Why People Don’t Start Their Own Businesses
  • Start-up Costs and Marketing a Nightclub Business
  • How To Get The Perfect Domain For Your Site – Even If It’s Taken
  • Make Money with Essay Writing Jobs Online

How to Sell More Online

Want to succeed online and increase the sales of your online store? Buy our Kindle eBook How to Sell More Online: 40 Tips for the Small Online Entrepreneur at Amazon.com today.
  • Sitemap
  • Contact
  • Quotes
  • About
  • Privacy Policy
  • Checklist for Starting a Business

Copyright © 2019 · StartingUpTips.com · Terms of Use and Privacy Policy