Four Steps to Building a Business
by Ann Halloran
(Galway, Ireland)
Ann Halloran
I have been in business/self-employed for 20 years now as a Consultant, designing training materials, facilitating management workshops and helping companies manage learning and employee development. Here is what I have learned about building a business:
Step 1 - Find your Niche
In the beginning, I tried lots of different avenues to get work. I found that some took a lot of effort for not much return. I faced a lot of competition, which forced me to compete more on price.
Then I discovered an area where I had little competition and the business really took off.
At the time, there were a lot of trainers around, but they had poor graphic design skills. There were a lot of graphic designers around, but they had poor training skills. So I combined the two, and bingo, I had a niche market. I was making a six figure sum each year designing training materials.
Today, most people are computer literate, but the point is that I found a niche at that time.
Step 2 Keep up to date with What's New
Another strategy that really helped me was to stay ahead of the posse. I kept my eye on new developments in technology. In today's terms, that might mean harnessing the benefit of Twitter and other social networking sites.
Step 3 Look After Your Customers
If a customer needed something in a hurry, I would work the weekend to get it done. It didn't happen often but it was a great opportunity for me to gain a few loyalty points.
I also refused a contract if I felt that there was an alternative solution that made more sense for the client. I put their best interests before mine.
Over the years I focused on building long term relationships with existing clients, rather than trying to find new ones, and it made life much easier.
Step 4 Stay Positive
I always had work for "the next few months" and I didn't waste time worrying over what would happen in the next year. It is important to have a long term focus, but I found that concentrating on what I had to do today or next week stopped me from getting anxious over work.
And anyway, its exciting not knowing what is round the corner - you might meet lots of interesting people, travel to exotic locations or make lots of money!
So the best of luck with your business. Once you are passionate about what you want to do and where you want to go, you will get there!
Best wishes
Ann
http://www.practical-management-skills.com
