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ESSENTIALS FOR SUCCESS IN
SMALL BUSINESS

Necessary ingredients for success in small business

  • Create and build the business on real market opportunities.

  • Identify or create some distintictive competence.

  • Realise competitors.

  • Continually work or create and improve the firmís image.

  • Be the best not the biggest.

  • Create opportunities.

  • Build on strengths.

  • Recognise the difference between efficiency / effectiveness.

  • Be innovative.

  • Seek and use expert advice.

  • Recognise type of risk.

  • Avoid being over dependent on others.

  • Get rid of unprofitable products / service.

  • Manage resources efficiently / effectively.

  • Realise that business / management decisions may affect survival ability.

  • Use time efficiently / effectively.

  • Regard cash flow as life blood and maintain strong liquidity.

  • Keep good records.

  • Hire the right people.

  • Continually update product knowledge.

  • Regularly review firmís location.

  • Learn from errors.

  • Watch signs of mental stress.

  • Be decisive / assertive.

  • Believe in yourself and your business.

If you are looking a getting into business or are already in business, Tony Taktak & Associates can show how to build wealth, through long - term investments.

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