Can we make certain steps that must be undertaken to make business successful? I think that there cannot be some template designed from simple steps that will lead our business to success. However, on the other hand, there is not a magic wand that can make the success. Business success depends on us.
If the success of our business depends on us, then we must take some action steps that will lead us to that success.
I want to share 50 possible steps to business success collected through my experience and experience of other successful entrepreneurs. For some entrepreneurs 30 steps will be enough for others all 50 will not be enough.
Step 1: Develop more than one business idea.
Step 2: Analyze all business ideas.
Step 3: Make initial market research.
Step 4: Include conclusions from initial market research in analyses of business ideas.
Step 5: Select the best business idea to start.
Step 6: Develop a clear vision.
Step 7: Analyze your performances.
Step 8: Make needed adjustments.
Step 9: Find your risk tolerance.
Step 10: Develop your personal goals.
Step 11: Make initial business goals depend upon your personal goals.
Step 12: Check whether the goals are tangible and measurable.
Step 13: Remove all intangible and immeasurable goals or make them to be tangible and measurable.
Step 14: Make a commitment to all your tangible and measurable goals.
Step 15: Break initial overall goals into needed action steps.
Step 16: Make a startup business plan.
Step 17: Choose the best business model.
Step 18: Define your business mission.
Step 19: Define the core business systems.
Step 20: Define the resources for all business systems.
Step 21: Verify that all preparations are ready to start.
Step 22: Identify all competences that are needed to achieve the goals.
Step 23: Hire according to identified competences.
Step 24: Always reward yourself and your employees for each goal achievement.
Step 25: Identify all possible sources of changes.
Step 26: Implement a system to follow that sources of changes.
Step 27: Define potential sources of resistance to changes.
Step 28: Find ways how to eliminate that sources of resistance to changes.
Step 29: Implement needed changes.
Step 30: Measure implementation of changes.
Step 31: Make changes to be part of your business culture.
Step 32: Identify all major competitors.
Step 33: Analyze advantages of your competitors.
Step 34: Study all action steps of that competitors.
Step 35: Implement and improve the most valuable action steps from your competitors.
Step 36: Identify your crucial business customers.
Step 37: Make customer segmentation.
Step 38: Reward the most important customers.
Step 39: Assess customer satisfaction.
Step 40: Reject all elements that cause customer dissatisfaction.
Step 41: Make financial forecasting
Step 42: Compare the actual financial situation with forecasted.
Step 43: Identify potential expenditures to eliminate.
Step 44: Make cash flow analysis.
Step 45: Improve your cash balance.
Step 46: Make ABC analysis of the products.
Step 47: Eliminate poor income or poor profit products.
Step 48: Define the most important social media platforms and open accounts.
Step 49: Start your business blog.
Step 50: Interact with current and potential customers online.