Fri, Mar 31, 2017 | updated 04:13 AM IST

Top 10 tips to begin and develop a business

Updated: Oct 29, 2016 12:25 IST

New Delhi [India], Oct. 29 (ANI): Worthy results in your Small Business setup don't always have to be the result of a load of hard work. You can get some great results by doing little things that barely take much time.

Anurag Avula, the CEO of Shopmatic has brought ten top tips on how to start a successful business online.

Firstly, think of selling a product/service that people really want.

This may seem obvious but being doubly sure that you're creating a unique product that people actually need will make or break your business.

The easiest way to do this is through research. Speaking with friends and family, sending out a survey, or even just looking up whats available and not available online, are all very effective ways of getting feedback on what you are wanting to sell.

Secondly, be confident about your idea.

There might be thousands of small businesses existing but this does not take away from the uniqueness of your business.

What really matters is understanding your business model, as very limited people have the drive and motivation needed to bring their ideas to life.

Thirdly, execution is the key.

Action is what brings out results. Time spent on writing plans is one thing- but execution is what will make the difference! Do ensure you have enough time to follow through with all your ideas.

Fourthly, overnight success is over-rated.

If you think you will be successful overnight, you are more than likely to get frustrated. Success in business depends on your ability to accept losses and shortcomings, and to move on and learn from them. Take the hits on the chin, and move on! Agility and persistence will eventually, help you win!

Fifthly, design an exclusive website and e-commerce storefront.

It is now simple to create a user-friendly website for your venture. You don't need to be an engineering mastermind or dependent on freelancers to design an attractive website or online store to attract your customers. Another essential step should be to optimize your site for mobile access, add SEO tags that will boost your search ranking and help grow your business faster.

Sixthly, don't try to be the sole go-to person for everything.

Finding balance is one of the most essential qualities you need to hold on to. There will be a lot to do- and being the only go-to person, for everything, is foolhardy in the long run. Entrepreneurs need to learn how to hand out responsibility and have faith in their team, to be able to deliver, in the long run.

Seventhly, keep the business and customers in sync.

Be consistent and constantly in touch with your customers. They are the reason for you to exist.

Find a way to constantly communicate your brand values to them, so they stay engaged and feel vindicated for selecting your product/ service.

Eighthly, getting help is good.

While starting a business on your own is fine, you will feel the need to carry stakeholders along with you. business isn't something that you should do alone. Investors will only bat for teams that they think will deliver the most innovative solutions in the long run!

Ninth, attract and retain talent.

The fundamental rule for success, is to hire the best people and trust them to do the best work. Particularly at the beginning, when money is constricted and your company might lack reputation, you can't afford to make hiring mistakes.

Finally, stay positive.

Things can sometimes look like they are falling apart. But, you need to remain positive, no matter what! When positivity kicks in there is nothing that can stop the cash flow! (ANI)

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