Archive for April, 2009

How to start your own profitable business

Do you want a sure-fire way of creating an ongoing, profitable business?

Conventional wisdom, taught in business classes and business schools, is to create your product or service first then look for the target market you can sell it to.

At Business School doing my MBA I was taught “Find a need and fill it”. The idea is that if you can identify that customers have a particular need, you can satisfy their need and charge them for it.

So most business owners set out with an idea, create their product or service then start looking for customers to sell it to.

Get More Business Through Referrals

Referral systems are probably one of the most important things you can implement in your business. It’s an easy way to double your business by just getting all your customers to refer just one person to you. That doubles your business. Word-of-mouth marketing is one of the cheapest things you can achieve in your business.

Is this really difficult? You might think it’s impossible because perhaps you rarely get referrals now. That’s what you know about. You might be getting referrals and not be aware of them or tracking them. It’s not difficult. You should aim all of your efforts at getting referrals because they’re usually better customers.