How do you make sure your business doesn’t suck? Although we all have our own individual definitions of what is success and what is failure, there are some standard indications that can clearly tell you you aren’t doing as well as you may like. You can keep living in your own imaginary world and think that you’re running one of the greatest businesses ever to grace humanity (until you run out of cash) or you can use some time-tested methods to find out how your business is doing.
The first indicator is profit. Your business sucks if you are not making profits. Now, things are different if you are running a non-profit organization providing food to hungry children in Africa (and we at HowToPlaza wish there were more people like you in the world, sincerely), but if you are not, then you need to earn money; without that it’s simply not feasible to run your business.
Another thing that shows that you suck at doing business if you don’t interact with your customers and clients. In the times of social media and networking, this is almost suicidal (in the business sense, not biological sense). When you talk to your customers and clients you get an idea of what they want and what problems they face when they do business with you.
Do you think you are a well-known brand or name? You are not if people are not talking about you. To make people talk about you you need to create buzz using online and offline tool. You can sponsor events. You can engage people on social media and networking websites and you can promote your products and services using different mediums.
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