In any type of business, be it small or large scale business your aim is to make profit and there are lot of things you have to put at the back of your mind if you don’t want to go bankrupt or decline soon.
1. YOUR SOURCE OF FUND:- In all business organization the way you get your fund or your startup revenue is very important. There are different ways in sourcing for fund to start a business.
a)loan from bank
b) loan from friends and families
c) working to get your fund.
Our main concentration here will be on loan from bank. Be it long or short term loan, so far the profit you will pay for the loan is more than the gain you will get from your business it’s advisable you back off such business and follow the second and the best which is the third way of sourcing for fund which has no regret.
2. THE WAY YOU RUN YOUR BUSINESS:- You need to caution yourself with the way you run your business. The final result of your business is aim and objective. Note.. Your Business is a separate entity”IT IS DIFFERENT FROM YOUR FAMILY, FRIENDS AND POCKET”.When you pick this today, that tomorrow in no time you will pick it all.
3. HOW YOU SPEND YOUR PROFIT:- The most advisable way to run a business is to develop your business as your customers develop too. Packaging , upgrading and improvement makes a business grows faster. The more you spend on your business the more customers you get, the more customers you get the more profit you gain and the more profit you gain the more richer you become.