86. Know the 'wants' of your customers and do your best to provide those 'wants'.
If you do this, more customers will come to you. This is the little thing called 'customer satisfaction'.
87. Do not be content with what you already have.
If you do not make changes or improvements, your competitors will leave you behind. Always think of how you can improve your business.
88. Once your business is stable, you may want to venture into another business.
You will improve your earnings by having more successful businesses. Just make sure that you have enough time to manage more than one business.
89. Do not just hoard the earnings that you accumulate from your business.
Try investing them elsewhere to make your earnings grow. For example, it might be a good idea to make a time deposit. You may also want to venture in stock trading. But there are also risks in these ventures. Make sure that you are knowledgeable with them first.
90. Enroll on short business courses.
These will equip you with some knowledge and skills that are necessary to handle a business more professionally. You do not need to graduate. What you are after is the information and not the diploma. Also, you do not want to spend a lot of time on short courses when you should be busy managing your business.
91. As the owner of your business, you may want to delegate managers that will handle things for you.
This will help you have more time for yourself. But you should still look after your business personally. Take note that nobody will care more for your business than you do.
92. Hire competitive individuals.
Take note that your employees play a major part on the success of your business. This is why you need to make a thorough check during the hiring process. Do interviews and have them undergo exams.
93. Check other suppliers
Even though you already have a supplier, you should still check other suppliers from time to time. You never know when there is a new supplier that offers lower prices.
94. Ask for lower price
Suppliers will always try to offer you a price that is favorable to them. But keep in mind that their prices are always negotiable. Do not be afraid to ask them to lower their price especially if you have been doing business with them for a long time already.
95. Check market value
When the market value of some of your merchandise drops, you may want to stop selling them for a while. You may put them back on sale once their market value has increased again.
96. Ask your suppliers to handle the shipment cost.
You will save a lot by doing so. Do not be afraid to ask this from your supplier because it is actually customary for suppliers to handle the shipment cost. You may however encounter suppliers that will ask you to shoulder the shipment cost. In which case, you may want to look for another supplier.
97. Keep your suppliers happy and they might just give you better terms.
So how do you make your suppliers happy? First, you need to make sure that you always pay them on time. In fact, this is probably the only thing that you will to focus on. If your suppliers realize that you are prompt on making payments, they will give you more favors.
98. Keep your employees happy and they will always be encouraged to work harder for you. So how do you do this? Of course, you will need to treat them with respect. Avoid unnecessary scolding. If they made a mistake, try talking to them in private and avoid doing so in public. Also, you must provide all the basic benefits that an employer must provide to its employees. And lastly, be prompt on paying their salary.
99. Keep your customers happy and they will make you happy as well.
Happy customers keep coming back for more. Provide value and your customers will be your for life.
100. Spend more time for an R and R.
Lastly, think about yourself too. Success of a business relies entirely on how able you are. Spend time for some rest and recreation to ward off stress, and everything else that keeps you from succeeding in the business you are in right now.