5 Steps to Start a Successful Business
5 Steps to Start a Successful Business – You have a great idea and a dream of becoming a successful business in just a few years? Well, Susan Feldman and Alison Pincus, founder of the exclusive interior sales site, One Kings Lane, all living proof it’s possible. In just three years, this dynamic duo to build a company with revenues estimated 200 million U.S. dollars. Here’s the secret of success to start their business.
Step 1: Look for opportunities
When you wish to start a business, start by asking yourself: what is missing? “Said Susan Feldman, a former Merchandising Executive, One Kings Lane is. Currently Susan started a business to see that despite the existing hardware store in Los Angeles, he found that experiences online shopping frustrating. From there the idea of One Kings Lane created.
Step 2: Know your target buyer
The second question that must arise: who my customers are and what they need? Once you are able to identify who your customers are, you can select the new goods or services that can meet their needs. Alison and Susan knew from the beginning, that their customers are women with high taste. From there, they were able to not only create an attractive website design but also provide the right goods at the same time an enjoyable shopping experience.
Step 3: Follow your instincts
Susan and Alison insists the next step is you have to be absolutely sure that the effort you are entering. Susan recalled that One Kings Lane was founded in the middle of the recession that occurred in the United States. A future that is far from ideal for launching an online shopping site! Even so, Susan and Alison felt confident and decided to keep moving forward.
Step 4: Be the first
Alison and Susan both agreed to be the first in the market is the key to their success. They apply the advice given by their husbands, that first appeared on the market are often successful, the second and third are usually only survive, but the rest of the company to fight it out in the market for a profit grab. If you have a great idea, especially that has not been done before, make sure that you are working hard to launch as soon as possible.
Step 5: Look for a partner that accord
In conducting its business, Alison and Susan worked hard with long hours, especially in the early days of their business. However, because they both work driven by a passion to succeed each other so never arise envy or feeling to work harder than others. As the business grows, they make sure that all the people they hire are equally motivated. “It is important to employ people full of passion, inspiration and smart,” said Susan. Never forget that the strong players build a strong brand.