Before thinking of approaching the bank for loan, can your business be trusted. Will it survive? there are many reasons why banks are afraid of new establishment.

However, some of the things to take note in the running of your business



1. Get Organized
To be successful in business you need to be organized. Organization will help you complete tasks and stay on top of things to be done.
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A good way to do this is to create a to-do list each day. As you complete each item, check it off your list.
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This will ensure that you're not forgetting anything and you're completing all the tasks that are essential to the survival of your business.
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2. Keep Detailed Records
All successful businesses keep detailed records . By keeping detailed records, you'll know where the business stands financially and what potential challenges you could be facing.
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Just knowing this gives you time to create strategies to overcome those challenges.
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3. Analyze Your Competition
Competition breeds the best results. To be successful, you can't be afraid to study and learn from your competitors.
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After all, they may be doing something right that you can implement in your business to make more money. (For related reading, see: How do I determine my company's competitive advantage? )
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4. Understand the Risks and Rewards
The key to being successful is taking calculated
risks to help your business grow. A good question to ask is "What's the downside?" If you can answer this question, then you know what the worst-case scenario is.
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This knowledge will allow you to take the kinds of calculated risks that can generate tremendous rewards.


5. Be Creative
Always be looking for ways to improve your business and to make it stand out from the competition. Recognize that you don't know everything and be open to new ideas and new approaches to your business.
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6. Stay Focused
The old saying, "Rome was not built in a day," applies here. Just because you open a business doesn't mean you're going to immediately start making money. It takes time to let people know who you are, so stay focused on achieving your short-term goals.
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7. Provide Great Service
There are many successful businesses that forget that providing great customer service is important. If you provide better service for your customers, they'll be more inclined to come to you the next time they need something instead of going to your competition.

You Can Read More about How to Start business or Improve your Existing Venture
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