For start up businesses, we should direct more Telephone Number List effort towards short-term goals since new business ventures must always pass through a time of research and development Telephone Number List before their long-term profitability can be predicted accurately.
A businesses short-term goal Telephone Number List should be between 6 to 12 months, while its long-term goals can be for a period of 2 to 5 years. * Create a niche for the Business Small and medium enterprises tend to copy each other and provide the same services offered by existing businesses. This has the effect of overcrowding the market and is the number Telephone Number List one major reason why new ventures find it hard to survive. For emerging MSMEs to guarantee their survival, we have to develop policies capable of helping our entrepreneurs Telephone Number List create a niche for themselves by offering products and services that are unique and that enable them to take advantage of the market.
Studies done indicate that most Telephone Number List businesses get 80 % of their sales from just 20 % of their clients. By clear identification of the target market, we can be able to direct most of their energy and time to customers who are important. Though most of our entrepreneurs set up their own businesses from scratch, those who find it hard to build their Telephone Number List own businesses can opt to buy already existing ones.