By Rajiv Varma
Starting a business is easy - Making it profitable will require hard work. It also requires choosing bold, but wise, strategies. Pay attention to your competition and constantly provide superior products and services.
Build your marketing plan and prepare for growth.
Starting a business is relatively easy but making it profitable and sustaining that profitability is very hard. You must constantly assess the challenges presented by your competitors and prepare for fighting back. You must re-invest some of the profits back into your business for marketing. You should maintain a living and breathing document for growth strategies and come up with new and creative ways to attract customers.
Sustain your business
Starting a business is like giving birth to a baby: the business cannot sustain itself even for one-day if you don't nourish it or take care of it. It requires a lot of effort just get it started - and then there will be many uphill battles while your business continues to loose money. There may be discouraging remarks from friends and family but you must keep going and pay no attention to those. Go back to the reasons why you started the business. Eventually, the baby will grow up and will be profitable and then it will keep giving you back again and again.