“Thinking about small startup! Many things might be in your mind”
Business is like mathematics where we have to give a concentration in every step.
Profit and loss are two general characteristics of trade. It is not possible to see only the face of profit or loss throughout the business. If today we are happy with good returns from business than there will be a possibility of loss also in future. But if we follow some rules in business the chance of risk could be minimized.
How to maintain small business or a small retail outlet
1* Every transaction or business affair needs strong dedication and seriousness, without which nothing is possible.
2* Maintain a proper timetable for business. Punctuality and discipline are behind every success story.
3* Too much dependency on the employee is bad. We must contribute from our site to get success in business.
4* Books of accounts and inventory should be maintained every day. Verify physical stock position on weekends or if possible daily.
5* Maintain a proper pricing policy; don’t make unnecessary changes in it. Indulge in cut-through competition by changing pricing policy may harm in long run.
6* We should be aware of our investment capability. To give high food step in one jump might be the cause of fall in a business. One must be well calculated about his or her investment potentiality.
There are no hard and fast rules to follow these are the very simple and natural things which we should follow to get success in business. If we can maintain these basics rules properly we must be benefited.