Business, Profits and Sales
The sole aim of a business organisation both small and large scale business is to make profits and generate more sales, every businesses strives to make sure their businesses is making profits. The vision and goal of a business is beyond being a problem solver, which people or buyers value or being a provider of scarce resources to satisfy human unlimited wants, though businesses should be able to do these two, but the sole and major aim of any businesses is to make profits through the goods they produce and provide or for the services they render to people. Business creation is primarily making profits, because the profits are what keeps the business going, they maintain the business, they sustain it, the profits also makes the owner happy because his or her goods and services are valuable and then more profits.
Business organisation is an enterprise set up by an individual or group of individuals, government or its agencies for the main purpose of making profit and provide goods and services for the satisfaction of human wants. All business organisations, be it small or large irrespective of the ownership and structure, have one thing in common - the provision of goods and services to meet the numerous needs of people. One thing is certain, provision of goods and services are provided to meet the numerous needs of people, human beings are known to have numerous wants and needs, but the resources available to satisfy them are limited, so some people engage in provision of goods and services in order to satisfy these numerous human wants and needs, then Business organization is set-up.
Business organization can be small or large, irrespective of the scale the sole aim and main purpose of both is making profits through the provision of goods and services, it all boils down to the resources available - the capital and personnel. In the grand scheme of things, a large scale business is expected to strive better than a small scale business because of the availability of resources both the financial, human, material and so many other resources. For instance, A large scale business and a small scale business that engages in the production of the same goods and services, it's expected of the large scale business to make more profits than the small scale and even affect the sales of the small scale. Making profits and generating more sales to a business is beyond the availability of Capital and the personnels, though the two is key in creation of any businesses, but there are some strategies that have to be put in place in businesses to increase the sales and profits of any business organization. A well strategized business irrespective of the scale will make profits in respect to its available resources.
Strategies to implement in a business in making profits:
1. Prepare A Strategic Plan: A business organization going on a path of success must be well organized, to achieve a business success you need to be well organized and planned and not just an ordinary plan but with a strategic plan. Business takes time to develop, hence a need to create a strategy bound with time. Each year needs to define how a business will grow over the years. A Strategic plan must be constantly reviewed to know if the results produced match your set goals.
2. Analyze Your Competition; A large scale and small scale businesses will have to face a competition from other business organisations that engages in the same provision of goods and services. As a business entity, you should not be scared of facing competitions from outsiders because human beings have alternatives in goods they purchase and services they receive. Analyzing your competitors is an assessment of the strengths and weaknesses of current and potential competitors, and the information can be used to improve your business planning and practices. Competition breeds the best results, Market your business.
3. Positive Relations With Your Employees and Customers: There should be a positive relationship between a business owner and his or her employees to allow free flow of information that can spur the business organization in achieving greater feat. Provision of better service for your customers and having positive relationship with them will make them more inclined to come to you next time they need your goods or services instead of looking for alternatives.
4. Be Consistent: Consistency is a key component in making profits in business. You have to keep doing what is necessary to be successful day in and day out. You should be ready to make sacrifice of time, energy, effort, consistency, hard-work. Since business take time to develop, make consistency your positive habit that will help you make profits in the long run. A wise man once said " Rome wasn't built in a day ". Stay Focused.
5. Get Updated: The world is evolving, as technology advances , most of the things we do now are technology-driven, most especially businesses. To make business survive you must be aware of the importance of technology and media. As a business organization, you must be flexible to adapt to new things. The fact is that change is evitable, and the world is changing, if you insist on using archaic methods or strategies to achieve new feats, you might get stuck in business transactions. A business owner must be aware of trends, because these trends can be a boost to the business profits.
Be a problem solver
Be a solution giver
