Life Isn't Hard...
Business isn't for everyone and if a business is for you, at least do it right. Everyone wants to be called a CEO because it adds a little prestige to their names but at least know if it's for you or not. So many people have ventured into doing business and they ran deeper into depression. Doing business takes a lot of mental strength because it's not for the faint-hearted.
Everyone wants to go into business without understanding what business entails. It's not even about putting the funds together or getting the grants to start it. For so many people, it's the special feeling of telling others that they are the owner of the business that thrills them. Once the motive is wrong from the start it would always be hard to keep up with it and get the best from that business.
Starting a business with the sole purpose of making money alone would wreck you. Of course, I know that every business is expected to make money but you don't go into business with the sole purpose of making money without understanding the market or seeking ways how to satisfy your customers. We have seen that with a lot of NFTs going around that the quality of the designs is nothing to write home about. They have no clear plans and they are just in it to make money. Such a project would always stall and it's the sad reality we have to face.
Customer satisfaction should be at the forefront of any business because how satisfied your customers are would determine the success, growth or expansion of your business. I shared about the hotel heartbreak story I had when I went to my childhood friend's wedding. You can read that post here: Heartbreak Hotel. A lot of people said I should have named it "Nightmare Hotel" instead. That hotel is a perfect example of people who just want to make money without giving customers any positive experience.
If you don't spend money on your business you cannot make money. If you don't plan adequately you can never succeed in business. Business isn't just what you go into because you have money for it. It takes feasibility studies, understanding the market, packaging and seeing your audience. Who are you targeting? Is your product or service for the young, the adult, the elderly or the rich? You have to be clear from the get-go. Any business that doesn't care about the customer experience can never thrive. Customers are not dumb, they know what they want and the moment they are put off, it would take a lot to have them back in your corner.
Customers would always say their minds just to get a better service experience. They are to get more value for the money they are giving away, so building with them in mind is the way to grow your business. There is no point in staying in the business that keeps chasing your customers away. Customers move around and they see other products or services too, so there is a certain expectation based on the experience they have enjoyed before now. The only way to win them is to either give them the same experience at a cheaper price or give them a better experience at a higher price. Anyone would gladly pay more as long as they know they would get value for it.
Another issue I noticed is this and it's for those who know that business is for them. They leave what's working for them to try their hands in other businesses which they end up losing money over. You already found what's working for you, you have started and built it up and because you feel other businesses are making money, you shut down what's working for you to go into what you have never tried before.
You have painstakingly gone through several processes to grow your business and you decided to abandon what's working for you to move into another phase of business. I am not against those who want to expand or add another line of business but I am against those who choose to close down what's working for them to start chasing after uncertainty out of greed. You can grow both businesses if you have the capacity for it and if you can't grow both at once, it's a sign that you haven't gotten the capacity to deal with both at the same time. Doing business calls for patience but most people would rather leave what's working for them to start chasing the wind.
Not everyone is business savvy. For some, they thrive better when they work for others while some make waves when they invest in other people's businesses rather than running one. The deal is simple, if you can't run a business, invest in one. If you have a business working for you, don't leave it, rather seek ways to expand but first, know whether you have the capacity to run both businesses together and if you can't invest or run a business, just stick to what you know how to do best, something you are good at that can make a difference for you. Life isn't hard at all...
Thank you for your time.
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Most don't realize that most businesses do not even break even until roughly the two year mark, depending on the business, and your post is making extremely astute observations @olasquare! And you have that correct about pleasing the customers as the very first priority, if that does not come first, it's only a matter of time. But I have also noticed that a lot of the big corporations and companies start out and will bend over backwards for their customers, but after they get large, customer satisfaction takes a back seat. There are certain social sites that are extremely guilty of doing this, and may be shooting themselves in the foot, we will see here fairly shortly. This post was obtained through Dreemport.