The tried-and-tested formula of making money
Rich people do not acquire wealth due to an accidental accident, a game of luck or just a high intelligence, but by successful business strategy, systematic use of time, changes in their own self and lifestyle under some important principles.
We are going to inform you of the same principles that big businessmen passed on confidentially to their generations after years of experience. The whole process is divided into three phases.
Change in self
Keep in mind that if you want to be a successful businessman, then in the first step you have to focus on yourself. Some important changes have to be made in ourselves, we have to awaken the hidden abilities within you. The comfort zone (the habit of ease or laziness) has to be left. Business acumen, the ability to accurately estimate profits and losses, market rules, how to build business transactions and relationships, how to deal with a customer that he comes to you again and again for a purchase.
Good reputation of a businessman is the first condition for new business deals. For this, you have to adopt the habit of honesty in transactions and good morals in your behavior. Prioritizing customer ease rather than yourself and prioritizing business by giving up your rest or meal time are essential steps that must be taken by self-centeredness.
Product Selection
The second step of business after changing yourself is to choose the products or products that you have to do business with. First of all, look at which product has the highest demand or demand in the market. Its profits are high and easy to avail. Choose the appropriate location or location for the product where it is easy to sell. What is its value, what is the ratio of profit? How to advertise or market it. In the second step, you have to do all this research. After this initial knowledge, when you enter the market, you will be able to perform better due to more skill than other people.
Practical Steps of Business
The most important and final step to becoming a successful businessman is to know the method of business. In the first two phases, we were limited to planning, but now we will take practical steps.
The product or product you have selected is to go to a store or shop in the market and get practical experience of them. This is a difficult but very important process for you before starting your business. It is only at a running store that you will know which is the actual business plan that is going to be successful. You'll see customers what products they're most interested in, what are the actual buying trends, what forces the customer to buy, need or convenience.
The quality of the product, its origin and the origin you should recognize in every situation. If there are 10 copies (copies) of the original product in the market, then you should recognize 10 copies of 10. If you copy the customer as the original product and he somehow finds out that you have given him a fake thing, then his confidence will be hurt and he will hardly come to you again. So this mistake is a mistake.
Business Wheel
On this occasion, we introduce you to the business wheel which will create in you the ability to make profits first up to millions and then billions of rupees. You have to continue your business research like walking in this circle and continue the process of research and more experience until you have fully mastered all three factors, 1- yourself, 2- product and 3- business methodology. As soon as you feel that you have become an expert in all three factors, i.e. full knowledge of the product, have transformed yourself into a professional businessman and most importantly, you have fully understood the procedure of business, then you have to take the way out of this circle. In this business wheel, the more your rounds are, meaning the more your business experience, then you will continue to increase the ability to make more profits, which will lead you to profits of millions and billions of rupees on completing thousands, then millions and more cycles in the initial cycles.
It is very important that in this stage of business methodology, you have to strengthen the network of business relationships, that is, you have made excellent relationships with other traders, investors and suppliers, also try that some traders or fellow shopkeepers want to partner with you considering your business skills, ability to develop the business because there is a good opportunity in the business and If a trustworthy person does not lose anyone, then you become both a good opportunity and a trustworthy person for them and start a new business and become a source of more profit for them. You have already gained the trust of customers, so you must have formed a chain of customers. Customer chain means that one customer will bring another and another inspired by your honesty and bring a third customer and this series goes on, so one customer will continue to connect the next customer with him and thus the customer chain will become a customer chain for you.
Earlier there was a job, leave it and now you start a business on a partnership or partnership basis. Business advice is to do two parts of your income during a partnership business, one is expenses and the other part is your new personal business, start raising money for it.
As soon as the money is collected, now you start your own business. Yes, now your dream is going to be fulfilled for which you have worked all the hard work of the previous steps. Now build your own store or shop, if you want, continue the business of the previous partnership, remain an inactive partner there, but now devote all your time to the new business, which is your personal business. Use all your skills acquired from the business wheel and develop the business well. Since you have not used any shortcut or fake prescription to become rich overnight, have taken the right and practical path, now success will kiss your feet and now other people will come to learn business from you while watching your progress.
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