A business consultant and the owner of HB Business Consulting Services & Solutions, Nita Charlton-Gomes assists clients in diverse business areas, including marketing coordination. Additionally, Nita Charlton-Gomes harbors an interest is business startups.
Those interested in starting a business may want to consider the following pointers.
When you are brainstorming what to offer as a product or service, think about what your customers will want to buy, rather than what you want to sell. For example, if you were going to sell clothing, keep in mind what is already out there, do research, and find what people really enjoy buying. Don't just sell what you assume others will like based on your personal tastes.
Aside from brainstorming product or service ideas, ensuring that you have cash flow is highly important, as it's the lifeline of your business. One way you can increase cash flow is to ask for deposits on your products or services up front and then charge the balance upon delivery. The important thing is to make sure that there is a small gap, or no gap at all, between your out-of-pocket expenses for your products or services and the time when you receive final payment from your customers.
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