Dealing with all these different types of small businesses, I’ve learned certain realities always apply. I call these “Rhonda’s Rules.” These rules are keys to small business success. Ignore these rules at your peril: I’ve seen many new entrepreneurs fail because they ignored one or more of these business basics.
Here are 10 of the most important “Rhonda’s Rules” for small business success:
- Go small to grow big
- Take care of your bread-and-butter business
- “Make sure the dog will eat the dog food.” …no matter how good your ideas appear to be, you have to make certain you’ve got a product or service that customers really want.
- You can’t reach a goal you haven’t set
- Clearly define your target market.
- Build one business at a time.
- It’s easier to get a piece of an existing market than to create a new one.
- Things take longer and cost more than planned
- People don’t read
- People do business with other people.
Read More: Strategies: 10 rules for small business success [USA Today]
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