Realism in your projections will help to obtain financing. The leader who can identify an idealistic and a fatalistic perspective, and see it in detail, is closer to receiving ideal support. Numbers matter on factors like cost to get customers, marketing, and staff. Some say that everything costs at least twice what was originally planned, and potential investors know that.
Serious organizations are the ones that get serious investors. And many times it does not happen the first time: in fact, after a score of refusals, it may be time to review the business concept. The search for investors often benefits the attractiveness of a business.
In the magic formula for business success, we know the essential ingredient: the customer. If you focus on the customer, you have a chance of winning. The triumph is not about obsessing ourselves with a great product or service, but with the client, who will be the one who buys.
In sales, we talk about love: Find a way to love your customers more and better. To the point that they become loyal and even fanatical about what you do.
They are the great forgotten element of success of a company: the suppliers. Clients tend to cover them up. That is why it is important to manage that part of the organization well.
Larger companies take advantage of winning inertia to find good suppliers. Small and medium-sized companies must insist on the trump card of loyalty.
The choice is a matter of successes and mistakes. Fundamental: abundant criteria, origin, margin and time. It is essential to assess the quality of the service or the product, the conditions (price, volume, logistics, reliability). After-sales is crucial. And the reputation.
It is important to understand the social and political environment of the place where they are located, and not just the economic situation. Because it will allow them to anticipate risks and take advantage of opportunities, especially in times of high uncertainty.