PHOENIX, ARIZONA / ACCESSWIRE / September 22, 2022 / Elijah Norton is a man on a mission. For over a decade, the Missouri native nurtured Veritas Global Protection and other successful ventures that pump millions of dollars into the local economy.
The experience taught him valuable lessons in entrepreneurship, and he is eager to share them with emerging business leaders.
Know Your Market
Knowledge is power. You need to understand your market to sell your products. Get statistics on your target demographics and competitors and consider future growth and obstacles.
Elijah Norton advices new entrepreneurs to make better decisions and achieve goals and tweak their 4Ps accordingly: product, promotion, price, and place.
Make a Business Plan
If you fail, you plan to fail. You must create a business plan to clarify intentions, establish direction, and develop a strategy. A written document makes it easier to recall details and holds you accountable. Give access to stakeholders to encourage discussion.
Assemble a Winning Team
A business is only as good as the people who run it. Hire the best talents you can find. If funds are low, focus on getting just one or two outstanding individuals and build gradually. If unsatisfied with the applicants, delay hiring new people until you find the right fit.
Organize Your Team
In sports, every player has a specific role in a team, yet they work together to achieve a common goal. The same concept applies in business. Elijah Norton advices his team to assign a role for every team member based on their strengths and business requirements.
Deploy Powerful Tools
The right tools will help you perform tasks better and faster than before. Check out the wide range of mobile apps, software services, and other digital solutions for business. Look for value, scalability, and efficiency. Specialized tools are often better than all-in-one solutions.
Set Financial Targets
You cannot inject money indefinitely. At some point, the business must become profitable to sustain itself and avert closure. Set realistic timebound financial targets that consider both expected revenues and expenses. You may need to adjust prices and cut costs to meet the targets.
Offer Better Service
Do not ignore customer service. Treat customers well, and they will repay you with loyalty. Treat them poorly, and they will never buy from you again.
They might even write bad reviews that ruin your reputation. Undersell and over-deliver to amass followers.
Perseverance is Crucial
Results won't come overnight. Be patient as you go through ups and downs. Learn from each mistake to get better with time.
Make obstacles your stepping stones to success. They will hone your mental toughness and prepare you for bigger things ahead.
With its CEO Elijah Norton Veritas Global Protection went from a 2-person startup to a 50-person company that generates over $50 million in annual revenues.
It was not a stroke of luck. It was years of diligent work and unwavering commitment. Elijah Norton firmly believes that others can replicate his success. Follow his tips to get on the right path.
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SOURCE: Todays News Media