Below are stories in the SendtoNews archives that indicate Small Business as their primary category:
Starting a small business offers a lot of potential. After all, you can be your own boss, work your own hours, and make unlimited income.
But most small businesses fail.
Businesses that succeed are the exception, not the norm. If you want to join the relative small minority of profitable businesses, here are 2 things you need to do:
Start a list of customers
It is amazing how many businesses simply rely on one time sales for their money. Instead, you want start a list of customers so that you can make money from those who have bought from you. It is much easier to sell to existing customers than it is to get new clients.
Make the next sale quickly
The faster you can make the second sale, the better because the customer is in a buying mode. Therefore, they are more likely to buy right after the initial purchase than they are 2 weeks down the road. It is very important to make that second sale. The more a customer has spent with you already, the more valuable they are to you down the road.
On the other hand, the one-time sale customers are generally not going to be very profitable. Therefore, the more purchases you can get someone to make with you upfront, the better. This is the opposite of what most business owners believe.
Many entrepreneurs figure the customer will not want to buy anything more from them after the initial purchase. In reality, just the opposite is true. Now that they know and trust you, they are much more likely to purchase from you again.
Conclusion
The key to starting a successful small business is having a profitable backend. It is often worthwhile to lose money on the initial sale, because you will make money on the backend. This is contrary to the way most business owners think, but it is true.
