ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

How to Build a Successful Business?

Updated on August 24, 2019
Ihshanullah M profile image

Ihshanullah is pursuing a Master in Business Administration and has developing marketing research on How to Develop a Successful Business.

How to become Rich?

When you have the ability to build a successful startup you obviously become the richest man in the world. You are here to know about that 3 secret ingredients on How to build a successful start-up. The answer is very generic and has excellent benefit in the future when you used it in a genuine manner. The 3 steps are

  • Believe in Numbers
  • Strong Product
  • Service matters

All the successful business people in this world should have followed these 3 steps in their startup to build it into a big company. As we all know that, this is an information Era the main objective for us to generate a network of peoples who actually will be our customers one day in the future. The information of every individual in your network will become an asset to your company. Do you know who the richest man in the world is? Do you know how he becomes the richest man in this world?. For both questions, the answer is they Believed in numbers.

A well-reckoned number will never cheat an Entrepreneur

Believe in numbers - Financial Control

Believe in numbers indicates the person who is like to build a startup should financially control all cash outflow aspects. The owner of Amazon.com and richest man Jeff Bezos who actually followed this rule of belief in numbers in order to make the biggest network of this information Era. He actually started his career with a teeny amount of twelve hundred dollars and built a successful online business worth 12 billion dollars.

How to advertise effectively

An entrepreneur must utilize his gathered resource in an essential manner. If he/she can control the cash outflow from the company they can easily generate a lot of profit through their designed product. How to make a huge profit through advertising effectively.

  • Reduce the cost of promotions & marketing
  • Use digital platforms to do marketing & sales
  • Entice people through effective product design
  • Market the products using free online marketing resources

Create a network of people

After the financial efficiency, the person should build a qualified network of people to push their product in the market. There are a lot of online web sources to create a network of people and also to do marketing for their product. The web sources like YouTube, Instagram will pull a huge amount of customer to your product. In recent days, SEO becomes another powerful tool for marketers to push their product to customers in an easy manner. Some of the famous startups failed due to the improper allocation of the funds given by their investors. For example, a food startup called Yummist which failed to raise the funds because of the over-exploitation of the resources what they had in their company. So a successful business owner should spend efficiently in order to survive in this competitive market

A strong product will pull customers towards you

Strong Product

What a Strong product really means? We can Exemplify Amazon to understand the aspects of the strong product. when quitting his job, Jeff Bezos found the real potential of the Internet and realized how people actually perceiving their business through the usage of the internet. So he decided to develop a software which will do the work of postman or mediator in real estate.

Learn from the environment

Amazon actually connects the buyers and sellers through a platform on the internet and earns from every single order made through the software.


Similarly, another app called Facebook whose owner is the 3rd richest man in the world.

Facebook actually connects people through its online platform and earns by selling ads on their wall page. These two guys actually designed a strong product to pull their customer towards them which gives them a grand success without spending a lot on Marketing & Promotion. People who want to be a successful entrepreneur in the future must develop a robust product which fascinates customer towards the product and also construct a network of online community through different communication platforms.

Don't spend more on promotion

AskMe is a failed startup due to the flaws in their product. By Generic, AskMe is a search engine to gather information about anything you want. But it is not a strong competitor for the tech giants Google, Yahoo. Without having a strong product AskMe spend a lot of money on marketing and promoting their products through Ads. They cast Ranbir Kapoor in their Ad campaign to promote their products. Like AskMe, there are a lot of companies quit the market due to the fault in their product. Only a strong will sustain in the market even though the competition is hectic in the field.

Loyalty could be earned through good customer service

Source

Service Matters

Most of the startup followed the above mentioned 2 rules to build up their startup but they failed in the 3rd important step of rendering good service to their customers. Service plays a major role in constructing a Strong brand value to the product what they are making in their organization. In order to build strong brand value, customer satisfaction and their loyalty towards the product is very important. Customers trust in the product gives an added advantage to the Startup to acquire the support of the customers. Good words from loyal customers about the product will provide massive enhancement to their products. Nowadays, most of the startup are concentrating on the service sector to build a strong brand. For example, food delivery startups like Swiggy, Zomato are focusing on the service field by delivering the promised value to the customers anywhere and any time. Other E-commerce companies like Flipkart, Amazon also rendering excellent service to the customers by giving the products on time to every customer. These startups are increasing customer wealth maximization through their decent service without any discrepancies.

Render a decent service

Most of the startup followed the above mentioned 2 rules to build up their startup but they failed in the 3rd important step of rendering good service to their customers. Service plays a major role in constructing a Strong brand value to the product what they are making in their organization. In order to build strong brand value, customer satisfaction and their loyalty towards the product is very important. Customers trust in the product gives an added advantage to the Startup to acquire the support of the customers

Spread through word of mouth

Good words from loyal customers about the product will provide massive enhancement to their products. Nowadays, most of the startup are concentrating on the service sector to build a strong brand. For example, food delivery startups like Swiggy, Zomato are focusing on the service field by delivering the promised value to the customers anywhere and any time. Other E-commerce companies like Flipkart, Amazon also rendering excellent service to the customers by giving the products on time to every customer. Customers are indirectly promoting the companies service through word of mouth and influencing other people to use their service. These startups are increasing customer wealth maximization through their decent service without any discrepancies.

Ordinary or Extra-ordinary, the way you think decides which one is you

Success!!

Everyone can build a startup with their own ideas and crafted products. but, if you are a person who wants to build a startup which should earn a huge amount of customer base for the product then you should definitely consider these three steps. Start your company with 12 hundred dollars and follow these three rules to be worth 12 billion dollars in the future.

© 2019 Ihshan

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://maven.io/company/pages/privacy

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
    ClickscoThis is a data management platform studying reader behavior (Privacy Policy)