Guys….. 12 steps to the success of your small business

Small projects in Egypt are currently receiving a lot of attention from the state, within the framework of the new republic, in addition to the impact of international changes that the world is witnessing. Dr Essam Lotfy, professor of business administration and banking expert, says the establishment of a small project and the Achieving professional independence is a dream for many young people, This dream, which today is available to everyone, but succeed in your small project and expand it?

There is no doubt that sincerity in work and diligence is the most important key to find your way, and you can achieve success in your project by following certain steps that distinguish successful projects from others, and among the forefront of these steps:

1 Before you start working on the establishment of your small project, you must first study the market around you and know it well, what it lacks and what it needs, and you must plan for each small and large project in the project, and verify that the products or services you want to provide are required in the market.

2- Create a new idea. When you offer something different from what others offer, you will attract a segment of the market that targets this difference, and this means that the good or service you provide must acquire a unique characteristic, which you must know and know to you customers, and convince them that they need it.

3 If you have a hobby, turn it into a project and thus increase your chance of success. If you love fishing, open a shop for his tools, and turn your love of sweets to make them, and your passion for new food into a restaurant project, and turn your love of travel to be in the field of tourism to work.

4 Look for the problems people face and find solutions in your own way, ask everyone around you about the daily problems they face, they can refer you to new ideas, and you need to come up with new, simple and innovative ways to solve.

5- Choosing the right time to launch the project, as timing is one of the most important elements for the success of any project.

6 Time management, where people spend a long time managing their money, forgetting that their real capital is time, and perhaps what distinguishes successful people from others is that they improve time management and make the best use of it, as they invest their time by themselves to develop and develop their experiences, and turn their ideas into projects, you must consider time as a scarce and important resource, you must optimize its investment, work hard for a long period during the day with the ability to work to strike in time, not all activities are equal, some are more important than others, so set your priorities, and start with them.

7 Learn from your competitors. You must constantly follow up on your competitors, especially those who are outperforming you. Try to know the secrets of their success and their strengths, and work to utilize them to create and develop your project, and to strengthen you. competitive position. Likewise, it is important to learn from their mistakes and avoid them.

8- Focus on innovation, it is necessary to constantly develop your products, invest in innovation and development, and not be limited to developing new ways to improve the product or service you sell, but it must all aspects of the project, you must constantly strive to find new ways to market and communicate with your clients and obtain Financial resources and team management.

9 In order to choose a good team, to ensure the success of your project, you must carefully choose a leading team that has a spirit of enthusiasm and desire for cooperation, zeal and diligence, and always looking for innovators, innovators and owners of different ideas, and you should always encourage them to work and try to tell them that the project is their own to create and invent.

10. Managing cash flows in a proper manner: managing cash flows, maintaining cash flows for the project, and providing the necessary financing in a correct and professional manner are among the most important factors for survival, continuity and success of the small project. The personal accounts of the project owners, and there must be a financing plan for the project that contributes to its continuity, but also to its growth and expansion. When partners and funders see that you can strike a balance between projected and actual budget, and the project is under control, their support for your business will increase.

11- Be inspired by the success story of a famous person in your field, there are many inspiring success stories that you can read, but when you feel that there is a rich celebrity around the world, his condition is close to what you are now , you will feel as if there is an energy of hope that you have bred.

12 Each of us has ambitions that he tries to achieve, and in order to realize your ambitions, you must plan and then study the ways to achieve them, and you must know that at the beginning of any project, the project implementer encounters some obstacles and must overcome it.

Finally, while implementing the previous advice, you must trust your ability to succeed and work with this confidence and work to avoid introducing the word failure into your project. When you decide to create a project, dream you and you want to create a successful project and strive to realize that dream.

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