- Develop a feasible pricing structure for goods or services that will work over time. Create pricing that is fair to clients, but make sure your prices support making a good profit each quarter. Without a healthy profit from your endeavors, your business can't pay expenses and continue to grow.
- Your business should not appeal to everyone. Most likely, you will need to target "working adults" or "people who earn more than $50,000 per year" as clients. What you choose to sell and how you advertise must directly fit a specific clientele.
- If you sell high-end antiques, place your business near upwardly mobile neighborhoods or in a high-traffic area. Don't expect to succeed if your location is wrong. Don't get tempted to rent a space simply because it's inexpensive.
- Plan to advertise in a medium that works. For example, if you pick up a lot of clients via a local radio station each week, stay with radio advertising for a while. Don't skip around to newspapers or TV advertising, if radio advertising is yielding customers. Do what works.
- Overstock your business, if possible. You must plan to appear as a thriving business. Don't run out of furniture, office supplies or foods on your restaurant menu. Plan to borrow enough money to help you look successful from opening day.
- Enlist the help of a business mentor or accountant to help you plan a weekly, quarterly and yearly budget. Make sure you can pay expenses, restock and keep turning over a profit. While it's risky to borrow significant sums of money, make sure you have enough funding to keep the business moving forward.
