MARKET If we don't understand the current market needs

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Especially purchasing patterns, buying power, and customer types, all of these will cause product demand to decrease. By understanding customer patterns and behavior , the goal is to identify the suitability of our products with market demand.

Even though our product received a high response when launched, it is not necessarily the demand that will always be there. Build an R&D team that is always thinking innovatively to keep our product as the 'most updated product', perhaps in terms of technology or mixing methods, etc. All of this will also make our marketing strategy easier in the future.

Let's take Maggi as an example. For decades, Maggi has been firmly established in Malaysia and to this day, people continue to spend on marketing specifically to further increase demand for Maggi noodle products.

#4 LEADERSHIP


Weak leadership, without control, will affect the implementation of algeria phone data the company's growth. Leadership is very important to ensure that teams carry out their tasks effectively. As a founder/leader, you MUST ensure that your teams have sufficient training.

For those who focus on resellers, make sure they also get continuous training and motivation. ' ENERGY ' will start coming from a leader. But if the leader doesn't set a good example, it's impossible to have a POWER2 team! Even if there is one, in the near future, you will be left behind .

#5 FINANCIAL MANAGEMENT


COMPANY & PERSONAL , if personal financial management FAILS, what about the company? Founders must be efficient in managing finances, in terms of investment, buying assets, reserve tank (company), etc. Resist the desire for a luxurious lifestyle at the beginning of this business period.

There will be a time when we will spend. But first make sure that the company's financial status is secure for the next few years in case a situation happens that we cannot control like what we are going through now with COVID-19 . How many large companies have had to ' downsize ' and some have even ROLLED UP due to their weak financial management.

If you can successfully AVOID these 2 MISTAKES, God willing, it will be easier to grow your business. You just need to improve your MARKETING AND STRATEGY .