Business is an art as well as a science. It’s a matter of practical experience, judgment, foresight and luck. To be successful in business, you must master the basics of business success.
- You must identify a market need and develop a product or service that fills that need. Your product must be unique and hard to copy. For example, good Italian food wasn’t the first thing on every restaurant menu but today it fills a niche that no other food type can fill.
- You must market aggressively, and maintain an edge in your business through continuous research and development. Your product must be sold. The buyers of your product must be sold. You must create the need for a product or service that may not have been desired before you came along. For example, a few years back airlines began selling individual headsets to passengers for movies and music on airplanes. Even a pair of headphones in a store had the molded cable that allowed the plug to stay put and the headphones to hang freely to save space. Their wires were all arranged in a coil to save space. These innovations were not necessary before, or even imagined, but today even the headphones you buy at the 7-11 are like that.
It’s the nature of business that someone INVENTS something new or invents a way of doing something better. I suppose that it may have been possible for someone who saw a new way of doing something to be able to copy whatever it was that he or she had seen. But it takes resources, talent, initiative, vision, determination, and industry to invent a better way. Or a product or service to fill a niche not previously filled. The later requires you to think laterally and come up with something that you know will sell. Typically, you invent and develop products not (necessarily) to fill an existing need but to create a new market. It only takes you to be first.
Here at Welp Magazine we aim to provide you with the tools to be able to achieve all the above.
Nec mora negotium successu solvendum mysterium. Est inscius restituere propositum est, ne, si tantum de causis ob defectum negotium focus in melioremque locis, quae jugiter et in negotiis responsible pro victoria