For people who are just starting a business, there are many things that need attention. A budding entrepreneur must focus on the customer. This means that our services and products must meet customer needs.
Quoted from kumparan.com “The main reason why a business fails is the product. Customers are priority. And it starts with presenting a product that fits their needs. We must continue to find out whether customers like the products we offer. Do they want new features? What are they saying?
The products we sell must have added value. Because, he said, in the present era information can be easily accessed. Thus, if our products do not have significant differences, this will certainly have an impact on future business performance.
In the initial phase of running a business, we usually want to make various investments to develop the business. However, we also have to pay attention to capital flows or cash flows so that the business continues.
At least, we have ideal conditions in which our cash reserves can meet operational needs for the next 3 to 6 months.
Especially to measure whether our business is already on track or on the right track, I suggest doing a review within a certain period. From the futures review, we will be able to find out whether the business is according to plan or not. Because, this will be taken into consideration in future decision making.