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| − | A business is an expensive venture. Even a small business costs hundreds if not thousands of dollars to set up, and it would definitely be heart-breaking to see it go down the drain.
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| − | Businesses close due to several factors, and one of the biggest factors is the owner’s or the manager’s business management skills.
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| − | Business management is a course taught in schools, but it, too, is a talent.
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| − | Factors to Consider
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| − | There are many factors to consider when managing a business. It’s impossible to sum it all up in one article, but here are the few most important factors business managers and/ or owners have to think about.
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| − | Competitors – You will always have competitors, unless that business has come up with something no one has ever thought of before. It’s important to study the competition so you’ll have an idea how much other people are charging for the service you’re providing, what marketing strategy they’re using and how they’re getting people to come into their business.
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| − | How to Provide Great Customer Service – Many business owners don’t realize the importance of customer service. They think the most important factor is selling their products, but nothing’s more important than maintaining relationship with your customers and that’s only possible with customer service.
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| − | In order to provide the best customer service, you have to know what people think about your business. A great way to do this is through reading customer reviews – what aspects should you improve on? What else can you provide your customers so they’ll feel good dealing with you? For more information, I recommend reading this article about [http://wiki.geigw.de/index.php/Customer_Reviews_and_How_Businesses_Benefit_From_Them how a business can benefit from customer reviews]
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| − | Managing Employees – It’s also very important for the manager or business owner to know how to take care of his or her employees. Paying them is not enough, he or she should also know how to manage them in such a way that they’re actually happy working for the company.
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