Your goal in business is to profit and in doing this you need tactics to lure people in the community to patronise your products. It's not only tactic your main concern but also a strategy which is very effective that even a competitor cannot outsmart it. You have to make sure that it's effective or may turn destructive like for example giving daily sales to all items thus landslide sales happen forgetting that you make a mistake. It could be sales daily that start from 5 percent not 70 percent.
Wrong business strategy may lead to failure
- Thread starter Starmix
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- #3
if you are a busiess owner and careless about your strategy, then most likely you will not gain in a day or week. It is best to check your strategy if sense customers are coming and if not, change it right away.
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- #6
There is no second thought about a business that has a senseless business strategy, it surely falls to the ground . The business owner must check the strategies of his competitors and if they have the same, that is the reason why his strategy fails, perhaps the competitor adjusts his and yours does not. You continue the same strategy despite senseless.
It's said that a right strategic move at right time can take the business to a new height and a wrong one can bring it down in no time. As a business owner, one has to be always alert about the changes around and tap the right opportunities at right time. Even when a business is not doing good, one right strategic move can revive it and bring it back to track
I agree. Business owners should change the strategy if it is not working for most customers. Having the correct strategies would be best for the business to grow. Failure is okay but if repeated multiple times, strategy should be changed.
True, this is why business owners should always have a backup plan for their business. Even if the original plan is going well, still create a backup plan just in case anything goes wrong in the future.
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- #10
As much as possible, the business owner must do daily monitoring not only the time when he senses something goes wrong in his business like low sales and worker efficiency. He must act now or never.
Business can be likened to a battlefield. Strategy is the determinant if you would succeed or not.
