Title: 
Three Things You Should Never Do In Business

Word Count:
466

Summary:
There are some things you should never do in business if you want to be successfull. If you are already a successful business person you are well learned of this. If you are a new business person then these three tips may be very valuable to you.

The first thing you NEVER want to do is to be  miserly with advertising. A guide would be to allow 3 to 5 percent of  your Gross Income. Without correct advertising campaigns your business will chance taking a big loss in  product...


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Article Body:
There are some things you should never do in business if you want to be successfull. If you are already a successful business person you are well learned of this. If you are a new business person then these three tips may be very valuable to you.

The first thing you NEVER want to do is to be  miserly with advertising. A guide would be to allow 3 to 5 percent of  your Gross Income. Without correct advertising campaigns your business will chance taking a big loss in  product, sales and services.
An example of this would be when a small business that puts out  Audio Books, is introducing a new product. The business is new and hardly known. They do have a website, and a small classified ad in the local newspaper. Only a small percentage of population is going to be aware of this busines and it’s product. A better method of  advertising would be to advertise in many State or National newspapers.  Billboard Advertising,both online and offline  in  heavy trafficked areas, can also be very profitable. These may cost more, but you will attract  larger consumer interest. Without reaching customers, you lose.

Secondly, NEVER fail to learn who is  your business competition.  Your business has to have a competitive edge, so you want to  consider this. An example of this is a small super market store. You  want to know  what the other stores have to offer. Is there a large selection?  Do they have specials or concessions? You should develop a USP. A USP is a Unique Selling Proposition. After you studied your competition, don’t try to out-do them, introduce your  USP . Customers love to save money, even if it is only few dollars.

Finally NEVER leap into a business without doing research. You want to be certain you know all of the details about the business you are involved in. You want to know financial details as well as carrying out feasibility studies. How many similar stores  in your area that will be in direct competition? How many vehicles pass your doors in a 24 hour period and what can you do to get them to come in?  When you take the time to  research a specific business, you guarantee success for yourself.  

If you make an effort to follow the above guide on what NEVER to do in business then you are on the right path. You build a solid base for business success. Be sure not to jump into any business decisions without research and well thought out plans. Care for your business like you would your children. Administer  what it needs to expand and you will be content with the end result. Be certain you follow the do’s and NEVER the donts and watch your business boom.