Shoaib has been a strong contender in the business world for quite a while now and he knows how hard it can be to manage your newly founded business in the fast-paced business world. Being aware of the fact that very few startups tend to make it through the end, Shoaib tried to take a closer look into the reasons behind their failure. The two major things he could spot were a lack of knowledge and the need for quick and easy results. This is why Shoaib was kind enough to enlighten us with 5 steps that should be embarked upon while on the road to success.
As mentioned above, he saw that a lot of people tend to jump into new business plans and ideas headfirst without first getting a lay of the land. This has resulted in their business drowning in no time. Before you think of spending your money somewhere, try to research a little and see if that is something where your interest lies or are you just doing it because it’s the new trending thing. Choose something that will be a pressing need for your customer base now just for now but for a long period.2. Invest
Investments can be the building block for your business without investments, you will find it hard to stabilize yourself. Don’t try to brave the storm all alone if you lack the resources to go through with it. Never shy away from the prospect of involving partners in your business. New people will not only bring in more resources but they will also aid in giving you a fresher outlook on things.3. Aim For Creativity
It is important to remember that just like you stepped out in the industry, there are thousands and thousands of other people as well who might come in with more or less the same thing, look for your unique selling point, customize yourself and try to stand out from the crowd. Don’t just look for innovations in your product but also your marketing tactics. Look for ideas that will give long term success.4. Don’t Shy Away From Risks
Whenever anyone hears the word ‘risk’, they tend to jump half a mile away from it. Don’t do that. Keep in mind that positive risks can turn into opportunities. Take calculated risks that can help expand the area of growth for your business and generate more revenue for you. Sometimes you might have to face the cost that comes with it, but a little research can help in making sure it turns out to be a success.5. Stay Consistent
Lastly, always remember that it is not a one time win that will satisfy your customers. You might be able to acquire them that way, but if you intend on retaining and developing your customer base then make sure that you are consistent. Consistency can be the key to success in your business. Stay consistent and watch your sales take a spike.
Instead of looking for quick monetary gains, Shoaib stresses the need to follow your passion. He thinks that with an ample amount of research, calculated risks, and consistency, there is nothing that you cannot attain. Shoaib suggests that the youth should utilize their time productively and try to find long term strategies for success.