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Why these 4 important decisions can make or break your business

For any growing business, there will come a point when decisions need to be made. These decisions are often the most difficult ones to make, but they are also the ones that are most crucial. When these decisions are made, they can either lead to success or they can lead to business failure. The major decisions that can make or break your company are: How you advertise What you sell How much you charge What you name your company Each of these decisions have the power to destroy the business with just one mistake. Choosing how you advertise can limit your potential advertising channels. Depending on the business, this decision could eliminate the ability to advertise on

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It’s easy to be lost in the world of business and to start to feel like you are just one of the millions of people with a startup company. But it’s important to remember that your business is unique and has the potential to grow into something great. When making important decisions about your business, always ask yourself these questions:

Is this my passion?

How will this impact my customers?

Is this my expertise?

How can I create a company with an edge?

If you answer these questions honestly, you may find that the answer is ‘no’ to at least one of them. You might want to reconsider your decision or alter your plans to include more of your interests, expertise

Attracting the wrong clients to your business can undoubtedly make or break your business. For example, you might have a daycare with a great reputation for caring for children at an affordable price, but if you also have a reputation for being late with pick ups, that’s going to deter otherwise qualified parents from signing up with you.

It’s really important for you to be aware of common misconceptions of your business. Listen to negative feedback with intent to understand, not just dismiss it. Take the time to see if there are any opportunities to improve your business if it’s true.

Pricing yourself too low is also a dangerous game, both because you will have a hard time making any profit and because it can lead.

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