With easy access to technology these days, a large number of people are stepping into the small business world. This fact translates into severe competition, making it necessary for business owners to stand out if they are to have any shot at success. Simple, hit the million dollar jackpot from the first few steps and you’re there!

The question is, HOW? How do you make a million dollars at such an early stage? If you follow a few ideologies, you might be the one to achieve this milestone.

Market Research

Before stepping into the market, make sure you know exactly which kind of market will handle your product best. Suppose you want to begin as a sports goods supplier in the market. Consider the level of interest this would generate in an old home community; not much right? However, if you start in a college community where sports are an integral part of college culture, you are bound to to score a greater number of clients.

It is also helpful to conduct surveys and polls on social networking platforms to better assess what market needs. Extensive research of the market beforehand save you from making many of the common mistakes most business owners face when starting out.

Marketing Strategies

The Internet age has made marketing so much easier as compared to business marketing ten years ago, there are many million dollar businesses who have started. You do not have to spend a huge chunk of your capital on marketing anymore! All you need is a creative strategic approach on tackling your target audience. Majority of people today are highly dependent on technology through their smart phones. From taking pictures to creating documents, a lot is being done using a hand held device.

Targeting customers through social networking sites and launching small-scale promotions increase the popularity of your business, as customers tend to feel more comfortable interacting through this medium.

Under-Promise and Over-Deliver

Perception is one of the most important traits found in human beings. If they receive more than they expect to receive, they are invariably pleased. All customers expect you to deliver on your promise one hundred percent. What if you delivered a few notches above that? You score a happy and loyal customer! These customers are then inclined to “brag” about getting more than they expected by expressing these views through testimonials on social networking sites, thus attracting more customers towards you.

Customer Service and Interactions

Customer satisfaction should be your motto. They are the people who will help you hit the jackpot. Million Dollar Businesses today are highly active on social networking sites where customers find it easier to deal with businesses. Being cordial, informative and up to date with your responses to customer queries will spread word about your business in a positive and effective manner. Ask customers for feedback, and actually — USE feedback from your most valued clients.

Be YOU

Being “yourself” is maintaining a similar in-office and out-office image. Interacting with customers through video blogging, seminars and other events removes the pressure of living up to other people’s expectations. Never compromise your values. It is impossible to keep everyone happy, but if you are being yourself, a genuine following of loyal customers will commence and you will be happy and motivated in doing your work.

Find a Mentor

This is one of the most important topics, Imagine having specific guidance from a business coach who has been where you are, and cracked the code to super-success. Imagine having the right person to bounce ideas off – to save you from wasting time and money on the wrong ideas. Imagine having somebody to keep you accountable and adjust your path each week to keep you on track to achieving your goals. Remember, EVERY successful person (whether they be business owners, athletes or entertainers) has a coach. Sure, we can read all the books, go to all the seminars, and try to do it all on our own. But reality is we can’t be experts at everything. And often, we’re too close to our own business to see the opportunities (and the risks). We ALL need external, analytical input. And we simply achieve more when we get it. Contact or schedule your free call to launch your million dollar business.