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Tips business owners need to help them succeed 

The recipe for success is unique for every business, industry and time period. It’s often a mix of luck, determination, a brilliant idea and lots of hard work.

Tags: POS, Innovation, KYC
Published: August 30, 2018

While it may seem that success is impossible to replicate, there are some general principles and concepts most accomplished business owners live by. Whether you’re just starting out as an entrepreneur or have been in business for more than 20 years, here are some tips that will add more fuel your success.

Invest in yourself

You are your business’ greatest asset, so treat yourself as such. Investing in yourself means taking practical steps to care for and improve yourself, like taking breaks and vacations so you don’t burn yourself out and signing up for courses and seminars to upgrade your skills.

But investing in yourself also means not being afraid to tackle challenges, set goals and seize opportunities to learn something new every day. You also need to believe in yourself and face your fears to grow as a leader and overcome obstacles.


Know your customer

Never lose sight of the fact that at the end of the day, your customers are the ones who keep you in business. That’s why you need to have a thorough understanding of who they are, what their preferences are, and what physical and emotional needs your service or product is fulfilling for them.

Find out about their likes, dislikes, what platforms they are most receptive to, and their payment preferences by tracking and analyzing sales data, conducting surveys, listening to customer complaints, and asking for their input whenever you get the chance. Serving your customer better than anyone else in the industry is essential to enduring success and the key to doing this is truly knowing your customer.


Turn to tech

Whether it’s ditching the paper files and using cloud-based web applications to store and share documents, or using Skype and internet calling to work from anywhere in the world, today’s technology can be a huge help in saving you time, money and resources.

One excellent but often overlooked example is the smart POS system. It can help you use your resources efficiently, integrating online and brick-and-mortar sales and payments, protecting you against fraud, simplifying PCI compliance, and analyzing trends to manage promotions and inventory. You can also use this technology and information to offer a more personalized customer experience that consumers are increasingly coming to expect.


Find out more about the solutions that can help you manage and grow your business at elavon.com/staycourageous.