If you have new in the business or planning to join any kind of business then you must have proper knowledge before to start any kind of business. A logical statement of the business is making money by production or giving such services that are a current demand of the customer. Every business keeps their own traits such Sole proprietorship, Partnership, Cooperative, Franchise etc. We will discuss later the given traits of the business. Today my topic of discussion is some basic rules of the business that everyone must have to go through once before entering into any kind of business market.
Following are the rules of Business
Valued of your Customer Needs
Valuing the customer needs depends on your product. For example, you have one product costing 1000 rupees and your given product is much effective then the asking cost and your customer is satisfied from your product then your cost will be more appropriate as per the consumers essential.
- Value Return to your Customers.
In this rule of business this we find how much value of your product is in return of the customer investment. Here I will again quote the example of your product the how customers evaluating your product. According to this rule of business rate of return is dependable for your product.
- Business Influence as per customers’ Needs
Persuading the customer’s needs. The rule is based on the importance you give and get courtesy in substitute towards your market product. A very clear example nowadays is providing food chain services such as Food Panda. Food Panda has become a fully established business truly based on this law.
- Rule of Legitimacy
Being legitimate in your business with your customers is also one of the important encouragement of a business rule. If you have no genuine concerns in your business you cannot produce or will remain stable in the business market. If you want to create an impact on your customers or want to make your product a market symbol then you have to be legitimate towards your product.
- Rule of Receptiveness
The final and the fifth rule of this topic is accessibility. If you are creating a product and want to give services then you should also be a good receiver too. If you are selling a product and want to receive a payment against the finished goods then must accept with accessibility and that is your ethical right too.
Final words about this topic are how much you will earn against your product and how your business will grow up to a brand. These all depend on your product that how much value you deliver to your customer with your services.