Greater Oklahoma City Chamber of Commerce

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Today, you don't sell, customers buy. This is one of the most important examples of how everything in the relationship between business and its customers has changed. It isn't about you; it's about your customers. Understanding why your customers will buy from you is essential to understanding what your business is and how it should be structured. If customers don't want to have breakfast in your restaurant, it doesn't matter if you serve the fluffiest omelets in town!

Your Business Your company exists to meet customer needs. Your business model is what you do and how you make money at it by meeting those needs. Think about your business as three core processes - three major activities your company carries out.

Thinking about it? Thinking about starting a business can make you crazy. You're excited about being your own boss, yet fearful of the responsibility. Certain about your great idea, yet uncertain about what to do next. You have lots of assumptions, but very few facts you can use to make good decisions about how to invest your limited time, energy and resources. Here is your guide through some things you should consider, including tips and tools to help you focus on what matters most during the planning and preparation of your business.

Risk The risks of starting a new business can be very intimidating. Some folks believe that unless you are risk taker, you shouldn't be an entrepreneur. Actually, entrepreneurs work diligently to reduce risks. Here are five ways our approach to starting a business helps you reduce risk: 1. Starting with a pushcart means you're putting less at risk while closing gaps in your knowledge 2. Focusing on your customers' needs and wants reduces the risk of creating a product/service that is out of line with your customers' expectations 3.

Knowing exactly when to take action, your sense of timing, is a critical business building block. How long it takes you to decide that an assumption is valid or needs changing is directly related to how much information you gather and how quickly you can process and connect it. Your ability to process and connect information is based on your talent, your experience, and your dedication to your business. Your talent, experience, dedication, and timing together form your intuition. While timing is always somewhat intuitive, it can also be taught and developed.

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