What’s the technique to succeed in business? That’s the most commonly asked question of startups and business owners that aren’t up to par with their opportunities. Although there is no concrete answer that fits every industry, there are a number of principles that all successful people adhere to. It doesn’t matter what you retail, you’ll leave the competition in the dust if you adhere to these rules.

Stay true to the game

It doesn’t matter how much money you make, if you don’t have a passion for the business, what are you doing? If you operate a profitable business you don’t like, even if you’re successful, it will slowly melt away your soul one way or another.

Know the demand

The coolest business to operate is one that manufactures products or services that the masses know they need. Why? You don’t have to have a massive amount of energy and cash convincing customers why they want whatever you’re selling. You can center on why you’re the leading supplier to meet their demand. Just make sure the need is one the masses will spend to meet it.

Sell products for more than their true cost

If there is a little difference between your true cost and actual selling price, you will have a hard time expanding your business. When your profit margins are slim, you won’t have the necessary funds to hire additional employees, pay bills, market, and many other things.

Estimate expenses… then double it

New businesses never realize the importance of overhead, marketing, and taxes, or greatly undervalue them.

Stay true to the people

Never promise anything you can’t deliver. Never lie or inflate the benefits of what you’re selling and you must deliver a high quality product or service. Word-of-mouth is the best way for small businesses to find customers. Using the Internet and several social media sites helps to increase your awareness to even more customers.

Learn how to market

The world won’t come knocking on your door just because you built a website or wrote an ebook about how to build companies or teach people how to run their business. To get customers you will have to market the hell out of yourself successfully and frequently.

Treat your team with respect

Your team is a major part of your business and your overall success. If you look down on them, bug them with silly questions you could find the answers to using Google, or just headache, they’ll never take the time to help you out.

Use the web

It doesn’t matter what you sell, there’s a possibility that your customers will use the Internet in one way or another to make a final purchase. They may use online yellow pages to find a photographer in Chicago, IL, or go to Bing or Google and search for a phrase like “Professional photographer Chicago”, or “photographer weekends Chicago” if your customers have no way of seeing you online, how are they going to give you their business?