9 Business Success Tips for Small and Medium Businesses

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9 Business Success Tips For Small And Medium
Businesses
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Small and Medium Entrepreneurs - UAE Statistics

• Small and Medium enterprises are the backbone and
  job creator in every country. SMEs form the
  backbone of the Middle East economy as they
  contribute significantly to the growth of the
  economy.

According to the UAE Ministry of Economy, the
SMEs make up 94 per cent of the total business,
employing 42 of the workforce and contributing
40 to Dubai's GDP.
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Small and Medium Entrepreneurs GDP Contribution
in the UAE

• SME contribution to GDP is high in the UAE
  compared with other GCC countries
• In the UAE, SME contributes to 60 of the total
  GDP

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8 SME Business Tips

• Here are 8 SME Business Success tips for small
  and medium entrepreneurs that are worth paying
  attention to

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Planning

• Proper Planning is the first step towards the
  Goal
• Planning is the roadmap that helps to achieve
  your Goal

Planning is bringing the future into the
present so that you can do something about it
now. ? Alan Lakein, author Every minute you
spend in planning saves 10 minutes in execution
this gives you a 1,000 percent return on energy!
? Brian Tracy, author and
motivational speaker
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Quality of Your Product/Service

• Strive to deliver products that are durable and
  best in quality
• Stay true to your products and services
• Your companys future depends upon the quality of
  the Product and Service

• Quality is to give the customers what they
  want.
• SAM WALTON
• Quality is generally transparent when present,
  but easily recognized in its absence.
• ALAN GILLIES

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Customer First Principle

• Focus on your customer
• They are the reason why the business exists
• Always look for ways and how to add value for our
  customers

"The magic formula that successful businesses
have discovered is to treat customers like guests
and employees like people." - Tom
Peters "Customer service shouldn't just be a
department, it should be the entire company." -
Tony Hsieh
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Right Employees

• Hire the right employees
• Happy employees are the biggest asset for the
  organisation

"The greatest asset of a company is its people."
- Jorge Paulo
Lemann
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Innovation

• Innovation is the key to success
• Companies operating in the same vertical should
  be your prime focus
• Gain inspiration from the largest business in
  your country

• For e.g. If you are in the UAE, I would advise
  you to learn from the top Business Groups such as
  Al Tayer Group, or their subsidiary such as Al
  Tayer Travel, Al Tayer Motors, or Al Tayer Real
  Estate etc.
• If you are in the USA, then try to learn from
  Apple, Wallmart

"You cant solve a problem on the same level that
it was created. You have to rise above it to the
next level. Albert Einstein
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Test Your Ideas

• Test your ideas before you use it
• Build a minimum viable product test it if
  possible
• Learn from the mistake and customers feedback
  and improve it
• Tweak it to suit your test market
• If you dont like testing your product or
  service, most likely your customers wont
  like to test it either.
  Anonymous
• You have to test your ideas in a public forum
  -
  Hillary Clinton

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Know Your Competition

• Be aware of your competitors
• Analyze your competitor

• When you know both yourself as well as your
  competition, you are never in danger. To know
  yourself and not others, gives you half a chance
  of winning. Knowing neither yourself or your
  competition puts you in a position to lose.
• 
  - Sun Tzu

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Always Improve

• Always look for new ways to improve your business
• Continuous improvement is the best way to keep
  future risks at bay

The improvement of understanding is for two
ends first, our own increase of knowledge
secondly, to enable us to deliver that knowledge
to other. -
John Locke
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Thanks