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    Five Strategies for a Successful Small Business

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    Identify and describe the five strategies that contribute to a successful small business? How does each strategy provide for successful results?

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    1) Select a small target market.

    Start small and build on it as you progress. You may think that you need to sell to a wide audience, but that is not necessarily true for a small business. It is difficult for a small business to sell to everyone. It is better for a small business to focus on a small target audience and be the biggest seller to that small audience. Expansion can occur later.

    2) Develop customer relationships.

    It is easier for a small business to know its customers well than it is for a large business to do the same. If you have a small target market, you will have fewer customers. Focus on them, talk to ...

    Solution Summary

    Five strategies for a successful small business are presented. An explanation for how each strategy pertains to small businesses is provided.