Keep it simple should be the mantra always for starting and running a successful business venture. Entrepreneurs are always surrounded by a lot of unnecessary and wrong advice from people around them. They cannot decide on what to implement and what to follow. The Internet is filled with lots and lots of information, but proper genuine information is always a concern. So, the entrepreneurs who are starting off should not refer to all the sources at once, and they should not spoil their thought process by overthinking. Some basic tips like those mentioned below will definitely serve the purpose of beginners.

Hitting off with a detailed, proper and solid plan:

Some important characteristics of a good plan:


Clear vision and mission

Flexibility to alter or change

Setting up deadlines


Fixing up milestones

Setting up deadlines for important projects

Adhering to latest happenings around the globe

Balancing professional and personal life:

Often we hear from people that they are not able to spend time with family due to work. But this situation can be and should be avoided. Striking a balance between personal life and work determines the capability of a person. Otherwise, it may lead to various other complications. In regular intervals, it is essential to take a break and relax. This will be beneficial for the soul and body as well. Without good health, maintaining business is utterly impossible. Meeting relatives and friends between hectic schedules will help in bouncing back to the routine with stupendous energy levels. Many entrepreneurs do not care about this aspect, but it is the most important one. It is advisable to maintain healthy and cordial relationships with both official and personnel people.

Selecting right people with positive vibes:

The atmosphere at workplace plays a significant and subtle role in the growth of any organization or business. Teamwork is very essential. The first step in setting up any business is hiring efficient staff. The employees must be firm, responsible, active, energetic, intelligent, sharp, mature, talented, loyal and caring. Choosing partners is also very important. They must have the right tactics and strategies for the growth of a business. The right staff always helps in setting things right, and wonders can be achieved with their hard as well as smart work.

Networking and connecting with people across the globe:

Publicity is significant for any kind of business. Digital publicity, mouth to mouth publicity, publicity through media and print are a few ways of letting the world know that a new business is being set up. Nowadays new entrepreneurs hire professional networking teams to hit it off well. It is crucial that more and more people get to know about the business. Connecting with new people, businesspeople, expanding horizons of people known helps the business to take off. Promotional events can be held, and advertising on social media can be done. The ultimate aim should be that the news of business 

should be spread like wildfire.

Checking out future perspective with smart moves:

Our world is changing rapidly, and it is vital to keep an eye on the latest trends and technologies. Upgrading oneself from time to time plays a crucial role in the growth of any business.

One should go through the internet, web, business magazines and blogs. Businesspeople should perform market research to stay in the competition. One should be able to predict the pulse of consumers and should be able to evaluate as what is going to rule the market and business world.

Starting a business and flourishing is a tough task. Many tips and tricks need to be mastered to get profits. Let us first understand the difference between tactics and strategies. The major one is a strategy which defines what is to be done, but tactics explain how to do it. Tactics are formulated by middle-level management and strategy by top level management. A strategy is a bigger picture and tactics are used to deal with present situations. Tactics generally support the strategy. The goal can be achieved by tactics while strategy paves the way towards the goal.

The most important and useful bullet points that form the tactics to achieve strategic goals are:
Product strategy
Pricing strategy
Marketing strategy
Operational strategy
Financial strategy

Product strategy:
With ever-growing technology, industry demands more user-friendly and easy to use products. The scenario keeps changing as there is a stiff competition between the companies. Let us take the example of Microsoft and Apple companies. Both are in neck to neck competition but have achieved their goals through excellent tactics and strategies. Apple owns its own software, and it is licensed. Apple manufactures its own phones and computers. Microsoft manufactures its software and then puts it for sale so that people can use the software on their personal computers. So, even though their fields are same, due to their different tactics and strategies, they are corporate giants.

Pricing strategy:
Many people have a wrong opinion that if the prices are low, then the quality is also low and vice versa. Even going for low priced goods during discount sales is not a good option. Reduction of prices by the companies to attract buyers is not definitely a safe and good option as it might hamper the reputation of the companies. Apple Company always maintains its high prices as they have a firm belief in their products and they also get sold like hot cakes. The techniques depend on the class of the people, region, the value of the currency, etc. Nowadays many companies offer low EMI rates, reduce late payment fee and introduce various financing offers.

Marketing strategy:
Let us again consider the companies Apple and Microsoft. Let us see what products they are reputed for.
Office package
iPods and pads
Graphic interfaces
Certain people have certain tastes, and companies need to focus on them. Advertising in a creative way which plays a significant role in drawing customers. Acquiring other companies or collaborating with them always increases brand value. Promotional drives or events lure the consumers in a good way as there is a benefit for them as well as the companies.

Operational strategy:
The basic aim of operations is to reduce the costs for production and so, obviously, profits will be increased. Let us see some of the tactical strategies below.
Resorting to less expensive means.
Monitoring working hours.
Purchasing reliable and latest technological machinery.
Establishing factories/ outlets closer to the people.
Using enterprise resource planning software.
Spending more on automation rather than people.
Using leased employees and machinery.

Financial strategy:
In running and maintaining huge companies, funds may have to be mobilized suddenly without prior notice. This is when reputation comes into play. One must always be prepared for emergency situations. Companies can be made public; investors can be invited, borrowing without extra payments for assets, payroll financing, etc. can be done in inevitable circumstances.