BY PRIYANKA ROSHAN, JUNE 20, 2024
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Establish reliable connections with suppliers, distributors, and customers for better deals and market insights.
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Offer a range of products to spread risk and appeal to a wider customer base.
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Maintain accurate records, manage cash flow effectively, and secure adequate working capital for growth.
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Use technology for inventory management, CRM, and online sales to expand reach and enhance efficiency.
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Uphold high standards in products and services to foster customer satisfaction and loyalty.
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Provide excellent service, respond promptly to inquiries, and address feedback for continuous improvement.
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Analyze market rates and cost structures to set competitive prices that attract customers while ensuring profitability.
Adhere to all laws and regulations concerning taxes, licenses, and trade requirements to avoid penalties.
Identify and mitigate risks such as market fluctuations and supply chain disruptions through diversification and contingency planning.