Inside Small Business | Small Business & Home Business Marketing

Customer Spotlight: WealthStrategies Financial Advisors, LLC

WealthStrategies Financial Advisors, LLC
Northville, Michigan

Managing Director: Brian J. D’Aprile

WealthStrategies is a private wealth management firm specializing in comprehensive financial planning and investment management for individuals and small businesses.

Our Tips for Success:

1. Every business needs a formal business plan. A business plan is literally your roadmap to success and makes you consider your strengths, weaknesses, opportunities, and threats.
2. Know your target customer. Without knowing what demands you are trying to meet, you’ll never succeed. Get to know the specific details of your customers, what problems they have that you are solving, what motivates them, and how to reach them. Once you truly understand your market, then a marketing plan will naturally unfold.
3. Choose the right legal structure. Educate yourself about the many forms of organizing your business. Take the time to do your homework here and you will be grateful down the road.
4. Think about all the mundane issues as the “devil is truly in the details”. One such detail is accounting. Your business will run much smoother if your books are in order
5. Make sure that you are passionate about your new business. Don’t even think about starting a business unless it is a product or service that you have a hard time staying away from.
6. Last but not least, protect your business. Many businesses skimp on risk management and don’t insure themselves properly. Almost all businesses have some potential for legal liability and our society is becoming more and more litigious every year. Business liability insurance is often more affordable than you think and is a cost of doing business that should not be avoided.

           

Posted on Thursday, April 20th, 2006 at 11:43 am and is filed under Customer Spotlight, Small Business. You can follow any responses to this entry through the RSS 2.0 feed.