JUAN had a business idea. He followed all the necessary steps in starting a business and opened his store a few months after.
He renegotiated for lower costs from his suppliers. He offered customers better service. He made the quality of his products better. He initiated effective marketing strategies. He continued to find ways to improve every aspect of his business because again, he believes that any improvement, no matter how small, will eventually sum up and make his business better.
With his newfound profitability, Pedro reinvested a portion of his earnings back into the business. He allocated funds to research and development, seeking innovative ways to enhance his products and services. Pedro understood that staying stagnant was not an option if he wanted to maintain his competitive edge.
Furthermore, Pedro understood the value of building strong relationships with his customers. He actively sought feedback and listened to their needs, constantly striving to exceed their expectations. Pedro utilized social media platforms and online communities to engage with his customers, creating a loyal following and fostering a sense of community around his brand.