[originaltext] Hello, everybody. The last decade has proven to be volatile a

Hello, everybody. The last decade has proven to be volatile and filled with uncertainty. Unemployment rates remain high while federal, state and local support services diminish. It’s no wonder people of all ages are seeking to become entrepreneurs and solopreneurs. In some cases, it’s the only option available. Small business owners enjoy a genuine sense of accomplishment and contentment. Operating a business necessitates having entrepreneurial spirit, initiative, persistence, tenacity and business insight.
    Here are some Wisdom Nuggets for Launching Your Own Successful Small Business. They’re some of the fundamental steps for living the life of your dreams.
    First, identify your small business and products or services. Select an emerging market niche where demand exceeds supply, one that exhibits long-term growth and strong profit margins. Offer a new problem solver venture, something innovative; secure your trade secrets. Perform your due diligence, and validate that the products and services you have chosen are what people need, want, and are willing to pay for. Determine what it costs to make your product or service, and then set a price. Be certain the business will contend robustly with your competitors. Maintain a competitive edge. Pick a relevant, definitive business name, and follow local procedures to assure it’s available (not trademarked or already popular).
    Second, access your clients or customers. Determine who your customers are, how you will locate them, and what their motivations for purchasing your products and/or services will be. Ascertain how you will reach out to them and scrutinize their business needs. Thoroughly inquire of their problems and perceived solutions. Display a genuine interest in them and their successfulness. Make well thought out offers to service their needs at reasonable prices. More than meet client expectations. Keep abreast of new technologies, techniques and standards. Share them with your staff, your partners and with your clients. If you keep your promises and perform with excellence, they’ll be around for a long time.
    Thanks for listening. Goodbye!
    Questions 23 to 25 are based on the recording you have just heard.
    23. What is the reason why more people start their own business?
    24. What is the speaker’s advice for target markets?
    25. What will our staff, partners and clients do if we keep our promises?