Business upgrade, a must entrepreneur's yearly goals

What does it takes to upgrade a business? it's simply a deliberate, conscious or a systematic improvement on the overall performance of the business in order to enhance competitiveness and growth. One can see it with me from this point that business upgrading doesn't really connotes having or building so much financial strength but the result of it, improves the financial strength of the business. Therefore, business upgrading is a deliberate and conscious effort of prospective entrepreneur to be able to improve, if not all but various aspects of his/her business so as to enhance growth potential.

The goal behind this intentional effort of business upgrading is to position a business in such a long-term success by first, adapting to changes in the market through creativity, improving labor efficiency and product effectiveness to be able to meet the evolving needs and expectations of customers and the society. Business
upgrading is that continuous process that helps Amy business to still be relevant irrespective of the level of competitiveness as it will be able to be responsive to market changes without fading out.

Do I need enough financial strength to upgrade my business? This is a two way answer yes but really important if business upgrading was all about money, many companies any wouldn't have folded up in short time, it takes high level of creativity and creative minds upgrade business, this is the issue of who the entrepreneur is, his level of thinking, his workforce, his management team and his vision for the business, is the business just for his present need satisfaction? Does the business has future prospect? Who occupies critical position in the business? And what are their motives?

Is business upgrading possible without finance? Yes and yes, only if you are intentional and purposeful, creative and ready to work for it. Business upgrading is just a process of placing the business in the heart of the consumers who are the financers of the business, be creative to compete with innovation, be different and strive to remain relevant at all costs.

Business upgrading is consummated in the enhancement of the business efficiency which therefore enhances the competitiveness which brings profitability in return, also, there are wide range of strategies and activities that encompasses this process ranging from rebranding,
launching new marketing campaigns and programs to enhance feasibility to the employment skilled and efficient personnels.

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