Starting your own business in San Francisco can be a bit tricky. Some niches are highly competitive. There are many challenges along the way. The majority of startups fail for a variety of reasons. And for Steve Barbarich, having a successful business requires a smart approach and dedication.
As a perennial entrepreneur that established different businesses, there are some tips that entrepreneurs can learn from Steve Barbarich San Francisco ventures. This involves developing products to deal with complaints.
Give importance to every complaint
Steve Barbarich complaints strategies involve a few things. First, there’s the medium used to receive the complaints. Over the years, a lot of people prefer sending emails or communicating via social media with companies when they have concerns about products that they bought.
Another strategy used by Steve Barbarich when dealing with complaints is to offer transparency to his customers. It means that there should be no fine print that can mislead your customers. Though it saved big companies millions of dollars, it leaves customers unsatisfied. For Steve Barbarich, happy customers could a chance to become successful.
Start Small
Next, for startups, it is important to not go all out especially if you are only testing the water. Having a startup doesn’t always guarantee success. There are a lot of factors that you will have to consider if you want your business to survive. Unfortunately, there are curveballs along the way that could make a startup go bankrupt.
If you decide to have a startup, then might as well start small. Invest money that you’re willing to lose. Some startup entrepreneurs tend to get the help of other people to minimize their risk exposure.
Take time to develop your product
A good product will help give you a good reputation in your niche. Steve Barbarich worked hard as an engineer to develop products sold in his businesses. But in some situations, he also needs the help of other experts. Though it is an expensive part of starting your business, this is a good way to bring your vision into reality. You also want to keep on testing the product and get it right before you even have it available in the market.
Also, there is feedback coming from customers. Be sure to take things objectively if you get complaints or simple feedback from your customers. Use this information to improve the product and be more competitive in your niche.
Pricing
Next is the pricing of your product or your services. There is no denying that a lot of people compare prices online. However, it also doesn’t mean that you should aim to be the lowest of the bunch. There are instances when the lower-priced items are usually the worst. You need to make sure that the price is reasonable to what you offer to your market.
There is always a chance that a business will fold. In San Francisco, a lot of restaurants closed during the pandemic because of lockdowns and COVID19-related restrictions. The bottom line is that there are things that you can’t predict. It is important to adapt and adjust depending on the situation to have a successful venture.