For any business person there is the opportunity to get on top of the market. It can be something as simple as these high-impact, easy-to-use techniques.
You should plan an “advertise 1 item at a time” strategy. This does not mean that you can’t SELL more than one item at a time. You just have to wait until AFTER the initial sale has been made.
When a customer sees more than one product being offered at the same time, he will become confused. He will start asking himself which one is the better deal? He may struggle with a personal preference. These questions can lead to a decision to delay the sale. It is better to offer the consumer a range of complimentary products in a nearby display. Many stores even offer impulse items at the check out. You’ll make extra profits instead of losing a sale.
You should be aware that your competition is looking for you in all the usual places. Change things up by not going there. You have to look for alternate ways of advertising and new markets
Why start a business from home? It’s probably much more comfortable and relaxed there than it would be in an office setting. You can easily take care of your children and spouse and pets, as the needs arise. Also, it’s the perfect opportunity for people who are just unable to leave their houses for medical or other reasons. Besides, by having your office at home, you save considerable money on gasoline and insurance!
Although it is convenient for those, and for many other additional reasons, starting a home business can also be rather difficult. You must first find profitable ideas that will be successful enough. You will need a good financial strategy for the monetary aspects of your business. And, you need to maintain your business despite whatever bad business situation you may encounter.
All of the most successful businesses started with the best ideas. And most of those ideas were started not by pure imagination, but instead by someone figuring out what people want and need. Is there something that you can do or make that will help people? Is it something
Social entrepreneurship is more than a recent trend spurred by the emergence of the Millennial generation into the business world. It represents a shift toward accountable business practices and creating sustainable change in the world.
These new entrepreneurs aim to create a career for themselves that is both fiscally sound and has meaning in a wider global context.
There are distinct differences between these social entrepreneurs and entrepreneurs behind the age of digital sharing. Both groups are interested in changing the world through innovation. However, those interested in social enterprise are more interested in using innovation to impact the systems that make inequality and poverty a reality for too many people.
What many of these socially-minded businesses have in common is a desire to take responsibility for these problems. By changing the business model to reflect these goals, social entrepreneurs are able to use their businesses’ profits to further their social causes.
The School for Business at Oxford University refers to this practice as a combination of innovation, opportunity and resourcefulness to create social change. This social change is designed to be transparent and sustainable.
Buying an existing business can be a great opportunity for someone looking to gain entry into a certain industry. Existing businesses come with great perks like an existing customer list, established vendors and employees, and tangible assets. However, existing businesses can also come with some negatives, such as bad bookkeeping, tax burdens, debt, and poor management. Understanding the various peaks and valleys of purchasing an existing business is the key to making the transaction a success.
A lot of small businesses tend to purchases and sell businesses without an attorney or any professional advice. While this may save you a little bit of money in the beginning it will cost you a lot of money in the end. When purchasing an existing business it is important to do as much due diligence as possible. That means understanding what liabilities (debts) and assets the exiting business has. There are two types of sales that are usually associated with purchasing a business: an asset sale and an interest sale. With an asset sale, you are only purchasing the assets of the business, i.e. chairs, tables, supplies, customer lists etc. When an asset sale occurs, you have a Purchase Agreement,
Normally whenever we think of taking on a project, we lay out the plan and define the tasks necessary to accomplish the goal. Consider something as basic as building a house. The builder and the buyer agree on the basics – number and size of bedrooms, bathrooms, kitchen layout – the eventual “footprint” of the house. It then becomes the responsibility of the architect to develop blueprints which will be submitted to the town or local authority for approval. Once approved, the builder will assign a project manager to move through the steps to completion.
Here’s where small business marketing works best, when the parties work in reverse order. The client (the internal marketing manager or the external business decision maker) needs to embrace the idea of where they want to end up. And unlike the house building example, there are many different choices to define success.
For example, success could simply be defined as a growth in revenue from an existing run-rate to a run-rate with a higher number. For example, lets say the business has been growing 10% a year for the last 5 years, and the goal and purpose of marketing is
My oldest son is a sophomore in college and recently joined the TRIO program. This program is designed to help him get through college successfully. It’s a federally funded program that helps students in four areas which include academic, financial, career, and personal/social. They sent him an article related to study tips, so he sent it to me to read. I read it and was amazed at the tips and how they not only are geared toward studying, but also to life in general.
Here is what I learned from that article.
In everyday life we can become overwhelmed when we have too many things on our plate. What we don’t think is that it’s possible to get everything done on time and in an efficient way. Of course, the only way that will happen is if we learn how to manage our time and organize our day. Here are several tips that will help you to manage and organize your day.
You may plan every day, but if you don’t give yourself enough time to get everything done, you’re setting yourself up to fail. If you’re not sure how long it
One of the greatest challenges in today’s times is how can one be a productive employee or entrepreneur. Entrepreneurs end up finding too many tasks to focus on and thus end up losing concentration. Employees, on the other hand need to either be motivated or guided in order to keep up the productivity levels.
Here are some tricks that can help you in being a productive employee or entrepreneur.
1. Follow 80-20 rule.
20% of the work produces 80% of the result. That is the sole pretext on which the rule works. When it comes to employees who hold designations like that of managers, it helps them allocate resources depending upon the importance of a task. Entrepreneur on the other hand, must understand that if he or she is operates in the buying and selling space, then bulk purchases will always provide more revenue than individual sales. Thus, focusing on those bulk buyers will produce better results for his business.
Both employees and entrepreneurs must concentrate their energy on restricted and dedicated activities which can then boost productivity and yield better results.
2. Have a healthy routine
If you look at some
Entrepreneurship is a mindset more than anything else. It’s far more than just about starting and running a business. Startup success begins with YOU. How you think informs the decisions you make and the actions you take. Some people have a growth mindset that empowers them to learn, grow and expand. Others have a fixed mindset that limits their ability to see new and better perspectives, opportunities and innovative ideas.
Successful entrepreneurs share a mindset. There’s a DNA in the way entrepreneurs think about being entrepreneurial regardless of the setting that they’re in. Entrepreneurs are curious people in many ways. They don’t march to the beat of the status quo. They ask “Why?” a lot. They ponder “If this/Then what?” again and again. They are willing to put themselves out there as they galvanize those around them in their vision of what’s possible. In doing so they attract great experienced mentors and advisors who keep them positively and productively focused on the goal – no matter what.
Entrepreneurs are willing to take a beating and are determined to keep on ticking. They are willing to face rejection after rejection and see that rejection as an opportunity
One characteristic that seems to be universal for entrepreneurs is that we have ideas. Not just one here or there, but a TON. Ideas every day. Multiple ideas in a day.
You probably understand that you can’t act upon and bring to fruition every single idea. You have to be selective. Some ideas will work; others won’t.
So, then you are stuck in a dilemma: do you take action or not? Not all ideas are worthy of taking to their end game, but how do you figure out which ones are worthy? And so you might stay stuck, and you may not follow many ideas at all.
Your success as an entrepreneur depends upon your continual growth, evolution, and forward movement. And your ideas are how that growth, evolution, and movement manifest.
Here’s my simple Success Plan for Entrepreneurs:
- Have an idea
- Act upon said idea
- Follow through and complete idea
Honestly, the place where I see most entrepreneurs falter is #3 – the follow through and complete. Now, sometimes you might realize, as you play with an idea, that it’s not really sound, or it’s not the right time. That scenario is not
One of the greatest lessons every female entrepreneur can learn is that soul and strategy are not to be regarded separately. In fact, your soul guides your strategy; and your soul is the driving force behind all your efforts, thanks to which you persevere and eventually succeed.
What Is Soul?
There are many definitions given for the concept ‘soul’, depending on the philosophical standpoint espoused. As an entrepreneur, it is useful to conceive soul as your full awareness and consciousness, with which you decide on the goals that matter to you individually; and also build and apply your business strategy effectively. You can only achieve success if your goals are set to fulfill your soul’s ardent desires. Naturally, you also need to have the courage to do it; and you find this courage when you believe in your capabilities. The most excellent results can be obtained when you are engaged in activities with the full participation of your soul. When your strategy corresponds to your innermost longings, magnificent things start happening.
A Magical Alignment
It is the magical alignment of soul and strategy that will make you reach and even exceed your goals. As
Preparation of efficient strategies will be necessary for success whether planning for a “lemonade stand”, or wanting to run the lemonade stand from your “executive suite”. Now that the symbolic foundation has been laid for business, one can begin conducting day-to-day operations. I am quite certain than many successful people would agree that a certain level of preparation was associated with their achievements. Had they not been prepared to sacrifice that of which would contradict their vision, they would have not achieved all their great accomplishments. In this article I plan on creating a visual to emphasize the importance of preparation in the world of business. Visualize this scenario.
A wealthy, successful, and influential Independent Business Owner is “away” on business. This entrepreneur has a lot that they are responsible for while conducting “market research” in the area. While checking their itinerary for the day, this entrepreneur’s phone rings. RING! RING! RING! “Hello” the entrepreneur answers. “Mr. (Ms.)_______, I hate to bother you, but I JUST HAVE to inform you of this Lemonade stand I ran across. It is the best lemonade stand in the land.” The business owner responds sarcastically, “If you are pulling my
Tired of investing time into an organization where your value is overlooked? Is your productivity not fairly compensated with co-workers who perform less work than you? If you answer yes to either of these questions, it may be time to take a leap of faith and start a business.
Starting a business is common practice. Matter fact, 75% of business ownership in the United States is made up of sole proprietors, small businesses consisting of one or two people.
Don’t know where to start? Think of a hobby or passion such as crafting, writing, poetry, cooking, etc and determine if it can be turned into a service, product or both that can serve a consumer need.
Small business experts such as SCORE and the Small Business Administration (SBA) are excellent resources to help launch your business efforts. To supplement SCORE and SBA, the information below addresses important steps to start a business.
Build a Mind Map
Mind Maps are spider-like diagrams, commonly referred to as brainstorming. A mind map begins with a question or statement, “I want to start a business.” The goal is to identify business objectives, strengths, weaknesses, opportunities and threats.
To hustle or not to hustle?
Currently the use of the word “hustler” is thrown about as a positive way to describe oneself as having an entrepreneurial streak, or starting a new business.
From the 1800s, hustler meant “thief”, and in particular, someone who was aggressive with their victims. Nowadays, the dictionary still holds this definition true, describing a hustler in a negative light: a thief or criminal; a gold-digger or prostitute; an overly pushy salesman (OED, 2015). In modern music (mostly ghetto rap), “to hustle” refers to a way of making money and doing it against all odds. Maybe the latter is where startups are drawing their inspiration from?
Hustlers work for immediate gratification to obtain cash-flow, without a long-term vision. It’s about a foot in the door, a constant drive to keep making the money – it’s all about making the next sale.
As an entrepreneur myself, I would NEVER like to be referred to as a “hustler”.
Why hustle when you can “undertake enterprise”?
Being an entrepreneur may involve overcoming odds and making money, but it’s definitely NOT hustling. Startup entrepreneurs find ways of making money, but do so ethically and in terms
The idea of being your own boss and doing your own thing the way you want it were my primary motivating factors when I took the plunge to become an entrepreneur some years back. Then, it never occurred to me that there are costs I will have to incur which were not very obvious, at least to a casual observer. But now, I know better. When you decide to become an entrepreneur, everyone struggles to make it out there regardless. The following are hidden costs I have since discovered many entrepreneurs routinely incur without even knowing it.
01. More Valuable Time Use. To be a good entrepreneur, you are routinely trading off your valuable time for the opportunity to live your dreams. You need time, real valuable time to nurture and grow your business to get the desired results. No amount of time is quite enough for you to devote to the business. In some cases particularly at the beginning of your business, you may need to practically live your life for the business to make sure it succeeds. That takes real valuable time away from you which you could have used for other things.
Do you fail to succeed because you split your time, effort, and resources among multiple projects? You don’t focus on one project until completion, sequencing one project after the other. Instead, you attempt to do them all at the same time.
No one project ever gets full attention, or meticulous detailed care. Your projects don’t really get a fair chance at succeeding. This ends up being called “multi-tasking” and ends up as multi-sloppy work instead. Without focus, your efforts are scattered, incomplete, and amateurish. There is no way you or anyone can spread their energies among multiple projects and do a great job of all of them. If you often find yourself in this position, here are a few ideas for you.
1) Choose a priority project and relegate everything else is secondary.
Focus and refocus on your priority project at all times. Remind yourself that it is the priority project for now and that everything else is secondary. When you have blocks of time free, spend them on that one project. When consistently tempted to scatter your energies among multiple projects, discipline yourself repeatedly to stick to the priority. This specific facet of
If there is one personal device that has brought about phenomenal change individually and the world as a whole it has to be the mobile device. The world has made steady progress from the time in 1973 when Martin Cooper an executive at Motorola first used a wireless instrument to make a call to his competitor at Bell Labs owned by AT&T Joel Engel. A device that was predominantly made for wireless telephony is now used as a camera, for surfing the internet, as an entertainment device, video conferencing and a lot more. Infact mobiles have become so integral to human life that on average the time spent using mobile phones equals 23 days in a year or 3.9 years of an average individual’s lifespan. The growing influence of mobile has ensured that both private and public entities give adequate attention to the medium. In case of private entities or businesses mobile has transformed into a battlefield with each business entity trying to outsmart the other with mobile enabled services and applications. Forrester in its forecast suggests mobile commerce in the US alone will touch $142 billion in 2016 and account for 49 percent of total eCommerce sales
Marketing your service or product to your audience is essential. If your product is not known to the audience, it is as good as being non-existent. Marketing your product is primary, but the channels used for marketing it are equally important. Digitization has seen many debates between traditional and online marketing. Online marketing is the new niche that has tools in abundance to boost your sales. In order to take full advantage of the internet world, one must make sure of having the right digital marketing agency that knows all the online tools perfectly.
Traditional Marketing consists of newspapers, radio announcements, yellow pages etc. Online Marketing consists of all the social media accounts, web development and search engine marketing.
With technology, the avenues of marketing have expanded. Today with more than half of the world having a smartphone and being continuously connected to the internet, the dynamics of marketing have certainly changed. But is it for the better? Let’s find out!
There is a huge cost difference between traditional and online marketing. Creating an online advertisement to reach out to potential customers and people of the same industry cost a fraction of
To understand the advantages of wholesale marketing you should first have a clear idea about the concept of wholesale marketing. In wholesale marketing the producer or the manufacturer of the item will directly sell their product to the company. These companies then have an option of directly offloading the product in the retail market or sell the same as their own brand. There are a number of advantages to wholesale marketing. We shall have a brief insight into 6 such advantages of wholesale marketing.
1. Money savings can result in money generation:
AS a wholesaler, you will have to buy the products in bulk. This will entitle you to large discounts. You will be dealing directly with the producer or manufacturer without the involvement of a middleman. As you can purchase at the manufacturer’s price, you will be able to save on the fees you may have to pay to the middleman. The only hitch is that you may have to purchase in bulk. However, you can use the large network below you to dispose the products faster. Thus, money saved is money gained.
2. Creation and propagation of your own brand:
Quick Tips when it comes to market research and attracting ideal clients.
1. Determine what specific services and products you want to offer potential clients and existing clients as their career coach or resume writer. Go beyond the humdrum “I do career coaching” or “I write resumes” as a way to describe and market your service.
2. Avoid being perceived as a “generalist.” Highlight your unique qualities, industry expertise, and being able to meet specific needs of clients who work with you. In other words, don’t try to be everything to everyone. Get clear about what you enjoy doing most, how you can help your clients, and what results clients get from working with you.
3. Test your ideas and retrieve critical input by occasionally sending out a brief survey to your newsletter or special report (free taste) mailing list. If you get negative responses, view them as constructive criticism and chalk it up as a learning opportunity, which is a good thing! SurveyMonkey is a well-known survey tool and it’s easy to use. You can ask up to 10 questions for their free service or you can upgrade your account for a fee. To