You have aspirations of starting a business but you’re concerned about how much it will cost and what you need to get started. There’s a massive misconception that you need to get your hands on so many different things to kickstart a small business. This might be the case for specific business ideas, but the truth is you can start a company with as few as three pieces of equipment:
Your laptop will be what you use to run your business and manage everything. We’ve chosen a laptop over a desktop PC for the simple reason that it’s portable. It enables you to bring your business with you wherever you go, rather than being tied to a desk at home. Now, if this laptop is also a tablet, then that’s even better.
These days, you need a smartphone to carry around with you at all times. It will be an extension of your laptop, letting you manage your business on the move. You can seamlessly use apps to look at different things - like your bookkeeping - and it’s an easy way to stay in contact with any customers. Plus, your phone doubles up as a place to make and keep notes - it can also hold your schedule, providing push notifications that alert you to what you need to do today. Honestly, in some cases, a smartphone is all you need to start a business!
Oh, and it also serves as a mini-hub for internet connections. You could use your hub at home, but your phone can also be used as one and still provide you with superfast 5G internet.
You might think that printers are becoming obsolete as we move into a more digitally focused society. However, they play a big role in business management. Firstly, you could use a printer to create advertising material that you post around town to gain more exposure. Or, the main reason you need one of these devices is to make physical copies of things. We’re talking accounts, contracts and so on. Having physical copies of important business data will give you one extra failsafe in case the data gets deleted or goes missing.
It’s also worth noting that you can get printers for sale by boomerangtcrqld.com.au that double up as photocopiers and scanners. So, if you have any physical documents, you can scan them in to have digital backup copies!
What Businesses Can You Start With This Much Equipment?
Loads, absolutely loads.
Basically, any type of online business can be started with this much stuff. It’s entirely possible to start a company where you provide services or guidance to people online, and all you’ll need are the items listed above. This could be a graphic design consultancy business, a marketing consultancy business, etc.
Or, you can open an online store that sells software or other digital assets that you can gain online. There’s also the possibility of selling real products and using dropshipping to avoid needing any physical stock or storage.
This proves that you don’t need lots of money or equipment to set up a successful small business. Realistically, all you need is a laptop, smartphone and printer.
No, it’s not practical. But can it be done? Absolutely!
Starting a business these days is a daunting task, but it’s not because the logistics are difficult. The difficulty comes from competing with other businesses and trying to find a place for yourself in an industry that is full of competition. Other difficulties come from personal struggles such as finding the motivation to start a company and staying mentally fit so you can overcome all of the challenges ahead of you.
So if you’re looking to start a business of your own but have no idea where to begin, then we’ve got a few tips to help you. It’s mostly about changing your mindset and being as resourceful as you can, so you don’t need to have prior knowledge to succeed.
The majority of your knowledge and skill will come from first-hand experience
Don’t underestimate just how important it is to actually do something in order to learn from it. Practical experience is a fast-track way to learn new skills and it’s far more efficient than trying to learn in a classroom and then apply all of that knowledge to what you do. Nothing can prepare you for the unpredictable nature of running a business.
With that said, marketing courses and other similar qualifications are fantastic for helping you learn more about business and will give you a basic understanding of important concepts. However, beyond that, there’s really nothing as good as learning on the job. Learn what you need to get started, then invest the rest of your time and effort into running your business and learning as you go. You’re going to make mistakes and you’ll fail a few times, but learning from those experiences is extremely valuable.
It's okay to ask for help
Whether you have experience of setting up a business or not, one thing that differentiates "successful" people in the business world from others is their willingness to admit they need help along the way.
For example, if you know nothing about setting up a website, it's better to work with a web design company and have them create a site that brings in the customers instead of building something mediocre that everyone will loathe!
Take advantage of the skills that you have alreadyIf you’re going to start a business then it’s usually best to begin with something that you have a bit of experience in. Even if you don’t have business knowledge, having some expertise in something will make starting a company around it much easier. While you don’t need to be an expert in a particular feed, it does help if you’ve got a bit of professional knowledge. However, if all you have is a passion to do something, then that’s better than starting completely from scratch.
For example, if you’re interested in using your DIY skills to start a business, then you should consider trying to run a business that relates to things like workshop hardware or even starting your own contracting firm. This will save you a huge amount of time and will make sure that your ideas and concepts are more realistic because you have experience in the field.
So to conclude, starting a business with zero knowledge isn’t impossible, but it’s much better if you have at least a bit of experience with the sector that you plan to join. But if you don’t have much knowledge, you shouldn’t worry too much as you’ll learn most of what you need on the job, and then you can study to complement your first-hand experiences.
If you run a small business, the past 18 months have been largely about surviving. Now is the time to focus on thriving once more.
You can only make this happen by actively focusing on the right improvements. Here are six of the best solutions to help take your company to the next level.
Invest in your team
Employees are the driving force behind your business vehicle. As such, you must find effective ways to maximize their output. This can take many forms. Staff training is a particularly popular option as it helps upskill your team. Further options include TCHI for physical and mental wellness. Promoting stronger links between different teams can play a telling role too.
Cut your expenses
When looking for ways to boost your business, you are primarily looking for ways to boost the revenue. In reality, though, it is a far easier task to reduce your expenses. This can be achieved by trimming the fat on supplies, energy rates, and subscriptions. When your company spends less money without reducing the quality of its output, it makes you far stronger. Not least because you can adopt more flexible pricing models.
Revamp your marketing strategy
Reduced overheads will deliver stunning and instant results. Nevertheless, boosting the company’s long-term performance will rely heavily on the ability to reach new clients. In today’s climate, digital interactions are far more common than offline ones. As such, learning to develop stronger social media marketing campaigns should be a priority. It is the first touchpoint and can put users on the path to conversion.
Take on remote workers
Following a very difficult period, the thought of hiring permanent employees may be a little too daunting. However, remote-based contractors enable you to strengthen your team in quality and numbers. Better still, this outcome can be accomplished without upsizing your commercial properties. Or committing to long-term contracts. Given that this is still a period of uncertainty, you will prefer this approach.
Focus on time efficiency
If you’ve ever felt that there aren’t enough hours in the day for your team to get things done, you are not alone. It is possible to create more time, though. For starters, you can look to use Zoom video links to remove the need for long business travel. Adopting work from home or hybrid working can work well. When supported by automation and tech devices that speed up your daily processes, you will notice the difference.
Partner with another company
It’s only natural to assume that it’s your business versus the world. But it doesn’t have to be that way. In fact, teaming up with another company could work wonders. A gym and a health foods store could easily link with each other to drive mutual business. SMEs can also share resources to create a more efficient business model. When combined with some of the ideas above, you will see stunning results.
Setting up your own business can be hard, and there is a long list of things that you need to consider before taking the plunge and going it alone. However, there are a few things that are often overlooked that are very important parts of your business. Here are a few of the things you need to consider.
Having a business website is the backbone of creating a digital presence. But websites are often an afterthought. Then the problem lies with a rushed website that looks unprofessional. This is a shame because a well planned website can help you in so many ways. You can showcase your brand, get all of the company information put in one place, and it can be a touchstone for customers.
A lot of people rely on social media in the early days of their business as a way to grow awareness. This is great, and we can’t knock it, but it is a limited way of doing things. Having a good social media page is a must, but there should be a website that people can click through that is independent from the various social media platforms. This way, you can stay in control of the content that you put out there.
Having to work from home for the last year and a bit has put a focus on how the world has changed. Now employers are trying to find ways to ensure that there is no further disruption between their clients and their employees. Companies such as Voip are tailored to helping businesses, something that is very useful if you are trying to navigate the new world of working from home.
Having a company phone can be as big as having your own network to having a separate phone number for business calls. The most important thing is, it will keep your own personal number private, providing separation from your company.
A business address
Have you thought about where your business is going to be registered? It is completely legal to register your business at your home address, your address may be made public. This can be pragmatic for a variety of reasons, especially if you want to keep your business and personal life as separate as possible. This is very important for female entrepreneurs and can provide extra safety that people won’t know your home address.
If you have a small business, it might be tempting to use your own account for managing your business accounts. There are a few problems with this, and a big one is mixing up your own finances with the company books. Opening a business account can be cheap and a great way to keep finances under control. You also get extra protections with a business account that doesn't come with a personal one, so it is worth your while asking your bank what they can do for you.
These are some of the most overlooked things when it comes to setting up a business but depending on the type of business you are opening, there can be many other things that you will need to include.
All aspiring entrepreneurs have one thing in common: they want to compete with the big boys who have already made a name for themselves in the business world. No matter what line of industry you're in, you'll almost certainly have a rival, and it may be hard to stand out and be discovered when you're new to the game. So, how can you catch the attention of your target audience while you're fresh to the game in order to ensure that your business survives? Check out some of our fantastic and effective methods to get your business noticed in a big way.
While there are many other forms of advertising available on the internet, we recommend Google Ads since it is not only the most popular search engine, but it also tailors its advertisements to both consumers and companies. It's actually a very simple premise that works by showing ads that are related to the consumer's search history. Customers will see ads for items they are likely to be interested in, and companies will not have to worry about their ads being shown to the incorrect people. You'll have total control over your ads and be able to see precise analytics on how they're working.
Do something unexpected
Trying to conform to what every other similar company is doing isn't going to help you stand out. While it may seem to be the rational thing to do, taking a chance and doing something entirely unexpected will attract attention. This may be as simple as designing a billboard that no one would anticipate from your field of business, or as radical as making a promise that your customers can't resist such as creating a world where everyone is connected, just like https://worldmobile.io/smartvillage do. Different is always better, no matter which path you take.
Write your own jingle
We've all had a catchy jingle stuck in our brains at some stage, which is why it's a great way to advertise your business. Radio and television commercials are effective ways to engage people and keep your product or service in front of their thoughts. All you have to do now is come up with a creative jingle and get the word out!
Contact online influencers
In today's world, almost everything centers around the internet, and many people have taken advantage of this by using it to spread the word about something they care about. There are a slew of top bloggers and vloggers who can spread the word about something in the blink of an eye, so reaching out to these influencers to work out an agreement could be worthwhile. To get your name out there, you might utilise link placement, banners on their website, item reviews, or even sponsorship.
Putting your name out there isn't easy, but if you use the ideas we've provided, we're confident that your company will stand out from the crowd in no time, and you'll be getting the customers you want for your business.
As a business owner, you need to make sure that your company reaches its maximum potential. This means that you need to work to ensure that business does see a high level of growth. While growth should never be instant, you must ensure that you keep up with the competition. Here’s how to ensure that you’re not falling behind.
Speak To A Professional
First, it’s important to make sure that you do use a professional service. The temptation here will be to DIY your marketing. However, this is always a mistake because you will end up using tactics that are either outdated or have a black mark against them by Google. If you speak to an SEO consultant, then they will be able to make sure that you are taking the right steps when marketing your business. When you contact a company like this, you should always check the tactics that they are planning to use. It’s important to explore whether they do have a solid plan in place. You should also check whether they are researching your company. If they don’t need to complete any research into your brand, then we guarantee that you are going to receive a cookie-cutter service.
Next, you should explore researching your competitors. You need to look at what they have done in the past and then work to correct their mistakes while learning from their strengths. The easiest example of this would be with their content strategy. Every business should be using content as part of its marketing campaign. With the right content, you will be able to give your customers a reason to keep returning to your site. By researching competitors you can look at content they have used that has worked before. You can then tweak, adjust and improve it to ensure it brings more for your audience.
Customer Reward Scheme
Finally, you need to make sure that you are exploring ways to deliver more value to your clients and customers. If you give more value, then you will be providing them with greater reasons why they should be choosing your company over key competitors. There are lots of different ways that you can deliver value. One of the best is to introduce a reward scheme. The big benefit here is that it means that customers have a reason to keep buying from your company rather than to buy once and forget about your business. It shows them that you care and that you are ready to tackle their pain points.
We hope this helps you understand some of the ways that you can ensure that your business grows faster than ever. When you’re looking at options like this, the thing to remember is that results are never going to be instant. Indeed, if you do see your company grow overnight, then it’s a strong sign that there are blackhat tactics involved that you must avoid at all costs. Services that promise instant marketing results are often no different than get-rich-quick schemes. They are always bad news.
Whether you are stuck in a career rut or have been spending your days sending out application after application, the current climate means that finding a new job feels impossible. With businesses seemingly closing left, right and centre, each open position has an influx of overqualified candidates vying for the spot. As a result, you may feel as though opportunities are being swept out from underneath you.
However, sometimes in life, we have to make our own opportunities - after all, we are the only true driving force behind our success. One way in which you could do just that is by taking the plunge and launching your own small business. Here are some top tips to get you started.
Find your niche. In order to run a successful business, you need to find a way to stand out from the crowd. This means that your services or products should be entirely unique so that you can win over customers from your competitors. To put it simply, there is no point in introducing a product or service to the market if it has already been done before or can be bought elsewhere. Finding your niche or unique selling point helps a small business become a profitable brand.
Put money into your small business. In order for your business to succeed, you may need to invest a little of your savings to get the ball rolling. For example, you may need to purchase the materials needed to make your products ahead of time or pay for ad campaigns to be curated. If necessary, you could also talk out a small business or personal loan to support your venture - though you should ensure that you work with reputable and transparent companies, such as Buddy Loans.
Stay inspired. The best small businesses tend to come about when an entrepreneur finds a way to make their passions profitable. For example, skilled and passionate writers can easily make a career from themselves - whether they become a blogger, a novelist or even a copywriter. However, it’s important that your passion for your business does not dwindle over time - as you need to ensure you can motivate yourself and continue to complete tasks to a high standard. One way in which you can achieve these goals by ensuring that you stay motivated and inspired.
Connect with your customers. Another way you can put your small business on the path to success is by forging a strong and lasting relationship with your customers. This means that they will not simply buy a single product from you - they will return time and time again. The easiest way to start this relationship is by first ensuring that you have a clear understanding of your target audience. This way, you’ll be able to provide them with the kind of products and services that you know they will love. From there, you should ensure that you communicate with them effectively, be that in person, over the phone, or online - through social media and emails.
We all have days when things don't look like they're going to work. Days when the sky is falling, and the universe is punishing you.
The day that feels like a fluke is the day that you have to stop, pause and re-evaluate the plan of attack. If the day didn't feel like a fluke, then you are in no position to make changes to improve your prospects.
As a solo entrepreneur, the fluke will always be fluke. However, it is a sign that you are approaching a place where you can start tweaking and changing the way you do things.
The one thing that you must be able to do is to look at your current plan and ask yourself, "is this still a viable plan?" If the answer is no, then re-consider your options.
If you are alone, then you must make yourself a Board Room. For those of you who don't know what a Board Room is, they are an expert witness (kind of like an attorney, except they sit on the Jury). It is a small room with comfortable leather chairs, where you sit across from the expert witness and ask him/her questions.
In essence, the Board Room allows you to get a third person, a neutral third party, to look at your case, objectively, as if you are sitting across from a judge.
At the end of the Board Room presentation, you will have learned all you could from your presentation in an environment where you were able to ask intelligent follow-up questions.
This may not be the answer you were looking for, but it is the answer you need to get you back on track.
So, ask yourself: do I have a plan? If you don't, why not? If you do, is it viable? Can I afford to take the risk? And then, ask yourself: will this plan change if I have a Board Room?
If you want to start a business, you’re going to need to find a way to get into that entrepreneurial mindset. Getting into the right mindset is key, whatever it is you want to do. Any great business owner will tell you the same thing. If you’re not sure that you’re in the right mindset yet, below you’ll find some pointers that will help you get into the entrepreneurial mindset in no time. Read on and see what you can do:
1. Find Mentors
Find mentors who can inspire you. How do they act? How do they think? You may not be able to pick up on it all right away, but continuously trying to learn from them can help you to adjust your own actions and mindset. They can be people you know in real life who you admire, or people like Tony Robbins. You don’t need to spend a fortune to go to their seminars, unless you really want to. Reading up on their free material and watching their talks online can help you in a myriad of ways, and it won’t cost you anything.
2. Read Books
The more books you can read on the subject, the better. Of course, some will resonate with you more than others. Try to read at least one book per month so that at the end of each year you have gotten through 12 books that have helped you to expand your mind. Books like Think and Grow Rich and Automic Habits are amazing places to start.
3. Get Clear on Who You Need To Be
Your self image can have a lot to do with how easily you are able to get into ‘entrepreneurial mode’. You can do lots of reading and learning, but if you don’t change your self image, you’re unlikely to actually get to where you need to be. So, get clear on who you need to be to achieve your dreams. What do you need to believe? Who do you need to spend time with? How do you spend your days? Really immerse yourself in this new vision of yourself and then try to become that version of yourself each day. Soon, you won’t need to try and your goals will come to you far more effortlessly.
4. Set SMART Goals
Setting vague goals rarely helps anybody. Setting SMART goals can help to give you goals that you can actually measure. SMART goals are specific, measurable, attainable, relevant, and time bound. This way, you know exactly what you must do, can see whether you’re getting to where you want to be, and have a deadline to keep you focused.
5. Work on Your Limiting Beliefs
Limiting beliefs are often deeply ingrained in our subconscious, and play a huge part in how we act and what we believe we can achieve. In a way, it ties in with our own self image. Figure out what you believe deep down. You may consciously believe you can be a business owner, but what about subconsciously? If you don’t think you’re smart or cunning deep down, then you may not get to where you want to be. Get to know yourself inside out.
6. Figure Out Your Budget
A budget will help you to see what you need to focus on when you get started. You’ll also be able to approach suppliers and start building relationships with them, which can further help you get into the right mindset. Whether you’re looking at a company to provide a carbon steel butt weld or a company to outsource your accounting to, make sure you consider this carefully. You will need to be frugal with your budget to begin with.
7. Stop Being Self Centred
A good business owner in this day and age is always people-focused. This means remaining focused on both your customers and your team. It’s time to stop thinking about yourself and how you can benefit and instead think about how you can provide value to the people around you. This is what makes an effective business that can stand the test of time.
8. See Failure As A Step Towards Success
Failure doesn’t need to be the boogeyman of business. It can teach you so much about what works and what doesn’t, and should be looked at as a valuable lesson. You aren't going to make it through life without making a few mistakes. Make sure you appreciate these mistakes and learn from them. Don’t dwell on them!
9. Always Keep Your ‘Why’ In Mind
Entrepreneurs have a very clear idea of what their ‘why’ is and what they would like to achieve. If you forget your ‘why’ or your personal mission, you could easily fall out of your entrepreneurial mindset. Before making any decision, remind yourself of your why. Write it down so you can see it every day. Making sure you keep it in mind will inform you in many positive ways.
10. Stay Flexible
Flexibility is key as an entrepreneur, too. You might be able to get into the right mindset fast, but that mindset might not benefit you forever. Things are changing, across all industries, and they are changing faster than ever. Make sure you’re always prepared to learn and do new things, whatever it takes to be successful. A flexible attitude and way of working is a must in 2021 and beyond, so don’t allow rigid thinking or an inflexible way of running your business.
Getting into the entrepreneurial mindset fast might not seem possible to some, but with determination and SMART goals on your side, you should be able to do it in a week or less. This doesn’t mean you’ll never need to work on your mindset again, just that you’ll be in a much better place to start your business venture. It could even be worth changing your idea of what ‘entrepreneur’ means. It doesn’t have to mean a suit wearing, fast decision making, cut throat person who is cut off from their emotions. Anybody can start a business in this day and age!
It is not uncommon to encounter a lot of people who are looking for a business that they can start with little money. There are many small businesses that are booming today and tomorrow.
One of the best businesses you can start with little money is the one that is selling goods and services. The goods and services you can be selling are the ones that make life worth living and give you satisfaction. It does not matter though if your business is making money or not - all that matters is that there is a need for your goods and services.
When you think of your business, what comes to mind? Perhaps it is something that you can sell with little money - like handmade bracelets with sentimental value. What about a service like babysitting? You can be a babysitter for children and adults. How about being a personal shopper and selling fashionable clothes?
As you think of your business, you might even come up with ideas for it that go well beyond what I mentioned - like being a wedding planner or a wedding planner consultant. You could sell services like designing logos or logo development or logo writing and print development, or even help people create websites or store websites. So let me ask you a question. Is there a business that you could start with little money that would give you satisfaction and a reason for living? I sure hope that you can answer yes!
"There are no limitations on how much money you can make as a business owner"
"You can earn money doing anything that doesn't jeopardize your health, safety or the lives of others"
- but of course if there were boundaries that would prevent you from earning money doing things that you like, there would be no need for entrepreneurs!
The bottom line is that you have to develop your own business idea. I have already explained why this is a good idea but you have to do more. You have to do research on it. I have given you some hints as to where to start but I have gone further into details on this, including some of the steps that you have to take. You need to do all of this, and more, to learn the lessons that you have to learn in order to become a success in your own business. It will help you become a successful entrepreneur in your own way, but please don't stop there because your own business idea is only half of it.
Now I would love you to answer the question. What business idea do you have?
The most important thing that you can do to ensure that you have a business idea that will give you the greatest chance of making a profit is to do your research. This means that you have to do two things: First, learn as much as possible from other successful entrepreneurs who have already done what you want to do. Second, learn as much as possible from those who have failed before you, so that you can learn from their mistakes and avoid making the same mistakes. There are some great sites to find out more about these lessons and the mistakes of others. I would recommend that you join the CEO community, as this is where I started and have been learning from others who have already been successful in their own business. I hope that this helps.
I've been working with online entrepreneurs for well over a decade now and in that time (and especially during this time) I have learned many interesting lessons and tips of the trade. One of those lessons is the power of having a vision for your business growth and success.
Many of us would much rather "wait and see" what happens than take steps toward our dreams... especially when they're small (like building your own website) and grand (like taking your business from the comfort of home to millions of people looking at your site everyday).
In this day and age where there is more information than ever before, you would think that we would rather listen to someone who can show us HOW to build our business and what tools and resources we need but the sad truth is that too many entrepreneurs listen to someone who has all the knowledge... and quit when they discover that they don't know how to do what they want.
One other very important factor in getting your business started, is having a mentor.
This is not just any old mentor though; in my experience you want someone who has done exactly what you want to do, and exactly how you want to do it... so they will be your sounding board as you learn the skills necessary to get your dream of building your business... going from a hobby into a profitable business.
You want a mentor who knows exactly how your business should sound, and exactly how you can get to that point.
You want a mentor who knows exactly which tools and resources will be the best for your business.
You are going to spend many, many hours working with your mentor and we don't want to find out that the skills and techniques we invest in during our time with them is not what is needed... and you're going to be frustrated because you spent too much time with the wrong tool or technique.
So make sure there is someone who lives your dream as much as you do and has gone beyond what you thought was possible! So many entrepreneurs waste their precious time in an effort to "perfect" their business instead of concentrating on creating a business that can flourish without them.
And you don't need to spend a fortune to get yourself a great mentor... one of my all time fave's are Mike Friesen (author of "Rich Dad" series) and Jim Collins (author of Bestseller... "Lights Out")
These guys are great teachers because they get you working in their business day in day out, not just a one time course where you leave feeling like you've got it all under control.
5. Your passion - what really drives you to become a successful entrepreneur.
I want to tell you about a friend of mine who wanted to be an entrepreneur so bad that he would do anything to achieve that dream. And you know what, he's become one... as well as many other entrepreneurs we know. So his passion is real, it's not just something he creates to earn some extra cash.
There should be something you absolutely love and then there should be something that drives you to become an entrepreneur. Like wanting to do something that is beneficial to everyone and something that gives you a rush just thinking about it, getting you excited and ready to take on the world.
That way you'll get through the first 5 steps easily and then you'll be able to focus on achieving your dreams in the third step.
Now get going and create your business today!
Accepting risk is a part of being an effective entrepreneur, and it is one that is hard to square with the idea that business success is all about making the right decisions. Let’s acknowledge here and now that even beginning to run your own business is an endeavour that is wrapped up with risk. You are putting money on the line with no guarantee of success - because that can’t be guaranteed - and hoping that you won’t be one of the 60% of businesses that fail in their first three years.
It’s tempting to think that you won’t be one of those businesses, because you won’t make the mistakes they did. When you face a problem, or a fork in the road, you will simply apply intelligence and make the right decision. This is a comforting thought, and intelligence is certainly a vital part of doing business the right way, but is it foolproof? Let’s look at some home truths about business that tell us what we need to know about how - and even whether - you can think your way to business success.
Intelligence isn’t just about what you know
If business success was simply a matter of knowing things, then - naming no names here - some of the richest people in the world would never have passed the first hurdle. An important part of achieving business success is not assuming that the world will behave in the way you expect it to. We’ve just spent more than a year in a pandemic having a crash course in the concept of “unforeseen circumstances”, but some people don’t yet realise that not only does the world not act according to rules, it also doesn’t always react in the way you would expect. What you know is less important than how quickly you adjust to new realities.
It’s not about what should work, it’s about what does work
To make the analogy of business as sport, we can all think of teams or professionals who play the game in a beautiful way. Exciting to watch, constantly innovating, and usually losing in the long run to teams and players who are less beguiling to watch but more efficient. If your goal is business success, you will need to be more like the latter. This means that evaluating your strategy isn’t about reading and digesting the works of Sun Tzu (or even Vince Lombardi); it’s about knowing how to set OKRs and achieve those targets. If you’re producing a healthy balance sheet, by all means you can quote all the great philosophers you want to - but don’t assume that the latter will necessarily beget the former.
You can never completely eliminate risk
Some people hold the impression that business is a series of binary decisions, and if you just pick the right choice at each interval, you’ll eliminate the threat of things going wrong. Unfortunately, you can’t avoid risk in business by leaning away from it. Nor can you face it head-on and make it submit - you simply need to accept that it is there and work on ways to minimise it; repeat the things that are working until they stop working, and avoid the things that never worked to begin with. Perhaps most importantly, you should be looking to get far enough ahead of the curve that you can afford a few mistakes - because mistakes will happen, no matter how much planning you do.
Success in business isn’t just about having the master strategy; a lot of it comes down to adaptability, humility and - in some cases - sheer good luck. It’s useful to know a lot, and to think a lot, but sometimes just recognising you can’t know everything is even more important.
A lot of people dream about the concept of being able to go self-employed. After all, it means that they have the freedom as well as the autonomy to be able to work on their very own terms. The growth of the sector alone has been very well publicised over the years and this means that there has bever been a better time for you to take the plunge. If you want to make sure that going self-employed is the right decision for you then you can find out whatever you need to know, right here.
You Know your Product or Service
If you want to go self-employed then you don’t need to have a final or even a polished proposition. You do however need to make sure that you know your product or your service. If you don’t then you may find that you struggle to know whether or not your idea is feasible. You also need to make sure that your product solves a definite pain point, so that you are aware of how best to address your customers.
You’re Ready and Willing
Even though you may be an expert in your field, that doesn’t mean that you can easily deal with all of the other aspects that are involved with running a business. If you want to come out a success then you need to make sure that you are able to deal with your sales, marketing accounts, technology and even legal team. The main problem with being self-employed is that you might not be an expert at everything and you probably can’t afford to outsource either. This is normal, but it does mean that you need to get your head around the basics if possible. If you want to get the best result out of your self-employed experience then eventually it may help you to look into remote onboarding at a later date.
You Want Control
If you are at a point where you feel like your ideas are just not getting the appreciation that they should, then this may indicate that now is the time for you to go self-employed. It may be that you no longer want to be told what to do, or that you just want to be more rewarded for the work that you are putting in. Either way, going self-employed gives you the chance to call all of the shots you need.
You’re Ready to Talk about Money
You have to be comfortable with money if you want to be self-employed. Undercharging is a huge issue for freelancers so you need to make sure that you pitch your services and your products at the right time. Some signs that you need to think about your charges include if your tasks are taking longer than they should be to get done, or if you find that you are continually trying to undercut your competition. It will take some trial and error, but if you take your time then you should be able to set the right prices.
The pandemic has hit millions of businesses around the world, causing them to make major cuts in employment, budget, and for some, permanent closure. If your small business has managed to make it this far, then you’re probably looking for ways to work smarter, decrease expenditure, and appeal to your target audience more than ever. Thankfully, even though the pandemic is still at large, many restrictions are being lifted, which is allowing businesses to continue trading. However, staying smart and vigilant is essential to help your business stay on track. Here are some amazing tips on how to work smarter during the pandemic.
Cutting back costs in 2020 might have been a priority for your business, and if you had to cut back on marketing costs and begin tackling it yourself, you’ll know how much time and effort it takes. However, you can have the best of both worlds! While a permanent in-house marketing team would be ideal, if your budget doesn’t stretch that far then you may run into issues. Outsourcing marketing allows you to let an experienced professional create and run your marketing campaigns - but only as and when you need them! Paying a freelancer say, once a month, rather than for every day of the month will save you money and prevent your marketing from falling down the drain.
Look bigger than you are
One of the downsides of being a small business is that quite often, customers would rather entrust their money with larger businesses because they think larger businesses are more trustworthy. While this isn’t necessarily the case, making your business look like a larger corporation may help you attract more customers. You can do this by:
Sell COVID-friendly products or services
Finally, we’re living in an age where anything to help survive the pandemic is something people will want. Find ways to incorporate COVID-friendly products or services into your niche. Whether it’s a branded face-mask, an app to help cure boredom, or even hacks to help stay safe, people will be interested in buying from a company they know and love. Appeal to the COVID market and you’ll notice a considerable improvement in sales!
If you want to survive and help your business to grow, then you need to make sure that you have a steady stream of business clients. In the old days, this was a case of you simply sending out a flyer or even a postcard. You might have even been able to put your ad in a local paper, but right now, things work very differently. You have to make sure that you adapt to what is around you and you also need to make sure that you are willing to figure out the best way to really get your business on the map. If you don’t then you may find that you end up struggling to get noticed and this is the last thing that you need.
Verify Google Business
If you are running a B2B business, then you have to make sure that you are as professional as the companies you are marketing to. Your Google Business Profile is what gives your business the opportunity to show up in search results. It also shows up when someone types in your company name on the internet. Google is getting better at catering to users all the time and this free listing should always be your top priority. Ideally, you would use your business profile to promote your company, not to mention that it also helps to verify legitimacy. You can do this through your very own Google My Business account. When you are able to verify ownership of your company, you can then optimise your listing. This will help you to show up much higher in the search results and it will give you access to much more advertising options. If you are able to show on Google Maps, then this will help you to really make the most out of your local SEO efforts.
Print Leaflets and Flyers
You may think that this is a very outdated way for you to do business, but this is not the case at all. In fact, printing leaflets and flyers is actually a fantastic way for you to make the most out of your marketing campaign, if you combine it with your other efforts. If you are going down the flyer route then you have to make sure that you incorporate your website and you also need to make sure that you add plenty of digital information. This could include your social media handle, for example. If you want to make the most out of your marketing, then it would be wise for you to use large format printing machines.
It’s one thing for you to promote your company, but it is another for Google to promote your company. SEO will ultimately determine your ranking algorithm, so you have to make sure that you put in the work to boost your ranking. If you want to boost your SEO, then you need to add relevant keywords that are based on your location as well as your industry. You also need to make sure that you add them to specific places on your site too. At the end of the day, if you can produce high-quality content with tagged images then this will help you out in the long run and it will also help you to maintain a solid site that brings in business for years to come.
We all want to work less and earn more, don’t we? It’s the dream, the final step towards that ever-elusive ‘work/life balance.’ And yet, until now, most of us have assumed that it’s a myth. After all, you get out what you put in – everyone knows that!
Unless maybe you don’t. According to recent reports, US workers who put in as many as 60 hours each week were less likely than their peers to have received a bonus in the last three years.
Far from being an injustice, this is clear evidence that you don’t have to work yourself into the ground to get ahead. In fact, doing so could be hindering your earnings, and here’s why.
A focus on quantity not quality
When we push ourselves too far to be productive, we fall into a focus on quantity rather than quality. After all, a sixty-hour workweek might sound impressive, but there’s no way you can produce good work for that length of time. Rather, you’re liable to work like a sleep-deprived zombie trudging towards a deadline. And, your efforts will be as flat as your pulse!
By comparison, employees who stick to the forty-hour standard may well come in and boss it on the quality front, meaning that their shorter timeframe is worth more than your long one. Which begs the question, why would you bother to work more in the first place?
An inability to hand over responsibility
If you’re too focused on being the hardest working, then you’re more likely to take everything on your shoulders. This may seem like a valiant effort, but martyrdom is never good. If you’re juggling product development on top of lead generation, you’re more liable to wear yourself down and drop both balls.
By comparison, outsourcing allows you to hone your time, and clock off at a decent hour. All with the promise of better results. After all, outsourcing managed IT means that you can get cybersecurity right at last while turning to a lead generation company ensures that time you spend converting is time well spent. Far from a failure, accepting that you can’t do it all is fundamental to making the most possible money from your time.
Failure to see straight
It’s also worth noting that, the more you work, the less you can see simple solutions to challenges. And, when this happens, you spend more time developing less satisfactory responses.
Switching your brain off sometimes is the ideal way to solve production dilemmas or close leads at last. Much like when we’re falling asleep, our brains often find answers to these things themselves when left to their devices. By comparison, hunching over a desk and considering things for too long will make it trickier for you to reach satisfactory conclusions, as well as taking ever more of that precious time.
So, you see, it may sound impressive when you state you’ve worked a sixty-hour week, but is it really the right way to earn more? Probably not.
Starting up a business is no easy feat. Expect financial loss, energy exertion, and heavy competition. With that said, it is important to start your business with the best possible chances. These simple steps will guide you towards developing a successful start-up.
1. Consider the market you are going into
Think about any market niche your business applies to. Gaps in the market will generate higher consumer demand, which you can capitalize on. Familiarize yourself with competitors and find out what they are doing, and more importantly, what they are not doing. Carrying out competitive analysis is crucial if you want your business to succeed.
2. Devise a business model
Businesses come in all shapes and sizes. You may aspire to one day expand your start-up into a franchise. You may want to offer a subscription-based service to maintain loyal customers. Or, perhaps you are going for a direct sales business model. Whatever the case, modeling your business will fortify your vision and assist with potential problems. The nine building blocks of a business model are customer segments, key resources, value propositions, client channels, key partners, customer relationships, revenue streams, activities that create value, and cost structure.
3. Consider your employees
Once you have established your business model, think about what kind of working environment it will create for employees and how you can implement systems to benefit them and improve efficiency. For example, if you have lone workers or employees that perform paging and alarm management, Motorola radio rental offers specialized two-way systems and communication solutions.
4. Work on your final product
Many start-ups' common downfall is assuming they can offer a wide range of products from the outset. Doing this will deplete the limited resources you have. Instead, pick one or two products you can perfect. New customers will appreciate your service quality and be inclined to positively review, repeat purchase, and recommend to a friend.
5. Gather customer feedback
After launching your business and getting those initial sales, it is important to review your customer feedback. Positive or negative, it will demonstrate where to alter your business. If the reviews are mostly positive, look specifically at what worked well. Recurring themes in feedback signify consumer habits. Analyzing this data may reveal opportunities for expansion within that area.
6. Carry out market surveys
If you are trying out a new product or service, it is a good idea to collect data from your targeted audience before launching anything. You can do this through online questionnaires like Survey Monkey. You could put the question to online forums. Or, you could organize a focus group. Each method has its benefits. Online surveys and forums can target a wider demographic, while focus groups may offer more in-depth feedback on a product or its branding.
It's a given that start-ups need a fair amount of initial planning. But with savvy preparation and research, there is the opportunity to succeed. Remember: start small, think big.
Many people dream of starting their own business, they want to work for themselves, they have a great idea that they know people would use or want and they want to make loads of money for themselves without having to give it to someone else. If you’re one of these people who dream of starting your own business, then what is it that is stopping you?
The answer is nothing, and while you might be able to think up plenty of excuses to keep putting it off, in reality, the only thing that is stopping you from achieving your dream is you. If this year has taught us anything it is that life is short and you never know what is around the corner. Who could have predicted that 2020 would be spent mostly in lockdown, social distancing, unable to travel and in fear of a failing economy? It sounds like a disastrous time to start a business but in fact, this pandemic is not an excuse and is as good a time as any to start your business.
You have the time
One of the biggest reasons people give for not following their dreams or one of the things that people complain they never have enough of is time. But this pandemic has given us time. Whether you have been laid off, furloughed, working from home or carrying on your job as normal, it has still meant that there has been less to do and far more time spent in the house. While it looks like there is the hope of a vaccine now, it doesn’t mean the pandemic is over so if there are more lockdowns then perhaps it's time to use them wisely to work on your business.
You have the resources
The other thing available right now is a talent as well as other businesses who need work. For example, there are small business owners who could help you out, from electricians to logistics consultants, there are people ready and waiting to get their teeth stuck into something good and help you get your business off the ground. There are also so many talented people who have lost their jobs and are looking for work and could be an asset to your business.
There is a demand
While the world has changed significantly and some things are no longer as important as they once were, on the other hand, there are things such as face masks, PPE, virtual meetings and deliveries which have never been so popular. If your business can help to meet the demand that the pandemic has caused then it's the perfect time to start.
You can adapt
The great thing about starting your business now is that you can adapt to the new world straight away. You won’t need to make changes as you can have the restrictions and guidelines in place from the off. Your business can be something that doesn't just exist in a post-covid world but can thrive and help people adapt to a new way of living.
We all take pleasure when our ideas come to fruition. We’re even more pleased when the ideas have an impact by improving motivation, innovation or productivity, among other areas. The spread of an idea can benefit many, but that popularity can also alter and distort the original. You can read more over at Entrepreneur Europe...
In an age where we have unlimited access to pretty much everything you can imagine, it’s easy to become tempted to learn as much as possible.
Maybe you feel as though becoming an expert in many fields will benefit your career or business prospects? And in some ways, you’re not wrong to think that- having knowledge in several areas will set you aside from the crowd as well as giving you the personal gratification of learning something new.
However, there are several reasons why it’s often good, and not self-limiting to become a hyper specialist.
Here are some of them..
You get to become an expert in your field
One of the best reasons to focus on one or two areas of expertise is that the more you invest in your knowledge the better.
Imagine if an athlete decided that they wanted to spread themselves across more areas of the athletics industry. They decided they want to train, coach, advertise sporting events, and run the ticket desk, too. While all of these things are jobs that are related to the athletics field, the more this athlete does that will take them away from their training and participation in events, the less time and energy they have to focus on the things that set them apart from the others.
It’s the same if you’re in marketing. You decide you also want to try your hand at the web design, content writing, accounts, and sales as well. You’ll be spreading yourself too thinly and potentially missing out on some key aspects of the ever-evolving world of marketing. Staying focused on this one area will mean you get to invest all of your energy in becoming the best.
You can offer something unique
Imagine you’re at a restaurant and the server gives you a 10 page menu to choose your meal from. Not only are you more likely to end up plagued by indecision, but the choice you make may not result in the best quality meal for your time and money. It’s the same in business. If you offer too much, you’re not going to offer the best quality out there.
However, if you head to the sandwich bar three doors down the road who offer one meat, one vegetarian, and one fish option with only three kinds of bread, you know that you’re going to get something a bit more special. This expert specialism is what keeps people coming back. Sure, not everybody wants a sandwich all the time, but when they do, they’ll know exactly where to go.
It can get even more specific than that, even. Medifit Design and Construct are a great example of a business that takes something that people look for (design agency) with a specialism (for healthcare practices). People looking for those particular services may be able to find a company that will do a good job designing their medical practice, but perhaps none as good as one that will be able to deliver the same attention to detail as a specialist company.
This is why becoming hyper specialist isn’t limiting.
Starting your new business is a journey that will take you through many ups and downs. That said, it is exciting and one which is extremely rewarding. Plus, many people say working for themselves is the best thing they have ever done. When starting your business, there are many things to consider: branding, finances to websites, and funding. Below is an overview of a few things you should consider when starting your own business.
Creating your website
Will you be making your website yourself or hire a professional to make one for you? Depending on your requirements, a website will help bring in new customers to your business and allow you to appeal to them in a different way. Before starting your website, make sure you put a plan together of what you will need on it and the type of website it will be, whether eCommerce, or a brochure-like site.
When running your business, it is important to stay on top of your finances. Using an account package, you will be able to track how you are doing instantly through a click of a button. Not only that, but you will also be able to send invoices and keep an eye on your expenses. By using digital accounting, you can easily allow your accountant access to your books without having to visit them in person. This will enable them to log in and see how you are performing without leaving their office to meet you; it can all be done over a phone call.
How will you brand yourself?
Logos, brand colors, and marketing materials should all be thought about before launching your company. Your logo is important, as everyone will see first and give them the first impression of your business. Done cheaply, it can be detrimental to your brand. Brand colors can portray a lot about you; if you are a luxury brand, you may want more gold’s and silvers used instead of bright funky colors. By hiring a graphic designer, they can help you with all of this.
Testing your idea in the real world
If your idea is completely new, how do you know it will work? Before investing heavily in your idea, it’s worth creating some prototypes and seeing how people respond to it. This is a great way to get actual feedback and to get other people’s opinions. Take note of what people are saying is you can use this to develop your idea and make it even better.
Will you need investment?
Will your business plan require you to need significant investment, or can you gradually grow your business? If you need investment, have you considered how you are going to raise funds? Make sure you do your research and put together a solid business plan to explain each step of your journey and how the money will be spent. Angel investors, bank loans, competitions, friends, and family, there are many ways for you to pitch and bring in some funding for your idea.
If you want to save up money prior to starting your own business, then looking at diversifying your income can help you build up a pot to get you up and running. You can get a lodger licence template and rent out a spare room, you can create a side hustle that allows you to save up to have funding available and gain experience in running a company, or you can sell off items you own. Knowing where the money is coming from is vital.
Financial uncertainty has prompted many to start thinking about a Plan B to help supplement their existing income, while others have spent lockdown pondering whether the career they thought they wanted is right for their long-term future. Entrepreneur Europe caught up with one CEO to find out how she runs her business in 3 hours at night!
Running a business from home certainly has its advantages but without the credibility that larger businesses possess, it can sometimes be difficult to get taken seriously.
Still, this doesn't mean a home business owner can't find success, and this doesn't mean the business won't have the capacity to grow. Just look at Steve Jobs and Jeff Bezos, for example, two entrepreneurial luminaries who eventually grew out of their homes and into (for want of better words) the big leagues!
So, if you're working from home, in whatever capacity, here are some tips to help you get taken seriously. You might then experience the growth that those now running multi-million companies have attained or, at the very least, make yourself a tidy income from whatever type of business you are running.
#1: Benefit from a virtual office address
If you are using your home address on your mailouts, your clients and customers might fail to take you seriously. Especially if you are trying to convey a professional image, it will be a direct giveaway that you are probably working from home in your pj's. This is where a virtual address comes in handy as it can give the impression that your business is bigger than it actually is. You can also benefit from a telephone answering service with the services of a virtual office provider, and again, this will do much to convey a more professional image. Follow the previous link for one example, and consider the benefits for you.
#2: Be careful with your video calls
If you're speaking to clients through Skype or any other type of video communication tech, be sure to dress well before making a call. While working from home can give you the opportunity to wear your pj's or slacks, your dress sense will reflect poorly on your image. Dress smartly then, and consider wearing a suit for those you are really trying to impress.
Be sure to make your calls in your home office too. This is far more professional than chatting with your clients in your living room, and it can also convey the image that you're not working from your home. We have some tips on designing a successful home office, so have a read of our article.
And finally, take note of this BBC news interview that was conducted with one esteemed professional. If you want your clients to take you seriously, be sure not to let your children interrupt you when you're having a serious business conversation!
#3: Brush up your brand image
Enlist the help of the professionals if you need help with this regard. A web designer will give you a professional-looking website, a photographer will give you the quality photos you need for your website and other promotional materials, and a copywriter will provide with you the written content you need to give that excellent first impression.
Be sure to ask your customers and clients for testimonials for your website, and ask them to leave reviews on business review sites as well. And have a separate social media account for your home business because your personal account just won't do if you want to be taken seriously, especially if some of the content is for friends eyes only!
By taking these steps, you will improve your brand image and improve your credibility.
We wish you every success with your home business!
If you are in a position where you are starting to think about working from home, that is a great opportunity that you are going to want to make the most of. It could be that you have started a business which you will run from home, or that you are trying to work from home more as a result of covid. Whatever it is, part of the process is going to be designing and building a home office which you can use and which you are likely to enjoy. Let’s take a look at what might be involved in that process.
Find Your Spot
First up, you need to find the spot in the home where you are going to have your office. Ideally, this will be somewhere that you don’t use for anything else. If you have a spare room, a basement, or even a garden shed, any of those could be ideal for a home office. It should be somewhere away from the general hubbub of the home, and where you are not going to be disturbed - or disturb anyone else in the home either. It also needs to be of a decent size, so that you can comfortably work there.
Build A Desk
Chances are, you are going to want a desk to work at. You can build one yourself easily enough. Anyone with even a basic understanding of woodworking can achieve this, and it is one of the easier projects you can hope to complete. Or you might decide that you want to get hold of one premade and simply install it, which can work just as well. In either case, you will then want to make sure that it is ready to work at, which might include fitting out electrics like a mains neon indicator, ensuring that everything is in its right place, and so on.
Although it might not be completely necessary, there is something wonderful about decorating the home office. It helps to make it a more enjoyable place to work, and it generally means that you are going to have a much better time of making the most of that spot. You can of course decorate it however you wish, but it might be worth bearing in mind just how different colours affect your productivity. Do your research on this and you should find that you can make the right decision.
Stock It Up
Finally, you now need to stock up your home office with everything that you will need to do your job well. As long as you have a place for everything, it is going to be much more the kind of place you hope to work, and you should find that it makes a huge difference to how the office feels to work in. All in all, building your own home office is simple enough, so consider doing it if you are thinking about working from home or starting a business to run from home as soon as possible.
Author - chris
Author, Editor, Creator of this website.