Motivations

Why You Should Write Down Your Motivations

Running a small business is full of challenges and opportunities.  People that decide to start a new business do so for different reasons, but it is important to know why you do it.  For example, one of my motivations for starting my own law practice was to be able to manage my own schedule and truly help people in a way that was unique to me and my personality. People are motivated by money, opportunities, passion, problem-solving, etc.  When we have something that really drives us and motivates us to improve, it is important to keep that drive when the challenges arise in our business.  On of the easiest ways to stay focused on our motivations is to write them down. When we write something down, it make it feel real and tangible.  It gives us something to see and…

Category : Entrepreneur

Brick And Mortar Stores Vs. Virtual Stores

We live in an age where new technology is constantly supplanting old ways of doing things. This phenomenon has had a largely positive impact on commerce, increasing efficiency and aiding the spread of new information and products. But it has also complicated the choices available to those who are starting a business for the first time. Many new business owners are wondering: “Is having a traditional brick and mortar store worth the trouble?” To provide some context, and make the decision-making process a bit less agonizing, here are some of the pros and cons of tangible brick institutions versus virtual business models. Brick and Mortar Stores: The Pros and Cons Pros: Humans are material beings. Prior to purchasing, many consumers like to be able to physically touch and inspect whatever it is their buying. For a certain set of people,…

Category : Entrepreneur

Starting Your Own Freelancing Business – What You Should Know

Owning and operating a small business is exciting, stressful and fun. However, there are many things to keep in mind and constantly consider. Small businesses have tremendously changed over the past decade and especially over the past few years. As the internet evolves, people are changing their ways of doing business and making money. You no longer need to open up a business, or work for a corporation to earn a steady income. The internet has allowed average people to take their skills, turn them into services, and get clients. Creating a Name You may be wondering whether or not you should personalize your business name or not. For example, if your last name was Smith, should your business be named “Smith’s Writing Services”? Creating a business name is one of the most exciting things you get to do. Think…

How Vagueness Can Hurt Your Online Business

Any time you become convinced you have to try a new product, it’s because you got excited about the results it offered. Think of the infomercials on television showing how a product is used, how it compares to the competition and the convincing user testimonials. All these things build up your expectation for your own results. Then there are some commercials that are so vague, you have no idea what the company sells, life pharmaceutical commercials. If you’re creating a new online business, you need to be able to clearly define what your unique product or service promises. Vague, mysterious and fanciful wording won’t deliver that message. If people can’t visualize how your product or service is better or offers some type of benefit, it will be difficult to draw people in. Example 1 An organization was formed to offer…

Category : Entrepreneur

Ingredients For Cooking Up Your Homemade Business

Could 2013 be the year of the entrepreneur? It certainly seems like it could be! The sound of a home based business to many is of pure perfection, especially when they consider the perks that come with one. The biggest is of course that you are at home and are always close to your family, yet other big perks include being able to work on your very own schedule and there is of course the savings you can make on everything from travel expenses to  buying food on your lunch break. A small business can turn into a large one with hard work and the correct planning; however some people do like to keep them small. So whether you are planning world domination with an offshore company formation set up or just looking to do something you love, it has…

When A Business Starts Over Online

Right now, I’m helping a business get through a difficult transition. They operated as a branch of a larger business and the CEO decided that they could not afford to maintain this branch of the business. Rather than close the doors, the manager decided to take over the lease and continue the business under a new business name. This meant splitting up the contact list, filing for a new business name, new signage and a new domain name. They are starting from scratch and must begin from the bottom to establish an online presence. For most this would seem dreadful, but starting from scratch does provide the opportunity to fix the things that were done wrong on the original site. Here’s how the new one will benefit from the change: Better Domain Name The original domain name targeted a very…

Category : Entrepreneur
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Ways In Which Companies Are Streamlining Business

Time is money.  It may be cliché, but in the world of business, this will always be true.  With technology making communication as quick as it can, anyone who doesn’t use it to their advantage is not maximizing their own potential.  Different industries use advancements in technology in different ways, so whether you are an ad agency using virtual screening rooms to show your client the latest version of a commercial, a medical facility using EHR to keep records digitally, or a customer service center using private online chat rooms to help customers in need, streamlining your business is a great way to stay ahead of the competition. Ad Agencies Are Using Online Screening Rooms In the old world of advertising, the process of editing a spot meant spending long times in the edit studio for just about everyone involved. …

Turning A Great Idea Into A Multimillion Dollar Company

Everyone has a dream.  Many of the world’s greatest inventions of the past and present have started out as simply an idea. When an inventor comes up with their idea, there is no guarantee it will always work. However, as the saying goes, you won’t know unless you try.  Some products or industry ideas need to be reconfigured multiple times before they successfully launch. Others take off the very first time. Persistence and a hard work ethic are crucial for anyone looking to introduce a new version of an existing product or a brand new product all together. It is possible for a dream to turn into a multimillion dollar, multinational company. General Electric One of the oldest American companies to have a global impact is General Electric. The company was originally formed in 1892 when Edison General Electric Company…

Making Your Business Successful In 2013

If you found that 2012 was a difficult year for your business, then you may well be determined to ensure that this year is that bit better. Despite the tough economic conditions, plenty of small business owners are reporting that they are already seeing some good results this year. That’s excellent news, as it shows that there is certainly scope for you to be successful too. There are plenty of people out there with negative mindsets, but my own feeling is that positivity pays. It tends to lead to better results and can actually increase income levels too. Part of being positive about the future involves planning for success, rather than expecting to encounter problems and failure. If you are feeling a little down about past performance levels, then it’s important that you should put such negativity to one side….

Opening An Online Jewelry Business The Right Way

Opening an online jewelry business is easy, almost too easy, with services that offer the creation of websites and the option for conducting e-commerce in less than one day. However, while it’s easy to open them, maintaining them, gaining a reputation and actually making a living by operating them is an entirely different story. Many beginners make the mistake of opening a new online jewelry business without doing enough research and without understanding the importance of deciding about clear policies and customer service guidelines in advance. As someone who can humbly claim some level of success in the online jewelry business, I would like to share some of the personal guidelines that I’ve maintained over the years and that helped the growth and success of my business. Start Small and Experiment Till you get it Right Don’t invest a lot…

3 New Business Trends In 2013

As the world is constantly changing, so are business trends. Many factors influence business trends for any given year. New technologies and innovations may make certain products obsolete or put more emphasis on specific features. Changes in the economy may force employees the reshape their views of how they can work and provide for their families. World events may even call for a new type of product or service. However business may change in any given year, the success of a company largely depends on its ability to adapt and take advantage of these trends. Here are three trends to watch out for in 2013 Freelancing Because the United States economy is currently in a recession more and more people are unemployed. As a result, they are looking for other ways to make money. The common 9-5 job is slowly…

Becoming Self-Employed: Making The Jump To Being Your Own Boss

Making the dream a reality Many people dream about what life would be like if we didn’t have to work for someone else. And while it’s a nice thing to dream about, I’m fairly sure that for many the idea of being self-employed is a realistic one in terms of what’s involved. We all know that business owners really put a lot of time in to what they do, and have a very important and serious commitment to their job. So while it’s a great thing to consider dream, it’s also not something that many of us would imagine is going to be a breeze! But how do we make the dream a reality? The most important thing of course is to have a very definite idea of what you’d like to do. Then it’s a matter of researching the…

Small Business Health: Tips For Managing Inventory

There are a lot of moving parts when it comes to successfully running a small business; properly evaluating your inventory needs is a huge piece of that puzzle. Not having enough of what you need costs you customers; having more items than you need can eat up working capital and put a serious crunch on cash flow. Here are some inventory management tips that can help boost your bottom line. Avoiding Inventory Overload If you do not carefully track the process from receiving items to getting them into the hands of customers, you may be putting a serious dent in cash flow by ordering stuff when you do not really need  it yet. You may also be overstocking certain items that are not selling as well as you perceive them to be. Carefully studying past sales patterns can help you…

3 Ways Small Businesses Can Make More Money

The United States plays host to all sorts of different small businesses, which provide a wide variety of different services and products. That said, whether it’s big or small, every single company seeks to accomplish the same goal: increase profits by carefully managing overhead and expanding its pool of customers. Unfortunately, every day countless American businesses owners make mistakes that get in the way of their overall mission. If you own a business, learn three ways your company can make more money by eliminating waste. Focus on Employee Management The lifeblood of any strong enterprise, employees are valuable resources which play a big role in determining whether a company will profit or fail. Unfortunately, when they aren’t managed correctly, employees can be like anchors which pull a business down and preventing it from succeeding. If you want a profitable small…

Starting A Family Owned Business

Today, family owned businesses are becoming more and more popular, and many people have been choosing to support these smaller businesses. A lot of parents choose to start a business in the hopes of passing the business onto their children to become successful. Ideally, the business will stay in the family for generations to come, creating a profitable and comfortable life for all of those involved. Large, successful businesses such as Seament, started by Alexander F Bouri, are family-run, and what started off as a small company has turned into a large, international company. Such success stories are what drive families to begin their own business, which can be an exciting and rewarding experience for the whole family. What are some of the benefits of creating a family owned business? Family owned businesses cost much less to run than hiring…

Obtaining ISO Accreditation

Before finding out why so many business owners struggle to obtain ISO accreditation, it’s essential to understand what ISO actually is. ISO stands for International Organization for Standardization that issues international management standards. ISO standards are divided into ISO 9000, ISO 9001, ISO 14000, ISO 17025, ISO 22000 and many others. Providing specifications for services, products and good practice, these standards make industries more efficient. The role of ISO accreditation is to prove that a business complies with certain ISO standards. To become ISO accredited, your business needs to pass a physical certification audit performed by a registrar. If you wonder why getting ISO accreditation is so important, you should know that ISO certification comes along with numerous benefits, such as: Increased Customer Satisfaction: ISO accreditation confirms that whatever you produce works as your customers expect. This means that you’ll…

Leading Through Uncertainty – How Executive Coaches Can Help

Stressful situations make ordinary leadership tasks more difficult. In an economic downturn, employees look to their employers to ensure that their jobs, salaries, and benefits are secured. Even if the results are less than optimal, employees want to be certain about their futures. Unfortunately, difficult decisions may take weeks or months to be finalized, which can cause employees to worry. Leading a troubled workforce through times of uncertainty requires a careful and measured approach. Executive coaches can help managers and executives prevent uncertainty from cascading into a full-blown crisis. Specific Skills Training Ensuring organizational efficiency in times of uncertainty requires sophisticated interpersonal skills. Among other skills, projecting an air of confidence is important. If the uncertainty is nothing to worry about or if the extent of the uncertainty can be downplayed, employees will be more likely to accept the ongoing…

How Contract Logistics Can Improve Your Business

How Contract Logistics Can Improve Your Business In business, distributions can take up a larger portion of the supply chain expenses if not well maintained. Smooth, fast and efficient distribution capability can mark your business out from all the others and should be seen as an important part of the way your promote and market your brand. In some cases, distribution is the core competency for a business but for most, logistics are only one aspect of the company’s operations. For this reason, it is worth considering whether contract logistics might be something that could help your business focus its energies where it needs them most. Securing a good logistics contract can introduce a good deal more flexibility and economy to a business’ supply chain. This in turn can lead to an increase in revenue, improvements in sustainable outgrowth, proactive risk…

Four Great Ways To Boost Work Productivity

Work productivity is sometimes a difficult thing to achieve but is incredibly important when it comes to getting what you need done at work, and essentially for your success. There are many articles out there offering tips on how to improve productivity at work which have valid points but in this interesting and informative article we look at some different tips relating to increasing work productivity that really works. How To Improve Work Productivity Passion This is one of the most important tips when it comes to productivity at work. This is one of the tips that you cannot simply learn,  to be passionate about what you do, needs to come naturally. Passion is one of the best ways to keep you productive. Passion will be the strongest driving force pushing you to be motivated and productive. If you are…

5 Of The Most Unique Ideas In The Business World

Becoming an entrepreneur requires a certain amount of thinking outside of the box and that has certainly been displayed by the people who came up with the ideas in this list. Starting a business is a tricky thing to accomplish and some people say that you have to be born with the inherent ability to succeed in such a dog eat dog environment. However, creative thinking is a powerful thing and whether you are born with it or not; the ability to display it is sure to put you in great stead to become a successful entrepreneur. So what are some of the most innovative business ideas out there at the moment? You may have already heard of some of these but there is no doubt that the lateral thinking involved in their creation will soon have them firmly on…

5 Creative Ideas For Building A Family Fun Restaurant

When it comes to having kids, everything in life changes. You suddenly have to consider the children whenever you go out. As a business owner, opening a family fun restaurant can take a lot of the worry off the parents’ shoulders and prove to be a lucrative business venture for you. How do you create such an environment? Here are some great ideas to start with. Include an Arcade While the idea of building an arcade within your restaurant may sound like an expensive thing to do, kids will be greatly entertained, and this can bring in a lot of cash through those machines as the kids beg for more. Also, you can find lots of arcade machines for sale online, both new and used, saving you a great deal on the initial cost. Add a Play Place What do…

David, Goliath, And Your Small Business: How To Compete With The Big Guys

It’s every small business owner’s dream to one day develop and expand their business to defeat the big conglomerates that have ruled the economy and market share for years. Not only do you want to bring great service to your customers, provide them with the best products, and maybe even churn a profit or two, but you also want to make sure the world knows that your homemade, grassroots, small business is bigger and better than the competition. Yep, I think that pretty much has it covered. Unfortunately, most small business owners only have a few resources and a limited budget. Hardly the materials required to beat out the big box companies with the wide reach and deep pockets. Or is it? Can your small business muster the strength to fight off the Walmarts, Best Buys, and Fords of this…

4 Reasons Your Corporation Might Not Be Protecting You

Every business owner hears it.  You have to incorporate in order to be able to protect your personal assets from business liability.  Often, though, many small business owners do not actually take the time to research and investigate what it means to be a corporation and what the requirements are to have your business operate as a corporation and receive that liability protection.  Here are 4 common things that small business owners are doing that may place the treatment of their business as a corporation in jeopardy: 1) Failure to Properly Organize the Corporation This is probably the most common mistake that I have seen small business owners make.  Especially in a state like Florida.  Many small business owners either file their information with the state themselves or use a service like LegalZoom to do the filing for them.  What…