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Business Tips that Won’t Fail

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Do you ever feel like some of the tips that you get for your business are just dead ends? Are you always in search of that golden ticket that’s going to help you more than any other suggestion ever has? Well, you’ve come to the right place, because we’ve not just got one for you, we’ve got a few! We know that your business is going to be your pride and joy, whether you’ve set it up yet or not. When you have that vision, achieving anything less is just going to be a kick in the teeth, which is why we want to impart some wisdom onto you today. We’re not promising that these business tips will work miracles, but they definitely won’t fail in their quest to make your business better than it ever has been before. So, without further ado, here are four business tips that we think really won’t fail!


 
Research On Top Of Research

Knowledge doesn’t lie, and your lack of it definitely does show. The more you know, the more equipped you are to deal with situations, and that applies with anything in life. Research on top of research sounds extensive, and it is. But when it comes to business, there’s no end to the knowledge that you can consume about different areas. About how to improve processes, manage money, deal with customers, new business techniques… the list could go on. Your best bet is by looking at established business blogs, such as the Novel Coworking Blog. Blogs like this are packed full of information about running a business, the do’s and don’ts, and how it can be made better. But we will say that some blogs are full of bogus information. You could be reading something completely unrelated to your business, or any business for that matter, so always make sure that you’re reading well established business blogs, not ones that look as though they’re full of a bit of spam. You can also use business journals from Google to help you out. They’re full of knowledgeable information published by business professionals that can actually be trusted!

Careful Financial Planning

Careful planning is always essential when it comes to the finances of a business. You wouldn’t believe the amount of business owners that just don’t have the first clue when it comes to financial planning. They rely on the help of their accountant who will definitely be outsourced, possibly kept in house if they can find someone they trust to manage their books all of the time. Because managing a successful company’s books which has money flowing through at high rates is hard, and that’s why so many company owners drop the ball with it. Every decision that could possibly affect finances needs to be thought out. You also need to make sure you’re preparing for financial downfalls, rather than digging yourself into a whole. Huge company’s go into administration year on year because they aren’t managing their downfalls as much as they’re managing their financial rises. When downfalls occur, debts seems to loom, and a company can face a grave ending if it is not dealt with in the correct manner. Plenty of financial advice can be found on the internet for a company, but trying to get someone to manage your books in house is our top tip!

A Focus On Employees

A focus on employees is a business tip that definitely won’t fail. If you’re putting in your heart and soul onto your employees, you’re going to get more out of them than you could ever wish for. You will have dedication, determination, and above all, a working environment that even you can be proud of. Focus on a reward based system, and we know that your employees will come into the place of work with a mental attitude that’s driven towards success. Any who you know are struggling, find a way to actively train them and encourage them!

Solving Problems Before They Happen

A skill that every business person should have, but in reality they just might not do this. When a problem happens with a business, the chances of it being big enough to ruin it are actually quite big. So, we recommend that you put in backup plans on top of backup plans to ensure that you’re ready for every situation. That way, you won’t be surprised, and your business definitely won’t take a hit. Problems such as financial dips, bad press, products or services being beat by competition are all things you need to be accounting for!

Launching a Business? Here Are 5 Proven Business Models for You to Consider

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Do you already have a service in mind, or are you working on entrepreneurial spirit alone? Both are a great starting point from which you can build a lucrative business. But if you want to inspire investors and customers alike, you need a compelling business model that fits well with what you’re offering. Here are five potential models to choose from.

1. Offer personalization.

Tech and the internet have comfortably reassured consumers that they can easily get exactly what they need. Get your business in on the action with personalization. Customized, tailor-made, bespoke, exclusive – these are all words that can attract certain groups.

Essentially, we want options, and it’s even better when the customer feels like they invented that option. From clothing to home goods to software, allowing people to build their own product carries a lot of promise.

2. Join the sharing economy.

Is your business a viable platform that allows people to get together and exchange good and services? From Craigslist to Airbnb to Uber, it’s possible that your new venture will involve taking a step back and allowing the community at large to decide what they want, and who they want to buy it from.

Relative to other models, there’s little investment risk here. Just ensure there’s a real need for your type of platform, and that you have ironed out issues of liability beforehand.

3. Let a buyer name their price.

Before procuring funding from Unsecured Finance Australia, consider a model that makes buyers feel like they’re practically stealing from you; or at least, very satisfied with the deal they got. Known as a reverse auction, this model lets the buyer name their price or budget.

It won’t work for every business, but it could be profitable if you have a great deal of inventory you can let go for cheap, or if your business has a ton of competition.

4. Offer subscriptions.

One model that has absolutely exploded in popularity in the last several years would be subscription-based services. Here, consumers pay a reasonable weekly, monthly, or annual fee to continue doing business with you.

But it’s not all Netflix. This model translates well offline, as we see millions subscribing to receive beauty and personal care items, food, lifestyle goods, and even cars to drive for a limited period of time. A subscription business model is one you certainly need to consider for your company.

5. Integrate internet and in-store.

The major challenge many physical stores face is competing with online shopping. Fortunately, the “bricks and clicks” business model has helped keep many physical locations in operation.

When you spread your efforts between both bricks and clicks, you’re supplementing your foot traffic with online shoppers. You can allow local consumers to purchase something on your website to be picked up at your store nearby, or simply sell inventory online and ship it in addition to offering it in person.

There are many more models to choose from than the ones presented here. No matter which you choose for your business, bear in mind that your model can become as much a part of the story as the product or service itself. Therefore, you want yours to not only speak to the modern consumer, but the consumer of the future.

The Big Picture of Business – Wisdom From the Disasters, Recovery Through Compassion and Resilience

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StrategyDriven Entrepreneurship ArticleThe month of September saw natural disasters. In times of crisis, people came together to help each other.

Forces of nature: from disasters came citizens with noble hearts and a willingness to serve others. Young people sought to help, thus inspiring lifelong commitments to community stewardship. The beacons of light came from caring people, corporate contributors and a spirit of goodwill.

Wisdom from hurricanes and natural disasters: Bring your hearts and your hands. The worst disasters bring out the best in caring, compassionate people.

Hurricane storms do not redefine who communities are… they make communities stronger. Volunteers are the glue to resilient communities. In rebuilding after hurricanes, don’t just build the way it was. When there are tragedies, there will always be helpers. Heroism emerging from Harvey and Irma.

The more we do for others, the more we feel the “potlache” of giving to others. Natural disaster stages: Warning, hit, search and rescue, recovery, rebounding, analysis, flood prevention planning, learning from crisis, community development.

Commit to a program of volunteering. Heart warming scenes of neighbors helping each other in disaster spark the passion of citizens to contribute further. Ongoing community needs for volunteers are supplied by Volunteer Houston: http://www.volunteerhou.org. This is the central contact, as they work with hundreds of non-profit organizations in the greater Houston area, ascertaining needs and scheduling volunteers. Volunteer Houston gave me their Lifetime Achievement Award two years ago. To volunteer statewide in Texas, OneStar Foundation is the coordinating entity: http://onestarfoundation.org.

Houston Strong motivational campaign launched. It embodies resilience, rebounding from disaster, teamwork and volunteer spirit. Other memorable campaigns have included: Houston Proud, Texas Cares, Clutch City, H-Town, The City With No Limits, Houston’s Hot, Magnolia City, Bayou City, Energy Capitol, Space City, Texas Sesquicentennial, Texas State of Mind, Don’t Mess With Texas, Spirit of Texas. There were classic radio jingles: “My Home Town” and “Sounds of the City.” And there was “Houston Legends,” my seventh book, a comprehensive city history that inspired community forums, volunteer recognition and nostalgia.

George R. Brown would be so proud that the convention center bearing his name would temporarily house flood victims. He was a community leader and would be warmly greeting the citizens if he were here today. I knew Mr. Brown in the 1960s and 1970s, first as friends of President Lyndon B. Johnson, then later serving together on charity boards. His favorite accomplishments included the establishment of intercity educational and daycare programs. He was born in Belton, TX, joined the U.S. Marines in World War I and co-founded the construction firm Brown and Root. Pictured, GRB and brother Herman Brown. GRB and LBJ.

There are 23,000 non-profit organizations in the greater Houston area, in action to assist flood victims and citizens in need. Many other cities are sending rescue vehicles, supplies and volunteers. Kudos to friends and community supporters. Volunteers are always to be thanked for their service. In crises and other times, neighbors help each other.

In recovery from the disaster weather crisis, it is important to honor volunteers for their service. The more we do, the more we feel the “potlache” of giving to others.

Realities of giving and charity:

  • Ego charities benefit the organizers.
  • Celebrities often get duped into promoting causes.
  • Charitable involvement is not a game or contest.
  • Most companies give to communities.
  • Cause-related marketing is a good thing.
  • Some companies use “philanthropy” as a marketing scam.

Best advice to You, the Humanitarian:

  • Give generously.
  • Pick causes about which you are passionate.
  • Serve causes which serve many.
  • Your time is your most valuable commodity.

We’re a very giving society and want to make a difference. Companies making donations should be recognized. Human caring and hours of their volunteer service are what matters most. After the crisis, many unsung heroes render glorious service behind the scenes, where it matters.

Love and respect to the humanitarians.

About the Author

Hank MoorePower Stars to Light the Business Flame, by Hank Moore, encompasses a full-scope business perspective, invaluable for the corporate and small business markets. It is a compendium book, containing quotes and extrapolations into business culture, arranged in 76 business categories.

Hank’s latest book functions as a ‘PDR of business,’ a view of Big Picture strategies, methodologies and recommendations. This is a creative way of re-treading old knowledge to enable executives to master change rather than feel as they’re victims of it.

Power Stars to Light the Business Flame is now out in all three e-book formats: iTunes, Kindle, and Nook.

How to Launch an eCommerce Business

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Among the business areas seeing the most success in recent years is eCommerce. People who own their own online store can specialize in anything from fashion to beauty, from health to home. For many, it is a dream come true, but that doesn’t mean it comes without its drawbacks. Starting an eCommerce business requires a lot of time and money, which many people don’t expect before they make the leap. However, it is not an impossible task to begin to see success in your venture, but you must have a great lunch to get you started on the right foot. To help you on your path to success, make sure you make a note of some important tips.

Make a business plan

Every business must have a thorough business plan written before they launch, and eCommerce is no exception. In this plan, you should detail your goals and expected profits in the years to come, as well as information on how you are funding your business endeavor. For many people, funding their eCommerce plans can be done through personal savings, but most need to apply for funding from a bank or seek it from alternative sources.

Don’t forget the paperwork

Owning an eCommerce business is not as easy as just selling a product. There is a lot of paperwork and practical information you must comply with if you are to keep your business legal. For example, adhering to trade finance is the key to success, but this can be a tricky topic to understand if you are not an expert. Thankfully, you can find the Trade Finance guide by TFG online to help.

Assess your market

Every eCommerce business owner must decide on a target market before they begin designing their store and perfecting products. Though some products can reach a universal audience, this is highly unlikely. Instead, you should conduct market research to see who your product will see the most sales with. Over the course of market research sessions and online research, an answer should begin to present itself.

Cover all marketing bases

Marketing cannot start properly until you know your target market inside and out. Only then can you start creating a marketing campaign for both your product and your brand. It is essential for your marketing to cover all bases, such as email marketing, social media marketing, content marketing, and even marketing over instant messenger. Doing this will allow you to promote product awareness over a larger group of people, which will in turn increase sales over time.

Use the right platform

Unfortunately, you can’t just use a simple website hosting platform to sell your products on. There are some platforms designed specifically for eCommerce, where they make it easy for you to design and run your own store, and there is a lot of information around on ecommerce trade. You should remember that the customer experience here is the most important part of choosing a platform. Most customers want a sleek, professional website, where they can see products clearly, and where the checkout process is quick and easy.

Launching Your Business: How To Organize Your Operation

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When you have a business idea, it’s only natural that you may sit on it for a while. Maybe you’re frightened of failure, or of going after your dreams and not really getting what you want? Don’t worry, you’re not alone. But if you have always wanted to run your own business, and you love the idea of making it work, then you have to jump in with both feet (or head first!). If your mind still isn’t convinced and you feel held back, then you may want to focus on organizing your way there. Because when you have the right plans in place and you really work to keep things organized, launching can seem so much easier. So here’s what you need to do.

1. Find The Right Location

So first of all, you need to think about your location. And finding the right business location really does matter. If you need a manufacturing unit, you’ll want to make sure that you have enough space, and that you’re in the best possible position to create. You may even want to just start small and clear out your garage space for this. Either way, you need the best possible place to work from.

2. Decide Between Managed Or Self-Service

If you’re setting up an office, one thing to keep in mind is where you want to have a serviced space or somewhere that juts your own. Managed offices mean that you have all of the bills and services included, even the cleaning! But if you rent a space yourself, you may need to set up all of the utilities, internet, and look after the place yourself. So it’s worth considering which will work out best for you.


 
3. Setup The Space

Then, you need to set up the space. Again, if you are going with an office, why not think about going with used equipment to get the price down? Even if you need an industrial or manufacturing space, you may be able to go for used equipment to get a better price too. But just be sure that the quality is where you need it to be to get the job done.

4. Invest In Your Machinery

However, if you do want to make sure that you can do the best possible job from the beginning, investing in the right machinery and manufacturing equipment is just so important. From niche specific unites to counting scales to quality control conveyors, make sure you’re happy with what you have. These are the things you need to run your business and create your product, so they have to be right.

5. Stick To Systems

Finally, one thing you may find, is that systems help you out tremendously here. When you’re working on a large scale and you have products to manufacture, or an operation line to set up, things need to run like clockwork. So, it’s going to be in your benefit to get processes that allow your production to be as efficient as possible, and ensure that you have a good quality control check in place. When this is all organized, you should find that launching is so much easier.