Showing posts with label small business. Show all posts
Showing posts with label small business. Show all posts

February 25, 2010

Success in Business!

Here is a secret that may be difficult for you to believe, so prepare yourself. It is an extremely important secret that can have a most profound impact on your small business success, or it's failure.

Let's start by asking a simple question...Do you enjoy sales?

The truth of the matter is that when many small business owners are asked this question, they respond with answers like, "No way" or "I can't stand sales, let someone else do it."

Why is your answer to the above question so important? No doubt you have seen headlines like the following, which glorify how easy and simple it is to succeed in business:

"The Ultimate Lazy Way To Start Your Own Business"

"Cash In On A Multi-Billion Dollar Industry In Your Underwear"

"Easily Generate A Lucrative Income While Sleeping"

We are constantly being bombarded with these "easy ways" to make a million bucks. Does success in business actually work this way? Not in reality! Is it realistic? Not even close!

The bottom line in operating a successful long-term business comes down to your ability to sell your product...period. It doesn't get any simpler than that. You can either sell your own product or resell somebody's else's product. Either way, your success or failure will ultimately depend on your ability to market it. If you don't enjoy sales, you have very little chance to succeed in business for yourself.

The most prevalent attitude of many new business owners is that their product, once launched, will miraculously sell itself. After all, the product is awesome and everybody will absolutely, positively want one. People should be lining up to buy it, right?

Here is another truth about sales. It will take 5-7 sales attempts to close 80% of your sales. Yes, you read that correctly. That's 5-7 attempts before people will say "Yes, I want to buy your product." Running an advertisement one-time or making a sales pitch to a potential customer once in a while does not qualify as effort. Hearing that first "no" and subsequently giving up means the demise of your business and gives someone else an opportunity to turn that NO into a YES.

What most people don't realize or fail to accept is that it may take weeks, months or even years to get a product to sell according to your expectations. You may have to frequently change your sales pitch, web site, advertisement or even the product until you get it right. This dedication and determination is what separates the very few successful business owners from the many "wannabes" and fly-by-night hopefuls.

The bottom line is that to be successful in ANY business you will need talent and the ability to sell, sell, sell.

February 4, 2010

A small Small Business summary

Small business is a term that is used day-to-day. That is because in the past decade the rise of small business has been larger than in any other decade prior. This is largely due to the increasing number of services that are available to small business owners, to enable them to keep their business running.

There really isn't any guidelines for when the term small business is used, however it is simply defined as a business which has a small number of employees. How few employees is debatable, and the definition of when a business changes from a small business to a larger corporation varies both by country and industry. This number is generally less then 100 employees.

As mentioned before small businesses due to their nature, are in most times sole proprietorships, partnerships, or privately owned. Common in may countries, small businesses, are most oftenly related to: accountants, restaurants, guest houses, photographers, small shops, hairdressers, tradesmen, solicitors, lawyers, small-scale manufacturing etc.

Small businesses in often cases are located in private homes, for two main reasons. The first is because it is economical and in most cases convenient. The second reason is that there are several benifits with tax,etc for having your business in your home.

Running a small business is an exciting venture, and a great way to introduce yourself into the business world, and to gain business sense. If you are interested in starting your own small business, I would recommend having a talk with a local lawyer or accountant, who will be able to answer questions that are specific to your local area. Good luck with your new venture!

January 26, 2010

Characteristics Of A Successful Entrepreneur

Studies have shown that successful entrepreneurs possess these characteristics:

1. Self-confidence

This is that magical power of having confidence in oneself and in one's powers and abilities.

2. Achievement Oriented

Results are gained by focused and sustained effort. They concentrate on achieving a specific goal, not just accomplishing a string of unrelated tasks.

3. Risk Taker

They realize that there is a chance of loss inherent in achieving their goals, yet they have the confidence necessary to take calculated risks to achieve their goals.

Entrepreneurs are people who will make decisions, take action, and think that they can control their own destinies. They are often motivated by a spirit of independence which leads them to believe that their success depends on raw effort and hard work, not luck.

So which of these three main characteristics is the most important? Believe it or not, it has to be self-confidence. Without self-confidence, nothing else is possible. If you don't believe in your abilities, then the first challenge that arises may knock you off the path to achieving your goals. Here are a few things to keep in mind for maintaining a higher level of self-confidence.

Positive Thinking

Well, it all starts with a positive attitude, doesn't it? Believing that something good will happen is the first step. Negative thinking simply is not allowed. You must truly believe that there are no circumstances strong enough to deter you from reaching your goals. Remember too, that positive thinking can be contagious. When positive thinking spreads, it can open doors to new ideas, customers, friends, etc.

Persistent Action

Now all of the positive thinking and believing in the world is useless if it is not applied towards a goal. You have to take action, no excuses are allowed. This action must also be persistent. Trying once and then giving up is not going to be enough. Keep at it one step at a time. If you can't get by a certain step, then find a creative way to try again or just go around it.

At the beginning of this article we identified a few traits that are common among successful entrepreneurs. You should be able to look ahead and see yourself where you want to be. Now just maintain a strong belief in yourself and your skills, stick with it, and don't give up. If you can do that, you're already half way there!

January 25, 2010

Focus Your Home Business Like A Laser To Explode Your Income!

A common mistake for almost all new work at home / home business beginners is the trap of trying to be all things to all people. They will take any job, even if it not what they set out to do, simply because the job pays money.

It's tough to focus, we know!

We know how tough it is to stick to just one thing in your new home business because here at FunCareers.com we "eat our own dog food". Everyone works from home and knows the successes and difficulties you face and one of the things we have learned for ourselves is that you must focus on just *one* thing to be successful.

In the modern world, specialization is the key to success. If you were chosing a brain surgeon to operate on you I am sure you'd prefer one that only does brain surgery and nothing else! The same applies to your business.

If you do just one thing.

For example, if you are offering a lawn care service then specialize in that. It's all too easy to offer tree trimming, fences, design and many other landscaping services as well. If you're going to offer general landscaping and maintenance then do that. If you're going to do "lawn care" then learn all about grasses and how to manage and care for lawns the best ways possible. Now when you offer lawn care you can target upscale markets and be an expert on creating and managing perfect green lawns, with fees to match.

Narrow your focus to make more money!

You may be surprised to learn that making your focus more narrow actually gets you more customers. By offering one targeted product or service you can charge higher fees and you attract the customers that are willing to pay for your expertise. This applies to the online world as well as the real world. I'm sure you've seen hundreds of those "mini-sites", just one long sales page and nothing else. That's an extreme example of focus - not even a site, just one page, one product, it sells or it doesn't.

You can learn a thing or two from those pages for your real world business and create a laser like focus on the one thing you excel at, only targetting the customers that crave your product or service so you can increase your home business income.

January 13, 2010

Are You Ready to Outsource Your Bookkeeping?

Do you run your own small business and try to do it all yourself? Why? Shouldn’t you spend your time doing what you do best- whether it is selling and marketing, customer service or making decisions on how to grow your business?

An entrepreneur tries to juggle many balls each day, but sooner or later one of them is going to be dropped. A smart business owner will realize that he/she can’t do everything because there are only 24 hours in a day. Unless you are extremely organized and enjoy working with numbers, then maybe you need to outsource this job. Too many business owners spend their time doing what they are not very good at simply because they don’t know how to go about finding someone to do that job for them.

Where do you start? Ask your accountant for referrals. Obviously you don’t need a full-time person to do your books, so your best bet is to look for someone who wants to moonlight at a part-time job. There are also bookkeepers with their own small business who are looking for clients. If you don’t have any other employees, this situation will work best for you because you can pay them as a subcontractor instead of an employee on payroll. However, you will need to give them a Form 1099 at year end for tax purposes. But, since they are accounting experts, they can help you with that task too.

You should interview your prospective bookkeeper just as you would if you were hiring him/her as an employee. Ask for a resume and references, and check them out. Since this person will be handling your confidential records, you want someone who is trustworthy.

Depending on your location, you should expect to pay between $15 and $50 an hour for a bookkeeper. Don’t necessarily hire the one who offers the lowest rate- remember you get what you pay for. The more experienced person will cost you more, but will provide valuable input and suggestions to streamline your business that will wind up saving you money in the long run.

Since this person will be working closely with you in your business, you should feel comfortable with him or her. If you have any reservations about this person, go on to the next candidate.

While the selection process may take a while, it will be worth it later. Take your time to find the perfect bookkeeper, and in a few months you’ll wonder how you ever managed to run your business before you hired one.

Starting A Business? Be Honest With Yourself For Success

This time of year a great many people are thinking about starting their own business. There is nothing like an exciting business idea to kick off the new year in style.

Unfortunately, most of the new businesses we'll see this month won't make it through the next quarter. Why? In most cases the business idea was solid, it just didn't fit the true needs of the owner. To help ensure longevity and success, there are a few things to keep in mind.

First, be honest with yourself about what you expect to get from a business AND what you're prepared to give the business. You may be concentrating on the parts of the business you really like -- like earning a large income -- and ignore aspects you won't like -- like selling to customers and completing paperwork.

Yet, in the average business, selling and office administration take up most of your day. To really succeed in most businesses, you have to LIKE selling and customer service. If you don't do those things well or don't have the proper attitude, you simply won't be able to stick around, much less reach your aggressive income goals.

Even if you don't mind spending time on all aspects of the business, you may not have the time to commit to it. Most of us have to keep working jobs while we work on a new business. Sometimes we simply don't have time to succeed.

Fortunately, you can easily outsource the things you don't like to do while concentrating on the things you do. You can have an outside service prospect for new customers. You can even find others to sell for you such as marketing call centers, affiliates, and partners.

There are services that will handle many of the customer service and office administration tasks. A contract bookkeeper can maintain your financial records working just a few hours a week, even from his or her home or office.

Most importantly, make sure you use automated online tools. Autoresponders, lead creation systems, and online ordering and payment processing can literally automate many aspects of your business. This is how thousands of online business gurus earn fabulous incomes while traveling the world, and working just a couple of hours one morning per week.