Start A New Business

Avoid making excuses

Many people have dreams of becoming successful businessmen, but they end up unsuccessful. They have excuses and a fear of failure. As a matter of fact, you may have millions of excuses for not starting your own business.

Actually, what excuses do is slow you down so you don’t achieve your goals. So, if you are serious about starting a new business, we suggest that rid you of all the excuses. You may want to look for a solution to your problems rather than make excuses.

Absorb everything

You may want to listen to your family, friends, experts and, of course, yourself. As far as dealing with things that are related to your business goals, you may want to become a sponge. With new ideas, you may want to spur on yourself to keep going. You may want to write down important ideas and maintain notes from different sources so you can have a solid business plan.

It’s not a good idea to ignore advice from experienced business men. As a matter of fact, experts know what works and what does not. Actually, smart people learn from the mistakes made


Keys To A Successful Mindset In Business

Focus

Focus is definitely a key to a successful mindset. Continually remind yourself of what your business is about, what its purpose is, and why you’re doing it. Keep focusing on your goals by having them somewhere that you can see them.

Self-assessment

To achieve a successful mindset, you need to ferret out that negative mindset you may not even know you have. Here are some things to watch out for that may indicate a negative mindset:

  • Having excessive back-up plans and being over-cautious may mean you are doubtful about your success. Safety nets are understandable, but they can become a tempting escape when things are less than perfect. To be successful, you need to press through those imperfect times, not run from them.
  • Believe you deserve it. You may think that you really don’t deserve to succeed in business. You just aren’t “that type.” To be successful, though, you need to believe you are that type!
  • Uncertainty can be a manifestation of a negative mindset – you are not sure of yourself. There are resources out there; you can learn what you need to succeed. You just have to go for it.

Think Like


Start A Low Cost Business

Sell Other People’s Products

This online business model, known as affiliate marketing, is like being a commission paid sales person. You don’t have to buy any stock, deal with any payment programs or arrange any deliveries. The product owner takes care of that. Your job is to find the customers and get them to visit the product sales page. You can sell tangible products that get shipped to the customer’s front door or you can sell digital products which the customer downloads to their computer.

Freelance Your Services Online

If you have a specific level of knowledge or expertise there will be people looking online for them. Freelance websites like UpWork have countless numbers of customers looking for copy writers, creative designers, linguists, website developers, marketing and advertising staff, legal and financial specialists and more.

Create A Digital Product

The greatest advantage when you a create digital product is that once you have produced it, you can sell it online again and again. And you don’t need to be an expert in a particular subject to create a digital product like an eBook, video tutorial, white paper, or report. You just need to


Institutional Investors

  • Equity Funding Mode:
    Majority of businesses prefer the equity-funding mode. Such funding is provided the venture capitalists or institutional risk takers who could be large financial institutions or high net worth individuals. Such investors constantly look out for start-up businesses where they can invest their money. They prefer to invest in at least three to five year old companies that posses the potential of becoming large national players in the end. Such venture capitalists check several potential investment options annually but may choose to invest only in few of them.

The venture capitalists may choose to participate in the management strategies of the company, in which they invested. They generally play a passive role in that company’s management, however, are free to react if they do not find certain things in the management worthy from the investment perspective.

Generally, the venture capitalists do not prefer funding start-ups and financing companies in their early stages, as the level of risk associated with such companies is often high. However, there are exceptional cases, wherein, the entrepreneur has obtained such a funding pattern, if he has a proven track record in the business where he operates.

  • Debt Funding

Business Plan Resources

Build Leadership And Management Capacity

Implementing this principle ensures that the business owner and managers are committed and dedicated to the purpose and the direction of the business. The leaders of the business show the way, through their own beliefs, attitudes and behavior. They engage in their own leadership skills development as a constant.

The leaders in the business are the ones who must live the mission, vision and values of the business, on a daily basis and at all times in everything that they say and do. They adopt an¬†‘always learning’¬†mindset.

Develop A Strategic Business Plan

Effective business owners have a deep and thorough understanding of the nature and direction of their business. To this end, they clearly articulate the vision they have for their business within the framework of the small business plan. Everyone in the business understands the business plan. Everyone knows what their roles, responsibilities and accountabilities are in bringing about the results that have been spelled out for achieving the vision of the business.

Inculcate A Customer Focus Throughout Your Business

Everything that is done within a business is about delivering quality outcomes and results for customers.


Stepping Up to Potential Success

A business takes a few things in order to be successful. Unlike many have been taught, it doesn’t take what you think it would. It doesn’t take the right credentials, ‘falling into’ a market, or even going to business school. It is much simpler than this. The only thing that you need to do as a business is watch your character and your ability to open the doors.

A strong entrepreneur is the type that is mentally aware of what is available. They are able to find markets, are continuously working on the next best thing and don’t stop at anything. Their character is aggressive, straight-forward and persistent in getting the job done. Just like someone who is running a marathon, they don’t stop when they get tired. They only stop when they have crossed over the finish line in order to get their medal.

By beginning with these characteristics, you can start stepping towards your own success. It is the development of these few attributes that will lead you into practical actions of helping your business to succeed.

The first application to these attributes is to find the best way to advertise to people.


Succeed In The Wholesale Business

The number one aspect of starting a successful wholesale business is focus. Once you have the ideas and the business action plan set, you need to focus on building such wholesale business niche into a profitable venture. You need to set yourself daily goals as to what you are going to achieve for such 24hrs period. There is a huge difference between having something written and not having anything written down. Both research and even my testing shows that once a wholesale entrepreneur focus on achieving his required written daily goals for his business, the chances of getting the job done are increased. When you don’t write what you need to do either for the day or for the whole week, you are most likely to be as people say- lost at the sea. This is even the primary reason a wholesale business fails in America, they start the business and once they do not see profits as expected- they carry their fault on the business instead of carrying such faults on themselves. Selling wholesale tangible items on the Internet and better yet on eBay works- your first step is to focus on what you need to do


Strategies for When Clients Don’t Pay

Gentle reminder

Your invoice could have been forgotten, misplaced or buried in a pile on your client’s desk. If they have gone past your due date, email – or call depending on what is most comfortable for you – a gentle reminder asking them the status of payment.

If you use QuickBooks or QuickBooks Online, you can also email a statement directly from the system.

Be personal

If you’ve reminded the client and no payment has come, it is time for either another email or a phone call. Your client may tell you that he is very busy and apologizes that he “forgot” again.

Explain that cash flow is very important to your small business and that you can not afford to carry the unpaid invoice any longer.

Always remember to make it easy for your client to pay you. Tell him that you are happy to be paid via wire, PayPal, credit card – offer him all the options and be sure that you have more than just “send a check” available. Make it as easy as possible!

Be the “squeaky wheel”

If your client is having his own


Run A Successful Small Business

  • Get in motion by eliminating the procrastinator’s best friend: “Messy Desk/Office Syndrome.” If that is something you’re plagued with, you’ll find slaying the beast a lot easier if you take what I call the “The 3 D System” approach to organization which directs that you look at what is on your desk or what is cluttering your office and either Dump it, Deal with it or Delegate it.
  • Outsource everything that is not the best use of your time. Look at where you make your money, and if it’s not at bookkeeping, Web site maintenance, or writing marketing materials, for example, farm those tasks out to someone who can do them far more quickly and efficiently than you can.
  • Take things from your “to-do” list and block off actual times for working on specific items. For example, 10-10:30 AM might be for returning phone calls; 1-2:00 PM for working on an article; 2-3:00 PM could be for updating your marketing plan or for researching business networking events. You’ll be amazed at how much more you get done when you assign specific times for doing things.
  • Resist the temptation to answer the phone every time it

Stages Of Business Development

Start-up Phase

Start-up phase is that phase during which a business comes into existence. It is during this phase that plans are conceptualized and implemented regarding how the business should be set up, how it should be run, where to get the start up capital from and how to keep the cash flow going. During the start up phase, legalities of setting up the business are taken care of. Every business, which is starting up will normally require a large investment of capital, lots of time and effort, setting up of good profitable and stable customer base, money to buy raw materials, manpower recruitment etc. Businesses usually arrange for their own limited resources to run their activities. At first, demand is assessed and/or created for the products or services the business wishes to offer. Then manufacturing facility and processes are established (if it is a business engaged in manufacturing) or processes for providing service are established (if the business will be service provider) or goods for sale are purchased (if it will be business engaged in trade).

Growth Phase

During this phase of its existence, businesses experience expansion of its activities and enhancement of its