Tag Archives: small business

Starting a business is one of the best things you can do to secure your financial future and independence. A business of your own is one of the best ways to enjoy financial freedom and turn your passion or hobby into a lucrative earning opportunity.

Things To Consider Before Starting A Business

Whether you are starting a business on a part time or full time basis, it is important to consider a few things first. One of the most important things to consider is what type of business you are most comfortable with.

One of the most important things when starting a new business is to start a business that is a reflection of your own interests. Starting a business that is based around an area in which you have expertise can greatly reduce the learning curve and increase your chances for success.

After all you will already have to learn the ins and outs of running a business; starting a business based around a familiar subject can make getting that business off the ground a great deal easier.

Research The Availability Of Small Business Loans

When it comes to starting a new business, it is important to seek out the financing and help to which you are entitled. Starting a business can be an expensive proposition, but fortunately there is plenty of help available, in the form of grants, loans and other opportunities.

It is a good idea to thoroughly research the availability of small business loans and financing before you start up that new business.

Consult With A Tax Advisor And An Accountant

It is also a good idea to consult with tax advisor and an accountant before starting that new business.

A good tax advisor can help you reduce your tax burden while the business gets going; while an accountant can help you structure your business in a way that will maximize profit potential while increasing the chances for success.

Writing A Business Plan

Before you start your business it is a good idea to write a business plan. The business plan is one of the most important documents you can have when starting a business.

Set Yourself Free From The Nine To Five

Starting a business is not an easy process, but it can be an important step toward getting the financial freedom you have always strived for. Starting a business of your own can be a great way to achieve success and set yourself free from the nine to five world.

Shaunta Pleasant is a professional writer and editor on business planning topics. Visit my site to learn more about planning a business start up at http://www.yourbusinesspal.com/home_internet_based_business_opportunity.html To download our business start up work shop at http://www.yourbusinesspal.com/business_start_up_work_shop.html

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Starting a business, whether it is a 'small business' where you work out of an office or a 'home based business' you run out of a corner of your bedroom, you can drastically change your life through a very simple plan.

Starting a business is not something you jump into. When you are working a simple plan, starting a business is something you GROW into.

How do you make a simple plan for growth when starting a business?

1. Groundwork of your simple plan is crucial when starting a business.

Find someone that was successful in starting a business in your industry, watch them, interview them, find out everything you can about what they did when they were starting a business. Then, write a simple plan outlining what they do all day.

In order to have what they have, you must do what they do, so find out what percentage of their day is spent, for instance, on the telephone making calls, receiving calls and the type of calls.

2. Divide your time.

The next step in your simple plan as you are starting a business is to divide your time like your mentor. Use the same percentage of the total hours, as you will not
work the same hours they do.

The 'secret to success' is not in the hours, it is how you spend them! By following the simple plan outlined here, you make the most of your hours, and get the most out of everything as you are starting a business with a simple plan of success.

3. Set your Goals.

A vital piece of success when starting a business is that you have a goal in mind and work your simple plan to get there.

Without a destination (a specific income amount, a personal item like a car or boat, or simply an amount set aside in savings), how will you know you arrived?

4. Track your progress.

Divide your goal into days, weeks, months and/or years to quickly know what is required to reach your destination.

Check your progress often. You will know quickly if you are sticking to your original goal or if you are ahead or behind schedule.

Just like a road trip, as you are starting a business, you will likely come across some detours, that's OK. On vacation, just as in starting a business, if you find a road blocked or a path impassible, you simply find another way.

And, just as on vacation, include in your simple plan a few hours here/there for such 'emergencies'. If you find you have no emergencies, simply choose something else that will get you closer to your destination, or just relax and enjoy where you are.

5. Work ON your business, not only IN your business.

In starting a business, you must set aside part of your time to plan, set goals, promote and advertise your business, not simply work along in your business, doing the things you do.

When starting a business, a simple form of advertising is a website. The more people that see what you have to offer, the quicker your business will grow.

You could go door-to-door, telling everyone about your website (not a simple plan!), or maximize your time by posting articles online where many people see them.

This is overlooked by many as they are starting a business, and one of the reasons they fail...

As your business grows, you will do less advertising and begin to work your simple plan toward the 'IN your business' phase.

6. Give excellent Customer Service.

Upset customers kill more business than you can imagine. Find a way to work with them, or simply give them their money back. Losing customers is something you cannot afford when you are just starting a business!

So many people simply do not make the time to provide quality service to their customers. Do not let that happen to you!

With a little planning and goal setting, follow through each week and simply repeating the process, you can change your business from flat to cash in a short amount of time.

When starting a business, if you follow the simple plan we have outlined here, you are already a success!

Steve Majors - The Lazy Investor

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Running a small business is no small undertaking. Technology systems, processes, and employees need to work in unison to keep day-to-day operations running smoothly.

Effective managers will always find ways to work smarter, not harder. There are countless paths to success in business, but standardizing and leveraging technology resources will make your overall workflow more efficient.

But before you run out and start purchasing new equipment, consider some of what I consider my go-to best IT practices for growing businesses:

Streamline Processes

Consistency is the key to making your workplace comfortable and professional. Perform a comprehensive audit of all your technology resources. Make a list of programs, platforms, and applications that are used on a daily basis. With a sharp eye, you'll quickly recognize those systems that are cost-prohibitive and can be eliminated.

Switches might range from decreasing your overall paper flow, to making the leap from on-premise servers to a hybrid cloud storage solution. Listen to your staff and find out what applications are holding them back from future success.

Use Productivity Tools

Time is money in today's interconnected world, so waiting for computer restarts and file updates should be out of the question. Making sure that there's a constant flow of work through all your digital platforms lets you shift your attention back to generating leads and finalizing deals with new customers.

Messaging platforms, team management tools, and cloud computing can all decrease idle time between projects. Test and re-test your systems before executing your new technology plan to work out any technical difficulties.

Even with all the rave reviews you may see online, make sure you understand the strengths and weaknesses of your tools before handing them over to your employees for immediate implementation.

Make Storage & Security A Priority

Contact information, financial records, and project statuses all must be guarded by several levels of security. Customize your log-ins and revise passwords on a monthly basis. You can never take too many precautions, as even a momentary leak of information can significantly damage a company's reputation.

Select your anti-spam and anti-virus software by comparing the costs and benefits of each choice. Put controls in place and designate a single individual to handle any sensitive data. Even with these safety measures in place, backing up all your files in a central location will give you peace of mind in the case of any system crashes.

Stay Updated At All Times

Technology changes every single day and becomes outdated. What was cutting edge weeks ago can quickly become a relic, leaving your business lost in the past. Installing patches, defragmenting desktops, and subscribing to updates should be standard practice for all your employees.

By doing your IT "homework," you can avoid the one thing that ever small business fears: a total system breakdown. Costing you time and money, don't end up kicking yourself for not taking a few extra minutes to download that latest update, or checking in with an IT Support specialist.

Ask For Professional Help, When Needed

Most blogs preach about the latest and greatest IT breakthroughs, so choosing the correct systems and platforms can be overwhelming. But making an uneducated decision can be just as costly. If you're not a tech geek or self-professed IT guru, turn to outside assistance. Sometimes, approaching an IT consulting firm is the best decision you can make.

To further discuss how Aqueity, a professional IT Support firm, can help support your small business technology needs, visit http://www.aqueity.com.

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Small business owners may be able to wear as many hats as they can, but that can be pretty tiring eventually. With the advent of outsourcing, small business owners have found a way to get the assistance they need, especially for activities that they are not skilled at all to begin with. Especially for activities that are not income-generating, but are integral nonetheless to the operations of the business, outsourcing has been the answer to getting it done properly and at the fraction of the cost.

Time is of the essence for small enterprises, hence it is important that small business owners are smart to outsource some of their business activities overseas instead of doing everything all by themselves.

Marketing is probably one of the best activities to outsource for your small business. It is integral in income-generation. However, with countless consultants and PR firms blossoming everywhere from around the world, it wouldn't hurt to consider outsourcing their services and letting them manage your marketing and publicity concerns. Outsource your marketing efforts such that offshore marketing professionals will be the ones managing your business website, your email campaigns, your social media engagements and more. It will definitely help free up your time while you let the pros take care of it for you.

Payroll is another facet of small business management that is best to outsource. Payroll is a time-consuming process. You need to invest time and be organised at all times to keep records updated and accurate, calculate cash amounts per employee and communicate them effectively per employee. Instead of putting a great majority of your time preparing your payroll, you can have payroll professionals overseas to manage it for you. And when tax season comes, you have the necessary documents to submit without errors, which will free you up from incurring penalties. The same with payroll, you can also outsource your bookkeeping and accounting requirements.

Administrative support is best to outsource as well. With most business activities grounded on the computer these days such as creating files in Excel, uploading data on online databases, booking travel arrangements and crafting email replies to name a few, hiring overseas employees to help you with your administrative requirements should be a consideration as well. It is like having virtual assistants who can help you get a variety of business activities done. Further, since it is natural for small business owners to be hands-on with their activities, it helps if they have someone able to rely on and to assist them with whatever activities they need to accomplish.

To make outsourcing successful for you, you need to find the best outsourcing contractor for your small business. Be extra smart in choosing the contractor to partner with by researching and getting referrals from co-business owners you trust. If you are new to outsourcing, it is best to opt for a short-term contract first to test the waters. If you are satisfied with the transactions, extend it. At the end of the day, partner with the outsourcing contractor who will treat your business goals as your own. Everything else will flow smoothly from that point.

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