Nine Tips For a More Successful Business
Small business owners are not always the most qualified to run their business. They are often very good at performing the service they provide but they might not be skilled at administration, marketing, sales, or the myriad of other tasks required. So here are nine tips to help small business owners manage their businesses more effectively.
1. Have a plan. Start with goals, break those goals down into smaller objectives, and then break those objectives down into manageable tasks. Then perform each task with excellence. Revisit your objectives and goals often so that you can make sure you’re on track, and make course adjustments when necessary.
2. Have a contingency plan. Think about the various things that can happen. In some situations, there might be a “business as usual” plan and a “worst case scenario” plan. In other situations, there could be three or four (or more) potential outcomes. Make sure you know what could happen and plan for it.
3. Outsource. This is huge. You can’t do it all. You can delegate some, but chances are, you won’t be able to delegate all of it. Outsourcing is often a more affordable alternative because you don’t have to cover overhead and benefits and you only need to pay for the time you need. More businesses need to do more of this and when they do, they’ll see more profit.
4. Know your business. A good manager once told me, “You should never be surprised by what goes on in your department”. That was good advice and I took it to heart. Now that I run my own businesses, it’s even more important to know the business well.
5. Don’t work 24/7. It can be tempting to work around the clock, especially if you’re a small business owner with few or no employees. But taking periodic breaks, and forced downtime on the weekends, will actually make you more productive when you are working. Sure, you might occasionally need to burn the candle at both ends, but keep it rare and you’ll be surprised at your productivity.
6. Don’t be afraid to tell a client “no”. Clients ask for things. It’s easy to say “yes”, especially when we want the business. But clients can sometimes ask for too much. It’s rarely malicious. They either don’t understand what you do and don’t do, or they’re just watching their bottom line and trying to get a good deal. Consider the long term consequences of delivering on their request and be willing to say “no” if it makes sense.
7. Manage risk, manage risk, manage risk. Businesses are a delicate balance between risk and reward and you sometimes have to risk a little more to leverage your way into more business. But manage that risk as much as possible. Remember: if a deal looks too good to be true, it probably is. Trust your instincts because you’ll be surprised at how accurate they are.
8. Be creative. The longer a business operates, and the larger it gets, the less creative a business becomes. It’s as if someone just sucks out all the creativity and replaces it with bureaucracy. Creativity is a powerful force in business and can open up new opportunities. Just remember: creativity only happens in the midst of failures. (Think: Edison and his hundreds of attempts at light bulbs).
9. Dust off that business plan and revisit it. If it seems irrelevant, you’re not pulling it off the shelf often enough and you’re letting the business lead you where it wants to go. Take control and work with the plan. If the plan is outdated, update it.…
Bob Burg is a trainer, speaker, and author who works with fortune 500 companies and sales organizations all over the world. These companies find the information that he shares vital to their success. Mr Burg has also written several books that contain the principles that he regularly shares in his seminars. Mr Burg has also helped top leaders, celebrities and political leaders, including a former President. He has become such a trusted adviser to so many because his training materials have helped them improve their sales results.
The number of online businesses has skyrocketed over the last couple of decades. Many people left and right are starting their own business online and trying to making money from their computers. Just because you want to start your own business online does not mean you are going to be successful. Owning any kind of business needs a determined and hard working mindset to to be successful. To make sure you are working in a positive direction, let’s discuss 7 myths about internet marketing — those those beliefs or ideas we must all avoid when setting up our online business. Whether you’ve been working at your business for a while or are just starting out, clarifying these 7 myths will give you a great headstart toward a profitable online business.
The Question: What does an entrepreneur need to become successful? The one thing needed for an entrepreneur is undying faith that they will succeed and triumph over any obstacle. Anyone can become an entrepreneur that is willing to take inherent risk to change their lives.
Did you know that starting your own internet business, instead of an offline business, is one of the best small scale business ideas that you can explore?
Someone once said that starting a business is not easy, and they certainly knew what they were talking about. Owning your own business is somewhat like a roller coaster. At one point you may feel that you have everything in control and at another it seems that things just cannot go right. With the economy changing all the time, experience means everything, and yet for first timers and new entrepreneurs, experience is the most difficult thing to come by. Fortunately, there are a lot of experienced entrepreneurs who are willing to lend their experience to newcomers. They help the new entrepreneurs in understanding all the important things about setting up a business. Here are some of these tips to help you get started:
Wanting to start an online business opportunity but having trouble coming up with exciting online business ideas? Putting your time and money into an idea that is profitable but also interesting to you is the key to having a successful online business. Many people are looking for these types of ideas that can change into lucrative careers; and the great news is there are thousands of online marketing ideas just waiting to be started. Here is a list of just a few ideas to get the wheels in motion.