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The Business

Online Marketing – 7 Myths to Avoid When Setting Up Your Online Business

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.
Myth 1 – Having a single brilliant idea will make you rich. False — you may come across the best new idea in the world but that does not guarantee you will make money. Many of the most popular and most successful businesses did not start off with one single brilliant idea that launched the business right into being successful. A single idea needs to grow over time; a single brilliant idea has to grow into something bigger to create success. And other ideas will come after that idea expands to its potential.
Myth 2 – If I build an online business, people will come. In the past, some businesses placed a product on the internet and instantly faced some success. But that’s not the norm. You can’t just assume that once you start your online business, you will generate income. Much of your success depends on your marketing — a very essential factor to create big sales. If people don’t know about your business, you will have no customers.
Myth 3 – If you don’t protect your idea, someone will steal it. In reality no one really cares about your idea unless it blows up to be very successful. Other marketers may watch your success grow, but to be successful themselves, they must create their own unique product.
Myth 4 – If you like your product, so will the rest of the world. But in reality what your customers think is much more important than what you and your friends think. If your potential customers don’t like or want your product, it’s time to move on to something else.
Myth 5 – Financial or business models will not help you build a successful business. In fact, if you can find someone who created and successfully marketed a profitable product, you can copy their model to build your own success. A business model will help you plan your strategies and also how much and where you might market your product successfully.
Myth 6 – What you know matters way more than who you know. The people you know and trust can be the key to growing a successful business. They can help you design your product, create your marketing plan, and guide and support you through the process.
Myth 7 – If my product has no competition, I will make lots of money. Again false — If there’s no one out there selling a product like yours, it probably means the market for that product doesn’t exist. Market research before you begin to create the product is probably the most important preliminary step to a successful business. So you must make sure that there are customers out there looking to buy your product.…

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The Business

Being a Transformational Leader

Are you a leader? A�
Do you help others and try to add value in their lives every day? A�
I have recently plugged into this action after living my life following others actions and advice. I use to rely on others to solve problems for me. I was lazy and content. No more! A�
It’s clear to me that Successful people are leaders. A�
Leaders take decisive action and manage their time every day of the week. These are the people I want to be around. I want to be in the Millionaire’s club and I want to pass on my knowledge and help others change their mindsets.A�Abraham Lincoln was a great Leader. Here are 4 reasons why…
1) People- Lincoln would visit his troops on the front line. He would build relationships and trust with his people. Good leaders use persuasion not coercion. A�Lincoln was a master at this.
2) Character- Integrity, Honesty, Follow-through, Commitment..these were traits Lincoln encompassed. “Honest Abe” A�as we all know him. A�
3) Endeavor- Lincoln always asked his we do better? A�We must rise with the occasion! A�Be decisive. A�
4) Communication- Lincoln always pressed his leaders to master Public Speaking. He believed in the power of story. A�
There you have it. Go out and be a Transformational Leader. Do what Abe united his neighbors. We can thank him for the word United. Take action a child, business associate, neighbor, spouse, etc.. A�
There are 57 rules for success:
1) Deliver the Goods
2) The other 56 don’t matter
You can visit me at…

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The Business

Business Start-Up: Pointers for Writing Business Plan

Business Start-Up: Plan your business successfully.
Are you planning to start your own business? What does it takes to have a successful business? Lots of money, experienced business partners or just plain guts!! You’ll be surprised; you just need a good business plan. But what constitute a good business plan? There isn’t any specific rule on good business plan, but here are some precautions that you may consider to avoid failures.
1. Set Company Values through Vision statements. First, you had to have vision for your company. The vision will help you to set-up some values that you want your staff to abide as the company. These values will differentiate you from your competitors. Looking forward, it enhances the growth that will make you proud, someday. Develop a mission statement that will help achieve immediate or minor goals/priorities.
2. Financial forecast and budgeting. Create your own financial forecast and budgeting. It is part of your business plan. Without them you’re planning for failure. But your plan should also covers competitor analysis, market conditions including knowing your industry & customers well. Only with those factors can you plan your budget and forecast well.
3. Serve your customers well. If you don’t serve your customers, others will. Sometimes, customers can be nasty. But if you explained and tried to get them understood, these difficult customers may become your loyal customers. They can also be your centre of influence once they become your friends and liked your service.
4. Always be aware and understand your competitor. You have to be updated of what’s going on in your industry. You can be a big player in your industry, but never be complacent. A newbie in the industry has all the ability to capture your market share without you realizing it.
5. Do take risk. Business is about opportunity and taking risk. However, you have to do some research and analysis to take calculated risk. Make a study on the possible challenges and its potential returns. Don’t just jump into the wagon recklessly. In this way, you minimize your losses.
6. Learn from the expert. You may like to get some feedbacks from an experienced business-owners pertaining to your plan that you wanted to carried out. Even the most experienced entrepreneur does that. The different views may help you to build up on your original ideas better.
7. Prepare for the unexpected. You may have drafted a wonderful business plan. Sometimes your plans still need some twinning due to unexpected events. This may result in amending your budget or forecast, or even abandoned the original plan at all. Therefore, your business plan has to be flexible in accommodating those circumstances.
8. Unique selling points. Your original plan may change with time and circumstances but your customers must be able to experience the difference when dealing with you. Develop a unique selling point to make your company stands out and beyond your competitors. Be it after sales service, follow-up system or whatever. Leave that last good impression with your customers.
9. Rewards and praise your staff. In order to keep your business running, you need a trustworthy, hard-working and dedicated staffs. Without them, your business may suffer. Therefore, you need to incorporate some form of reward system in your planning. This is to motivate your staff better and together, the company will reach greater heights.
10. Review your plan. No plan is wonderful unless you follow through. Identify your milestone. Whenever your sales volume or revenue reached several amount, you need to re-look into your business plan to see the possibility of expansions. Reviewing your business plan occasionally helps you to determine whether your existing process is effective or needs further improvement. Remember, it is your business plan that will turn your vision into reality.…

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The Business

Step-By-Step Guide To Success In Forex Trading

Step-By-Step Guide To Success In Forex Trading

Trading on the foreign currency exchange, also called forex, can be a great way to make money. It can also be very exciting. It is important to learn to trade without taking too much risk or making rash decisions. Use the tips in this article to learn how to avoid common mistakes and to make the most of your trading experience.

Business Plan

Remember that a trading plan in Forex is a lot like a business plan. You need to include every possible angle here, including what you can afford to spend and even how much you expect to grow as your business profits. Plans will ultimately change, but no venture can succeed unless you put a proper plan in place.

Economic News

If your research strengths lie with analyzing news, you will want to concentrate on “fundamental” strategies on the Forex market. Fundamental strategies are those that take their queues from political and economic news. In fundamental trading you review such news and make your trades based on how you believe currencies will be affected.

Financial News

Always stay on top of the financial news when you are doing forex trading. Currencies rise and fall on speculation and that speculation usually starts with the news. To quickly capitalize on major news, contemplate alerting your markets with emails or text messages.

Income

Before you make your first trade, take a while and figure out your personal goals. Are you just looking to supplement your income, or do you want to make this a full-time career? Understanding where you want to go with Forex is the first step in any trading venture, because if you take the wrong approach, you could end up losing everything.

Money

Keep your forex money moving. When you let your money sit in a big loser of an investment, you are missing out on potential big wins. Resist any, and all, urges to lower a protective stop. It may seem like a good idea to hope for the best but usually you will just end up with a bigger loss.

Opportunity

You should only trade with Forex if this is something you really want to do. Going after Forex as an easy career opportunity or because you desperately need the money will make you one of the 85% of investors who go broke. You should trade with Forex because it’s something you truly want to do and for no other reason.

Profitability

If you are a new investor in the highly volatile and constantly changing foreign exchange market, it is in your best interest to conduct each and every trade with a stop-loss order. A stop-loss order alerts your broker to automatically sell your stock when its price falls below a target profitability level.

The Business

With so many people using Forex across the globe, the best brokers in the business stand out. There are multiple websites around that give you thorough information about which brokers are legitimate and which brokers you should avoid. Never neglect to do your homework before hiring a broker. It’s the difference between success and failure.

In order to make the most of your forex trading experience, you need to learn the basics and avoid the mistakes that many first-time traders make. Use the advice in this article to learn the best way to start forex trading. You can make a lot of money if you use sound advice and stay calm.…