3 Tips to Being a Smart Small Business Owner

Business

For many individuals, the idea of owning their own small business can be quite appealing.

From making your decisions to setting a schedule around your needs can be appealing.

That said operating a business takes smarts, good money management and even some luck.

With that being the case; are you cut out to be a good small business owner?

What will it Take for Success?

In looking at what it will take when it comes to operating a business for years to come, here are three areas of focus:

  1. Money management – How good of a job you do with money management will go a long way in determining a level of success. With that in mind, do you tend to do a good job of overseeing your finances? If not, now is the time you need to focus on that. Bad money management can doom a small business from the start. Given challenges small businesses face, especially in the early years, be on top of your money. That actually starts before you even open up your business for the first day to customers. If you are looking at acquiring a startup company, make sure you do your homework. Doing so will help you to find the right startup at the right price. Know that there are services online to help you with the search. By having that help, you are in a better position to find the right small business venture to move ahead with. Once running your company, look for good deals in working with vendors. Also be smart to avoid running up sizable debt. Make it your business to manage finances the right way.
  2. Overseeing employees – If you will need to hire people to help you operate a business, make the best hires. While some bad hires here and there tend not to be the end of the world, you do not want it to become a habit. Knowing you have the most qualified folks and they give you their best efforts each time out means a lot. Of most importance, it means your customers are getting good service. As a result, many are likely to stick with you for years to come. Also make it a point to treat your employees well. In doing so, you build a level of trust and most will go the extra mile for you.
  3. Promoting your brand – Last, how successful can you expect your business to be if too few consumers know it? That is why it is so important to get the word out from day one. Make sure the consumer world knows all about you and your brand. Use all the resources at your side to help spread the word to consumers. You might even want some customers to do some testimonials, tell family and friends about you and so on. Of all the key jobs you have to do in running a small business, being a good promoter is one of the critical ones.

When a small business is a big part of your life, how good of a job will you do in running it towards success?

Continue Reading

Why Ambition is Responsible For The Success of Roger Wolfson

Business Careers

One of the key things which most successful people have showcased in their lives is ambition, the desire to reach above where they are and to continue to do so until they get to where it is that they wish to be. No matter whether this is a CEO, an artist or an athlete, the desire to reach for the stars is more important than any skillset which someone may possess. A skilled person without ambition will end up nowhere.

This brings us to the brilliant Roger Wolfson, a man who you may not know instantly but a man who has written words which you will definitely have heard, thanks to the wealth of hit TV shows which he has written for. Roger is a brilliant writer and that is why he has managed to forge such a great career for himself, beyond this however he has always been ambitious and it is this which has driven him to find the success which he has.

Early

People’s ambition is sparked at different times but in Roger’s case he had it from a very young age and the moment that he knew that he had something of a gift with regards to writing, he knew that he wanted to forge out a very successful career for himself. Roger studied 2 degrees, one in law and one in politics, and then went on to do a Masters in writing, clearly commitment to his craft from the outset.

Law and Beyond

Roger went straight into the field of law and after a couple of years was asked to be an advisor for some episodes of the smash TV show Law and Order. It didn’t take long for the executives at the network to recognize how knowledgeable Roger was or that he was a great writer, and so he made the switch from law to television. People don’t make these kind of changes on a whim, they do so because they are confident in their own ability and they are ambitious enough to try something different which may be the ticket to taking them further up the ladder. This is what Roger showed with the decision to turn his back on law in favor of the television.

Not Content

Roger spent a couple of years learning the ropes around TV script writing, working on shows like Saving Grace and Fairly Legal. Once he felt that he knew his way around, Wolfson then started to pen his own series and was often speaking with execs about them allowing him to create his own show, which he has now done with the fabulous show about the U.S. Embassy in Rome, which is showing on Crackle. Again, here we see the ambition which the man has, taking on his very own show.

Who knows what is next for Roger, perhaps his own network! This is a greta example of just what ambition can do for you.

Continue Reading

The Keys to a Successful Business or Enterprise  

Business

It is a well known fact that over half of new businesses will fail in their first 5 years, there is a plethora of reasons as to how this can happen ranging from poor financial management to changes in the market. There are a certain number of Golden Rules when it comes to business and the fact is that far too many businesses ignore them causing their untimely demise. Those who understand business like George Bardwil, always stick to they key principles of business and that is why they become successful. If you are just starting your own business then here are the keys to your success.

business-networking

 Have a Great Product

 Whichever industry or sector you are planning on entering into is irrelevant when it comes to the quality of your product. Before you even consider launching your business you must ensure that your product is the best that it can be. Continuously analyze and re-invent your product before taking it to the market, test it sufficiently and only when you are completely happy should you open up for business.

 Be Financially Minded

 As simple as it sounds, finances are everything and you should constantly have a watchful eye over what is going in and out of your business. If you are not naturally financially minded then either hire a professional or seek to learn more, ignorance of your company’s balance sheet will cause you many problems. Understanding the company’s finances also allows you to seek ways to cut costs, vital in any business, especially if it’s new.

 Communicate Perfectly

 Communication plays a huge role in the success of businesses, clear communication to your employees about the vision of the company and clear messages to your customers so that they fully understand what your business is about.

 Seek Growth

 Businesses should always have a plan for growth, it can be a 5,10 or even 15 year plan but there should be a plan in place. When you are beginning a new enterprise, it can be tricky to be realistic with your future planning, the key is information, look at how similar companies have progressed, read information about your sector and where it is heading. It isn’t easy to balance optimism and realism when planning but there is nothing wrong with having difficult to reach goals, these will keep you motivated and hungry.

 Reward Loyalty

One of the keys to successful business is loyalty, both being loyal and gaining loyalty, being loyal is within your gift, being dependable and flexible with your customers will show your loyalty, but what about gaining it? Well gaining loyalty comes as a direct result of you giving it and rewarding it, loyalty works like a circle, give your customers great service, a great product and consistently high standards and they won’t have a choice but to come back for more. Always remember those that have been loyal to you as they are the ones who will continue to be loyal in the future.

Continue Reading