03/24
Sucess Happens to those who make it Happen
In the world wide web we weave, networking is a powerful business solution. If we really can learn by teaching, then we must teach in order to learn. Become a blogger. This activity will boost your professional as well as your personal goals to their highest levels.
Create a Blog to help other small business owners tackle some of the issues that they may face everyday. Not only will this help other people, it will make you feel proud. There is nothing more rewarding than giving a helping hand. The cost may be free, but the knowlege and insight that you could offer will be priceless to the one who truely needs it.
Don’t have anything to say? Just visit some other sites and make a comment on their presentation, information and creativity. This will keep you active and move your business toward success. You may even make some important business contacts along the way. Remember, every step counts. Just put one foot in front of the other, and soon you will be on your way to success.
E-mail campaigns can generate continued interest in your products or services. In fact, new uses for your products or services may be realized through dynamic network marketing techniques. For instance, if you have had successful marketing campaigns to a particular customer, and you create an e-mail campaign to a general audience, with different products, chances are that you will generate at least some new interest in the other types of products that you offer.
No website? No problem, there is an entire web weaved with service providers and experienced search engine optimization resources. Seek and you shall find. The first step should be to organize, in a notebook, on scratch paper, how you would like you site to be organized. Got HTML? Great, just upload and publish. No HTML? No problem, there are several template site builders just waiting to help.
Be it the small restaurant or the large book store, your business needs to reflect the changes of our world. The dynamics of business reflect the changes of the organization. Change is good! No change, no-good.
If your business remains static then your customers will too.
03/10
Need to find Mentor?
If you are just starting out, you may want to find a mentor who is willing to show you the ropes of a particular business. A mentor can show you the tricks of the trade. Why bother making costly mistakes when someone can show you the most effective, less expensive way to do business?
It seems simple enough. But where would you find such a character? Who would be willing to share this valuable information with you? Chances are that you would be best helped with several different types of mentors.
Realize the type of mentor that you need:
Say that in order to promote your products or services, you need to present some information to a group of people. You need to make a speech in public. Look to your clergy. They have the knowledge that you need. Watch and listen to them. You can learn a lot from just observing. Listen to their tone of voice. How have they set up their argument? How do they incorporate examples into their speech?
Or let us say that you are evaluating your management structure, your school’s coaches may provide the management mentor that will supply you with information about organizing and participating in successful events. The same would be true for the school’s principal’s office. What about your local Library? These are all efficiently ran successful organizations.
Local Industry leaders and small business owners are always an excellent source for inspiration. Watch how they promote their products and services. Chances are that the types of strategies that they utilize, will benefit your organization as well.
If communication is your concern, identify sources such as your church secretary, school secretary and even your friends and family. These sources may even shed some light on accounting and book keeping issues.
Don’t forget the obvious choices, like professors and retired community members. The possibilities are endless.
03/05
Got Grants?
How Much for that Free Grant?
Many people contact me during their grant seeking process. Many of them want start-up funds for their businesses. They have been watching late-night television, no doubt. There are many so called “free” government money give-a-ways, it makes my head spin.
The truth is that there are no so called free rides. The fact of the matter is that you could find start-up funding, through government loans, which are low-interest. You may even find local economic development centers. These sources are invaluable to the new business owner.
Begin your funding search for your new business at your local Small Business Administration, www.sba.gov. This site has resources which will walk you through the business planning process.
If you are interested in expanding your business, you may find government grants which will help. Just visit www.Grants.gov.
If you are an inventor, you may wish to file your business plan with Venture Capital Resource Directory, www.vfinance.com. These Investor Firms and Angel Investors can review your plan and assist you with capital for your ideas. Be assured that these investors are very selective with their investments.
Don’t buy that book until you at least check out some of these free sources.
02/29
Six Steps to Sucess
What exactly is a Business Plan?
A Business Plan is a document which describes in detail, the structure of your new business. They generally are intended to be amended. They are in fact, a guiding principal. They are the stepping stones to the businesses eventual success or failure. This will be your agenda.
You may present a Business Plan to your financial institution for the purpose of making a loan. Although there are no set formats or formulas to create a successful business plan, there are some basic elements, which will be required for almost all funding and operating solutions.
During the business planning process, you will gain immeasurable insight into the concepts and possibilities of your business. This stage of your planning will be the first and most important step toward your success. You will end up with a substantial document. This document will have Front Matter, a Body and End Matter.
As you move through these steps, make notes. Begin with a blank piece of paper for each step. Jump around through the steps in any order that you wish. It does not matter which step that you complete first or last. For example, Step 3 should be your last.
Front Matter
Step 1
This document will be a professional reflection of your business. It should include a Covering Sheet, with your business name and contact information.
Step 2
Create an Executive Summary. This will be a basic statement of purpose. What will be your businesses main goal. Who will benefit from your product or service? Who will be your partners? Where will your business be located?
Step 3
It should include a Table of Contents. This will allow your readers to quickly turn to the specific page that will provide them with the information that they require.
Body
The body of your business plan can be divided into distinct sections. These sections will break down the structure of your business. Move through these sections in any order or fashion that you like. It is impossible to effectively complete these steps in one draft.
Step 4
Provide a Description of your business. Begin this section by asking your self some general questions. Is this a product or a service? Is this a large or a small business? What type of clients will you supply? What times of the day or night will you operate? Are there any special circumstances which will be important to your business? Use this section to provide information about your businesses personnel. Provide a background of key personnel. Describe their skills, experience and their qualifications.
Step 5
Take advantage of a Marketing Analysis. This will be a detailed study of your competition. What does your competition provide in comparison to yours? What do they charge for their services or products in comparison to yours? What type of market is there for your business? Where will your business fit in? How will customers know about your business? Will you advertise?
Step 6
During this process, you will find that your business will need some type of Financial Analysis. This section should begin with a breakdown of your businesses assets. Begin a list of the things that you already have. Next begin a list of the things that you don’t have. You will want to include the salaries of individuals as well and initial inventory, building rent, utilities and supplies. Also include a 3-year profit and loss projection statement.
End Matter
As you have worked through the previous steps, you have probably collected resumes, rental receipts, legal papers and many other Supporting Documents. Include in this section any other important relevant proof of your business plan claims. You may have collected spreadsheets for your budget and charts for your marketing plan. Include these also. Use this section as proof of your efforts. This section will back up your claims to financial or granting organizations.