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Tips For New Entrepreneurs Launching A Business

Posted By Administration, Monday, August 20, 2018

Looking to launch your first business? This is an incredibly exciting period in your life, but you are also likely to be feeling a great deal of stress and anxiety as there are so many hurdles to overcome and a great deal of uncertainty over the next few years. In order to alleviate this stress and put yourself in a good position to succeed, there are a few helpful tips that any new entrepreneur can benefit from. It can be difficult to navigate the waters by yourself for the first time, but the following advice should help you to hit the ground running and have all you need to succeed.

Find A Support Network & Mentor

You do not want to go solo into this venture as it will be a huge challenge which can take its toll mentally. It is for this reason why you must have a good support network in place, but it is also helpful if you have a mentor who can guide you in these early stages. This should be someone with experience in launching a business (ideally in a similar field) - if you do not know someone, there are online communities and local groups that you could consider joining.

Don’t Quit Your Day Job Just Yet

You may be tempted to hand your notice in and give this venture your complete attention, but this is a dangerous move to make. Continue working until the project is starting to bring in some cash so that you can safely transition. It is also a smart move to have a rainy day fund tucked away so that if things do not go according to plan you are not stuck in a difficult financial position.

Get Finances In Order

It is vital that your finances are in order from the get-go as it can be challenging to tidy this aspect of the business up when you are up and running. You need to secure funding, draw up a detailed budget that carefully tracks expenses, understand your tax requirements and open a business account. Those with a poor crediting rating can open a business account with no credit check with minimum requirements (contact details, 18+, trading address, etc.). This is particularly helpful for new or young entrepreneurs who may not have a great credit rating.

Avoid Comparisons & Be Patient

It is very easy to compare yourself to similar businesses in your industry or startups that launch around the same time as you, but this is a waste of time and will take away your focus. Instead, establish realistic short and long-term goals and be patient - success does not come overnight.

Hopefully your first business will prove to be a great success, but launching a successful startup is no easy feat, and it may take a few years until you start to reap the rewards. The above information can help any first-time business owner to navigate the tricky waters early on and provide them with everything that they need to go on and succeed.

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Key Ingredients For Business Success

Posted By Administration, Wednesday, August 15, 2018

The biggest challenge for most business bosses or owners is keeping their finances in good health. It doesn’t matter what sector you’re operating in, all companies – large and small – face similar pressures in the race for survival. So, how do you keep up the sales, while also keeping your staff satisfied and efficient? Here are three key ingredients for business success.

 

Have a clear vision

 

Large or small, any business needs to have a clear vision – a core business strategy, which charts the progress of the company and sets out key targets and motivations for the coming months and years. Without this, any organization is going to be stabbing in the dark when it comes to developing the client base and the products and services being offered.

 

If you’re just setting up a company, this is certainly something you will be encouraged to have from the very start. Any mentor will tell you that a business plan is essential in terms of figuring out whether you have a potentially profitable idea or not in front of you. Compiling the document will also discipline you into putting all your plans and aspirations down on paper and establish the ways and means in which you seek to achieve them.

 

If you’re a boss within an existing, established company, you will need to understand the vision that’s already in place clearly and work with your senior management colleagues to adapt and change your priorities according to client requirements and market changes. You can’t stand still, otherwise you risk getting left behind.

 

Motivate your workforce

 

With a clear business strategy in place and with clients coming in, you also need to focus your attention on your workforce – those will be on the front line when it comes to selling and delivery your products and services. They need to feel appreciated, a part of the company’s success – and to want to stay with you for many years to come.

 

Achieving this comes through excellent support and training opportunities. For example, one of your staff may be keen to develop their human resources skills, or to take their training to the next level. You could look with them at options such as a CIPD qualification from Avado, an ideal qualification for your HR department. You’ll also want to ensure that you have a range of in-house training mechanisms in place, to help workers achieve the aims of your service delivery.

 

Look after your clients

 

Keeping your staff content is one thing, but you also need to keep your customers happy too. If you don’t have them, you don’t have a business. So, don’t just view your clients as a quick source of cash. You should be looking to nurture strong relationships with them, so that you have a commercial bond which keeps bringing them back to your company.

 

Selling a product or service is just the start of that relationship. Customers, like your staff, need ongoing support and advice. They also need great after-sales care, if any issues or problems arise. Don’t give them a reason to look for another supplier!

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Powerful Marketing Tools To Boost Your Business Potential

Posted By Administration, Thursday, July 26, 2018

If you’re looking to become more productive and efficient in your marketing efforts then using tools to help your processes can bring considerable benefits to your business. Marketing tools have been designed to assist in automating marketing tasks to free up time to concentrate on improving performance and minimizing errors. They are also created to help you deliver specific metrics in your company such as setting targets for attracting new customers, converting both new and existing visitors and growing your current client base. Depending on the goals of your marketing strategy, these tools often fall into categories that give you a basis to start from. To identify the areas you’d like to integrate into your business, take a look at some of the primary marketing segments that offer tools for success.

Social media management

Social media marketing has become an integral part of the marketing strategy for many companies in recent years, and it can often be an arduous and time-consuming task to manage several platforms at once for your business. One of the main aspects of social media marketing is to create a plan that identifies the type of content you need to post and the scheduling of each post. However, these social content plans don’t have to be manually imputed into spreadsheets and then posted to your platforms anymore, as the range of scheduling tools enables you to plan content and publish it automatically at optimum times. There is a host of handy software options to choose from, and each has free and paid plans to suit your business needs.

Customer surveys and feedback

Obtaining useful information from customers can be a daunting task especially if you are looking to ask specific questions to gain valuable feedback about your products and services. To help get the most helpful insights from your customer base, creating a survey is a great option. It’s also important to ask the right questions when designing your survey questionnaire, as lengthy and irrelevant queries will likely put people off answering it.

SEO tools

Search engine optimization (SEO) is an effective way to help drive traffic to your website. It should be an integral part of your marketing strategy and incorporated into your website in a number of ways. Everything from the content on your site to the speed pages load can positively or negatively affect how your business appears in popular search engines. As part of your efforts to improve your ranking, using SEO tools is a handy way to help make this process simpler. You’ll find software that provides a detailed analysis of your link profile to the type of keywords your site is appearing for and how popular they are in regards to searches. The breadth of tools available enables you to work towards making your site the most attractive to visitors and search engines, plus highlights specific areas you may need to focus on to change your position in the rankings.

Trend tools

We’d all love to predict the future but alas we don’t have a crystal ball, but for the next best thing using the selection of trend, tools are a great way to see what’s hot and what’s not in your industry. One of the best places to see what the world is talking about is Google trends, and being one of the largest search engines in the world, they often know what they’re talking about. This is a free service and enables companies to take advantage of topic analytics and web surfing behavior across the globe. As well as monitoring trends, you can monitor the data of your own business too. By using services to effectively analyze customer behavior on your website and also analyze how efficiently your business runs, you can find areas of your business, if any, that need improvement to ensure you are optimizing delivery of your business’ services at all times. Addressing performance issues through services such as Devo  can see you boost your business potential quickly and easily, with minimal effort on your part, with potentially a lot of insight to improve your business.

Email marketing tools

This style of marketing has proved a useful way to grow a company database, and with the range of software options available to host your database, it has never been easier to tailor your marketing efforts to your audience. Useful marketing email tools give you a range of features such as template designs that can be modified easily, scheduling functions and segmentation tools to target the right people. The beauty of these platforms is that there is an option for both smaller businesses and larger corporations to take advantage of affordable packages suited to their needs. The analytics provided by email marketing platforms also offers you a detailed insight into open-rates, click-throughs to links within the content and segmentation data. You also have options to resend to people specific people and target others that may have an invested interest in other services you provide. 

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5 Reasons Why Its Not Too Late to Start Your First Business

Posted By Administration, Friday, July 13, 2018

Age is just a number in business. You don’t need to be fresh out of college to launch an innovative new company. All you need is a great business idea and the passion to make your brand a success.

If you are considering launching a startup company, but are unsure whether you are past your best, you might just need a little nudge to help you on the road to success. Here are five reasons why it’s not too late to start your first business.

1.      You Have Plenty of Life Experience

While headlines might be dominated by young entrepreneurs enjoying great success, you shouldn’t rule yourself out of an industry just yet. That’s because various studies have found that entrepreneurs over the age of 55 are twice as likely as those under 35 to enjoy a higher growth startup.

It’s believed older entrepreneurs are more likely to succeed as they have life experience on their side. As a result, they have learned the benefit of following each step, no matter how boring it might be, and they will understand more about the importance of a strong financial and business plan.

2.      You Understand How an Industry Works

The chances are, you will want to launch a business in a field you’re familiar with, as you will understand how to enjoy great success in the market. If so, this will give you an advantage over younger entrepreneurs, who will lack your knowledge and experience.

So, while you might not know you can use a free logo maker to build your brand or have the first clue about running a social media campaign, you will have a firm grasp of an industry. With a little bit of research, everything else will fall into place.

3.      You’ve Found Your Passion

Many young entrepreneurs enter business with the sole aim of making a considerable amount of money. Yet they might lack a passion for their chosen industry, which could result in a business failure.

Older entrepreneurs will, however, have found their passion by gaining experience in different careers and industries. This passion could motivate you to make your new business a success, regardless of any obstacles that come your way. If you lack passion for an industry, don’t enter it.

4.      You’ve Failed in the Past

Everyone will experience failure at some point in their life, yet each one will teach a person a lesson along the way. The older you are, the more failure you might have experienced. As a result, you’ll have learned the importance of hard work and a contingency plan. You’ll also be aware that there is no point fearing failure, as life will go on no matter what happens.

5.      You’ll Attract Investors

With age comes wisdom, right? For this reason, investors are more likely to back your business idea. Investors don’t want to work with inexperienced, idealistic entrepreneurs. They want to invest in seasoned, sensible business owners who have a tighter control of their company. 

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How to Design an E-Commerce Store with Your Customers in Mind

Posted By Administration, Friday, July 6, 2018

Having an e-commerce store is very different from running a brick and mortar business. For those that are taking advantage of the many benefits of running an e-commerce site, it’s important that your priority is always the customer experience. This means that from the moment of your launch date, everything is in place and perfectly optimized to make the consumer experience as fluid as possible. When your website is the foundation of your business, it’s essential that you take the time to look at your e-commerce platform from a visitor’s perspective. Here’s how to make sure that your website design is the best it can be for customers to use.

The need for speed

Tech-savvy consumers have no patience when it comes to visiting new websites. The merest delay in page loading can result in an immediate departure, meaning that your bounce rates continue to soar and your sales continue to stay static. When the difference between making a sale and losing a sale comes down to mere seconds, it’s therefore vital that you make sure your e-commerce store is optimized for speed at all times. For those using e-commerce platforms like Shopify, take advantage of business advice from the Shopify experts at www.blackbeltcommerce.com, to make sure that your website design isn’t slowing down your website or your business growth. Slow loading pages will be the death of your business over time, so research ways to boost your site speeds and keep those visitors on your site long enough to make a sale.

Hidden costs

Everyone likes a bargain, but at the same time you don’t want to start slashing prices from the get-go. Instead, look for alternative promotions you can offer that will satisfy the need for a bargain in the eyes of your customers. One of the most frustrating elements for online consumers is the sneaky delivery costs being added at the final stage of the checkout. Little is more likely to cause sudden shopping cart abandonment. You can tackle this issue from day one by making certain that all costs are included as early into the checkout process as possible. Or, you could go the other route and offer cheap or even free shipping. This works best if the delivery costs are canceled when a customer is spending over a certain amount.

Use your reviews

If you’re just starting out in your e-commerce venture, then you may not have much in the way of reviews. As they arrive, you should use them. Online reviews are a better marketing tool than you might imagine, and by using them well, you can give your business a respectability and increased online presence with very little work on your part. The fact is that consumers trust reviews, especially those that are found on social media. That’s why Yelp is becoming more important than the Better Business Seal. Consumers prefer the authenticity of the customer review.

Running your e-commerce has the potential for great rewards, but there is work to do. Don’t overlook the consumer perspective, and make sure that you always live up to expectation. Failure to address the view of the customer is the fastest way to ensure that your business fails.

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