Knowledge Management Success Stories

Tuesday, March 30, 2010

Hiring a Project Management Consultant Instead of a Project Manager

By Nadine Stowne

The job of a project management consultant is to look at your company's projects and help get them in order. A great many companies today are leaning towards hiring management consultants instead of using project managers. This can save companies substantial amounts of money as they do not have to hire additional staff. Companies that work in four season climates often use management consultants as they can be contracted to work on construction projects during the construction season. These project management consultants are hired to work on building construction, road construction, and other outdoor planning. The vast majority of management involves the construction industry.

Before your company hires a management consulting firm, they need to know how project managers are screened. The firm should have significant experience in the construction industry and should have a proven track record, providing a company with references of completed projects.

Those who work for consultant firms should be trained with the methodologies that are consistent with the firm. This protects businesses that hire consulting firms, as there is uniformity in the way that project managers go about their jobs. If one project manager leaves a consulting firm, another can just step in.

A consulting firm should also provide your company with progress reports on all projects. These reports can easily be generated through the use of management software and should be included in the consultation fee. A good management company will keep a business appraised of each projects status at all times.

Project management consulting firms that work in the construction industry should know about building codes, zoning laws, and planning intentions for the areas where they are working. This alone is one of the reasons that many businesses in the construction industry like to hire consultants. They can often get projects approved faster as they have experience in working with various municipalities and other government entities.

If you are considering hiring a project management consultant, look for a firm with consultants who are well versed in the field, employ consistent project management methodologies, and have proven success. Doing so will ensure they get the job done for you within the time frame and budget allowed.



IT Manager, Nadine Stowne understands how hi-tech project costs can get out of hand rapidly. When the need for project management services come up, Nadine can relax knowing that a project management company just like 120VC will routinely deliver projects promptly and within budget.

Article Source: http://EzineArticles.com/?expert=Nadine_Stowne

Sunday, March 28, 2010

How a Business Consultant Can Help You Grow Your Business

by: BMA Editorial Team A

Most people mistake professional business consultancy as a troubleshooting exercise that a company undertakes to manage crisis. Even the business owners, especially the small and relatively inexperienced ones, have similar notions and avail of their services only in cases where management looses control. However, services offered by professional consultants need not be bound by such limitations. Business consultants, in fact, are third party experts who influence how businesses, as well as governments and institutions make decisions.

Business consultancy services must be availed to look at issues related to business in a broader perspective. Consultants, helped by their expertise in a particular field, as well as being from outside the company, can see things from a point of view which the owner or the top management may fail to see, because of their being deeply involved in the business. Here, business consultants would weigh the pros and cons of the strategy and the situation, often with a fresh perspective, and advice accordingly.

Often staying out of the main picture, business consultants provide resources, which the clients may not be in a position to provide for them. Usually, this resource is expertise, which may come by experience, knowledge, creativity or special skills. Time and workforce are other resources, which the client might not be able to spare, which can be provided by business consultants. Business consultants are either management consulting firms or Technical consulting firms, with expertise in their respective areas. Management consulting firms advise on various aspects of corporate operations such as marketing; finance; corporate strategy; assembly line or other manufacturing processes; information systems and networks, data processing; e-commerce; and human resources.

On the other hand, technical consulting firms provide technical advice relating to non-management activities, including compliance with various safety and health regulations, technology application, and scientific knowledge in fields like biology, chemistry, and physics. There are many large consulting firms which provide expertise in more than one area.

Many small and medium enterprises feel that consultancy services are only meant for large organizations and are really not suited to smaller companies. Many also feel that it might not really be worth appointing consultants as they are a costly affair and that increased revenue as a result of their services would not be at par with the costs involved. Nothing could be further from truth, as big as well as small and medium enterprise benefit from business consultancy and there are many consultants who are more than happy serving smaller clients.

Business consultants advice on business start up, help make business plans, formulate marketing strategies. These are the services related to business management and it directly affects the bottom line of the company. Apart from these, there are scientific and legal consulting services, which help firms follow the legal aspects of the business that are required to be followed by law. For example, a manufacturing or utilities firm might hire environmental consultants to assess whether the firm is meeting government emissions standards, in order to avoid penalties before government regulators inspect the property in question. Necessary changes can hence be made before a potential problem arises.

Thus, instead of shying away from appointing consultants, what is required is to identify the right consultant which would help the business and who would have the correct expertise required in that particular case. This would not only help the company to focus on their core activities, but would also ensure smooth operations which will ultimately reflect on the profits as well as the overall growth of the company.


Article Source:
http://www.bestmanagementarticles.com
http://management-consulting.bestmanagementarticles.com


About the Author:
Business Consultant helps entrepreneurs squeeze mega-profits in record time by working less? We have proof of this Business Consulting achievement. Discover how by visiting: http://www.businesscoach.com/go/bc/business-consulting/index.cfm


Thursday, March 25, 2010

How To Avoid Investing Pitfalls

How To Avoid Investing PitfallsThe majority of us will, at some stage, have to make a decision on how to achieve the financial goals we set for ourselves. With rising disposable incomes, there are various options of selecting the best avenues for investment. While there is always the lure of making windfall gains, there are also stories of investment decisions having gone awry and investors losing all their capital and more. There are some rules to follow as you go about making investments from your hard earned income.

General Guidelines
  • Have a Plan: Set realistic goals before you even set out to invest your first dollar. The plan will depend on factors like your income, age, risk appetite, and expected return on investments. The higher the risk, the higher the return on the investment. Obviously, you would not like to put all your capital in high-risk investments. A balanced allocation of funds across all available asset classes will best serve your interests. This plan should be your guide for investments in the future.

  • Delay: Once the plan is in place, try not to delay the investment process while forever waiting for better opportunities to emerge.

  • Employer's Matching Contributions: Employers generally have matching contributions towards some plans. Make it a point not to pass these up as they enhance the value of your contribution substantially.

  • Professional Fees: An increase in investment opportunities and disposable income has spawned an entire breed of professionals, who make a career of managing your funds. While the really busy people may not have the time to manage their investments, most of us do have the skills and time to manage without professionals. This amounts to saving a tidy sum in professional fees.

Investing in Stocks

The guidelines given above are valid for investments in the stock market also. There are some additional pitfalls that should be avoided before taking a plunge into the markets.

The proliferation of broadband Internet access and the cutthroat competition amongst on-line brokerage firms has substantially lowered the transaction costs associated with share transactions. This tempts many to invest in stocks with a short-term horizon and high turn rate. There is no substitute for long-term investing backed by solid research. Avoid investing on the basis of tips.

Invest only in sectors and stocks you understand fully. There are always hot sectors and stocks that are in fashion. Many investors have lost their shirts while trying to make quick gains by chasing these stocks. Have a diversified portfolio, but avoid over-diversification.

It may not always be prudent to invest in a stock just because its price has dropped substantially and it looks very cheap. There are always good reasons for the fall in stock price and there is no guarantee that it will not fall any further.

Knowledge of technical analysis will help you to make an entry at the right time and save money.

Leverage or buying stocks on the margin can lead to substantial losses, if your calculations go awry. Avoid investing with borrowed funds.

Investment based on sound research, without leverage and for the long term can fetch you substantial rewards. Do have a plan with realistic goals and you should be well on the way to making a success of your investments.

Future Africa Recommends Individual Coaching and Mentoring Africa and Business Strategy Consulting Africa

Author:
David Gass, President of Business Credit Services, Inc. His company publishes a free weekly e-newsletter on Small Business Consulting at their web site http://www.smallbusinessconsulting.com

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Wednesday, March 24, 2010

10 Sales Tips for Small Business Owners

Sales Tips for Small Business OwnersRunning a business is easy compared to the act of selling. As a small business owner you started your business to deliver a superior product or service, not to become a salesperson. None-the-less you must master basic sales skills or risk losing your business due to lack of clients! Here are 1o tips to help you turn those inquiries into sales.

  1. Define the benefits to the customer. You've found their pain, now you need to come up with a cure by answering their question, "What's in it For ME?" For instance, if you are pet-care provider you "make it possible for a couple to enjoy their honeymoon in Hawaii without feeling guilty about leaving their pet."

  2. Qualify before you present. Okay, you know their pain and can cure it. You now need to know if the person on the other end of the phone or e-mail query is likely to buy from you. Take time up front to ensure this a good prospect for you. When you qualify your prospect you want to know:

    A.
    Is this person the decision maker?
    B.Does this person have a real need for what I'm selling?
    C.Does this person have the budget necessary to pay for my product or service?
    D.When does this person wish to start using my product or service?

  3. Only sell to the decision maker. No matter how well your product or service solves a client's problem, and no matter how wonderfully you articulate that benefit – if you are selling to someone who doesn't have the authority to purchase your product or service, you've wasted your time.

  4. It's about the relationship! Every interaction you have with the potential client either builds or destroys their trust in you. As Henry Ward Beecher said, "Hold yourself responsible for a higher standard than anybody else expects of you. Never excuse yourself." This a great mantra for anyone involved in the sales cycle. Trust takes a long time to build and it's very easy to destroy. Make sure every part of your relationship with the prospect is held to your highest standard.

  5. Preparation, preparation, preparation. Do you know what you want the customer do at every step of the process? Set goals for each step of your sales process, as well as overall sales goals for the month, quarter and year. Create an outline and script to get you from an inquiry to a sale. Tweak your outlines and scripts to fit each individual customer. One size does not fit all.

  6. Questions and objections are a natural part of the sales process. During your preparation compile a list of every possible question and objection that you might hear. Now spend some time creating a list of responses. Your responses should lead back to questions eliciting more information about your customer's pain.

  7. The issue of price. If the first question they ask is "how much does it cost?" Don't beat around the bush, answer their question right away with a statement like, "depending on the service plan you select our rates range from XX to XXX, I would like to spend a couple of minutes finding out specifically which plan is right for you." If they are comfortable with your price range, they will continue the conversation. Remember, part of qualifying is determining whether your potential customer has the budget to buy from you.

    BONUS TIP: By answering their question head-on you are making it clear that you are a 'straight shooter,' a great way to build trust!

  8. Make it easy to buy from you. Has this ever happened to you? You find a great product on a website or in a store, and you are ready, willing and able to buy, only to find out a) you can't find the "purchase now" button on the site, b) they need to find out if they still have the item, or c) the clerk is busy on the phone? Depending on your mood and free time you may wait, but more than likely you leave without your purchase. Is it infinitely easy for your customers to buy your product the first time? Make it even easier for them to make a repeat purchase!

  9. Ask for Feedback. No matter how good at sales you become, you must keep your 'edge.' Ask questions to find out what you're doing well, what your customers wish you did and why potential customers did not buy from you. Use what you learn in your preparation and goal setting process.

  10. Have Fun. Running your own business should be fun. You've dedicated your career to something you love. Let your personality shine and make sure you find ways to include your customers and associates in your good time!

The Sales process does not have to be a dreaded part of running your business. It's the best way to watch your revenue grow. Evaluate your current process and implement any of the missing tips to watch your sales success grow.

Future Africa Recommends Business Management Consulting Services Africa and Project Consulting Services Africa

Author:
Peggie Arvidson-Dailey is the founder of Pet Care Business University and the Pet-Care Business Success System™. She is the author of several articles on small business success,
and has been interviewed by Chamber of Commerce Radio about "Making Your Customers Crazy…About You." As a trainer and coach she helps people across the country create and build the pet-care business of their dreams. Visit http://www.peggiespets.com.

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Tuesday, March 23, 2010

Are you in Control of the Destiny of Your Business?

Are you in Control of the Destiny of Your BusinessFor busy entrepreneurs, finding the time to measure business performance is not always easy, but it is vitally important. The reason why so many businesses - particularly high performing businesses - measure things is to have more control over the destiny of their business.

To Avoid Knowing Too Late

In a training business, decision makers were evaluating whether an end of year revenue target had been met. No it hadn't, and they had lots of excuses, like how the market was changing and their competitors faced similar revenue downturns. If they'd had this conversation more frequently throughout the year, perhaps they would have had time to better understand what was happening in their market and find new avenues of revenue generation.

Annual evaluation is too late to give us choices about changing our course. Measuring frequently, even daily or weekly, can provide early warning signs about whether what we are doing is making the difference it's supposed to, so we have enough time to modify our approach if positive results aren't materializing.

To Avoid Knowing Too Little

My friend works in a wholesale technology company that employs about 25 people and has around 50 product lines. The Directors only measure typical balance sheet items. Staff members complain incessantly about product returns, warranty service workload and availability of spare parts. Do they measure any of these non-financial things? No. Management believe they don't need to, because they think they can see what's going on by walking around. Despite this, the same simple problems plaguing the business six years ago still plague it today.

Even the most efficient business owner can't be everywhere at once, and our physical senses (sight, hearing, touch, etc...) can't absorb or even detect everything that is taking place. A small suite of performance measures help us know far more about what’s going on with our business processes than our own eyes and ears ever could detect, with any reasonable amount of reliability.

To Know The Right Things

A manager in the rail freight industry faced a typical problem for that industry: they were running out of capacity to move all their customers' product. The traditional solution was to buy more rolling stock but this costs millions of dollars. So instead the manager measured and studied the way the system worked until he discovered that it wasn't how many wagons you had, but how quickly you could cycle those wagons through, that impacted capacity. So he didn't buy new wagons because he found a way to cycle the wagons through the system much faster, ending up with even more capacity than they actually needed.

How in touch with what is working and what is not are the decision makers in your business? Without constant measurement and feedback, perhaps you are not fully controlling the destiny of your business.

Future Africa Recommends Business Management Consultants Africa and Business Consulting Services Africa

Author:
Stacey Barr

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Monday, March 22, 2010

Starting A Small Business And Profits

Starting A Small Business And ProfitsMany people decide to become entrepreneurs to improve their financial situation. Unfortunately, some people believe that they become wealthy overnight. So how long does it actually take to make money? There is no definitive answer because it depends on various factors. Learning about these various factors will help you get a rough estimate as to when you will begin to see profits.

What Is The Nature Of Your Business?

What type of business are you starting? This will be one of the most important factors to estimating how long it will be before you see profits. Are you planning to sell services out of your home? Generally this requires very little investment if any at all. Thus you should see a gain in profit much quicker than you would with a service based business where you have to purchase a lease on commercial property.

Complex businesses such as department stores and the food industry can take months if not years to actually launch, and then add the time it takes to see profits. You will need time for license, equipment, personnel, and other needs.

Creating And Implementing A Marketing Plan

When you first start your business creating and implementing a marketing strategy is crucial. Even if you already have one or more clients, you will still need to market your business to keep business coming and promote the growth of your business. In today’s technologically advanced business environment having a website is not negotiable. It is the largest market for potential clients to be able to find you. Most industries have stiff competition so making it to the top of a search engine can take years.

Seeing the payoff from your marketing also varies depending on the nature of your business. Various service and product niches will be fiercely competitive and it will take much longer to break into the niche. This is also the case with luxury products and services, as the economy has reduced the ability to afford some luxuries.

What Is Your Capital?

Another key point in estimating how long it will take before seeing profits is how much capital you have to vigilantly market your business. Capital in this sense refers to money and time. You will need to have at least a nice lump sum of cash and quite a bit of spare time to invest into your business. The more time you invest in building and marketing your company the faster you will get see profits. Plan wisely and remember that many startups will cost twice as much time and money as you first assume. The simple truth is with any business start up profits will never happen overnight. It will take time but in the end you will be rewarded.

Future Africa Recommends Business Service Providers Africa and Strategic Planning Consultants Africa

Author:
Frank Smith, For additional information: Check out Mark McCool on 123People.com.

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Sunday, March 21, 2010

Business Reputation in Marketing

Business Reputation in MarketingYour business reputation is the most potent aspect regarding the long term success of the entirety of your business efforts. You reform your reputation each day with everyone your business interacts with. However, you have not one business reputation, but many reputations which are created in the minds of people who meet you in the execution of your business movements. Equally important to comprehend that you have a reputation with those who have no experience with your business but have grown aware of you from others.

A tune from Joan Jett from the old days is called Bad Reputation. Joan was a great musician of her age, but she also had good marketing sense. She positioned herself as the bad girl of the rock world, and the song Bad Reputation was a great success. In the ever edgy scene of alternative rock, a woman glorying in her bad reputation was a hot commodity. She probably bent the truth a little when singing I don't give a darn about my bad reputation as she obviously thought a good amount about her bad reputation, it was her marketing strength! She harnessed that reputation to achieve lasting fame.

Unfortunately for most of us, a poor reputation is not a viable marketing goal to develop our business. The exception besides musicians might be trial lawyers, repo men, or bail bondsmen who are known and valued for their intimidating aura. For the average person it just doesn't work like that.

You need to be very aware that all of your actions, and everything your workers do, in the name of your business adds to your reputation. There are no Mulligans in business. You can try to make things right that might have put your business reputation in a bad light. In fact, remedying problems properly can be an opportunity in disguise. However, you cant change the memory of what caused someone to regard your business negatively.

Every encounter with people in your business has one of three results in relation to your reputation. Two of these results are not pleasant, the other one is great!

The first one is an experience you have with a client, or potential client, in which you don't do anything really wrong, but you also don't set yourself apart from the other companies. This may not be the worst outcome, but it isn't far from it. You've succeeded in being only, at best, average in the customers view. You will likely be either forgotten in the future, or thought of as someone that did OK last time.

Ending number two takes place when you, or your worker, has screwed up something badly enough to make sure the client feels a burning anger toward you. This is the worst outcome for your business. Besides losing a client, you have insured you have also lost those who learn of your business through that client. The negative potential is gigantic. If you as a business owner are aware that you have permitted this to happen, then you have no right to complain about the negative impact it will have. However, a great many times the business owner knows nothing of what has occurred if one of the employees caused the problem, or not in their personal interactions with the customer. You cant assume that angered customers will make time to let you know what occurred. Many times they just never come back and no opportunity exists to correct it. If you learn of the problem, but don't correct it, then again you have earned the negative reputation it creates. However, if you take the opportunity to go to every length to right the situation, you will have used one the greatest opportunities in business to prove to a client that you care about their loyalty and will go the extra mile to display interest.

Ending number three is what every business owner should strive for in all interactions they have with people. You aim to make the customers, and potential customers, believe that besides supplying top-class goods or services, you care deeply about how services or materials satisfy a customers need. It concerns gaining trust with your clients so that they know you can competently, equitably, and faithfully fulfill their needs. After reaching this goal you are sure you've formed a loyal customer who's value far surpasses any purchase they may make today.

Aiding you in learning the secrets of creating such loyalty in your customers is the focus of our business. Hopefully if you possess a strong desire to hear the tricks of growing your business through using this strategy you will consider subscribing to our services.

Future Africa Recommends Business Modeling Africa and Project Management Business Consultancy Africa

Author:
Andrea Morris. Visit BizRave Inc. for articles and resources about customer relationship based marketing to grow the business of your dreams.

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Thursday, March 18, 2010

Sell Your Knowledge Turning Your Hobby Into Profits

Turning Your Hobby Into Profits
Everyone has a hobby of some kind - most people have several. There are people who collect stamps; people who make scrapbooks or create graphic designs with their digital photos; people who love horseback riding, hiking or bicycling. Maybe you do something that you don't even know is considered a “hobby”. Technically, anything that you engage in for fun that is outside of your occupational activities is considered a hobby- so chances are you have lots of hobbies!

Have you ever considered turning one of your hobbies into a business? You may be surprised at how virtually any hobby can be converted to profits, and without tremendous overhead or ridiculously high start up costs. What's even better, you aren't required to have a specific product to sell! In fact, you can make your knowledge your product to sell.

If you participate regularly in some sort of hobby, you are bound to know quite a bit about it. If you make scrapbooks of your family and friends, then you probably have extensive knowledge about where to get the best deals on your scrapbooking supplies, and how to create special effects on your photo album pages. Maybe you have magazines and websites that you refer to all the time for inspiration. You have the personal knowledge of what it took to get started in the hobby. For example, scrapbooking requires that you have access to supplies like paper, stickers, glue, photo albums and scrapbooking tools. Someone who has just learned about scrapbooking and thinks they want to start the hobby will need to figure out what they need to get started. You could offer this knowledge as your product to sell. Think people won't buy it? Think again.

If you've ever used a search engine to look up information, you know that it's time consuming to sort through all the data to find exactly what you're looking for. Often, you're given tons of information that doesn't seem all that reliable, and you have to determine what you can use and what you need to avoid! When you make your personal knowledge of a hobby your product to sell- you're helping everyone who wants to find that information without spending hours searching for it!

You do not need to have a physical product to sell in order to make a profit. In fact, having an inventory or having to create physical items from materials offers a lower profit margin than selling information.

Information products are among the top items to sell for a variety of reasons. They offer a low cost to get started, meaning you start earning a profit after just a couple sales. Informational products include eBooks, online courses or email courses, software, audio files, web sites- basically anything that can be downloaded from the internet. You aren't required to have an inventory and you can set up your business model to allow you to earn money by the work other people do for you.

So now, maybe you're thinking that this is all well and good- but you still don't have a product to sell! You haven't written an eBook, and maybe your writing skills leave little to be desired. Creating online or email courses are time consuming, and to create software you need special training. You can still sell your knowledge. Create a “package” of items that someone would need in order to get started in a particular hobby, and promote it as the “everything you need to know” about starting the hobby. Contact someone who has written an informative eBook on the topic; find someone else who has made an online video or radio show regarding it, and request permission to sell the items in your package. If they have affiliate programs, you can probably sign up for the affiliate programs and earn commission that way. Include your list of great providers for supplies or information that you refer to regularly, and anything else you know a person needs in order to get started in the hobby. This is a product to sell: selling your knowledge.

Once you've earned money from this type of information product business, you can invest in the creation of your own products if you want, or start offering more informational products that allow you to sell your knowledge!

Future Africa Recommends Project Management Consultant Africa and Invest in Africa

Author:
Antonio Thornton: Get the free Hobby For Profit Audio and discover how to start your hobby business today: www.hobby4profit.com/freeh4p

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Wednesday, March 17, 2010

Organizing Tips for Small Business Success

Organizing Tips for Small Business SuccessIf you discovered the bottom line in your business depended on the organization in your office, your reaction could range from complete composure to sheer terror. Organization certainly has an effect on your bottom line - and just as significantly - on your peace of mind. For the small business or home office professional, effective organizing can mean the difference between business failure and success. For the 11.1 million workers who have their offices at home, organization skills can have a significant impact on their personal lives as well.

At no time in history has there been a greater need for getting organized. There are three major reasons for this:

  • Information is accumulating at a faster rate every day. The speed of the microchip doubles every 18 months - with no end in sight. Every day we are bombarded with new opportunities and challenges. Having the right information at the right time can turn a prospect into a client, a disaster into an opportunity.

  • Not only do we have more to organize, but the demand to organize it continually increases. Computers, fax machines, cellular phones, and on-line services enable us - and require us - to do more than ever before. If I can e-mail you a question in 20 seconds, why can't you respond with equal speed? And if you don't, I'll move on to your competition!

  • Small businesses owners rarely have sufficient cash flow to administrative assistants to keep them organized, so they are faced with organizing themselves. Support staff that are available are given more and more responsibilities. Many entrepreneurs have no support staff. Streamlining procedures and eliminating unnecessary steps to minimize personnel time required to complete each task is essential.
Organizing effectively requires continually asking the questions: "Is this the best way to do this?" "Is this the best time?" "Are these the best people?" Let's look at six aspects of organizing any small office or home office:
  1. People
  2. Finances
  3. Information
  4. Things
  5. Space
  6. Time
Identifying the right person to do the right job is a key component to reaching your desired goals. That assumes, of course, that the desired goal is clearly defined and measurable! (If not, return to "Go!") If your company has a "staff of none," you have to wear a lot of hats. Outsourcing aspects of your business, from word processing, mailing, or bookkeeping to sales, marketing, or project management, is often very cost effective, and good organizing skills will significantly increase your ability to use that avenue. Using family members in your business can be a good strategy - and tax deductible. (My children started doing my filing when they were 10 years old!)

Lack of capital is often cited as one of the biggest causes of failure in a small business. Great ideas and products without solid financial planning, and more importantly, effective execution of that plan, will never reach the marketplace. It's often easier to save money than to earn it - keep those overhead expenses at a minimum. And it's cheaper to keep a client than to get a new one, so take good care of the ones you have (unless your client is expecting you to give an unrealistic discount because of longevity - in which case you may be better off finding a new!)

Research shows that the average person spends 150 hours a year looking for misplaced information. Identify what information you need to provide the products and services your company offers. Take a proactive approach. Don't wait until the filing cabinets are too full to file, but there's no time to make decisions about what to throw away! A few hours with an organizing consultant before there is a problem can prevent weeks of grief later on.

Many offices are filled with things no one uses, while unnecessary time and energy is spent looking for things you really need. Identify a "Office Organizing Day" - wear comfortable clothes and order pizza for lunch for everyone. (Give that old printer to a school or non-profit organization that doesn't have any - and, as a bonus, write it off as a tax deduction!) Repeat the event annually as a good business practice.

Offices everywhere are getting smaller. Organizing space requires arranging things in such a way that everyone can easily use the right thing at the right time. The best source of additional space are often the walls. Bookshelves, open shelf filing systems, and workstations with "working walls" can be a major boon to the perennial space problem. If you're working at home, make sure your "home office" is a place you love.

Creative minds (a requirement for any successful business) always have more ideas than the physical body can carry out. Recognize that fact and spend time planning to identify the most crucial activities. Working smarter, not harder, is in the best interest of business and family. The carpenter's axiom - "Measure twice; saw once" - is good advice for any business.

My definition of organization is very simple: Does it work? Do you like it? And, if what you do effects other people (and it will if you plan to stay in business), "Does it work for everyone?"

How long will it take to get organized? It doesn't matter - just start! The longer you wait to begin, the more time it will take, and the more difficult it will be. Remember that in any organizing process, things will sometimes feel worse before they feel better. To manage change is difficult. Human behavior is not like computer software, it cannot be installed. It has to be nurtured. It takes time to learn new behavior patterns. Forgive yourself when you miss the mark. The rewards of good organizing skills will be well worth your efforts!

Future Africa Recommends Strategic Planning for Business Africa and Consulting Change Management Consultants Africa

Author:
Barbara Hemphill is the author of Kiplinger's Taming the Paper Tiger at Work and Taming the Paper Tiger at Home and co-author of Love It or Lose It: Living Clutter-Free Forever. The mission of Hemphill Productivity Institute is to help individuals and organizations create and sustain a productive environment so they can accomplish their work and enjoy their lives. We do this by organizing space, information, and time. We can be reached at 800-427-0237 or at www.ProductiveEnvironment.com

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Tuesday, March 16, 2010

10 Step To Startup Success

Startup SuccessNothing is certain in business. Even with your great idea, thorough research and hours of work this rule will remain true. There is no way of telling if a new product will succeed, how investors will receive a start-up idea or whether a company will last past the one-year mark. However there are ways of increasing the chances of your business
success.

Whether it is trying to turn a web visitor into a customer, getting a purchase order out from a cold sales call or maintaining a stress-free lifestyle, you'll face a series of challenges and opportunities to make the leap to success. These steps will help you increase the odds of you beating the odds.

1. Build to Last

According to the SBA Office of Advocacy, over 50 percent of companies don't survive past four years. This is better that the outdated notion that 90 percent of start-ups fail in the first year. But the odds can still be against you, even if you plan for the long term.

However, serious startup entrepreneurs don't let those kinds of statistics stop them from realising their dreams. By staying focused and keeping the passion that runs in all entrepreneurs, you can survive through the bad times when others fail.

You can further improve your odds of lasting by building a strong management team. The foremost weakness many entrepreneurs have is they don't have strong, deep experience in the industry they are entering. You can overcome this shortfall by recruiting experienced team members, or getting experience yourself by working in your chosen field for a while before starting your business.

2. Get Investors

Venture capitalists fund just one of every 100 business plans they receive. Improve these odds by approaching the right investors. Check venture firm website to see if they invest in your industry and in companies at your stage of growth. If possible, get a reputable person to personally deliver your proposal. Someone the firm respects will get the attention of the venture capitalist, and the business plan
will at least get looked at carefully. Also, ensure that the presentation you give your investors is welled planned pout and delivered with passion. That will help you stand out from the pack.

3. Develop the Right Products

Most new products fail, primarily as a result of companies not paying enough attention to customers. You may develop a technology that does something faster or a little cheaper or maybe in a more high-tech way, but people don't buy products for those reasons. They buy products because they're the right tools for them. Research and talk with customers in depth and on an ongoing basis to find out what they need and, just as important, how to craft a story that convinces them your product is the one for them

4. Make Cold Calls

Only about 4 percent of cold calls are likely to turn sales. To beat these odds, you can generate better leads by carefully searching the market and warming up cold class with a blended marketing campaign of e-mail, regular mail and other channels. That should mean 12 percent to 20 percent of sales calls produce a hot prospect likely to buy. But sales will still come down to pure persistence. Finally, instead of just plowing through your cold calls, take time to listen to your prospects and allow them to express their needs.

5. Convert Web Visitors to Buyers

For every visitor who buys from the typical e-commerce website, 40 leave without ordering. Conversion rates for most websites are stuck in the low single digits. For the past few years they have been hovering around the 2.5 percent. What entrepreneurs need to do is build visitors' confidence and trust while measuring and testing to find ways to make navigation more intuitive. Also, highlighting key information areas such as shipping and return policies can increase conversion rates.

6. Reduce Turnover Costs

To replace an employee lost to turnover, it can cost from 50 percent to 300 percent of that employee's annual salary. Costs can be less for lower-level employees and highest for senior executives, but which ever way you look at it, turnover is no bargain.

If the area where you're business is located is sparsley populated or if you don't think the staff you are hiring will work out, and so you don't train them properly try outsourcing. Hiring well-trained motivated contract workers from around the country is one way of coping with a high turnonver.

Another way to reduce turnover costs is by training and cross-training employees thoroughly and developing career paths to keep them engaged.

7. Finance Yourself

Many a start-up entrepreneur has asked a bank for a loan only to leave shaking his or her head with the new-found knowledge that banks wont readily loan to companies that aren't established. Breaking this paradox requires starting small with whatever you can raise from other sources, growing gradually and building up both assets such as accounts recievable and your own personal equity in the business. This will then put you in an attractive position in the eyes of the banks.

8. Raise Your Net Profits

The average sole proprietorship returns just 21.5 percent of revenue as net profit. But startups can boost profitability by picking industries with better-than-average margins. Look towards emerging industries where demand exceeds supply and where they typically have high profit margins. An good example is the PC industry in the early years.

9. Put the Banker on Your Side

According to the U.S. Government Accountability Office,minority- and women-owned startups are significantly more likely to be denied credit. One way around this obstacle is to find a banker you can relate to and develop a personal relationship.

Recruiting a banking advocate can help overcome a lot of red tape and inertia.

10. Balance Work and Life

After staring a business, entrepreneurs are often challenged to maintian a life. A 2005 survey by Wells Fargo Bank and The Gallup Organization found that 57 percent os small-business owners work six days a week; 20 percent work seven days. The average workweek was 52 hours, and 14 percent took no vacation. But entrepreneurs can beat stress, as 67 percent were content with their work-life balance, and 84 percent would do it all over again.

Involve family and friends to create a support group, and join local organizations where you can find kindred spirits, such as your chamber of commerce or the National Association of Women business Owners. Build work-life balance into your business plan by knowing your work tolerance and picking a suitable business. If the industry norm is working seven days a week then make sure you are aware of that.

Future Africa Recommends Strategic Planning for Business Africa and Consulting Change Management Consultants Africa

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Monday, March 15, 2010

Love Your Business More Than Your Family

Love Your Business
Centuries ago when I attended Harvard Business School, I took a course on entrepreneurship. The professor was a brilliant contrarian whose ideas have guided the creation of hundreds of successful and innovative businesses. He said something on the first day of class that has stayed with me ever since.

He asked us, "Will all the married students please stand up?"

About half the class got out of their seats, and the professor asked them to leave. He told them that a family would get in the way of their success, so there wasn't much point in them taking his course.

In the end he let them stay, of course, but he wasn't kidding. That was his way of making an important point: If you're going to be successful, you've got to love your business more than anything else--even your family.

I've been thinking about that lesson recently because Valentine's Day is coming up. It's a lovely idea--an entire day devoted to expressing how much you love the people closest to you. By all means, make it an occasion to show your spouse, kids, loved ones that you care. Then get your behind to the office because that's where you need to be. Your family will still be there when you get home.

The same goes for other special days, like birthdays and anniversaries. You should absolutely make note of them--but not by taking long visits to the country with your spouse or going off on weekend getaways. That's what jewelry is for. Or treat everybody to a steak dinner. It takes less time, so you can get on with running your business.

I think of that old professor of mine every time I meet clients who fail to be fully committed to the success of their business. If you are not focused--if family, friends and loved ones fill up your busy weekly schedule--you are probably failing to deliver real profits for your company.

Your cell phone is for keeping in touch with clients and sales managers in the field, not for taking calls from your spouse throughout the day about what groceries to pick up on the way home. Cutting out early to take your kids to baseball practice three times a week, or picking up your Aunt Tilly or Uncle Ned from the airport, are unacceptable interruptions to success.

You can keep doing these things and waste dozens of hours each week. Or you can focus on the financial future of your business and work all day, every day. You are the only person responsible for fixing your business and making it better, and that isn’t going to happen while you take 14 personal phone calls a day and attend local Cub Scout meetings three-times a week.

Your husband or wife might squawk when you shut off your cell phone during meetings, and tell them only to call for an emergency. Johnny and Suzy might stamp their feet or pout when you don't make it to the baseball game or the ballet recital. But here's a news flash: They'd much rather enjoy great financial security than see you struggling for the rest of your life to make money that never comes.

Sometimes people who work from home tell me they have the best of both worlds; they get work done and spend time with the family. But I have found that, when pushed, they admit they are doing it half-heartedly, while watching a football game on TV with the kids or cooking the family dinner. If you can't be focused while working from home, don't bother.

Of course you have every right to a life, if you don't care about making money that is. You have your priorities, and I understand that. If you don't want to put your business before all other considerations, then prepare yourself for a life of financial mediocrity.

Love your business more than your family--it's not an easy or popular attitude to adopt. Often you will feel tremendous pressure to take time away from your business to devote to family matters. But in the end, the best thing you can do for them is to create the legacy of a business that is thriving and financially sound. When you're retired, wealthy, and able to spend Valentine's Day and other special occasions with your kids and grand kids at your winter home in Hilton Head, you'll be glad you devoted so much of your time to your first love: your business.

Future Africa Recommends Strategy Consulting Services Africa and Strategic Planning Resources Africa

Author:
George Cloutier is the author of Profits Aren't Everything, They're the Only Thing: No-Nonsense Advice from the Ultimate Contrarian and Small Business Guru (HarperCollins, Sept. 2009). He is the founder and chairman of American Management Services, a management firm that specializes in turning around small and mid-sized businesses.

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Sunday, March 14, 2010

Some Ideas of A Successful Small Business

Successful Small Business
You surely know that a small idea can lead to a great business success. The first movement is to think of an idea that would be suitable for the business market. After coming up with the idea, the next step is to put that idea into action. Of course, this is a very difficult step and having the idea is only the start of the journey. After that you will have to face many obstacles before being able to carry on with your business project. This is just the beginning of this process and there is a lot of questions you will have to answer before even start.

Some of the main aspects you have to concentrate on when you have business ideas are the abilities and gifts you can pour into the business. It is very important for you to be identified with your business project. Those ideas should be based on activities and actions you take pleasure in doing. For example, if we suppose that you dislike working in the open, landscaping business would not suit you. On the other hand, if you like working with children, setting up baby-sitting or tutoring business would be an excellent idea. In this case, without any doubt you business will be more successful because you will have put your mind, effort and also your heart on it.

Another vital step is to analyze the needs of a specific product or service in your region before setting up your business. Do people of your area need your product? Are there other business like the one you are planning to start? You should ask yourself whether or not you are the only one offering that service or product. If you are not, you will have to analyze the competence you will have to face. You have to think whether the service you are offering is one that customer would repeat, or if it is a one-time specialized service. Obviously, the former are more likely to succeed than the latter.

There are other aspects you have to take into account. These aspects are described below:

  • One of them is that if the idea is unique, you will reign the market. But if there is much competition, it will be difficult to enter into the market.

  • A second point would be if you can offer quality from the very beginning, otherwise, you won't succeed.

  • Finally, you have to think about your capital to start your own business. There are many business ideas that require little investment and bring great profit. Some demand research, such as daycare service, and others need a large amount of money to begin the business. So take this recommendation into account before investing all your money in a small business idea.

  • Finally, you have to think about your capital to start your own business. There are many business ideas that require little investment and bring great profit. Some demand research, such as daycare service, and others need a large amount of money to begin the business. So take this recommendation into account before investing all your money in a small business idea.
Future Africa Recommends Business Modeling Africa and Project Management Business Consultancy Africa

Author:
Nikita Vadodariya, Did you find this article useful? For more useful tips and hints, points to ponder and keep in mind, techniques, and insights pertaining to Internet business, do please browse for more information at our websites. http://www.allhottips.comhttp://www.bookstoretoday.com

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Thursday, March 11, 2010

Two Of The Biggest Keys In Creating The Online Business Success

Online Business SuccessEvery day, there are hundreds of people that want to start a small online business. So they come onto the internet and try to figure out what they need to do to make some money. But most people seem to miss 2 of the biggest things about how to start a small online business. Let me explain.

People come online and start doing some things but they are totally clueless about what they need to do so they just start doing everything that they hear about. This leads us to the first key thing needed to start a small online business and have it become successful. You need to make sure that you are getting training from someone that actually knows what they are talking about.

There is lots of different training material out on the internet for someone to get a hold of but most of it is just crap. It is theories and ideas that have never really been tested or it is something that has worked once for one person but then never has been duplicated. This is not something that all that great if you are putting your time and money into learning this. So make sure that the system works.

The other thing that people seem to really have a hard time with when they want to start a small online business is that they build a website that is not conducive to making money online. Most of the sites that are out on the internet are not sites that are all that good for selling things, they are more of a brochure than an actual sales funnel.

And that is what you want when building a small online business, sales. You want products to sell and if the sales funnel that you have set up does not sell your product all it does is just talks about your product, you are going to have a hard time making money.

So the two biggest keys in creating online success is getting the right training and building sales funnels that actually sell your product. If you take those two things and apply them when you start a small online business, you will see the success that you are wanting.

Future Africa Recommends Essential Business Process Modeling Africa and Investing in Africa

Author:
Steven Downward, a successful online business is easier to achieve than most people think. Check out this YouTube video on How To Start An Online Business so that you will totally understand what steps you need to do to create the success that you want.

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Wednesday, March 10, 2010

Going The Extra Mile to Business Success

Extra Mile to Business SuccessYou cannot fail when you give more than 100 percent. In whatever endeavor you are doing, always give more than one hundred percent. You will find that whenever you do this, your rewards will always be far greater than the extra effort you expended. Some people refer to this success concept as going the extra mile. What it means is that you need to give people more than they expect.

If you are working in your business and want to see it grow, the surest way to achieve it is by giving more. Customers are impressed when they discover a business that is innovative and gives them more than what they expected. Look for better and more efficient ways to do things. For example, make it easy to order from your site. Reduce the number of clicks to get to relevant information about your product or the order form.

Don't be afraid of giving information for free. This is a crucial step in the online world to building credibility and trust. A free report or a sample (or extract) from your information product will enable your potential customer to determine whether what you are offering is what they are looking for.

Always include some free (but valuable) bonuses with every product ordered. This also promotes the perception of getting more than what was paid for. In some cases, I have purchased products on the net because the free bonuses interested me more than the main product.

Ensure that your product delivery is quick and efficient. If you sell an information product, ensure that the customer can download it as soon as they have paid for it. Provide alternative download formats and locations so that all needs are catered for. Follow up a couple of days later to ensure they received their products without problems. If they had problems, resolve them straight away and provide an additional bonus to compensate for their inconvenience.

If your product needs to be shipped, provide your customer with alternative shipping methods. You customer can then choose how quickly their order is to be delivered and they can pay for the faster alternatives. Again, follow up to ensure they received their order on time and without problems.

Go the extra mile with customer complaints. This is an excellent opportunity to turn a disgruntled buyer into a life long supporter of your business. Acknowledge problems and resolve them quickly. Thank the customer for making you aware of them. You can be sure that if one customer has had a problem, then others have also had the same problem too.

For those working directly with customers, always give them more than they expect and you will generate more sales. Sometimes just giving a big, warm smile and courteous attention to the customers' requirements are all that is required. In the online world, prompt attention to email and courteous responses will boost your reputation and your sales. Spend the time to determine the customers' need and then you will be in a position to satisfy it. I stress to you be sure to concentrate on satisfying the customers need.

Have you ever been into a store and everyone is glum and does not want to serve you? Do you feel inclined to buy from them? No. But go into a store where they seem glad to see you and willing to help you and you feel far more like buying their products. The same applies to the online world. A well-designed web site with easy access to information will yield greater results. Make your web site user friendly!

Don't sit around waiting for people to buy. Ensure that your marketing communications ask for the order! Encourage responses through offering a strong guarantee. When someone makes a claim under your guarantee, honour it. This is part of the trust building process.

Make the effort to develop additional skills in your spare time. Studying about leadership or how to motivate people will always be of help in building your business. There is always something new to be learned when it comes to dealing with people and influencing them to buy.

However, never lose sight of your most important task right now - keeping your existing customers satisfied.

Future Africa Recommends Project Management Consultant Africa and Invest in Africa

Author:
Kevin Sinclair, CPA, of Personal & Business Success Resources. Visit his website at www.mlm.ksinclair.com.

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Tuesday, March 9, 2010

Home Business Marketing: Effective and Free Strategies

Home Business MarketingHome business marketing does not have to cost you lots of money. In fact, most of it can be done for free. I hardly ever pay anything to market my home business. "Well, don't you advertise?" you may ask. I do, but not in the ways that you are probably used to.

I have learned that effective marketing strategies are ones that fit my personality. They are ones that let me appear confident and happy. Otherwise, if I come across as nervous or stressed, why would that attract someone to my business? And that is exactly how I would seem if I were taking part in home business marketing methods that went against who I am.

I have also found that the most effective methods are free. Just throwing an ad up somewhere doesn't help people to get to know you. Before people become your customers, they need to know something about you and how you think. It makes sense. I like to buy from people I know something about and respect. Then I can feel good about supporting them.

I have found an effective (and free) marketing method to be writing articles, just like this one. As you read this, you have a glimpse into how I feel about marketing, right? You may be able to relate to what I am saying. That helps build trust. That is what you want to do with your business. You want to present it in a way that lets people get to know something about you and how you think. You want them to trust you.

Another great home business marketing tip is to do some guest blogging. Find other blog owners in your niche who would welcome you doing a guest blog post or you can even swap blog posts. That puts you in front of a new group of people that you wouldn't have access to otherwise. Of course, make sure your target markets are the same. Again, it's a free and effective way to market your business.

There are all kinds of marketing strategies that you can pursue for free and that will be effective. They may take a little time, but it will be worth it in the end.

Future Africa Recommends Business Management Articles and Business Management Consulting

Want to find out more about marketing your home business effectively? Sign up for Laurie's marketing course that is designed to guide you through creating a marketing plan that will fit your personality. See details at Home Business Marketing

Author:
Laurie Neumann

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Monday, March 8, 2010

What is the Best New Small Business to Start?

Best New Small Business to StartWhen thinking about starting your own business the first and most important question most people will ask is which one to pursue? What business will allow me to reach my goals and find success? While there are many options and countless types of organizations, there are three emerging fields that show the most promise in the coming decade. So what is the best new small business to start? Try these ideas:

1. Go Green

More and more people are moving to environment-friendly products that reduce their carbon footprint and keep their families and pets safer and healthier in the process. Products that offer value and fill the need for green will sell to a waiting public. Look to environmentally-safe cleaning products, clothing, home design, recycling, and small manufacturing without chemicals for ideas.

2. Provide a Service

As our society becomes more complex and fast-paced, the need for more specialized services creates many new opportunities for small businesses. Senior care, pet services, retirement planners, life coaches, anything that makes life easier for busy moms and dads on the go, and countless other niche services will all grow in need over the next decade. Find a service that you are passionate about and develop that business.

3. Master the Internet

The last great frontier in business is the World Wide Web. This amazing technology levels the playing field for small businesses as they are now able to compete with the big boys because of the Internet's global reach. Affiliate marketers; freelance writers, programmers, and developers; outsourcing of many types; and online direct sales are all growing and prospering when done with knowledge and expertise.

Best Ways to Ensure Profitability

Remember the secret to a successful start-up is to solve a consumer problem, do it with skill, and become an authority in your niche. No matter what business you choose, do these things to make sure you are profitable...

Go Online - Whether you have a bricks-and-mortar company or an Internet-based business you need to have a presence online to be successful. There are numerous ways to profit online:

  • Advertise - there are paid and free methods to promote your business on the web
  • Brand Yourself - use the Social Media to create a memorable brand and to identify your company with your target market
  • Provide Value - your customers need to find real value in your web offerings (coupons, important news, free content, etc.)
Find a Mentor - Regardless of the path you take a mentor will make that road easier and ultimately more profitable by allowing you to avoid the mistakes that others make on a regular basis. A mentor can also help you create a more sustainable enterprise if he/she is involved from the outset and can help you find what is the best new small business to start. If you can form a mentor relationship with a knowledgeable person in your field you will gain insight that your competitors will not have, putting you in a more favorable position in your chosen market.

Future Africa Recommends Project Management Consultant Africa and Invest in Africa


Next, to see what is the best new small business to start and find the most profitable ways to market any company, visit us at http://www.FamilyTimeProfits.com Fill in your information in the box on the first page to get our FREE 11-day Online Marketing Boot Camp. On the second page make sure to watch the Step 3 video to learn how Internet newbies are creating success with the #1 online home-based business on the web today.

Author:
Keith Hartung strives to be a servant of God, a committed husband, and a loving dad. He is also a top internet marketer and home business coach, working with people around the world to create financial success in their lives by leveraging the power of the Internet.

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Sunday, March 7, 2010

In Your Small Business, Listen More and Learn More

Small BusinessSpend more time listening in your home business. You may be surprised with some of the ideas people can come up with. Remember lots of people have great ideas and a great leader will listen and implement the good ones.

Without communication in your small business there is no leadership. It not only takes time to learn leadership skills but also to develop those skills. You not only need to have good verbal skills, but also listening and visual skills. These all make for a great leader.

Did you know that there are six facial expressions that are know world wide? They are happy, sad, fear, surprise, disgust and anger. If someone says to you, I have a great idea for your small business, and you reply with, Great, but have a frown on your face. You have just communicated to them that you really are not that interested.

Mind Drift!

The content of a message we deliver is made up of 55% visual, 38% audio, and 7% language. Only part of our mind pays attention when someone is talking, it is called mind drift. People talk 100 to 175 words per minute and they listen 600 to 800 words per minute. When others are talking, we tend to be thinking of something else. This is a huge problem when it comes to communication in your business. There is a way to counter act this. Read On!

Have you ever noticed that when you are listening to someone else talk, your mind starts to wonder off? Before you know it you forget half of what was said. To help stop this, ask a few questions along the way so people will keep focused on the conversation at hand. You will soon find that people will comprehend more of what you say.

Say you ask an associate to put an ad in the online classifieds for you. You tell them you want it to say, big sale just reduced our prices. When the ad comes out it says, prices reduced, no sale! That would defiantly be a lack of communication and would also hurt your business. A good rule of thumb is to put the ad you want published in writing, that way there is no communication loss.

A few very important things to master your leadership skills for better communication are:

Spend more time listening than talking.

Try spending more time listening to someone in your firm that has a great idea. You can implement that idea into your small business if you will really listen to the idea rather than talking. And if you are doing the talking, stop and ask the listener if they understood what you just said.

Never day dream while others are talking.

When someone is talking and we start thinking of something else our mind does not really hear what they are saying. Our mind just drifts along and all communication is lost. When you are doing the talking, ask them if they have any questions, this way you will know if they were truly listening.

Let others Talk once in a while.

Do not always dominate the conversation. Learn from what others have to say. Watch their body language, this will give you an idea whether they are receiving your information or not. You will not only be classified as a good leader, but a leader that people want to follow and your business will explode.

Confucius say: When you know something, say what you know. When you do not know something, say that you do not know. That is knowledge! With knowledge and good communication comes great leadership skills. Can you image how much better communication would be if listeners tried to understand first what someone is saying before trying to evaluate what they are talking about?

By learning how to communicate the right way and implementing some of these leadership skills into your small business, you are truly on your way to being a good communicator. In turn this will increase the success you have in your home business.

Future Africa Recommends Project Management Consultant Africa and Invest in Africa

Author:
Julianne Rowat, is an internet marketing entrepreneur. She has wrote other articles, press releases and has videos on motivation, self improvement, and FAQ about having an internet marketing business. Her husband is a retired fire fighter/ paramedic. They have 4 children and 6 grandchildren. They travel all around the United States in their motor home while working their internet marketing business. Their mission is to help others all over the world succeed in their own internet marketing business. You can read more about them in their blog at: http://www.juliannerowatsblog.com or check out their business at http://www.ultimatewealthfromhome.com

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Thursday, March 4, 2010

The 7 Deadly Small Business Mistakes You Must Avoid

Deadly Small Business Mistakes
Why do so many small or solo businesses fail? Is it because the owners weren't good enough at what they did? In most cases that's just not true. Most of them were very skilled and talented in their area of expertise. So why do people continue to struggle without enough clients or income? It's heartbreaking to me when someone gives up who has great potential and a realistic dream. I want you to succeed in a big way. In fact I'm passionate about it.

So I want to share the 7 top deadly mistakes I've seen repeatedly that can pull you down and how to avoid them.
  1. Believing that being good at what you do or even being an expert is all you need.

    There are two completely separate "tracks" you need to master. First you need to be good at delivering a quality product or service. That's a given. Many people stop here. They act as if they are still an employee working for someone else. They spend their time trying to deliver services instead of building a business, which leads us to the second track-building a business.

    Not only do you need to be good at what you do, you need to master the skills and mindset it takes to run a business, like strategic planning, marketing, sales, finance, productivity, priority based action, management skills, self-discipline and self-motivation. This is the key. Master these skills and your success will soar.

    The best way to do this is to learn from those who are where you want to be so you can learn the strategies they used to succeed. Without the Entrepreneurial skill and mindset, you cannot succeed.

  2. Wasting money on poorly crafted or unnecessary marketing materials

    Don't spend money building a website or crafting a business card, logo or brochure until you learn what makes them work to bring you clients. I've seen so many people waste money on an inefficient website with no traffic because they didn't know what questions to ask when hiring a web designer and they didn't know anything about traffic generation, search engine optimization or writing effective web content.

    Don't get your relative or neighborhood college student to design your website. If you want to be professional and are serious then you need a professional website that will get people to take action and will look professional. Nothing screams amateur more than a home made website. The same is true for any of your other marketing materials.

  3. Lack of marketing or sales mastery

    The best marketer always gets the most new clients. Even if you have a superior product, if you don't know how to market it effectively and then close the sale, you will struggle. In today's information laden world, you need to know how to stand out and broadcast your message consistently and effectively. You've got to learn the proven marketing strategies and systems that are working for your top competitors and you need to master them. And you need to make marketing a daily activity, not just something you do when you have extra time.

  4. Putting all your eggs in one basket

    I've seen businesses sink because they depended on only one or two high profile, high paying clients. This is a mistake. Always make sure you're in a position that if you lose one client your business can still survive and thrive.

    The other way this can play out is if you offer only one or two primary products and once a client has finished using this product or service they move on. You're then relying on constantly getting new clients instead of making the most of the ones you have. That's why I teach people how to build a product funnel to keep clients coming back again and again.

  5. Going it alone

    Whether you're small or solo, you're the owner and you make the decisions. But you still need a support team. Work with a coach or mentor who can help you stay on track. Consider joining or creating a mastermind group of successful people who can be like a vision team for you and who will support you and push you outside your comfort zone.

    The other way going it alone can sabotage you is if you want to control everything yourself and don't outsource. You need to be the person who sets strategy, creates products, and serves clients. The rest can be done by others and once you get this and follow through, your income will increase significantly.

  6. Mis-allocated time

    Spending time running from task to task with no idea of what's really a priority or an income generating activity can run you ragged and cost you your business. Surfing the web, checking e-mail constantly, and other time thieves need to be avoided at all costs. Track how many hours each day are spent on client generating activities or on servicing clients and how much time is spent otherwise. It's really eye-opening.

  7. Lack of planning

    I know you wouldn't take an overseas trip without detailed planning. So why would you run your business without one? When you have a vision and a plan you can check in regularly throughout the day and ask yourself "is what I'm doing supporting my plan and my goals". Plan out at least 6 months ahead-what products you'll introduce, what marketing you'll do, how much money you intend to pull in.

    The first step is to admit if you are making one of these mistakes. It's okay, we've all made them. Then start taking action right now to eliminate the mistake so you can experience the real success you deserve.



Future Africa Recommends Strategic Business Consulting Africa and Business Consulting Group Africa

Author:
Janis Pettit is a small business coach and marketing expert who has owned successful small businesses for 21 years and has coached hundreds of small and solo business owners, showing them how to dramatically increase profits and build wealth. Need help fast? Grab a trial membership in her Maximum Business Growth Coaching Club for just $7! Get the proven systems, low cost marketing strategies and personal mentoring that will transform your business. http://MaximumBusinessGrowth.com

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