Re: Small Business Tips

Re: Small Business Tips

Hi alston,

This is a brief but good advice and tips. Thanks for sharing,

You can also build traffic to your site by doing blog commenting, link building and SEO. You can also do SEM for your small business. Online marketing strategies are a huge help when starting out small business.

Re: Small Business Tips

Hello

1)Understanding the client: it may seem strange to start from here how do you know your customers before they have a business idea into practice. The answer is simple – your customers do business, so customers no business. If you have a business idea does not seek to develop the idea around what you think potential customers will like or need, but knowing that your customers really.
2)Passion: the passion here is not to be a fanatic about your product or service. But he has some interest in what you do. Most often, you'll be spending 15-18 hours a day working on your business first – usually for 12 to 18 months. You need to be constantly thinking of ways to improve and grow your business, besides being able to talk to everyone, everywhere.
3)Understand your competitors, every company has competition – direct or indirect. Think movies. They compete directly with the video rental shops or television at home.
4)Cash Flow: Many entrepreneurs enter the business world, with great ideas, but very poor understanding of the capital it takes to get their business on. Most of their prototype product or service and understand what it takes to make the product or service, but do not include capital required to manage the rest of 'organization – including marketing , employees ,insurance or supplies and any miscellaneous small expenses add up fast as the telephone, internet services, etc.

Thanks

Re: Small Business Tips

Hi

Protect your personal assets.
When you go into business for yourself, you are usually personally liable for all judgments and debts that the business incurs. This includes business loans, taxes, money owed to suppliers and landlords, and any judgments against the business as a result of a lawsuit. If you don't protect yourself, a creditor can go after your personal assets, such as your car and your house, to pay for these debts.

Make a business plan, no matter how short.
Understanding your profit numbers and creating a break-even analysis is the first step in making a business plan. For most small companies, the key portions of a business plan are the break-even analysis, a profit-and-loss forecast, and a cash flow projection. (Projecting your cash flow is key and will make or break your company: Even if your business is getting plenty of work or selling its products, if you're not getting paid for 90-180 days, you're not going to survive unless you've planned for it.) With a cash flow spreadsheet in place, as well as a profit-and-loss forecast, you can tinker with your business idea and improve it before you start -- and continue to use them after you start.

Get and keep a competitive edge.
Building a competitive edge into the fabric of your business is crucially important to long-term success. Some ways to get this edge are by knowing more than your competitors, making a product that is hard or impossible to imitate, being able to produce or distribute your product more efficiently, having a better location, or offering superior customer service.

Thanks
Have a nice time head

Re: Small Business Tips

Thanks for sharing these useful tips. I love these tips.

Re: Small Business Tips

Thanks for the tips.