Tips for running business

Re: Tips for running business

Hello to all

Starting a business is often an extremely rewarding experience, although it's not always a profitable one — and therein lies the risk.

1 – When you’re first starting out, focus on creating a guaranteed stream of income for at least the first few months.
2 – Maintaining focus on a business whilst you’re surrounded by some of the most exotic scenery you’ve ever seen in your life can be hard; it’s easy to get distracted, lose focus on your business and fall into a false sense of security. You just have to remind yourself that if you don’t keep the income flowing in, you’ll have to go home and get a job…there’s no better motivation than that!
3 – The most valuable skill you can learn is marketing and how to attract clients. Once you’ve learned these skills, it doesn’t matter what business you run or how many times you change what you do, you’ll know how to attract customers in the first place and get the money coming in.
4 – Always ensure you keep the lines of communication open; if you’re servicing clients and customers from afar, you are going to need to be contactable.
5 – Consider multiple streams of income. Useful if one starts to dry up or you decide you want to drop one and start something new, multiple streams of income spread the risk of being left with nothing.
6-If you’ve no prior business experience, marketing skills nor have any idea about how to set up your own website/blog and market yourself online, then it might just take you a bit longer…but once you’ve learned these skills, you’ll have them for life.

Have a nice day

Re: Tips for running business

Thanks for this wonderful tips.This is very useful for all of us.

Re: Tips for running business

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I am very thankful to all for sharing valuable information with all. Please keep sharing more and more .

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Thanks

Re: Tips for running business

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His new book, "Lucky or Smart?," offers both a roadmap for starting a new business and proven methods for bringing creativity and passion into an existing enterprise. Peabody's tips from "Lucky or Smart?" will help point you in the right direction:

Persistence:
"Train yourself not to shut down when you hear the word 'no.' That is in fact just the time to really start fighting."

Professionalism:
"In every meeting, in every situation, you must always, always, always be gracious. The business world is a small place: what goes around comes around."
Day after big rally, stocks end trading mixed Caution returned to the stock market Tuesday as investors decided to slow an advance that has lifted the Dow Jones industrial average 475 points in five days.

"Learn to keep your ego in check. That's how you'll be able to distinguish the crucial difference between being lucky and being smart. Your ego is both the most dangerous and the most useful weapon

Re: Tips for running business

That's a Great tips Which You all Members Have Shared With us thanks For Sharing,all Of These Tips All are Very Informative.

Keep Sharing,
Thanks & Regards,
Jennifer

Re: Tips for running business

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Awesome Tips. Thanks for sharing these tips. These tips are really very useful...... I appreciate your post. you really doing great job.

Thanks
Have a nice time ahead.

Re: Tips for running business

Hello everyone

Thank you all for sharing such informative information. These tips are really useful to all.

Thanks for sharing

Re: Tips for running business

1) Do what you love.
You're going to devote a lot of time and energy to starting a business and building it into a successful enterprise, so it's really important that you truly deeply enjoy what you do, whether it be running fishing charters, creating pottery or providing financial advice.

2) Start your business while you're still employed.
How long can most people live without money? Not long. And it may be a long time before your new business actually makes any profits. Being employed while you're starting a business means money in your pocket while you're going through the starting a business process.

3) Don't do it alone.
You need a support system while you're starting a business (and afterwards). A family member or friend that you can bounce ideas off and who will listen sympathetically to the latest business start up crisis is invaluable. Even better, find a mentor or, if you qualify, apply for a business start up program such as The Self-Employment Program. When you're starting a business experienced guidance is the best support sytem of all.

4) Get clients or customers first.
Don't wait until you've offically started your business to line these up, because your business can't survive without them. Do the networking. Make the contacts. Sell or even give away your products or services. You can't start marketing too soon. (See Attracting New Business on a Shoestring Budget and Just Do These Two Things to Get More Clients for tips.)

5) Write a business plan.
The main reason for doing a business plan first when you're thinking of starting a business is that it can help you avoid sinking your time and money into starting a business that will not succeed. (See Why You Need A Business Plan for other good reasons.)

Remember, you don't have to work through a full scale business plan for each new business idea you come up with; my Quick-Start Business Plan, for instance, will let you test the potential of your business idea much more quickly.

6) Do the research.
You'll do a lot of research writing a business plan, but that's just a start. When you're starting a business, you need to become an expert on your industry, products and services, if you're not already. Joining related industry or professional associations before you start your business is a great idea.

7) Get professional help.
On the other hand, just because you're starting a business, doesn't mean you have to be an expert on everything. If you're not an accountant or bookkeeper, hire one (or both).(These Tips for Finding a Good Accountant may be useful.) If you need to write up a contract, and you're not a lawyer, hire one. You will waste more time and possibly money in the long run trying to do things yourself that you are not qualifed to do.

8) Get the money lined up.
Save up if you have to. Approach potential investors and lenders. Figure our your financial fall-back plan. Don't expect to start a business and then walk into a bank and get money. Traditional lenders don't like new ideas and don't like businesses without proven track records.

9) Be professional from the get-go.
Everything about you and the way you do business needs to let people know that you are a professional running a serious business. That means getting all the accoutrements such as professional business cards, a business phone and a business email address, and treating people in a professional, courteous manner.

10) Get the legal and tax issues right the first time.
It's much more difficult and expensive to unsnarl a mess afterwards. Does your business need to be registered? Will you have to charge GST or PST? Will you have to have Workers' Compensation Insurance or deal with payroll taxes? How will the form of business you choose affect your income tax situation? Learn what your legal and tax responsibilities are before you start your business and operate accordingly.

Re: Tips for running business

Hi Jessica,

Thanks for sharing such cool tips.
I think you must be having so much to share as you are very experienced.
I hope you share more of your knowledge and experiences with us here.
I am looking forward to read all your posts.

Regards
Frank Slade

Re: Tips for running business

I have recently started my own business so these tips are really helpful for me in long run