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Every company needs to take the risk of launching a product or service into the market and engaging in serious promotional activities to make sales. But you cannot do this without human resource. If you are running a big company, you may have a separate marketing department which needs highly qualified staff. However, problems can arise when you hire so many people without a slight idea of the roles each will play.
You can maximize on a small number of talented employees and achieve excellent results. But how practical is this? The best thing is to have a small team whose members have specific roles and tasks that will contribute to the job being done satisfactorily. Sometimes you can hire even when there is no need for new employees. The new hires can save you in future when the business is expanding and sales are growing exponentially.
How much a business is successful is not directly proportional to the number of employees it has. Actually, a small group of highly skilled and experienced professionals is much better than a big team of average performers. You should avoid comparing the success of your business with another based on the number of employees you have.
To know how effective your marketing is, measure the success of each campaign individually. You will know which campaigns are generating more sales and which ones are performing dismally. You can then direct more funds to what is bringing better results. It will not hurt to ask customers how they got to know about your product or service.
Have you tried to treat your customer service as marketing? This is the first business contact that customersexperience. How you treat your customers will determine whether they will move to the next step or retreat. It does not matter how small the number of people calling is; when you answer the phone, treat the person on the other end well. What you tell customers is what they will tell other prospects. Treat them nicely and they will recommend you to other customers. Pretend to be what you are not, and you will lose even the customers you already have.
Do not be afraid of taking the right risks. In some deadlock cases, taking risks might be the ultimate savior of the situation. Use your skill as an entrepreneur to assess the situation and make the right decision. On the same note, know when not to take a risk.
No successful business goes through a smooth journey; big gains and losses are made before a company gets to the top. What you lose doesn’t matter but how you recover from your loss is what does.
There are three things that will help you know which direction to take to ensure success after starting a new business or launching a new product:
- Find out what people like and do not like about your product or business. The earlier you get to know this the better before you dedicate more resources into the venture. Knowing this will help you avoid loses or keep them to a minimum right from the start.
- The feedback you get from your customers could take you to the next level or form a boundary between you and your competitors. The industry may be too congested but there may be potential customers who are still in need of the product or service that you provide./li>
- Whether you achieve what you expected or not, you are better than the person who is still dreaming. The fact that you made an effort is a stepping stone to success. Your knowledge is an asset and that is something that a dreamer does not have. Your assets are what will make your business succeed.
Sometimes you may be greatly disappointed. In some cases you may even lose the will to carry on. But why not take a different approach? Maybe your first approach was the problem. Look at your disappointment in from a different angle and try to come up with ways of making your idea, product or business better. You can come up with a solution and be better than when you first tried. You will get to know what consumers like, hate and prefer.
What happens when you can’t solve the problem? Learn to live with the fact that it may never change. However, do not hide in a cocoon; turn the outcome into an asset. Find out what you can do about not being able to change the problem. You could use the idea to sell yourself when looking for a job or turn it into a product or venture that your computer never imagined would have been.
Remember, successful people work with what they have. They never wait for the right time, the weather to be better or for the rate of inflation to go down. Actually, the truth is some of the things that you may be waiting for will never come. There will never be the right time to do something unless you create it. Start with what you have at hand. If something else comes along, embrace it and continue moving forward.
Use everything at your disposal to achieve your business goals. Be motivated and encouraged by obstacles and disappointments. It does not matter how many times you fall or how many disappointments you get; it is always worth trying again.
1. Be different
Being an entrepreneur means taking risks to build something that will improve the lives of the people in your market. You have to be different to stand out. No one is going to pay attention to a company that is doing the same thing as another company. You don’t need to have a physical product or app to make it big. Pete Cashmore started Mashable when he was 19. Today, his website is one of the leading technology sites on the web.
2. Don’t be afraid to change everything
Change is necessary and nowhere can this advice be more important than in business. Don’t be afraid to change your company or products to pursue an angle that will help you realize your goals. Dennis Crowley, Foursquare’s founder, had to adjust the app in the way that people used it.
3. Know when to stop planning and start doing
What sets entrepreneurs from the dreamers is doing. There is a time to plan and a time to do. Don’t overcomplicate matters. Start shipping as fast as you can and tweak your product as your market consumers it. Eric Ries outlines this notion well in the Lean Startup book.
4. If something doesn’t work, stop
No matter how much effort and finances you pump into your business, sometimes things will just not work out. Don’t be afraid to stop a product or even close down your company. Learn from your mistakes and move on. Don’t waste your time and resources hoping things will change when it is clear they wouldn’t.
5. Looks matter
Design is everything and this is what sets brands with similar products apart. Think about design right from your product to your marketing materials. Having your office, shop, brochure, logo or website looking good will give you the much needed boost in the beginning.
6. Learn how to follow up
No man is an island and so is no business. Relationship building is important especially when you are just starting up. You want to be on the good books of suppliers, industry influencers, product evangelists and so on. This can provide you with the publicity you need for your business to take off.
7. Always be learning
Don’t be afraid to get out of your comfort zone and learn new things. Take insight from other businesses and apply it to your situation. Tweak the information you get to fit your business and challenges.
8. Be confident in your product
Cyrus Massoumi, the founder of ZocDoc (the doctor-appointment scheduling site) went door-to-door hawking the product and was kicked by security guards out because he seemed not confident in his offer.
Entrepreneurship starts with drive and a strong work ethic. As a parent, you will want to foster within your child that spirit of independence and desire for success that motivates successful entrepreneurs. Of course, it is not always easy to pass on life lessons and this one may call for some amount of creativity on your part. Here are some tips for helping your children to become entrepreneurs:
- Put Them to Work
- Encourage Decision-Making
- Find Business Opportunities
- No Free Money
- The Value of Teamwork
- Marketing Skills
Teach them to write out their goals. This is one way to help them think in detail about what they want to accomplish and take serious steps to towards fulfilling their dreams. They should not only think about their goals, but also about the various steps they will have to take to get to them. They should start taking those steps as soon as possible.
Hire them at your business. If you are an entrepreneur yourself, this gives your children the opportunity to learn from one of the most important people in their lives. The fact that they are learning from you may help them to better grasp the principles on which business operates. Working for you will provide them with real-life examples of how entrepreneurship works.
Provide kids with the opportunity to make decisions. Being decisive and knowing the principles of good decision-making are essential for successful entrepreneurship. You can start out by allowing them a small amount of independence in managing their spending-money or ordering for themselves in restaurants. The goal is to help them to consider all the ramifications of a particular choice.
teach them to take advantage of business opportunities. Selling is the core of business and an entrepreneur will need to be comfortable with concept of commerce. The earlier you start teaching your children about selling, the better; they should be encouraged in small enterprises such as their own lemonade stand or a table at a yard sale. These things will help them to discover the basic principles on which all businesses operate.
Allow your kids to earn from chores. They should not be provided with an allowance for doing nothing; instead, pay them for being productive around the home or in your business. Not only will it encourage a strong work ethic, they will also be more careful spending money that they had to earn themselves.
Teach them the value of being a team player. Most of business involves working well with others; success often requires that an entrepreneur be willing to cooperate and delegate, and requires strong people-skills and leadership abilities. Skills at networking and developing contacts are needed to build a strong customer-base.
Teach them to market. Get them to pay attention to professional advertising efforts such as those used on television and the Internet; help them to see and learn from the various marketing principles used in those advertisements.
The recent rise in technology has whipped entrepreneurs into a smartphone frenzy. With most smart devices giving users access to a concoction of applications, it is no surprise that over 88 percent of entrepreneurs rely on applications like the following to help them manage business.
Rock The Post
This app is powerful for new entrepreneurs. Simply upload posts relating to planned projects, reach out to networks interested in swapping resources, and get your idea endowed.
Entrepreneurs have been relying on Mail Chimp to connect with their target audience since 2001. Extensive newsletter lists can be controlled and tracking data makes monitoring campaigns easy.
Hoot Suite boasts over three million users and allows for business maintenance when on the move. Use the integrated analytics to stay updated with social media presence.
E-commerce business owners can accept credit card payments out of office with Square. This app was created by Jack Tors, the co-founder of Twitter, and it can really help boost profits.
When you need to examine legal documents use Legal Zoom and avoid business disruptions, because this app enables you to gain access without lawyers.
More convenient than calculating transactions with standard methods, Expensify synchronizes purchases to credit cards so that expense reports can be generated.
Save time organizing trade shows and meetings with Open Table and reserve tables through your device in 150,000 worldwide restaurants.
Phone communications can be tedious but with Glympse, you can inform business associates of your location using Google Maps, with date and time of arrival included.
ToodleDo enables you to clean up your schedule in central locations by categorizing priorities, targets, task duration and to-dos.
Docstoc introduces various templates for documents, which can then be transferred to devices and accessed instantly.
About the Author
Jim Jacques is the President of United Virtual Office, which provides business owners with virtual office services to help them save money and grow their business. Virtual Offices include a prestigious business address in myriad U.S. cities, Virtual Phone Services, courier services and more.
Smartphones are one of the most important tools for a business entrepreneur today. A phone well equipped with the right selection of mobile apps is like a secretary, a personal assistant and an intern all rolled into one. Especially for small business owners and start-up companies, you’ll want to extract the most value from your smartphone as possible; you’re paying for data anyway! With these ideas, you can use your device to manage tasks, keep connected to your business and keep all your material current.
Manage tasks with simple, easy mobile apps. For a basic to-do list that can be shared with collaborators, Astrid Task/To-Do list provides a great organizer function, priorities and delegating options. AnyDo is another highly rated task management application. Both have won high acclaim; check them out and decide which works best for your organization style.
Stay connected with your business no matter where you are. The ability to access your business no matter where you are can make the difference between a big opportunity and a flop. For a high-end product, check out LogMeIn Ignition. This app will allow you to access any material on your office computer or laptop from your smartphone at any time. It’s a bigger investment at $25. If you’re not sure that kind of product would be helpful, you can try an app with a similar concept: GoToMyPC is a highly rated, but simpler version that gives many of the same capabilities.
Sync your data.One of the most exciting capabilities your smartphone has is syncing material to have the most up-to-date content for use with your clients and associates. If you love using Google Docs to develop content collaboratively, make sure you use the Google Drive Android app version. This gives you access to all your Google documents and other content, as well as the ability to develop content with feedback in real time.