now browsing by tag
Bill Brasky started small when he decided to start his own business.
You see, Bill wanted to open up a donut shop. Yep, just a regular old donut shop.
It turns out, though, that Bill had much bigger plans.
Although he started small, it didn’t take long for Bill to quickly begin making a name for himself. In fact, it didn’t take long at all.
Well, Bill wasn’t afraid to take chances when he first got started. He understood that in order to grow his business into what he wanted it to become, it was going to take hard work, confidence and the drive to not quit.
After about a month of being in business, Bill immediately began to go after and develop a business presence on the Internet, and it was one of the best moves he ever made. After a few weeks, he began to notice he was quickly moving up in search rankings. His phone also started to ring off the hook.
Today Bill goes to great lengths to maintain a top-notch business presence for his donut shop online. While he started small, his hard work ethic and desire to succeed has led his donut shop to become one of the largest in the country. And it all started with a little modest business plan and a very strong work ethic.
Bill’s Donut Shop continues to grow at a huge rate. To this day, Bill attributes his success to having a great business plan in place. Through having a quality plan, he was able to attack his goals without fear of failure. After all, he had taken such possibilities into account in his business plan.
The difference between the two lies in the ability to inspire your team, especially during difficult times. “Leader” and “Manager” are not one and same. A Leader is one who influences people to produce desired results whereas a Manager is a person who merely directs a team. Leadership also requires the ability to create an enjoyable work place. Most businesses face the challenge of proper management training. During an economic downswing, training programs are often the first to be eliminated to cut costs. In fact, it’s the wrong choice and reflects lack of foresightedness and vision. Most managers who have successfully undergone management training are likely to stay with their employer longer. The effectiveness of company leaders from the CEO and down is a crucial indicator for a company’s success. Business owners may face difficult times but they should remember employees are the most critical part of any business and true leaders can weather the storm by motivating their team to stay with them in difficult times. Want to know more about some of the core traits of a true leader? Read the article; Visit: http://www.entrepreneur.com/article/217494
Achieving $1 million in sales is a dream of every business firm. According to U.S. Census Bureau data, approximately 80% of all U.S. firms fail to achieve this figure. Getting to $1 million in sales is reaching a level of sustainability. Most businesses fail because they commit three major mistakes when they are starting and developing their business.
- Most entrepreneurs spend a lot of time in research and development, building a product without validating the idea with their prospective customers. One should consult as many prospective customers as possible by making cold calls to validate the idea of launching a new product. Discuss what exactly your product is meant to offer and how do you plan to solve their problems with your product.
- Arranging for adequate capital to meet the growth needs of your company is the second priority after your sales start gaining momentum. The most common type of financing comes from friends and relatives. Understanding the structure of investment and inviting equity partner needs serious consideration for the right growth of your company.
- Third major mistake that most entrepreneurs make is Reckless Hiring. Hiring expensive employees should be avoided to prevent drainage of funds. It is advised to seek a working partner for equity who will have the required skill and can offer useful advice when you are wrong. Outsourcing is the best option to find network of workers on as and when needed basis.
- Want to know more about these useful tips from Sramana Mitra, consultant and author of theEntrepreneur Journeysseries of books” Visit http://www.bnet.com/blog/entrepreneurs/how-to-build-a-million-dollar-business/747