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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
An entrepreneur explores his business with great uncertainty about the future. Becoming a successful entrepreneur is not an easy task. It is complicated and a difficult one. There are numerous qualities which a successful entrepreneur must have in order to achieve big.
- Optimistic : A successful entrepreneur must have a strong belief in himself.
- Innovative : He must be creative and resourceful.
- Motivated : A successful entrepreneur must be highly motivated to achieve stable position in the market.
- Goal Oriented : Goal must be set with the determined purpose of the organization.
- Ability to acknowledge and change: He must be able to listen to each and every feedback of customers, acknowledge them and make changes to provide good service.
- Self- Disciplined : Self discipline is an essential feature to achieve success.
- Practical : Being practical is the most important quality which an entrepreneur must be able to master.
- Open minded : He must be open minded and be always prepared to listen and learn from everyone properly.
- Specialized : A successful entrepreneur must have deep knowledge about the business.
- Leadership : An entrepreneur must be able to communicate effectively with his employees.
Any one can be a successful entrepreneur just by following these simple attributes.
No one denies that there are great benefits of working from home but most professionals today get up early, get ready, barely grab a bite and have to rush through the pollution and traffic to their offices. In bigger city’s some travel for an hour or more to get to work.Virtual office services are an ingenious manner, by which this entire scenario can be reversed; it allows you to do most of your work from home or for that matter from wherever you are.
With today’s growing paperless trend and digitalization of almost all cooperate proceedings more people dont feel the need of buying a separate office space or renting one. Freelancers and independent business professionals all over the world are realizing the potential of Virtual Office services and are making the most of it. They choose to work from home and use a virtual office service to select a prestigious address for their firm, capitalize on all the benefits of such an address and that too at a much lesser cost.
Yes, every business or profession might not need a virtual office but for those companies who rely on making a good impression on their clients a virtual office might be that added edge which would let them outgrow their competitors. It may sound silly but its only human nature, a residential address can never inspire as much trust and confidence as to what a reputed business sector address would.
The concept of virtual office in its full form aims at sufficing all your office needs without ever having a physical office. It allows a group of individuals to work together for a common goal, as a single entity without ever having them under the same roof. In essence, you can work in total collaboration irrespective of wherever your team might be in the world.
How does that work” Availing to a virtual office service is not only limited to having a fancy address but includes a-la-carte mail delivery and forwarding services, a front lobby receptionist at your virtual office and full professional secretarial and administrative support service.
As a part of the package of the services you avail, you can choose to hire a virtual office assistant. Virtual office assistants are just like typical assistants but they work from their own homes. They do the job of a normal secretary, as well as office administrative work. They would coordinate your e-mail, fax, telephone and postal service.
Many a time businesses running from home feel uncomfortable entertaining clients at their residential address. It simply doesn’t seem professional enough and can give a wrong impression. Virtual Office companies provide a perfect solution to this; you can rent an office conference room for a set number of hours. They make a safe place to conduct any kind of business transactions. What is more, you get all the facilities available at a general office and request for more to meet your requirements.
In this modern era, the cost of living including physical materials and goods is going up higher day by day. There is no one who wishes to invest much on any material thing. Every one wants less investment and more profit. Everybody wish to have their own business but it is an expensive option to explore it swiftly. But there is no need to worry….There is a solution i. e. Virtual Office.
Virtual office is a one stop solution to explore a business without expending much on its physical availability. Why should one invest on a real street address at an esteemed center, mail address for sorting and forwarding it to other location, phone number, and live virtual receptionists to make communication more easier when virtual office is facilitating all these at a very less expense and in no time. Now one can start their business instantly without expending much time on a physical business set up. For small business holders, virtual office is a really wonderful idea to let their business flourish. It also helps in starting a new business as it requires less investment in office hardware. It is a flexible option for smooth telecommunication as it can vary according to client’s requirements and budget.
In this present scenario only, it has become an imperative solution for every business holder to provide virtual office solution with less investment. Virtual office is a long lasting, secure and the easiest alternative. Day by day working from home is increasing. Every body wants to earn more in less time and virtual office is the ultimate solution.
In conclusion we can say that the technology of having virtual office will gain momentum in the future. Having a virtual office is an excellent solution to own a business either it is big or small.
Getting investments is a very tough and time-consuming process, which may be news for entrepreneurs. Prominent small business advisers suggest thatentrepreneurs need to remain patient and keep their proposals simple in order to get the funding they want. This is an important step in attracting potential investors. Its a good idea to keep some members of the team away from the fund raising aspect so that they can focus their attentions onproductdevelopment. Investment seekers are advised to keep their pitches less than 25 minutes and go to venture forums to work on their presentation skills.
Get some useful hints to get small business investments. Visit http://www.gaebler.com/News/Small-Business-Finance/Patience-and-simplicity-key-to-getting-small-business-investments-19820476.htm
This post is courtesy United Virtual- the virtual office company
Are you launching a new internet venture” Online buyers are very cautious; they know internet is full of unethical sites whose intention is to make quick money and vanish overnight. Winning confidence of your customers is most important for your success. Work out ways to win their trust. It takes time but you can achieve it by implementing your fair business policy with full commitment.
Remember, we are in business with one objective giving best products and services to our customers. If you succeed winning their confidence, they will be pleased to call you back. If you have a team of dedicated employees who know how to deliver what your customer wants and how to handle customer queries in most friendly manner, you are sure to win their loyalty.
Want to have some useful tips on how to earn the trust of new customers”? Visit http://www.youngentrepreneur.com/blog/7-tips-for-earning-the-trust-of-new-customers
This coverage is bought to you by United Virtual- the virtual office company.
Competition is the biggest challenge in today’s market. It is a global phenomenon. To achieve the business goals, you have to be on top of ladder. How you achieve it? Just by offering best products and services to win your customers confidence. There must be some unique features in your product to give you an edge over your competitors. Personalized service policy will help you in getting more business volume and generate higher revenue.
Work out a professional manpower policy and recruit young, dynamic and energetic team. Your manpower planning needs to be goal-oriented. After all you are making investment in building your workforce. You may select which of different latest techniques meet your companys requirements. If you are looking for some clues about staffing procedures, visit
Entrepreneurship has a different perspective in modern business world. Human relation plays key role in success of any enterprise. A well organized work force of skilled and professional personnel can definitely take your business to new heights. This is most competitive phase of global economy and only those, who can produce best result, will succeed in achieving business goals.
Recruiting a result oriented team and developing them to meet the modern market challenges is a crucial issue before H R Teams of big business houses world-wide.
You can get some useful tips on how to use Internet to find and hire the best employees. Are you planning to hire the best employees by using social networking, blogging and other internet tools? Visit
Good client relations are one of the major driving forces behind the success of any business. It is generally the first encounter, rather, the very first impression that makes or breaks ones client relationships. Greeting a client is not a difficult task. It may sound complex sometimes, but the essentials remain the same, which stress on nothing, but a healthy interaction.
During your interaction with the client, you should try to put the client at ease and try to establish control of the dialogue. It is your easiness and confidence, which act as the convincing or trust-building factors for any business deal. In general, 70% of the success of any deal directly relates to a good interaction. One should always be his best while greeting a client.
At the outset, one must always dress in accordance to the situation, which is formal in most of the cases. One should also be particular about the place of meeting. Usually, peaceful, neutral places are the best meeting grounds as the possibility of disturbances are very unlikely in such places. It makes the client comfortable and free from all pressures. Make sure the place looks sounds and smells good. There must not be any distraction.
When it comes to the actual act of greeting, one should stand up and extend a firm handshake. If it is the first meeting, you may as well introduce yourself, and then get the clients name. It is always advisable to keep the conversation light in the beginning. For instance, you may begin with a casual small talk about the place of meeting or food items. Such small off-the-topic talks facilitate in making the client comfortable. Once the client is all comfortable, you may slide into the main issue of discussion. At the same time, one must always seek permission to ask questions.
Business talks must never be hasty in nature. It takes a while for the client to enter into a business deal with you; however, it takes only a second to break the same. One must be patient in answering all the queries of the client. In addition, eye contact is very important for creating interest. You must maintain a firm eye contact with the client to show that you are attentive enough. Smile is another factor that sets in a pleasant mood of discussion. As is popular, smile a lot, it costs nothing! In client interactions however, a smiling face may fetch you a lot.
Next, one should provide for tasty refreshments at regular intervals depending upon the course of meeting. Essentially, greeting a client serves as the fulcrum for all further business meetings. You must conclude with a handshake. The tone should be promising and confident in nature. At the end, the client should be sure of a good business relation.
You cannot learn or inherit the perfect way of greeting your clients. The more you interact and build upon the above-mentioned tools, the closer you get to know your clients and the faster, your business expands.
If you dream of a successful business, it becomes important to look for best office locations and spaces. In a business, it is always suggested that the office atmosphere counts a lot on the productivity from an employee. Organizations today are stressing not only on for better strategy in their business but also looking out for time-to-time change in the office spaces for better production.
To acquire success in business, organizations are choosing expensive office locations in dynamic cities around the world. With the rapid increase in the demand for good office locations real estate is emerging out as commercially powerful option over other sectors.
Since there is a great competition in the market over choosing the best office spaces, no business centers are leaving stone unturned in choosing well-suited locations and spaces for their businesses. Cities worldwide are getting flooded with expensive offices and no organizations feel difficulty in finding the best suitable office of their choices
Here we go with the list of places, which provide you with the most expensive office spaces in the world. Very first in this list comes Tokyo, Japan. With the annual rent cost of approx $164/sq ft, here landlords are coming out with many attractive packages like incentive packages which offer to provide in increase in lease length.
Next in the list comes London. The busiest city in the world is a great business hub for commercial business seekers. In London’s west end, average rent cost is approx $120/ sq ft. Due to less development space and wide population, it is expected that prices will bounce for the premium spaces.
With an average cost of $142/sq ft, Hong Kong, China stands third in the list. There had been a gradual decline of 35% in the prices of the most expensive locations in Hong Kong, still the office market remained active throughout.
With an overflowing experience in the office supply, Dubai comes next in the list of the most expensive office spaces in the world. An average cost of aprrox$116/sq ft, Dubai is one of the markets globally, which is overflowed with the office spaces available to it. Abu Dhabi next to Dubai is also a grand business hub.
Mumbai, India is fifth in the list with approx $95/sq ft. as an average rent cost of office spaces. Rental values declined due to economic slowdown and the corporate companies also dropped the idea of expanding their business due to this. But if you are seeking for good business outcomes, Mumbai can be an ideal option to avail expensive business space.
There are many other places around the globe where you can check out for expensive office spaces. New York, Paris, Dublin, Frankfurt are other big cities which reside good yet expensive office spaces.
A successful business is all about growing and looking forward beyond horizons. So if you are interested in buying an expensive office anywhere around the globe, you can look from the list above enlisting the most expensive office spaces in the world.