4 Tools to Use in 2022 to Grow Your Business Faster

grow-your-business

Finding ways to grow your business requires a lot of resources, both in terms of time, knowledge, and capital. If you’re a business owner, you might feel stressed and overwhelmed by the daily administration tasks, and keeping up with incoming emails.

But, thanks to technological advances, businesses today can streamline their operations and make their work easier. Such tech tools can allow businesses to respond to market trends more efficiently, make strategic decisions, and create products to meet their growth objectives.

Below, we share some recommendations for tools to help you propel your business to the next level.

Social Media Automation Tools

We live in the age of social media and if you still don’t know how to use these channels to your advantage, the road to achieving greater business success might be more difficult for you. Most of the potential customers and clients you want to reach are probably using social media platforms and as a business owner, all you need to do is reach them and inspire engagement.

Social media is a powerful tool to influence customers’ opinions and businesses can use it to promote their products, get close to their target audience, and ultimately increase sales. Try to find your way into people’s lives and focus your efforts on attracting more followers. 

Many companies turn to Instagram automation tools to increase the number of followers. However, you need to be very careful when choosing the right growth tool. You will want to focus on one that prioritizes organic Instagram growth achieved by real and relevant Instagram followers.

Project Management Tools

grow-your-business

Project management in a company can be challenging, especially when you are trying to do several things at once. Thankfully, modern project management tools are available to help teams and work operations run smoothly.

Clock in the app with GPS is a great project management tool that will help your business, especially in the construction sphere. If you are working on a construction project, this feature will allow you to track employee clock-in times and their GPS location. This will help you to see if employees are working their required hours and also ensure that they are on-site when they clock in. In addition, this feature can also be used to track contractor clock in times and locations.

A project management tool can come in handy in every phase of the project. There are a variety of project tools available both online and offline that can meet different types of needs. The main purpose of a project tool, regardless of the size of the project, is to facilitate the work – from planning and management to budgeting and analysis.

The basis for using a project tool is to be able to plan and structure the work. A clear plan is often central for the project result to meet the anticipated expectations. Things like deadlines and budget are good to have in place before the project starts so that expectations can be set at a reasonable level. With a tool that enables planning and follow-up of these two basic limitations, it can be easier to deliver successful projects with satisfied customers.

Email Marketing Helps Grow Your Business

Email is one of the most popular communication tools today, despite the increased use of many other forms of communication.

If you want to grow your business faster, you should consider using email marketing. Top-quality newsletters can increase traffic to your website, improve communication with your target audience and bring you more customers. A very large percentage of marketers say that email is their most important channel to attract customers. Another advantage is that you hold the customer contact rather than it being in the hands of other companies like Google or Facebook.

Using email marketing pays off as it can lead to increased sales, traffic to your website, strengthened customer loyalty, stronger brand, or increased conversions. The best thing about email marketing is that it easily measures how many people have opened the newsletter, which articles they’ve read, which links they click on, etc. This makes email marketing a fast and cost-effective channel to work with.

Customer Relationship Management

A CRM system is an excellent tool when your company wants to improve its customer relationships. A CRM system can save, structure, analyze, present, and share important customer data, allowing your business to gather all customer data in one place. This makes it easier for employees to work efficiently and have the right information at the right time.

When choosing a CRM system, there are many benefits to take advantage of, especially when it comes to sales, marketing, customer service, analytics, and reporting. All companies dealing with customers should therefore use a CRM system as their employees can focus on their main task – regardless of whether it’s customer care or marketing of products.

Final Thoughts On Ways To Grow Your Business

Whatever you do, make sure to choose a tool that matches your business needs. Whether you need to manage projects more efficiently or keep track of customer data, get familiarized with all the features and functionality so you can grow your business faster.

 

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Start-up Loans vs. Small Business Loans: What’s right for you?

loans

It takes money to make money. How often have you heard that? Although some businesses don’t need start-up capital or funding to facilitate growth, most companies require financial assistance at some stage or another. Fortunately, there’s no shortage of options available for small businesses looking for a cash boost. Depending on your needs, you could use anything from a credit card to crowdfunding, to start-up loans or small business loans to get the necessary funds.

Most commonly, startup or small business loans are the options that entrepreneurs choose. These loans are ideal if you’re not looking for investors or outsiders to join your team, or don’t want to leverage personal equity. While both options get the job done, choosing the one that best suits your needs depends on the specifics of your business.

Comparing Start-Up And Small Business Loans

loans

The biggest difference between start-up and small business loans is that your personal credit history and finances are important factors when it comes to start-up loans. This makes it very similar to a personal loan, as your affordability is the basis of the qualifying criteria, and not necessarily that of the business.

If you have a good credit history, this loan is easier to obtain approval for. You can then further split up these loans to meet the needs of your business. You can obtain vehicle finance, mortgages, and installment loans.

Start-up loans are more flexible in terms of their uses, as you don’t have to link the funds to one specific purchase. In contrast, business loans relate to buying specific items, and using the funds for anything else will be near impossible. The terms of a business loan tend to outline exactly what the funds are for, and you cannot allocate them elsewhere.

The Approval Processes for Loans

Start-up loans are usually easier to qualify for and require less documentation. On the other hand, it usually takes longer to approve small business loans, and they require a mountain of paperwork.

Start-up loans rely on your personal credit history and financial status, so assuming you have a stable income, you should be good to go. You can, of course, use your business plan to support the application, although a new business will lack the proper financial backing to make much of a difference. These loans are often smaller and rarely exceed $50,000, with repayment terms capped at seven years.

Small business loans will look at both your personal and business credit scores, which makes them more suitable for already established businesses. One of the most important factors taken into consideration is how long your business has been operational, and its performance during this time.

This application process will require proof of profitability and cash flow. You’ll also need to state how you will use the loan. Sometimes, you may need to submit your business plan as a supporting document, along with any relevant legal documents, proof of your company’s structure and registration, tax certificates and any operational licenses and permits.

While the application process is more intensive and requires extra paperwork, small business loans tend to be far higher than start-up loans. These loans can exceed $1 million, and you can usually pay them back over a period of up to 25 years.

Advantages Of A Start-Up Loan

  • The approval process is far quicker
  • Funds are available sooner
  • Less paperwork required
  • You can use the funds on almost anything that your business may need

Advantages Of A Small Business Loan

  • The application links to your business, not your personal finances
  • You are not liable for outstanding payments
  • It can build your business’ credit history and work towards building a healthy credit score
  • The amount you borrow can be far larger
  • You can pay it back over a longer period
  • The interest rate will be lower

Choosing The Right Option For Your Business

loans

When choosing between a start-up and a small business loan, you need to factor in your business goals, credit history, and business history. You also need to calculate the amount of money you need, the interest rate you can afford, and your repayment terms. Take the following into consideration when deciding which funding avenue to pursue:

  • Established businesses looking for low-interest rates: As mentioned, small business loans are ideal, but the application process will take longer and it can be difficult to get approval. You may need to put up assets as collateral, and both your personal and business credit scores will be vetted.
  • New businesses looking for low-interest rates: The government offers small business loans such as the 7(a) program to encourage entrepreneurship and boost the economy. While approval tends to be easier and interest rates are low, the turnaround time on approvals can be lengthy. You also won’t need to put up collateral, and the government will often sign as a guarantee on the loan.
  • New business with good credit: You won’t qualify for a small business loan if you have a new business with no financial history. This is where a start-up loan becomes your best bet.
  • Instant cash flow: Start-up loans and personal loans often pay out far quicker, and you can complete the approval process online. Be sure to read the fine print before committing to anything, though. While the payout process may be quicker, the interest rates may not necessarily be favorable.
  • Bad credit: If you have a poor credit rating, there are alternative options that will secure your business credit. However, always do your research beforehand, and ensure you can meet the lender’s repayment terms.

Funding Your Business Doesn’t Have To Be Difficult

Funding is not all about loans, as you might be eligible for specific, additional funds or credits. But when deciding between a start-up loan and a small business loan, the easiest way to choose between the two is to look at the age of your business. If you have a well-established business, with a positive financial history and ripe for growth, a small business loan is a very viable option.

For newer businesses still trying to establish themselves, start-up loans seem to offer more positives, although they come with risk at a more personal level. However, as an entrepreneur, risk is all part of the process, and a start-up loan could be exactly what your venture needs to turn risk into reward.

 

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5 Best Small Business Ideas of 2022 (Low-Cost & Online)

best small business ideas

5 Best Small Business Ideas of 2022 (Low-Cost & Online)

Making money has never been easier. With so many different business ideas to choose from in 2022, it can be difficult to decide which one to pursue. Although you might think that following a new trend is risky, it is also equally rewarding.

The small business ideas mentioned in this post are extremely popular and have a huge demand. You must pursue a business idea that you are passionate about. It will keep you going when the going gets tough.

The fact is that you do not need a lot of money to start your very own business. With the right skills and initiative, you should be able to make good money in no time. The internet has made torn barriers to entry. Today, you have an easier time pursuing your interests.

Being an entrepreneur is the best thing in the world. You get to make decisions and benefit from increased flexibility. Take advantage of the following business ideas and become your own boss.

1. Dropshipping

One of the best small business ideas that you can cash on in 2022 is dropshipping. If you do not have the money to buy and hold inventory but want to make money selling products online, dropshipping is the way to go.

When starting a dropshipping business, all you need to do is select the right products to sell online. The ecommerce business model will allow you to generate a decent income on the side without having to manage any physical products. It does not get better than this.

Start by creating an online store and contact suppliers who can package, store, and ship your orders to customers. There are even dropshipping apps that you can use to conduct product research. Thus, you do not need to spend much time and can start working from day one.

Once you have found awesome products to sell, you can begin marketing them to find customers. The best thing about dropshipping is that you do not need to hold any inventory. But, you can always hold inventory if it is not an issue for you.

There are even online marketplaces such as Handshake that help small businesses find high-quality products for the best cost. Create a long-lasting relationship with suppliers and take your business to the next level.

2. Translation

There is always a demand for multilingual people. Anyone who can speak two or more languages can make easy money by starting a small business that monetizes on those skills. Look for clients on sites like Flexjobs and Upwork to grow your portfolio.

Once you have enough companies hiring you for translation services, you can always hire more multilingual people to expand your services. If you speak French, German, Japanese, Mandarin Chinese, Urdu/ Hindi, or even Malay, you can promote your skills online.

To ensure that more companies are exposed to your small business, you need to also promote your services on social media. You could even start a YouTube channel and utilize PPC (Pay-Per-Click) advertising.

3. Home-Cooked Food Business

Are you someone who loves to cook or bake? Then, you should make money out of it. Pursue your passion for cooking or baking by starting a home-cooked food business. Uber Eats and Grubhub are just two of the apps that you can use to sell your food online.

If you enjoy cooking, you could start a home-based catering business. The reason why it is a great small business idea is that people are always looking for a new place to eat. Hence, you could cater to them by offering home-cooked food.

Create a website to get started. You can cater to small events, companies, busy individuals, and so on. Everyone needs to eat. Therefore, a home-cooked food business is always a good idea. You can start your business with minimal investment and expand as your business grows.

4. Website Flipping

Another amazing low-cost and online business idea for 2022 that you can pursue is website flipping. It is a rather new idea that can make you easy money. All you have to do is buy a website that is already running, improve its content and design, and sell it to make a profit.

If you are a website developer or designer, it provides you with the perfect opportunity to make the most of your skills. There are various places where you can easily purchase and sell websites for a decent gain.

A great platform that you can use for buying and selling ecommerce sites is Exchange by Shopify. Once you have bought the ecommerce site, you can improve it for SEO, content marketing, and other tactics. Then, you can list it on the marketplace to generate more revenue.

For instance, you can purchase a carpet cleaning website and sell it online after you have made improvements. A company that has the same name, let’s say Carpet Cleaning , will buy the improved website from you gladly.

5. Online Tutoring

Do you like to teach people? Then, it might be time to give online tutoring a try. If you are an expert in a subject, you can create an online tutoring business: the more subjects you can offer, the better.

To start teaching, you need to have at least a bachelor’s degree in the subject that you want to teach. Therefore, you must have studied the subjects that you intend to offer. Otherwise, it would just be a waste of time.

There are various websites that you can use to find clients to tutor, such as Tutor.com. The secret to succeeding as an online tutor is teaching those subjects that relate to your core expertise. Share constructive knowledge and skills to make money.

Moreover, you can even take things one step further by creating an online course. It will help you generate a passive income while you continue offering private sessions over Skype or Zoom.

Best Small Business Ideas of 2022

Create the ultimate small business by using any of the ideas mentioned above. From dropshipping to online tutoring, each small business idea is low-cost and online. Therefore, you should not have any hassle getting started.

Author Bio:

Myrah Abrar is a computer science graduate with a passion for web development and digital marketing. She writes blog articles for Carpet Cleaning Eastbourne

 

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All You Need to Know About Taking Action

taking action

Taking action is one of the most challenging and rewarding things you can do. It can be challenging because it forces us to take responsibility for our lives. But don’t be scared by this; take a moment to think about how amazing it feels when you take action?

When you take action, it’s like a huge weight has been lifted from your shoulders. It’s like the feeling of finally being able to take a deep breath after holding it in for hours. When you take action, all those sleepless nights and thinking about it turns into having done something.

You’re probably asking yourself: “What action am I supposed to take?” If you’re not too sure yet, that’s OK. That means you’re still planning what to do next, which is great! You’ve already made a step towards taking action by starting this process and letting go of certain things weighing on your mind!

As always, take some time for yourself first before taking action because this will help you choose the best course of action to take. This is important because you won’t take any action if you’re not in the right frame of mind and it’s not what you really want to do.

Taking action can also be difficult because it will make you face your fears and insecurities. No one likes to feel vulnerable or afraid, but these are the emotions that push us forward and help us grow!

 What happens when you Take action?

When you take action, you’ll learn from your mistakes and build a better plan for the future. But here’s another thing about taking action: you might sometimes discover that what you thought was the right thing to do wasn’t, and vice versa.

If you follow your heart, it’s going to lead you in the best direction every time and help lead yourself towards reaching your biggest dreams!

How to take perfect actions?

Taking perfect action is something many people strive for, but in reality, it’s something that comes naturally with the right mindset.

Taking perfect action isn’t really about taking a certain course of action or trying to be perfect, but it is about being true and honest with yourself while doing things you’re passionate about. You don’t need to do anything special or amazing; all you have to do is get started!

You probably know from experience what it feels like when you do something you love and how much energy this gives you. In order to truly take perfect action, remember these three key steps:

Be honest and true to yourself: Before taking any action, make sure you’re doing so because it’s what YOU want – not because someone else tells you that it would be better for you or because you think it’s the right thing to do. Be honest and true to yourself!

Do things that bring you energy: What does energize you? When you try something new, how do you feel afterwards? What makes your heart beat faster, and not just in a physical way? Do more of what bring you energy. Don’t worry about the outcome; instead, focus on doing things that make YOU happy.

From trial and error comes success: No matter what type of action we want to take – starting a business, moving to another country all by ourselves – there are no guarantees for success. Treat every action as an experiment where you will get feedback from the outside world, making some things clearer while others become vaguer. This is a very good thing! Don’t be afraid of failures or mistakes; they’re actually the best way to learn and improve yourself.

Consider these three steps next time you want to take action, and trust that it will all fall into place at the right moment. And remember: no matter what, success comes from doing things YOU love!

Taking action in business

taking action

As an entrepreneur, taking action is crucial to success. As a small business owner myself, I’ve learned that even the most successful businesses have had some pretty rough moments that they’ve had to overcome. This is nothing new; in fact, every single business has been through this, and they all will face obstacles as well going forward in time.

I have learned that every business owner benefits from business coaching. However action takers get spectacular results! If you are an action taker you can advance your business quickly and run circles around your competition.

Taking action is also particularly important when managing employees: it’s much better for your employees if you are proactive and clear about what you expect from them. Many of them will be young people who don’t know exactly how things work yet. It’s easy for them to make mistakes without even realizing it!

Another way to take great action in business is by finding new customers outside your usual customer group: think out-of-the-box and look for people who’ve never bought from you before. You might be surprised at how much more exciting business becomes when you try to approach it from a less traditional way!

Taking action in relationships (and love)

taking action

Love is complicated. And sometimes, it can feel like finding the right person is next to impossible. Taking action in your relationship(s) is what keeps any type of relationship healthy and thriving, whether you’re dating or have been together for years!

Taking great actions also means saying sorry if something happens that makes things tense between two people: even if no one’s fault, remember that every apology should have an ‘I’m sorry’ AND a ‘thank you. This helps soften the blow and makes people feel more respected as human beings.

To me, taking action in relationships also means doing the unexpected: for instance, surprising your partner with a romantic trip or cooking them dinner after you come back from work instead of just watching TV together. This kind of thing doesn’t always have to be very complicated; sometimes, simple things like throwing away some trash without being asked are just as appreciated!

Another way to take great action in relationships is by supporting your loved ones when they face difficulties outside your own life. You could help them find a job or give them advice on some other business project that’s close to their heart. Taking this type of supportive action shows how much you really care and helps strengthen any relationship you’re in!

What are the Benefits of taking action?

Whenever I start to write an article, I like to think of what the purpose is. When writing about action, it’s very easy to get lost in some sort of ‘self-help’ mumbo jumbo and forget why we’re even doing this: for me personally; it’s just because I’ve always been a doer, not a thinker. Many people I’ve talked to over the years have mentioned that they have some kind of ideas and plans but don’t really take them forward. This is precisely the reason why taking action is so important!

taking action

 Below are some of the benefits of taking actions:

You create your own reality. As an example, those who are in a relationship and don’t do anything about their partner’s behavior that bothers them often find themselves thinking: “I really need to talk to my partner about this”. By not taking action, however, the situation will never improve! You’re able to change things for the better if you just take action.

Taking action makes us feel more alive! We become more confident, take on challenges and meet new people: all of which is an important part of growing as a person. Taking action helps get rid of bad habits. Next time you have a day where you’ve been lazy or sluggish – make yourself go out and exercise! This might sound incredibly simple, but for some people, it can be the exact kick they need to get started!

Taking action makes us feel important and in charge. Sometimes you have a day where you’re tired or just don’t feel up for it – taking action by doing something simple, like washing the dishes without being asked, will make you feel great about yourself when all of your chores are complete. You really did do everything!

 Getting going is half the work. So many people ask me how I got started with my blog and business: basically, I just went ahead and did it. No planning at all was necessary because this way of thinking means that not taking any action doesn’t work either; there is no middle ground here! If you’re still reading this, then you’ve already gotten over the greatest hurdle! If many people had the same talents, skills and knowledge that you do, they would have already done what you are doing right now. You can’t let your fear or worry stop things from happening; taking action is how to live life to its fullest!

Taking action makes us feel more powerful than money. I’m sure most of us have heard that saying: “Money doesn’t buy happiness”. We all know it’s true, but sometimes we need reminding … For me personally, whenever I just look at my bank accounts balance, all I see is so much nothingness. However, when I actually spend my savings on something nice for myself or someone else, it really does improve my quality of life! As you can see, even though it might not be too smart to rely on money for our happiness, there is no doubt that it makes things easier.

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Taking action and saying “yes” are the only ways to explore new territory. If you never take a chance and say yes to something, you’ll never find out what amazing things are in store for you out there! This is especially important if your ‘job’ is just being an employee in some random company; now more than ever, it’s necessary for people to create their own jobs because so many companies go under nowadays – this has given rise to the study of entrepreneurship; something I hope everyone will read about at some point in their lives. You can do so many things to make your own job – just one example is volunteering; have a look around for some volunteer opportunities in your local area.

Taking action will help relieve pressure. The times when we are most worried or stressed out are usually the moments where we need to take action the most! For example, I’m stressing over this article right now because of how long it’s taking me to write… however, any kind of physical activity (even doing something small like tidying up) really does help reduce our stress levels. Taking action helps us forgive ourselves. It’s easy to tell yourself that you shouldn’t feel guilty about something, but if you don’t take action, all those negative emotions will still be there! This is especially important when it comes to forgiving yourself for things you can’t change; we all have regrets! Taking action keeps us away from a passive lifestyle. A life where you’re lying on your couch all day might seem sexy and relaxed from the outside, but this really doesn’t lead to anything productive! Even though I’ve had my fair share of lazy days, I still try to take some sort of action in order to keep myself feeling alive and active.

Taking action gives us courage. It might be scary to do something new or step out of our comfort zone but taking that first step is always an accomplishment – even if it’s just asking someone where they bought their shirt! You never know unless you try. Without trying something new, our lives would be pretty boring…

Taking action is the key to a successful life. This might sound cheesy, but it’s true! If you haven’t already, please try to focus on improving yourself by taking some sort of action each day; join a sports club, study something new, give up alcohol for a while or say yes more often. It really doesn’t hurt to get out there and do something! We live in an amazing time where we can almost do anything if we want to – let’s make the most of this opportunity!

 Why is Taking Action Hard?

kung fu

There are many reasons why taking action seems nearly impossible for us to do. Some of the most common are as follows:

Feeling lazy. If we really like our hobbies, this isn’t a big deal;  it’s only hard if something is boring or there’s no fun involved!  The creation of entertainment was one of mankind’s greatest accomplishments – without it, we would’ve destroyed ourselves thousands of years ago! Still, three things that have always motivated me to get off my butt and take some action (in order to combat boredom) are staying in shape, working towards something meaningful and finishing something you already started. Achieving your dreams can be scary, but once you give up on them, you’ll never know what could’ve been!

Lack of patience. I’m the type of person who likes to get things done as soon as possible, which usually means no procrastination. However, sometimes it’s better if we don’t rush things; maybe you’re bored because you’ve already been active for so long? Doing something that takes a lot of time is great, but taking that big break will help keep you going strong in the end (I recommend taking a 5-minute breather after every hour). Even when we’re working hard on something fun, we can easily get tired – so make sure to take a rest before pushing yourself too much. Have you ever started watching an awesome TV show only for it to be cancelled halfway through? It sucks… Just take it slow!

This point is related to the previous one, but if you want instant results, you’re going to be disappointed. When it comes to accomplishing our dreams or doing something new (for example, meeting a bunch of people), remember that just putting in the hard work won’t get your life instantly perfect – not everything works out as quickly as we expect them to. Keep working at it, and never give up!

Obstacles are so fun… right? As cool as they may seem when watching movies or cartoons, real-life obstacles suck really hard and prevent us from achieving our goals. Even if you feel like your obstacle can be easily overcome by taking action, there’s always a chance that this might not happen! Be prepared to face multiple obstacles and always remember:

When taking action, you will be rewarded. If you don’t receive a reward after a while, maybe your goal wasn’t rewarding enough, or there’s some sort of problem that you can fix; for example, I almost never finish things – so setting shorter goals helps me feel better about myself.

 What Should You Do Now?

taking action

If we want to take action in our lives, it’s important that we’re aware of what we should do next. Maybe the topic of this article is already very familiar to you, but just in case… here are my tips & tricks on how to get going:

1) Start with small actions. Think about something easy and fun for you to do today.  If you don’t know what to do, maybe you can just start by going outside and walking around the block (this requires no preparation but will make a difference). Don’t worry about how small it is – just get started; if we take action on a daily basis, big things will eventually happen.

2) Celebrate whatever you did. I would even give myself some sort of reward for taking action! What happens after that?

3) Try something new every day. You could be an expert in everything there is to know about sports cars and still want to learn more; every day, we’re faced with so many opportunities – remember that Fortune favors the bold!

4) Visualize yourself succeeding. Even if we know that it takes more than just hoping for something to happen, it’s always a good idea to try and picture yourself being 100% successful (in sports, in school, whatever it is). That way, you’ll have an easier time coming up with solutions when things don’t go your way.

5) Ask others what they think. If you’re still feeling lost after reading this article, maybe someone close to you can help? Sometimes we feel like we know what we want, but the reality isn’t that simple; even if others don’t give us a clear answer or advice, talking about our problems should motivate us towards figuring them out!

6) Execute. This is the hardest part for almost everybody, but why stop now if you’ve made it this far? Just take that first step… (try putting one foot in front of the other)

7) Relax and have fun with whatever you’re doing. Taking action will never be easy for us – oh well.

8) Figure out what’s holding you back from achieving your goal. If we want to become good at something, we need to look into our potential issues: am I not trying hard enough? Am I only working on something because someone else wants me to do it or because I want them to like me? What could be causing some of my bad habits? Be honest!

9) Ask yourself how you can better understand yourself. Most of all, don’t forget:

Don’t let your past failures affect your future actions. If we make mistakes or even fail once, it doesn’t mean that everything’s over – just learn from your errors and go on! Failure is nothing but an opportunity to find out why something didn’t work and how you could do it differently next time.

What Will You Do Next?

Now that I’ve shared some of my best tips & tricks on how taking action has changed my life for the better, I would like to know what you would do next? If you’re here reading this article and not just skipping around (which is awesome, by the way), then that means you also want to become more successful – so what’s your plan?

Are you going to think about taking action tomorrow, or are you going to put on some music and take a break right now?

If this advice has helped you out somehow, why don’t you share it with others?   Sharing is caring.  Thanks for stopping by! Until next time… Here’s a great blog on time management.

 

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5 Tips for Negotiating with Suppliers

negotiating with suppliers

How do you handle negotiating with suppliers? Any business owner needs to have prerequisite skill requirements and one of the most important and actually the most critical, we can say, is communication skills. In leading a business and pursuing its goals and objectives, effective communication is key. Whether you are speaking or writing to colleagues, clients, or your suppliers, the art of communication needs to be applied to ensure a smooth flow of conversation, elicit adherence to your command or order, and eventually materialize your intent and desired outcomes. Fostering good business communication skills pay off with a healthy working relationship between you and your stakeholders. This the ultimate roadway to improving everyone’s productivity, efficiency, and morale.

The biggest challenge, however, in business communication is the need for negotiating. In a textbook definition, negotiations are a way to resolve disputes and it is often associated with various terminologies like settlement, bargaining, agreement, and collaboration. While these words pose a heavy and taxing connotation, they should be taken lightly and positively as any negotiation indicates a chance to turn tables and leverage the business game. A successful negotiation, especially with suppliers, can have a positive effect on your company’s financial gains or simply improve the quality of the goods and services you deliver.

Often, supplier negotiations are a little tricky and are tagged a mind game because suppliers are put at a superior level in consideration of their power over the buyer. Because of this, they might take control of your dealings by pressuring you, raising prices, lowering the quality of the products, or reduce product availability.

Luckily, you have this list of negotiating tips to ensure you can shake hands with your suppliers and close a deal that is favorable to you.

5 Easy Steps to Negotiating With Suppliers

negotiating with suppliers

Invest in rapport and positive feedback.

Like you would with a client, you must also put an effort into building a good work relationship with your suppliers. In building rapport, suppliers can be provided with the idea that it is not only their business that is of interest to you but their professional companionship as well. Any kind of relationship guarantees loyalty and this is a great way to surface that subliminally. Meet your supplier face-to-face and keep your conversation within a 60-40 rate. Sixty percent business and forty percent personal. Halfway through, throw in positive feedbacks you have heard and what impressed you just so that he knows your considerations in tapping them. Perhaps you can also express that you are interested in how they manufacture their goods so you can be invited over or their plans for development and expansion. While you are at it, you can reciprocate this with an invitation to some of your company parties or events to ensure he understands that you do not just always mean business but a genuine partnership.

Do your research and expand your options.

However, keep it to yourself. Let your research be your guide whether or not you are making a good deal out of your negotiations with your supplier. Research should always be taken to your advantage especially for your position in the conversation. It pays to know if the price is worth negotiating for or when the other suppliers will not make it hard for you. It is still business anyway. If it is a hard sell or maybe after 2 or 3 meetings with them, respectfully mention that you will also get a quote from other suppliers and make decisions based on competitive pricing. That is if you find them too stiff or tough.

Tell the supplier what is in your deal for them.

In your meetings, you might want to cite ways where both of you can benefit from the deal you are offering and you can also indicate this in your agreement. Suppliers like early payers so you can capitalize on this advantage in your offer. Tell them you can pay early, give a huge fraction of the sum for the down payment, have him offer a discount for bulk purchases, and other ways that he might find a great benefit from. In terms of delivery, maybe he can let you have the price you want if you will be the one to shoulder and arrange the pick up of goods on your own. If you can place an order early and do not require fast turnarounds, it is more likely that they will keep your business. If you can make them understand that dealing with you can be much lighter than their other partners, it will be easier for them to accept your offer.

Be straightforward about your offer.

Suppliers appreciate it when you are straightforward especially if they are always after time and money. If they value any sale, they would make it possible with your deal. After your introduction, you can tell them how much your budget is. This can help them make a plan on how they can work on it and help you. Let them know the areas where you can allow a healthy compromise.

Allow time for both of you to think it through.

Normally, suppliers would ask you about your lead time and schedule and you might want to share with them an honest and accurate timetable so they can also provide you with their projection. In your meetings with them, ensure that all the information you think they might need in making a decision is provided so that they can go back to their office and specifically tailor an offer for you. Allow them time to process everything. Of course, they do not want to say yes right away and then bail out of it. Take this time, as well, to make a backup plan in case they might turn your offer down.

Negotiating with suppliers is vital to the success of your business. Without them, you will not have anything to deliver to your clients. This is why you must let your silver tongue roll and do its magic. Be mindful of how they react to your statements and ensure each meeting warrants a negotiation. If you noticed a certain disinterest at the onset of your conversation, you might have a hard time but if it seemed like they are open to some compromise, the negotiation will be worth the try.

Here’s an article about improving your cash in your business.

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Natasha Barbeyto-Castaño is a beauty, wellness, and lifestyle writer. She took up Fashion Design and Merchandising in college and was hired as a personal shopper for a high-end department store right after graduating. Writing for the beauty and fashion sections of a society magazine and being head of content for a clothing company kept her busy before getting married and having a little boy. She learned to read at the age of 3 and wants her son to grow up sharing the same love for books. Nowadays, this organic wellness nut and attachment parenting advocate balances working from home and being a housewife. She enjoys watching psychological thrillers and foreign-language films with her husband during her free time.

 

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How To Grow the Average Order Value of Your Online Business

All online businesses want to grow revenue. Most marketers think that the best way to achieve this goal is to find more customers, but it’s not the only approach that can help, and it may not necessarily be the best solution. Online business can increase their revenue by attracting new customers, but customer acquisition requires some investments, and sometimes, it makes sense to approach the problem in a different way. For example, you can also increase revenue by increasing the average order value.

Average Order Value (AOV), also known as Average Basket Value (ABV) is a parameter that has a direct impact on your revenue. If you focus your efforts on your AOV, you’ll be able to get more value from your existing customers instead of trying to get new ones. Therefore, you’ll be able to grow your revenue while also saving costs associated with advertising and marketing. Increasing AOV is a method of sustainable growth. Although this method can be very beneficial for businesses, not all marketers know how to use it properly. Therefore, we decided to create this quick guide that might help you get started.

What Average Order Value Is

Average Order Value is one of the most important metrics for many online businesses, especially those from the eCommerce sector. Basically, AOV is exactly what it sounds like: average money you get for every order during a certain period of time. AOV may vary not only across industries but also depending on the platform. For instance, travel businesses have AOV of $392 from desktop users, and this figure changes to $250 when it comes to mobile. Similarly, fashion businesses have AOV of $109 and $73 on desktop and mobile, respectively.

To calculate your AOV, you should divide your total revenue by the total number of orders. For example, if your eCommerce store’s revenue was $21,000 this month, and you had 1,000 orders, it means that your average order value was $21. AOV is a valuable indicator of business performance that enables you to evaluate your customers’ preferences and purchasing habits. Just like other metrics, you can measure AOV for any period of time. Most online businesses, however, calculate their monthly moving average.

What Makes AOV Important

If you’re still not sure why we decided to dedicate a whole article to AOV, here is the reason. Increasing AOV enables you to get more revenue from the same number of customers so you don’t need to put a lot of effort into acquisition. You can save costs associated with customer acquisition while also growing the revenue so AOV optimization is a great approach that can turn out to be very helpful for marketers that are looking for growth opportunities.

Evaluating your online business’s average order value enables you to evaluate the effectiveness of your overall marketing efforts, as well as your pricing policy. Besides, AOV enables you to measure the value of individual customers in the long term. AOV can also serve as a benchmark of your customers’ behavior so you can use this indicator to set goals, develop strategies, and evaluate these strategies’ performance.

Sometimes, marketers on an online business may choose not the best solutions in an attempt to maximize revenue. For example, marketers often put a lot of effort into driving more traffic to a website, while increasing their AOV would make a bigger impact and enable them to get more profit. You might need to invest a lot of money, time, and effort into increasing your website traffic, while increasing AOV will cost you nothing. Given that each order is associated with a certain transaction cost, increasing AOV enables you to increase your profits and to drive direct revenue because customers are already purchasing something from you.

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How To Increase Your Average Order Value With Your Online Business

There are many strategies that can help you increase your average order value. Basically, all these strategies are aimed at making your customers spend more money. For example, they might buy more expensive products than they planned, or they may also purchase more products. You can optimize your average order value at every stage of your sales funnel in your online business.

For example, you can encourage your customers to purchase additional products related to those they’ve already added to their shopping carts — there are many products people might forget about even though they may need them. If someone purchases an electronic device, you can offer batteries, and if someone buys a lamp, you can offer light bulbs. Besides, you may offer better, more expensive alternatives to the products that your customers choose.

You can motivate your customers to spend more by using different merchandising approaches. You may display a great selection of products in a way that will motivate them to make an additional purchase. Besides, you can use direct incentives, such as free shipping. Most often, online businesses increase their AOV by using methods based on cross-selling, upselling, coupons, and volume discounts. You may also make a donation to a non-profit whenever your customers spend a certain amount of money and offer free shipping or return policy for more expensive items.

To use such strategies effectively, you can segment your customers into several groups. “For instance, some people tend to spend a lot of money every time they visit your store, while others may only make small purchases. Besides, people may order something from you more or less frequently,” explains Ann Tyson, a digital marketer at a writing service review website. You can analyze different customers’ purchase histories and create different offers for each segment. For example, you can use upselling and cross-selling for low-frequency shoppers and offer a loyalty program for those who visit your online business store more often.

Here are some tips that might help you increase your average order value in your online business.

  1. Use a minimum price threshold for free shipping

    A simple yet very effective approach that can help you increase your average order value is to increase the minimum order amount customers need to reach to get free shipping. Most customers will choose to buy an extra item to avoid paying for shipping. It’s a win-win situation because you can maximize profits while your customers can spend money on something useful instead of wasting it on shipping.

The key to using this method is to make sure that your customers are well-informed about how much they need to spend to get free shipping and how close their shopping cart is to that threshold. For example, you can display a pop-up window whenever your customers approach the free delivery threshold.

  1. Add upsells and cross-sells after order completion

    Using upsells is all about giving your customers a reason to spend more and using a sense of urgency. Quite often, businesses redirect customers to order confirmation or a thank you page after checkout, but you can use this opportunity to upsell. Instead of just saying thank you, you can offer a nice discount if your customers decide to buy a better product or extra product right now.

When it comes to cross-sells, you will only be able to use this approach effectively if you offer relevant products. Think of products that will not only complement the items selected by your customers but also improve their overall user experience or make it more complete. You may also want to check out the best ways to optimize your eCommerce checkout to increase your conversions.

  1. Offer inexpensive add-ons

    Imagine yourself staying in a line in your local grocery store. Have you ever visited such a store with the only intention of buying bread or salt but ended up also buying chewing gum, batteries, and chocolate bars? If you have, you’re not alone, and you can use the same approach to increase your AOV in an online business.

“Adding inexpensive add-ons at the checkout will enable you to boost impulse purchases,” notes Martine Arnold, a digital marketer at a reviews on writing services. The lower the price, the more likely your customers will agree to buy add-ons, and the more add-ons you can offer. Amazon uses this tactic by suggesting items with discounts once your cart has reached a certain threshold.

  1. Offer a trial period for more expensive services

    “Mentioning the features of your higher-priced services might be not enough to motivate your customers to buy them. Your customers might be more likely to buy them if they actually try these services and understand what experience they can get for some extra money,” notes Elliott Coles.

Many people who try Spotify Premium or sign up for Apple Music for free keep using these services after the trial period is over because it’s difficult to let something go once you’ve tried and enjoyed it.

  1. Use a loyalty program

    As we’ve already mentioned above, you can also increase your AOV by using a loyalty program. Moreover, it will also help you get more returning customers. For example, you can use a bonus system so that your customers can collect bonus points for each purchase and then use them to buy from you. You may also offer a premium membership so that your customers can enjoy free delivery or other benefits.

Wrapping Up

Increasing your average order value can be a very effective method if you want to grow your online business’s revenue. It enables you to save customer acquisition costs while maximizing the profit you get from your existing customers. We hope that our tips will help you increase the average order value of your online business and boost your revenue in no time.

Melissa Mauro is a self-improvement author who is always interested in new projects. She wants to create her own writer brand, that’s why Melissa is looking for fresh platforms for the implementation of her ideas. Creativity and unique style make it possible to deliver valuable and engaging content to her ideal reader.

 

small business coach

My Top Ten Favorite Business Tools for Entrepreneurs

My Top Ten Favorite Business Tools (Updated to 21 Tools) for Entrepreneurs

As I’m working with my clients I’m frequently advising them about business tools that are useful for small business owners and those who are self-employed. Since I believe that marketing is one of the most important small business owner skills, several of my favorite tools fall under that category.

Just as important as marketing is self-development and included are a couple of those tools in my list. I’ve listed 3 tools that I use in coaching my clients and 2 that help with the financial areas of business..

  1. Hootsuite is a very helpful business tool with managing your social media posts. You can send one post to multiple social media sites with the push of a button, and you can schedule future posts so that your message broadcasts while you are on vacation or sleeping! Plans start as little as $19 per month.
  2. MailChimp is an email newsletter distribution platform. You can create your newsletter using their templates, add subscribers to your list and send out hundreds of email newsletters a month for free.
  3. Clickfunnels is an online business tool that helps you to build marketing campaigns without the help of a technical person. You can connect these campaigns to your website so that your visitors may view and buy your products or services online. The cost starts at less than $99 per month.
  4. WordPress. You may already be familiar with WordPress. This famous website platform boasts of providing 28% of all the websites on the globe. That’s a lot of sites! These websites are relatively easy to design, but many business owners hire a web designer to set everything up. Adding content and images is really easy; very similar to Microsoft Word. The cost can be as little as zero.
  5. Audible is a way for you to listen to all kinds of books on tape. I consider personal development to be essential for the small business owner. Zig Ziglar, the famous motivational person talked about the benefit of going to “automobile university,” that is to listen to audio recordings while driving your car. I frequently listen to personal development recordings while driving or working out. The cost is about $15 per month.
  6. Quickbooks.  Most everyone in business knows about Quickbooks; but did you know that this billing and invoicing tool can automate your payments from customers? Then you don’t have to manually create bills or chase customers for money. The payment shows up in your account so that you can spend more time with your customers. You can use it to pay your bills too! The cost is as little as $5 per month.
  7. Our 36 Coaching Module Assessment. This business tool is a self-assessment we provide to business owners and self-employed people who are looking to improve their business and take it to the next level. The tool examines your business in 36 areas in your business. We have found that every business owner wants to experience freedom in business. That’s why we decided to become our own boss; to be free from another boss! The cost is zero.
  8. Coaching Agenda. Our clients fill out a weekly coaching agenda prior to each session. Included on the agenda are Key Performance Indicators, Goals and Actions, Biggest Achievements, Challenges, Motivation level, and other important information. This tool tracks your business progress and results helps to achieve forward momentum and identifies obstacles to overcome. The cost for this business tool is included with all coaching packages.
  9. Strategic Plan. In my opinion, one of the most important business tools an entrepreneur can use is the Strategic Plan. Therefore that is one of the first things we provide for our clients. For us, this important document includes your personal vision, values, goals and bucket list. To that, we add your business vision, values, and mission, your business goals and objectives which form the “big picture” and your action plan which breaks everything down into small steps to achieve the plan. The cost is included with coaching packages.
  10. Canva. This simple and amazing content creation site will help you to create all kinds of images, presentations, posters, infographics, social media images and anything you can think of. There is a free version or you can pay $12.99 per month for the pro version.
  11. Promo. is an online video maker that gives you everything you need to make high-quality videos that will help your business grow. easily create videos from scratch or choose from our selection of video templates. No editing experience needed unlimited creative options inside. They have millions of templates for all kinds of business types and it fits all types of content. With Promo, you can also make video advertisements freely and easily. Promo helps you to promote your business or products, improves brand awareness, widen your reach, and engage your customers.

Top 10 Business Tools

  1. Flock. For small businesses, communication plays a very important role. It’s a means of synergizing the office environment so all the relevant divisions can work in harmony. There are several requirements for in-office messaging and video conferencing, which can be addressed with Flock. It is mostly available for free unless you need the advanced features available for a mere $4.50/ month for each user. Since Flock facilitates both messaging and video conferencing at a low cost, it is our personal favorite.
  2. Colorcinch is the cooler, down-to-earth stepchild of photo editing – always dependable, fabulously low-maintenance, and ready to prove their worth. They help you to “cartoonize” your images in a very cool way. Their price range from $3.99 per month to $5.99 per month.
  3. Titan. Another important form of communication for small businesses is email. Aside from interacting within the office environment, email is used to inform clients and customers about your business products and services. Titan allows you to create official email addresses with your business domain that adds to your professional capacity. After a 30-day free trial period, you can choose to continue using this highly professional business tool for only $1.50/ month for each user.
  4. Asana. Small businesses that require a level of symbiosis and planning when executing important projects. Asana is a project management tool for small and medium enterprises to keep employees focused on the step-by-step execution of the projects. You can create daily goals, assign deadlines, and allocate tasks to each member or team and watch as the tasks are completed with absolute effectiveness. Since Asana allows you to classify the project with short-term goals, it makes it easier to follow the progress of individual tasks. The basic project management tools in Asana are available for free. However, if you wish to use the advanced premium features, it’ll cost $11/ month for each user, and for business features, $25/ month for each user. Since Asana is a useful small business tool where you can view each project from different clients on one forum and keep tabs on the development, the cost seems meager as compared to its usefulness.
  5. TimeDoctor. To run a small business with efficiency, you have to take Time Management into account. It is not optional to create effective calendars and schedules for each project for different clients. Time management increases your efficiency in manifolds. Not only can you check the development of the projects, but you can also dock the exact amount of time that your employees dedicated to your business. It can be overtime or slacking that causes delays in your projects. TimeDoctor is an excellent small business tool that tracks productivity and Time Management for all your business functions. You can try it for free for 14 days to evaluate its suitability for your business. You can subscribe to the plan for only $10/ month for each user.
  6. Adobe Creative Cloud. For design-based small businesses, Adobe Creative Cloud is a blessing. It facilitates the use of multiple tools on desktop as well as mobile apps for all your design functions. It is an outstanding tool for creating attractive videos, adjusting features in photography, creating a web design, and programs to detect and track user experience. This small business tool is popular for its proficient design facilities and regarded quite highly among professionals. The plans for Adobe Creative Cloud vary based on how many people use it and for what purpose. For individual use, the price is as low as $10/ month. If you want to use it for business, then it costs $34/ month. Adobe Creative Cloud also offers separate packages for educational purposes, including small businesses that focus on training in design functions. For students and teachers, it costs $20/ month. For Universities, schools, and colleges, it costs as low as $15/ month.
  7. Wave. Small businesses are extremely reliant on regular billing and payments. Since the profits are limited, and there are multiple expenses that you need to consider, payment cycles must be systemized. Wave is a targeted software created to assist small business owners and entrepreneurs. It helps you design customized invoices with your business domain and feature the identity of your brand. You can create recurring invoices for billing and payments and track the income and expenses accordingly. The best part about Wave is it is mostly available free of cost. However, if you wish to associate billing and payments with credit cards, then you might incur additional charges.
  8. Turbo Tax. Maybe your business is a startup and you haven’t developed much complexity. You can do-it-yourself until you can afford a bookkeeper. Tax filing, especially for small businesses, can be really cumbersome. You have to consider all the previous year’s taxes, deductible business expenses, income, etc. That is why TurboTax comes in handy. You can synchronize TurboTax with QuickBooks to access all your income and expenses. It can also track the taxes from the previous year as well as deduct and business expenses associated with travel, advertising, materials, etc. The tool is available for $160 under federal jurisdiction and $50/ state. The cost of TurboTax may seem a little higher than usual, as compared to small business tools that perform other functions, but it is worth it when you get to save a considerable sum in tax deductions and returns.
  9. HelloSign. Another primary requirement for small businesses is signing important documents. When you accept a contract or need signatures from clients, suppliers, partners, investors, or even employees, it is helpful to have the process digitized for efficiency. HelloSign offers the means for you to request the signature from them. Once the process is completed, a copy of the acknowledged and signed document is sent to each signatory for posterity. It helps keep your business functions above-ground and transparent, facilitating trust-building and understanding among all parties. The cost incurred for this most-useful small business tool is a mere $13/ month for each user for the standard plan. You can also upgrade to the business plan, which costs $23/ month for each user.
  10. Paypal. It is a globally-accepted mode of payment for all small businesses. Therefore, you can provide local or overseas services and get paid via simple online transfers. The standard Paypal plan charges 2.9% + $0.30 for each transaction. The Pro plan charges the same, with an additional $35/ month.

Two more honorable mentions: Slack and Basecamp. These two tools provide similar services but Slack is more geared towards communication while Basecamp is for project management. Slack starts at $6.67 per month and Basecamp is $99.00 per month. Both are great tools!

I’ve brought to you some of the best business tools, apps, and technologies that can benefit your business. Try some of the tools in this list and watch your business grow!

Questions about our small business coaching services?

Call us at 1-888-504-0777,

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Enter your information below to start growing your revenues and profits today…

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51 Best Start-up Ideas to Try

start-up

Creating an excellent idea for a small business to start-up can prove a daunting task, especially with the apparent feeling that all the great ideas for business are already taken. However, it’s still possible to expand on a current set-up or build on a much older idea. One thing is sure; being self-employed presents far more benefits than the challenges that come with it, and it is, thus, completely worth the effort. Over the years I have done 12 business startups, and that really adds spice to my life.

As a business coach I work with many business owners including entrepreneurs who are doing startups. For the most part these amazing clients are successful. All it takes is a good idea and a willingness to learn, learn, learn and work, work, work!

That said, here are some start-up ideas to inspire you, which you could implement this year!

business startup

51 Small Business Ideas to Try in 2022

Let’s get creative. Find inspiration as you explore this exhaustive list of ideas from varied fields like nutrition-based, travel, writing, etc., and take up what works for you.

  1. Specialty Travel Tour Organizer

For a travel-based start-up, consider a specialized travel tour company. This company would offer the service of catering for travelers’ individual lifestyle preferences, taking into consideration varied aspects as travel preferences of travelers, diet-preferences, or even age of travelers. Such a company will specialize in attending to a well-defined set of preferences travelers have and would exist to meet those needs.

  1. Develop an Airport-Centric App

Consider setting up an all-inclusive app that enables travelers to navigate through airport information and make informed decisions in real-time. This is seemingly non-fallowed ground when it comes to start-up ideas and could be quite lucrative. While it is apparent various travel apps exist, an all-in-one app that shows information like amenities, TSA line wait times, ground transportation options, and airport maps could be quite useful to travelers.

  1. Wedding Destination Planner

If you’ve ever been close to someone who did a wedding, then you know planning such events isn’t as seamless as the event may seem to unfold, and you could step in to relieve the hosts of weddings of the stress as a wedding venue planner. This would also allow you to explore various parts of the globe as you pick out suitable venues for weddings based on the couple’s preferences. Though working hours for this start-up may be extended and pressure ever great, yet if you love exploring new places, then you’d do great with this option.

  1. Creating Local Guides

If you’ve ever been a tourist in a place you’ve never been to before, then you know having a local guide could mean the difference between life and death, and that could be an excellent start-up option – making local guides. It doesn’t matter whether or not you’re versed with the locality or not. You could help tourists enjoy off-the-beaten-path experiences in your locality with themed guides and highlight attractions. And it doesn’t need to end there; you could get in touch with companies in your area and land advertising gigs as well.

  1. Setting up a Local Grocery Delivery Service

With very minimal start-up cost, needing virtually just a cell phone and a vehicle, to begin with, a grocery delivery service is a great option to consider. You could stand in the gap to aid senior citizens or people who are just too busy to pick up their groceries themselves and make a living while doing it. You could set up partnership agreements with local grocery stores in your area and get to work.

  1. Become an Event Planner

Consider setting up an event planning company in your community. To achieve such a feat, networking and careful research are necessary to succeed. It is also interesting to note that you could set up and run such a company remotely for ultimate flexibility.

  1. Open a Coworking Space

With the rising popularity of remote working, you could capitalize on this by setting up modern coworking spaces. Simply select a suitable location, incorporate necessary and sought-after amenities, and reach out to the community for primarily local impact.

  1. Meal Preparation Business

The world has gotten a lot busier than it used to be, and people no longer have the time to cook their food all the time, and where there’s a problem like this, you could provide the solution with a meal preparation business like restaurants. You could focus on generally ordered foods or diet-specific options, all depending on the community you find yourself in.

  1. Devise a Food Waste Solution

Developing a solution to deal with food waste would not only make you a lot richer. Still, it would significantly impact the food industry, helping grocery stores and restaurants save a lot of money.

  1. Capitalize on Veganism

Veganism has been on the rise in the past decade, and being able to provide plant-based food options can be a great business idea to consider. Setting up a vegan supermarket, restaurant and rolling out vegan alternatives of traditional foods are great places to start.

  1. Start a Dropshipping Business

The e-commerce dropshipping model is quite fascinating because you don’t have to purchase inventory upfront. Selling high-end products with low shipping costs would prove quite lucrative and could become profitable quickly if you do thorough competition research.

  1. Deal in Zero-Waste Products

Not only is this a smart option, but it is eco-friendly and an ethical thing to do. Zero-waste products include reusable and recyclable products like reusable bags, bamboo toothbrushes, and even zero-waste packaging materials. Such products would appeal to a world plagued by climate change.

  1. Curate Subscription Boxes

Subscription boxes have become quite popular and a lucrative business venture. Simply identify a niche and curate this specific set of items to modern customers.

  1. Produce Pet Products

Over 85 million U.S. households have at least a pet, and you could tailor your business to meet the needs of these companion animals. Consider making toys, clothing, and accessories for pets.

  1. Deal in Phone Accessories

The average person owns a mobile phone, and dealing in phone accessories has the potential to flourish in almost any setting. Though there is apparent saturation in the field, there is always room for one-of-a-kind smartphone add-ons.

  1. Engage in Electronics and Mobile Phone repairs

You could consider engaging in electronic equipment repairs and, especially, mobile phones, helping people get their electronics working again.

business startup is hard

  1. Create Custom Clothing

You can become a custom clothier, dealing in custom clothing, such as using dye sublimation printers for designs on garments, or rendering tailoring services if fashion is your thing.

  1. Sell Vintage Goods Online

Like it’s said, “one man’s garbage is another man’s treasure (or something like that)!” you could consider dealing in used merchandise, selling thrifted, vintage, or upcycled items online, and there are tons of sites to make that possible.

  1. Become a blogger

The key here is to identify a comfortable niche like sports, technology, lifestyle, etc., and create engaging content on the subject. With time, as the audience expands, you could make money via advertising, affiliate links, and even sell products.

  1. Write E-book

Perhaps you’ve got a way with words and know-how to present stories in ways that captivate and arouse the desired emotional response in the readers. You could put those skills to use by becoming a self-published e-book writer and selling your work on virtual platforms.

  1. Consider Ghost-writing

Perhaps you have the skill to write, are good with words but don’t mind always attaching your name to your work, then consider becoming a ghostwriter for other busier professionals. It’s a great option to consider with minimal start-up cost.

  1. Become a Resume Writer

Everyone needs a resume, but not everyone can write out a great resume, and if you’re good at something, then you don’t have to do it for free. You consider resume writing as a great start-up, with little start-up cost attached.

  1. Become an Online Coach

If you desire to see others achieve success and attain their desired goals in whatever aspects of their lives, online coaching is a great start-up option to consider. You could set-up a YouTube channel with niche-tailored resources to help people reach their goals as you reach yours.

  1. Engage in Website Flipping

Website flipping involves buying a website, making alterations to the site, and then selling it to make a profit. Such a start-up would require some starting capital as well as some tech skills in web development but could quickly pay off.

  1. Engage in Web Development

As the world increasingly becomes digital, the need for custom websites continually increases. As such, skills like mastering programming languages and working with WordPress could really come in handy and open doors for a lucrative start-up.

  1. Start a Podcast

A podcast could be a great start-up, especially if you find that you’re knowledgeable or passionate about a particular subject matter.

  1. Be a Social Media Influencer

If you can successfully build a following large community on social media platforms like Instagram or YouTube, you could create a stable income source through influencer marketing.

  1. Create Online Courses

If you have hobbies that people could be interested in mastering, then you could set-up online courses to teach these skills. This is entirely dissimilar to coaching as it’s more passive but will still yield a meaningful income.

  1. Become a Marketing Consultant

If you have digital marketing skills, then consider becoming a marketing consultant helping small businesses engage their audiences by providing SEO, social media, or copywriting services. Even without the necessary experience, you could take online courses to get you started.

  1. Engage in App Development

Your big break could be in creating an app. All it takes is the right skills and a great idea, and you could get the jackpot. And what’s interesting is, you don’t need a lot of coding skills nowadays to build a great app.

  1. Make a Smart Appliance

In an incredibly digital world, developing a healthy and needful appliance could be the big break you desire. All it takes is a great idea. To be inspired, carefully consider the average person’s daily life and figure out what tasks at home or at work would be significantly facilitated using an appliance.

  1. Look to Virtual Reality Experiences

VR is the future, and that future has already begun. Join the community making VR by creating virtual reality experiences or accessories.

  1. Develop a Dating Site

While it is true there are tins of dating websites and apps out there, you could stand out from the crowd by presenting a niche-tailored dating website targeted to meet the needs of a rather specific group of people.

  1. Develop a Chatbot

Even with really knowing much about coding, you could create a chat box that uses artificial intelligence to communicate with people—to help businesses improve their communication.

business startup

  1. Offer Matchmaking Services

This is a step further from just setting up a dating website; it requires a more active role in accessing, based on the users’ provided info, who is best matched and most suited for who. Matchmaking could be completed online or in person, helping you make money and develop relationships simultaneously.

  1. Become a Virtual Assistant

Online assisting is quite a promising start-up alternative, as it can help in administrative tasks in both professional and personal lives.

  1. Reinvent Exercising

Exercise is essential for healthy living, but it can get boring, especially when it comes to following the exact same routine daily. So then, how can people exercise but still find ways to have fun while doing it?

  1. Eco-Friendly, Health-Friendly Makeup and Beauty Products

Yeah, that’s quite specific. As more people become aware of the environment and the need for eco-friendly products, even makeup and beauty products should align to such standards. Creating safe and eco-friendly beauty products could be an excellent start-up option and one that hasn’t got a lot of congestion.

  1. Try a Food Truck

Perhaps, starting a restaurant may have been the idea, but you could consider a food truck instead. Even though you’d most likely need the qualification and background in food handling, a food truck may be more feasible a start-up idea compared to a restaurant as it would require less workforce and fewer resources to pull off.

  1. Start an Organizing Company

Some persons have a knack for organization – keeping things neat and tidy, where everything has its place, and others do not. If this is your thing, you could engage the start-up idea of organizing homes, offices, kitchen utensils, bookshelves, etc., for people who are clearly not gifted or less busy doing it themselves.

  1. Interior Design for Your Professionals

Everyone (or almost everyone) will appreciate a well-designed house, one that feels like home, but not everyone can achieve that. It requires picking out the right furniture, setting up with the right design, decoration, paint color, and even smell of the house. And if you have an eye for decorating, then interior designs could be a great start-up to consider.

  1. Become a Freelance graphic designer

It’s all about pictures in a social media age, and you can capitalize on that as a great start-up option. Decide the projects you work on, apportion your time and build a portfolio. You could consider graphic content for websites or blogs to company specifications for all manner of projects.

  1. Start up a Translation Gig

Do you speak more than one language? Then you could offer translation services. For optimum results, you should identify a particular domain or specialize in, like medical, transportation, finance, etc. You could expose yourself to tourists and get paid to aid in communication.

  1. Engage in Photography

Photography is arguably more of an art than science, and you may just have what it takes to excel in it. You can test yourself with small family events and build a portfolio with referrals. As you get known in the community, more gigs would come your way, which is progress. Also, use social media platforms like Facebook, Instagram, etc., to make your rade known.

  1. Set-up a Handyman Service

Perhaps you may be good at fixing things and improvising solutions when things fail. Or maybe, people around you always need your attention when things need fixing; then consider becoming a handyman. Find a domain that works for you and grow by asking for referrals.

  1. Become a Woodworker

If you’re good with wood and delight in crafting out beautiful furniture, you could set up a woodworking business. You can start out with a local base, meeting locals’ needs in the community while building an online following as you showcase what you can do.

  1. Become a Videographer

Though videography is a start-up that would require some capital upfront to invest in the right equipment, its demand will never run out. So, give it a shot. Create samples and advertise online, and have interested viewers queue up to demand your services.

  1. Car-detailing specialist

Cars – who doesn’t love ’em? Car dealing specialists are in demand highly, and if you can pay attention to intricate details, then this may be your big break. You may also need to be mobile, and you should have the necessary flexibility, transportation, and equipment for the job.

  1. Home inspector

This is a more formal start-up option and may require certification and a great deal of expertise. You can supply services like confirming licensing requirements and inspecting land assets for sale or purchase. You may need to take a few courses on the subject for this start-up and expand your knowledge and expertise.

  1. Housecleaner

With almost no qualification whatsoever, you could start-up a house cleaning gig. To succeed at this, you should consider making your services known through the community to get more bookings, clients, and, of course, more bucks.

  1. Personal chef

We all need to eat, but not everyone has the time to cook and are comfortable eating out. As such, you could provide the service of becoming a personal chef. This is especially needful for special-diet individuals like vegetarians or patients. And as an added hack, you could group clients with similar feeding preferences and cook for them in bulk.

How to Choose the Best Start-up Idea

As much as these ideas are all great and you’re feeling anxious to jump on that idea, there are a few things you must consider. First, there must be a need you’re meeting in choosing that start-up; there should be demand for what you’re considering in the locality you’re envisaging. No matter how appealing the idea on this list is, you’d be setting up for failure if there isn’t a demand for it in the community you desire to start up.

Secondly, you should have a well-articulated business plan. Where there’s no plan, there’s ample room for failure. The business plan will help your business stay on track, so it’s a must-have.

You should also take into consideration your skillset, what you can do, and choose wisely. Even if you desire to learn the new skill, you should still assess whether it’s a feasible route to take.

To wrap things up

The opportunities for start-ups are limitless; all it takes is an opportunistic vision to jump on every demand and start-up a business. Whether or not you choose from this list, stay motivated and strive to succeed. Read this article to view a Business Startup Checklist.

Here’s an article about Deciding on the Right Business Structure.

 

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Surviving the Big Boomer Business Bust

Exit Plan

Why is an Exit Strategy Important for Business Success?

Do you have an exit plan? This is an update to an earlier blog post. Things have changed significantly over the last few years!

According to PricewaterhouseCooper, approximately 50% of all owners of small and mid-sized companies will exit their companies over the next few years. Others estimate that the exit rate will be closer to 75%.

This massive exodus from the marketplace will be driven by retiring baby boomers, who are now 60-78 years old. Unfortunately, of those small business owners who exit their business, only about 1 in 5 will actually sell their company. The remaining 80% are closing their doors with a big financial thud!

2020 Reality Check according to December 2019 statistics:  Baby boomers own 2/3 of U.S. businesses, that’s millions of companies. Only 8% of this group plan on selling the business.

Business Owners Have No Exit Plan

Of all boomer business owners, nearly 60% have no plan for selling their business or passing it on to an heir or successor.

Why is this happening?  There can be many reasons:

  • Their business isn’t saleable because of its lack of profitability or it can only function with the boomer owner at the helm.
  • Boomers are pushing out retirement because they haven’t saved enough
  • These business owners are failing to look ahead at hard facts and figures or to set.
  • Some business owners truly love what they do and want to do it forever.

Why Don’t Business Owners Do Exit Planning?

Business owners are reluctant to create an exit plan; it seems like planning for their own funeral. They are afraid to consider what life would be like without their business, so they do nothing.

I think most don’t realize the rewards they’ll get from having an exit strategy –peace of mind, and new opportunities — to cash out now and enjoy a secure retirement, or maybe to try something else like start another business or become a mentor, to travel or spend more time with family, to pick up a hobby or do volunteer work. Thinking about when and how you’ll exit your business can reap dividends:

Financial

By knowing when to reduce your inventory, training, or staff; when to stop investing in newer equipment, software, or supplies; and how much income you’ll need for a comfortable retirement

Organizational

By grooming a possible replacement, you smooth the transition and by structuring the company well for takeover.

Exit Planning

By gathering and then “selling” the benefits of buying an established company (saves a lot of work, heartache, and money).

Ethical

By considering the needs of your staff, customers, and vendors and also by planning your exit with the people in mind who depend on your business will leave your mind and heart at rest.

Reputation

You’ll leave a strong and respectable legacy by preparing ahead, by thinking about the effect on others, and by setting up your business for sale or passing it on to a heir.

An exit plan isn’t the end of your world. It will begin a new phase for you and everyone who’s been connected with it.

How to Prepare Your Business For Sale

Below are some things you can do to increase your chances of selling for big bucks:

  1. Create an Exit Plan.

You know the drill – “those who fail to plan, plan to fail.” The problem with failing to plan is obvious. Hire an Exit Planning Coach to help you figure out the right window for retirement and the steps needed to reach it.

  1. Plan Three to Ten Years in Advance.

Most experts say that you should have an exit plan when you start a business.  At a minimum, you should develop your plan at least three years before an anticipated retirement.

Consider that life happens – illness, recession, technology changes, governmental rules and compliance, divorce – so thinking ahead helps you avoid a catastrophe.

  1. Sell from a Position of Strength.

You can command top dollar for your business when it’s strong. Unfortunately, many owners wait until an economic turndown, burnout, or a health crisis forces them to sell from a position of weakness.

  1. Know the Value of Your Business.

Every business owner should get an annual valuation on their business; this is the best indicator of a company’s performance and provides potential buyers with a view into its worth.

  1. Get Revenues and Profits Up.

Your business should be growing; both top line and bottom line. Become the number one or two largest business in your market.

The top line refers to a company’s revenues or gross sales. Therefore, when a company has “top-line growth,” the company is experiencing an increase in gross sales or revenues. The bottom line is a company’s net income, or the “bottom” figure on a company’s income statement.

  1. Develop Management Succession.

If you’re the only one who can run your business, who will a buyer have to help run the business after you leave?

If none of your family want to take it on, then consider offering it to a key partner or employee; perhaps sell it to the remaining staff.

  1. Maintain Confidentiality.

This is critical to the health of your organization. If your competitors, customers, employees or vendors find out that you are selling, this could mean disaster for your company!

Addition: Silently plan your exit strategy – even to the point of having informed parties sign a confidentiality agreement.

  1. Keep Focused on the Business.

Don’t let your business performance decline because you’re too focused on the sale of your business. Continue to work on your business as if you don’t plan to sell it.

  1. Get Help From Professionals.

You will need an exit planner/business coach, a business broker, a wealth planner, a CPA, and a tax attorney on your team.

Local, state, and federal laws and regulations change frequently, so hiring an expert could pay for itself.

  1. Get Your Books and Records in Order.

Have your financial statements and legal documents in order; this will give the buyer confidence in your business.

Summary

Planning your exit strategy will help you …. to make wise decisions now … to fashion your future and … to create a legacy for yourself, your family, and your community.  For more information on this topic read this blog post: How to Succeed in Business Without Really Trying:

Even though only 20% of all small businesses are selling, it is possible to get yourself into that group. But it is going to take some planning and some more hard work to get yourself there. You should start today!

Questions about our small business coaching services?

Call us at 1-888-504-0777,

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Enter your information below to start growing your revenues and profits today…

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How to Succeed in Business Without Really Trying

Succeed in business
The Movie: How to Succeed in Business Without Really Trying

If you’re a Baby Boomer, you might know the title reference to a 1960’s movie. The story centers on an ambitious young man, J. Pierpont Finch, who reads a book about how to succeed in business and uses it to rise at a dizzying pace from mailroom to executive suite. (More recently, it was adapted into two Broadway musicals, one starring Nick Jonas and the other with Daniel Ratcliffe.)

This is our take – without the romance, drama, and musical numbers – on the things that might make it easier to succeed in business.

How to Succeed in Business Without Really Trying

Stay open to trying a new approach or considering a worthwhile suggestion, and go further than you expected to succeed in business without really trying hard.

Choosing Your Small Business

If you’re 100% sure that you want to start your own business, but not 100% sure of what business you’ll choose, then we’ve got some suggestions for how you can succeed in business with minimal agony.

Loving The Business You Start

For those starting out, the best advice for an easier path to succeed in business is to do what you love … or at least enjoy a lot. Maybe you’d adore making a living by creating art sculptures, recycling furniture, or running an animal rescue. Maybe you yearn to start a business doing landscaping, graphic design, or blacksmithing. 

From the following story, it’s not hard to understand how much more successful you can be if you really love your work.

It’s also about feeling real passion for an occupation. After years of the corporate grind, many people want to create a business to help others – which could center around specialties like counseling, environmental conservation, or coaching.

Here’s a story about how a passion became a path to succeed in business.

Paul Tima of Solutions-4-You – Industry: health & wellness products.

Along with his wife Cheryl, Paul sells natural personal care items, vitamins, and organic foods. Their business sprang up from years of research which disclosed how commonly used household products and foods are poisoning us “one cell at a time.” Their long quest began after Cheryl contracted scoliosis (which causes the spine to “collapse”). As they learned more, Paul was shocked by the fact that 85% of their household articles (from soap & makeup to cleansers & sprays) contained carcinogenic ingredients. He felt as if “God was hitting me on the head” to do something about it.

This all turned Paul into a man with an intense passion for educating folks about the damaging effects of common household goods on our health, and for providing new and time‑tested natural therapies, food, and household products that puts prevention before prescriptions.

“We still need our medical community of nurses and doctors,” he says, but we also need “to understand the body and how to take care of it.” We should make a choice to know what’s in the products we eat, drink, inhale, and use on our skin, and what it’s doing to us.

Take Advantage of Neglected Business Markets

One way to succeed in business without really trying is to choose a business without a lot of competition. Are there no acupuncturists in your town? Very few event planners? Not enough DJ’s, nutritionists, or life coaches? Is your area lacking an upscale restaurant, dance studio, delicatessen, or winery? Improve your chances of success by providing a business that’s in demand but lacking in your community.

To succeed in business you could consider offering a less common service:

  • Concierge for high-end clients. Executives, politicians, and TV stars don’t want to waste their time or energy on tasks like lining up concert tickets, finding handymen and contractors, or making reservations for a weekend getaway. There are 10.8 million U.S. millionaires out there who could be your next client.
  • Providing expert witness services for legal cases. Maybe you have skills that a lawyer might want in court – like a physician, security pro, or forensic scientist. You could also be a broker of expert witnesses – locally, nationally, or globally.
  • Services for seniors. As the Baby Boomer generation (born 1944-1964) ages, there is high demand for in-home companions and care providers. This group of 76 million Americans is also seeking an assortment of services to navigate:
    • Medicare, Social Security, Veteran Benefits, Long-Term Care
    • HHHousing, Downsizing, Reverse Mortgages
    • Legal Help (will, power-of-attorney, medical directive)

What Businesses Are in Demand?

Alternatively, consider providing products or services that are new or emerging. Changes in technology, lifestyles, and our stress levels are constant. We’re listing a few industries that seem ripe for the pickin’. If these aren’t just right for you, let it be a jumping board to discern what fits you in particular.

  • CBD or Hemp Oil. Become an online distributor of health-related trends. These oils are free of THC (the hallucinogenic stuff) and have become very popular.
  • Everything pet-related. When I heard a co-worker say she was building a $30,000 sunroom just for her four cats, I was shocked and dumbfounded. I then heard about a nearby restaurant just for dogs. Fido can play with his new buddies on Astroturf and have a doggie birthday party. Amazingly, I read that owners spent $69 million on their pets in 2017.

This industry is open for pet sitters, walkers, and trainers. You can start a mobile pet grooming business or a doggie daycare.  Or, start your own pet bar.

  • Tiny houses. There’s a growing trend toward downsizing and living more simply. From singles to retirees to young millennial families, people are choosing to move from their large suburban homes into a 300-square-foot tiny home on an 8-foot wide trailer. They not only want to reduce their “footprint,” but also have the flexibility to move when and where they’d like.
  • Selling alternative energy sources. Solar, wind, bio-fuel, photovoltaic, geothermal. As research, technology, and costs make environmental-friendly energy more attractive, business- and homeowners are wanting to become more “green.” Opportunities can be found in design, sales, distribution, repair, installation, and maintenance.
  • Personal coaching. This field has boomed in recent years due to society’s increasing struggles like divorce, layoffs, stress, and addiction. People are also looking for answers in the areas of spirituality, health, relationships, and self-improvement. Life coaches, business coaches, and marital coaches are needed to fill the demand.
  • Healthy fast food. Quinoa, free-range chicken, tailored juices, and tofu burgers. It’s a thing. The calorie-rich burger, fries, and soda just aren’t cutting it for everyone. Not only do we feel guilty eating that kind of food, but our waistlines grow proportionately with each happy meal. You could open a drive-thru restaurant, operate a food truck, or become a personal chef.
  • Virtual assistants. Every year, more people go into business for themselves. The owner may have a great product or service, but they need help with the office work:
    • logging appointments and checking email
    • finding suppliers, contractors, or vendors
    • making or fielding calls
    • ordering goods and equipment
    • tracking data like invoices, customer information, or budgets

This is an attractive option for a work-at-home business.

  • Software developers. According to the U.S. Bureau of Labor Statistics, the demand for software developers is expected to increase by 17% each year through 2023. The median pay in 2017 was slightly over $100,000 per year.
  • Skilled trades.  Masons, electricians, plumbers, and carpenters are recession-proof jobs. A significant portion (40%) of current tradesmen will retire in the next few years, so this field will be open.

Pressing the Easy Button In Your Business

There are other easy ways that your business can be a joy rather than a job.

Using Your Business Network

A great way to succeed in business without really trying is by leveraging your network of friends, business contacts, family, relatives, clubs, and other alliances. Connect with neighbors, social media lists, and former co-workers.

Build a community of support, word-of-mouth, and referrals through people you already know. Send them emails and social media posts to forward on to their network. Give them business cards and brochures to share. Sweeten the pot by offering discounts or gift cards when they refer someone who becomes a client.

Make a point of talking to members of groups you’ve joined such as clubs, associations, networking groups, masterminds, or meetups. Ask the group host if you can set up a table in the back of the room, or give a 5-minute pitch. Offer a free showcase event, e-book, or video about what you do and how it benefits the audience.

You can expand your network by joining a trade group like a barter exchange. Members provide products and services to each other cash-free. The work you perform for other members accrues credit to purchase services within the exchange. You not only save on expenses for services like website design, coaching, and marketing, but you also are now a part of a strategic community.

Apply Your Business Talents & Gifts

Instead of setting up a business just to rake in the cash, consider following your calling instead.

Are you artistic and creative? Then you can start a graphics design shop, photography studio, or art gallery. These pursuits may certainly make you money, but you’re using your artsy talents and fulfilling a dream.

Do you hate clutter? The world is looking for organizers to help purge, sell, donate, and re‑organize the things accumulated over the years.

Are you someone who loves to write? So many people need help to make their content clear, well-organized, useful, and compelling – from blogs and web copy to magazine articles and books.

Settling for a high-paying job might bring in a healthy paycheck, but may make you feel as if you sold out. You know what you were really meant to do.

Follow your intrinsic talents. A business won’t be hard work if you do something that comes naturally.

Become the Business Go-To Person

If you prove yourself as the reigning expert in your field, then to succeed in business will come easier. Our suggestions for establishing yourself as the guru for any particular job:

  • Do one job. A lot of entrepreneurs have many talents, but if you want to be that go-to person who known for one niche then stick to just that. You may be renowned as a business coach but can also do website design … keep that secondary skill under your hat because that can confuse your client and muddle your message.
  • Develop deep knowledge. Read books, take webinars, attend classes, and practice. Knowing your business exceedingly well will cast your reputation as the go-to person in your field.
  • Define your unique selling proposition. Take time to flesh out what makes your business stand out from the competition. Tell the story of how your company is different or better. These questions might help:
    • What customer problems are we solving and how do we do it better?
    • How do we compare to the competition – faster turnaround? guaranteed one-day service?
    • What do clients say is best about what we do or provide?
    • What are our distinguishing qualities – customization? open 24/7? American-made?

(Read the related blog about USPs on our website.)

  • Publish. Write a book, blog, or post around your area of expertise. Find the right magazines, newspapers, or trade publications, and submit related articles.  Keep the content appropriate and relevant for your intended audience. (Note: Make sure to have it edited; nothing kills credibility like typos and mediocre writing.)

Starting a business can be exciting and heady at the start, but can be a tougher path to follow than expected. You can succeed in business without really trying by doing something you love, know thoroughly, or that which comes naturally. It will also help to use your existing connections, to choose a market that’s in demand, and to establish yourself as an expert. 

 

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