Business Strategy | Mike McRitchie | Resume and LinkedIn Profile Writer | Telecom Marketing Content Writer

Flexing Your Entrepreneurial Muscles: The Ways To Do It

July 10, 2018 by Contributed Post Leave a Comment

I’m not sure many people grow up saying that they want to be an entrepreneur. I find that when it comes to these sorts of attributes it is often something that you are born with. The neutral desire to turn a profit at any given opportunity. Buying sweets from your friends for one price and selling them on for a higher price. Always looking for the next big thing, and even creating ideas like car washing as a teenager to raise funds or selling something. As an entrepreneur you may find that you have lots of passion and drive when it comes to business and this is only something that grows as you get older, so you may feel that it is your natural way into business and your career rather than deciding you want to do it. But how can you flex those muscles in the world of business. I thought I would share with you some of the ways to do it.

Big Idea

Having that one idea

For any entrepreneur I think you will agree that so many would say it takes that one big idea. The one idea that hits you when you least expect it to. It could be that you want to change something, or you have an idea for a niche or gap in a market where you think you can make the biggest difference. The idea can consume you, and it can certainly be the one night thing that enables you to launch a business and make it a success.

Starting up an online business from home

Sometimes it just takes that leap of faith. You could be working for a company and think that doing it yourself would be better. Enabling you to have more time or earn more win the process. Maybe it means going freelance and just starting up at home. Many online businesses start from a laptop in a living room, and often some of these companies can become the biggest success stories. Apple was started in a garage, just saying.

Acquiring a failing business and making it a success

Maybe the idea is simple, you just want to work for yourself. So a great option is to consider buying a business and making it a success. Whether that is a business that is failing and you want to make it a success, or whether that is a business you are interested in and want to learn more on the ground experience in. You can acquire businesses and using business acquisition lenders can help you secure the finance you need to do it. Once you have the business you can then come up with your plan and actionable steps to make it a success.

Expanding your already existing business

Maybe you already have a business that is doing well. But what would be the next step to move the business forward? Have you through about expanding it? This might be moving it from your home into a physical workplace. It might be that you decide to open a shop or retail outlet. Maybe it is expanding your current range of products and services. Could you turn your business idea into a franchise? There are many things you could consider doing. You could reinvest into the business or seek finance to help you grow and expand it quicker.

Building a business with selling in mind

Maybe the end goal is to always sell a business. This is what many entrepreneurs do. They don’t tend to be interested in the running of a business, they are simply wanting to build it up and then make their money and move on to the next project. So you could be building a business with selling in mind. This is a great way to really flex your skills and see what you are capable of doing.

Acquiring a business location and changing the use

Finally, maybe you are looking at the bigger picture. Perhaps you have acquired a business location but now think it is more suitable for another purpose. That might be change a shop into a cafe or restaurant, or vice versa. Maybe it is using a big open space and making it into a fun centre for families and children. A business location that has once been one thing doesn’t;’t mean it won’t work being something different, and this can be the good basis for your next successful business plan.

I hope that his has given you some food for thought on how you can flex your entrepreneurial muscles.

3 Genius Ways You Can Get Your Business Into Your Customer’s Pocket

July 9, 2018 by Contributed Post Leave a Comment

Brand exposure is everything to a business, and it’s something you should continuously be working on every day. It’s not enough to just get your name out there and make people notice your company – you want to be right in the faces of your customers, so they always see your brand and think about you. This is a great way to not only gain new customers but to also retain them and build a loyal customer base.

So, I’m going to provide you with three genius ways you can get your business into your customer’s pocket – literally!

Business Cards

I think the most traditional idea is to print out some good business cards and hand them out to people. This is a surefire way of generating a customer base. People with your business card are naturally going to think about your business whenever the time presents itself. Imagine you run a window cleaning business and hand your cards out to people on the street. When the time comes for one of these people to need their windows cleaned, they’re obviously going to cast their mind back to the business card in their wallet for this service! Also, by giving customers your card you’ve essentially established a bit of a bond between you. If they ever need more of what you offer, then they can pick up the card and dial your number again. The critical thing here is to make the cards look very professional, as this helps you generate more leads.

Free Key Tags

The idea of handing out free merchandise is nothing new. By doing this, you can give people things that have your brand name/logo on it, and provide a constant reminder that you exist. It works the same way as business cards; when a person with your custom key tags thinks about a service/product that you provide, their first thought will be to go to you! You’re in their pockets, but you’re also in their minds! Key tags are the perfect bit of merch to use as it’s something people will actually bring around with them all the time. They attach them to their keys, and the rest is simple subconscious psychology!

A Mobile App

Finally, we have the modern idea of developing a mobile app for your business. This has become a highly popular way of getting your business into the pockets of your customers. Everyone carries their phone with them no matter where they go. So, imagine they have an app that lets them connect with your business in some way. They can order things via the app, use it to collect reward points, or even get notifications sent through via it. There are so many things you can do with a mobile app – too many to discuss in this article alone!

All three of these ideas will certainly help you move closer to consumers and your customers. You can try all three if you’re feeling particularly promotional, or just pick the one that you feel will work best for your business.

Four Questions You Need To Ask Before Starting An Online Business

July 5, 2018 by Contributed Post Leave a Comment

Business Startup Questions

In theory, beginning an online business is a wonderful idea. It’s just you and your computer, with no (or few) other overheads to worry about. Other people are doing it, so why shouldn’t you? And if you are currently stuck in a hostile working environment, this is your opportunity to get out of the rat race. However, there are a few questions you need to ask yourself before you take the virtual plunge. The following are just some of them.

What is your motivating factor? Don’t start an online business because you think you will get rich quickly. Don’t start an online business because it’s better than ‘working for the man.’ Don’t start an online business because other people are doing it. You need a better motivating factor – a passion for a product or a service, a skill you want to share, a desire to build something great. And yes, money will be a factor, and escaping the daily commute is another, but ensure you have that inner drive to make the business work, as otherwise, you may lose motivation down the line if profits and results don’t seem to come your way.

How will you build your business? On pen and paper, you may have great ideas, but how will they work in theory? Do you have the skills to set up a website, or should you choose from the range of ecommerce sites as your starting point? Do you have a particular type of customer in mind, or do you need to commit to research for your target demographic? Do you have a product to sell, or will you be needing a supplier to provide what you need? Are you able to work alone, or are you in need of support to make things work? For your business to grow and develop, these are just some of the questions you need to ask yourself.

Who are your nearest rivals? It’s unlikely you will have an original idea, so you need to look at the competition. What do they do? How do they market their product? What is their pricing model? What is their USP? Find out who they are, how they operate, and what they offer. You need to match them, and to truly succeed, beat them at their own game. Make your business unique, even if your idea isn’t original. Think about pricing. Think about the functionality of your product. And commit to marketing your business, as even if your business idea isn’t unique at all, you can still brand and market your business to make it appear better than your rivals.

Do you have the time? Is this going to be a part-time or full-time proposition? If the former, time may not be a problem. But if you are going to work full-time, and this is your main source of income, you are going to need the time to fully commit. So, look at your other commitments. How will your family be affected? Are you happy putting certain aspects of your life on hold while you get established? Will you need to work weekends? Take stock of your life before you come to a decision.

Success does beckon you, but answering these questions will stand you in better stead as you plan ahead. By getting a sense of clarity, you will be in a better position to begin your online business.

When Building Your Business Premises Is the Best Solution

July 4, 2018 by Contributed Post Leave a Comment

If you are starting or expanding a business, you will eventually have to make a decision where you will be based. If you are manufacturing or setting up a wholesale venture, you will need to be well connected to major road networks, however, if you are setting up a call center, you will have to be at a convenient location for your workers. The premises you need are not always readily available, and you might need to build. Find out more below.

Office Location

You Get a Development Funding

In some gray land areas, you will get a government support if you develop the infrastructure of the region or are planning on employing a certain number of people. Areas where unemployment is high and there is a need for economic boost will help you get the funding for your business building project, so you can make the most out of your financial resources.

Location Matters

Sometimes, you will simply need to be at a specific location, and there are no suitable buildings available. This means that you will have to find the plot, seek planning permission, and employ architects. However, you will be close to your suppliers, customers, and supporting services. You can get in touch with commercial building companies, such as TPM Builders, so you can get your plans together and create a detailed budget.

It Can Be Cheaper

Budget Office Location

In some cases it can be cheaper to build your business venue than renting or buying. If you can use steel construction and prefabricated panels for your warehouse, you might even get more parking and storage facilities and better connections, lower maintenance, and better financial deals than buying a building and renovating it to suit your needs.

You Are Planning Long Term

If you are planning to establish a large, well-connected business that will be the heart of the local community and industry, you might want to plan long term. Instead of renting or buying an old business, you can make a statement through your design and even create a landmark in the area. Long term finance will suit your business budget better, and you can benefit from tax reductions, in some cases.

You Need Custom Features

Sometimes, your business is built around innovation, and no existing building can accommodate the new technology you are trying to implement. If you need the space, the security, the energy source, and the connections to make your business become a reality, and must have custom features, such as the latest loading and unloading ramps, you might want to build instead of renting or buying.

When you are facing the decision in your business where to set up your head office or main distribution area, you will have to consider your options carefully. Make sure that you create a detailed plan and budget, take advantage of the government development incentives, and you can save money long term and establish your brand in the heart of the community, making the most out of your investment.

Different Ways to Connect With Customers

July 4, 2018 by Contributed Post Leave a Comment

Connecting with your customers can be a challenge, but the reality is that it’s never been easier than it is right now. There are simply so many ways in which you can reach out and connect with the people who make your business what it is today. But you do have to move with the times and keep finding new and modern ways to engage your customers so that they don’t have their heads turned by a rival business. Read on to find out some of the things to consider doing.

Create Competitions for Customers

Customers love to have the chance to get something for nothing. Don’t we all? So why not engage with them by offering competitions with genuinely appealing prizes? More people will get involved with your business than ever before because they will all want the chance to win. And it’s entirely up to you how you set the regulations for how to enter, so give this some thought.

Meet People at Events

Networking is not something that you only have to do with business partners and people like that. It’s just as important to meet people face to face if they’re the customers of your business. It allows you to show a human face to your business and stops you feeling like a bland corporate entity. So try to attend company events and invite customers along too.

Networking

Listening to and Acting on Feedback

When you do talk to people about what they think of your business, always take the feedback they provide as seriously as you possibly can. If you hear what they say but make no effort at all to act on it, you will only regret it later. Your regular customers often know your business better than anyone, so when they tell you there’s a problem, it should be listened to.

Online Apps

These days, apps are perfect for bring people together in once place and sharing information with them. That’s why your business should consider creating its own app. There are so many ways in which it can be used, from creating an online store to harvesting feedback or alerting customers to new sales. Find an App Development company and get to work on this as soon as you can.

By Answering Their Questions Rapidly on Social Media

Social media is the ideal platform for you connect with people like never before. When a customer or potential customer fires a question your way on Facebook or Twitter, do your best to engage with it and offer a fair and human answer as soon as you can. This is one of those things that customers really care about because it shows you care too.

Your customers mean everything to your business because without them, you would have nothing at all. That’s why it’s up to you to find ways to connect with them. The ideas discussed here will all help you to get started, but don’t stop looking for your own ideas to make use of as well.