Business Growth &
Ideas
Competitive
Edge - Do your homework.Make it a practice
to check up on the competition from time to time. Find out what they are up
to and begin innovating. If you want to maintain or increase your current business
load, than you need to develop a competitive edge.
Provided
by: Tiffany Washko
Virtual Assistant
Constellations Virtual Services Group
Five to Grow On
- Your business is up and running. Sales are increasing, your customer list
is growing. You realize the time is right to grow. But are there some traps
you need to avoid? You bet there are. Here are five thoughts that offer some
insight to help you plan for your business growth:
- Remember Why You're
In Business
If you didn't write a thorough business plan when you started your business,
now's the time. Well, at least to write down some basic elements, including
the reason you started your business in the first place. Why did you venture
out on your own? Why did you leave your steady paycheck? Time with your family,
freedom, flexibility, potentially more money? Write it down!
- Bigger Isn't Always Better
Here's the first place where that reason why comes into play. Ultimately,
as your business grows you need to be sure that growth fits in with WHY you
started your business. Bigger can mean more stress, more time away from home,
more people to oversee. It also doesn't necessarily mean more money. Be sure
you're growing wisely and according to your own personal reasons for being
in business.
- Use Sub-Contractors
Before you decide you need to hire employees, try farming out certain parts
of your business responsibilities. Payroll is often the largest expense a
company has and puts a lot of pressure on the company "to make payroll."
Product delivery, errands, bookkeeping, accounting, organizing, database,
cleaning, marketing, etc. can all be done by other small or home-based businesses
that you'll only have to pay for the job they are doing. It'll free you up
to do what you do best without the increased paperwork and stress that go
along with hiring employees.
- Whenever Possible, Develop
a System
A system for how you handle incoming phone calls. A system for writing proposals.
A system for invoicing. A system for marketing. A system that can be duplicated
over and over will help you to know what needs to be done today and how to
get it done. It eliminates stress and helps you to be able to work ON your
business, not in it. I highly recommend the book, The E-Myth Revisited by
Michael Gerber. His insight on systems will be tremendously helpful.
- Keep Pushing
Don't assume your competition will sit still. They won't. They are planning
to regain the market share they lost to you. You still need to spend time,
energy and money on new marketing strategies, networking opportunities and
ways to make things run smoother. Don't assume the market won't change. It
will. Keep listening to your customers, keep looking for enhanced opportunities
and keep taking logical growth steps.
Provided
by: Janet Drez
Owner
A Perfect Solution
Productivity
- Time invested in planning IS productivity. Take some time at the end of each
day to plan the progress towards your goals. This will give you a productive
action plan for the following day. Planning is easy and pays great reward. It
is known that items not done at the end of the day, when jotted down, allows
us to forget the matter completely. Then, the next morning, refreshed, we have
the notes to allow us to prioritize them along with any other items and work
it all, again.
Provided
by: Valerie Simpson
Founder
Organize-U
Technology at Bay
- I have a love-hate relationship with technology. I love it because it
is what allows me to have my own business, work from home, look bigger than
I am, and have clients all over the country. I hate it because it can so easily
suck away my time, infringe on my personal space and cause me stress. As we
march forward into this millennium, technology is not going away. And the personal
demands technology makes on our time and space is only going to increase. We,
as the individuals, need to take charge and force technology to work FOR us,
not us working for technology. Here are a few tips to help you keep technology
at bay:
- Set aside a specific
time and amount of time you will spend each day reading and answering e-mail.
Twice a day is more than sufficient and half-an-hour each time is probably
enough. It is so easy to get carried away reading all those inspirational
stories, potential opportunities and sales pitches. Remember that you are
in control, e-mail does not control you. If you've already spent your half-hour,
then delete those stories and get your inspiration somewhere else.
- Block off non-interrupted
time. We all need some uninterrupted time in our day to get down to business.
Whether you're writing, painting, paying bills, designing, or filling orders
you need to make time to focus. Let technology work for you and don't answer
the phone - that's why you have voice messaging. They'll leave a message and
you can call them back.
- When researching on the
Web, stay focused. If you are using the web for a specific project or to find
some specific research information, keep that information in the forefront
of your mind as you surf the web. There is such a huge amount of information
available on the web that it's easy to get distracted. Allow yourself a pre-set
amount of time to find what you need. It's amazing how many hours can go by
and you're no closer to finding the information you need, and yet your deadline
hasn't budged at all.
- Disengage. Turn off your
cell phone, your pager, and your computer. Let the phone ring. Go outside.
Enjoy a walk, lunch with a friend, a bubble bath. Play with your pets, play
with your children. Completely unplug. It's essential if you're going to be
effective and efficient when you "plug back in."
Provided
by: Janet Drez
Owner
A Perfect Solution
Testimonials
- After completing your business with a client, immediately request a testimonial.
Positive testimonials will increase your chances for future business opportunities
by breaking down any potential fears or skepticism on the part of your prospects.
Don't forget to thank your clients for the testimonial!
Provided
by: Tiffany Washko
Virtual Assistant
Constellations Virtual Services Group
