Tips for a Successful Small Business

I was just browsing for a moment today and found this article that I really liked and wanted to share. Hope you find it interesting. My comments below.

"It is pretty easy to set up a new business but the actual challenge lies in surviving the cutthroat competition and to stimulate growth over the years. One of the prime reasons why most of the businesses face a very tough time is the lack of proper marketing plan and minimal focus on branding. After all, only when you are able to market your products properly to your target segment will you have a chance to generate revenue to take your business forward.

While a business success is largely dependent on concerted effort of various major functions, during the early years it is most important to focus on branding. Your branding effort should be strong enough not just to introduce your company name to your target segments but also create an impact on them. For a new business the marketing and branding strategy should ideally be able to establish its presence, create name recognition, build credibility among the target market segment and contribute to its status and reputation. Here are seven tips that would actually help you to achieve success with your new business.

Write Down Your Business Plan – This should be the first step. Probably the most common and biggest mistake that most entrepreneurs do is not creating a proper documentation of their business plan. We all know what we plan to do; yet it is important to write it down in a formal business plan. It is always easier to follow a written plan. Your business plan should contain your business description. Objectives, marketing strategy and budget, Business overview, facilities and infrastructure, description of products and service, Industry overview, Regulatory Issues, Implementation plan and financial plan.

Focus on your Branding – Do everything you can to promote your brand. Get a professionally designed logo that would justifiably represent your business to the people. Get your business cards, letterheads, brochure and marketing collaterals designed and printed by professional design and printing house. Ensure that your logo design is properly placed in all these. Don’t fall pray to those cheap DIY logo and branding solutions, they might save you a few $$ to start with but it would actually take a toll on your brand image.

Create a Web Presence – It is most crucial for every business, irrespective of its size, to have a website of its own. Most consumers do their initial research on the web before making a buying decision. It is important that they are able to find you at that stage. Also a website adds value to your brand and gives you an added medium to communicate with your customers. Get your website designed and developed by professional web developers. Your website should ideally be an extension to your brand and provide complimentary information to that of your brochures and print materials. Try to update your website often with useful information, this gives your visitors a reason to check back your website regularly.

Create an Advertising Strategy – Most business organizations invest in advertisements but often a business does not get the maximum ROI on its advertising spend because the advertising strategy is not effective or at times, there is even no fixed strategy. Make sure your advertisement is targeted specifically at your market; for example, if you are a local store, it doesn’t make sense for you to advertise on a global media, rather the local newspaper is a much better option for you. Be consistent in your advertising effort. The more your customers see your company ad, the deeper impact it creates on them. It has been observed that a 5-minute ad film served 10 times creates a greater impact on the consumer than a 50-minute ad film. For your ad composition, it is always advisable to consult a PR agency. If you are trying it yourself, ensure that your advertisement leaves your customers with a good reason to contact you and your brand and USP is properly presented.

Publicity is the Key – Yes, do whatever you can to put your business on the forefront. There are various things that you can do for publicity. Send out a press release announcing a Grand opening for your new business, with a short description of your products and services. Keep your press release short, error free and interesting. Write letters to the editors of local newspapers and magazines about your industry and product. Send out further press releases to communicate other business happenings. For example, if you win a business award, get membership to a professional organization, offer services to any charity or even if you are hiring an industry recognized for a key position in your business. Try writing articles and reviews for local publications and industry magazines. This would help to build your credibility as an expert and would add value to your business brand as well. The amount of trust people place on such experts is much more than what you can get by buying the best ad slots on top magazines.
Business Networking – Word of mouth is undoubtedly the best form of advertisement and the more you expand your business network, the more you can have such publicity. Try joining professional organizations in your industry; be a member of Chamber of Commerce; attend networking meets and special events that give you a chance to interact with more people. Volunteer to join a NGO, get associated with a charity organization, or school board. You will not only be paying back your community but also be putting yourself and your business in front of the public.

Measure, Analyze and Decide – These should actually be continuous processes in your business life cycle. You have laid out a business plan but this doesn’t mean you will be blindly following it. Measure the output that you are getting from all the efforts that you put into your business. See if it is more or less than what you projected. Analyze the reasons for any variance, whether positive or negative, and then use the result of this analysis to make educated decisions for the future. You need to keep in mind that you should not be too quick to judge anything. To get a decent understanding of your business processes, you should give them sufficient time to run, which will allow you to have enough data to perform a fruitful analysis.

This article is written by Ray Smith, a marketing expert with years of experience in different industries and specialized knowledge on SEO and Internet marketing. "

I thought this was a great way to lay it out to those who may have an interest in a business venuter. I skipped 5 of seven when I started a business venture and failed miserably! It was a fantastic idea, I just didn't put things into a plan and make it happen in proper way. I never even launched becuase I failed to put my business desires into a busines plan form and make them happen.

I hope no matter what you do, you succeed.

Enjoy Right Now
Cara :)

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If you really do it, it will really work.
If you kind of do it, it will kind of work.
If you don't do it, it won't work.

How Busy Moms Can Start a Business (And Still Get Dressed in the Morning!)

I found this here. I just loved this! I don't even have anything to add! Just love it!

How Busy Moms Can Start a Business (And Still Get Dressed in the Morning!)
by Kathy Wilson

One of the biggest hurdles Moms face when starting any home business is how to manage the home, the kids, and a job, all in the same place! It can be done, and many of us actually even find the time to put eye makeup on every day as well!

First things first, if you are going to start any home business, you need to regard yourself as a business woman. If you don't, I promise you no one else will! I know a lot of work at home sites talk about the perks of working at home including the ability to work in your pj's, but I highly suggest you make sure you dress for work every morning. This doesn't mean you need to have your suit and heels on, just casual dress, maybe a little makeup…enough to give you that "I'm ready to tackle my day" mentality! I just can't start the day without a shower, a cup of tea, and some decent street clothes. If you feel like if a client came to the door you would be appropriately dressed, then you will feel like you are at work!

Make sure you explain to your family that you have started a business, and don't sell yourself short. Act like a business woman, think like a business woman, and people will treat you like a business woman. One of the major morale problems women who work at home have is that they are not taken seriously. Show yourself, and everyone else that you are indeed serious!

Secondly, in order to work at home with a houseful of kids, peanut butter and jelly sandwiches, and the dryer beeping at you, you need to get organized. This is a constant battle for me, but it's a battle that can be won! Start small, and you will soon realize how much smoother your household runs with just a little planning.

Make Sunday evening (or Friday for the next week) your day to set aside an hour to get yourself prepared for the week ahead. Print out a weekly calendar from your computer every Sunday, or pick up a daily planner. Make sure you have room to list both work items, and also home and family issues you need to attend to. Also make sure you have a weekly menu, cleaning schedule, and shopping/errand list on your fridge, or in another easily accessed spot. Create master menu lists on your computer and keep your recipes either in a Word document you can print out when you create your weekly menu, or in a box of index cards on your kitchen counter. (Ol' fashioned, I know, but I love my recipe box!) Use your Organizing Hour to create a menu for the week, and schedule in all your household needs along with a rough draft of work items you need to get done that week. Don't forget to leave time for yourself, and to spend with the family! (After all, what good will your business success be if you feel like you've neglected the most important thing in your life!) Remember the schedule must be flexible for a woman running a business and a household, but that's why God made erasers! I strongly suggest joining an organizing group online, such as the ones at OrganizedHome.com or Flylady.net, both of which are excellent. A little organizing will keep your business steadily moving forward, your kids with plenty of hugs and sit down meals, and your sanity intact!

Finally, realize that it is NOT going to run perfectly. Ever. If you can accept that now, than you will realize that placing unrealistic expectations on yourself will just cause you stress and anxiety, and that is not what success is all about. It's about balance. And every once in awhile, no matter how much is on your day planner, pack those kids in the car with some peanut butter sandwiches, head for the nearest park, and spend your day pushing the little ones in the swings and tossing a ball around. After all, that's why God made Moms.
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Don't you just feel empowered?!?!

Enjoy being a work at home mom!
Cara :)