Factors behind success of a small business

For getting success in small business many people think they have to be smart in their business. Smartness does help and positive thinking can make decisions easy. Apart from these two indicators, there are other factors many people just ignore. Let’s discusses them.

successPassion for the business

One should have a deep burning desire to excel. Without it, you will be lacking in enthusiasm. You should have the passion to overcome the setbacks during the journey to excel. One should be motivated even during tough and unexciting times. It is the grit required to last for a long time to come. An entrepreneur depends mostly on passion and his spirit of determination. Your enthusiasm is mostly noted by your associates and customers. If you have a fire in your belly you can carry your businesses to greater heights when others have failed long back.

Listening to your customers

To become an entrepreneur, you will have to listen to what the customer wishes to say. Customers, the base of your business and will tell you what you need to know. Not until you come in their close zone. For coming in the close zone you will have to first initiate a dialogue every now or then. You will have to keep communication lines open. Talk to them about their interests, the weather, politics, stock market, their children, or any other general topic under the sun. Once they start getting familiar with you the will start opening up. During talks, you can casually ask what things they like about the business and what they do not like.

A businessman should remember that he does not overreact to customer complaints at that moment otherwise the customer may stop complaining and you may lose a feedback channel or maybe a customer too. Listen to him patiently, politely assure him that you will look into the matter as soon as possible and do not forget to thank him. This is an indirect opportunity for the businessman to improve the services, introduce new development and make a customer for life. You may get wonderful suggestions which never occurred to you before.

The two qualities discussed above can be done on daily basis. Sometimes new scenarios crop up unexpectedly which one has to deal with. It is challenging for any businessman to develop all the different skills in different fields like management, accounting, marketing, information technology etc. to make the business thrive.

People do overcome few of the challenges that they are exposed to on regular basis.

Businessmen have to see what their employees do and point out every small mistake they do. They should explain clearly that every small detail is important and help them perform better the next time. A businessman should involve himself in all the sub-divisions or section of the business he is in. Working along and building cordial relations with his staff members.

For a business to be successful genuine, vital and real-time feedback is important. It is only feedback when worked on leads to improvement. Customers want that the owners care about their thoughts and feeling and the owner is their collaborator and campaigner. A strong human connection has its share of joy and commitment towards the customer and society at large.

How to prepare your small business for the year 2018?

A new year begins and with its beginning, new hope and new aspirations begin. Small business owners use this time to evaluate themselves, their businesses and accomplishments. Based on this they look forward to making changes in their style of functioning.

small business for the year 2018Every small business has its own method of working. It vastly differs person to person. But there are certain common things that run through them and have their own checklist. Some things included in the checklist may be common but certain small and crucial things are overlooked, that may have a bearing on the accomplishment of the goals in this year.

Given below are few things that you can do to grow your small businesses for the New Year 2018.

  1. Keep your accounts up to date

Every entry of your business transaction should be made. This will help you in analysing your expenditure and earning. A week on week or month on month basis.  You may have to devote some time and energy to it but the trouble is worth taking. It would help you in balancing your creditors and debtors in the most efficient way.

Setting aside sufficient money for taxes, rent, raw material purchase, EMI’s, repair and maintenance.  Staff salary, machine, electricity and telephone bills etc. So that you do not get into trouble for arranging finances.

  1. Interact with your team

The year-end should be time for consolidating your position. For many small business owners, most of the day is spent thinking and working on ways to make the business thrive. In this owners miss out on valuable feedback and spending time with their staff.

As days move towards the holiday season, make sure to take some time off and be with your team. You can initiate a group discussion regarding the company’s state of working. In this process, you can gather feedback. See to that every staff should provide an input. It can be negative or positive. The gathered input can come up with better suggestions and new ideas. This makes your team stronger which will help you in long run.

  1. Prepare a list for business growth

Every businessman strives for growth. Be it a small one or a corporate. But only a few of them take the necessary and planned steps for growth. Let you set the stage for growth.

Take a serious look at your business. Write down in details about all the points which are lacking. Is it finance, skilled manpower, short supply of raw materials etc? Now start noting down against each in your list, what all steps can be taken to improve the position. Take few days time to come to conclusion.

  1. Take help of technology

We are in a time where there is constant innovation. For every business, there are new technologies which are aiding or assisting for better production or increase production. Computer and software are finding gaps in production and inventory management etc.

To seamless and undisturbed team communication Slack software can be used. There can be work or file sharing between groups of employees, whose work depends on each other Dropbox is the most suitable for it. Effective marketing is one of the factors that need to focus; buffer is here for this purpose. You can manage and schedule your time properly with the help of a calendar.

Do you know how to start a small business?

Almost everyone wants to start his own business. The strategy of starting a business is almost same either it is a small business or a big business. There are some specific things for every beginner need to know to start a business to stay on the right side of the law, to start a business with the highest potential for success.

Establish your own business can be a big event of your life but before starting it, save your time and money by being familiar with the information about what things need to involve in running a business. Investment of time according to appropriate planning is essential to turn your dream into a reality. Operating a small business is not an easy task, it is not just about working for you or working from home, it is about having the essential skills such as management skills, technical skills, industry expertise, finance management, long-term vision, development and success.

small businessAre you ready to start a small business? So, here we are providing you the complete business planning toolset that will help you in proper planning, exact preparation and good management of your business.

1.  Make business plan

It is important to make a business plan that may include many factors but most common things are market analysis, product or service line, fund, marketing and sales, organization, management and expected profits.

2.  Take training and proper guideline

To expand or reinstate a business, prepare a business plan and take advantage of training and consulting services available for running a business successfully.

3.  Decide business area

Location selection of a business is one of the most important decisions for a small business owner. It requires accurate planning and proper investigation that may include demographic research, competition monitoring, evaluation of supply chain, understands state laws and taxes, stays on budget and more.

4.  Fund for business

If you are in need of fund to run your business successfully then there are government and venture capital firm that can help you to start and run a small business.

5.  Business structure

Make a decision to take the best kinds of possession for you such as Limited Liability Company (LLC), sole proprietorship, cooperative, partnership or non-profit.

6.  Register your business name

Your business name is essential for business branding. You can choose your business name as your personal name or something that you like. A business name is needed to register with the respective government authorities.

7.  Tax registration

It is required for the business owner to pay business taxes that vary in each state. Some local taxes are also compulsory to pay. Therefore, you will have to register your business for paying taxes.

8.  Permits and business licenses

There are some permits and licenses are very required to run a business successfully and legally. So, make a list of such permits and business licenses and apply for those.

9.  Responsibilities of employers

Responsibilities of an employer are different from employees and more, so you should be ready to pay more responsibilities.

10.  Local assistance

Local government bodies and the small business administration are always available to help you to plan your small business. So, get full details of local government assistance may help to run business in the right direction.

These top ten tips will surely help you to start your business with long-term profitability.

Small Business Technology Trends in 2016 [Infographic]

It is no doubt that technology has truly made our lives more comfortable and reduce workload. Aside from our personal life, it has also provided us with a lot of opportunities to better manage our business, regardless of what the size is. Though the large-scale application is more evident to those big companies, small businesses have also learned to leverage the power of technology to efficiently manage their business operations, and at the same time, facilitate a more enticing interaction between the business and customers.

In this infographic, we will show the latest trends in technology that small businesses are likely to leverage this year 2016. From CRM tools, mobile payment options, to virtual offices, these technological tools will certainly give a simple business an upper hand in today’s overly competitive market and reach the sales like it never did before.

Small Business Technology TrendsCourtesy of: The Service Manager

What a Small Business Website Needs to Have

Finding a job on the web is not hard these days. You might not get a dream job at the beginning, but everybody who has decent knowledge of English and a computer can land an online job. As the time goes by, however, you will start feeling that you deserve more, no matter what job you do. This will make you launch your own online business. Now that you are your own boss, you need to deal with all the aspects of business on your own. For starters, take care of your website.

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Clear visual organization

Modern web design is leaning towards further simplification. Although today designers have literally thousands of software tools at their disposal, what Internet users still appreciate most is fresh, ingenious and functional design. Because of those user experience demands, a rookie small business owner should ensure that their website meets such needs. First of all, this means that your website needs to have a site map. It is the crossroads from which every user can get to the website area they need. Also, every single page needs to have a homepage icon. Believe it or not, many website owners forget to add this important option to their pages. If your website is visually simple but original, your visitors will be engaged and get interested in your business. Have a look at best websites of 2014, to pick up some cutting-edge ideas.

Entertaining and informative blog posts

What you can do to give your website a more serious look is create a blog section. If you have a look at this real-time meter, you will see that an average number of blog posts on the global level is almost 4 million posts a day. This fact illustrates how large the potential of blogging is. Even if your website is purely commercial, it will look too bleak and empty if you do not enrich it with some interesting content. When it comes to blogging, it is very important to set clear rules at the beginning. You should avoid publishing low-quality texts. Instead of that, hire a couple of trained and knowledgeable content writers, who will write about topics relevant for your website.

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Startup newbies and affiliate benefits

While there are millions of job offers on the web, it is much different when you decide to launch and run your own business. The key element here is to create an environment in which your services will be needed and looked for. Knowing how to do your job is less important here. What matters at this initial stage is establishing collaboration with some well-known companies. If people who visit your website see that your affiliates are Amazon and Xerox, it will attract them to see what you do. This is why new businesses should make one or more affiliate agreements. It means that you will have an partner company whose products you will be selling on your website. In return, you will share the profits. Here you have to pay special attention to the ecommerce payment gateway you opt for, to make sure your customers’ money stays safe during their purchases on your website.

Going your own way in terms of online business is a huge, but exciting challenge. If you have a few years of experience in any of the niches looked for in the online world, you should have no fear of work independence. Since your website is your shop window, keep it modern and functional. Such a website should attract generate a high traffic rate. That way your business will grow and it will become a successful online enterprise.