Every Household must be a producer of goods / services. So the goal of this Article is to request that everyone knows of the challenge to Become an Entrepreneur. Links have been provided to help get started.
Have a great Business Idea
A great business idea is like air to the lungs. It allows you to breath and grow.
Nurture a great idea; where most ideas start from a broad spectrum, creating a brand must have a specific idea in mind which turns into a workable topic, and finally a marketable niche, brand specific.
The old saying goes ” Don’t be quitter, don’t quit what you started”.
I say, if the idea doesn’t work, expound on it, make the idea more brand specific or scrap it, and start over.
In business never feel a need to continue on with what doesn’t work for your mission, vision, and goals.
Protect your great idea
Unfortunately, a great idea had the potential to be stolen, like all valuables.
So, do not tell others of your ideas, people tend to steal the work of others for whatever odd reasoning.
Create an idea so specific, the marketing speaks for itself. Learned intellectual property laws.
What is a legal Cease and desist?
Legal terminology which by court motion, request that another stop using or distributing for profit or not, I believe, something you think you created at an earlier time.
No one should illegally, underhandedly, make a profit from your idea when you learn to protect all your assets as a business thinker, not an Entrepreneur
What you can not do is quit building a business. The ideas and concepts will change, but the fact you need to be a BOSS will never change.
Unless you quit one of the greatest achievements in Life, you will succeed and provide quality merchandise or service through a business venture that helps the masses solve problems, cost efficiently.
When an idea isn’t working,
spin the idea in the most specific way, possible. If your audience does not respond effectively to the first idea, try a second, third and fourth idea on for size.
Do not abandon the idea, change the specifics and promote that idea differently.
Hopefully, the concept will grow on Others, and they will recognize the Added value through a Marketing campaign.
Before you even change the specifics, change the audience or reassess the Target market.
Funny thing is, even though most Social media participants are on all the social sites, the audience preferences are different.
It seems Facebook and Twitter are for gossipping (personal and professional gossip).
Although they allow marketing on the site, they are not the best sites for conversion.
It has happened, people have made sales from FB and Twitter ads.
In my opinion, I would think the best place to advertise would be Linked in, Google+, or other Business oriented platforms whose main objective is to bring Business owners together.
Although, Millions of people buy thousands of products a year from Walmart, doesn’t mean they will buy them from YOU.
A social media presence can be a great asset for bringing awareness of any business.
Probability shows, the more positive exposure the business receives, the higher the conversion rate.
Nevertheless, a continued presence online through a Social media outlet is a great way to gain trust and retain loyal customers.
How to retain Customer loyalty
Know and provide what a Customer needs, when they need it, and give it to them as quality and affordability.
Also, protect assets so they will be available for Customers when needed.
Be a business thinker!
Create a competitive edge of know how.
Eagerly, show others what you know diligently and continue to learn and show even more of what you have learned.
The main goal is to learn to make business decisions more effectively and efficiently based on actual and projected financials.
Learn Economics, to stay Current with demands, issues and today’s markets.
A great business thinker must know the markets that affect the business financials, operations, and Customer retention.
Hire the professionals only
Be a professional, do your due diligence and find Others that are as passionate as you are about Helping Others.
The most important Associates to any business are: (Legal Zoom, Anddirect.net, WA, MLM, Social media sites)
1. CPA (Certified Public Accountant)
2. Lawyer (Commercial)
3. Business analyst (Business thinker)
4. Marketing team (Creative affiliates)
Generate Business growth
Always provide Quality and offer competitive prices (added value)
Do a Business Evaluation
A business true Valuation is based on Qualitative and Quantitative analysis.
Dissolution or Liquidation of Business assets is determined using an accurate financial analysis of all business capital for a fair market price to sell to family, friends, associates or another prospective buyer.
Be a Business Analyst
Learn how to read, analyze and decipher financial statements.
Project business growth based upon assessment of the Company’s finances.
The most important financial statements to use in a business analysis and why, are the following:
- Profit and loss, what profit was made, how much did we lose?
- Cash flow and Income, what’s coming in, what’s going out?
- Balance sheet, income and expenses must balance
- Inventory list of All Capital, includes PP&E & Equity
Allow as many people in your respective industry and let Customers know you are the guru in your field.
Although branding takes consistent awareness and years to achieve, the exposure will add value to your business.
How to promote yourself
Remain current in Industry specifics
Go from an Entrepreneur to a Business thinker, that’s a great way to develop and grow a business idea.
The strict process may overwhelm some, but the calculated risk is essential. Undoubtedly, creativity starts with developing the content (agreements, business plan, bylaws and, or website).
If you have an idea, make it specific, narrow down the niche then build a website.
Hire professionals as needed; a CPA and Lawyer should evaluate the business for projected increase in financials or dissolution of business activities.
I hope this Article helps someone. Any feedback is welcome, thank you for visiting my site.