Infographic courtesy of OnDeck

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Whether it is big or small, every business involves risk which is much higher than doing a typical job. If you’ve never done it before, choosing to start a small business seems intimidating. Fortunately, we have figured out some productive tips and mentioned them below for your assistance.

Tips for Pre-planning

• Before starting a business, be absolutely sure about the research work, but keep in mind that things will almost certainly go wrong. To run a successful business, you must be adaptable to changing circumstances.
• An important part of establishing a business plan is conducting detailed market research on your sector and the demographics of your target market. This method includes surveys, public data research, and search engine optimization.
• Establish your brand before starting selling your services or products. Build a fan base of people who show genuine interest in whatever you produce.

Now we are going to focus on some startup ideas for beginners that are well-tested for their success rate.

Guide to Run a Successful Business Startup

1. Evaluate and Validate Your Idea for Business

Finding a company idea can be done in a systematic manner by using tried-and-true methods that have performed well for other founders. For the best evaluation, you should:-

• Capitalize on trends
• Figure out your interests
• Market research on existing products

The next step is business innovative startup ideas validation. Validating your business may appear complicated, but it’s really simply a question of seeing if consumers are prepared to put money in your product before making a substantial investment. It’s something you should do before making a bigger step.

2. Create a Feasible Business Plan

Once the idea of business is demystified, find the answers to a few questions:

• What is the goal of your company?
• How are the initial costs going to be covered?
• Who is your targeted customer?
• What are the long-term business objectives?

A feasibly-created business strategy can answer all these questions. Creating a business plan can help you validate and formalize your idea, as well as speed up the process of starting a business by forcing you to sit and brainstorm things carefully.

New businesses make several mistakes because they remain in a hurry to deploy things without considering these aspects of the business. Figure out your targeted market first of all.

3. Get Familiar With Business Finances

Any firm’s common purpose is to produce money, hence money flow is an important aspect of operating a company. In order to begin, you’ll need to learn the fundamentals, which you can build on as you progress.

There are many businesses that may be started for very little money, however others will demand funds for physical space, inventory stock or equipment. Before you invest a penny, get a clear picture of your overall investment. This can assist you with making key estimates, such as when you’ll break even. It is advisable to:-

• Conduct break-even analysis
• Figure out the funding options
• Evaluate the expenses
• Choose the right financing institution

4. Meet Legal Obligations

Legal obligations involve multiple factors. The first one is giving it a legal business structure. You have to specify whether the business is a:-

• Sole proprietorship
• Partnership
• Corporation
• LLC (Limited Liability Company)

The second important thing to consider is registering your business with the IRS and government. Some of the basic formalities required in this process are:-

• Employer identification number
• Income tax forms
• Doing business as
• State, local and federal permits/licenses

5. Business Structure and Product Finalizing

You’ve done your homework and figured out the numbers; now it’s time to delve into the service or product you want to sell. When it comes to creating a product for a product-driven company, there are three options:-

a) Making your own unique product: Developing your unique product to offer can help you outshine in the market, whether you’re manufacturing products by hand or acquiring an original piece from a factory.

b) Changing the appearance of a pre-existing product: You may add your original design concepts to the existing popular things and more using print on demand options.

c) Curating a product selection: Dropshipping method is meant for stocking stores without having to create new products, allowing you to sell practically immediately without having to manage inventory.

6. Setup the Digital Infrastructure

When we talk about digital infrastructure, it covers both marketing and automation aspects. Choosing software applications that assist you automate or simplify the tasks you need to perform is one of the finest ways to decrease the manual labor required for business and to set you up to succeed.

When you choose the correct software systems, you can expect them to run smoothly with minimum ongoing maintenance. Consider purchasing software to assist you in managing the following:

• Accounting
• Email marketing
• Ecommerce store
• Ads
• Project management

It isn’t easy to begin a business, but it doesn’t have to be difficult. These methods can help you make your business startup ideas a reality. Whether you want to produce a product to solve a problem or build a lucrative company to be self-employed, the above steps are highly productive in all cases.

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Before you decide to start a home business, you should know a few things. Make sure that you have the time and resources necessary to succeed and the ability to market and sell your products or services. Reviewing these key points will help you get started on the right foot. Adapt the tips below if needed:

1. Just Being Passionate Isn’t Enough

Do you have an excellent idea for a home business but don’t know where to start? Don’t worry! Following your passion is the key to starting a successful home business. People will love your products if you are passionate about them.

Don’t just be passionate about your idea – make it a reality. The biggest challenge of any business is making it successful. You need to have a clear vision for your business and be able to execute that plan.

Delegate everything you can – don’t try to do everything yourself. As soon as you start working on your business, you’ll quickly realize that many tasks can be handled by someone else (or automated). It will free up more time for you to focus on the core aspects of your business.

2. Cash Flow

When starting a home business, one of the most important things is to ensure a stable cash flow. Without it, you will not be able to cover your expenses and will likely wind up shutting down your business.

Create a budget and stick to it. It is essential to know where your money is going so that you can make intelligent decisions about how to spend it. It also helps eliminate wastefulness in your spending patterns.

3. Right Tools

Start a home business of your choice from many different types. Some require more time and money than others, so choosing the right tools for your business is essential.

Some people choose to start a home business by hiring a part-time worker or becoming self-employed. Others use an appointment scheduling software like Picktime to manage their business appointments remotely. Whatever route you decide to take, make sure you have the right tools and resources available to help you succeed.

4. Hold and Build the Business

The economy has been tough lately for many people, including those looking to start businesses. However, with hard work and dedication, there are plenty of opportunities for those willing to hold on and build their business.

5. Expansion and Growth

There are many misconceptions about what it takes to start and grow a home business. One of the most common is that activity is equal to growth. While this may be true for some businesses, it’s not always the case for home businesses. Several factors affect how successful a home business can be, including expansion and growth.

A company’s ability to grow is among its most important attributes. If a business can’t keep up with its growth, it will lose customers and revenue. To ensure your home business can keep up with its aggressive expansion, there are a few things you need to do:

-Make sure you have a solid plan for expanding your business. It will help you determine where and when you should expand your reach.

-Make sure you’re targeting the right markets and customers.

6. Optimization and Outsourcing

Starting a home business can be a great way to make extra money, but optimizing and outsourcing as much work as possible to keep expenses down is essential. Several online tools and services can help you streamline your work process, and in some cases, outsourcing can even save you money.

7. Facts and Numbers

You need to be aware of the importance of facts and numbers. Statistics show that businesses with factual information about their products and services are more successful than those without. When conducting your research, be sure to focus on reliable sources. In addition, it’s essential to create a marketing strategy that targets your specific market. Remember that success doesn’t come overnight – it takes time and effort – but by following these tips, you can get started on the right foot.

8. Right Team

A perfect team is not just a bunch of competent individuals who work well together; it’s also a group of people who have complementary skills and personalities. Everyone on the team can bring something unique to the table, making for a more productive and efficient operation.

When choosing your home business team members, consider your strengths and weaknesses. You’ll need someone to manage finances, someone with marketing experience, etc. Make sure you all have similar ideas and values to create a strong foundation for success.

9. Customer Engagement

The National Small Business Association (NSBA) study shows that customer engagement is one of the most vital factors in starting and running a small business. The NSBA report, “The State of entrepreneurship 2014,” states that “customer engagement leads to increased sales, decreased customer churn, and better brand perception.”

You can do several things to engage your customers and make them happy. One fundamental way to do this is through effective outreach. Make it a habit to reach out to your customers regularly, whether it’s via email, social media, or phone calls. This way, you can keep them up-to-date on your company’s progress and ensure that they have a positive experience when they contact you.

10. Have Fun

Don’t forget to have fun when starting a home business. Having fun is essential for your well-being, but it will also help you stay motivated and focused.

Make sure you have a good work/life balance. If you work too hard, you will likely lose interest in your business and be less productive. On the other hand, if you try to force yourself to work long hours without enough rest, you will quickly become burnt out. Set up a balanced schedule that you can stick with.

The post 10 Things You Should Know Before You Start a Home Business appeared first on SiteProNews.

Although you should follow your gut and let it guide you, there are certain mistakes that can sabotage your decision. Entrepreneurs need to avoid these mistakes to ensure that they have a flourishing career ahead of them. The last thing you want is to give up on your dreams because of a mistake. 

Since it is always better to learn from others, you need to benefit from their experience by avoiding the following mistakes. 

1. Forgetting Your Competition

Every industry has competition. If you think there are no competitors in your industry, you have not done your research. Unless you are catering to an overlooked niche, the chances are that there are competitors that you need to be aware of. 

There is always going to be someone who will challenge you and prove you wrong. You must be vigilant to ensure that your competitors do not steal your clientele. Understand that you are not alone. If your niche has potential, there will be someone who wants a piece of the pie. 

What you need to do is analyze the market to determine who you are up against. Then, you will have to prepare a plan to counter your competition. Keep an eye on other companies to stay ahead of them. But, if the market is oversaturated or there are many competitors, you will need to rethink your options.

2. Not Investing Enough

Every successful business requires investment. If you are not spending enough money, you will miss out on opportunities. New entrepreneurs will find money to be an issue. However, they have to put money into the startup if they want to succeed.

As the saying goes, “you need to spend money to make money”. You must invest in learning, marketing, and people. However, this does not mean that you should go overboard and spend too much. Track all your expenses and finances to spend enough.  

3. Basing Hiring Decisions on Cost and Not Training Hires 

At the end of the day, it is the team that helps companies succeed. You cannot just base your hiring decisions on cost alone. Whether you intend to run a digital marketing firm or any other type of business venture, you must chase top talent. It will help provide you an edge over the competition.  

Be careful about each person you hire, as even a single bad hire can sink the ship. Similarly, you cannot be lenient with poor performers because lost opportunities can have a significant impact on your business. A good idea is to hire a recruiter to help you pick out the best employees.

Once you have hired the right individuals for the job, you will need to invest in them by providing training. This will enable your organization to unleash its full potential. As new technologies emerge, you must ensure that your employees know how to use them.

4. Not Asking for Help

When you first start out, you will have many ideas and the energy to take on everything that comes your way. However, as your company grows, you cannot have the same approach. If you think that you have to do everything, you could not be more wrong.

In case anything goes wrong or you think that you cannot do the job, you should reach out for help. Drop the idea that nobody can do the job as well as you. Although it all began with your idea, it does not mean that others are not there to help. 

Entrepreneurs that try to do everything themselves end up experiencing burnout. You cannot overextend yourself because it is not sustainable. Besides, there are likely to be some skillsets that you lack. Hence, it is important that you work with a mentor or consultant to achieve the best results.

5. Putting Your Product First and Not Your Customers

Although you should focus on your product, this does not mean that you should lose sight of your customers. It might sound like a mistake, but you should prioritize your clients over your product or service.

The fact is that your customers are the ones that help you make money. No matter how ingenious your product or service might be, there is no point in providing it if there is nobody to buy it. Therefore, you need to adopt a customer-first mentality when coming up with a product or service.   

The secret to a sustainable business is a loyal customer base that wants to buy your products. This is why you should not worry about making money. Your goal should be to keep customers satisfied. It will help ensure that they stick around.  

6. Keeping Margins Too Small

New entrepreneurs need to avoid keeping margins too low. A healthy profit margin is essential for success. If your profit margin is too low, it will make your life harder. The reason behind this is that you will eventually need to increase your price anyway which will displease customers.

Having a realistic profit margin is crucial. You must account for everything if you want to stay in business. Determine how much flexibility you have as you scope out your production costs. Then, you need to set a reasonable price that offers a solid margin. 

Initially, you might need to set a higher price. After you gain a better understanding of the costs, you can make adjustments. Besides, your customers will only appreciate a decrease in price. It will attract them in droves. 

Become a Successful Entrepreneur

You now know the top 6 most common mistakes that sabotage first-year entrepreneurs. Learn to overcome these mistakes to run a thriving business. From not being aware of competition to low profit margins, many entrepreneurs have made these mistakes in the past. 

The best way forward is to not make the same mistakes. This will help keep your business moving in the right direction.

The post 6 Overlooked Mistakes that Sabotage First-Year Entrepreneurs appeared first on SiteProNews.

Starting Your Business Right

The key to running a business right is all in the foundation. If you start your business right, it will be much easier for you to reach and maintain success. Here are our main tips for starting your business effectively.

Appoint Directors & Secretaries

You will need to appoint any directors and secretaries before you are able to register your company, as you need these details to submit your registration. Directors are appointed to watch over the business. They are responsible for making sure that your company is complying with all legal requirements, as well as being transparent about any transactions or shareholders. They also have a duty of care towards customers and employees, so they should be held accountable if there has been a breach. 

Secretaries help manage your data and ensure that you are compliant with all legal and financial regulations. Though many companies choose to have a secretary, you do not require one to register a business in the UK. If you do have one, you will need their information before you can register your company.

Register Your Business 

Let’s start with the basics. Before you start trading, it is vital that you register your company. This can be done in minutes with just a few easy steps. You will need to gather some specific information before you start, such as your business name, director details etc.

Set Up Business Insurance

When starting a business, it’s important to understand business insurance. Business insurance can help you to manage the risks of running your business. When registering or starting a company, it’s important that we think about what could happen and how to best protect ourselves against those possibilities with limited resources available! Getting an appropriate policy is the best way to protect yourself both personally as well professionally.

Register for VAT

For any business it is important to register for VAT. If you are running a business in the UK, you will likely need to pay VAT – this is a sales tax on your products. If you aren’t registered for VAT it means that every time someone buys one of your products, you won’t be able to reclaim the sales tax that was taken off of their purchase which can really hurt your business. 

In order to avoid this, you should register for a VAT number as soon as possible. Doing so is free and only takes a few minutes.

Running Your Business Right

If you’ve started your business effectively, it should be easy to run your business right. Keep reading to discover the rest of our top business-running tips!

File Your Accounts like a Pro 

Though it is one of the basics, effective account filing is important for businesses of all types. Filing starts with an accurate initial setup and carries through to regular updates. When accounts are not filed properly or on time, it can lead to fines or penalties that can sometimes be costly. Nobody wants to deal with the headache of fixing errors on their own business’s paperwork, which makes creating a filing system and keeping it up to date the best way to ensure accuracy from the start.

Properly maintained records not only help with accurate bookkeeping, but they also allow a business owner or manager to keep an eye on spending trends in their business over time. This allows them to make more informed business decisions and hopefully avoid costly missteps that result from a lack of information. Proper records also provide a company with a sense of security, making it easier for managers and other decision-makers to move forward with their work knowing that they have accurate documentation in case something goes wrong or causes issues later on.

Implement a Marketing Strategy

A great marketing strategy is essential in any business. It is vital to have even a basic marketing strategy in place because it will ensure that you are able to find customers, reach your target market, and increase sales. A marketing strategy establishes your brand, sets goals for growing your company, demonstrates how you will meet those goals, and allows for evaluation of those goals. 

Great marketing strategies will also allow you to keep up with current marketing trends and incorporate them into your business decisions.

Whether you do your marketing in-house, or employ an outsourced marketing consultant, ensuring that you have a marketing plan in place should be a priority for any business looking to grow and will help you to run your business effectively.

Update Companies House

It’s important for companies to keep their Companies House information up-to-date. This is because it prevents problems with HMRC who rely on this data when they’re trying to collect tax revenue. It’s also important because the business will struggle to continue its operation with inaccurate details listed.

It’s always important to keep records up-to-date but it becomes even more urgent when you’ve had a change; for example, if the business has changed its name or address, if there is a new company director or if someone is buying shares in the business. These changes will require an update to be made to the record, with updates made in several stages.

Not all changes will require an update but it is important to tell Companies House about any relevant changes so they can be recorded correctly. For example, if someone leaves or joins or if you’ve changed company directors or if you are taking on new shareholders.

Next Steps

Now that we’ve offered you the cheats you’ll need, it’s time to get started! We hope our tips have helped!

The post Running a Business Right: The Cheat Sheet appeared first on SiteProNews.

Women are tough, and these movers and shakers have years of experience managing employees, mastering branding, and tackling all of the roadblocks that come with starting your own business. Whether you’re looking to follow in their footsteps with a business of your own or just need some creative inspiration, these eight stories of powerful female entrepreneurs will encourage you to make the most of your career.

1. Dana Matl — Fierce Fruit

Dana’s passion for quality fruit purees comes from her time spent in Colombia. For six years, she explored the land, culture, and people, getting to know the ways of life and unique fruits of South America. Her company, Fierce Fruit, has set the standard for real fruit purees with aseptic packaging and pasteurization processes that ensure premium quality for craft brewing, microbrewing, and homebrewing. 

Through years of hard work, research, and perseverance, Dana has built a successful business that’s transforming fruited beers, meads, and more! She proves that passion can go a long way, and this story of success is only just beginning.

2. Kirsten Thomas — Ayr Skincare

Kirsten Thomas started her business with a simple goal: find skin care products that wouldn’t irritate her sensitive, allergy-prone skin while serving the unique needs of dry, mature skin types. When her search of local stores proved fruitless, she began developing her own products over twenty years ago, which included studying the science of luxury skin care with experts in cosmetics chemistry.

After the success of her initial products, Kirsten expanded her business to include other soaps, moisturizers, creams, cleansers, and oils, all tested and formulated in her own lab — thus beginning Ayr Skin Care. Her products are all vegan, non-toxic, esthetician-approved, and hypoallergenic, so customers can feel confident in the quality of their skincare. Kirsten’s story shows how necessity can ignite new ideas and spark something amazing!

3. Amanda Maynard — Confête

An up-and-coming entrepreneur, Amanda began her career as a sports journalist, though she always had a passion for fashion. Confête came about as Amanda was looking for the perfect dress for her wedding rehearsal dinner. She couldn’t find dresses that fit her properly and were appropriate for the occasion, so after getting laid off due to COVID, she decided to start her own clothing business and use social media to boost her exposure! 

Amanda is a master of finding romantic, whimsical bridalwear and other styles for baby showers, parties, and holidays. Her story illustrates that it’s never too late to pursue your passion and there’s no such thing as a direct path to success!

4. Janelle Thomason — Cosmakery

With over 20 years of experience as an award-winning makeup artist, Janelle Thomason has created Cosmakery: a female-owned, female-run makeup brand that enhances your natural, radiant beauty for the perfect 9-to-5 or Instagram-ready look. She keeps things sweet and simple with easy-to-use kits and sets that won’t overcomplicate your daily routine.

With complete ownership of her company, Janelle proves that you can create your own success through hard work and dedication. In her journey to empower and celebrate women, she prioritizes other female-owned companies, inspiring and supporting others as they pursue their passions.

5. Kelly Dall Antonia— Walls by Me

Relationships can inspire all kinds of creativity — for Kelly Dall Antonia, her friend’s business in Brazil proved to be her spark of genius! Walls by Me takes a fresh approach to interior decorating with durable peel-and-stick removable wallpaper. 

Perfect for the indecisive homeowner or someone who likes to switch things up, Kelly came up with dozens of creative designs that inspire people to let their creativity flow freely. She shows that a love for interior design extends beyond the home and can turn into a successful business. 

6. Jennifer Oppenheim — Just Men’s Shoes

“Starting as a manufacturer, I wanted the opportunity to build the relationship between my brand and my customers,” said Jennifer Oppenheim, owner of Just Men’s Shoes. “I expanded my business since I believed in all my designs and wanted to offer them in a wide range of colors. With the online shopping world expanding, I jumped on board and filled the void in the market that many other brands were not willing to address. The variety of colors and styles offered by Just Men’s Shoes sets us apart from our competitors. The customer was always there — now there is a product to fulfill the demand. My passion for footwear motivates me to continue to work hard and not give up, even with all the uncertainties and challenges thrown my way.”

Jennifer proves that women can master any market, and her commitment to stylish, high-quality footwear is what sets her apart from other competitors.

7. Katherine Swift — Resin Obsession

Katherine has been making jewelry since 2001, but she never imagined it would get this big. After the stock market crash, she decided to dedicate herself full-time to her own business: Resin Obsession. Because precious metal and silver prices were skyrocketing, she switched to using resin. This allowed for more unique designs and lower costs for both her and her customers. 

For Katherine, honesty is the number one priority, and her products are focused on helping people find their unique style and giving them the tools to make high-quality, beautiful resin jewelry. For her, resin is more than a craft — it’s an obsession! 

8. Patti Varrelmann — GGblue

GGblue is a name wrought out of love. Patti was an avid golfer for years, and she wanted better activewear for all. 

“I founded my clothing line because of my twin passions for fashion and golf,” she explained. “I’m a lifelong golfer, and my friends have always complimented me on my unique athletic clothing. After having my children, I wanted to stay home but still wanted to work. I began to consider launching my own clothing line. While on vacation at Cabo San Lucas, I sketched my first design on a cocktail napkin when I couldn’t sleep one night. The rest is history! I named the company after my daughter, Georgia Grace, who has blue eyes.”

This mama shows us all that your kids can be your inspiration and encourage you to be your best every day. 

Feeling inspired? We certainly hope so! These women prove that you can follow your dreams no matter your stage in life or your situation. Being an entrepreneur is tough, but these inspiring women showcase the strength, creativity, and ambition that lives in us all.

The post Words of Wisdom: 8 Female Entrepreneurs on How They Started Their Business appeared first on SiteProNews.

And that’s how the perspective on starting a business gets skewed, because the other side is an awful lot bigger. There are far more failed business startups then there are successful ones and it’s not even really close.

The trouble is that people hear all the stories about the ones that made it work, they buy the self-help books the business owners write and read their motivational speeches and they watch their YouTube videos that have more bragging than actual advice and they think: “I can do it too.”

And the truth is that they’re not actually wrong, because businesses can succeed, but there are so many things that can prevent that from happening, so many obstacles to overcome and mistakes to avoid that are often not considered in the face of a booming business.

I mean the first step is the great idea that you are sure is going to be something that there is a genuine market for but that’s not enough, you need to know how businesses fail so that you can know what not to do.

So let’s have a look at some of the most common mistakes that you need to try and avoid:

Not Having a Budget

For the purposes of this article I’m going to assume that you already have a certain amount of money. I mean failing to generate any kind of initial capital is another problem that is often made, but most people know that to start a business you need money.

And in some cases it can just come from savings that you’ve built up over the years. Maybe you’re getting a bit of help from partners or investors, the most likely source of startup money and perhaps the most reliable a business loan.

But here’s the thing about that: You borrow money, you have to pay it back. And you’re going to have a really hard time doing that if your business doesn’t make any money. Or worse, if your business loses money.

And this is what’s going to happen if you don’t draw up a budget. You need to know what your business expenses will be. Things like rent, paying your employees if you’ve got those, insurance, office supplies and a bunch of other things.

You have to allocate your funds appropriately as well as having some set aside for emergencies. It can seem like a daunting task and can make you feel like you’re not going to make any money, but you could lose control very easily if you don’t do it. 

So many startups make stupid financial mistakes because they skip this step, so get out ahead of those by making sure you know where your company’s money needs to go.

Not Familiarizing Yourself with the Market

So many people think that the idea is enough. You come up with something that you think no one has ever thought of before and you decide that that’s what’s going to make you a millionaire.

And then you set out to put this idea in motion and spread it into the world without doing an ounce of research. For one thing, you need to make sure that there is actually a gap in the market and someone hasn’t already capitalized on what you think is brand new.

And while you think you have something to sell, you also need to know how to sell it. Doing market research can help you find out what marketing strategies work for the type of thing that you’re selling and where best to advertise. 

You can also understand what your competition is doing so that you can do your best to keep up with them or better yet, keep one step ahead. This is all really important stuff. Your idea and what you’re selling is your passion but the market is arguably more important.

Not Having the Right Documentation

Ugh paperwork. Everyone’s favourite part of their job. Well maybe it is actually if your passion centers around paperwork. I’m not going to judge anyone for what they love and what they want to make money doing. 

But for most of us, filling out forms, sending emails and signing different pieces of paper until your wrist feels like it’s going to fall off is just a chore. But unfortunately it’s extremely important if you want to have a recognized business.

For starting a business in the UK there are a couple of things you should make sure you have before you try to get off the ground. Whether you’re starting a partnership or a company there, a different type of document is required for each one.

You’ll need the articles of association to set out who is going to be making the day to day decisions for the company and then there’s the employment contract, the director’s service agreement and you’ll also need insurance.

There’s a lot to think about and if you don’t do it all before starting, then you could end up getting shut down or perhaps even fined.

Trying to Do Everything Yourself

As much as you probably don’t want to share the profits with anyone or as little as you might trust others to be reliable not mess things up for your venture, there’s just too much work involved to do it all on your own.

This doesn’t necessarily mean that you should hire employees right off the bat, but there are certain people you should enlist the help of and delegate some of the workload too. People whose jobs are specific to these aspects of your business.

Build a strong foundation with an accountant, an attorney and a banker at the very least. These three can help you with the financial side of things as well as the legal side of things and can ensure that you’re up to date with your paperwork.

If things get too overwhelming for you, I would also suggest looking into getting a virtual assistant, something that people didn’t have access to in the pre-internet days, but just look at the sort of things they generally do.

Having a virtual assistant who can take care of all the little jobs while you focus on more important stuff can relieve a huge amount of stress.

Even if you do all of this stuff, you still aren’t guaranteed success. But what taking these steps does is prevent you from falling into the same traps that so many businesses fall into and which sink their business before it gets a chance to swim.  

It takes time and effort when really all you want to do is work on this idea you’re super passionate about, but preparation is key so do as much of it as you can.

The post Mistakes to Avoid When Starting Your Own Business appeared first on SiteProNews.

There are 7 core steps involved in launching a successful startup and transforming your idea into the next big thing in business: 

1. Conceiving a Business Idea

Every entrepreneur is essentially a dreamer, dreaming of a new or improved product/service. There are a few litmus tests that will accurately gauge the utility and viability of your idea:

• Does it provide a solution to an existing problem?
• Is it an even better alternative to an existing solution?

If you answered yes to either of those questions, your idea is definitely worth pursuing.

2. Undertake Market Research

Design interviews and focus groups to understand how people perceive your idea. Research whether someone else has worked with this idea before and what they have learned. Identify your competitors and look into their products and services. Figure out what will make your product or service different and/or superior.

3. Create a Prototype

Once you have settled on an idea you want to explore further, do not keep it to yourself. Share it with people immediately. Create a rough prototype and let them experience your product/service for themselves – even if it is just in its nascent stage. Reviews of actual potential customers will reveal a lot of your blind spots and give you plenty of insights on improving the product/service, or – in the worst case – abandoning it all together.

A lot of people make the mistake of taking their prototype out to the people at a very late stage when a lot of time and money have already been poured into it. Later if it turns out that people do not like or simply feel no use for it, you will have wasted all those resources. Bring your prototype to the market early, so you can respond to feedback and pivot if needed or continue on the same path.

4. Create a Business Plan

If your prototype shows promise, start developing a business plan. Your plan is a 20 to 30 page written document describing the journey from your business idea to the finished product/service. Use a business plan template that includes sections for your marketing strategies, competitor analysis, financials, management team and operation plan. A potential investor will make a decision to invest in your business depending on the soundness of this business plan.

5. Secure Financing

There are several ways to finance your business – using your own savings, taking a business loan, borrowing from friends and family, crowdfunding, securing angel investors or venture capitalists, or participating in a startup incubator. Your unique needs and circumstances will dictate the choice you make.

6. Refine the Prototype

Once the financials are secured, you should focus on honing the prototype. Again, you must periodically test it in the market and make changes depending on the feedback you get. Pivot if you have to. Do not be stuck in your ways when the market is telling you something else.

7. Growing and Expanding

Once customers start interacting positively with your product/service you can think about growth. Growth can come in many forms – more teammates, deeper market penetration, targeting new markets or acquisitions.

Launching a startup can be very exciting, but perilous at the same time. If you follow the above steps, you can avoid some of the more common entrepreneurial pitfalls. But more importantly, keep dreaming and keep creating.

The post 7 Steps to Launching a Startup appeared first on SiteProNews.

Businesses that survive and thrive have an unfair advantage. They’re started and run by people who are prepared for what’s ahead of them.

If you want an unfair advantage, we’re here to share 5 of the 12 steps you’ll need to know to get started. And if you like what you read here, be sure to read the complete 12 step guide on how to start a business. 

Develop and refine your idea

Think about how you can integrate your natural skillset into your business so that you can stand apart from your competition. Ask yourself:

• What skills set me apart?
• What is the purpose of my business?
• Who am I providing a service or product to?
• What is the maximum figure I can safely spend on this business?
• Do I need outside capital? How much?
• What kind of work/life balance am I looking to achieve?
• What are my expectations of being an entrepreneur?

You’ll also want to consider what specific niche is right for your business. Here are some niches to consider:

• Restaurants – Narrow your focus with specific patrons in mind.
• Clothing brand – If you’re interested in the apparel industry, here’s a terrific guide on how to start a clothing brand.
• Real Estate – Are you a brokerage catering to retirees? Are you selling vacation homes? Are you an expert in short sales? 
• Retail – Are you selling novelty toys? Rare automobiles? All natural candles? Vintage candy? 
• Legal – With so many areas of law to practice, it’s helpful to position yourself as an expert in a specific field. 
• Landscaping – Are you more of a mow and go company, or are you catering toward elaborate garden design? Maybe you work extensively with patio building. Pick an area and play it up.
• Consulting – Do you have a ton of expertise in an area and want to help others? Here’s a terrific guide on how to start a successful consulting business.

Whatever niche you choose, make sure you’re passionate about it. 

Write a business plan

A business plan can help you to crystallize your ideas. It outlines the financial and operational goals of your business and provides a specific strategy that shows how your company will reach those goals.

Your business plan doesn’t need to be 100 pages long. Keep it short and concise and focus on the key details.

Studies show that entrepreneurs who take the time to write a business plan are 2.5 times more likely to follow through and get their business off the ground. 

Don’t get obsessed about getting every detail right in your business plan. Barry Moltz, a small business expert, speaker, and author, tells us that:

The business never turns out exactly as it seems when you get started. There are always unexpected hurdles. The biggest ones are typically a sales pipeline, people, cash and productivity.

For more information about how to create a business plan, the Small Business Administration has you covered. 

Decide your legal business structure

Here are some of the typical business structures you should consider:

• Sole proprietorship – this is the most basic business entity. A sole proprietorship means that one person is solely responsible for a business’ profits and debts.
• Partnership – A partnership is a shared responsibility between two or more people who both hold personal liability for a business.
• Limited Liability Company (LLC) – a structure that permits owners, partners or shareholders to limit personal liability, but still includes tax and flexibility benefits associated with a partnership.
• Corporation – this is an entity legally considered separate from its owners. That means that corporations are permitted to own property, can be held liable, must pay taxes, and may enter contracts.

Be sure to look at which entity will work best for your current needs while still considering any future business goals. The SBA is a great resource if you need more information.

Once you decide on your legal business structure, be sure to register with the government (typically your state and sometimes, your municipality) and the IRS:

• You can find a full list of the forms for each type of entity on the SBA website. You can also find state-specific tax obligations on the same site.
• Remember to contact your municipality to see if there are any local licensing or registration requirements.
• You may also need to get an employer identification number (EIN) from the IRS. If you’re a sole owner and don’t have employees, this is not required. But you might want to get an EIN anyway to keep your personal and business taxes separate and to be sure that you can quickly hire when the time comes to expand your business. The IRS has a useful checklist to help you decide whether you will need an EIN to run your business. If you do need an EIN, you can register online for free.

Create a strong brand identity

A strong brand identity is the most effective way your new business can gain a competitive edge in an increasingly crowded marketplace.

Ask yourself these important questions:

• What identity/personality do I want my business brand to project?
• Who will want or need my products or services?
• What can customers get from my products or services that they can’t get anywhere else?
• What can customers get from working with me that they can’t get anywhere else?
• What are my brand values?
• What is the most important part of my customers’ experience?

Your answers to these questions (and others like them) will build the core of your brand. All of your future branding decisions should expand on these ideas. Your company name, your company logo, and your website design should all grow from the concepts you laid out here.

Build your team

For your business to scale and grow, you’ll need help.

Start by hiring for positions that provide the most immediate benefit to your business.

You may want your first hire to be a part-time assistant. Look for someone who is a jack-of-all-trades, eager to learn new skills, with a strong work ethic. 

If you’re new to marketing, a marketer can help you strategize your business.

If you’re not confident with the manufacturing process, hire a manufacturing liaison. 

If you’re finding it a challenge to keep up with orders, a fulfillment manager might be just what you need.

If you need help with employment or contractor agreements or agreements with your vendors, take a look at Quickly Legal, which offers entrepreneurs, small businesses and startups an easy and inexpensive way to create, sign and manage legal contracts and agreements, with many agreements that you can start using right away.

Conclusion

There’s a lot to think about when you’re starting your own small business. These steps will give you an unfair advantage and will help get you started on the road to owning a successful business of your own.

The post How to Start a Successful Business appeared first on SiteProNews.

1.  Read Often

You need to read as much as you can on the field and business in general. Work for yourself when you know that you have the information that you need.  You also have to remember that it is going to be easier to make changes to your business when you have studied.  People who do enough study learn more, and they can get around all the other pitfalls that are involved with starting your own company.

2.  Watch the Books

You have to be careful with your money because your ledger could get imbalanced really fast.  You have to be sure that you have figured out what you can do to save money, and you need to research all the steps that you need to take to get the business in better shape.  You should look to save money all the time and invest in things that matter to you.

3.  Hire Good People

You need to have good people around you who will make good decisions, and you must find some people who will help you make the best possible choices.  You also need to remember that you can get people from any industry as long as there know what they are doing.  Anyone who is trying to hire can post their job offering in many places to get the best talent.

4.  Invest

You need to invest your money in things that will pay you back.  You will find that investing is very easy if you work with the right company, and they can put your money where it will be the most effective.  You could invest a lot of your money just so that you have more money to work with in the future, and you might want to start a fund that will pay for certain things.  You can work out something that will make your company stronger and improve your net worth without much trouble.

5.  Plan

You need to have a plan that is going to get you into the future, and you have to follow that plan as close as you can.  There are a lot of people who will want to make a plan because they have things they want to do, and you have to be certain that you show this plan to everyone so that they can follow it.  You also need to remember that you can completely change your plan if your company needs to go in a different direction.  You have all the options in the world, and you can make your company move in a direction that will be more profitable.

You have to start reading and learning about how business works.  You have to make sure that you know what direction you want your company to go in, and you need to hire the best people while also trying to invest for the future.  All these things work together to make it much easier for you to succeed in the future.  Take all these steps to heart as you move forward.

The post Five Hurdles New Startups Need To Tackle appeared first on SiteProNews.

In 2014, 452,835 companies were founded, and according to SSRN, first-time owners have an 18 percent chance of success, so it might be a bit counterintuitive to jump into an online business in the current climate, but it shouldn’t. Another study, done by the Indiana Small Business Development Center, on the subject of startups found that:

• 46 percent of businesses fail due to incompetence
• 30 percent due to a lack of managerial experience
• 11 percent because the owners lacked the know-how

All of the above can be avoided if you plan right and focus on execution. If your business venture involves opening up an online store, then this article is perfect for you, so keep on reading. We are going to address the most important questions and topics when it comes to choosing the right tool stack for your online business. It will take time, strategy, know-how and a very good web-design, but it will be worth it. Moreover, always remember the quote from Jeff Bezos, the founder of Amazon:

“If there’s one reason we have done better than our peers in the Internet space over the last six years, it is because we have focused like a laser on customer experience, and that really does matter, I think, in any business. It certainly matters online, where word-of-mouth is so very, very powerful.”

Speed and Performance

How can you create the best buyer’s experience? What is your target audience? Think about the people that will buy from your online store and use your website, before you start building it. You must be prepared to fulfil the preferences of your target group and do some due diligence on the subject. 

Every segment of your online store should be well-designed and functional because the buyer’s experience is the only one that matters. Your customers are not going to waste time on a laggy website that doesn’t provide them with a good support system.

Organise every item into categories, and keep them clean and simple. Designing a high-quality navigation system for any website is crucial, but for an online store, it is the central pillar. The menu should be straightforward, intuitive and functional to help customers with item and content searches. Don’t reinvent the wheel, but instead, use web conventions, a user-friendly language, and have consistent primary navigation. Never forget to link the logo to the main page, and make sure everything is responsive before you launch it!

Speed is the other crucial issue when it comes to user experience. To ensure a 99.9 percent uptime and substantial WordPress optimisation, you should choose a high-quality web-hosting provider. Canspace, for example, is a popular choice for e-commerce and web building because it offers free applications like WordPress, Joomla, Drupal, advanced SEO tools and many other features that provide speed and security.

Use Open-Source Technologies

This is technical, as much as it is a legal issue, but at the end of the day, open-source technologies are worth it because you can use them for free. When it comes to e-commerce businesses, the most popular open-source software solutions are:

• Magento Open Source – you can create landing pages, content, manage shipping and generate reports. Magento uses a lot of add-ons and extensions, some of them free, and others come up to $5,000 per extension. A note of importance, if you’re not an experienced coder or you don’t have a coding background, Magneto might not be the best option for you.

• OpenCart – functions similarly as Magento, and it features a very intuitive and simple administrative dashboard. However, the free version is not intended for big online stores.

Other notable open source technologies you can use are osCommerce, PrestaShop, Spree Commerce and WooCommerce. Just remember to check the licence, the features and the scalability potential of the platform itself.

Shipping and Payment

There are a lot of technical aspects to an online store, but other than the ones we mentioned above, they include shipping, payment and support. The easiest way to deal with shipments is using shipping software. Find software that provides automated management of outgoing shipments, shipping labels and tracking information.

The next thing on the list is the payment gateway software that allows you to accept credit card payments from buyers online. There are hundreds of options on the market to choose from per your requirements. However, the most popular payment gateway softwares are PayPal, Venmo, Stripe Billing, Amazon Pay, Authorize.Net, Digital River MyCommerce, WePay and a lot more. If you want to use an open source, you can check out Zuora, OpenACH, the Kill Bill plug-in and others.

Furthermore, don’t forget to put up a high-quality support system for your customers. If they need help or information with a package, or if they want to return an item, you should have a strategy and a system in place!

The post How to Choose the Right Tool Stack for Your Online Business in 2019 appeared first on SiteProNews.

Starting a business is not a breeze, but keeping it running is certainly an even tougher row to hoe. From finding the right talent to communicating with teams and clients and managing finances, you’ll have to sweat blood. 

Having said that, technology isn’t just a tool. It gives startups a voice that even they didn’t know they had before. 

Below is a list of 10 must-have tools for startups to boost their business. The tools are covered under these objectives: 

• To find the right talent 
• To manage projects and clients
• To generate leads 
• To execute email campaigns 
• To market and brand your business 
• To manage finances 

Let’s have a look: 

To Find the Right Talent 

1. LinkedIn

A tool that is certainly connecting the world’s professionals, LinkedIn boasts a whopping 562 million users in more than 200 countries and territories worldwide. It has members from all 500 of the Fortune 500 companies. You can not only actively search for candidates using relevant keywords here, but also search for potential employees based on their past or current employer.

Apart from that, LinkedIn lets you look for employees based on references from the recommendations you trust. If you have a budget to recruit a workforce for your startup, you can also upgrade your membership to premium to search for, and contact, candidates privately on LinkedIn. You can also develop a complete, keyword-rich profile for your organization that may be of interest to people who wish to work with you (clients or employees). 

2. AngelList 

A relatively small, yet effective, professional network for startups, AngelList is literally ‘Where the world meets startups’. One of the most popular LinkedIn alternatives, it’s where startups can post jobs and employees can look for jobs in startups. You can also invest in a startup or raise funds for your own startup here. It already has a massive 90,300 startup jobs posted and there are no middlemen required. 

To Manage Teams and Projects 

3. ProofHub 

ProofHub is a project and team management software that puts all the right tools your team needs in one place without having to invest in several of them to manage projects and collaborate. It helps to plan what needs to be done, discuss ideas, organize files and documents, and deliver projects of all sizes. It helps to get more done easier, faster, and smarter. It allows managers to know what the team is working on, the team to know what they need to do and the clients to stay in the loop. Some of its features include Chat, Kanban boards, Gantt chart, Calendar, Time tracking, Task management, Proofing of designs and documents—all in one place. 

You can opt for a free trial and there’s no credit card required. It’s already loved by more than 85,000 teams and businesses worldwide. Its notable clients include Netflix, Google, Walt Disney, NASA, Pinterest, TripAdvisor, and many more. 

To Generate Leads 

4. Jotform 

No matter if you want a short survey form, contact form or even an event registration form, Jotform can help you with all of those. As lead generation and customer feedback matter the most in any business, Jotform is favorite of many entrepreneurs. You can have a standalone form or even an embedded one on your website. This way you can build an email list. Jotform also allows you to receive feedback from these forms. It’s one tool that is easy-to-use and quick to set up. 

To Execute Email Campaigns 

5. MailChimp

Without a doubt, a brand needs to constantly engage with its potential and existing clients. Email marketing plays a very important role in that. As per a report by the Direct Marketing Association, 66% of online consumers have opted for services and even bought something because of an email marketing communication. 

MailChimp is one of the easiest email marketing tools. Used by huge organizations as their email software, its campaign builder is extremely easy. It also provides templates for every type of campaign which include but are not limited to: newsletters, e-commerce, and more. 

6. Freshmail 

Having more than 60,000 active users, Freshmail offers free accounts to anyone who has up to 500 subscribers. The features are limited, but it also gives you the automation feature in the free package. Apart from that, it also offers text and creative templates to choose from so that your work becomes easier. 

To Market Your Business 

7. Google tools 

The marketing of your brand is very necessary. People should know you’re a potential option among your competitors. To become more visible, there are three must-have tools: Google Analytics, Google Tag Manager, and Google Adwords Keyword Planner. 

Google tools help you manage and gather the data and information which in turn can be used to spur your business growth. Any successful online marketing campaign gets better when actionable steps are taken to improve it using the data gathered.  

8. Hootsuite

Building a professional network using LinkedIn is important and so is being present on the relatively casual social media platforms. Social media presence shows that you’re an active business. It helps you reach as many people as you want. However, since there are many, including LinkedIn, Facebook, Twitter, Instagram, and Snapchat, managing all of these simultaneously can take a lot of time. 

Were it not for tools like Hootsuite, you wouldn’t be able to monitor all your social networks with the option to make scheduled posts. If you need a sorted social media management strategy, Hootsuite is the way to go. 

To Manage Finances 

9. Wave

Good finance software is a must-have, along with project and team management, lead generation, email campaign, and marketing software. Wave will help you manage your invoicing and payroll activities. As soon as you connect your bank accounts to this software, it tracks your expenses and creates insightful reports. This tool is for free and has helped a lot of businesses manage their accounts. 

10.  Salesforce Invoice and Payment Platform 

If you want to quickly and easily track invoices, payment status, and choose early payment options, Salesforce Invoice and Payment platform comes to the rescue. It’s a fully integrated platform and also makes early payments easier for you. You don’t need to worry about getting paid earlier in exchange for offering invoice discounts. 

Over to you! 

What are some tools that have helped you boost your startup business? Leave a comment and share your thoughts.

The post 10 Must-have Tools for Startups to Boost their Business appeared first on SiteProNews.

1. What’s the purpose behind this venture?

By now you’ve probably been told many times that businesses take at least two to five years to develop and stabilize, depending on the market you’re in. You need willpower, courage and heaps of determination to keep going. You will have what it takes if you’re convinced of why you’re doing it in the first place. Typically, the answer to this question should be that you really believe in the idea of the business.

2. Am I the right person to do this?

You may have a great idea, but that doesn’t mean that you’re the one who can execute it properly. You will need the right kind of help, or need to acquire the right kind of experience before you begin. Don’t jump into it before you’re confident of execution.

3. Who will buy my product?

Business, like never before, is centered around the customer. The customer’s wants should be met by your product, and with the right messaging, service and reputation to go with it. Before you jump into the building of the product, try to understand whether there is an actual market for your product. Who are the people that will purchase what you’re selling? Can they afford to buy it? Will they want it in large enough numbers to make your product viable? If the answer is yes, super! If the answer is no, try again. 

One way to figure this out early on (and on the cheap) is by figuring out a content marketing plan. If there is going to be demand for your product, there will be interest in content you put out. For many businesses, particularly in the services category, the right content growth strategies can be the cornerstone of digital marketing efforts.

4. How will I fund the business?

You may be willing to work for free, but no one else will do this. From very early on, if not on day one, you will need to pay your employees. As your business grows, it will have bills too. Figure out how many months you can sustain the business for on your own and use it as a deadline to raise funding or breakeven.

5. Am I adding value to the market?

A very important question to ask regarding your idea is whether it represents a significant improvement over what’s available in the market. If it’s only minor, the current players in the market may adapt fairly quickly and run you out of business before you even get there.

6. What’s my greatest strength?

As an entrepreneur, you need to be sure of what your biggest strength is so you can focus all your energies there. 

7. What are my weaknesses?

Wherever there are weaknesses, you need help. All businesses have three of four high-level tasks; the ones that you’re not good at, you will absolutely need to hire for. 

8. How will my business change the market?

Your business will succeed if it brings something new to the market. It could be a better product, new features, amazing after-sales service or all of those things. Given your business idea or your team, you probably know which one you’re going to focus your energies on. Be sure to include this differentiation in all your marketing communication.

9. What matters most right now?

New businesses don’t have unlimited amounts of money. You will need to make choices between two, three or even five things that seem equally important. 

10. What’s the most definite outcome of entrepreneurship?

Entrepreneurship is full of learning, if nothing else. There are things you will try while starting a business that you are certain will work, only to find out the opposite 12 months later. And the opposite is true, too.

11. How will I market my idea?

One of the most important questions if you’re building a new business in a new market. Many successful businesses (LinkedIn, for example) have been able to market their business in unique ways at very low cost. Spend at least some of your time every day pondering this question. Have a look at the opportunities in digital marketing nowadays.

12. Where do I want to be six months from now?

A lot can happen in a startup in just a week. So six months is practically long-term. Set some important goals for your business for every six months. You may not meet them, but the distance between your plans and achievements may give you insight into your capabilities.

13. Is my product or service good enough for word-of-mouth publicity?

Word-of-mouth publicity is the best kind. It’s cheap and the most honest. If it’s the kind of publicity you’re getting, you’re really making a difference. Keep an eye on this from day one.

14. Am I giving up too much?

As a business owner, you’re going to have to make a lot of sacrifices. To many in your life, they may appear to be too many. Every once in a while, it is worth asking whether you’re doing too much. No one’s saying you need to give up, of course. Although you may need some help. So always pay attention to your body and the needs of those most important to you.

15. If not this, then what?

It’s charming to think that entrepreneurs should never have a plan B. But it’s unhealthy. Any reasonable person should always know what’s in store for them if their business or job or big decision doesn’t work out. Entrepreneurs should, too. After all, most startups fail within the first 12 months. But that’s no reason to not try.

The post 15 Important Frequently Asked Questions All Entrepreneurs Should Know the Answers To appeared first on SiteProNews.

According to recent estimates, nearly a quarter of new entrepreneurs fall between the ages of 55 and 64. Given the rise in technology and the accessibility it provides, it makes sense that more workforce veterans might decide to start an LLC of their own. But while they certainly have plenty of knowledge, starting a business after retirement has its own set of challenges. Thankfully, finding your way doesn’t have to be so difficult. So strap in: Let’s discuss what you bring to the startup world and the first steps you can take now to bring your vision to life.

Advantages of Starting a Business After Retirement

No matter what stage of life you’re in, it’s never too late to pursue your passions. Such is definitely the case for retirees looking into the startup space. Age, after all, isn’t only a number — it’s an indication of a life lived and lessons learned. With that in mind, let’s explore some of the ways late-in-life business owners can leverage their circumstances to fuel the success and promise of their latest endeavor.

Experience Is Still Key

Retired entrepreneurs may initially feel in over their heads. But despite the appearance of insurmountable odds, don’t overlook everything you’ve accomplished up to this point. Your experience — both in business and in life — can often inform your decision-making. Don’t forget that you have the invaluable assets of intuition and savvy that simply can’t be won any way other than through the rigors of time. So rather than lamenting your age, harness everything you’ve absorbed and weaponize it instead.

Financial Flexibility

Although many young and hungry entrepreneurs may have big dreams and high hopes of where they want to take their business, one thing that few have on their side is a reliable source of funds. By the time you reach retirement age, you may have developed significant savings you can use to infuse your new business with some startup funds. The financial standing of your business when you start out has a huge impact on its potential; this is another advantage older entrepreneurs are likely to have in their back pocket (literally).

Solid Support System

Often, young aspiring entrepreneurs dream of the startup they want to leap into after college, only to encounter a ton of resistance. Why risk your future when you could embrace the comfort of a cushy corporate gig?, they’re told. But it’s an entirely different story for retired entrepreneurs. At this stage in your life, you may already have a family of your own, longtime friends and trustworthy colleagues who can give you honest feedback. Moreover, knowing that your social life is beyond stable allows you to relax and take your startup one measured step at a time.

How to Get Started

Now that you have a better sense of how your business can benefit from your age and experience, you’re probably wondering what you should do to actually put it into action. As you brace for the next stage of your professional life, be sure to keep the following tips in mind to maximize your chances of achieving your startup goals.

Know Yourself and Your Limits

One reason your age is such a critical ingredient in your business is that it helps you gauge the terrain ahead. Carefully consider all your options before investing your time and money in a new business venture; if something doesn’t add up, doggedly pursue the answers you need and the level of risk involved. Regardless of what business you’re getting into, you’re certain to face a variety of setbacks as you get your bearings. Use your experience to keep you ready for them before they’re upon you.

Outsource and Assemble Greatness

Even the most heralded professional minds of our time can only accomplish so much as single individuals. Remember that — and don’t burden yourself with the notion that you need to wear all hats indefinitely. The most successful companies got that way because of their leadership…but also because of the team that leader assembled to execute their vision on a grander scale. No one knows your goals better than you do, but you need other passionate team members who can contribute to them and complement your own role in the process.

Practice Self-Care Above All Else

This is a critical point for all aspiring entrepreneurs, but especially for those of advanced age. In the early days of your new business, you may be obliged to drive ceaselessly toward your next objective. While this persistence is a testament to your passion, don’t let it run your life. In other words, know when to disconnect from your work and connect with loved ones, have some fun or just get some rest. Most retired entrepreneurs will need to consider their health more seriously than their younger counterparts. In the end, remember that you won’t be able to push your business forward if you’re feeling run down.

It’s Never Too Late

With any luck, we’ve helped you feel empowered to more confidently move in the direction of your startup dreams. Now we want to help you take the next steps to make your business a reality.

Incfile has already developed easy-to-use guides for businesses across a wide range of industries, and there’s no time like the present to begin exploring your options and plotting out your startup strategy. Are you ready to get your business up and running in three simple steps? We can help you form your company and manage it as it grows, too.

For more information, visit the Incfile Blog.

The post More Older Americans Are Starting Their Own Business appeared first on SiteProNews.

There will be days when you’ll lose hope and feel frustrated. But there will also be days when you’ll see a glimpse of success that’ll give you that extra zest to keep moving forward.

Now the question is, what is that magic formula that can help you to become a successful entrepreneur? 

Today we shall learn about that from seven very successful entrepreneurs.

1. Never Back Down Because You Think You have a Lot to Lose

All entrepreneurs have to make tough choices at different stages of their lives. Sometimes things don’t go according to plan. And this is when young entrepreneurs fear to lose.

They fear to lose their investments, diluting their morals in the process. At one point, they even begin to question their decision of starting a new venture.

Well, the co-founder and CEO of ViSalus thinks he has the best answer for you. Even if you have everything to lose, act as if there is nothing to lose. Think that you have every reason to pursue your dream. 

There is no gain until and unless you are taking some risks. So keep your eyes on the prize and you will get the courage to keep moving forward. 

If you are too afraid to lose, you will never be able to see the other side of the line.

2. Don’t Think Too Much About Success

This may sound a little weird. To many, entrepreneurship and success go hand in hand. But CorpNet CEO, Nellie Aklap, advises us to work hard towards significance, not success. 

If you are doing what you love, this will help you to leave a significant impact on your career and even society. 

If your passion is what your entrepreneurship is all about, success will eventually knock on your door.

3. Search for Answers and You Shall Find Them

Trey Smith successfully established Kayabit Games, a company that has made millions over the years. He advises entrepreneurs to seek answers and apparently, this will eventually lead you to your objectives. 

Do you have a particular business plan in mind but someone else is already doing it and have established themselves in the market? Run a thorough analysis of their business activities. 

Trey believes in reverse engineering to help understand the complete mechanism of a business. Study the products and services of a particular company and their customers. 

This will lead you to the root of their success. Now combine that understanding with your ideas. Do some experiments to improve that business model. 

4. Pursue Your Venture by Doing What You Love

HomeAway co-founder Brian Sharples strongly believes that no one can stop you from winning as long as you are doing something that you truly enjoy.

If you love to write, maybe becoming a professional blogger and starting your own content development firm will be a great business idea.

If you are in love with cars and love exploring the way they work, maybe your destiny lies with your very own auto repair workshop. So the bottom line is- do something that you really enjoy. 

Also, never get too worried about failures. There are endless stories of legends that made history by rising from the ashes of failures. Take valuable lessons from failures so that you don’t repeat those mistakes in the future. 

You can’t go a long way all by yourself. Down the line, you will need more people in your boat. Brian advises hiring the best people who can serve you well throughout your journey towards success.

On top of that, having direct interaction with customers is important. This gives you the opportunity to deliver your sales pitch and understand what your target market really needs.

Understanding customers and serving them accordingly is the most important step towards success for any entrepreneur. 

5. Don’t Give in to Negativity 

There will always be those people who will spread negativity all around you. They’ll tell you to quit because they think your idea isn’t proactive.

Well, Amber Schaub, the founder of RuffleButts.com never paid any attention to these kinds of people. She kept on going even when people told her that she wouldn’t succeed. Today her company is worth millions.

Amber believes that hard work and honesty always pays off. Work really, really hard and be ethical throughout your business practices. Success eventually will come to you. 

6. Ensure Quality and Proper Execution 

In order to be a successful entrepreneur, make sure that you are hiring the best people to help you stand out. Focus on alignment and energy. 

Also, focus on small improvements that you can secure every single day. 

There is no need to be too hard on yourself. Keep climbing one stair at a time and you will eventually reach the top.

Always try to expand. Focus on those outcomes that are positive, significant and measurable. 

Don’t get too occupied with the idea of consistent growth. Keep your eyes on quality and proper execution of your business plans. Growth will follow. 

All these tips came from Chad and Troy McWhinney, two brothers who made a fortune through their real estate and development company- McWhinney. 

7. Transform Yourself into a Thoughtful Leader 

Byrnes Consulting, LLC is a multi-million dollar company formed by Mike Byrnes. According to him, to become a successful entrepreneur, you need to be a thoughtful leader. 

Byrnes gives importance to exposure from the conventional media to make voices heard. Share your expertise with others to add value to their lives so that they continue following you.

Pursue what you are truly passionate about and be consistent. Your business will succeed in no time. 

Conclusion…

So here goes the formulae towards glory prescribed by successful entrepreneurs. Do what you truly love to do, be a hard worker, ensure consistency, integrity and, of course, quality. 

Eventually, you will succeed as a successful entrepreneur.

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