Small Business

Starting a small business is an exciting and mind fulfilling experience. It's a beautiful thing when an entrepreneur begins to dream, the energy heightens, and the confidence levels are mistaken for being egotistical. Every entrepreneur believes in his or her own ideas and wants everyone to see how this great idea can prosper into a big return. The first thing that comes to mind is how much money can the business make and how much freedom will the business offer you. Having a passion for an idea can be converted into a cash cow when you bring it to life. Below are powerful real life proven steps to getting started into turning your idea into a prosperous business. Anything can be sold for a profit even on a low budget. Products Business... The 4 keys for opening the door to getting products sold on low budget start-ups: 1. Product Knowledge Knowing your product is an important step in sales. Turn on the TV and watch 3 commercials selling a product, take notice on how the ads aim for emotion or it promote a person (like a celebrity), because the seller knows the product very well. Therefore, they were able to target their audience with ease. Always be sure to sell from the heart not your mind and through the practice of the product. How in demand is the product or service? Is it needed or not? § It's easier and faster to sell needed product then not needed product. Selling not needed product may require more power in the marketing words and selling approach. Key point: (People tend to buy the sales person or the emotion before the product.) Is it a Profit or not? § If you're selling in the community can you profit and make a good living, or do you need to expand your sales statewide, or is the Internet a better place? Know your market! Get creative, and look for inexpensive ways to get the word out. Squash the high inventory: Only buy showcase stock at first, always use your sold product funds to purchase inventory, as you need it. It can be costly to stock too many unsold products, unless you have a physical storefront. What is the economic status? Are you selling in a Recession or Not? Selling in a down market is an important artery to a thriving business. If the product is not a need to have, then the product will sell slower in a slow spending market. Do your research, how are your competitors during and what is their advertising and marketing strategy? Can your Product or service be sold? The more people you introduce to the product, you will have a better chance of getting the product sold even in a slow market. You may need to be more aggressive in your advertising and marketing approach. deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow deadpeopleshow 2. Marketing and advertising Getting the word out is a real big deal and lots of work. The bottom line it's only 2 ways to get the word out, its called time and money. You either going to save time and pay someone to get the word out or you'll save money and put the time in during it your self. For this article the main objective is to start a small business with a low budget. Let's look at some inexpensive ways to market your product or service: A website, handouts, product cards, blog, Face book, email, CDs, flyers, car magnets, post cards, letters, email campaign, brochure, business cards, banners, promotional item give-away (pens), newsletter, press release, etc... Let's look at some inexpensive places to advertise your product or service: Door-to-door, word-of-mouth, local stores, Churches, events, Internet free classifieds, network parties, joint venture, B2B relationships, car ads, garage banners, banners on the side of your house or a friends house, lawn signs ask (10 friends and their 10 friends if they will allow you to place it in their front yard), garage sales, downtown breakfast and lunch rush, night clubs, Internet social media, network groups, host parties, craigslist, eBay, your cell phone voice mail, email signature, t-shirts, etc... There are many, many and many different ways and places to get the work out. Everyone should know the product exist. Always keep the product selling itself even when you're not around. You should definitely have a plan not just a written plan but an active system built into systems, this plan of systems will keep you from wasting money or going out of business before you get started in business. Your action plan will consist of: WHO will get the word out? WHAT are the steps? WHERE will you start? HOW many, how often, how long? TRACK all your results. The system is what every large corporation and successful small business owners' use to keep from stumbling too many times. It does take some time to put together a system. I cannot explain it all in this article, 3. Time "Time is money, and money is time", Time is the most valuable thing in your business and life. Make sure you track your time on each task. You could find yourself busy at doing nothing. Keep the focus on moneymaking activities. Time and Money are two crucial to your business. Your time is very valuable you should have a plan of action the night before you start your day. Plan your daily tasks, do not waste too much time on administration tasks and unnecessary running around, because unmonitored time will give your product a longer shelf life. Balance the Scale "Time is of the essence", Watch your time, if you have family you should always have balance in your personal life while running a business, please... set aside downtime. 4. Money It's possible you will need some small money to get started. Do not quit your day job yet or just keep in mind starting a small business will have you juggling your current or in between jobs; it's the worthy risk all entrepreneurs take. To take action in your small business you will need a little starting money for marketing material, gas, internet/email hosts, promotional items, cell phone, product display, etc.. A business is like raising a child or nurturing a seed to grow into a tree. It takes a lot of time and dedication. Selling a service is somewhat the same processes as selling a product. The difference from the product is that the service will consume you. Starting a low budget service business can be profitable, but you may need to invest in time management classes and/or outsource for help. Service Business... Here are 4 key principles for service low budget startups: 1. Service Knowledge You will most likely be the one performing the service. You will probably spend the first few years perfecting and critiquing your service, and building your client's trust. It's possible that time can take you pass 12 hours a day, and you will not see the clock moving. How in demand is your service? If your service is in high demand you will become very busy quickly. You may consider hiring someone who is patient about waiting for a paycheck. You may want to offer an incentive to encourage their hard work and patience. It's very important you do not overwork yourself. Reserve some energy for family, clients, and your quality service so that it doesn't lack, and you do not burn out. What is the economic status of your country? In some cases for a service not needed you may still get some business but not enough to keep you busy at first. Look at your service, how are your competitors during? Take a walk in their business and observe, and ask the receptionist a few questions from a customer point of view {it seems like your slow today? Has it been this way all week?}. Check in on your medium to large competitors, because if they are really slow you might want to rethink your plan to start your business at this time, or be sure to keep your day job while in business for yourself. 2. Time How much time are you willing to put into growing your business? I cannot stress enough on how much time and energy it takes to grow a service business. Answer these questions for understanding of what it takes. Does your family need your income for survival at that time? Are you in good physical health? Are you consistent? Are you faithful? Are you a people person? And, Are you patient? It takes a lot to grow and run a service business. It's rewarding, but it comes with a passion to work, headaches, energy, time, emotion, you name it. Do not quit the day job just yet. You should wait to build a profit from the business that will support at least your bare minimum budget. 3. Employees A service business in the beginning may not need employees right away. Keep in mind it's not always good to start a service business if you're not going to work at it first before hiring someone to replace you. You definitely want to build your client's trust before you hire someone to cover you. The client is very smart, because they already had a bad experience from the last folks they hired; this is probably how you got that client. Win them over first before hiring someone to take your place. When you do hire someone be sure to share this information with your client. Introduce your new staff and his or her qualities they will bring to the client's service. (The client is only concerned with how the new staff will benefit them) 4. Money § The good thing about a service business, is that most of your tools you use for servicing the clients needs was purchased through your years of practice, or trial and error, or through a hobby. You may only need to purchase a few things upfront. If you do not have all your tools most of the time you can rent them and charge the client for the rental fees. Your small business will need to use small money to get the word out. (See product marketing and advertisement listed above).