These Are 6 Smart Tips for Growing a Small Business

To succeed with growing a small business, it is essential to have great organizational and planning skills, as well as having a flexible approach to work. Before starting a new business venture, it is important to put in the time for initial planning before opening the doors. Here are a few things to consider for the greater likelihood of success in the future:

Get organized

In order to set up and grow the business it helps to be very organized. An organized person is that much better at staying on top of things and completing tasks. A simple strategy to achieve this is a to-do list. This can be updated daily to give a complete overview of what needs to be done on any given day. Also, this is a great way to avoid forgetting tasks or leaving things until the last-minute.

Maintain detailed records

Any successful business will keep and maintain detailed records. A major benefit of record keeping is the ability to constantly know the financial position of a business and make it easier to see potential growth options or challenges in the future. Also, if things do start to look bad, there is more time to start creating strategies to overcome those hurdles.

Analyze the competition

Healthy competition has the potential to breed the best possible results. To grow the successful business it is always worth checking the local competition to see if there is anything to learn that could help improve your business.

Be creative

Try to be creative in the process of setting up your business and think up ideas that could potentially make your business stand out from the rest. It is worth remembering that you won’t have the complete business knowledge when starting out, so you should always be open to new approaches and ideas to expand the business.

Stay focused

Even with a lot of time spent on the planning stage, there is no guarantee the business will start to earn money straightaway. It can take a little time and marketing to get a new business recognized, so it is essential to stay focused and continue to work on the short-term goals.

Understand future risks

In the early stages, it may be necessary to take one or two calculated risks in the process of growing the business. If the worst-case scenario of a particular risk isn’t too devastating it may be worth taking the risk in the hope of a tremendous reward in return.

Just Information – PEO Benefits: Employee Healthcare and More

Smart business owners like you want to attract and retain great people, and that means offering great benefits. But health, dental, and workers’ compensation insurance can be pricey, and figuring out the best options for your business can be time-consuming.

If you want to offer a solid benefits package without sacrificing your bottom line, you should consider partnering with a Professional Employer Organization (PEO). These companies handle all your HR matters, from payroll to choosing insurance plans and processing workers’ compensations claims.

How can these companies help you get better employee benefits? Here are a few ways:

They can help you get better benefits for less. Because they partner with multiple businesses, they can often get better rates for health insurance and other policies than you can-and the savings are passed on to you.

PEOs know the HR landscape inside out. If you’re like most business owners, shopping around for employee benefit plans is not your area of expertise. And this means that even if you spend hours comparing plans, you may still end up with plans that fail to meet your needs.

These providers save you from this pitfall. These companies are staffed by seasoned HR professionals who know the pros and cons of all the major plans on the market, ensuring you get the plan or choice of plans that best suits the needs of your business and your people. And you save yourself hours of time and stress.

They free you from paperwork hassles. If you’re a business owner, you know that paperwork is a necessary part of doing business. But if you partner with a PEO, employee benefits paperwork is no longer your problem. They handle everything, from enrolling new members, deducting contributions from paychecks, and handling workers’ compensation claims. Your employees get benefits that show you value their efforts, and you get hours of valuable time back-not to mention the security of knowing everything was done right.

Partnering with a PEO can improve retention. Many business owners learn the hard way that inconsistencies in workplace policies and HR administration can lead to hurt feelings and lowered morale. When you work with these companies, you’re working with HR experts who know how to ensure everyone is treated fairly and who know how to keep their promises. You can rest secure knowing that your employees’ vacation time is being tracked accurately, HR policies are transparent and applied consistently, and health, dental, and other insurance plans provide the benefits they advertise. When your team feels respected and comfortable, your team stays loyal-and your PEO can help you keep them on your side.

They know your industry. Every industry has different needs and employee expectations. These companies know your industry and the types of employee benefits your competitors offer and your prospective employees expect. Depending on your industry and the PEO you partner with, your team can enjoy benefits including vision, dental, 401(k) and employee assistance programs for those struggling with personal issues. If you’re in a field where the risk of physical injury is high (such as the construction industry), the provider can ensure that you have the right level of workers’ compensation insurance to cover your risks.

In short, a PEO makes it easy for you to offer a great benefits package.

The Reasons – Why Leveraged Sales Help Small Businesses Grow

Leveraged sales are no longer for the big boys anymore. Thousands of small businesses are turning to a different model to help increase profits and decrease overhead. Increased profits are always good, it doesn’t always have to come from the main product line. It can come from smaller supportive or secondary products. These are usually cheaper and easier to deliver than the main product or service. This is not a replacement for the main service or opportunity, but an enabler in the sales pipeline.

Leveraged sales are meant to sustain a business. Small businesses can use it to increase consumer awareness, education, loyalist and to develop a pull towards the primary opportunity. It has been easier for McDonald’s to sell all day breakfast items than to generate day long sales of its Big Mac. They offer breakfast food that is affordable all day long, which in turn draws more sales than its other food. You can develop your own opportunity to draw in sales.

Creating leveraged sales from information

Information sells and you can use it in a leveraged sales environment. There are different ways to bring prospects to your main opportunity, while making a bit of revenue in the meantime. You can use videos, eBooks, emails, workbooks, web conferencing, chat and others as premium offerings. You can use as many offerings as you want or as little as one. You can build your own online shop and sell them as digital goods.

Your leveraged sales tool bag is only as limited as you make it. The opportunities to make revenue are available as long as you’re willing to put in the time and effort. You don’t have to put advertising money behind a video series, unless you think it’s going to be big. Only do this if you have the numbers to back up your plan. This means promoting your offer for free for a while until it gains traction.

Moving forward with your leveraged sales plan

Pick a leveraged sales offer and move forward into the development stage. Take a look at your strategy and see how you can integrate it with your marketing strategy for success. Once you rework the marketing strategy, you can develop your offer and then promote it strongly. Don’t rush through the process. You may need to experiment with the marketing aspect of your secondary offer. Just don’t give up and keep up the good work.

You Really Need to Read This One – The Mindset of a Successful Businessperson

Things work out best for those who make the best of how things work out.” – John Wooden

How do you become successful at using specific methods to build and sustain your business? Well, it all begins in the mind: successful business people have a particular mind-set that I will define in seven ways:

1: They Clearly Define What They Want To Do
This means you have to take time to analyze your life and observe your vision and purpose in life. Successful business people take time to construct mental images that guide them throughout their journey; they put their business goals and vision on paper while the other people are winging it.

2: They Are Outcome Oriented
Successful entrepreneurs have a zealous drive to achieve success regardless of how many obstacles stand in their way. They have amazing clarity of the outcome. Because they take time to define what they want to do and what they want to accomplish, they remain driven to see the task through to its outcome.

3: They Deal With Actual Facts and Do What Has To Be Done
As an entrepreneur, emotions and assumptions should have a minimal influence on your decisions. Like other successful business people, you need to base your decisions on facts for accuracy. You will have to make sacrifices in your life. For instance, if according to (reliable) projections, an aspect of your business needs to change so your business can be better, do it even if it displeases or hurts you.

4: Live To Deliver Value
Successful entrepreneurs know that value comes back to you when you provide it. They understand the law of reciprocity that states so and work towards making themselves valuable too. They know that by doing valuable, they attract personal business relations that bring about greater business success.

5: Appreciate the Strength of a Mind Makeover
They change from the person they were before. They constantly seek experience through educating themselves and other people. They know the value of acquiring greater skills and eventually acquire confidence and self-worth, which helps them sustain the renewal of their minds.

6: Focus
They do not mix things; they do not let other things such as little obstacles and short-term indulgences obscure their goal. They keep their eyes on the prize and understand the importance of doing so. That is why they always choose to dedicate most of their time to the business.

7: They Regard Associations
Successful business people never forget that one can be successful by association. They respect the role of mentors, friends, business associates, and such people in quickening business advancement. They work to keep healthy associations with other people even if they do not really like them.

One more thing, successful entrepreneurs know what to avoid; they know that people who rarely succeed in business are typically those who:

1. Are afraid to try new things; they know they need to change but remain apprehensive and skeptical.

2. Are lazy and do not have sense of personal responsibility.

3. Are unobservant; people make it around them but they “don’t see.” The traditional canard of ‘particular’ people making it in society continues to blind and obscure their vision. This is usually by choice.

4. Remain closed-minded. They choose to be comfortable with their lives the way they are.

5. They isolate themselves from circumstances around them. They refuse to do things that may open up their minds to new things and opportunities. They do not learn, read books, or do things considered ‘social’ such as attending seminars. Sometimes such people are usually proud or egoistical people. ‘They know everything’ already so they find no need to seek more knowledge.

Adopting a success mindset is therefore important to business and financial success.

Now let us look at the 10-Step Startup System to starting your business. These are very important and we shall thus individually discuss them in subsequent chapters. However, just to lay them out, they include:

1. Brainstorming ideas

2. Building a business plan

3. Evaluating your finances

4. Determining your legal business structure

5. Registering with the government and IRS

6. Choosing your technology

7. Buying an insurance policy

8. Choosing your partners

9. Building your team

10. Branding yourself and advertising

When you learn each one of them, you will successfully start your business, this I have no doubt of. However, will you sustain its growth? After starting your business, you will encounter numerous unforeseen obstacles and how you handle them will determine if your business lives on and grows continuously or reach somewhere, halt, and then start crumbling.

Read This – What It Takes To Achieve Financial Freedom

What does it take to achieve financial independence? Well, the truth is that there are and there have been many ways through which people have achieved financial freedom.

While success in the past might have come from social and political connections for instance, in today’s business environment for instance, success comes from taking advantage of today’s better circumstances; you don’t need to know anybody to excel in business! Let me explain:

The Ease of Starting a Business in Today’s Business Environment

Many things have made starting a business easier than it has ever been; the development of technology is key among these things. More precisely, starting a business is many times easier today than it was 20 years ago because of advancements in communication have made it easier and convenient for businesses to connect and communicate with buyers. The internet has particularly made it easier to access information about anything. This is undeniably important in starting and managing any business.

Technology has had a tremendous positive effect, an effect millions of people are taking full advantage of to start and grow their businesses. Avenues such as mail, text, and instant messaging, video, live streaming, social media, and other budding tools have been among the most fascinating things technology has given the business world, giving it a major face lift.

That’s not all; many aspects of starting and conducting a business have radically changed. For instance, the way businesses engage in transactions and marketing to consumers has taken on a completely new life of its own. One of my friends described technology five years ago; he said, “Technology is support brought to us by nature that we simply can’t refuse. It makes it a lot easier to start a business and feel safe doing it. ”

A lot of this fundamental shift in the way we conduct business today goes back to the constant change in technology and the way people go about exchanging money. Below are two of the numerous areas where we have experienced major changes in how we do business.

We shall discuss them in a bit more detail so we can get a glimpse at what tech has changed.

The Internet

Twenty years ago, the widespread public use of the internet was still in its infancy. People were still getting over the wow-factor of building websites, using basic functions of the internet, learning new ideas, acquainting themselves with the use of email, and corporations were really competing to control the online marketplace. Google, Facebook, Amazon, and others emerged as central hubs of contemporary commerce in the digital domain.

Since then, we have seen the coming of age of technologies such as social bookmarking, social networking, search engine optimization, and other types of digital traffic generation. Today, these opportunities exist as a standard basis of operation in an enduring effort to grow sales volume on the internet.

The blogosphere, affiliate programs, and email lists that have auto-responders have come up as equally worthwhile avenues businesses can use to reach out and market to consumers. Currently, the internet has realized profits worth billions from the number of business transactions occurring online.

Modern business owners have a completely new perspective and outlook on marketing to consumers, and one demonstration of this is through the shift from traditional print advertisements and the ongoing efforts to create and develop company websites. The search for new ways to take advantage of the internet to produce new means of tapping into untapped online traffic continues.

POS Systems

A few decades ago, we had very little expertise on mobile payments or any experience with touch-screen product access especially in retail establishments. The emergence of modern point of sale systems (POS) has done a lot in offering modern retailers a great deal of benefit in optimizing their sales volume. By giving clients direct to on-site products and many payment options, POS systems make it cost effective and efficient to run a retail business.

Automation, a method that allows for inventory control measures, has completely revolutionized the current means of tracking and ordering inventory. Other developments such as mobile payments are still spreading fast.

That’s not all; with technology, new types of products have come into existence. Books are no longer the print books we used to have back in the days for instance; there are various digital versions of books (e-books), which are increasingly being consumed daily. This obviously requires a different method of product access and delivery to the customers (all done electronically), a phenomenon that has opened doors for limitless options on what someone can sell. Gone are the days when you could only stock physical goods when running a business- digital goods are taking over and presenting with them new forms of efficiency that allows businesses to run somewhat on autopilot and on minimal costs while targeting customers all over the world. That was unheard of in the past! What’s even more interesting is the way payments are processed; it is just in ways many of us could not fathom a few years ago. You can receive payment from someone living in a different country without having to go to any bank and feel safe that your money is safe. The revolution of payments (which is automated) allows businesses to accept payment for goods and services day in day out from anywhere in the world (it doesn’t matter whether their offices are closed- with a website and payment systems set, everything takes place seamlessly).

We could go on and on about how technology has developed because it evidently has, in hundreds of ways. Technology has made it starting a business a lot easier than it was two decades ago.

For instance, because advances in communication have made it possible for information to travel quicker and more effectively, distance barriers have disappeared and many businesses are wholly exploiting options such as outsourcing overseas. Businesses can now outsource duties like telephone customer service, live chat, blog and article writing, and computer programming, and this is just but one of the numerous aspects of outsourcing. Moreover, businesses can now offer live support through a wide array of digital channels like mobile phones (Skype, WhatsApp etc. ), live chat on their website, phone calls, social media and much more; the options are just limitless on how to reach out to past, current and potential customers to maximize sales and customer experience. Much of this can be done on the move; you don’t need to be seated in an office to offer support; you could be out and about, at home, touring the world, in a different continent etc. , which essentially means you don’t have to babysit the business to make it successful!

Technology has also made it easier to seek help or support. With the internet, the possibility of reaching hundreds of successful entrepreneurs and mentors is now possible through many platforms such as social media. By doing something as simple as typing words on the internet, you can reach many mentors who are willing to help startups in different and unique ways.

Many people out there have taken full advantage of the change we have today and the current opportunities to create wealth from entrepreneurship.

It is your prerogative to take advantage of the current state of affairs – the ease of doing business today; it has not always been like this!

A Stroll Down Memory Lane: The Business Environment of Yester Years

Let us take a trip down history and for comparison purposes, look at the state of doing business in the past.

First, in the past, there was a clear line between professional and private life. There were no phones, fancy tablets on which to check the stock market information at the comfort of your home, or laptops to carry work from your office to your house.

Before the 1990s, it was not easy to run business when you are away from it as we do today thanks to smartphones. Making calls outside payphones at gas stations was the norm and calling your employees or partners each time you had something new was obviously not easy back then.

It was even tougher getting work from different places; this is contrary to the online leads we have today. In 1994, there was a telemarketer. Business leads came through calls and perhaps referrals from a partner. Imagine that! It would take forever to grow, I imagine.

Globalization has also changed the business scene. In the past, only large businesses had the capacity to trade abroad. It was even more difficult to operate a business in more than one country.

In the past, licensing and other regulatory measures were tedious thanks in part to vexatious government bureaucratic tendencies that would make one hate themselves for thinking about starting his/her own business. At least today, governments have changed some policies and adopted others that make it easier to conduct business in multiple countries.

Because of a lack of efficient communication and other technology such as the internet, in the past, it was difficult to access support from experts or contact mentors. In the past, you would have to go through the trouble of meeting someone (usually marred by transport problems) to ask for technical help and guidance.

Looking at these things, you will undoubtedly agree with me when I say the internet has changed how entrepreneurs start and conduct business.

Nonetheless, things are not perfect, at least not for many people. Here is what I am talking about:

Doing Business Today: Modern Business Challenges

Even with the world having gone through massive changes such as those we have discussed – technology making it easy to start and manage businesses and expert mentors all over the world (often a click away) ready and willing to help – most of us are still not feeling confident or positive enough to start our businesses. For some, it is not a mere lack of confidence; they lack capital while others lack additional financial support from local lenders. They have very good business ideas but cannot implement them simply because they lack the funds to do so. Other people have enough capital but cannot lay out any good business idea.

I have personally met a few who have very good business ideas and the capital to start a business, but they never do so because “they find it difficult to leave their corporate jobs. ” They also claim not to have enough time to start a business from scratch, or merely stick to the “I think it’s too late” platitude.

This means that even with the world having changed, excuses, obstacles, and different kinds of pitfalls continue to exist; however, one thing is for sure, the starting-a-business challenges that may affect you today do not compare to those of starting a business in the past.

Who Wins & Who Loses

The truth is; it is much easier to start and grow a business to unfathomable levels than it is to climb the corporate ladder; there are many startups that are less than 5 years old that are averaging over a million dollars a year with very few employees to support the business. The question is; how long do you think it will take for your 9-5 to pay you a million dollars or even half of it? You decide!

Even with the current opportunities; there will be winners and losers in life. The winners are those that will choose to take the leap of faith and start taking action as far as starting their own businesses goes (you don’t have to quit your day job!) and losers will be those who decide to play safe.

With me acting as your guide through the maze of everything you need to know in respect to starting a successful business, I believe you will see things differently and take full advantage of the currently existing favorable business environment even when it has its fair share of obstacles you will undoubtedly have to tackle.

The solution to every obstacle is often simple. It only requires that you change how we think, and ultimately, how we do things. As entrepreneurs in the pursuit of real financial freedom, we have to realize that we are working in a rat race kind or world; we therefore need to change our way of doing things. It is impossible to imagine the joy that comes with knowing we have escaped the rat race and are making more money, working less hours on our terms, all the while making a difference in people’s lives.

START by changing the thought that working hard at our day jobs – usually in the corporate sector – is all we need to make it in life or is the easier option to achieving our ambitions and financial freedom.

With my little wealth of experience, I have realized that working hard for somebody else is like the proverbial hamster wheel for many people. You work round the clock, and your rewards (compared to your work value), which may be just above peanuts, never seem to be enough and a promotion is never a guarantee.

I can still recall a close friend telling me that after she started thinking about starting a business of her own, she would quickly dismiss the ideas simply because she lacked confidence to pursue that dream.

One day, she went to one of her directors with a load of ideas about how to increase productivity in her company by streamlining the sales department. The director only turned to her and said softly, “the day you become a director of your own company is the day you get to implement this. ” She said that it was in that moment that she decided to start her own company, and she did.

She went into the corporate world because of her high ambition; she also wanted money and respect. She worked her way up only to find out the truth about the ‘glass ceiling. ‘ She was working up to 80 hours per week for peanuts.

Starting your own business is the only guaranteed path to financial freedom. It worked for my lady-friend (she now owns a therapy complex) and it will undoubtedly work for you.

She merely followed simple rules that people who win, or rather, people who make it and become wealthy follow. The people who win at life and business are those that:

1. Desire to start early so that they can gain enough experience and in good time.

2. Have the passion to learn the ins and outs of a business.

3. Are eager fast learners and observers; if they are not fast learners, they are willing to do whatever it takes to learn.

4. Know how to adapt to any given situation because they have their eyes firmly on the prize.

5. Strive to achieve continuous personal development at all levels.

6. Seek mentors and do not necessarily try to reinvent the wheel. They listen to the experts and make good wise decisions based on expert guidance.

7. Seek help of like-minded individuals. In the world of business, no man is an island.

As for the losers, those who lose even with the opportunities that exist today are those:

1. People who are afraid to try new things.

2. People who are lazy, and don’t have sense of personal responsibility.

3. People who are unobservant.

4. Who are close minded

5. Who refuse to learn and read books, attend seminars.

6. Who are too proud because they think they know everything already.

I can sum up the above in this quote:

“To get what you want, you have to deserve what you want. The world is not yet crazy enough place to reward a whole bunch of undeserving people. “

These Are Five Smart Ways Small Businesses Can Use Big Data

Big data basically refers to large sets of data which are analyzed by use of various algorithms to help people make decisions and also pick trends. Big data does exist in large businesses and corporations, like chain stores and the banking industry which have data streaming in every second from website logs, social media, or other external sources. While there is no option for them other than handling the big data and working with it, small businesses have only a small amount of data to deal with. This important link will provide more information on how experts can help you deal with data to make various decisions. So how can small businesses benefit from big data concepts?

To make operations better

Have you ever wondered how the big companies manage to make smart decisions concerning their target market? If you did not know, they use analytic data results to learn about the market and decide on what to provide or not. As a small business, you cannot afford to ignore the use of data if you need progress. Whether you choose to use Google Analytics or any other tool, being data-oriented will help in making smart decisions.

Understanding the target market

The market is the backbone of every business and one ought to take care when approaching the market. Big data focuses on keeping customer information like preferences and the common products they use. As such, the system will help in analyzing this data and provides reports to the business owners and managers. If you own a small business, then you need to be data-oriented when it comes to understanding the market. Understand how people react to the product in terms of numbers, and based on that analysis, decide whether you need to improve it or change completely.

Keeping the competition in check

The old ways of visiting your competitor’s shops posing as customers or relying on hearsay are no longer applicable as far as keeping your rivals in check is concerned. Today, people are innovative enough to have various activities that tell you everything you need to know about the competition. Whether you choose to use social media data, Google trends or any other data, you can easily gather this from the comfort of your desk. Big data is indeed informative when it comes to these resources. However, one will need resources no matter how small the business is.

Understanding trends

Do you wonder why it is crucial to understand trends? People tend to buy with trends determined by economic status, fashion and the general way the world is changing. Big data can help you monitor patterns and general response to the product you have put on the market. More so, one can use the same information to predict what the market will look like in the near future.

Employing the best

Staff determines the success of a business to a great extent and data can help you get the best. Human resources related data is usually available from different channels. It includes the productivity data, absenteeism and much more which helps a manager or small business owner make the right staffing decisions.

Read This – Make Way For The Voice Revolution In The Events Industry

Voice activated devices and voice control are quickly becoming an integral part of our lives. We’ve become so dependent on technologies like Amazon Alexa and Google Assistant that this technology is often overlooked and taken for granted. While we’ve accustomed ourselves to voice controls, is the event ecosystem ready to brace the revolution in voice? My bet is that it will soon make way and completely overhaul the attendee experience.

Voice revolution

According to eMarketer, 35.6 million Americans are expected to use a voice-activated assistant device at least once a month in 2017. This number is a 130% year on year jump. eMarketer forecasts that Amazon will dominate this space soon, but that might change with a rising number of investors thinking that things will change much rapidly. For now, it is a two-way battle between Amazon and Google, with Apple and Microsoft nowhere in the picture.

The growing acceptance of voice-controlled personal assistants among consumers will result in an increased expectation of technology in the future. As people become more acceptable and comfortable with this technology, they’ll expect it to be used in other areas as well. This rising expectation will naturally spill over to the event industry through event apps. In an already evolving event technology landscape, adopting voice controls can prove to be fruitful for those who embrace it and disastrous for those who miss the wagon.

Voice Applications in the Event Industry

Event Registration and Check-in

With the rapid advances in check-in technology in the event, the queue times has drastically reduced. The adoption of Near Field Communication and other onsite check-in solutions have quickly transformed the way attendees experience event check in. I think the future check-in option will be an automated, voice based system. The solution will recognize attendees by their voice and reduce the check in time even further.

Information Retrieval

AI-powered voice controlled apps have become quite common in homes and on smartphones. As people become more dependent on this technology, information retrieval by asking questions is likely to become the trend. For event apps, one instance would be giving registrants the ability to locate sessions by simply asking “where is the next session?”

Voice-powered vending machines

Vending machines with voice control have been there for a while. It is likely to become popular at events too, with robot vendors offering services to attendees. While many people may still prefer a human vendor, attendees who have a tight schedule may opt for robot vendors to save service time.

Vocal event feedback

Voice control devices can work both ways. It can help attendees get useful information, and at the same time, give feedback in their own voice. Mixed with real-time emotional tracking, the entire way of receiving feedback from attendees is drastically going to change in the near future.

Expected roadblocks before this becomes a reality

Even though voice control devices look promising to enhance attendee experience, there is still a long way to go. There are still issues related to security and reliability. A major security threat to the implementation of such devices is accessing data simply by mimicking the voice of others. As security enhances gradually, this problem might be overcome, but for now, dual factor authentication is likely to reign supreme.

Another issue is the reliability of voice control. Has it ever happened that you’ve said something and Siri or Cortana have misinterpreted it? I am sure this is common with people who have strong accents. This can be problematic if the voice-controlled assistant misinterprets accent during a large event. While voice control can enhance the user experience, it only takes a single misunderstood word to make information inaccessible. That’s when the search boxes and menus will come handy.

Final thoughts

The growing popularity of voice controlled devices will result in a much higher level of attendees’ expectations. Whether or not voice control becomes the defacto interface or not, it is too early to predict. But either way, it is going to be a game changer in the events industry.

Learn From This – 8 Mistakes To Avoid When Pitching An Angel Investor

The secret to getting your business startup pitch accepted by an angel investor comes down to understanding where others before you have failed. While their attempts may have been fruitless, it doesn’t mean they yours have to be. Learning from their mistakes can give you the edge you need to succeed and garner the attention of a private investor to take your business to the next level. Here are the top 10 mistakes that entrepreneurs make when it comes to pitching an investor on their big idea.

1. Pitching An Investor That’s Not Interested
Sure, you may want a particular investor to seed your business startup, but soliciting a funder without permission can get your name blacklisted in the investor circle. Stick to investors that have shown an interest in your market as well as your company for your best shot at rising to the top of the crop.

Recognizing which private investors are vested in your company before you pitch them can increase your odds of scoring a deal and prevent a time-consuming dance with an investor that has no interest in doing business with you.

2. Excessive Business Plans
Having a thorough business plan to provide to angel funder is a savvy business move. Making sure it is readable and easy to absorb quickly will set you apart from the crowd. Too often entrepreneurs get hung up on their idea and can overload a private investor with too many details that are just nuances to them. This can cause an investor to lose interest quickly as they don’t have the time or the patience to fully read the proposal.

Instead, try to include a short but detailed executive summary and a PowerPoint deck that they can page through. They will be sure to ask you questions if they need additional details to make their decision. It is better to give them the highlights in a concise and informative way than bore them into submission with your overabundance of information.

3. Failing To Show The Market Opportunity
During your pitch, it is your opportunity to show your angel investor the potential of the opportunity at hand. You want them to embark on the journey with you, and you need to seize the moment. Show them the market possibility and let them see the burgeoning potential before them.

Assuming that your private investor is already versed in the market can be a mistake that you may regret. You need to use your pitch as a chance to inform and educate them on what you know and are wholeheartedly excited about.

4. Ignoring Your Competition
Going into a pitch where you choose to ignore the competition may not be the best move as your seed investor is keenly aware that you have competition. They want to know who they are and how dangerous they are to your business startup.

Do your homework on your competitors and be prepared to tell your business angel what separates your business startup from their established company and how you plan to excel past them. If you go in with a plan of attack and acknowledge your competitors, you’ll fare better and show your experience in the industry as well.

5. Not Showing How The Product Works
Presenting a pitch to an angel investor pitch can make even the most confident of entrepreneurs wrought with nerves. This can explain why many first-time business start-ups fail to show how their product works. They forget the entire demo aspect of the pitch and the real part of the show that helps seal the deal.

Let your business angel know what problem your product or service solves. Be sure to walk them through how it works. Give them samples and make sure before you send your pitch that they understand it as intimately as you do.

6. Sidelining The Team
If you bring your team for support to your angel investor pitch, don’t forget to include them in the presentation. They are a valuable part of your business, and you need showcase their skills and talents. Let them help present the pitch and use their areas of expertise to your advantage.

Angel investors like to see all the people that will help a business startup thrive and a good team backing you can help push you to the next phase of the funding process.

7. Unrealistic Valuations
Going into an investor pitch with a valuation that reaches the sky may not be the best strategy to gain interest from your seed funder. They will be immediately turned off by the impracticable number and show opposition to the rest of your pitch. Be frank in your valuation and be ready to support the number you have provided.

If you feel your valuation is dead on, go with it and be confident in your decision. Show your investor your worth and provide evidence to back your valuation during your pitch.

8. Failing To Research, Your Investor
One of the most important things you can do as a business startup looking to pitch an investor is to do your homework on them before you meet. You should know their business interests as well as their achievements and be able to recite their history forward and back. The more you know about them, the better, as you can be assured they have done their homework on you.

Avoiding the mistakes that fellow entrepreneurs have made can help give you that needed boost during your angel investor pitch, and you avoid the pitfalls that have become others. Use these errors to your advantage to really impress your angel investor and close the deal you have been envisioning for your business startup.

Make a Decision – Making Steps to Buying Your Next Business Program Sold at an Event

How to Avoid Making Impulsive Purchases from Success-Promising Gurus

I recently attended a 3-day business conference in Vancouver. There were about 500 people in attendance, all business owners and entrepreneurs who where there to network, learn and be inspired.

All in all, it was a great event that resulted in my meeting new people and gaining valuable insights that I brought home with me to infuse into my business.

The conference boasted nine high-profile speakers including thought leaders like Jack Canfield, Dr. John Gray and James Malinchak. Their talks were entertaining, insightful, informative and motivating.

They certainly learned the craft of being an influential presence on the stage well.

But make no mistake, each of these speakers were there with the sole purpose of promoting their wares and influencing the audience to purchase their key strategies, programs and courses that promised business success.

And they succeeded.

The volume of people that ran to the back of the room to grab their limited-time, extraordinary low-cost offering before it was sold out was mind boggling.

As a member of that audience, I was fascinated by what I was witnessing. Perhaps it was my state of mind or the confidence I already felt in my capabilities of achieving further business success, but I was not at all tempted to be a part of the crowd to run to the back of the room and grab a purchase.

I looked around and saw men and women who were involved in a variety of different businesses and industries. Many of whom where desperate to get that SECRET FORMULA that would transform their struggles into riches.

And the speakers on the stage knew this and played right into their hands.

Throughout the 3 days, the audience was presented with lots of solutions, advanced systems and formulas on how to achieve success in their business. But the problem is, not all proposed solutions were ideal for everyone.

But what is a business owner and entrepreneur to do?

They are attending such events to help them with their business so are naturally attracted to the offers made up on the stage.

So to help avoid make irrational and emotionally-based decisions when faced with the pressure of live event and even free webinar offers, here’s 5 steps on what to think about first before jumping in with the crowd and grabbing your purchase:

1. Think things through first. Ask yourself if this opportunity is truly going to get you the return on your investment if you make the purchase. What are you willing to commit to in order to get the most out of that investment?

The key here is to understanding success is not just going to happen by signing up, but to actually do the work. Are you realistically willing to do the work? Are you going to be 100% committed to this or will you get home, set it aside, and promise to get to it when you get a chance?

None of these programs will get you the results these presenters are talking about if you’re not committed enough to follow through on every single step provided.

2. Be objectively critical. When these speakers are on the stage, they are sharing the best success stories possible – the cream of the crop. Often this reflects only a minor percentage of those who have taken the program.

Analyze. Be objective. And don’t make emotionally-based decisions that compel you run to the back of the room and purchase. This is exactly what they are counting on.

3. Decide if your business can truly benefit from what you will learn. Just because they are telling you this on stage doesn’t mean it’s a perfect fit for you, your business model and your goals.

As an example, if you have the gift of service and support, then more than likely will not do well learning to be a speaker on stage, despite that presenter saying “anyone can do this using my system and processes”.

If you have the gift of, say, music, then being a published author is probably not something you should pursue, despite being provided with a “fool-proof, iron-clad method that will get you on the Amazon best seller list”.

Ask yourself if what this presenter is offering exactly what you need to learn in order to reach your business goals or is there something better suited for you available elsewhere? Do you really need to learn all of this yourself or is hiring someone who is an expert in that area a better decision that will help reach your goals quicker without having to become an expert in that field first?

4. Recognize the emotional manipulation that’s happening. We see this all the time. Whether you’re attending conferences or online webinars, there’s always a “limited time offer” that makes it irresistible to pass up.

Don’t let these “One-time-only offers” lead you into thinking this is the only chance you’ll ever get to take advantage of what’s being offered. It simply isn’t true. It’s a sales tactic that preys on people who make emotional decisions and don’t want to be left out or miss out on an incredible opportunity.

These programs will all still be offered after the hype ends. Even if that means paying $50 more, so be it. Give yourself time to objectively work through the pros and cons and decide whether it’s worth your investment or not.

Don’t let your emotions be triggered by the slick sales speech or written sales copy on a page.

5. Do your research. This may not necessarily be the case for headliner speakers we see on the stage, but sadly, there are a lot of very smooth-talking “gurus” out there who are nothing but smoke and mirrors. They offer a lot of hype but little substance.

Do your pocketbook a favour; before investing in any kind of program or product, research the person selling it first. Do a Google search and see if any bad reviews come up. Ask people in your social media groups if they’ve had any experience with that person and what were the results.

Your goal is to make an informed decision, not an emotional one based on the promises of the sales copy. And if you do encounter negative reviews – listen to your gut. So many times wrong decisions are still made because, as human beings, we’re highly influenced by emotions and we can easily justify our actions based on those promises despite finding evidence to the contrary.

After reading this, you might think I’m against purchasing programs and courses all together but that’s not the case at all. I’m not saying not to invest in business growth strategies, but instead to make informed, objective decisions on which investments to make in the first place.

The sad fact is that marketing can be a very manipulative process that is meant to create fear- and lack-based, emotional responses. The people we see on stage, as well as those that do highly visible free webinars, are masters at pulling these emotional triggers.

Simply be aware of that manipulation and follow the guide I outlined above to help you decide whether or not your business can truly benefit from that investment you’re being asked to make.

Yes, You Need This – Look Up to The Small Business Services for A Well-Established Business In The Next Five Years

Setting up your own business, though at a very small level, always sound as an attractive initiative to those tired of routine hectic jobs. But one must be quite logical and thoughtful about implementing an effective measure before quitting his nine-to-five job with a handsome salary package. You must have a strategic planning by your side as one of your vital initial measures for a long surviving and a progressive business. Obviously, no one wants their efforts, hard-earned money, and time to be doomed and result in utter disappointment.

A wise advice to any newly emerging or about-to-drown entrepreneur is to look for the highly professional and certified small business service providers in your state for the most accurate counseling. They surely have impactful business solutions that can serve as the perfect remedy for any obstacle encountered by a budding or suffering business. These platforms are teamed up by a professional staff having years of expertise for dealing with the most crucial business problems that an organization may encounter.

Learn how they can aid you; the Small Business Services serve as an expanded resource hub for the striving business personnel.

Individual guidance

No matter in which industry you want to set up your business, the small business assistance platforms serve as the most sincere and professionally wise advisory agencies. You can trust them to openly discuss about your business ideas in the respected field of interest. They suggest the most suitable business options for you considering the various aspects and your resources like the finance that you have for initial investment and how much profit you expect to earn monthly. Therefore, your most fitted business plans would go accordingly.

Business License and resources

They help you with the essential resources required at every stage of establishing your business. You do not have to bother about your lack of resources once you are associated to any small business service provider. They also fully support their clients for attaining a legitimate license for running an authentic business in their state. Once you are a certified business license holder, you have all the legal freedom to run your business.

Dealing with Taxes

For a growing business, dealing with the fussy tax agencies is itself a big hurdle. Small Business Services enable you to survive well in that boat too. They design well planned strategies for you to get through your tax clearing. They manage the tax preparation and filing process for you so you can look more towards your business progress.

Bookkeeping

They relieve you from the burden of bookkeeping responsibilities of your business too, which is itself an enormous task. They maintain the records of your staff’s monthly income, your profits, important deals, your products’ fluctuating costs and much more.

You Should Know This – Learn About A Few Influential Small Business Tips for Establishing a New Business

For any business you want to start, try the below mentioned fertile small business tips.

Go with the flow and have risk-taking attitude- keys to success for a flourishing business

As said by the leading entrepreneurs, there is no one success formula. For some, the smartest business tip may serve as a new direction; while for others, it might turn just to be a burdening strategy.

Many fear even from a start-up gear of laying the foundation block for one’s own business. Often you must have heard people making excuses of not having enough finances to risk on capital investment, others saying of having scarce time due to other professional obligations. Some fear a lot from failure while some do not have the guts of taking up the challenge and incurring additional responsibility.

Mostly people have an escapist attitude as its much easier to blame others and find their fault rather than holding yourself responsible for any consequences. Though people feel adored to be accredited for fruitful results but unfortunately are hardly prepared to accept the darker side.

When you start a business, you learn with time what your business needs step by step. However, be smart and prompt and try to adopt a fast pace in fulfilling your changing business demands for the prosperity of your entrepreneurship.

Accept the facts

The scope of losing is large for startup businesses, as many do not have a clear vision of success. Every new entrepreneur is passionate for success but they are not much aware of the tactics that will bring in great victory for sure. If your mind is lingering more on the losses you can incur from different aspects of your personal business, it will just decelerate your pace of the progressive roller coaster results. Remember the best formula to move on the brighter side of life is to get rid of the worries holding you back by facing and finding appropriate solutions.

Be highly absorbent to accomplish your destiny

Never show a repellant attitude towards several ideas regarding your business, coming from all sides, your colleagues, friends, family and relatives. Always welcome small business tips to be privileged with honest advises that might enable you to have a sparkling business future. Try to listen more before reconstructing your strategies and learn from the experienced business men. Though, you are your best judge and truly know what your business goals need, but your ideas might just be revolving in a small circle.

Be uncommon

An effective advice for any new small business owner is instead of working on business plans for a certain industry’s product that you are interested in or that has hyped in the current market, focus on launching a product that is deficient in the market yet has highly trending demand. Such product will help you earn a name in the market as it has tendency to fulfill the target audience demands, therefore it surely has some worth.