Here are 14 tips that are important for a successful business:
- Deciding on the right product/service
- Have more than enough initial capital to set up
- Having sufficient back up capital to fund the business and your personal expenses til you make a profit
- Good legal advice regarding your lease or any legal commitment you have to make
- Keeping good financial records, with strict budgets
- Being known as a source of information in your niche
- Well trained staff
- Giving above average customer service
- At all times, being able to supply the service your customer desires, or being able to refer them on
- Being a source of information (know your product)
- Choosing the right location for your business
- A positive attitude and a strong desire to succeed
- Marketing your business well (a must for success), which includes a marketing plan and an organised marketing campaign
Let me say at this point, that if you are considering going into business and have established that there are skills you need to learn, then take the time before outlaying your capital, to obtain these skills. As soon as you start operating your business, you will be concentrating on the sales, and getting your business running smoothly. Learning new skills will be the last thing on your mind.
KEEPING GOOD RECORDS In a lot of cases, even financially minded people, hate keeping their own records. When a small business owner is focusing so much on being successful, the thought of sitting down and keeping the books up to date is the last thing on their mind.
Unfortunately, more people fail in business because of bad financial records and lack of capital, than for any other reason. If you do not know what is going in and out of your business, how do you know if you are making a profit.
Cash businesses are the worst. You see all this money sitting there, which is exciting, but it is so easy not to remember the invoice file that is filling up with bills to be paid. With a cash business it becomes more critical to keep tight control of your cash and your records of income and expenditure. It is so easy to say: "Oh, I'll just grab a few dollars and go out for dinner." Trouble is, if you are tired and busy, you might just start doing that too many nights a week!
A lot of small business people employ a bookkeeper because they just don't keep up with their own records. Paid by the hour, it is well worthwhile. Note, that I am talking about a bookkeeper, not an accountant at this stage.
At the end of each financial year, get your returns done early by an accountant, and then you know where you stand for the next year.
PERSONALITY DOES NOT KEEP YOU IN BUSINESS - KNOWLEDGE DOES You may have heard the expression, 'knowledge is power'. It is so true.
Personality may win you some extra business, but if you do not have the knowledge to back it up, sadly, your customers will leave.
We all like doing business with friendly people, but at the end of the day, we do expect a good return for our dollar spent. Customers can quite quickly turn cranky if they feel they are being 'ripped off'.
To make sure that your small business is going to be successful, address all these items on the list. Each and every one has its own merit, and its own impact on the success of a small business.
Copyright (c) 2008 Kaye Dennan
Help Starting Small Business
"A blog is a website where entries are made in journal style and displayed in a reverse chronological order.
Blogs often provide commentary on news or a particular subject, such as food, politics, or local news; some function as more personal online diaries. A typical blog combines text, images and links to other blogs, web pages, and other media related to its topic. The ability for readers to leave comments in an interactive format is an important part of many blogs.
The term "blog" is derived from "Web log." "Blog" can also be used as a verb, meaning to maintain or add content to a blog."
WHEW ? that's a mouthful. To put it simply, a blog is an online journal and can be about any topic that you want to write on: from marketing to gardening to weight loss to new business techniques.
In the business world, blogs are a great way to market your business by generating traffic to your website. My blog is going live this week and contains:
* articles I've written
* questions and answers from clients and ezine subscribers
* small business challenges and resolutions
* links to FREE reports and other resources
If you don't yet have a website, a blog can be a great substitute as it allows you to have an online presence for no or low cost while keeping in touch with your target market.
Here's a quick rundown on the major differences between websites and blogs:
Websites
* Time-intensive (if you are not very technically inclined and do yourself) or expensive if you need to hire someone to start up
* Time-delay in reaching your prospective clients/readers. They can read your information today and then must call or email with any questions or comment
* Will be easy or difficult to update/change information ? dependent on your technical skills and your site management
* Hosting cost
* Not usually updated frequently
Blogs
* Can have one up and running in 15 minutes
* Clients can immediately post replies to your blog and, just as importantly, they can see what others have written
* Adding a new post takes only as much time as it takes you to write it
* Depending on which blog entity you select, blogging can be free
* Typically updated at least once a week, can be as much as several times a day depending on the topic and author
There are several different companies you can select in creating your own blog. The most popular include:
Blogger.com: Owned by Google, Blogger is free and quickly indexed by the Google search engine bots (a.k.a. "spiders") so you can appear in the Google Search Rankings within 48 hours of creating your blog. Unfortunately, you can't do as much with customizing the look of your blog as with other companies.
Wordpress.com: Wordpress is an incredibly powerful and user friendly system (and the one I've chosen for myself) which allows you to easily host your blog on their site free of charge or, you can install their software and host your blog on your own site. Wordpress allows for customization of your blog so it can reflect your marketing brand.
Typepad.com: Typepad offers a f*ree 30 day trial period and otherwise costs as little as $4.95/month for their Basic version and $14.95/month for their Pro version. Like Wordpress, you can start with one of their templates and customize it as you grow. They pride themselves on loving their customers and having a great support system in place should you need it.
Each of the above allows you to have a blog up and running within 15 minutes, link to other websites, maintain archives, post pictures, etc.
If you need an online presence or need to generate more traffic, get your blog up and running today! What are you waiting for?
Both Kaye Dennan & Sandra P. Martini are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Kaye Dennan has sinced written about articles on various topics from Medicine, Family and Family Travel. To learn more about small business success, especially the so important marketing go to
Advantages Of Net Present Value In conclusion, you can offer a range of products and services on the Internet. The key is proper research and a great marketing plan