Category Archives: Business Strategy

Business Development, Business Strategy, FAQ, Sales & Marketing, Start-ups

Small Business Owners: Improving Profits in Daily Operations

When you own a small business, there are dozens of people and projects vying for your time and attention. It can get hard to figure out where to focus your resources and easy to become overwelmed.

Furthermore, in my years of consulting what I have found to be the difference in success or failure of a business was not the amount of money, a business owner had on hand, nor the education level of the management team. It was his or her daily habits and beliefs, that determined success or the lack there of.

What is profit? It is simply, how much money the business makes after transaction and paying taxes is over.

Traditional thinking about profit says, Revenue – Expenses = Profit. However, this method fails to measure lost opportunity.

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Business Development, Business Strategy, FAQ, Sales & Marketing, Start-ups

The Immediate Goals of Starting a New Business

Are you tired of your boss? Or are you getting ready for greener pastures? Setting up your own business can be very exciting. However, before you even take the first step, save yourself time and money by being aware of what’s involved in running a business. Investing time and money into proper planning is paramount when it comes to turning your dreams into reality. The idea of operating a small business is not just about working for yourself or from home, it’s also about having necessary management skills, technical skills, industry expertise, finance and, of course, a long-term vision to grow and succeed.

Whether you will choose to be an entrepreneur, buy a franchise, or start an existing business, the business planning resources are the same. The only things that will be different are the business strategies, business opportunities, upfront cost and step by step instructions to start various businesses.

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Business Development, Business Strategy, FAQ, Sales & Marketing, Start-ups

Building a Sellable Business: 10 Things Often Overlooked

Eventually, every entrepreneur realizes they cannot work in their business forever. For most entrepreneurs, this is the time they begin thinking of exit. Here are ten things you should think about before that faithful day.

Standardization

The first thing I will like to mention is standardizing services or products. In the onset of a business, an entrepreneur figures things out as he/she develops. As time elapses, the entrepreneur figures out what works and settles into a way of doing business. This usually happens at the $100,000 mark. The problem with this is the knowledge is embedded in the head of the owner. The owner often fails to communicate this knowledge to new hires. There is kind of an “unspoken standard” or “way of doing things”. People learn “the unspoken way” haphazardly. By not standardizing, the owner’s loses 50% of the value of the business when it is time to sell. Nobody wants to buy a business when all the knowledge is in the owners’ head and if they do there are usually lots of contingencies tied to the deal.

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Business Development, Business Strategy, FAQ, Sales & Marketing, Start-ups

Business Loans – Information for Business Owners

A business loan provides financial aid to business of all sizes (i.e. small businesses, medium-sized businesses or start-up businesses). It is ideal for business owners who need funding to enhance or expand their business. When you need a loan for your business, you must adopt a strategic approach. Cautious planning is necessary for ensuring success in obtaining business loans.

Business Plan

When you are considering applying for a business loan, it is important for you to take enough time to create a convincing and detailed business plan. Your business plan should include information, which will assist your finance broker as well as the lender/credit provider in providing you with the right type of finance and advice. Here is a list of information you should include in your business plan:

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Business Development, Business Strategy, FAQ, Sales & Marketing, Start-ups

Building Your Business With A Purpose

Building my business has been a fun yet challenging journey. My Business journey began in 1998 and 15 years later, I have discovered that the only way to build a successful business is with a Purpose. In fact, I believe that a business without a purpose is a business that is destined to fail.

When I wrote my business plan, it was written with my purpose in mind and that was, “To provide High Quality Chilare.” In fact, my purpose was the glue that held the business plan together. Moreover, as I completed each section of the business plan, it was completed with my purpose in mind.

Building a Business on purpose, takes lot of planning, lots of energy and lots of focus. Most importantly, you must be willing to persevere… no matter what comes your way. Adversity seems to attach itself to every business with a purpose; however, you must stay focused and stay the course.

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