Posts

How to Start Up Your Own Business

/in /by

StrategyDriven Starting Your Business Article |Start Up Your Own Business|How to Start Up Your Own BusinessWhat an exciting time for you! You have decided to start up your own business, and your heart beats faster and a trickle of sweat creases your forehead.

A million thoughts bombard your brain as you have your epiphany moment when you realize that all the events in your life have been leading to this grand moment – your destiny! Maybe you should put the brakes on for a minute, though, and begin to think of things like business growth strategies for your masterplan.

Here’s a quick step-by-step guide for you to follow.

Is this a business with a hook?

In other words, is there something unique about it that will make people want to buy from you? This may not be the case, but there may be a zillion businesses like the one you thought of, and if that’s the case, then you will have to have that “Wow!” factor that’s going to get the people running to you. What will that factor be for your product or service?

The expert market research writer at best essays, says that if it’s something brand new, then the field is wide open, and your business may fly very early on in its existence. Can you cope with this scenario? You could find yourself shooting to the sky while your business collapses around you.

That’s obviously a worst-case scenario, but you must consider all the possibilities and how you would deal with each of them. That’s very smart thinking.

Structure, structure, structure

The more pillars to support the business, the better. One little pillar could collapse very easily, but a couple could hold up the framework if one or two collapse.

It’s important to firstly think of the top structure. This is an extremely important question – do you want a partner? Do you have someone in mind that would be a good fit? It’s nice to have the security of having someone with you to deal with all the myriad events that occur daily in the running of a business. Is that person going to have an equitable share? If he or she is bringing money in to start the business, that’s great.

However, a word of caution – most people have a story to tell about “the partner from hell.” You don’t want this; your business doesn’t need it and your sanity doesn’t need it. Even best friends can turn into monsters. Money does funny things to people.

The blueprint for success

If you are going to go it alone, or even you risk having a partner, you will probably need funding for your business. You are going to have to get a business plan together, and you could seek an operator that will help you in this endeavor.

All financial institutions that you approach will ask you for a plan, and it must be a sound scenario that looks at your objective, projected income and profit margins.

According to a renowned motivational speaker and researcher at an assignment writing help, don’t lose heart if you get turned down by one company. Try and try again, and if your plan is sound, you will find someone who will back you.

Also, take another look at your plan and maybe do some fine-tuning. There could be a simple reason why backers are turning you down. Don’t be afraid to ask questions and find out what exactly is troubling them. Some adjustments could see you get that finance! You could approach a small loans provider. Get ofay with all the legal structures and requirements.

The dreaded paperwork!

You will have forms coming and going like never before, but they are a necessary part of starting a business.

There are the forms for your backers. Signed, sealed delivered should be the sequence of events here. Ensure everything is completed on these vital forms. Read the small print! Ask questions!

There are many business structures, and these may change as your business develops. Each time there will be more forms. Read the small print! You will need to plan and think of leases, utilities, staff payments and so on.
More forms! Read the small print.

What’s in a name?

Well, a lot actually. A catchy name for your business will go a long way into grabbing the curiosity of others. Does your name accurately reflect the nature of your business? This is not vital, but it helps in honing down the possibilities when people are thinking of a service that they need.

A cute but irrelevant name could be fun, but also an annoyance. If you’ve ever watched the goings in Shark Tank, you’ll know how the sharks get irritated when the presenters think they’re onto something good with a name but it’s quite meaningless. Anyway, think, test it out on friends and ask them to be blatantly honest with you. Catchy and relevant is the way to go.

Register your company

You must register your company with the government and the IRS. If you have gone with a small loan’s provider or a business start-up consultant, they will be able to help you with all that is needed in getting your company in line with the government requirements.

You will find it a requirement of most states to supply a form stating the nature of your business. When it comes to taxes, you will need to keep your business and personal taxes separate. There are rules aplenty when it comes to the IRS, but again, you can get expert help on all this from your consultant or backers. Just ensure that you have completed everything that is needed by state and federal governments. Don’t leave any strings hanging that can trip you up.

Get insured!

This is something that slips the minds of a lot of people. There could be damage to the property you have rented, or theft, or a myriad nasty things that could happen.

There are quite a few different insurance policies that cover various aspects of your operation. Make sure that you know all about them, especially if you are providing a service. It is the nature of life that things can go horribly wrong, and when it does and you’re insured, then there’s nothing to worry about.

Speaking of those strings that can trip you up, most business memoirs will include events that damaged a company, but the owner wasn’t insured. It could be a small thing that would never occur to you. Again, get the advice of insurance experts.

Tackling the team

If you’re going to have a sales team and specialists working for you, build your team wisely. If you’re going to advertise, use the sites that you think will attract the right people.

Make use of the call-back system that Broadway operators use when casting a show. Get the person to come back and then back again. It’s rare that producers of a show cast the person the first-time round. By using this system, you’ll make doubly sure that you have indeed chosen the correct candidates.

Also, when using “call backs,” have different people with you when interviewing. This way, you’ll get the perspectives from all the angles.

Is anyone there?

This is a simple one yet can make or break a company. Once you have everything in place, get to market your company. If no-one knows about it, how can anyone buy from you?

Depending on the nature of your business, find out what will make the right impact, and this should be a team effort. Today, besides direct marketing, using digital marketing to its fullest extent will ensure that people get to know about you, quickly! Here’s some sound advice – only market when you’re ready to. There’s nothing worse than garnering a demand without your ducks in a row.

Conclusion

Good luck with your efforts. Three words you must keep in mind all the time – Plan! Plan! Plan! Let this be your mantra on the road to success. The times are challenging but challenges always throw new opportunities and that is what builds new brands and billionaires.

About the Author

Charlie Svensson works as a freelance academic writer for an assignment writing service that ranks as the best thesis, dissertation and essay writing service in the business. His work is centered around providing assignment writing help to university-level students, both native and foreign. He is currently authoring a book on the role of sports in career excellence and plans to release it around January next year.

How To Become Successful In The Fashion Industry

/in /by

StrategyDriven Professional Development Article |Fashion Industry|How To Become Successful In The Fashion IndustryRegardless if you’re launching a clothing brand or you want to make your fashion business known globally, there are various ways on how to be successful in the fashion industry.

While it’s helpful to have a little experience, it’s easy to learn about fashion as you go using online resources, books or classes. What you need is a thoughtful business plan and some brilliant marketing ideas for your fashion company to take the first step on that path of success.

Below are some of the ways to become successful in the fashion industry:

1. Create A Recognizable And Strong Brand Identity

If you don’t have any clue on how to create a brand identity, there are many ways to find out how. For starters, you can check out a podcast about marketing. You can research online, or seek the help of a professional. Like any business, you would want to stand out from others in a distinct way. In order for your brand to do well and be unique, determine what concepts, ideas or actions represent your brand and make it different from your competitors’.

For instance, you may only sell dresses that fit a certain style or look, or maybe all your clothing is made sustainably. In that case, you will want to create a unique logo to illustrate what your brand is all about. It should incorporate certain elements to relate what it is you’re offering.

2. Think Of Your Niche

In the fashion industry, it’s always important to stand out if you want to become successful. The primary goal, then, is to know your niche and establish your identity on that.

It’s also better to be a master of a certain niche than focusing on multiple ones. In this way, you’ll recognize if you do one thing well instead of trying to please your audience by creating or designing a lot of products.

For instance, if you offer bridal wear, never try offering swimsuits. Also, if your passion is women’s shoes and accessories, don’t include non-related things in your line, like items for babies. Just focus on your niche and seek to be recognized in that first before you expand.

3. Build A Network

Building a network is easier said than done. You really have to work hard for it. A successful business strategy means checking in with your customers, connections or followers. Drop them a line or a text saying hello. Ask for their input. Keep them posted on your business.

A lot of brands accomplish this by connecting with their customers on a regular basis via social media or blogs. Your willingness to build a long-lasting and honest relationship is what builds a good network around the fashion industry.

StrategyDriven Professional Development Article |Fashion Industry|How To Become Successful In The Fashion Industry4. Take Advantage Of Social Media For Promotion

Make an account in social media platforms, like Instagram, to post photos and captions of your clothing items. Then, don’t forget to use hashtags to get all of your posts seen by your audience. While Instagram is most helpful in promoting fashion brands, other social media platforms such as Twitter, YouTube, and Facebook may help you reach a bigger audience.

If possible, try to post daily in order to offer lots of content, and stay consistent. Keep your accounts professional and updated. That includes your contact details on your professional website.

5. Listen To Feedback

Whether it’s from your staff or customers, it’s critical to take feedback into consideration. This will enable you to make some helpful improvements, thus making your brand better and more successful. Constructive feedback helps you determine which changes you can apply to your business in order to provide the best possible fashion items for your customers.

Moreover, if people are unsatisfied, or if they offer you advice on how to make your brand better, make sure to take note of it so you may refer back to them later.

6. Dress For Success

Appropriate attire and good grooming are crucial in the fashion industry. It’s your look that reflects your exceptional professional abilities. It has been noted that those who have been successful in the fashion industry dress to further their brand. They emulate the styles that their clients desire in both appearance and value. Whether it’s their shoes, or handbags, or accessories, moguls in the fashion industry dress for success.

7. Stay Updated With The Trends

Individuals who are passionate about what they do continuously advance by understanding the current trends in which their target audience is interested. You may do this by subscribing to fashion magazines, checking fashion social media influencers, and reading fashion articles online.

The formula to success in the fashion industry is a combination of flowing with the trends while keeping it unique for your customers. Comfort, style, elegance, and functionality are all vitally important with regards to fashion. Each of these elements can come and go with the latest trend. To be successful, there’s a balance that needs to be met between your core value and what the next craze is in society.

Conclusion

Whether you’re starting your own fashion brand or attempting to be perched at the top of the fashion industry, the competition can be tough. Just like with any trade, it’s sometimes hard to establish your brand because the fashion industry is filled with creative and like-minded individuals. But regardless of your niche or experience, it’s always possible to be successful in this industry. All you have to do is to work hard and believe in your passion.

The Importance Of Staying In Your Lane As A Business Owner

/in /by

StrategyDriven Entrepreneurship Article |Staying in your lane|The Importance Of Staying In Your Lane As A Business Owner However, staying in your lane isn’t always an insult, and it can actually be very beneficial for your business.

What does staying in your lane mean?

Basically, it means that you don’t try and do things that you aren’t good at. Or, more accurately, you focus on your key strengths. Lots of business owners will try to tackle too many things, which means you end up exposing your biggest weaknesses.

As a business owner, you must realize the importance of staying in your lane, rather than attempting everything by yourself. It may seem like you’re lazy, but the following points do a great job of explaining why this is the best approach to management:

Everyone focuses on their strengths

If you stay in your lane, it means you focus on what you’re good at. You might be an exceptional salesperson who captures leads like no other. It’s what you built your whole career around, so it makes sense to devote your time to closing sales. If you don’t stay in your lane, you waste time doing things you’re not good at, meaning your business misses out on your sales skills.

The same goes for other aspects and individuals within your business. If your employees focus on their strengths, you will see an improvement in performance. This is why things like IT outsourcing services have become so popular in modern times. Business owners are starting to recognize that they’re not adept at dealing with technical IT issues all the time. Instead of wasting time trying to fix IT issues, they outsource to people who are actually good at it. Everyone stays in their lane, leading to a massive boost in productivity and efficiency.

Fewer mistakes and errors

If you were asked to translate something, with very little knowledge of the foreign language, what do you think would happen? You’d give it a go, but there’d be countless mistakes and errors. In fact, you’d continue making mistakes until, eventually, you get the translation right. By contrast, what if someone fluent in that language was asked to translate it? They’d get it right instantly, saving a lot of time and minimizing errors.

You can apply the same principle to your business. If you’re doing things that are out of your comfort zone, you’re bound to make mistakes. There’s no avoiding it as you aren’t experienced. But, if you stay in your lane and focus on your strengths, there will be fewer mistakes. It’s the same for everyone else in our company, meaning your business makes fewer mistakes and errors on the whole. Again, this translates into improved performance, but the lack of errors can also boost your customer service.

In conclusion, business owners should identify their key strengths and stick to them. If you’re not good at something, find others that can fill the void. When everyone stays in their lane, a business operates far more efficiently.

Understanding the Importance of Business Process Design

/in /by

StrategyDriven Process Management Article |Business Process Design|UNDERSTANDING THE IMPORTANCE OF BUSINESS PROCESS DESIGNBusiness Process Design is one of the most critical steps of BPM that needs to be designed after the proper analysis and detection. The core purpose is the identification and implementation of the optimized process that ideally meets the expected requirements as per the strategic business needs.

Business Process Design for strategic management carries significant importance due to the availability of specific interpretation. The process is more strongly associated with the development of cost-effective approaches that can ideally be implemented for the perfect execution of various tasks involved in a business. However, every individual has his perception of understanding multiple aspects, but it is quite essential to understand the importance of business process design before pursuing any of the businesses.

If you haven’t identified your business process needs appropriately, then it’s the right time to pull up the socks. Here in the present discussion, we will highlight the importance of business process design.

Importance of Business Process Design

BPD is important for endless reasons including:

Proper Alignment of Operations with Business Strategy

To change or modify the business strategy usually requires improving multiple operations being performed by different people involved in a business. It is also a natural phenomenon that people find it challenging to accept the changes, so they resist it mostly. That’s why the rules, processes, and the individuals that are part of old strategies can create a significant impact on the latest policies.

It gets facilitated by Business Process modeling by:

  • Properly assisting executives and managers of the organization in sustaining reliability in all the business processes. It all can be done by keeping a proper eye on the entire operations and strategy of the organization.
  • By ensuring that the operational tasks and activities of the individuals are correctly aligned with the strategic goals of the organizations. If there is any misalignment in the strategies and objectives, then it may cause failure in proper executions. Even if the organizational tasks are performing optimally, the overall success of the project cannot be assured.
  • By the proper implementation of “Business Process Re-Engineering (BPR)” by adequately analyzing the current performances and altering them to enhance the performance. The significant aspect of business process analysis is the proper identification of bottlenecks and unproductiveness in the process and ultimately improving them.
  • Properly allowing the process agility, the capability to modify and communicate the processes in no time. It results in taking the better advantages of the latest opportunities of the business or tackling the business challenges.

Enhances Business Process Communication

One area that plays a significant role in creating a successful business is the presence of a clear idea about the tasks an organization has to perform and the goals it has to achieve. How these goals can be made and what the roles and responsibilities of every individual are. Clear communication regarding the operational processes is essential for the proper facilitation of the team members of the organizations.

The proper communication and documentation is done by Business Process Modeling because:

  • Process modeling ensures the provision of common uncomplicated language with simple communication methodology. It provides accurate information with comprehensive decision rules.
  • It is optimal for transferring practical knowledge from one individual to another and better trains the new people in the organization. It all can be done by performing a complete documentation process and following the guidance properly.
  • Reducing the probable danger of losing the staff members of the organization that may result in trailing business process knowledge.
  • Properly start the documentation of business processes.
  • Properly converting the experience of the team members in the documented form.

Improves Consistency and Proper Control

All the successful organizations correctly identify and manage the business processes and maintain consistency throughout the period. The process control and flexibility is the input and a core component that plays a vital role in the success of the business. Process control instruments are of great benefit if they get executed properly.

It is possible by helping with:

  • The proper formalization of the processes that have not been appropriately documented, which have been revolutionized as informal knowledge.
  • Proper execution of the processes in a consistent way because it is quite unrealistic or non-professional to rely on the individuals to remember all the data. Instead, the written documented data provides more authentic information.
  • A proper decision making procedure by excluding the guesswork as the documented business data can provide better information.
  • Fastest solutions to any business concerns in the most elegant way.
  • Gives a proper charge to people involved in the business.
  • Provides proper support to business compliance initiatives, including ISO 9000 and Six Sigma.

Augments Operational Effectiveness

  • Nowadays, in the era of technical advancement, all the business managers try their best to utilize all the resources for the maximum revenue generation optimally. There is no room for ineffectiveness and depletion of resources.
  • The analysis steps of business process modeling, along with complete simulations, helps the managers to make the best use of all the available resources to enhance the effectiveness and efficiencies.
  • It helps in the reduction of process cycle time and identifies the areas that can be improved.
  • It helps in improving the efficiencies of the existing resources and tries the best to provide enough training to do more with limited resources.
  • It helps in providing risk-free experiments and supports providing ideas for further process improvement.
  • It encourages the process of critical thinking ideas so that the latest changes can be implemented for further improvement.
  • Process analysis is useful for optimal utilization of existing resources that can help in enhancing the overall productivity of the organization.

Increases Competitive Advantages

All the advantages mentioned above ultimately result in doubling the competitive edge in the market for all those organizations that have spent enough time in improving the business documentation.

Some of the companies have practiced this business process modeling that not only helped them in generating better ideas but implementing better business models as well. The consistent refinement in the existing business models provides a great room of improvement with a successful process modeling.

A small step towards improvement can have a more significant impact on the overall organization. Those minor refinements are usually of higher value as they can help in giving better competitive advantages over the core opponents available in the market.

Effective strategic planning is the key that makes your ideas unique and better than others. However, the execution can be assured by proper planning and improving overall communication skills. Additionally, the points mentioned earlier explicitly highlight the importance of effective business modeling that cannot be ignored at any cost.

Final Words

With no proper vision, mission, and strategic planning, running the business is more like traveling on the unknown paths that never lead towards the desired destination. Also, this is where most of the businesses suffered and it can become a major cause behind business closures. That is why the implementation of business process modeling is the need for all the latest business concerns.

If you want to run a successful business where everyone works with the proper alignment, then you must think about implementing the practical strategies, tools, and techniques that are essentials for the growth and sustainability of any business.

Your success has a lot to do with the appropriate planning; otherwise, all your efforts and resources can be wasted.

Five Methods for Making Your Startup Business Look More Professional

/in /by

StrategyDriven Online Marketing and Website Development Article |Startup|Five Methods for Making Your Startup Business Look More ProfessionalIn order to lead your startup business to success, it needs to look professional from the very beginning. Professionalism will be the difference between drawing clients in or pushing them away.

Here are five key and simple methods to promote more of a professional image for your business.

1. Create a Business Email Address

If you’re an entrepreneur who is working at home or from a personal location without a team of staff, chances are you’re using a lot of your current personal information to get things moving, which might include your own personal email address.

Even if your personal email address is nondescript, such as just your name, it still reveals what it is: that you’re a startup using personal information.

Instead, form a new business email address as soon as you can, ideally one which includes the business name or something generic such as ‘contact@businessname’. It’s a simple task, but it can make your correspondence seem significantly more professional.

2. Design an Impressive Website

When researching a new business or product, most people turn to an official website first. Your business can be judged within a matter of seconds based on what your website has to offer and how it appears. A professional website could be the difference between a visitor remaining and browsing, or clicking the exit button straight away.

First impressions count, especially for a start up business, so you need the first impression of your website to be an excellent one. If you’re unsure where to start, you can consult with professional web design in Lichfield and have experts help you develop it.  Alternatively, you can outsource your entire website build to a website development company.

3. Get a Separate Business Line

This means either a direct landline for your business, or having your current cell phone number fitted with a second line. This means that you can answer business-related calls professionally with a formal greeting, and keep your personal calls separate with an informal ‘hello’. To answer a business call informally can make you seem unprofessional.

4. Keep on Top of Invoicing and Payments

Correct and prompt invoicing simply screams professionalism. Invoices which are missed or incorrect will make your accounting system seem undependable and shoddy. It can be difficult to keep on top of accounting when you’re a startup, especially if you are doing everything else and finance isn’t your forte, but it’s important to set up a system which works for you. Scheduling and reminders will be a huge help, and you can easily download invoice templates to fill out accordingly.

This can also help you to keep on track with payments owed to you, to ensure that clients don’t try to delay payment or ignore them entirely.

5. Create a Social Media Presence

After checking out your business website, the next port of call for consumers will be your social media profiles. If you don’t have any, this can seem strange within the current online climate.

Even if you create a very basic, professional profile on each social media platform, it still shows that you’re present online and that you care about getting involved with social media. You can always add to and build your profiles later.