Planning on launching your first business? This is an exciting time, and you will be keen to get started, but running a company is no easy task, and there are a lot of areas that need careful consideration. You hear of many businesses going belly up before they’ve even had a chance to succeed, so it is understandable if you have some anxiety about launching your company. Read on for a few tips which should help you to avoid common mistakes, hit the ground running, and build a platform for you to go on and find success with your first business venture.
Carry Out Thorough Market Research
Before you get the ball rolling, you need to make sure that it is a viable business option. It might be an idea that you are interested in, but it needs to be something that is in-demand which you can find out with market research. Look at the current state of the market, who your competitors are, who your target customer is, if there are any gaps in the market, and if there is the potential for success.
Create A Plan & Get Sufficient Funding
You can then use your market research to create a detailed business plan which will detail your understanding of the market, your USP, a business model, and financial projections. The business plan can act as a guideline for your company, but it can also be used to secure funding. You need to make sure that you acquire sufficient funding so that you can get the operation running up to a high standard. There are many options for acquiring funds, including venture capitalists, loans, angel investors, and crowdfunding.
Build A Brand
Your brand is how you differentiate yourself from the competition, and it should always be eye-catching, stylish, and relevant to your industry and target customer. It should also be a reflection of your brand personality and values. This will include a company name, logo, and slogan but also your approach to business. You will then need to register the business and secure a domain name for the website.
Online Presence
Leading on from this, you then need to create a strong online presence as this is vital in today’s day and age. This will include an attractive, functional, and valuable company website and being active across social media channels.
Legal Support
It can be daunting when you start a company for the first time as you will want to make sure that everything is legal and above board. It is a good idea to find a lawyer that specializes in business law, such as charlestonlaw.net. In addition to helping you to get up and running from a legal standpoint, they will also be able to help with any legal difficulties that you encounter at any time.
Starting your first company is an exhilarating experience, and you are sure to enjoy many aspects of the process, but it can also be stressful, and many new entrepreneurs make the same mistakes. The above tips should help you to avoid common pitfalls and provide you with a solid foundation to go on and find success.
https://www.strategydriven.com/wp-content/uploads/paper-3268752_1280-1.jpg8541280StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-07-17 16:00:452019-07-17 14:34:39Advice For Launching Your First Business
Having a business budget is something that most businesses actually ignore. They know there’s a margin to stay close to, but there’s not really a definitive figure that they have to try and meet. So it’s so easy for the budget to get completely out of control, leading to stress and financial turmoil along the way. It’s one of the main reasons why so many businesses go into administration, even those that you think will go on forever. And it all starts with basic budget management that so many businesses seem to be ignoring. So, we’re going to try and help you out, and see if we can get your business budget down. There will no doubt be so many different areas that you need to work on and make some cuts to, and it won’t mean that quality is reduced either. Half of the time, businesses are cautious as to cutting a budget, because it can often mean a knock on effect. But we’re going to avoid all of that, and give you some simple tips that should help you to get that budget down.
Your Office Budget
So there will be multiple different things that you’ll have purchased for your office over the years, that will now be helping to make your business run as a well oiled machine. Technology is the main part in that, then your employees. So with technology, it’s definitely easy for it to drain your budget each month, simply because it’s harder to manage. It might be so much cheaper for you to visit websites such as www.24hourtek.com, and see if you could benefit from using some of their services. By outsourcing your IT management, you’re not only going to save your business money in the long run, but you’ll be doing it by saving some man power. From software updates to server management, there are companies who will do it for you all in the background!
When Marketing Starts To Add Up
Marketing is one of the biggest budgets that a business seems to have, especially as it begins to grow and evolve. There becomes more of a need to market new products and services, and to keep your business in the race. But when a marketing bill starts to add up, it really does add up. So rather than outsourcing everything you do, simply because you don’t understand it, think about keeping some of it inhouse. The more you understand marketing, the easier it will be to actually manage it in house, and even do it more effectively than if it was to be outsourced.
The Areas You Want To Avoid
There are definitely some areas that you want to try and avoid cuts, and that’s with your employee wages and benefits. So many companies don’t get their employees to sign a contract, and they then use this as a way of being able to cut pay. But the last thing your company should want, is a bad reputation based around employees and the management of them, so always avoid this area when making cuts!
https://www.strategydriven.com/wp-content/uploads/business-3239669_1280.jpg7701280StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-07-17 08:00:552019-07-17 13:36:51Get That Business Budget Down
Customer service is the backbone of any successful business. No matter how great your product may be, it will struggle to sell if your customer service skills are lacking. Treating customers the right way is often the difference between getting good reviews and earning brand loyalty, and consumers avoiding your company altogether. The trouble is, no business is perfect, and mistakes are often made. With that in mind, here are six customer service errors to avoid.
Skimping On Staff Training
You can’t expect your customer service staff to deliver quality service if they have no training. It doesn’t matter whether you have three or three hundred staff members, you must train all of them to do their jobs. This training should be an ongoing and dynamic process to allow your staff to work their very best. If you can’t train your employees yourself, then bring in an expert to do so.
Failing To Keep Promises
When you make a promise to a customer, you must make sure that you deliver on it. For those offering a service, you should check that you have what you need to carry it out, whether that be cleaning products or commercial machine tools. Anyone with a retail business must have plenty of stock. If you break a promise you’ve made, it will damage any relationship that you have built.
Hiding Your Contact Information
Live chat, text messages, and social media have completely transformed the relationship between businesses and consumers. With these tools, you can offer customers a much greater convenience than ever before. The trouble is, many companies forget to display their contact details or purposefully hide them. Doing this will frustrate customers and cause suspicion.
Forgetting Self-Service Options
While it’s essential to be available to customers, you must understand that not all of them will want to contact your business. After all, customer service lines are infamous for their high charges and long wait times. Thankfully, you can help customers help themselves. A FAQ page is a common feature on company websites, as are user manuals, buying guides, and videos.
Ignoring All Customer Feedback
When a customer takes the time to leave you feedback, you must make sure that you read and respond to it. Although no entrepreneur likes to read a negative review, this sort of feedback is beneficial. You wouldn’t know where you needed to improve without it. Listen to all you are told and assure customers that you’ll get back to them if you don’t have a solution right away.
Rude Behavior Of Employees
There is no excuse for rude behavior. As frustrating as it can be dealing with a problematic customer, arguing back will only make the situation worse. This is something that all well-trained customer service employees should already know. Customers won’t tolerate rudeness from your staff, so you shouldn’t either. If you believe an employee made a mistake, then tell them that they did.
Without customers, your business has nothing. To treat yours right, make sure that you avoid the mistakes listed above.
https://www.strategydriven.com/wp-content/uploads/dd.png7931200StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-07-16 20:00:152019-07-16 15:38:13Customer Service Mistakes Your Business Might Be Making
Running a business can be incredibly rewarding, and your success can bring a number of positives to your life, not just extra income. Success often comes with challenges, and as your business grows and succeeds you will soon find yourself running out of space in wherever your business began.
If you started in your garden shed or garage, or are working from a small industrial unit, with your business’s success will come a demand for expansion. Operating from premises that are more appropriate to your company’s needs will also increase productivity and efficiency, giving you a firm base to further grow your business.
Getting the property that you want and that your successful company deserves can seem difficult at first, but there are a few avenues every executive should explore when they are looking for a property to satisfy the increasing demands of their successful business. Here are three ways to secure the property you want.
Speak to Your Current Landlord or Developer
If you are already operating from a commercial property, it is always worth talking with your existing landlord or commercial letting agency to see if they have any other, more suitable properties in their portfolio.
They may also be interested in expanding your existing site, working with you to develop their property with you as a long-term tenant.
Arrange Financing to Help the Business Expand
Property is a fantastic asset for a business to have, and investing in property is often seen as a safe place to invest large sums and receive a long-term return. This makes a new property a great place to invest the financial rewards from your success.
If business is booming, arranging finance for a commercial property will be simple and quick to do, especially with sites like https://alternativebridging.co.uk/ that help broker the right financial package to help your business buy an existing property or even build its own tailor-made facility.
Work with Local Authorities and Development Partnerships
A number of councils across the country, and business development corporations, are building commercial business parks, some with large units available if you need manufacturing space.
Business parks like these often come with a number of amenities that only add to your business’s efficiency and productivity. They are often situated close to major road networks and motorways for convenience, often so close that you can see the units offered as you drive by on the motorway.
You may be surprised at the government initiatives that are available in your area to help businesses grow and create more jobs. They will often have schemes available for local businesses to expand, especially if property and an increase in employees is a part of the expansion. Local governments can help small businesses guarantee finance or receive tax breaks for increasing their number of employees.
Taking the next step and expanding your business with a new property is easier than you think, and can increase your productivity and your profits. Why not build on your business’s success with a new building?
https://www.strategydriven.com/wp-content/uploads/architecture-center-commercial-273244.jpg9001200StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-07-16 19:00:322019-07-16 15:10:173 Ways to Secure the Property You Want
Nowadays literally everything has moved to an online platform. People do their grocery shopping on the internet. People pay their gas and electricity bills online. They book their holidays, apply for bank loans, reschedule their post deliveries, buy clothes, send birthday cards and take out insurance policies, all via the World Wide Web.
The need to have an effective and dominant online presence has never been so important. For a business to survive, let alone take great leaps forward, they need to ensure that they are reaching customers via the use of the internet. Any business which does not do so is simply falling further and further behind their competitors with each and every day which passes by.
There a whole host of components which go into securing an effective online presence. Nevertheless, a company’s online debut always begins with a website. A place to showcase what the business is all about, explain what they can offer the potential customer and also offer the goods and services to buy within the click of a mere button.
A lot of people attempt to set up their own website. Some people manage to do so effectively, however, for many, this is not the case. The design of a website is absolutely crucial. A lot of people make the mistake of thinking that it is simply the case of developing a website which is pleasing on the eye and then the job is done. 99.9% of these people sit there wondering why nobody is visiting their website.
The truth is; there is a lot of thought and consideration which goes into a vast number of factors and components which eventually makes up a website. In order for a website to be an effective and successful one it is thus highly important that individuals seek the aid of a web design agency. There are a whole host of reasons as to why this is the case.
A lot of people deter from using a web design agency because they simply see it as more money being spent. Nevertheless, the awards will certainly be reaped in the end when more people are visiting the company’s website and more customers are taking advantage of the goods or services on offer. Quite frankly, the money spent will be made back in no time.
Furthermore, time is of the essence. Every day wasted without an online presence is another day which is lost to rival businesses. Designing a website on your own takes an extremely long period of time. Taking advantage of the services professionals have to offer is much quicker, convenient and effective.
Finally, and most importantly, web design agencies have invaluable knowledge. There is a lot more to creating and designing a website then meets the eye. The following is just a taster of what needs to be considered; how user friendly the website is, what colour scheme is most effective for the type of business in question, how to use search engine optimization to climb up the search engine pages and how to structure the site in the most convenient way.
Web design is highly important to any company and thus it is vital to put it in professional hands.
https://www.strategydriven.com/wp-content/uploads/web.jpg8261280StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-07-16 17:00:182019-07-16 14:44:41Take The Weight Off Your Shoulders With A Web Design Agency
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Business Programs
Advice For Launching Your First Business
/in Starting Your Business/by StrategyDrivenCarry Out Thorough Market Research
Before you get the ball rolling, you need to make sure that it is a viable business option. It might be an idea that you are interested in, but it needs to be something that is in-demand which you can find out with market research. Look at the current state of the market, who your competitors are, who your target customer is, if there are any gaps in the market, and if there is the potential for success.
Create A Plan & Get Sufficient Funding
You can then use your market research to create a detailed business plan which will detail your understanding of the market, your USP, a business model, and financial projections. The business plan can act as a guideline for your company, but it can also be used to secure funding. You need to make sure that you acquire sufficient funding so that you can get the operation running up to a high standard. There are many options for acquiring funds, including venture capitalists, loans, angel investors, and crowdfunding.
Build A Brand
Your brand is how you differentiate yourself from the competition, and it should always be eye-catching, stylish, and relevant to your industry and target customer. It should also be a reflection of your brand personality and values. This will include a company name, logo, and slogan but also your approach to business. You will then need to register the business and secure a domain name for the website.
Online Presence
Leading on from this, you then need to create a strong online presence as this is vital in today’s day and age. This will include an attractive, functional, and valuable company website and being active across social media channels.
Legal Support
It can be daunting when you start a company for the first time as you will want to make sure that everything is legal and above board. It is a good idea to find a lawyer that specializes in business law, such as charlestonlaw.net. In addition to helping you to get up and running from a legal standpoint, they will also be able to help with any legal difficulties that you encounter at any time.
Starting your first company is an exhilarating experience, and you are sure to enjoy many aspects of the process, but it can also be stressful, and many new entrepreneurs make the same mistakes. The above tips should help you to avoid common pitfalls and provide you with a solid foundation to go on and find success.
Get That Business Budget Down
/in Budget Management/by StrategyDrivenYour Office Budget
So there will be multiple different things that you’ll have purchased for your office over the years, that will now be helping to make your business run as a well oiled machine. Technology is the main part in that, then your employees. So with technology, it’s definitely easy for it to drain your budget each month, simply because it’s harder to manage. It might be so much cheaper for you to visit websites such as www.24hourtek.com, and see if you could benefit from using some of their services. By outsourcing your IT management, you’re not only going to save your business money in the long run, but you’ll be doing it by saving some man power. From software updates to server management, there are companies who will do it for you all in the background!
When Marketing Starts To Add Up
Marketing is one of the biggest budgets that a business seems to have, especially as it begins to grow and evolve. There becomes more of a need to market new products and services, and to keep your business in the race. But when a marketing bill starts to add up, it really does add up. So rather than outsourcing everything you do, simply because you don’t understand it, think about keeping some of it inhouse. The more you understand marketing, the easier it will be to actually manage it in house, and even do it more effectively than if it was to be outsourced.
The Areas You Want To Avoid
There are definitely some areas that you want to try and avoid cuts, and that’s with your employee wages and benefits. So many companies don’t get their employees to sign a contract, and they then use this as a way of being able to cut pay. But the last thing your company should want, is a bad reputation based around employees and the management of them, so always avoid this area when making cuts!
Customer Service Mistakes Your Business Might Be Making
/in Customer Relationship Management/by StrategyDrivenSkimping On Staff Training
You can’t expect your customer service staff to deliver quality service if they have no training. It doesn’t matter whether you have three or three hundred staff members, you must train all of them to do their jobs. This training should be an ongoing and dynamic process to allow your staff to work their very best. If you can’t train your employees yourself, then bring in an expert to do so.
Failing To Keep Promises
When you make a promise to a customer, you must make sure that you deliver on it. For those offering a service, you should check that you have what you need to carry it out, whether that be cleaning products or commercial machine tools. Anyone with a retail business must have plenty of stock. If you break a promise you’ve made, it will damage any relationship that you have built.
Hiding Your Contact Information
Live chat, text messages, and social media have completely transformed the relationship between businesses and consumers. With these tools, you can offer customers a much greater convenience than ever before. The trouble is, many companies forget to display their contact details or purposefully hide them. Doing this will frustrate customers and cause suspicion.
While it’s essential to be available to customers, you must understand that not all of them will want to contact your business. After all, customer service lines are infamous for their high charges and long wait times. Thankfully, you can help customers help themselves. A FAQ page is a common feature on company websites, as are user manuals, buying guides, and videos.
Ignoring All Customer Feedback
When a customer takes the time to leave you feedback, you must make sure that you read and respond to it. Although no entrepreneur likes to read a negative review, this sort of feedback is beneficial. You wouldn’t know where you needed to improve without it. Listen to all you are told and assure customers that you’ll get back to them if you don’t have a solution right away.
There is no excuse for rude behavior. As frustrating as it can be dealing with a problematic customer, arguing back will only make the situation worse. This is something that all well-trained customer service employees should already know. Customers won’t tolerate rudeness from your staff, so you shouldn’t either. If you believe an employee made a mistake, then tell them that they did.
Without customers, your business has nothing. To treat yours right, make sure that you avoid the mistakes listed above.
3 Ways to Secure the Property You Want
/in Starting Your Business/by StrategyDrivenIf you started in your garden shed or garage, or are working from a small industrial unit, with your business’s success will come a demand for expansion. Operating from premises that are more appropriate to your company’s needs will also increase productivity and efficiency, giving you a firm base to further grow your business.
Getting the property that you want and that your successful company deserves can seem difficult at first, but there are a few avenues every executive should explore when they are looking for a property to satisfy the increasing demands of their successful business. Here are three ways to secure the property you want.
Speak to Your Current Landlord or Developer
If you are already operating from a commercial property, it is always worth talking with your existing landlord or commercial letting agency to see if they have any other, more suitable properties in their portfolio.
They may also be interested in expanding your existing site, working with you to develop their property with you as a long-term tenant.
Arrange Financing to Help the Business Expand
Property is a fantastic asset for a business to have, and investing in property is often seen as a safe place to invest large sums and receive a long-term return. This makes a new property a great place to invest the financial rewards from your success.
If business is booming, arranging finance for a commercial property will be simple and quick to do, especially with sites like https://alternativebridging.co.uk/ that help broker the right financial package to help your business buy an existing property or even build its own tailor-made facility.
Work with Local Authorities and Development Partnerships
A number of councils across the country, and business development corporations, are building commercial business parks, some with large units available if you need manufacturing space.
Business parks like these often come with a number of amenities that only add to your business’s efficiency and productivity. They are often situated close to major road networks and motorways for convenience, often so close that you can see the units offered as you drive by on the motorway.
You may be surprised at the government initiatives that are available in your area to help businesses grow and create more jobs. They will often have schemes available for local businesses to expand, especially if property and an increase in employees is a part of the expansion. Local governments can help small businesses guarantee finance or receive tax breaks for increasing their number of employees.
Taking the next step and expanding your business with a new property is easier than you think, and can increase your productivity and your profits. Why not build on your business’s success with a new building?
Take The Weight Off Your Shoulders With A Web Design Agency
/in Online Marketing and Website Development/by StrategyDrivenThe need to have an effective and dominant online presence has never been so important. For a business to survive, let alone take great leaps forward, they need to ensure that they are reaching customers via the use of the internet. Any business which does not do so is simply falling further and further behind their competitors with each and every day which passes by.
There a whole host of components which go into securing an effective online presence. Nevertheless, a company’s online debut always begins with a website. A place to showcase what the business is all about, explain what they can offer the potential customer and also offer the goods and services to buy within the click of a mere button.
A lot of people attempt to set up their own website. Some people manage to do so effectively, however, for many, this is not the case. The design of a website is absolutely crucial. A lot of people make the mistake of thinking that it is simply the case of developing a website which is pleasing on the eye and then the job is done. 99.9% of these people sit there wondering why nobody is visiting their website.
The truth is; there is a lot of thought and consideration which goes into a vast number of factors and components which eventually makes up a website. In order for a website to be an effective and successful one it is thus highly important that individuals seek the aid of a web design agency. There are a whole host of reasons as to why this is the case.
A lot of people deter from using a web design agency because they simply see it as more money being spent. Nevertheless, the awards will certainly be reaped in the end when more people are visiting the company’s website and more customers are taking advantage of the goods or services on offer. Quite frankly, the money spent will be made back in no time.
Furthermore, time is of the essence. Every day wasted without an online presence is another day which is lost to rival businesses. Designing a website on your own takes an extremely long period of time. Taking advantage of the services professionals have to offer is much quicker, convenient and effective.
Finally, and most importantly, web design agencies have invaluable knowledge. There is a lot more to creating and designing a website then meets the eye. The following is just a taster of what needs to be considered; how user friendly the website is, what colour scheme is most effective for the type of business in question, how to use search engine optimization to climb up the search engine pages and how to structure the site in the most convenient way.
Web design is highly important to any company and thus it is vital to put it in professional hands.