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How To Succeed As A New Business Owner

StrategyDriven Starting Your Business Article |New Business Owner|How To Succeed As A New Business OwnerBeing a new business owner is an exciting time in your life but may also be cause for some uncertainty. There’s a lot to learn and do as you embark on this journey and maneuver your way around as an entrepreneur.

Know that there will be challenges along the way but that if you work hard and keep a positive attitude you’re likely to go far with your business. The upside is that if you love what you’re doing then it might not even feel like work to you. Take one day at a time and remember to always track your progress so you can monitor how you’re performing as you go.

Choose the Right Office Space

One way to succeed as a new business owner is to spend time choosing the right office space. Discover more information around working with a bank vs. mortgage broker at www.mortgageconnection.ca so you can better understand which option is best for you. You want a space that’s convenient for you and your customers and will be a nice and comfortable place to meet with clients.

Find A Mentor

In addition, you can better succeed as a new business owner by finding and working with a mentor. Choose someone who’s been in your shoes before and has built a company from the ground up. Meet with them often to pick their brain and understand more clearly what you can be doing to improve your management style and become a more successful leader and boss.

Focus on Your Customers

It’s very important that customer service always comes first at your workplace if you want to be successful. Get in the habit of focusing on your customers and their needs and wants above all else. Train your staff to respond to questions or concerns in a timely and professional manner as well. The better job you do at this the more positive reviews you’ll receive and more business you’ll bring in.

Expand Your Marketing Efforts

The reality is that there’s a lot of competition out there and consumers are being pulled in many directions at once. Therefore, commit to expanding your marketing efforts and investing in getting your name out to your target audience so you can grow your company. For example:

  • Engage on social media
  • Run online advertising campaigns
  • Buy advertisement space in print
  • Produce commercials
  • Create videos

This will give you a good start and help you to drive more attention to your business.

Take Care of Yourself

Your company will succeed when you’re diligent about taking care of yourself. This way you’ll have more natural energy to carry you through the day and will be able to concentrate and focus in the office better. Make self-care a priority and be good about eating healthy, exercising and getting plenty of rest and sleep. You’ll find you reach your goals at a quicker rate when you attend to these matters and don’t let your own health slip through the cracks.

How To Run A More Successful Business

StrategyDriven Managing Your Business Article|Running Your Own Business | How To Run A More Successful BusinessIf you’re a business owner, then it’s likely you’re always trying to think of ways for how you can be and do better in your role. The following advice is going to help you focus on the right elements so you can run a more successful business.

It’s going to take hard work and dedication, but with time you’ll start to see the results you desire. Sitting back waiting for change to occur or hoping that your situation improves isn’t a good plan of action. You’ll need to be proactive and ready to tackle the most important initiatives if you want to thrive in the future.

Wake up Early

It’s a wise idea to wake up early and seize the day when you’re in charge of running a business. This way you’re giving yourself more time in your day for personal matters as well as work obligations. For instance, maybe you decide to get up early so you can hit the gym each morning and reduce your stress before entering the office. On the other hand, maybe you find you think best in the early morning hours and want to do some problem solving and complete a few tasks at home before you go to work. If you’re worried about getting enough sleep, then consider going to bed at a decent hour so you can make sure you’re well-rested the following day.

Manage Your Finances Closely

You can also run a more successful business when you’re consistent about keeping detailed financial records. You’ll want to manage your money and assets closely so you have correct data and can use this information to become more profitable. Be glad to know there are tips and tricks you can use that are going to help you succeed in this area. Go online to check it out so you can adjust your processes accordingly and ultimately make more money. You not only want to keep accurate records for yourself and to run your business but also for when tax time comes around and you need to report your finances to others.

Hire Wisely

Your business will be a lot more successful and run smoother when you put in the extra effort to hire wisely. For instance, take time to write out job descriptions, interview candidates and determine who is going to be the best fit for your company culture. With the right people in place, you’ll be able to more quickly achieve your goals and move your business forward in the right direction. If your objective is to be more successful, you want people on your team who are willing to collaborate with others and offer up innovative and creative ideas.

Fix What’s Broken

It’s a wise idea to be honest with yourself about what’s happening at your company and to address problems right away. Fixing what’s broken is a great way to eliminate whatever isn’t working for you currently so you can implement new solutions that will have a positive impact on your business. Designate time to set goals and track your progress so you can better monitor where the gaps exist. The sooner you can pinpoint any mishaps or roadblocks the easier it’s going to be to get yourself on a path that will allow you to outsmart and surpass your competitors. Ask for feedback from coworkers and customers regularly so you can get a good idea of what’s working and where you can be improving.

Take Care of Yourself

You’ll be able to run a more successful business when you commit to taking care of yourself. This includes:

  • Eating right
  • Exercising frequently
  • Getting enough sleep
  • Managing your stress
  • Practicing work-life balance
  • Setting boundaries with others

You’ll find you have a lot more natural energy and are in a better mood when you put your needs and self-care at the top of your to-do list. It’s going to be very difficult to be a good boss and business owner if you’re feeling worn down and exhausted all the time. Commit to being kind to your mind and body, and you’ll find that work won’t feel like such a difficult task each day.

Be More Organized

You’ll be doing yourself a lot of favors if you’re always organized and know what’s going on in your personal life and with your business affairs. Make sure you know where your important files and belongings are located at all times and try to keep a clean and tidy workspace. In addition, you want to have your customer’s information in a secure place and readily available and organized should you need to refer to it. It’s important to be punctual as well and show up to meetings and appointments prepared for the upcoming discussion.

Provide Excellent Customer Service

Your business is going to be a lot more successful when you consistently put your customers first. Commit to providing excellent customer service around the clock, and you’ll notice that you’re able to win over more clients and you have fewer complaints to manage. Be sure to train your employees, so they know how to handle the tough questions and are professional and courteous in every interaction with customers. Put policies and procedures in place that sets expectations for those who choose to do business with you, so there aren’t any gray areas. You’ll never regret putting more time and energy into making sure your clients are satisfied and always taken care of.

Conclusion

Anyone can start a business, but not everyone can run a booming operation. Use these tips to help you advance your company so that you can reach new levels of success. Pay attention to what begins to have the most significant and positive impact on your business once you start making changes at your workplace so you can continue to do more of what’s working well for you. Accept that there will be challenges and setbacks along the way but that if you keep pushing forward and put the right objectives in place, you’ll ultimately achieve success and be unstoppable.

4 Proven Strategies to Boost Income from Amazon FBA

StrategyDriven Entrepreneurship Articles | Entrepreneur | 4 Proven Strategies to Boost Income from Amazon FBAAmazon FBA is an easy option for entrepreneurs who want to try their hand at e-commerce. You get to enjoy the benefits of running your own business while taking advantage of the conglomerate’s massive network and diverse customer base. Plus, Amazon also houses your stocks for you, so you don’t need to worry about renting a warehouse.

If you’re looking for ways to boost the income of your Amazon FBA business, here are some strategies you must consider:

1. Partner with a Reliable Forwarder

While Amazon may be responsible for storing your products on your behalf, you still need to send them to the retailer’s warehouses. This is where a trustworthy Amazon FBA forwarder and prep center comes in. If you bought goods overseas, a partner like FBABEE could streamline the sourcing and shipping process for you, including picking up the inventory, preparing and labeling the items, and shipping them directly to Amazon.

2. Focus on Fast-Moving Products

After you’ve created a smooth channel for your products to be sent to Amazon fulfillment centers, you should study your current sales and identify which products are popular with consumers. Concentrate on those particular items and eliminate the others from your catalogs. This way, you prevent the e-commerce giant from penalizing you with fees because of long-term storage.

These are the factors that determine highly sellable products:

  • Cost – Your initial capital per item should only be 25% to 35% of your target selling price. For a product that’s $50, find a supplier who can give it to you for $17.50 or less.
  • Price – Consumers are more likely to buy from you if your products are in the $10 to $50 price range.
  • Weight – The goods should weigh a total of around 2 to 3 lbs with the box and packaging so that you can save on shipping costs.
  • Strength – Your products should be sturdy enough to endure the delivery process without damage.
  • Consumable – Focus on selling products that your customers will use up or need to replace. These items should also be used throughout the year for better profitability.
  • Quality – Be sure to sell the items with the best quality so you have the upper hand in the marketplace.

Amazon provides its sellers with valuable tools and information such as the Best Sellers Rank (BSR) and Customer Reviews to identify which products consumers are buying. Do your research and compare prices with stores who sell the same products as you to check if you can improve on the cost of your merchandise to boost sales.

3. Regularly Review Amazon Fees

Examine your bill from Amazon regularly to check if there are any inaccurate charges by the site. There are different shipping fees for various package sizes, but there are times when an incorrect measurement can prompt Amazon to double your fees or provide you with variable shipping costs.

One way to solve this is to contact Amazon and have them remeasure the products. You can also ask for reimbursement for the error because you paid them extra for that particular mistake. Moreover, regularly check the size, weight, and description of your stock keeping units (SKUs) to prevent erroneous charges and increase the profit margin of your Internet-based business.

StrategyDriven Entrepreneurship Articles | Entrepreneur | 4 Proven Strategies to Boost Income from Amazon FBA4. Check Your Product Titles and Descriptions

Optimizing your product titles and descriptions for Amazon’s search engine will vastly improve your FBA business’ income. Aside from having a competitive price and improving your seller rating, you need to place relevant keywords on your product titles and descriptions so that your items come up first when a customer searches for it.

For example, if you’re selling sunglasses, it’s not enough to put your brand and the word “sunglasses” as a title. You need to think like your shoppers and determine the keywords that they will use when searching for sunglasses such as the color, shape, and lens type.

Some guidelines on how to get your title to rank well on Amazon:

  • Be as specific as possible within 100 to 200 characters for your product title.
  • Make the most of pipes (|) and dashes (-) to improve readability.
  • Place primary keywords at the beginning of the title.
  • Add compelling secondary keywords.
  • Highlight primary and secondary functions through keywords.

Conclusion

Amazon’s FBA business model provides sellers with cost-effective shipping rates as well as excellent support from their team of customer service representatives. This is the perfect setup for individuals who want to start and manage their business in the comfort of their homes. With the right strategies, you can ship your products to Amazon and send them to customers without leaving your personal space.

The Secret to Success: It’s Not a Secret

StrategyDriven Practices for Professionals Article | Secret to Success | The Secret to Success: It’s Not a SecretVisualize your goals and then craft a plan for achieving them

Many people wonder about the secret to success. Successful people are viewed as special, possessing unique talents, vision, and unflagging commitment.

The reality is there is no secret. Success is not limited to a few individuals, but is within the grasp of everyone. All it takes is an honest assessment of your abilities and creating your own definition of success. This doesn’t have to include owning a private jet or a villa in France. You just need to figure out the things in life that will make you happy, and create a roadmap for achieving them.

During my career as a successful commodities broker, I learned a key lesson about success: self-management is more important than talent. The most successful people aren’t necessarily the ones with the most talent, but the ones who believe in themselves and are determined to persevere in the face of adversity.

High achievers are often regarded with awe and respect. They are seen as extraordinary beings because they accomplish so much. Yet there are consistencies in their behaviors that anyone can follow. High achievers:

  • Identify goals
  • Study how to make them happen
  • Plans steps to achieve them
  • Execute

Whether they are called ambitions, purposes or aims, goals can help you live a meaningful, productive life. There’s a difference between goals and dreams. You can dream about winning the lottery, but if you make that your life’s ambition you’re going to end up sorely disappointed, unless you’re incredibly lucky.

Goals are dreams that can be realistically attained. Don’t get me wrong. I have nothing against material rewards. But a desire to be wealthy without a clear path to attaining it is a recipe for frustration.

Businessman and author Philip L. Stephen aptly describes the basic goals of life:

  • Family: what you will do for them
  • Professional: what you aim to achieve
  • Financial: planning for the present and the future
  • Social: the groups you belong to
  • Health: taking care of yourself
  • Intellectual: continuing to learn
  • Recreational: taking the time to relax

A powerful tool in goal setting is visualization. If you can see where you are going, it’s easier to anticipate the complications that will inevitably arise. That gives you an advantage because you’re not just concentrating on achieving an outcome, you’re also figuring out ahead of time how to avoid or face difficulties that will arise.

A frequent stumbling block in developing and sticking to a plan is negative self-image resulting from childhood experiences. You can rid yourself of negative thoughts by telling yourself that you are a unique individual with unique abilities. You can be what you want to be – if you accept that you can. As Henry Ford said, “Whether you think you can or you think you can’t, you’re right.”

Be bold! Don’t be afraid to reset your goals as the need arises. New objectives will form, and they may very well be the means to all kinds of rewards.

To summarize:

  • Define your goals
  • Accentuate the positive, minimize the negative
  • Adopt good habits that center on self-motivation
  • Visualize what you want to accomplish
  • Select goals based on your own needs, not on others’ needs

In closing, remember that the only chains and shackles that hold any of us back from any goal in life are those that we ourselves forge in the fires of doubt and hammer out on the anvils of lack of belief.


About the Author

StrategyDriven Practices for Professionals Article | Secret to Success | The Secret to Success: It’s Not a SecretRaymond Houser is the author of THE WINNING ADVANTAGE: Tap Into Your Richest Resources. He started earning money by selling pecans when he was six years-old. By the time he was 12, he had a paper route in addition to working in grocery stores and a bowling alley. When his dream of becoming a major league baseball catcher ended, he knew he had to focus on other goals. And that is what he did, challenging himself to overcome shyness and knock on doors until he became the highest-grossing divisional book salesman of his time for the Southwestern Company. After that he started, developed, and eventually sold, his own book company. His career had its ups and downs, including a bankruptcy. Yet, despite setbacks, he never gave up. Starting a new career in his 40s, he was hired at Merrill Lynch where he became a successful money manager who earned accolades — and substantial income for himself and his clients — through trust in himself and innovation. In time, he started, developed, and eventually sold, another company. Today he is a sought-after speaker who offers his experience and perspective on managing a career and, most of all, a life. He divides his time between Dallas and San Diego. For more information please visit, www.thewinningadvantagebook.com

How To Succeed As An Entrepreneur: A Guide

StrategyDriven Entrepreneurship ArticleOwning your own business is a huge accomplishment and one that you should be very proud of. However, it’s important to realize that your journey is just beginning and now it’s up to you to navigate the business landscape properly so you can become a successful and thriving entrepreneur.

Learn from your past mistakes and also be prepared to take on experiences that may be novel to you. You can have a great business idea, product or strategy but you’ll likely struggle to make it big unless you’re prepared to put forth an extra effort and focus on a few important initiatives. Use the following ideas to help you find future success so you can have a more enjoyable experience growing your business.

Follow A Business Plan

It’s in your best interest to have a roadmap in place for where you’re heading now and in the future. Document and follow a business plan that specifies your goals and details about how you’re going to go about achieving each one. You’ll better succeed as an entrepreneur when you’re focused on a couple of critical matters instead of trying to spread yourself too thin. Take your time with this project and put a lot of thought behind it so you can make your job easier going forward. Remain flexible and be willing to adjust as you go if you find yourself needing to adapt to a changing industry or business environment. Without one, you’ll likely quickly feel lost and won’t be able to guide or lead others in a clear and concise manner.

Make Wise Financial Decisions

You’ll have a better chance of succeeding as an entrepreneur when you make wise financial decisions. This includes both on a professional and personal level so that you’re consistent and well-rounded in this area. One idea is to subscribe to a related newsletter and follow topics such as money morning so you can gather tips and advice from the experts. Take notes about what you find the most helpful and start coming up with strategies you want to follow so you can be more secure and stable financially. You’ll not only want to know how best to invest your money, but also how to create and follow budgets and keep your business in the green even when money is tight.

Build A Network of Contacts & Supporters

Although you’re an entrepreneur, it doesn’t mean you have to tackle this endeavor all by yourself or feel like you’re alone in this journey. You’ll be more successful in your role when you put your time and energy into building a network of contacts and supporters. Use these people to bounce ideas off of and as a crutch when you’re feeling lost or don’t know where to turn. Put yourself out there constantly by attending networking events and conferences and getting more involved in your community. Follow up with the individuals who you meet so you can reintroduce yourself and stay in touch in the future. It’s also a wise idea to find a business mentor who’s been in your position before and can assist you and offer up sound advice when you’re experiencing any setbacks or struggles.

Encourage Team Culture

As your business grows and expands, you’re going to need to hire people to help you run your company and meet your goals. What will allow you to succeed in your position as a business owner is to hire talented employees who will get the job done right, offer up new ideas and listen. You’ll want to think about how you can encourage a team culture where people are working together to solve problems and get ahead as a group. It’ll be a much more pleasant office environment for everyone when staff members are collaborating and you focus on breaking down silos between departments. Hold regular team and brainstorming meetings to help you accomplish this objective and make sure everyone is on the same page.

Work Hard

The reality is that although being an entrepreneur sounds fun and appealing, it’s a tough job with a lot of responsibility. The whole future of the company depends on your ability to move the needle forward in a positive direction and create a business that’s prepared to go places and experience new heights of success. You’re not going to be able to get the job done sitting back and waiting for the people around you to pick up your slack. You need to be a good leader and have policies and procedures in place for how your employees can get their work done the most efficiently. You also have to be willing to take care of yourself so that you’re healthy enough to run a business and work long hours when necessary.

Focus on Time Management

Another way to succeed as an entrepreneur is to focus on having solid time management skills. You’re going to be pulled in a lot of different directions as a business owner and will need to know how and when to say no to others. Keep a calendar, hire an assistant and create to-do lists so you can get what’s most important done first each day. Remember that your time, especially as a business owner, is precious and you don’t have a lot of it to waste. Set your priorities straight and have strategies in place that work for you and allow you to get through your tasks in a timely manner. Also, learn how to delegate and ask your employees to pitch in and help you when it makes sense. You’ll feel a lot more in control of your business when you’re in control of the clock and your schedule.

Being an entrepreneur isn’t an easy job and will take a lot of extra effort on your part if you want it to be a rewarding experience for you. Use these ideas to help you succeed in your role and build a company that’s going to be around for the long-term. Enjoy the process of watching yourself grow and mature into a reputable business owner as time goes on.