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Essential Tips For First Time Business Owners

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StrategyDriven Entrepreneurship Article | Essential Tips For First Time Business OwnersRunning a successful business can be one of the most rewarding endeavors an individual can pursue, both financially but also due to the satisfaction it can bring. With that being said, running a business, be that a small start-up, mid-sized enterprise, or a global brand, managing your business is not easy, especially if you’ve never been in that position before.

Many exciting and budding entrepreneurs see their first-time businesses have to fold year after year, all because they may not have been prepared in some way and, due to that, mismanaged the business. If you find yourself in charge of a business for the first time, here are a few vital tips to ensure that you can excel in the role and grow your business too.

Get An Education

One of the best ways to ensure that you’re prepared for all the different responsibilities involved with running a business is to get an education and understanding of everything you’re expected to do. One of the best ways to do this is through a business degree, as this will give you solid foundations in all departments, such as business analytics, finances, team management, and more.

However, this option might not suit everyone, especially those who have too many responsibilities that they can’t give up to get an education. If that’s the case, the next best thing is to learn as much as you can through online learning and tutorials (LinkedIn Learning and Skillshare is fantastic for this). You can also attend seminars, both in-person and online, and read books from industry experts.


Make Sure Your Business Is Efficient

Time means money within business. This means that if you can perform tasks quickly at a good standard, your business will serve more customers and generate more income. One of the best ways to ensure that your business is prepared and efficient is to invest in automation software. With this type of software, you’ll be able to perform certain tasks quickly, giving you more time to work on other things. Automation software can help with financial management, organize calendars, and so much more. Click here to find out some of the best business software you need.

However, with this emphasis on software and digital solutions, you need to make sure that your IT and computer hardware is up to scratch. Furthermore, as you will be utilizing digital platforms, you need to ensure that you are protected and that your hardware and software are well maintained. This can be hard for a new business to do in-house, which is why it’s a good idea to invest in the small business IT support London companies like Computer Being offer.

Listen From Others

It can be easy, as a new business owner, to dismiss the naysayers and doubters. However, it’s actually a good idea to listen to these concerns if they’re coming from people more experienced than yourself. Understanding why people might not support your business proposal can help you tackle the problem head-on and ensure that your business starts with a more solid foundation.

Furthermore, when you hire your first team members, be sure to listen to them, including their advice, concerns, and ideas. These people will likely grow with you and the business, so it’s a good idea to get their insight, as it can be helpful. There’s nothing wrong with being confident in your abilities. However, you should never dismiss and ignore valid criticism and concerns.

With these tips, you should be more comfortable with the prospect of owning a business and should be in a better position to be successful within it. However, these tips are not the be-all and end-all, and it’s a good habit to continue learning and developing as a business leader, as this will drive you forward and be more successful.

Where Do You Need To Spend Money In Business?

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StrategyDriven Managing Your Finances Article | Where Do You Need To Spend Money In Business?No matter how good an idea you might have is or how excited you are to be your own boss, the truth is (and it’s a truth all entrepreneurs must remember) it’s hard to start a business. Over fifty percent of new businesses fail within the first five years, which may not be a pleasant thing to consider but it is a crucial one. It means you have to get things right from the beginning, if you’re to stand any chance of making it. Part of your success will be due to smart planning and investment – whatever money you have to start your business with, even if it isn’t much, must be used properly. Here are some ideas for the most important areas of your business to invest in.

Marketing

If you ignore marketing, no one will know your company exists. This is why it’s essential not to cut corners or compromise on this aspect of your company growth – don’t try to do it yourself or hire a friend who is competent enough but not outstanding and who doesn’t really understand how digital advertising in 2021 works. What you must keep in mind is that effective marketing — marketing that succeeds – may not be cheap, but if you invest in quality, you’ll soon be making much more than you spent for it.

It is critical to understand your target audience and tailor your advertising and marketing to them, which means you and the company you choose to manage your marketing for you will need to do significant research ahead of time. If you do this correctly, your marketing money will go a lot further.

Security

If you run a business, your website is likely to produce a significant part of your revenue. Even if you don’t sell goods directly via your site, it’s still the main way for potential consumers to contact you and find out more about you, so it must be safe and secure.

Those who want to use your website must be confident that their information is safe (particularly if they give you payment details). Keeping your website secure is something that every business must invest in. If you don’t invest in this area of your business, you could be hacked and cybercrime is expensive to put right. It might even cost you your business.

Technology

Technology is essential in business, and the need to be at the forefront of any new trends is becoming more and more crucial year after year. If you want to get ahead of the competition, one way to do so is to invest in cutting-edge technology. This will improve your reputation by showing that you are on top of things, and it will also help your customers and clients by making it much easier for them to use your services.

Instant messaging platforms, content management systems, automation, and even artificial intelligence can all be useful in your company’s day-to-day operations. However, you must be careful not to overspend, otherwise you may end up squandering money on technology that will never work for you. If you are thinking about automating your business you should look into what is RPA? Also known as robotic process automation, this technology can really help to boost your business and help with the running of your daily tasks.

The Essential Guide to Buying Equipment For Your Start-Up

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StrategyDriven Starting Your Business Article | The Essential Guide to Buying Equipment For Your Start-UpWhen you are starting up a business there are so many different things that you have to think about, from finding staff to winning customers. However, in order to start your operations, you will need to buy the right equipment.

Purchasing equipment for your start-up can represent a large investment, so it is vital you learn what to buy and how to get the best deals.

Look For Scalable Technological Solutions

When you are buying technological solutions for your business you should look for equipment that will grow with your company. Choosing solutions that will grow with will help you to ensure that you are able to get the very best value for money.

Finding scalable technical solutions will not only help you to save money but will increase efficiency, too. There is a certain amount of teething troubles that comes with introducing new equipment, as your staff learn how to use a new system. Finding a scalable technological solution will eliminate the time that is lost as staff become familiar with a new interface.

Buy Used When You Can

Buying used equipment is a great way to cut back on overall costs for your start-up. It is not difficult to find high-quality office equipment, in fact, you can buy used equipment from companies that have gone out of business.

It is not only printers and office chairs that you should buy used but big items, too. For example, if you are buying a company car, then you should look to buy a used car to cut back on upfront costs. As you can see from used cars Cardiff, finding used cars is actually much easier than you might think.

Don’t Skimp on Security

When you are purchasing equipment for your start-up it is vital that you don’t neglect security measures. From anti-virus software to insurance, it is hugely important that you look after the investments that you are making. Securing your technology and your workplace will help you to ensure that your business, your customers and your staff are protected at all times.

Think of Longevity

When you are buying equipment for your start-up it can be easy to focus on getting the very best deal, after all, you are likely to only have a limited amount of resources. While of course, you will want to get the very best deal, when it comes to return on investment, longevity counts. You should look at reviews and aim to choose items that are built to last.

Remember Your Long-Term Aims

When you are purchasing any type of equipment for your start-up you will need to think clearly about what your long-term aims are. It is vital that you only purchase equipment that you can see that will help you to achieve your long-term business aims. You should have a clear idea of the purpose of any new equipment you purchase for your start-up as well as the expected return on investment.

The Future Of Your Business Is Now

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StrategyDriven Entrepreneurship Article | The Future Of Your Business Is Now

One of the hardest things any business owner is faced with is the task of keeping their business up to date with all the latest technologies. This doesn’t mean you need to have office chairs that have in-built keyboards and fridges integrated into the armrests or anything. But it does mean you need to be abreast of what technology will help your business boom. It may be that your business isn’t interested in having the latest tablet that has all the design features a graphic artist could possibly want because you own a bakery, or an old school sweetie shop. But there is still software that will make your life easier, and your customer’s experience better.

As such, we have compiled a list of tech that will bring your company up to speed with what is on offer. We will bring your business into the 21st Century.

Accepting Payment

Cash is pretty much a thing of the past. Barely anyone carries cash anymore and certainly not Millenials. It’s all about the card these days. Everyone puts everything on cards. May be it is to do with ease, maybe they don’t see it as departing with cash in the same way handing over notes. Whatever the case, your business needs a credit card reader. In addition to this, it’s all about contactless payments too. The tap and go. The ease of it all. Something that has seen a rise in payments through people smartphones.

Slick Websites

No business can hope to succeed without a slick website. A website is the first impression people will get from your business, whatever that is, because once they hear your name that’s the first thing they’ll do. They’ll check out your website. They may even just stumble across it. As such, you need something that is going to be representative of your brand and provide them with all the information they could possibly want from you. It doesn’t matter if you are a plumber, copywriter, IT support company or into digital learning; a website is your best chance at being found and hired.

Blogging

A website is good, but without a decent SEO strategy you may not get discovered. That’s where blogging comes in. Blogging is the most effective way of improving your hopes of getting found on search engines. The best way to do this is to add links to your other blog posts as well as external sources, while always considering what keywords search engines may pick up on. Another great tactic is to link your blog to your social media pages as well, so that every time you post, your social media gets updated too. This will also improve your chances of being shared online, thus bringing in more viewers. The most epic thing that could happen on this front is for something of yours to go viral. How incredible would it be to wake up one day and see that 100,000 people ha liked a blog post that links back to your website and thus your business. Amazing.

Can You Start A Baking Business At Home?

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StrategyDriven Starting Your Business Article | start a home business

Many of us may think of baking as a relaxing and somewhat challenging past time to enjoy at the weekends. But many people have managed to turn this hobby into a real career, and they will work every day creating sweet treats and fun desserts for people all over the local area.

But how can you start a baking business from your own home? The biggest question you might have is how will you be successful without restaurant quality ovens and fridges – but you don’t need these things to start creating and selling your treats.

Today we are going to take a look at some of the ways you can create a baking business from your home and truly enjoy your career in 2021.

Learn the right skills

The first step to building a bakery business is to ensure you learn the right baking skills as well as decorating and styling. You can find many amazing tutorials online on YouTube or take a small course on SkillShare which will equip you for a successful baking venture. Once you have the right skills and experience you can set off and achieve your baking dreams.

Get creative

Creativity is the key to a successful baking business and now is the time to experiment with colours and flavours to make your creations unique from anything else out there. Add hazelnuts to your cookies, make biscoff cupcakes, and create unique cheesecakes with popular chocolate bar themes. Use your creativity to make fun pies and pastries and this will gain you a bake in your local area, and will also make people want to come to you for parties and events.

Sell at local markets

A simple way for you to sell your baking goods in your local area is to join a market and go there every week or once a month to showcase your creations. If you also have a Facebook page and a website you can advertise this with business cards and banners on your stall and once people start to taste your sweet treats and enjoy them, they will be more likely to come to you again when they have a craving.

Sell online

Selling online with My Business Venture can be a great way to build on your baking business and start to venture out into the world. You can hire delivery drivers or join a network like UberEats and have your treats delivered straight to your customers. You will get a lot more sales from this and you may even be able to fund a transition to a small store in your local town!

Offer bespoke creations

One way to gain more money from baking is to offer commissions for things such as weddings, birthdays, or other events. People can come to you and ask for coloured cupcakes or cakes and you can create something unique for them at a healthy price. This will be a great way to gain popularity in the baking field and become successful this year.