Improving Existing Business Checklist

While some of us are content with working a 9 to 5 job, there are some who have the privilege and opportunity to start their own business. They are the ones who want to work for themselves, set their own working hours and be their own boss. While there’s nothing wrong in having such kind of a passion in life, making this dream come true, though, is a whole different story.

Starting a business made easy with these 8 business tips:

Create a Business Plan

It is common sense to create a long-term and strategized business plan before embarking upon the business journey. A business plan helps you understand the different aspects of a business and how you can look into each of them thoroughly and use them to make your business successful.

Create a Logo

A well-designed logo anchors a company’s brand and becomes the representative of your company on all platforms available in the business industry today. A logo establishes your brand’s identity and is also the most effective and powerful marketing tool ever. In the world where “image” is everything, it is not only important to have a logo, but also to have a pretty unique and impressive logo, one that is professional and personal too.

Finance your Business

One of the biggest and most fearful challenges of starting a business is to find the right kind and amount of funding to launch your own company, and eventually grow it too. But this isn’t such a huge hurdle it was a few years back, because our global business industry is growing by leaps and bounds due to the increased amounts of funding entrepreneurs are getting by small and large-scale investors.

Choose the Right Business Name

The most appropriate and relevant business name can sometimes make all the difference when it comes to not only starting a business but also making it a huge success. Names are quite powerful and we all know that. A company name needs to be memorable and leave a lasting first impression on the audience that you are targeting.

Plan your Company Budget

Never take the budget for starting a business for granted as it is the most valuable aspect of every business. A business budget estimates both your revenue and expenses for a particular period of time. It shows how you plan to allocate your resources in the future. Your main objective should be to keep your business and its finances on track, and creating a budgeting process is the most effective way to achieve that.

Understand Hiring Responsibilities

You may be an intelligent, sharp and talented entrepreneur, which is why you will come to realize that you’re not good at everything. There definitely must be some hard or soft skills that you lack. Therefore, hiring to fill that knowledge gap is the smartest thing you can do to grow your business. While many entrepreneurs are so overwhelmed with work that they make a hire without really thinking through the details, which can result in wasted time, wasted energy and wasted money. And to suffer such a loss at the beginning of starting a business is never a good sign, plus it’s pretty discouraging too.

Obtain Business Licenses

To legally operate, your business needs to have a business license. It can prove to be quite beneficial in the long run. Knowing that the business is licensed makes sure that its stakeholders see the company as legitimate and accountable. Plus some states have certain requirements for specific businesses, so you ought to find out what business licenses and permits you need in your state in order to start your business.

Know your Competition

No matter how unique and brilliant your business idea may be, there are chances that someone out there is already doing the same thing. Your ultimate goal is to do that same thing BETTER. And that is why it is extremely crucial to understand your competitors even before starting a business. If you’re going to offer the same product/service to the consumers who are already exposed to that set of particular products/services, then you need to draw them out by offering whatever it is in a comparatively easier, better and maybe even a cheaper way. Having such a responsible and research-friendly attitude will enable you to set your prices competitively and help you to respond to rival marketing campaigns with your own creative and unique initiatives.

You need to have these simple business tips to better improve your existing business checklist for the future. Instead of trying to focus on multiple things at one time, as a business owner, stay focused on these pointers and you’ll see how a simply made business checklist can make such a big different in your professional scalability.

Build a Plan for your “Big Business Idea”

It’s time you build an awesome plan for your “big business idea” that you had weeks ago and don’t know how to begin with. This day and age, everyone is inspired to build an empire on their own for their business and excel at what they’re bringing to the world.

When the first brilliant idea comes to you, you’re unsure how to set in motion the process of launching your own business. At this point, what you need is a solid plan of getting your facts straight about what your idea means to you (primarily) and then to those who you’re catering (your audience).

While creating an online advertising plan, it is important to figure out the business marketing goals first, and then the steps required to meet those goals. There are multi-fold methods that you can use to make the First Business Plan, but I find this one most effective and purposeful.

Step one:

Write 2 or 3 short statements describing the nature of your business idea.

When you can write paragraphs about what your business idea is, it can be slightly challenging to boil down your business’s story to 2 or 3 statements. But by using correct words and discarding statements that are more philanthropic than practical, you’ll understand the rhythm of where you’re letting too much on and where you’re missing out.

To write a good business statement that is to-the-point and accurate, define the Mission & Vision statement of your business. A mission statement is what your business is going to be. And a vision statement defines that one primary way in which you’re catering to your business customers. You can either add both the statements to your final copy or use one of them, appropriately.

Step two: 

Map the physical boundary of your business idea.

This step helps you get your goals focused on the area that you’re targeting. If your business idea is an online service providing company then you should map the places in which you are available and the places where you’re not. Your target location is infinite; you can target a city, state, country, or even continents! By having a clear target location, you’re directing the rest of your business goals in the appropriate direction so that you know what kind of customers you’re going to deal with in the future.

You can even target locations where you can find potential customers to promote your business in ways that can help benefit locations where you’re easily available. Branching out of your desired location to a potential location that bring can bring you more exposure is a good business decision: provided that you’re backed with resources.

Step three:

Identify a problem before your business is available in the market.

This step is the “eye-opener” for you. Every business caters to a particular audience, that have common interests and demographics that best fit your business objectives. But before you find that particular audience, you need to hunt down one problem that your customers can face when they’re not publicly exposed to your business. Find one or more problems in the market you’re entering, from the customer’s perspective, and you just got a few more solid reasons to introduce your business to the people.

Step four:

Summarize a solution to the problems.

Every problem has its solution. This is yet another “eye-opener” for you and your business. With a given solution to a problem, you broaden the reach of your business nature and objectives to a level that answers extremely challenging questions about the “it” factor of your business.

Step five:

Profile your competitors.

To master anything, you need to know everything about it. This time, you’re mastering not a subject, but your own business. While creating a business plan, the best possible way to move forward in the right direction, is outlining the profiles of businesses that have a nature similar to yours. This way you can highlight your distinctive methods of promoting and catering to your target audience, and completely understand what you can do better.

It is good business sense to be informed about other businesses in terms of their online advertising and customer relationships.  

Step six:

Outline your target audience.

How can you visualize a business without customers? Is your business directed towards online or offline exposure completely depends on the customer demographics. Outline both physical (age and gender) and psychological (their needs) profiles when setting up a “people’s map” your business needs.

Any achievable demographic is important for any one or more business goals.

Step seven:

Conduct a survey.

What’s more helpful than directly asking your customers what they want in terms of preference and comfort? Before you get your formula ready, you need to know whether your product is in demand or it has the potential to be in demand. Is it a wonder waiting to get discovered or is it a product that only a few might find helpful? These questions can only be answered with proper Demand Discovery Data.  It’s a simple task to write questions (survey questions) that you can ask customers to fill up online or in-person, so, in the end you’re with an accurate survey that tells you what your business can become.

If you’re not so sure about drafting questions, you can also create a very simple landing page (blog, social media account poll) to let people subscribe if they’re interested and ignore if they’re not. This way, you’re including both visual and text graphics that make the business look more attractive and tech-friendly.

Everyone loves tech-friendly personalities that grow along with the industry.

Step eight:

Compile the pros and cons for your business.

As soon as you are backed by accurate demand discovery data, you get a clear vision of the pros and cons. You face the hard truth when it comes to you and you also know the possibility of your business working in the coming months after its publicly available. Here, you’ll input your expectations and your survival capabilities.

Step nine:

Outline your team members.

With growing opportunities, you can either hire people in job positions for your company or hire freelancers that help you tackle business goals. It is important to profile your team members well because they’re your business-halves that represent the business. With better understanding of who your team members are and how they work, you can build an innovative community.

Step ten:

Set a framework for your business functions.

This is where numbers get in. If you’re outsourcing your investments, you need to have a clear strategy of how your business is going to make money and in what direction is it headed. You will be calculating your spends from rents to advertising online and offline. Only with a proper cash flow method can you present your business to those who are willing to invest in your idea, and also create a promising case to attract those who you want investing in your idea.

Consider this as the last step in your Business Plan. After you have a clear business idea that is backed by both data and practicality, you can account on your monetary decisions.

This post was originally published on Craze Commerce’s Blog Page

3 Steps To Make It On Your Own With Your Small Business Idea

Everyone wants to make it on their own, start their own business from scratch and build something that changes the pace of the world. An extant business idea is multifold and one can achieve so much by just starting off from a small family office with the right facts and numbers. But what about when you’re working, everyday and you don’t get any positive returns from your business as much as you want to; should you get more market experience by working for someone else for a couple of years or should you invest more time and perhaps money in your own small business idea? In reality, this is confusing because you’re young when you started and now it seems that you’re definitely in two minds for getting some market experience for a year or two or you want to work on your business idea, whether it’s online or offline, day and night without any other professional distraction and responsibilities. Gradually, this confusion turns into frustration and either way you’re yearning for more positivity economically from your business and that’s not happening for you. So, under the given circumstances, what should you do? Should you keep your business idea on hold for a bit because you know that it’s not going anywhere and work for someone else to get more experience and build more professional contacts who can, possibly, help you in the future or should you keep to your business and become embedded with what your goal is for your business and be extremely patient?

If you’re ever to be at such a standpoint where you’re hoping to do the right thing at the right time more quickly so you know you’re headed somewhere, MAKE SURE YOU’VE RESORTED TO THESE 4 STEPS. And if you’ve tried everything that is mentioned below and you think you shouldn’t try much, much harder again, make a decision to get more market experience for a couple of years or maybe less.  

Step One:

Make sure you’ve exhausted all your online options. Which means that if your business perspective is inclined towards fashion apparels that you source and sell online, adhere most to your online audience than your offline audience; get involved in online activities like blogging, social media, intending to take up the habit of pushing your limits for broadening your business scope by reaching out to fashion bloggers through your own blog or through other open sourced blogging platform, primarily Tumblr. Before you decide to gridlock your business, stop and do your research about all the possible strategies that are tried-and-true online and focus on a few that you can use for your business because the more you’re reading about what works for a startup, the less time and focus you’re contributing in completing the goals for your business. It is also extremely crucial to know why you’re business isn’t strengthening online because we always read articles that explain to us that the internet is monumental and we ought to be doing something for our benefit; ask yourself why your product isn’t booming online when the entire world is easily accessible and available online!

Step Two:

Are you busy or are you productive? When you’re striving hard to achieve a goal that benefits both you and your business, you often fail track of whether you’re focusing more on the basic fundamentals that can lead the way for a positive response or you’re experimenting more often with the way you look to others. It’s definitely worthwhile when you’re implementing a trick that has been tried-and-tested with positive results by those in the similar market but how about innovating something that’s unique and nobody else has it? Pretty cool, eh? If it’s your business idea, you should also implement strategies that are more personal and innovative to your likes and goals than use somebody else’s. The latter trick is easier and faster with well-grounded results, but the former ethic makes you look more original and creative; and such a quality will not only well-mark your business with  you, it will attract a potential audience on those methods.

Step Three:

Never, never and never make your business the topmost priority! This is something that is extremely hard to comprehend and is seen everywhere because one would expect to give their professional goals more priority than the rest. And in reality, I have witnessed people getting more involved with their work and completely disregarding their own personal health issues, family, friends and other worldly affairs; which I would not suggest you to do. Research denotes that success is also linked with non-professional factors such as physical fitness, state of mind, family issues and social interaction. Set substantial and challenging goals for your business, but don’t spend more than 7 hours each day to complete them, don’t be in a hurry to get things done so you can adhere to that “positive feedback loophole” more often. There are many personal practices that you can adopt to get things done for you, professionally; one would be to get up at the same time everyday and get 6-7 hours of sleep. Early morning risers can easily form a habit of exercising regularly and then going out to work at a suitable time and also have a decent and productive social life. Such personal habits can make you more positive, sound and captivated in your life which will make you successful and motivated.

These 3 steps for me are a must before you decide to go the other way. If you’re willing to give your business a try, work extremely hard to follow these steps and you’ll definitely get results quickly.

The Brainstorming Argument

Why brainstorming is opting out for creative thinking. And what can we do to adopt effective brainstorming sessions.

Opening for a good brainstorming session has become monotonous yet effective in the process for creating of solutions for problems in any business. Since “brainstorming” has become a dirty word in the business world, people are choosing to opt out of this method that has existed since its discovery back in the 1940s, by an advertising executive, Alex Osborn. This method was parallel to the encouragement of individual perspective in group meetings and the facilitation of a professional and creative environment for growth and proper office establishments. What it means that by conducting a brainstorming session, one can easily express one’s idea without the fear of judgment by those around him/her, being able to speak correctly and expressively in any crowd or possessing the ability push through problems and ease out hundreds of solutions without any office mishaps. It seems like a straightforward and transparent method that any business can embrace for the benefit of their outreach efforts; but lately, this method is considered unnecessary and short-sighted because individual mind has expanded to boundaries unimaginable and we prefer to think alone than think with a big crowd.

Keeping a good, comfortable and friendly office environment calls for a healthy brainstorming session, definitely! It should not be enough to indulge in occasional office trips or people gossip near the window or water cooler for any business because that doesn’t involve the people that you’re working with into the cycle of brand growth and innovation, instead it just builds more personal relationships around you. It’s time you make conversations that are more about your business and what you’re taking forward.

I will suggest only 1 proven way to give impulse to a good brainstorming session that will yield out-and-out results, which you may not use for one purpose, but for many others:

Prep yourself fitter before the brainstorming meeting.

Now, you may say that if I prep myself before the brainstorming meeting, I shouldn’t be in that meeting at all because I’m handling the creative thinking bit all by myself. However effective that alone study may be, it is almost better to have a healthy discussion about a solution to a problem, or an idea with a crowd because that’s not just about you or what your brain has come up with, that’s about everyone in that small conference room and which means more than one brains!You tend to think faster, exchange ideas better and react more appropriately when you’re working or “brainstorming” with a crowd. And if you’re familiar with what you’re going to brainstorm about in the next scheduled meeting beforehand, you can be of great help in-and-out of such conundrums. This way everyone around you is going to accept expressed ideas with a different perspective and even criticize about it with facts and facts only. So, you can ditch the “no criticism and fear of judgment” shred altogether and be more confident in any brainstorming session, ever!