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Five Ways to Grow Your Business

business-leadershipBeing a businessman is not easy. One of the hardest parts to expand and grow your business. Here are five ways that you can do to grow the business.

1. Provide additional incentives to your employees

Employees are the heart of a company and they should be able to benefit. But do not make them work just as a business machine. You must need to gave appreciation to employees for their services, whether it be in the form of salary bonuses, add facilities, or time off.

2. Networking with existing clients and vendors

Do you work with clients and vendors, who have a business opportunity gives you repeatedly because they like your work? So take this opportunity to grow your business. Ask them to provide guidance and recommendations that will help you get a business opportunity from other parties.

3. Focus on customer feedback

The simple answer to the question of how to grow your business is that you have to hear what is happening in the market and the opinions of the customers. If a customer is not satisfied with a product or service, it will look on your sales. Focus to hear feedback about your business will give you extensive knowledge.

4. Diversification

Many businesses forget that they actually have the ability to gave additional products and services for customers, who have faithfully wearing your product. To understand how to grow your business, consider choosing diversification or expansion of products and services. Who knows, this will help you to capture new market segments.

5. Improve and expand marketing network

Do you know why most businesses never learn how to grow their business? Because they all are only concerned with raising sales of their products. Customers hate to producers who do not provide services after they buy the product. Focus on building a relationship with your customers, do not just think about how to benefit only.

10 Questions You Need Answered Before Initiating A Company

There are many plans that wish is realized when they have a desire to go into business. However, the reality is not easy as you think. Of course there will be many challenges facing your business. It takes determination, courage, and hard work in building a business, even the smallest business.

Business start

Running a business and open up a new company to be a step selected people getting tired of being an employee. No matter how proficient you are in the field, establishing the company remains to be done in a planned and thoughtful. Do not let you open a company that just a few weeks old. Moreover you to give up because it failed to run the company.

Various things you should be considered from the beginning that the company could be born and grow up according to plan. Not only was it. You would expect a number of advantages over the business you run, do not you? The following questions are required to understand before deciding to set up a company.

1. Is this your first company?

If yes, would you not have thoughts about establishing the company. Conversely, if it turns out you’ve set up the company before you step to establish the new company would be much easier. Especially if it turns out you are successful in building previous companies.

For the first time, there are many things to be prepared as a prefix in building companies. First of all you need to have is capital, either money or mentally. Then a plan drawn up with the full calculation. Then the network of connections (networking) that can help smooth business.

2. Are You Sure Want to Be Entrepreneurs?

Having a business life can be defined has a number of pretty good ability in the face of various obstacles in the company. That is, you understand exactly how to act when there is a problem and develop the company in various ways right. All abilities can be absorbed very well there.

However, if it turns out you have doubts / fears and do not want to take risks for the sake of the company, chances are you are not an entrepreneur. It would be more suitable for you to work with people as employees by salary each month.

3. Understand How Business Will you at Initiated?

If interested in the field that you make as a business, it is a good sign in starting a business. Unfortunately, it is less than adequate. Because in building a business, you will need an understanding, knowledge, and expertise are qualified to manage it. All that will help you to survive. Moreover, if one day you lose interest in the field.

4. How Understanding Your People in Business Such What?

When had the idea to pioneer the company, you might tell those nearby. You also expect feedback on the idea that you have. It is advantageous if they really understand the business you want to wake up. You can get honest feedback and constructive. Not just a mere compliment to all the plans.

5. Can you Run it on the Right Path?

In starting a business, you must have the ability to look at business opportunities that you may achieve in the future. In this case, you should be able to see whether the business you run is on the right track to deliver themselves to success or not. A good understanding of the business you are going to help you to find the most appropriate path to grow your business.

6. What You Want to Achieve?

No matter what business will be established later, you are required to have a clear goal on the business. This would be particularly relates to the field / type of business you run. Because you can specify that you want the achievement of the future. If you do not have goals, and how you will run the company well?

7. Understand How You Will Difficulties Facing Possible?

Running a business would have to be coupled with planning. You will pour all your wishes on the business. Not only plan alone, but various difficulties that may occur should you take into account in it. You can take various steps in anticipation of the good from the beginning. Basically business risks and uncertainties in it so important for you to understand this from the beginning.

8. Working Alone or Together with Others?

Most people will be happy when working with others. However, some others apparently would be enjoying his independence by working alone. It can show us how you handle the business in the future.

9. Work with High Salary or Running Your Own Business?

For some people, this may be a very difficult choice. However, if it has the entrepreneurial spirit is embedded in ourselves, we can be sure you will refuse the highest paying job though.

10. What about capital?

If you have a sufficient amount of capital, you will not face a problem in funding the company. Because you can finance his own company. However, if you do not have the capital, you should have the ability to find an investor for the business. You can also avail the loan facility in the form of Loan. Choose the smallest flowers that you do not weigh in paying credit.

10 Tips to Start Small Business and Achieving Success

Better be the head of ants than elephants. Once the pretext of employers. Entrepreneurship is indeed very tempting. With the right attitude, success is not just a dream.

business idea

If you look at Bill Gates or Mark Zuckenberg, would you be tempted by their extraordinary wealth. But are you aware, that they also start from their small businesses. And none of those who guessed scored a success as it is now.

Startups that turned into a successful company worth billions and even trillions, in the business world is not different than winning the lottery. Put all your money and hope to get the jackpot, you are going down.

Here are 10 rules to start small businesses. This list is to make you aware of the fact that there is, rather than insanely pursue your highest dreams in business.

More realistically. When creating a business model, look around and find a successful example of a business model that you want, and learn. If you can not find, whether you exceptional genius, or your business model is not going to work in the real world.

Don’t invest their own money. Since most business is a risky trip, look for a partner. So, if everything does not go all the plans, you’re not going to go bankrupt because of start-up funds before, and did not pursue the debt.

Enslave themselves. If you are not willing to work hard, long hours, forgetting personal gain and health, entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even though employees were cheap. So, your employees, is your own.

Appreciate the time. Give a monetary value on your time, for example Rp20 thousand per hour. This will help when you have to make decisions: When a store charge Rp10 thousand for shipping every week, and it takes 2 hours to go to the store by yourself, then pay continues postage from the company, because it is cheaper. It may be against the rules to 3, but even though slaves also have economic value.

Recruit employees well. Regardless the size of your business, you will eventually hire employees from outside. To that end, do the recruitment process carefully, without haste, and treat it as important when you start a business. It is unfortunate the attitude of business owners who have a vision for their business, but to recruit employees who actually prevented achieve that vision.

Sell ​​the benefits, not the price. When you start a business, naturally you frustrated marketing. But, if you compete on price, you are ultimately the selling with a mediocre or even below the capital. Master the skills to communicate with customers, to explain that the price of your product is higher because it has better value.

Know basic numbers. Knowing how much money you need for running the business – from the rental shop, electricity, employee insurance, until the price of printer ink, paper, and taxes. And for all that with how many days in a year you will open, and … that’s the basic figure – the minimum amount of income you need each day. If you never thought about the basic numbers, think again.

Use the latest technology. Newer technologies such as applications and data in cloud technology saving very cheap and make a small company can compete with larger companies. Take advantage of low-cost technologies on the market.

Treat vendors well. Treat your vendors and suppliers as possible, just as you treat customers. They can only give volume discounts based on the amount of your booking, or even in order to maintain good relations, and hope that there is an increase in volume in the future. A good relationship makes them also can understand the delay in payment, even give you free shipping.

5 Stages to enable businesses to “Go International”

In the era of open information, as now, penetrated foreign markets is not just a pipe dream. Many local businesses are slow to market its products to foreign countries.

strategic_management

Of course, to be able to penetrate foreign markets takes a variety of innovations to the product you offer is superior to competitors. In addition, there are other steps you can do to make your business more known around the world.

Following various tips that you can do to go international:

1. Find lots of information

The first thing to do is look for information related to your business. For example, for a souvenir or handicraft business, you need to find out how much interest people overseas when you market a product there. Is carving and souvenir sales you made abroad will give you a big advantage? How does the production costs when actually marketed abroad? Whether it will cover the costs of production if high sales numbers? Do not be a deficit too much if sales declined? This is what must be considered and understood.

2. Take advantage of Social Media Promotion

Did you know that the power of sale may be one of the business success? Please create the widest possible network. Perhaps social media can help you in developing the business and promotion. Moreover, people can judge and comment directly readable and reviews of others. If your business is successful, it means that the campaign carried out successfully. Automatic, good reviews come from buyers.

3. Create a product with a quality number 1

It is certain goods with quality number 1 will look for a lot of people. Although the price is a bit expensive, there are still people want to buy because of its quality. Especially if you want to run a business abroad. In addition, from the reviews, you can also assess and introspect whether the quality of the goods have been acceptable abroad or not. This evaluation is important for the future of your business produce goods or well received.

4. Find Relationship

Seek cooperation or relationship is not easy. This relationship can be used for anything, for example, to seek additional capital, cooperation care goods or consignment, and more. Including promotional and advertising media. Therefore, it helps you expand your network and find relationships. For goods, work by becoming a supplier or suppliers. For services, you can work together as a service provider or additional services.

5. Have a plan and set your business

Widen overseas business means developing skills and strategies in business. If it is true, you should have a business plan and set up as clearly as possible. It could be your colleagues or outside the company wants to see your business plan in the future to ensure that they establish relationships with the right people. By doing so, they will be more confident to do the same job if you are planning clear. You could also think about your future plans if the plan you’re running now succeed. For example, when having a business abroad and it has been reached, you certainly will not sit idly by and do not think about where the future will be brought to your business, is not it? Sure you are looking for the next target to get your business become better and better than before. With the business plan, you do not need to worry later about the next target. You like already have their own sketches for the future and staying developed and carried out.

Five formulas manage business finance for new businesses

For those who are in the first step to start a business, financial arrangements need to be disciplined in order to know how far the effectiveness of the use of capital and the level of sales turnover.

personal account

Intention to own and run a business is usually accompanied by a number of proprietary capital to drive the wheels of business.

However, the size of the amount of capital should not be an obstacle to entrepreneurship. Enterprises can run adjust existing capital, start small.

Many of the new entrepreneurs who run their business started the moment has become an employee, working in an agency or company. Initially, drive a regarded as a side business venture alone.

Side business with a small capital should still run with stability and seriousness.

Businesses with little capital may have a large turnover if the business activities really wrestled well, including in terms of regulation and financial management in it.

There are a few tips on how to manage finances in entrepreneurship, especially for those who just plays as a prospective employer or a new employer.

1. Separating the business money and personal money

Business owners also play a role as a worker in the business is run. Therefore, business owners must still provide profit allocation to pay himself.

With a system like this then businesses will only spend money on his salary alone for personal business. The size of the salary for the business owners depending on profits. So in running the business, still create two separate accounts, even though the business carried on is relatively small scale

2. Make a plan for use of money

Capital could be money or other than money. To start a business, the availability of capital is crucial. Capital money is usually used to buy raw materials and equipment needed for the passage of a business.

Capital needs are better taken from their own capital so that there is no risk owes to other parties.

The moment has benefit, the use of money also must be taken into account although for business expenses.

Planning the use of money to avoid a situation of lack of funds. Do not spend money even though the position of excess cash balances. If you have capital expenditure plans, to consider the benefits, whether to increase sales.

3. Books financial records

It’s important to have a financial plan so it does not run out of cash and had to close the business. Notes out of money in real terms. It contained only records of money in and out of the various posts.

Financial records separate business like this is so that business finances can be easily monitored and recorded neatly so it can be used for various purposes.

In addition, business owners will know clearly how much of its business assets, how much profit and so forth, so as to know the development of business, which he founded. At a minimum, there should be financial records is a cash book entry and exit cash book.

4. Managing cash flow

In the system of self-employment, it would be wise to run a business is not only focused on profit alone. Management and financial management includes capital money management, debt, receivables and inventories.

To be more effort to walk so that cash flow can continue to spin, then the system is boosted sales. In the item product sales profits may be little, but if it is able to sell a lot, then the cash flow smoothly rotates. Instill the principle of profit slightly but was able to sell a lot of products.

5. Controlling and checking assets, debts and capital

Checking finances needs to be done to know the stock of goods to be sold to consumers. In addition, it is also necessary to check the bills of the suppliers and receivables from buyers. This is done to prevent the bill is jammed or double payment.

5 Ways to save even a small salary right

To be able to have large amounts of wealth, one way to do is to save. But for some people, saving money can be a difficult case. This happens especially for those who have a small salary.

rich tips

Even so, a mediocre salary does not mean you can not make savings. There are several steps that can be applied to earned income can be set aside for future use.

The following reviews trick to save a small salary.

1. Plan your budget

Before shopping, make it a habit in advance to plan a budget who want excluded. This avoids you to buy things that are not important.

2. Buy used goods

Not always used goods of poor quality. If you are smart to choose, you can get used goods is still good quality, but at a very affordable price. This will benefit you and can increase the amount of savings.

3. Don’t use a credit card

If you still do not have sufficient income, do not enroll for a credit card. Without a clear plan, a credit card can make you have a property impulsive shopper. Instead of saving money, the money you can actually sold as a result of credit card debt.

4. Use public transport

Another way you can do to save even easier is to use public transport when traveling. These lower rates can make you save revenue and reduce costs.

5. Collect coins

Another way that can be done to save despite having a low salary is collecting coins. The return of money that you normally receive after shopping can be collected to increase the amount of savings.

Getting a Handle on Organizational Change

The only thing many of us can be certain of is change, although change can be scary, particularly for employees of a company. You might see change as a necessary way of improving a business, but it is likely that not all of those employed at your business will see it that way. Many people feel nervous if management or employers announce a major restructuring or changes at a company and may immediately start to be concerned about job security and downsizing. Although you may not be able to promise this will not happen, you should involve your employees in the organizational changes and keep them.

organization

When Should Organizational Changes Be Implemented?

Some organizational changes are not intended and may come out of the blue, but these are often not under the best circumstances. The best case scenario for such changes is they are undertaken at a time when things are positive for the company and there is plenty of cash on hand to implement changes. Less ideal circumstances involve changes that must occur when a business is facing financial headwinds. However, if you are choosing to make organizational changes, select a time when things are relatively calm and there is financial stability. Employees are much more likely to accept changes if they feel things are generally good.

Types of Organizational Changes

Organizational changes occur when a company is being taken into a new direction. You may feel that a certain approach just isn’t working and want to try something new, such as a new product or service. Changes can occur as the result of an effort to expand globally. Other alterations may be needed if your business needs to cut costs immediately. Major overhauls can happen at a company through mergers or acquisitions or efforts to avoid being taken over. In addition, there may be a need to comply with new regulations or laws. This infographic put out by Maryville describes various types of organizational changes.

How to Prepare Your Employees for Organizational Change

Sometimes employees who want a future with a particular company may feel nervous at the mention of organizational changes. They may be worried first and foremost about layoffs. If part of your proposed changes are initiated by a need to cut costs, emphasizing the financial aspect may be unsettling for your employees, although the topic may not be so feasible to avoid if it is crystal clear to everyone anyway. The best thing you can do is to keep the lines of communication open, even if you have already made up your mind about what has to be done. Letting your employees express their feelings about the issue is an important way to build trust and a feeling that you are there for them.

The Need to Change

The world is moving faster with new advances, and it is hard to compete in the global marketplace without making organizational changes now and again. There are a number of high-profile companies that no longer exist because they would not adapt to the realities of the digital world, for example.  Be honest with yourself when change is needed at your company and implement changes in a way that will create a positive effect on your workforce.