Your Business Plan - Your Roadmap To Success

Image by Raymond Yee via FlickrYour business plan is literally a roadmap to your success. If you and your family were going to drive to your vacation destination, you wouldn’t just get in the car and start driving without knowing where you were going. You shouldn’t start a business that way either.

If you are planning to have a simple home business, built around the Internet, you may not think you need a business plan. You may think only high level businesses need them in order to secure corporate funding but that’s not true.

Every business needs a business plan. When you sit down to write a business plan, you are literally mapping out the path you want to take in your business. Not only will your business plan help you define what you want to accomplish, it can help you streamline your business and create focus.

Many people may be under the impression that business plans are huge documents that can be difficult to write. On the contrary, you do not have to create a huge document at all. Your business plan can consist of a single page outlining your basic goals.

The point is to put your thoughts and ideas down in writing. When you take the time to think about your business, where you want your business to go, and estimate your costs as well as your profits, you are much more likely to succeed.

Rather than working sporadically and blindly, you will be able to look at your business plan and know exactly what you need to be working on. This can serve as a great motivator and help you reach your business goals.

A common myth is that a business plan is rigid. That once you write it, you have to stick to it. As your business grows, you can change your business plan to suit your needs. You may find certain aspects of your business growing at a faster pace than others and decide to focus more on those areas.

For instance, if you have a website and a podcast, you may one day decide to focus more on the podcast and not have as much written content on your site. Or you may decide to charge a membership fee for access to the written content.

Having your business plan by your side can help you evaluate your decisions and decide what is going to add value to your business and what will take away from your business. Before you start a new project, take out your business plan and see if this new project will fit in with the plans you have already made. This can save you a lot of time, energy, and money.

For more posts on business plans, check out this post on Evab Carmichael's Blog - The Top 50 Business Plan Posts Of The Year.

A Successful Entrepreneur Begins In The Mind

Image by Stuck in Customs via FlickrIt's a pretty safe bet to say that many of us would love to be a successful entrepreneur. The trick is getting started on this path to financial security. Key thought - start somewhere, start anywhere, just don't wait on it to come to you.

So many of us don't even have a clue what we wish to do in life. This is clearly an obstacle in the road for some.

However, you can research and slowly figure this one out. You know, take in some knowledge, attend a few job fairs, and maybe even do some job shadowing. Spend some time setting goals and evaluating what would make you happy.

You have to begin at some point.

It's true; I wanted to become a successful entrepreneur by the age of 30. Unfortunately it didn't happen that way. I kept myself so busy thinking about getting rich and retiring that I must have missed the real opportunity. LOL!

I wish someone would have come out and told me that I had to be aggressive, motivated, and driven. How was I supposed to know! I was merely a kid at the time. In order to do it one must have strong, motivating reasons for doing what's necessary.

Anyway, these are crucial characteristics to adopt if you plan to become a successful entrepreneur. You basically have to know what goals you want, and then go get them.

Don't give up at the first sign of trouble. Persistence is key. It could be a mere test to see if you're worthy. Proceed on and capture your dream. That's the way all success stories happen.

Some people just seem to effortlessly achieve everything they want. For the majority of us, a good amount of work and dedication is involved to reach the pinnacle of success. Fortunately you can get tips and pointers from the masters. Model those people who have travelled the road before you. They have real wisdom, they know just what it will take.

So if you're itching to be a successful entrepreneur in the near future, then I suggest you do the necessary recon work first. Hop on your PC or Mac and see what's up.

You could purchase books on how to become a successful entrepreneur. Take advantage of books, they are wonderful resources.

So maybe you're not quite a successful entrepreneur yet. You haven't arrived yet. Don't fret over this minor issue. It's time to get your butt in gear, get serious and take action.

Brainstorm and decide what the things are that you feel passionate about in life. What are you great at? How can you make money with these things? What value can you add that people will be willing to pay for?

It's all there for you if you just think, and go after it. Technology has opened many opportunities for small operators to match wits with the biggest companies out there. With the Internet on your side and the world at your fingertips, you too can become a successful entrepreneur.

Just decide to . . .

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Business Mission Statement, Do You Have A Vision?

Image by l0ckergn0me via FlickrOne characteristic of many successful businesses (both online and off-line) is that they have a vision for their business. They know what they are working towards, and they are creating a business that will be like their vision of the future.

It is always a good idea to stop every so often and reconsider what your vision or mission statement is for your business.

So how do you create a vision for your online business? The first step is to ask yourself what you really want to create with your business. Imagine the ideal business that you want to own. Do not be distracted by what is or is not possible and do not evaluate whether it will work.

Just consider the possibilities and how aiming for what you want will be unique to you. No one else will be able to copy it because it will be yours.

Some people will be inspired by a desire to create something new and different. Others will want to create a second income. Some will want to create a new shopping experience for their customers while others will want to create new products or services that better meet the needs of people today. Others may just want to get rich.

Once you have imagined your ideal and have a vision of what you want, spend some time considering how you will make a difference. Will you be setting a standard of customer service that will be the envy of other businesses?

Will your product or service meet a need so fully that your customers will tell their friends and generate business for you? Will you be an inspiration to all those who come in contact with you so that they will want to stay in contact and follow your recommendations?

The list of how you can make a difference is endless.

Write a short mission statement setting out your vision for your business and how you will make a difference. If your vision is based on assumptions, spend some time testing those assumptions to make sure they are valid. Keep the vision before you so that it guides your decisions and plans for your online business.

Make sure you breathe life into your written vision statement. Use powerful language that is strong on stories, or metaphors or examples. Ensure that you speak from the heart and work to make the intangible tangible. Use symbols, themes, slogans, etc., to make it come to life and be real for you, your employees and your customers.

As you move towards your vision, ensure that you listen first and often. Your customers and your employees will be able to provide you with ways to achieve your vision through their feedback. Listening in a non-defensive and uncritical way can be very enlightening which will enable you to be better able to define the needs of your customers and to satisfy those needs.

Over time, you will need to adjust some of your actions and tactics as they will not be taking you closer to your vision. Through listening to the feedback you have received, and monitoring the results you have achieved, you will know which actions or tactics need modification or change.

By way of a simple example, the results of an ad may improve with one headline but not with another. Change to the one that is providing better results.

Some businesses have experienced tremendous success through having large audacious goals.

Remember that large goals can take a long time to achieve. However, if your vision is driving you strongly, you will thrive on taking the actions required to achieve your vision over a long period of time.

Some visions are so powerful that they rewrite the industry rules and create a new competitive space.

Take the time to develop your vision for your future online business success. Know what you want to achieve and ensure that all your actions are taking you in that direction.

Listen to the feedback you receive and monitor the results you are achieving so that you can change tack if necessary as you move closer to your vision.

Dare to be different and you will make a difference with your online business. Read more on the Top 50 Business Plan Posts here.

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Business Names, Think Creatively To Drive Sales

Image by Raymond Yee via FlickrSo you've decided to go into business for yourself. You've got a great business plan, your marketing strategies are all in place and your finances are solid.

What about the name of your business? Back in the day, such names as 'ACME Automotive' or 'Bill's Cigars' would do.

Today, there's just too much competition in the marketplace, no matter what your business venture.

You need to spend some time and effort in making the name something that will be a real advantage to your sales and marketing efforts.

Creative business names will get you more attention and stand out in the mind of your customer. Creative business names can drive sales.

Today's consumer is besieged, through their home mail, email and websites with more information than they care to digest. You must pick out a name that will be heard above all the other "sales and marketing noise" in the marketplace.

The name of your business is the customer's first exposure to your business and may be the only thing that initially sticks. That's why it's important that you choose your business name carefully.

The type of your business determines the creative direction of your business name. For example, if you've got a boating shop, a nautical slant is a good starting point for a successful creative business name.

In choosing a business name, you want to target your clientele. If your customers are mainly yachting folk, perhaps a name like 'The Mariner's Den' would work. You want to create an image that's got a touch of the avant garde, a snappy sound to the cadence of the business name, an edge of mystery or romance. It all depends on what you're selling.

Put yourself in the place of your customer. As an instructive exercise, look on the net or in the phone book for a business that sells a product or service you might want to purchase. Without examining ads for what they sell or offer in services, see which names jump out at you and attract your attention. You'll see that every time, the creative business names are the ones that grab you.

Now look up businesses that sell what you're selling. Which ones are boring and which are intriguing? Which names have a good cadence when pronounced out loud? You don't want to choose a name which is a mouthful to say.

Awkward sounding names generally tend to confuse and don't stick. Don't choose a name similar to competitors because you like the sound or imagery. If you're especially taken with the name of a competitor, analyze why you find it attractive and develop your own concept along the same lines.

Imagery is another important component of the creative business name. You know what sort of imagery you ideally want to evoke in a potential customer's mind. Use a free association approach and jot down some words that describe your concept and USP. (Unique Selling Proposition)

Now get out a thesaurus or synonym finder and look up words that have that nuance you're trying to convey. Spend some time on this, don't try to short cut the process.

Developing a truly singular business names does take time, but in the end, you'll find it pays off in extra sales and marketing advantages.

Good Luck. See you next time.

Benefits Of Time Management Training For Profit Stressed Companies

Time Management Training Means Savings For Profit Distressed Companies

With so many businesses taking so many drastic cost cutting measures, it is strange to see how few of them really look deeply into the benefits of time management. Effective management of time is like effective management of any other resources – it can save your company a huge amount of money if it is properly implemented.

With the huge cost of outsourcing and moving operations overseas, it seems like every measure should be taken at home to improve efficiency before such a drastic solution is proposed.

Of course, performance management is nothing new. Although the modern understanding of the benefits of time management is a little bit different than as it was originally conceived, the concept still goes back about as far as Henry Ford and the invention of the assembly line.

Back then, workers were clocked to see how efficiently they were putting together cars. Various steps were taken to improve the program constantly, resulting in less work for the same product.

The benefits of time management are easy to see on an assembly line. In an office environment, however, time management benefits can be a little bit less apparent. This does not mean that they are not important! The benefits of time management will show up in the books, but it will take a while.

After all, the tasks that people have are usually a little bit less concrete. Rather than manufacturing a car, you have to type up financial reports, communicate with clients, and do other similar business tasks.

Perhaps the greatest benefit of time management is on the individual performance and job satisfaction of any particular worker. Without effective time management training, increased job duties can seem overwhelming.

After all, when a worker is used to getting a certain amount accomplished in a single day, adding additional tasks on is never welcome. To do that without giving them training on how to accomplish other tasks is not only unrealistic, it is also unreasonable and unfair.

The benefits of time management training are that they allow you to provide a way to ease workers into taking on additional responsibilities. If you provide them with adequate training, they will be able to cope.

If not, you can often lose some of your best, most seasoned employees to greener fields. No matter what employee benefits you offer, if you stress them out too much, or stretch their time too thin, they will leave for another company.

This has been proven over time . . . and downsizing puts unwelcome pressure on non time management trained personnel. If you want to keep these seasoned employees, help them adjust to the new priorities. Just my 2 cents . . .

Al Smith

Promoting Your New Business Takes Time And Effort

After school and early on in my career, owning a business was the dream. I must have had 40 jobs in my early twenty's.

I spent so much time worrying about how to start a business, I didn't know what to do with it once I had one. I have some rather specialized knowledge now, but back then only having a high school education, I severely lacked real business expertise.

Then, I decided to go back to school nights and get my business diploma through a local college. That took three years of working during the day and studying and lectures during the evenings.

I wanted to be Self-employed. Although I knew that it would take a lot of hard work, I could make a lot more money in business and enjoy the freedom of making my own decisions. It seemed worth the sacrifice to be able to set my own hours and be my own boss. Unfortunately, I knew nothing about how to promote your business until I went back to school.

A lot of people take courses on how to promote your business, but I naively assumed that, since I understood what I was doing, I would be able to get clients. This was a very serious mistake. I did have a few connections, and that is key to promoting your business. However, those connections were quickly exhausted.

They were simply not enough to make a decent living for me. Some of the best strategies for how to promote your business were things that I was already aware of, but I wasn't putting them to use.

Ever since I had started a business, I had maintained a good web page with excellent keyword optimized content. I did get a fair bit of web traffic, but it didn't seem to be translating into clients. Then I figured out the problem: I hadn't used any niche marketing. My traffic was far too generic and looking for information only. They were not intending on buying.

Understanding how to promote your business starts with understanding the nature of your business. In my case, because I was a small player, I needed to have a small loyal, local market. When I marketed myself as an expert located in the area, the calls started coming in.

What people never tell you when they give you tips on how to promote your business is how much busy work there is. I put up flyers all over the neighborhood, made connections at local chamber of commerce club meetings, and even went door to door to businesses trying to interest them in my flyers.

It took me about a year, but at that point I finally had a steady client base. Getting to a critical mass of people is the key to how to promote your business. Once you have enough clients, word-of-mouth takes care of the rest – at least it did in my case.

Success Or Failure, And The Fine Line In Between

Bill Gluth puts it out there with no candy coating . . . this is a fine article to take right to heart if you are just starting a business or are thinking of starting a new business.

How to Fail Miserably Every Time

Why do so many small businesses fail in the first 2 years? What is the common denominator among those who make it in spite of the odds and continue to grow?

One thing that is common among people who grow businesses that work is they get the help they need when they need it.

Another is they continue to learn and grow. But, learning is not the real secret here. Applying what you learn is the secret that turns failure into success.

Finally, people who succeed believe they can. They believe in their idea and in themselves fully. As a result, so do other people who ultimately become clients.

In coaching and working with small business owners and Solopreneurs, I’ve observed a distinct difference between those who hope and those who do.

The "doers" are looking for action steps and take them right away. By contrast, the people who hope for the best tend to wait until everything is perfect before moving forward.

Of the thousands of possibilities, what action steps should you take? What are the steps that create failure and what are the steps that create success?

Focus on the contrast between success and failure

1. Success has a can do/I'll figure it out or get help and make it work attitude.

Failure embraces I'll hope for the best, try to remain positive and wait for an outcome kind of thinking.

2. Success sells products clients want to buy. Success finds that out through polling and asking clients what they want.

Failure sells products it thinks people want to buy. Failure never asks a client what they want or why.

3. Success creates a business around a talent or passion that is exciting and motivating. Inherent strengths and personal genius are used as competitive advantages. Success easily stands out from the crowd.

Failure builds a business around past experience. Failure feels it's stuck and has no other choice but to do what it has always done. It wakes up each day in an anxious state, hoping the day goes all right but feeling deep down disaster may be just around the next corner.

4. Success loves the people it works with. It is there to serve them in the highest and best way possible.

Failure often offers high quality, lowest prices, integrity, and honesty. Failure sounds a lot like everyone else.

Long sales cycles, cutting prices and a lot of open sales that “are going to close really soon” but never do are common.

5. Success knows it will be great and come out on top. It feels accomplishment in the smallest things and is grateful and highly motivated every day.

Failure wishes and hopes things will get better. It keeps doing what it has always done and expects a different result. Failure never steps outside of its comfort zone, even though that comfort zone has long since proven ineffective.

Look around at everyone you know who is in business. Who are you most attracted to? Why?

Chances are, you're attracted to success; wanting to emulate it and enjoy that free flowing, joy filled feeling for yourself.

Businesses fail because they run out of money.

They run out of money because they don't make enough sales.

They don't make enough sales because they don't have clearly defined systems and processes to create the revenue they need.

The information is out there. There are 87,000,000 web sites (Google) when you query “sales training for small business.” There are 118,000,000 sites for “marketing plans for small business.”

Now Google “Love your life in business” – be sure to add the “ “s to narrow the search for just those keywords.

It's the love and passion for what you're doing and who you are doing it for that drives success. Passionate enthusiasm is the key that attracts business.

So ACTION STEP 6 is Learn to Love Your Life in Business

Avoid failing by embracing a mindset of being a value to others. The question becomes “What value do I have to provide this person to truly help them” instead of “What do I have to say to make a sale."

When you do, you are unbeatable, because no one else can ever be you.

You, as a small business owner or Solopreneur are the future of the American Economy. Opportunity abounds, but only if you take action to live the life of your dreams rather than staying stuck running in the same circle over and over again.

by Bill Gluth

Bill Gluth is “Your Talent in Business Expert” and a professional speaker, trainer and consultant. He is the first person to specialize in developing “talent” as a competitive business strategy.

Bill brings clear, simple and focused action steps to any business building program. He spotlights a step-by-step process for unleashing your talent in business so that you can learn how to be unique in a commodity driven world and stand out in any industry.

Find out more about Bill Gluth’s Small Business Coaching Services by visiting http://www.explosivebusinesscoaching.com

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