A Few First-Time Business Owner Tips

January 31, 2013

BusinessWhen you’re thinking of starting your own business, a lot of preparation and hard work is ahead of you. To make this journey quicker and easier, here are a few tips when starting a business:

  1. Focus. Focus. Focus.
    Many first-time entrepreneurs feel the need to jump at every “opportunity” they come across. Opportunities are often wolves in sheep’s clothing. Avoid getting side-tracked. Juggling multiple ventures will spread you thin and limit both your effectiveness and productivity. Do one thing perfectly, not 10 things poorly. If you feel the need to jump onto another project, that might mean something about your original concept.
  2. Know what you do. Do what you know.
    Don’t start a business simply because it seems sexy or boasts large hypothetical profit margins and returns. Do what you love. Businesses built around your strengths and talents will have a greater chance of success. It’s not only important to create a profitable business, it’s also important that you’re happy managing and growing it day in and day out. If your heart isn’t in it, you will not be successful.
  3. Say it in 30 seconds or don’t say it at all.
    From a chance encounter with an investor to a curious customer, always be ready to pitch your business. State your mission, service and goals in a clear and concise manner. Fit the pitch to the person. Less is always more.
  4. Know what you know, what you don’t know and who knows what you don’t.
    No one knows everything, so don’t come off as a know-it-all. Surround yourself with advisors and mentors who will nurture you to become a better leader and businessman. Find successful, knowledgeable individuals with whom you share common interests and mutual business goals that see value in working with you for the long-term.

Read more… entrepreneur

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Quote of the day…

January 29, 2013

‘Business, more than any other occupation, is a continual dealing with the future; it is a continual calculation, an instinctive exercise in foresight.’

-Henry R. Luce

Future


LDP wine of the week- Lomond Pincushion Sauvignon Blanc 2010.

January 28, 2013

This week’s LDP wine of the week is the Lomond Pincushion Sauvignon Blanc 2010.

Although powerfully flavoured and full-bodied, this is a very elegant wine with prominent flavours of green fig, ripe pineapple and gooseberry.

Excellent enjoyed on its own or served with fresh green salads, seafood such as fresh oysters, and white meat dishes.

Read more… capelegendsLomond


A few Small Business Sales Techniques

January 23, 2013

salesGood sales are an intricate part of any business, so here are a few tips to help achieve your goals quicker:

 

1. Describe your vision for how you want your business to ultimately be and you wish to be remembered.

Mentally consider all possibilities, verbally express the most appealing, and then write it down. Discuss the ideas(s) with your trusted peers.  Refine as needed until you are able to pinpoint exactly what you are setting out to accomplish and are able to succinctly express it in all forms of communication.  This is the essence of building your brand.  Once in place, you will be able to advance to a comprehensive branding program.

2. Write a mission statement on how you help your clientele.

This is a strategic sales technique because most businesspeople only think in terms of themselves.  But when you begin thinking about your clientele’s needs, you already begin to distinguish yourself and your service.  Communicating you are in business to serve others builds brand awareness and encourages sales.

3. Establish a 12-month s-t-r-e-t-c-h goal.

The meaning of this is that you momentarily believe it will take 15-18 months to achieve with what you know today.  But upon following the plan as it is described in its entirety, you will achieve it in 12 months.

4. Establish 2 quarterly projects relating to your 12-month stretch goal.

The reason for only two is because our world changes very rapidly.  There is no sense in wasting time, as that is one of your most precious commodities.

Read more… futuresimple


Quote of the day…

January 23, 2013

‘The things we fear most in organizations – fluctuations, disturbances, imbalances – are the primary sources of creativity.’

-Margaret J. Wheatley

Shaking hands


LDP wine of the week- Rietvallei Estéanna Red 2009.

January 21, 2013

 

This week’s LDP wine of the week is the Rietvallei Estéanna Red 2009.

Deep, ruby red in colour. Expressive cherry and cassis aromas on the nose with delicate hints of violets. On the palate, the cherry flavours persist with just a hint of vanilla and cedar and a good lift of acidity. The tannins are sumptuous making this is a wellrounded wine which is showing beautifully in its youth but which has the structure and fruit to mature for a good 10+ years.

Excellent with rare roast beef or lamb and with more complex dishes of feathered game.

Read more… rietvalleiRietvallei


Small Business Delegation Tips

January 16, 2013

small-business-delegationWhether your business is a small operation or a 500-person firm, there will come a time when it is necessary to delegate. Here are a few delegation tips:

Starting with smaller tasks and your most trusted employees is a great, but you need much more for delegation to yield truly valuable (and continued) productivity gains. Delegation should be about growing your business and cultivating your employee base, not about one-time pass-offs for temporary reprieve. To make sure you delegate the right way, use these five tangible tips:

  1. Clearly define the purpose, significance and timeliness of the task or project. Ambiguity in these areas can lead to confusion and mistakes
  2. Communicate your confidence in your employee’s ability to get the job done
  3. Establish a method to track success. This helps ensure that employees continue to improve and grow with their new task
  4. Follow up! Don’t micro-manage, but rather try to get a good feel for when it’s right to ask how your team is doing
  5. Praise team members for success. Raises often go with increased responsibility, but sometimes a simple “good job” from the boss is the only morale booster necessary

While passing off tasks can help you avoid becoming overwhelmed, you don’t want to trade one stress for another; always delegate with a plan in place. Encouraging team members to take on more responsibility can foster a winning work culture, increase productivity and help grow your business.

Read more… smallbusinesscomputing