Becoming a Successful Entrepreneur in 2015

Becoming a successful entrepreneur

Becoming a successful entrepreneurBecoming a successful entrepreneur or business owner isn’t as easy as everyone thinks it is. If it was, everyone would be doing it. It takes a lot of hard work, dedication foresight and training. Whilst the basics of starting up a new business are important there are many other things to consider such as education, skills, research and tools. There are several factors that are important for any start-up or expanding business to engage in but the five top reasons as to why new businesses can and do can be found at forentrepreneurs.com A surface look at the top five main factors can be below.

 

 

 

Becoming a successful entrepreneur involves conducting your Research Properly

Why do people just launch straight into a business start-up with an idea? If you haven’t done your market research properly the odds on your business failing are pretty high.

Startups mainly fail due to a poor fit in their market. For most, they find a great product or service that they love and apply their own thoughts and needs to the product or service without actually Identify the value it will provide for their chosen market and how it will impact on the market and potential customer base. Neither do they consider how they will reach customers effectively and efficiently.

So, you have a business product, service or idea, the question you should be asking yourself is, not how many I will sell or how much money I can make but does it show irrefutable value to the customer, does it cater for supply and demand, is there any demand? Is your target groups problem significant enough to sustain your success? How will your product or service change with time? What are the triggers that will make your customers purchase from you rather than your competition? What value are you offering? Etc., etc.

Recent studies have been carried out on what factors make a business successful or not and out of every possible factor, timing came out as the top factor for success. If you have the right product at the wrong time, you’re not going to succeed. The question is: Is your market timing finely tuned? Is your market ready for your product or service, if not change your product, service or idea until it becomes finely tuned with what the market needs and wants.

Becoming a successful entrepreneur means you have to use the right tools

The internet is absolutely choker block full of useful business tools but how do you know which tools will work best for you and your business. If you focus on what existing successful business owners have to say on which tools work best for them and follow their example you won’t go wrong.

Tools such as Wyzowl.com, MailChimp.com , Jing.com , SEMrush.com and Zopim.com are great if you are just starting out marketing your business. Make sure you test an array of marketing tools before you settle for one or the other. You need to find the best fit for your business and your skills in terms of budget and usability in order to get a great return on your investment.

As for specific business tools which are necessary for the efficient and effective running of any start-up, we’ll cover them in the next blog.

Becoming a successful entrepreneur means preparing for change

Change – what a dirty word? Change is one of those words that send most people running in an opposite direction. However, it should come as no surprise that successful entrepreneurs and business owners welcome change. The business world and the global economy are anything other than predicable and as such a level of calculated risk has to be undertaken to survive in the business world. In order to make the change to your business in order to move with the times you must prepare for a change in market expectations, trends and products/service needs.

Change is the constant in any business environment whether you are an entrepreneur, SME or a global company. Having the willingness and eagerness to embrace and adapt to change will give you a competitive edge over other businesses in your market. By positioning yourself to stay on top of trend shifts you can strive to always remain ahead of your competition. Whatever the trend is do it well, do it better than your competition and do it before your competition.

Whatever problem you may be facing or are projected to face, make sure you implement change quickly regardless of any challenges that you may face. Don’t give up at the first hurdle, change, change and change again until you have overcome the obstacles and get your business back on track for success. Successful business people do not give up and they are not resistant to change.

Successful entrepreneurs apply Pareto’s Principle

In business as in life, 80 percent of all results are achieved from 20 percent of our efforts. Most of us waste the majority of our time, resources and money doing what we think is right, or how we’ve been told to conduct our business or affairs, or how we are expected to conduct our business. If your business has the ethos of, ‘it has always been done this way’, change it. Change the ethos and your mind set fast. The times are changing, what is needed and expected is changing and more importantly you need to change the math. Make sure 20% of what you are doing reaps in 80% of the money/income/dosh. If you’re not prepared to make this change, you may can end up losing everything whereas; successful business owners focus on the 20 percent that matters the most, and outsource the remainder to virtual assistant companies.

Becoming a successful entrepreneur means providing customers with amazing service

Many businesses fail due to customer service, or the lack of it. When customers buy from you they expect to go on a journey. A simple example would be when I was in Rome. I went to a simple and small cake shop for cheesecake as it was my birthday. The shopkeeper was happy talking away about how the business had been in his family for over a hundred years and that the recipes were authentic. The shop looked like I’d stepped back in time and was just wonderful. Although I was overwhelmed by the look of the shop and the specialness of the cheesecake I had chosen, the journey didn’t stop there. I took the bag from the shopkeeper, wished him a good day and returned home. When I opened the bag I found a lovely little message and the cheesecake was wrapped in gold tissue paper. What a lovely experience and yes, I went back again and I told my friends too, who also went to the little cake shop. You see, the owner offered more than just the product, he offered an experience, and he took me on a journey. There’s a valued business lesson to be learnt from this story. Don’t focus on the sale; focus on providing great customer service.

Customer service isn’t just about handling complaints and resolving issues; it involves creating loyal customer service program, staff loyalty programmes and incentives for customers and other businesses alike to embark on the journey that you offer by referring others to your business.

If you are interested in growing your business with us, we can help you embark on your journey in a positive and successful way. For more information contact us.

 

The Benefits of Hiring a Virtual Assistant Are . . .

Top tips to help you save time whilst making money

What are the Benefits of Hiring a Virtual Assistant?

Virtual Assistants help you to streamline your time

and cut your outgoings

The business world is witnessing a surprising rise in the number of virtual assistants hitting the market, to the extent that the virtual assistance and Business Process Outsourcing industry is a flourishing market. One of the reasons for the increased use of virtual assistants by Entrepreneurs and small business owners is that there is now an over abundance of very affordable business tools, services and readily available technology that enables work to be carried out across a virtual platform.

Your business is safe when outsourcing to a VA

When you outsource your business tasks to a virtual assistant you can avoid  the need for office space, tools and equipment for what would be employees. There are no employee costs such as national insurance, pensions or holiday pay and it also, benefits the employer as he/she can hire a virtual assistant to get the tasks done during peak project hours or at other times when extra help is needed. Your business and business task are perfectly safe and secure and will remain confidential to your company and the virtual assistant under contract, so there is no need to worry about your business information leaking to your rivals.

Working on Demand

Many virtual assistants work on demand for their clients and are able to take up extra work to free up time for the business owner leaving the owner to focus on core competencies and higher value work rather than the nitty gritty of running a business.

We are Cheaper than Employees

Hiring a virtual assistant works out much cheaper than hiring an employee as a virtual assistant gets paid a one off fee for the job that they do. The majority of virtual assistants are self-motivated and always strive to produce results of superior quality while maintaining short turnaround times. This is an added bonus for any business.

What Exactly is a Virtual Assistant?

To cut to the chase a virtual assistant is a service provider who assists in their client’s business operations, remotely from a virtual office anywhere around the globe. Virtual Assistants are independent freelancers/outworkers who work on a predetermined basis, which can be short or long-term. They connect with their clients through Internet services and by telephone enabling them to get the work done virtually. Because of this, both entrepreneurs and small businesses are gradually choosing to outsource their time-consuming tasks to virtual assistants.

A varying array of tasks can be delegated to virtual assistants ranging from general administration to specialised tasks which can be undertaken by a virtual business specialist, who is someone who specialises in a particular field of work.

What Types of Work Do We Undertake

The types of work which  can be outsourced to a virtual assistant normally fit into one of two main categories:

a.    work which you can do yourself but takes far too long for you to complete

b.    work you have no idea how to do and need someone with the right skills to help you get it done

Types of business and professionals who hire virtual assistants are:

  • Entrepreneurs
  • Start-ups
  • Small businesses
  • Web-based companies
  • Tutors, Coaches
  • Independent Professionals
  • Contractors

 You can gain the following advantages by hiring a virtual assistant:

  • You can save on skilled labour costs by outsourcing work offshore
  • You can be sure of dedication and hard work by the Virtual Assistants
  • You don’t need to allocate office space
  • You don’t need to provide paid benefits such as holiday pay.
  • You get more time to concentrate on business improvement and expansion
  • You can hire a virtual assistants on a short-term basis, especially during peak business hours
  • You only pay for the job done
  • You can pay by the hour or job

So regardless of whether you are a small, medium-sized or big business, irrespective of which field your in, you can hire a virtual Assistant to help you reap the timely rewards which you deserve!

 

 

 

STARTING YOUR OWN CONSULTANCY BUSINESS

STARTING YOUR OWN CONSULTANCY BUSINESS  – In just about any field is possible

STARTING YOUR OWN CONSULTANCY BUSINESS

 

 

Starting your own consultancy business isn’t as hard as it sounds. All you have to do is have an idea, a field of specialism and the gaul to get up and do it. Experience is one of those things that you build up along the way. As long as you know enough about your chosen field to be able to answer any practical questions and to solve your clients business problems and provide solutions you’ll be able to go it alone as a consultant.

There are so many opportunities out there to be taken yet most people let them pass bye. Why? Some may think they haven’t got what it takes; some don’t consider themselves experts and others simply find it too much hard work. Each and everyone of us has a talent that we can specialise in, whether it’s gardening, cooking or sewing to programming. Yet starting a consulting business is far from people’s minds and is one of the most lucrative ways of drawing on your expertise and creatively making use of your skills.

Yes it’s a popular field to go into but there are so many areas which you could specialise in, it is nearly impossible to saturate a niche market – and potentially very lucrative for would-be business owners. The consulting industry is worth billions globally and a good consultant could earn up to £500 per hour depending on the field of expertise, location and credibility.

Many people enter the consulting field from all different backgrounds and easily find their niche. If you are ready to become your own boss and set yourself free from the 9 – 5 slave trade then start by following the few simple points below to get started.

BUILD YOUR REPUTATION BEFORE GOING IT ALONE Spend a little time in your niche helping others establish their needs. i.e. if you are going to be a business consultant start by helping local, small businesses get on their feet. Don’t charge for your time initially, as word of mouth and a good reputation will serve you well in gaining new clients. Always remember that any expertise that you have gained in your field is not wasted, if you put it into practice what you know by helping others.

PARTNER WITH OTHER BUSINESSES For some, building their company or brand name is of utmost importance, they can’t see themselves credible without it. If name recognition is more of an issue than expertise is for you, start by looking for a local and established company to partner with. This partnership will allow you to build your name, define your services and reach clients that you wouldn’t ordinarily have access.

MAKE A CLEAR DISTINCTION BETWEEN YOUR SERVICES AND THOSE OF SIMILAR COMPANIES One of the most important things to remember when setting up a consulting business is that it is important to call yourself a consultant from day one. So many people do not set themselves up as consultants from the beginning which means that potential customers may not find you or your services credible once you start to call yourself a consultant. Be very clear about the services that you can offer, if you offer business consultancy, don’t advertise non related services to your customers or on your site. If you start off calling yourself anything else than a consultant of XXX services from the start, your potential customers will be confused as to what you are all about.

Make sure your business and your services are clearly defined. If you want to reap the full benefit of being a consultant and for what you are offering, you must only see yourself as a consultant. Consultants earn more money than contractors or a freelancers., it’s as simple as that.

If you are interested in starting up your own business as a consultant make sure that you invest in yourself first. Nothing in this life or industry is rewarded by inactivity. Learn as much as you can, do as much as you can and revise what you’ve done on a regular basis. There’s always room to grow and expand and that’s where you will grow in expertise and confidence. It’s also how you will find your customers, from the need to grow.