Small Business – Step-by-Step

Small Business – Step-by-Step.

There is one big difference between those who go into business for themselves and those who don’t. Entrepreneurs don’t care what other people think about them. Their creativity, thought process, success strategies and ideas keep them too involved to think about the possibility of failure or what might be ‘the key to success’ for others. All they care about is money and success. Statistically speaking, then, men like Bill Gates would seem to have two things in common: They have trouble imagining failure, and they don’t care what you think!!

Step I

  • It is advisable to consider a range of factors before making a decision.
  • You must understand the personal and business implications of your decisions.
  • Some important factors include the location and nature of your business, the number of people involved, your potential exposure to liability, taxation considerations, and the company’s financial requirements.

  • Consulting an experienced legal professional and tax accountant is also important.
  • Your professional advisors can help ensure that you are well informed on important matters like the legal and taxation issues that you may encounter.
  • It is a good idea to get your employees involved in decision making.

Step II

  • No business operates in a vacuum.
  • The events and changes in the global landscape have an effect on your business.
  • Stay current on trends and issues happening in your industry and local community.
  • Learn best practices of the industry and keep growing your knowledge.
  • For the smooth functioning of a change that is implemented, it is important that the employee’s benefit be kept in mind.
  • While it is clear that no change can make everyone happy, all employees must welcome a change in business strategies or functions, as a step towards a better future.
  • In addition, an employer should make sure that no change is made in a way that it makes the employees feel at a loss.
  • Use a voting system or collect anonymous feedback before implementing change.
  • This not only helps form better business relationships, it further establishes the employee’s trust in the employer.
  • Technology has made all of this possible at the click of a button.

Step III

  • Learn from your surroundings.
  • Evaluate your competitors’ social media presence. It is advisable to start with LinkedIn pages, but I personally don’t think so.
  • For example, a local electrical hardware store may not have any business on LinkedIn.
  • So, based on your industry, Twitter, Facebook, Instagram, and Pinterest may be worth analysing, too. Most small businesses that are just starting up would probably not have the budget to employ a full-time marketing person, but would nonetheless want to establish their online presence as soon as possible.
  • So, they mostly find an online media consultant to help set up their Facebook page, Twitter account, website and so on.
  • You may contact HyperEffects to help you with the advertising and media related matters.

Step IV

  • The day you stop evolving, you start stagnating. Your strategy, your marketing plan, your target market, nothing is set in stone.
  • Don’t Ever Stop Evolving. Your industry will likely experience a shift, whether slight or monumental, at some point.

  • The world is changing rapidly each day. Embrace the change that technology has brought with and switch to the need of the hour.
  • For example, make sure your company has a website.
  • Consider adding the organizational chart of your company to the website, at least for upper management.
  • This will help website viewers understand who does what inside the organization, and who they should contact.
  • Use only high quality images on your website, low quality images may reflect bad image or poor quality.
  • Consider hiring a professional photographer to take some shots of staff in office or engineers working on site.
  • These photos can be used on the website and for other marketing material.
  • Archive these photos and label them for ease of use in future.

Unless all you want is to cash out, and you’ve got some built-in exit strategy, you want a long-term entrepreneurial career. There will be good days and there will be many bad days. Just don’t give up. Don’t let what others think about your business affect you. It is literally none of their business anyway!  Be strong and never stop. A business is not a goal. It is what you make out of your dreams and for your dreams. Enjoy the process!

Hyper Effects | Grow Your Business

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