Monday, January 22, 2018

GROWING YOUR BUSINESS

Courtesy of AMAC Business Solutions

How to Grow Your Business: Tried and True Ways

Updated January 04, 2018
(Used from www.thebalance.com)

Learning how to grow your business isn’t just a worthy goal; growing your business is often a necessity for your business’s survival and your economic well-being. What can you do to get your business beyond the bare sustenance level? What can you do to turn it into the income-generating powerhouse you envision? Try one or more of these growth strategies. All have been successfully used by other businesses and, with some planning and investment, will work for you.

1. Penetrate your existing market.

When you think about how to grow your business, the first thing that probably comes to mind is getting new customers. But the customers you already have are your best bet for increasing your sales; it’s easier and more cost-effective to get people who are already buying from you to buy more than to find new customers and persuade them to buy from you. See 6 Sure Ways to Increase Sales and 10 Low-Cost Ways to Promote Your Business for more.

2. Ask for referrals.

That's not to say that getting new customers is a bad approach. One of the easiest ways to do this is to ask your current customers for referrals. But notice the verb. Having good products and great customer service and just assuming that your customers are passing the word about your business isn’t going to do much to increase your customer base; you have to actively seek referrals. During or after every job or sale, ask your satisfied customer if he knows anyone else who would be interested in your products or services.

3. Innovate your product or service.

Discovering and promoting new uses for your products or services is a great way to both get existing customers to buy more and attract new customers. Think petroleum jelly and duct tape—and how few of these would actually be sold if they only had one use!

4. Extend your market reach.

There are several ways of growing your business by making your product or service available to a new pool of customers. 
The most obvious is to open stores in new locations, such as opening a store or kiosk in a new town. New locations can also be virtual, such as a website with an online store. Another approach is to extend your reach through advertising. Once you’ve identified a new market, you might advertise in select media that targets that market. If your new market consists of a younger demographic, you may want to use social media for advertising, (See How to Create a Social Media Plan.)

5. Participate in trade shows.

Trade shows can be a great way to grow too. Because trade shows draw people who are already interested in the type of product or service you offer, they can powerfully improve your bottom line. The trick is to select the trade shows you participate in carefully, seeking the right match for your product or service. Trade Show Tips will help you get the best return on your investment.

6. Conquer a niche market.

Remember the analogy of the big fish in the small pond? That’s essentially how this strategy for growing your business works. The niche market is the pond; a narrowly defined group of customers. Think of them as a subset whose needs are not being met and concentrate on meeting those unmet needs.
A nursery, for instance, might specialize in roses while a home design business might focus on window treatments.

7. Contain your costs.

Surprised? Bear in mind that when we’re talking about growing your business, we’re actually talking about growing your business’s bottom line. And the difference between pre-tax and post-tax money can make this a very effective growth strategy. There are two main approaches to cutting costs; liquidating your “loser” products and improving your inventory turnover10 Ways to Cut Business Costs provides details on these two strategies and more.

8. Diversify your products or services.

The key to successful growth through diversification is similarity. You want to focus on the related needs of your already established market or on market segments with similar needs and characteristics.
An artist might also sell frames and framing services, for instance. Or a mountain bike rental business might switch to renting skis and snowshoes in the winter season.

9. Franchising

The stories of entrepreneurs who have become both well known and well heeled due to franchising their small businesses are legion - and not just stories. If you have a successful business and can develop a system that ensures that others can duplicate your success, franchising may be the fast track for growing your business. Is Franchising the Business for You? 

10. Exporting

Expanding into international markets can also be a powerful boost to your business’s bottom line. Like franchising, this is a way of growing your business that requires quite a commitment of time and resources, but can be extremely rewarding. How to Develop an Export Marketing Plan outlines the process of getting into exporting if this way of growing your business interests you.

Time to Grow

There you have it; how to grow your business. Don’t let this list overwhelm you; pick one or two of these ideas that are suitable to your business and your circumstances and get your plan for growing your business underway. Quick-Start Business Planning will get you started.
While you probably won’t experience growth right away, whichever way of expanding your business you choose, you will see progress if you keep at it, and will successfully transform your business into all you want it to be.

Susan Ward is a business writer and experienced business person; she and her partner run Cypress Technologies, an IT consulting business, providing services such as software and database development.
She has also run her own business as a computer/software instructor.
You can follow Susan on Google+, on Facebook, TwitterLinkedIn and/or Pinterest.
Or email her.
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Saturday, January 20, 2018

FREEBIES FOR THE WEEK OF JANUARY 21, 2018



Here are some freebies  to keep 2018 going. Get them while they are hot because once gone, they are gone. Enjoy!


1.) 94 Free Kindle Ebook Downloads-These kindle ebooks can be read on the kindle, but also on your computer with the kindle program, or the kindle app on many different mobile devices. Kindle ebook prices change very frequently, so make sure that the price is $0 before you checkout. If this post is more than a day old, there is a good chance that many of these ebooks are no longer free. Make sure you visit this link to see the latest Free Kindle Ebook post, and all the previous posts. Happy Reading!
Today’s top rated books:



















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Friday, January 19, 2018

BUILDING TRUST IN YOUR BUSINESS

One of the most important qualities in building a business is to establish trust. First within yourself and with your customers. I say within yourself first because YOU are your business. You believe that you can hold high standards for business as well as sustaining and maintaining integrity. Also, belief in yourself plays a strong role because it holds the foundation so that your business can be become strong and long lasting.

Secondly, building a trust with your customers is very essential because it can make or break your business. Take consistent and positive actions such that your customers can depend on you to do the services and produce the products you offer time and time again. Customers are the bread and butter of your business because you do right by them, you build long lasting relationships and secure referrals as well.

Cutting corners, going the cheap route and not doing what was suppose to be done are no no's and can destroy trust so quickly. How many times have you dealt with other business concerns only to find them not meeting the standards you held them to? It can be a harrowing experience and sadly, a costly one.

Remember, when you do business and build customers, you are a customer as well to business owners. This should keep things into perspective by adhering to the golden rule.

How have you built trust as a business owner as well as giving trust as a customer? Please share in the comments below. I support and encourage you!πŸ’“



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Thursday, January 18, 2018

BIRDS OF A FEATHER

You ever noticed in the air around this time the birds who fly in a 'v' shaped pattern? There are usually black type birds, all the same. This explains the theory of "birds of a feather, flock together." They are those "people having similar characters, backgrounds, interests, or beliefs". 

Observe at different settings such as jobs, parties or other social settings how various people seem to gravitate to one another? They stay put and do not venture out to other groups. This can help you when knowing your circle. 

Take a piece of paper and write down all of the beliefs you have. Think of the people that you be around the most and see if they are similar to you. Nine times out of ten, they are and those who do not belong in your circle will go to one where it is a perfect fit. 

It is very important to know and choose your circle very carefully because when you a running your business, those traits can permeate into not only your business but personal, spiritual and physical life. When there is someone you want to do business with, check them out carefully before giving the final say. If you date, be sure that those who want to come into your life be on the 'same page' with you. 

Ask lots of questions because this is your life and you want it to be a successful one. There is nothing wrong with being vigilant and diligent with your circle because you deserve the best and are worthy of the best.

How has developing a healthy circle of people in your life helped you in all areas of your life? Please comment below and know that I support and encourage you!πŸ’“

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Tuesday, January 16, 2018

LET THE UNMOTIVATED MOTIVATE

You see lots of people around you who 
seem to have no
Courtesy of shutterstock.com
motivation to move forward or do anything. It pains you because some of them are so smart and talented. No matter what talks you may have with them, they continue to stay where they are in their "comfort zone." There is a solution for this though and it has to do with you not them. As you continue to observe those unmotivated, why not take mental notes and do the opposite? Let these people who are unmotivated to motivate you?


For instance, when you see someone being unmotivated in deciding to get fit and healthy, you take baby steps by exercising (walking 30 minutes to start) and slowly incorporate healthy foods into your diet.

Another instance is when others tell you that it is impossible to start a business, they have tried and failed; tell yourself that it can be done and build ideas, then implement them one at a time.

When saving money is a chore for the unmotivated, start small yourself and you would be amazed at how your nest egg will grow. 

The unmotivated do not have to be a downer for anyone, but an upper. They can help you to see past the appearance and get your going and growing. Please comment below and share your short story how the unmotivated have motivated you. I support and encourage you.πŸ’“


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Saturday, January 13, 2018

YOUR PEOPLE VS. NOT YOUR PEOPLE

A time will come as your business grows you will have to practice the law of discernment on people. What I mean by this is that you will have to determine whether they are "your people" or not. 

So I have come up with a list to break it all down for you. 


Your People

1.) They are loyal customers and clients who know that your products and services are of good quality and do not mind paying the price.

2.) Clients and customers who rave to others about your business and insist that their referrals go to you pronto.

3.) Your friends who say that they got you, really got you. If you have a setback, they are asking "what can I do?", "what do you need?". Struggle is not allowed in your world according to them.


Not Your People

1.) The price is too high regardless if the product or service is of good quality. These folks want to be "hooked up" despite the fact that the materials behind the product and service takes a great deal of money to create.

2.) Those friends who always seem to never have time to help you yet wants you to be on standby for them. Your business is of no importance to them. If you are struggling, "it sucks to be you".

3.) When success explodes for your business, those 'ghost friends' want to be the first to receive an invite to any party you give or are given. You become the "Bank of " if they need a loan and they tell everyone how they met you.

This list can go on and on so please comment below with your list. Remember the law of discernment as you climb the business ladder so you'll know and do better. I support and encourage you!πŸ’“


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Friday, January 12, 2018

BEATING THE SMALL BUSINESS BLUES

Courtesy of commonsensedevelopment.com


Ok, so you are finding yourself looking at your computer screen because nothing is going on. No sales, no appointments, no leads, no paypal, no direct deposits, nada! You wonder if all the i's were dotted and the t's crossed. Your cell phone is checked for messages as well as social media for likes, comments and dm's. It is like no man's land in your small business world. Aggghhh!

Do not worry fellow entrepreneur because if you did all of the things you were suppose to do, everything will fall into place at the right time! Please do not shoot the messenger, I am just saying that there will be times when we are on a roll. The monies flow, the appointments are booked beyond recognition and the dm's make you think of the Gotti rap: "It goes down in the dm's" (for those rap affecionados). Even your social media comment section is bursting with hearts and kisses. Just know that your 'desert of no flow' is just temporary. Think of it as a positive...(ok Dorothy, what the hell are you talking about?). I am talking about this would be a great time to do other stuff. Like for instance:


*Cleaning your desk and drawers you had been saying you would do
*Call those buds of yours to set up lunch or coffee dates
*Laundry that has been piling up for two weeks (two weeks without socks or undies....NO!)
*Reconcile your personal checking account 
*Call your in-laws if any
*Meditate, yes it helps!
*Exercise (ok, walk around the block for 20 minutes!)
*Sit and do nothing...(Dorothy is insane, do nothing she says, the nerve of her...)
*and you can find many more things to do in this desert period...trust me😁

So the next time you find business slowing down, go to the above list or make up one of your own for back up. You will kick the blues in the butt in no time. Please comment how you would beat the small business blues. I support and encourage you!πŸ’“

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Thursday, January 11, 2018

YOU ARE OF VALUE


Congratulations! You have taken the steps that most people would find scary...that of becoming an entrepreneur. You are making sacrifices that seem crazy to some yet you know deep inside of you that it makes your heart sing taking risks. As you set up your business plan on paper and later in action, please realize that one of the things that denotes good character is how you value yourself. 



You see, as you build your business, it is not something outside of yourself because YOU are your business. Every idea, move, risk and more is from within you. This is to say that you must never compromise your value system at all, for no one. The key is to value yourself through the process and allow yourself to level up.

For instance, lets say that you charge a fair amount for a product or service and complaints come to you saying that the price is too high. It maybe high for them yet when you weighed all the factors in pricing, it came up as quite reasonable. You are tempted to lower it yet instinct says no! Bottom line is that some will pay and some won't, end of story. Think of it like this: would Hermes or Gucci lower their prices because some complain of their items being too high?Nope, because they feel that they give great value and this goes for you too. You may not be in these designers' category, yet the key word is value

Suggestion: each time you are feeling like you are about to compromise on your product or service, go within. Ask your self this question:

 Do I feel that I am not worthy or deserving of having success in my life?


A lot of times, it is more of programming you grew up with and you carry it with you in every area of your life. Meditation and prayer is good for tapping into those areas.

Value your business because it is YOU that touches every aspect of it. I appreciate your comments in the section below and I support and encourage you!πŸ’“



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