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8 Tips To Grow Your Business

Whether you’re just starting a new business or you’re looking to grow an established business, Feng Shui can help you. By working with the natural energies of the world, you can help draw opportunity and possibility to you just by changing your environment. Here are several tips you can use to grow your business no matter where you’re starting out from.

1. Look for dead things Whether it’s plants or items that simply don’t work, if you want to grow a business, you need to toss these items, fix them, or nurse them back to health. Anything that symbolizes death or stunted growth is going to attract that negative energy into your business.

2. Seeds of change If you like the idea of symbols to represent your growth, try planting seeds and then nursing them to full growth. This will allow you to encourage the energy of upward movement and seeds blossoming into a fully mature plant much like your business. Taking the time to water these seeds and provide for their needs will help you bring that Spring energy into your business tasks.

3. Failure is not an option Though most of us would say that we learn from our mistakes, you do not want to surround yourself with reminders of your failures. Remove any traces of negative job performances or other things that went badly in the course of your business practice. This way, you will be surrounding yourself with positive reminders of what you have done well, spurning you on to do more positive things.

4. Read success stories Focusing on what can happen for your business will encourage positive energy in your day to day business life. Read success stories and post them around your workspace to remind yourself that things are possible and that you might be the next success story. Or you could write your own success story, even if it hasn’t happened yet.

5. Check your fears at the door You might also want to try your doorknob to make sure it’s not sticking. When you can not open your door easily, the energy coming in and going out is stifled. You need to make sure that your door is always working well and that you can move easily from one part of your work area to the next.

6. Look to the left When you walk into your workspace, look to the left back area of the room. Is this area cluttered and messy or is it professional and productive? This area is where energy related to wealth and success is focused, so this area should be as clean as possible. If there are any negative items in this section, you should remove them immediately.

7. Center your success Though the middle of a room is associated with health in Feng Shui practices, you might want to realize that the health of your business can also apply here. By taking care to clear this space and keep it free of clutter, you can encourage financial and business health. You might also want to hang a crystal in the middle of the room to radiate energy to all corners of the room, protecting your space from being stuffy and potentially negative to your business goals.

8. Leave some empty room So often, we try to fill every corner of our homes and offices with stuff. But when we do so, we aren’t leaving room for anything new to enter. Try to leave some empty space in your office or work area to help you encourage the energy of attraction and of possibility. Since there is always room for more in your workspace, you will be able to have more successful ventures.

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The 7 Rules of Growth For Small Businesses

For years, I have tried to answer this one question: What do small businesses that achieve sustained growth do differently from those that do not grow?

As a senior consultant for Inc. magazine, I speak to thousands of business owners each year. I’ve learned that there are no silver bullets or 17-point checklists that will lead to guaranteed growth. There are, however, seven specific areas in which growth companies concentrate their efforts.

1. Strong sense of purpose. Most leaders of companies that have achieved growth discover that it takes more than the promise of increasing financial reward to fuel their aspirations and ambitions. They find a higher calling than simply the pursuit of “more money.”

2. Outstanding market intelligence. This is an organization’s ability to first recognize, then adapt, to fundamental changes in the marketplace. Many times, small-business owners become too myopic, seeing only a limited view of the markets in which they compete. Growth leaders see the bigger picture.

3. Effective growth planning. This is the best predictor of whether or not a business will grow. To be effective, a plan for growth does not need to be overly formal or complicated. However, it does need to be written, well-communicated and regularly updated.

4. Customer-driven processes. These days, every company I talk to believes it is customer-driven, when actually very few really are. Take a look at all of the business processes from a customer’s perspective. Are they in place to make it easier for the company, or to help deliver on the promise of faster, cheaper and better for the customer?

5. The power of technology. Successful leaders don’t let the boom and bust of technology cycles give them the excuse to ignore that we live in an information age. If a company is in business, it is in the technology business.

6. The best and brightest people. Growth leaders recognize that they are only as good as the people with whom they work. The ability to hire, train and retain the best and the brightest people is often the difference between success and failure.

7. Seeing the future. Few organizations take the time to regularly consider the future. Growth leaders learn how to diligently monitor and interpret the macro forces of change affecting the world in which they live.

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Growth Strategies For Your Home Based Business

You are the most important part of your home based business. To ensure you have a dynamic business, it is important to know how to motivate and focus yourself. This article will provide strategies to help you plan the way forward.

1.Plan ahead; it is essential you make a business plan. Lack of planning means that you have no clear focus for yourself or your home based business. Know exactly where you want your business to go and what you need to do to get there. Write it down and refer to it often.

2.Stepping stones; thinking of tackling your business plan can be overwhelming. There seems to be a huge amount to do and it would appear that it will be enormously time consuming. Don’t panic! Break your plan down into several smaller ones and deal with them one at a time. This will keep you focused and the task in hand will seem more realistic and manageable.

3.Pathway to success; Once your business plan has been broken down into smaller steps, take time to review it and decide on the order you are going to tackle the various tasks. You may want change the order as you begin to work your way through it, but it will give you a starting point.

4.Display; Make your plan for your home based business a visual one. Put it on the wall of your workspace. It is important that it should not be solely a written document. Make it colourful and interesting. Use charts and pictures. That way information will be easy to see and to reference.

5.Review; as you complete each step of your home based business plan, take a little time out to review the progress you have made. It may have implications for the way you handle the next step.

6.Skills; it is important that you are able to identify your strengths and how they impact on your home based business. It is equally important to recognize areas you could improve in. Put in place strategies to counteract this. Go on training courses, work with someone who has skills in these areas or read books on the areas you need to improve on.

7.Daily plan; starting the day with no clear idea of what you need to do can be very demotivating. Each evening, write yourself a detailed to do list for the following day. Read through it first thing each morning and it will focus your mind on the day ahead.

8.Congratulate yourself; take time to celebrate your successes. When you reach a goal or complete one step of your plan for your home based business, take time to treat yourself by doing something you enjoy. It will motivate you to move on to the next stage of your home based business.

It is essential that you routinely plan and review in order to grow your home based business. Using the ideas in this article will ensure that you have a dynamic home based business that is sure to move forward.

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Planning The Growth Of Your Home Business

At this point, you may have a profitable home business on your hands. The next logical step is to grow and expand into new markets, or perhaps to create new product lines. Unfortunately, most home business owners are already short on space and have their business invading rooms once reserved for personal use only.

1. Outsource

A home office typically needs, at the very least, a lot of administration. Phones, a computer desk, filing cabinets – it all adds up and leaves your home looking messy and frazzled. Instead, you could outsource your administrative needs, like bookkeeping or invoicing, to a third party company. This lets you concentrate on actually working while letting professionals handling the busy work.

2. Plan For Growth

A growing business is a healthy business. Even if you aren’t making any profit, you are still opening up new markets and therefore more opportunities for you to do greater amounts of business. As you grow, you can afford to price your products lower knowing that you will be doing a greater number of transactions than your direct competition. In essence, you will be making less money per unit but selling far more units total for a greater profit overall.

3. Grow Steadily

Growing at too fast a pace is dangerous because you need to keep your different locations running with some level of control. For example, fast food chains succeed because they are able to deliver reliably prepared food. Consumers know that a big mac purchased in New York will be identical to a Big Mac purchased in China. Not only that, but if your business grows too quickly it will not have the professionals needed to manage it all.

4. Franchising

Instead of expanding on your own, franchising offers other entrepreneurs to let others open a store using your products and a tried and tested methodology. Of course, these people will keep a cut of the profits, but it’s a great way to expand without having to put out as much of your own money up front. Standardizing your services is one way of helping to cut costs – for example, fast food chains often have all hamburgers they create use one mass-produced hamburger patty. When you order a larger burger they simply stack more than one patty on top of one another instead of using a single, larger patty.

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Top 10 reasons for failure in home business

When you are starting your home business the last thing you want to focus on is failure. If you address the common areas for failure upfront you will no doubt succeed.

Here are some expert opinions about what a business owner should and shouldn’t do to keep a new business afloat.

1. You start your business for the wrong reasons.
Would the sole reason you would be starting your own business be that you would want to make a lot of money? Or maybe that you wouldn’t have to answer to anyone else? If so, you’d better think again.

On the other hand, if you start your business for these reasons, you’ll have a better chance at winning success:

You have a passion and love for what you’ll be doing, and strongly believe based on study and investigation that your product or service would fulfill a real need in the marketplace.
You are physically fit and possess the needed mental stamina to withstand potential challenges.
You have drive, determination, patience and a positive attitude.
Failures don’t defeat you. You learn from your mistakes, and use these lessons to succeed the next time around.
You thrive on independence, and are skilled at taking charge when a creative or intelligent solution is needed.
You get along with and can deal with all different types of individuals.

2. Poor Management

Many home businesses fail due to poor management. New business owners frequently lack relevant business and management expertise in areas such as finance, purchasing, selling, production, and hiring and managing employees. Unless you recognize what you don’t do well, and seek help, you may soon face disaster.

Neglect of a business can also be its downfall. Care must be taken to regularly study, organize, plan and control all activities of its operations. This includes the continuing study of market research and customer data, an area which may be ignored by many once a business has been established.

3. Insufficient Capital

Another common for a home business is to have insufficient funds for operations. Many home Business owners underestimate how much money is needed and they are forced to close before they even have had a fair chance to succeed. They also may have an unrealistic expectation of incoming revenues from sales.

It is equally important to consider not only the costs of starting, but the costs of staying in business. It is important to take into consideration that many businesses take a year or two to get going. This means you will need enough funds to cover all costs until sales can eventually pay for these costs.

4. Location

Location is critical to the success of your business. Whereas a good location may enable a struggling business to ultimately survive and thrive, a bad location could spell disaster to even the best-managed home business.

Some factors to consider:

Where your customers are
Traffic, accessibility, parking and lighting
Location of competitors
Condition and safety of building
Local incentive programs for business start-ups in specific targeted areas
The history, community flavor and receptiveness to a new business at a prospective site

5. Lack of Planning

Anyone who has ever been in charge of a successful major event knows that were if not for their careful, methodical, strategic planning and hard work success would not have followed. The same could be said of most business successes.

It is critical for your home business to have a business plan. Many fail because of fundamental shortcomings in their business planning. It must be realistic and based on accurate, current information and educated projections for the future.

Components may include:

Description of the business, vision, goals, and keys to success
Work force needs
Potential problems and solutions
Financial: capital equipment and supply list, balance sheet, income statement and cash flow analysis, sales and expense forecast
Analysis of competition
Marketing, advertising and promotional activities
Budgeting and managing company growth

6. Lack of time you can spend on the business

Many people start a home business on a part-time basis while raising children or working outside the home. Others start full-time when family and finances allow. However you begin, figure out how may hours per week you can devote to the business. Make a weekly chart of your activities, examine it, and determine where the business fits. Don’t assume you have time and find out later you don’t.

7. Negative attitude towards the business

Negative attitude will take you nowhere. Invariably having a positive attitude towards your business and life in general will encourage you to move on.

“Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” Mark Twain

8. Lack of Commitment towards your efforts.

The owners of successful home businesses are the ones who are committed towards their efforts in making the business a success. You cannot achieve success without working towards it. Failing to do so will only make your business a failure before you even realize it.

“The only place you’ll find success before work is in the dictionary.” May B. Smith

9. No Website

Simply put, if you have a business today, you need a website.

At the very least, every business should have a professional looking and well-designed website that enables users to easily find out about your business. Later, additional ways to generate revenue on the website can be added; i.e., selling ad space, drop-shipping products, or recommending affiliate products.

Remember, if you don’t have a website, you’ll most likely be losing business to those that do. And make sure that website makes your business look good, not bad – you want to increase revenues after all, not decrease them.

10. Forget the success factors

When it comes to the success of any new business, you – the business owner – are ultimately the “secret” to your success. For many successful business owners, failure was never an option. Armed with drive, determination, and a positive mindset, these individuals view any setback as only an opportunity to learn and grow. Most self-made millionaires possess average intelligence. What sets them apart is their openness to new knowledge and their willingness to learn whatever it takes to succeed.

So finally, you don’t have to be one of those unfortunate people. All you need to do is to become more informed, take the necessary steps when required and know what to do!

“Many of life’s failures are people who did not realize how close they were to success when they gave up.” Thomas Edison

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Tips for Running a Small Business

Running a small business – a few tips to make your life easier

When you have only just started your own business, you will need a lot to learn, not only about what you are going to do, but about all the small details of running your own business. There is no one who you can count on making the right decisions but you. The tips below may be more than useful for all small business owners and make it more probable to bloom instead of going bankrupt (a sad end of 80% of small companies).

Profit margin
First of all, remember about the profit margin. All too often we forget about making money, fascinated by all the possibilities of running one’s own business. It is very easy to thwart otherwise successful business by taking too many loans, hiring too expensive lawyer or account office and generally spending too much money on less important matters. Remember: every business is about making money. Try to reduce your costs as much as possible and you will succeed. Buy an expensive car only to feel like a “real” businessman and you will never become one.

Hiring friends and relatives
The most delicate and potentially harmful matter in running your own business is the help you receive from your friends and relatives. At first, it is often what counts most – both for practical and psychological reasons. However many small businesses become reliant from the unpaid work of friends and/or relatives and it will sooner or later end. That’s why it is highly recommended to pay them from the very beginning (even if your loved ones protest) – this will let you keep an eye on the real cost of business and won’t turn you into blood-sucking monster that requires more and more but gives nothing back.

Internet
Internet is one of the most powerful tools in business. It is not only about eBay, but also about fast, reliable and cheap communication between you and your contractors and customers. Also, as the Internet becomes more and more useful for advertising purposes, having your own website is a must – otherwise you loose from 50% to 90% of potential customers.

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Ways to grow a business

Let me ask you a question, how many ways do you think are available to you right now to grow your business? Do you think its over 50, over 100 or over 1,000? Well let me surprise you by saying in any business or industry around the world there are only 3 ways to grow a business!

Thats right! There are 3 and only 3 ways you can grow your business and they are

1. Getting more customers.
2. Increasing the size of transaction per sale.
3. Increasing the frequency of purchase per customer.

Now that makes growing your business a whole lot simpler doesnt it!

Most people in business are constantly running around trying to get new customers into their business without trying the other 2 ways. Getting more customers is fine but its probably the most expensive and time-consuming way to grow a business!

Increasing the size of transaction per sale is very easy to accomplish. You simply offer the customer more products or services when they want to buy. Say, for example, youre selling a mobile phone to a customer youd offer them a leather case, a memory card, a car-kit, extended warranty, etc. Youve just increased the size of the transaction buy a large amount and youve provided a much greater service to your customers lives! Instead of selling a mobile phone for 80 youve just made an extra 40 from the additional products and it only took 5 minutes!

Increasing the frequency of purchase is another very simple and very effective method to grow your business and if you master this you should never worry about going out of business ever again! The best way to make my point is an example.

Say you run a computer store and a new customer walks in the door wishing to buy a computer. You sell them a computer that is just right for his/her needs and you also sell them a quarterly health-check for 40 every 3 months. This has just added 160 every year from the customer and any other customer who purchases the service. They come in for the health check every 3 months, browse around the store and also buy additional products from you. Now because youre keeping their data, computer and children safe while enriching their lives with your products who do you think they will turn to when they need additional software, upgrades or a complete new system?

Now this is the best part! What would happen if you increased each way to grow a business by mere 10%? Your company doesnt grow by 10% but a staggering 33.3% for a simple 10% increase across the board! Just think what would happen if you increased each category by 30%!

Thanks for reading and remember, get more customers buying more things more often and your business growth will literally explode!