Successful Business Owners Love What They Do

When I use the term successful business owner I mean the person who is not only financially capable, they are all round content with their lives.

If you looking to start your own business the most important factor is not how much money you will make, it is how much will you love running the business. Whether it is an offline or online business it needs to be something you are passionate about, something you get excited about doing daily.

Doing something purely for financial gain the best way to fail, either due to the business folding or you not having the enthusiasm to give it your best. The amount of passion you have will determine the amount of action you take to make your business successful.

What Makes Successful Business Owners Different?

The real successful business owners of the world love what they do because they had a vision before they started the business. This vision is very important, without it you are just trying something out rather then making a success of it. When your just trying things out you will notice the most important thing on your mind will be how much money you can make.

While these times of trying things out can be beneficial in the sense that you learn what isn’t working for you, they will also set your further back from what you are really passionate about. There is always a learning phase we all go through and if you firstly study a few successful business owners who love what they do it will be more beneficial to you in the long run.

Using this learning phrase rather than your need for money you will certainly be armed with the necessary ammunition to start making profits. I guess what I am saying is to be patient in your learning time and do it right from the start by surrounding yourself with people who have been there and already achieved what you want to achieve.

The initial first stage of success does not have dollars signs on it, it has a lot of hard work and passion that gives you the drive to make the money you desire. Without the passion to drive you it will not last, money will only keep you motivated to succeed for a short time.

If your wanting to be a successful business owner start with a vision of you doing what you love and doing it well. This is the first step in the right direction. Always keep it in mind that successful business owners love what they do.

Wishing you much success.

Social Networking – New Revolution – How To Capitalize

Do you guys remember when the internet first started? If you were born before about 1985 you can remember back to the days of dial up internet and newsgroups. It seemed as if the world literally fell in love with plugging their phone cord into the wall and listening to the computer dialup to the internet. People built communities, newsgroups, forums, and chat rooms. The smart people were the ones who created all these mediums for people to communicate on. In a way, social networking started a long time ago.

Now, let’s fast forward to 2008. Social Networking has literally taken the world by storm. Everywhere you look people are trying to start the next MySpace, Google, or Facebook. Marketers, advertisers, businesses, and ordinary people are looking for ways to capitalize and make money on these social networking sites. These people see opportunity knocking on their door from social networking and want to be a part of the game. Then there is the 95% of others out there who sit back and wait for things to happen. These are the types of people who enjoy “playing it safe” their whole life. They like to watch as others go out on a limb and try something new.

Isn’t it time you join the new revolution of Social Networking? The industry is now a multi-billion dollar industry, it’s time for you to find your niche. You don’t necessarily have to create a social network, but you should at least take the initiative to learn more about these amazing networks that are literally taking over the internet. Who knows, maybe you’ll find a way to capitalize for your business, hobby, or trade.

Facebook is quickly becoming the world’s largest social network, with over 60 million people signed up. The number is growing exponentially on a daily basis and is really starting to get up there. With a social networking so large, you know Facebook had to come out with their own advertising platform. Of course they did, Facebook Ads, formally Facebook Fliers are getting a lot of attention around the Internet. Since Facebook started offering advertising solutions, it seems their way of providing value to the marketer has improved with every update. At first, they had a program called Facebook Fliers. The basic concept of Facebook Fliers was you paid for per thousand impressions. While this was a good concept, it didn’t work as well as it way supposed to. The current program being used is called Facebook Ads, which has the option of paying per click or per impression. The targeting, pricing, and setup seemed to improve with Facebooks newest creation. The general consensus found with everyone I have spoke to is they are experiencing much better results using CPC versus CPM. If you think about it, if your visitor actually takes the time to read your ad, and then click it, they have to be interested.

Join the revolution today and learn about social networking, Facebook ads, and how they can help you grow your business.

Recipe for a Successful Business Launch

Imagine staring at a table full of great mouth watering produce, fresh oven baked bread, herbs a plenty, local farm raised beef, chicken or fish, the best cooking equipment possible and perhaps a great bottle of wine or two. Your culinary vision includes creating a lightly spiced, yet full flavored appetizer followed by an entrée basked in flavors and aromas from hours of tedious preparation and then completing this extravaganza with a delectable dessert that leaves one satiated, yet wanting more.

There is one small problem with this vision, you are an extremely successful entrepreneur, but a novice in the kitchen. How then do you create this meal? Where do you start? Do you try the recipes once before making them for friends and loved ones? Who will teach you basic knife skills, how to pick the best ingredients for each dish and how to nurture each ingredient to its fullest potential? These are just a few questions you are faced with in your quest to create the perfect meal.

You decide to venture into the culinary world on a solo journey. After a minor burn, a small cut and a poorly executed recipe, you decide to hire a Chef to train you. The Chef starts you off with basic knife skills, cooking techniques and food pairings that she has honed over countless hours in the kitchen while mastering her craft. You practice the menu with her until it is perfected and then off you go to create a sensational dining experience for your guests. In exchange for her services, the Chef asks you for help in starting her business.

She has seen so many success stories and seeks your advice to prevent the all to often restaurant failure. She has a vision of a restaurant filled with happy patrons who crave her food and desire the great service. They come back again and again, but how does she start this business?

She is staring at a desktop piled high with how to manuals, various business plans and countless business books. She doesn’t have the first idea of where to start. What she needs is a recipe for success.

As the Chef walked you through the various challenges of preparing your glorious meal, you will guide her through the process of opening a business. This task may be daunting for some, yet it illuminates your strengths.

You and the Chef agree to a recipe, that when followed, should lead to a successful launch of her business. Here is your secret recipe:

1. Utilize resources that help get the idea onto paper. Plan, plan, plan. This is the most important, yet most frequently overlooked part of business creation. Can you ever remember hearing a successful business owner say, “I planned too much?” Countless resources are available which include business plan building software, free or paid for business counselors, business consultants, countless how to books and the often times underutilized mentor. It is vital for your success to have a clear and precise understanding of what your business will provide and who the target customer is. Have clearly stated operational objectives that include entrance into the business world and a clear exit strategy.

2. Create the entity. Decide on how to legally set up your business. Some choices included a sole proprietorship, a Limited Liability Company, a corporation, partnership or charity. Make certain to identify the pros and cons of each entity and all of the regulations associated with each including liability protection. Once the entity has been chosen, create the appropriate bank accounts prior to initiating any business transactions. Secure an Employer Identification Number (EIN) from the IRS for proper handling of all tax matters.

3. Determine the legal requirements. Check with local, regional and state entities and request information on the minimum expectations that are required of you to operate your business legally. Requirements may include registering with a department of revenue for tax collection agency, operating permits or licenses, health or fire inspections.

4. Build Business Infrastructure. Review your business plan and decide what type of support systems and materials you will need to build the business. Are you starting your business out of the garage, the back of your truck or with bricks and mortar? You should have a budget created from your business plan for support materials such as office supplies, computer equipment and software, internet access, credit card processing, membership fees and other support services you deem as an important part of running your business.

5. Create vital assets. Website design, trademarks, logos, intellectual capitol, copyrights and provisional patents are just a few things to consider. Often times employment contracts and confidentiality agreements are part of this process. Once created, ensure that you have policies and practices in place to protect and retain these assets.

6. Acquire financing. The financial overview and objectives should have been clearly defined as part of the business plan. It is now time to get the financing into place. It could be your savings, partnership cash or outsider investment dollars. If possible, seek counsel to review any and all financial agreements you may enter into. Each party involved must be absolutely clear as to the financial expectations of each other.

7. Establish operational logistics. Many start up companies have limited resources for accountants, lawyers and insurance needs. Additional considerations include Information Technology staff, banking, E-Commerce and website design personal. Training and Human Resources are two more areas that are often overlooked. There are countless tasks for any business owner to contend with and creating a support team is vital for their success.

8. Hire people. Acquire the very best human capitol and retain them. Outside of sole proprietors, businesses live and die by the quality of the operations team. Hiring and training are two very large investments of money and time. Establish consistent hiring and training methods that yield loyal and long- term employees who will aid in the growth of your organization. Forward thinking employers find ways to tie in employee compensation to company performance.

9. Get the message out. Market your business! There are a myriad of ways to accomplish this task and remember to stay focused on your plan. Make sure your brand’s message is memorable, clear, precise and it differentiates you from your competition. Consider your web site design, mobile connectivity to supplemental sites and the numerous avenues to open communication channels with your potential customer.

10. Open the doors, execute and Sell! Market research has been completed and a research strategy has been implemented. You have identified your potential customer and their purchasing habits. Your goal now is to under promise and over deliver to ensure optimal customer satisfaction. Embrace feedback and create powerful recoveries as needed. Fabricate long lasting customer relationships through outstanding products and services; repeat.

Give five chefs the same ingredients and ask them to execute the same recipe. You will end up with five similar, yet very different dishes. The same would be true with five different entrepreneurs and these ten steps. There is not one sure-fire way to accomplish the arduous task of creating a business. However, just like a finely tuned gastronomic creation, plenty of planning, attention to detail, a lot of hard work, the right timing and a little luck go a long way towards the successful launch of a new venture.

Bon Appetite.

The Top 10 Keys to Building a Successful Business

Building a business is both challenging and rewarding. It takes great ideas, resources, technical expertise and a lot of hard work to create a thriving enterprise. You can increase your chances for success by taking 10 key steps.

1. Honestly assess your strengths and weaknesses. Your first step in building a successful business is to take a look at yourself. Are you cut out to be an entrepreneur? Many of us are attracted to the glamorous aspects of business ownership, but it is very hard work. Successful entrepreneurs are resourceful, committed, objective and dependable. They also have a positive attitude, excellent communication skills and the requisite technical knowledge to succeed in their chosen field. Most significantly, successful entrepreneurs persevere during times of great difficulty.

2. Develop a comprehensive business plan. A business plan is your road map to profitability and success. One of the primary reasons for new business failure is inadequate planning. A well-conceived business plan describes the vision you have for your business, and the path you will take to achieve that vision.

3. Create an effective marketing strategy. Perhaps the single most important step you can take as an entrepreneur is to effectively market your goods and services. You can have the best products in the world, but if no one knows about them, your business will fail!

4. Develop a strong image package. Your image package is the physical manifestation of your brand and includes three elements: business name, tagline (your business motto or catchphrase) and logo. Your image package speaks to the vision you are trying to create for your business.

5. Select an appropriate business structure. A business can be operated through a variety of legal structures. A specific structure is generally chosen for liability and tax reasons. The most common types are sole proprietorships, partnerships and corporations. Each has inherent strengths and weaknesses, and you must determine which structure will work best for your business.

6. Begin with adequate working capital. The single biggest reason for new business failure is undercapitalization. Many entrepreneurs have failed with potentially successful businesses because of a lack of capital. Smart entrepreneurs make sure they have cash reserves to dip into for unique opportunities or for a rainy day.

7. Learn to network effectively. Networking is the proactive process of developing mutually beneficial professional relationships designed to increase each person’s circle of associates. Effective networking will increase your customer base, communicate your brand and demonstrate your expertise to potential customers. It can also help you identify leads and improve your reputation. Because of its simplicity and ease of application, networking is one of the most cost-effective forms of marketing for your business.

8. Provide quality goods and services that meet customer’s needs. Simply stated, if you provide a high quality product that helps customers achieve their goals, you are much more likely to develop a successful business.

9. Develop a winning team. It is very hard to build a successful business on your own. You are going to need help. Two of the most important sources for this help should come from an accountant and an attorney. You may also want to create an advisory board to assist you with the decision-making process.

10. Use technology wisely. As an aspiring entrepreneur, you need to think about how you can use technology to increase sales, decrease costs and better communicate with customers. Some examples of technology that can result in improved quality and productivity include application software (e.g., accounting, data management), videoconferencing (e.g., virtual meetings, webinars and teleseminars) and internet marketing (e.g., e-mail marketing, social media marketing).