Owning and maintaining a very successful small business can have its challenges but if you know what you are doing, everything can really work out great for you. There are many helpful tips that you should learn, if you are the owner of a small business and then by learning about these tips you should have the ability to have a very secure and profitable future. Knowing how to operate a small business properly will give you and your employees much relief in knowing that their positions are stable and secured. Your employees will be much happier, as will you, if you do all of the right things and play your cards right. In this article I am hoping to teach you a little bit more about managing a small business so that you will be a success. Having a small business definitely has its own advantages and some of those will be included throughout this article.

It is very important for you to learn more about what it takes to run a small business successfully so that if you or someone you know becomes interested in opening your own small business, you will be much more knowledgeable about all aspects of it. Another great thing about owning your own small business is that usually this means you will for sure have many more awesome customers that will tell others about it and continue coming back themselves. You will have a reputation for owning and managing a very reputable, friendly and affordable, yet small business. A small business would typically go over very well because there will be enough customers to continue keeping you with plenty of customers and when people are on vacation in your area, they too have probably already heard about your small business and many of them will choose to come into your small business and will be quite pleased by the friendly employees and the great prices. Check out the other small businesses in your area to see what it is they are doing to draw in more new customers, do not copy them but definitely kind of take a few little suggestions and ideas from watching others with more experience.

Advertising is something that most businesses do, which you as a small business owner will as well at some point in time, however, even without the professional advertising, your small business will still be successful due to all of your loyal customers that absolutely adore coming into your wonderful store. All it takes to have a very successful small business is friendliness, determination, customers that count on you and a good knowledge about business management will always make for a better chance at success. A small business could typically go over very successfully, as long as you first do some homework over managing your own business, as well as talking with other small business owners because the more experienced people could really provide you with a great deal of helpful information and some tips that can almost guarantee your small businesses success and longevity.

Did you know that, in Australia, 60% of small businesses fail in the first twelve months? For those of us who would like to start a small business — maybe even work from home — thats a very discouraging statistic.

Does that mean that your business idea is doomed to failure? Far from it! There are steps you can take that greatly increase your chances of success. With a little time and some serious research you can hit the ground running. Lets start from the beginning

The bright idea

First, of course, you need to come up with an idea. Typically, business opportunities can be divided into four groups:

1. Offering an existing productservice in an existing market.
2. Introducing an existing productservice to a new market.
3. Offering a new productservice in an existing market
4. Introducing a new productservice to a new market.

At this stage of the game the only limit is your imagination. Inspiration can come from anywhere — maybe you have a hobby that youd like to turn into a full-time job; you may be on the receiving end of bad service one day and decide to try doing it better yourself; or you may have a talent that youd like to capitalise on.

Once youve come across something that youd like to do, its time to take a look at the market and see whats on offer.

Passing the test

So youve had a great idea and youre keen to roll with it; now its time to put it through its paces. For the purpose of the exercise, lets say that you have a passion for healthy living, and that you want to distribute a range of lifestyle accessories that promote healthy living with a do-it-yourself approach.

Ask around: Is there a market for products that promote healthy living? What sorts of products are available? Who would you be competing with and what do your competitors offer? Do you have the necessary skills to run such a business and — more to the point — what would those skills be? Where would your business be located?

Once youve answered those questions you should have a fairly clear picture of what your business will look like.

You source some products and decide to do some further research into the range of lifestyle products offered by a company called Vitality 4 Life. Your own life experience plus some work youve done as a dietician has given you the necessary skill sets, and you think that youll be able to work from home, giving you more time for family. There is an existing market, but theres room for expansion. Now its time to take a closer look.

To be or not to be?

Its time to get down to the nuts and bolts. You dont want to jump into something feet first and find out the hard way that the budget just doesnt work.

To get started, sit down and work out if you need to hire staff, which means paying wages.

If you lease a premises youll need to be able to pay the rent, and your location will have to be suitable for your business and target market (which also means that youll have to think carefully about just what that target market is). Youll also need to work out the likely demand for your productservice.

Ok youve worked out that there is enough demand for good quality juicers, sprouters, water filters and other high end accessories to take a shot at a distributorship as a home-based business opportunity. Now you need to make some marketing decisions.

Look at me! Look at me!

Advertising can be costly so youll want to be sure that your advertising budget is spent wisely. That means more market research, this time one-on-one. Profile your customer groups so you can aim your marketing at the right groups of people.

Draw up a questionnaire (a short questionnaire — people run out patience if you ramble for too long) and hang around outside a few of the local gyms (for our particular example). Come up with a mixture of open questions (What do you think of..?) and closed questions (Do you have a gym membership? YesNo.); sliding scales can be useful too.

For our health accessories business, a good question might be How did you hear about this gym? Radio, tv, newspaper, word of mouth etc Such a question would then give you an indication of the types of media that your target group responds best to.

Choose a business name, print up some business cards, buy some stock and get ready to trade!

Measure it, manage it!

A teacher of mine made the point that, in business, if you cant measure it you cant manage it.

You need to be able to plan ahead, and to do that you need to know — or to be able to accurately predict — your total sales. The equation is simple: number of customers x average sale x frequency of visits per customer per year = total sales. Remember it, revise it often, measure your business and youll be able to manage it!

Keep an eye on your bottom line and, most importantly, always be aware of your cash flow — the cold, hard cash that you have in the bank. Allow for invoice periods (14 days, 30 days etc) when youre planning your budget.

The market place has a life of its own, and no one can prepare for every contingency. Put some thought into your idea; make sure that theres a market for what youre offering; research, research, research; promote your business effectively; always know whats going on in your bank account and dont forget about cash flow!

Its not perfect but, if you follow these few simple steps, youll be miles ahead of many new small business ventures. If youve heard of a great home-based business opportunity, or have a product or service of your own to market, youre off to a great start!

Undoubtedly, the internet can make the difference between a successful small business and one ignored by customers. Due to the global nature of the Internet surpassing physical frontiers between nations, and even making it unnecessary to use printed business cards when they can easily be hosted online.

Web presence can make small businesses more competitive from any angle, allowing you to understand new trends, as well as discover opportunities and problems without wasting time. A small business with Internet presence improves your opportunity to connect with a number of suppliers and customers that otherwise might not be possible in your local area.

Furthermore, traditional printed business cards including an Internet address, not only opens a new range of possibilities to succeed, but also is a way to increase your communications, showing an appealing professional appearance, no matter how big or small your business or company is actually. Magnetic business cards often create a long-lasting marketing image.

In fact, you will be surprised to see prospective clients seeking what they want through search engines. Others might check for URLs in business cards instead of browsing the printed yellow pages, because a web presence translates is synonym to having a shop or booth in every corner of the world, where every individual or small business can have the same presence as the big enterprises.

Of course, budget, skills, knowledge and other Internet resources determine the performance of every small business online. However, it will always be beneficial to develop your business web presence if you want to get customers from every location around the world or, as a practical alternative, you can create online business cards for you, your partners and employees.

On the Internet, you will find a number of websites offering both services, development of your web presence and creating your online business cards, ranging from low-mid prices to those unaffordable for people who are just starting a new business venture. However, you do not need a big budget to start.

There are a number of free Web hosting services that will gladly give you web space to develop your presence. If you have no idea how to create a website, they usually have facilities called online tools or web site builders, allowing you to create a nice looking page with just a small amount of information regarding your small business, products and services.

If you do not feel comfortable with those tools, there are other options for you. If you want to create only a business card that looks like real printed business cards, you can always get free or cheap web templates, coming in a variety of designs and only requiring your information to be uploaded, which will create your web presence instantly.

People toy with the idea of starting a small business at various stages of their lifes. Some think of starting a small business after their educational career is over. Some think of starting a small business because of unpleasant or unhappy situations they have encountered in their work places. There are also others who think of starting a small business, because that is the only way they will be able to work again following a break from work for reasons such as health or redundancy.

Toying with the idea is one thing, but if you are taking positive steps to get started, then certain myths associated with starting and running a small business should be dispelled from your mind.

1. Starting a small business might appear to be an easy option to many who are desperate to get out of a situation but running a business is not as easy as it appears to be.

2. The general impression created in the minds of many people is that you can make a lot of money by running a small business. A few people do make a lot of money by running a small business. On the other hand there are many people who loose a lot of money unfortunately due to lack of proper research and planning.

3. Another myth is that you are the Boss, so you can work when you want, relax when you want and go on holidays when you want. You are the Boss that is all to it. The rest simply does not happen because of other factors that come into play which will need your presence and attention most of the time.

One major blunder made by many small business entrepreneurs is that they never made any self assessment before starting. It is absolutely important that you do a self assessment to find out whether you possess the following qualities and capabilities that are necessary to operate a successful small business.

1. You must be of sound health.

2. You should be able to work on your own most of the time.

3. You should be self motivated and dedicated.

4. You should possess an outgoing personality and have the ability to get along with other people.

5. You should have the ability to work under pressure.

6. You should preferably have some knowledge about your business.

7. Failure is no option to you.

In addition to the above the following factors have a very important and significant impact in the success of your small business.

A good support system such as your spouse or members of your family.

Contacts in the business world who could help you with advice and help you promote your small business.

Good financial assets to help you start and develop your small business and sustain you during the early months.

Conclusion:

Since they are popularly known as small businesses, many would be entrepreneurs are under the impression that it could be run in a slip shod manner. Most of the inputs necessary to operate a large business successfuly are also necessary in the small business venture too.

Success does not come overnight. There could be disappointments and failures during the early months.Those who cannot withstand these pressures should not contemplate starting a small business.The ability to withstand all these pressures and remain motivated is absolutely necessary to succeed.

One of the keys to running a successful small business or home office is learning to control costs. Even the smallest expenses can quickly add up and cut into profits, leaving you with a business that won’t move forward.

Many small-business owners know where their money comes from, but are not as clear on where it goes. This can have a significant impact on their businesses’ cash flow.

It’s important to review your expenses regularly – every quarter if possible – so you can accurately manage your outgoing expenditures and look for ways to save.

Demos Parneros, president of U.S. stores at Staples Inc., provides the following suggestions to save your business money.

* Buy last year’s model. Furniture, computers, PDAs – there is always something new. This also means that there is always something old. If you wait until the end of the year or for sales throughout the year, you can save on your office needs.

* Buy in bulk and buy ahead. By buying commonly used items in large quantities, you can save a lot. Replenish your supplies before you run out. Thinking ahead, and thus buying ahead, gives you a chance to comparison shop and take advantage of sales.

* Buy products that save money. Consider quality alternatives to national brands. Staples ink and toner products, for example, offer consumers quality products at a 15 percent to 20 percent cost-savings per cartridge.

* Take advantage of discounts. Professional and trade associations often offer their members discounts on insurance, travel, shipping and other common expenses. Similarly, some credit cards, like the American Express Corporate Card for Small Business, may get you discounts as well.

* Save on mail costs. Mail costs for your business can add up fast. To save money, use postcards or consolidate shipping. You also can buy or lease a postage meter or get a mail scale to eliminate overpaying.

One of the keys to running a successful small business or home office is learning to control costs. Even the smallest expenses can quickly add up and cut into profits, leaving you with a business that won’t move forward.

Many small-business owners know where their money comes from, but are not as clear on where it goes. This can have a significant impact on their businesses’ cash flow.

It’s important to review your expenses regularly – every quarter if possible – so you can accurately manage your outgoing expenditures and look for ways to save.

Demos Parneros, president of U.S. stores at Staples Inc., provides the following suggestions to save your business money.

* Buy last year’s model. Furniture, computers, PDAs – there is always something new. This also means that there is always something old. If you wait until the end of the year or for sales throughout the year, you can save on your office needs.

* Buy in bulk and buy ahead. By buying commonly used items in large quantities, you can save a lot. Replenish your supplies before you run out. Thinking ahead, and thus buying ahead, gives you a chance to comparison shop and take advantage of sales.

* Buy products that save money. Consider quality alternatives to national brands. Staples ink and toner products, for example, offer consumers quality products at a 15 percent to 20 percent cost-savings per cartridge.

* Take advantage of discounts. Professional and trade associations often offer their members discounts on insurance, travel, shipping and other common expenses. Similarly, some credit cards, like the American Express Corporate Card for Small Business, may get you discounts as well.

* Save on mail costs. Mail costs for your business can add up fast. To save money, use postcards or consolidate shipping. You also can buy or lease a postage meter or get a mail scale to eliminate overpaying.

If you are looking to start a small business of your own, there is a proven process that is necessary to start off with. Many creative people have great business ideas, but their approach to planning is ineffective and eventually flops. First and foremost, you have to find a market that is a good size. Now what does this mean exactly? Finding a niche market that is a reasonable size entails pinpointing one that is big enough to make a profit but small enough for the resources of a small business and one that does not compete with large corporations.

Two main mistakes that entrepreneurs make in finding small markets are targeting a market that is too broad and targeting a niche that is already heavily exploited. What you decide to sell must connect product to target audience or you will not be successful.

To start off with, choose your own unique area of expertise. What are you good at? What do you have experience in? Use your education, your skills and the people you know who could help you transform your idea into reality. If you have many areas of interest and are not sure which one would be the most profitable, a little more research will be needed. Consider how it will be possible to convert your education and skills into money-making opportunities. Research your surrounding marketplace to see what is needed in your area.

Now if you are trying to find small markets online, be forewarned that this can be tedious and time-consuming. You will first have to think of a list of possible target audiences, then take your first idea and research an exhaustive list of keywords and keyword phrases that people in that target audience are using for information on their desired product. Next, one must research all keywords and phrases for relevancy and then study which keywords on your list might lead to other niches that will need future researching. Then, you need to compare all your keywords to web pages to evaluate the present competition. You will use all your information to narrow down your list to keywords and phrases that have the most online traffic and those that are the least exploited. If your small market does not appear to be profitable, you must start the entire research process over. If you do find one that seems to be a money maker, you then must focus on finding ideas to profit from.

Awareness and Mastery -Two Essential Keys To a Successful Small Business

At the heart of it, mastery is practice. Mastery is staying on the path.”
~ George Leonard
US pioneer in human potential

We often hear managers complaining that their employees arent productive, dont listen and just cant consistently get the job done. As a youth sports coach, I hear coaches with similar complaintsthe kids dont listen, dont know where to go and dont try very hard. I cant relate. The boys on my team are usually focused, do what I ask of them, and work hard. As a business owner, my employees are focused, do what I ask of them and work hard. What am I doing that is different from the rest? And what can this teach you about running a successful small business?

As a coach, I make my boys jobs very simple. I ask only two things of them. I ask them to master one shot and I ask them to be aware of what is going on around them. Of course we work on defensive and offensive strategy, but both of those revolve around the two keys that I gave them for successawareness and mastery.

I teach awareness by constantly asking them to be aware of where the ball is and at the same time to be aware of their teammates are and where their opponents are. I teach them how to see the ball and their opponent when he doesnt have the ball. Sounds simple, but for ten year olds this is work.

I teach mastery by assigning homework to each boy. The second week of practice, they have to show me a spot on the court from which they can make a shot every time. I dont care if it is from just two feet under the basket. I want them to know they can make it every single time. As the season progresses, they may gradually move their spot further and further out, but I still ask that they be able to make their shot every time unguarded in practice.

These two simple concepts have a tremendous effect on the boys during their games. They have incredible confidence in their ability to make shots because they know that they will always make it. I dont need to yell at them like other coaches about where they should be on the court because they have developed awareness of what they are doing and seeing. Now lets see how you can use this in your successful small business.

As a business owner, I put these two key principles to work in training my employees. From the first day on the job, I work with them to be aware of what tasks are needed, what I expect of them, how I want customers treated, etc. And I ask them to master tasks and customer scripts. Once they are mastered, I open it up for them to adlib just like with my players. When correction is needed, it is usually in one of these two areas. They are either unaware of what is needed or they havent mastered the task at hand.

Not only does following these two concepts make it easy for me to get results with my players and employees, it also brings incredible results. My first team lost only one game all season and my employees rarely lose a sale. My businesses and products win awards earned by my employees. And, as a bonus, everyone enjoys themselves with this simple structure. I knew I was doing it right when the father of one of my boys told me that his boy enjoyed practice so much that he chose to come to practice instead of going to see our professional basketball team play one night. And I know it works with my employees because they show up on time happy, focused and ready to work. Remember, awareness and mastery are two essential keys to a successful small business.

For more tips on creating a successful small business, visit http:www.biznbeyond.com and get your free copy of From Vision to Action –A Five Step Process For Getting Started, Getting Unstuck, and Eliminating Overwhelm

Awareness And Mastery Two Essential Keys To A Successful Small Business

At the heart of it, mastery is practice. Mastery is staying on the path.”
~ George Leonard
US pioneer in human potential

We often hear managers complaining that their employees arent productive, dont listen and just cant consistently get the job done. As a youth sports coach, I hear coaches with similar complaintsthe kids dont listen, dont know where to go and dont try very hard. I cant relate. The boys on my team are usually focused, do what I ask of them, and work hard. As a business owner, my employees are focused, do what I ask of them and work hard. What am I doing that is different from the rest? And what can this teach you about running a successful small business?

As a coach, I make my boys jobs very simple. I ask only two things of them. I ask them to master one shot and I ask them to be aware of what is going on around them. Of course we work on defensive and offensive strategy, but both of those revolve around the two keys that I gave them for successawareness and mastery.

I teach awareness by constantly asking them to be aware of where the ball is and at the same time to be aware of their teammates are and where their opponents are. I teach them how to see the ball and their opponent when he doesnt have the ball. Sounds simple, but for ten year olds this is work.

I teach mastery by assigning homework to each boy. The second week of practice, they have to show me a spot on the court from which they can make a shot every time. I dont care if it is from just two feet under the basket. I want them to know they can make it every single time. As the season progresses, they may gradually move their spot further and further out, but I still ask that they be able to make their shot every time unguarded in practice.

These two simple concepts have a tremendous effect on the boys during their games. They have incredible confidence in their ability to make shots because they know that they will always make it. I dont need to yell at them like other coaches about where they should be on the court because they have developed awareness of what they are doing and seeing. Now lets see how you can use this in your successful small business.

As a business owner, I put these two key principles to work in training my employees. From the first day on the job, I work with them to be aware of what tasks are needed, what I expect of them, how I want customers treated, etc. And I ask them to master tasks and customer scripts. Once they are mastered, I open it up for them to adlib just like with my players. When correction is needed, it is usually in one of these two areas. They are either unaware of what is needed or they havent mastered the task at hand.

Not only does following these two concepts make it easy for me to get results with my players and employees, it also brings incredible results. My first team lost only one game all season and my employees rarely lose a sale. My businesses and products win awards earned by my employees. And, as a bonus, everyone enjoys themselves with this simple structure. I knew I was doing it right when the father of one of my boys told me that his boy enjoyed practice so much that he chose to come to practice instead of going to see our professional basketball team play one night. And I know it works with my employees because they show up on time happy, focused and ready to work. Remember, awareness and mastery are two essential keys to a successful small business.

Awareness and Mastery -Two Essential Keys To a Successful Small Business

At the heart of it, mastery is practice. Mastery is staying on the path.”
~ George Leonard
US pioneer in human potential

We often hear managers complaining that their employees arent productive, dont listen and just cant consistently get the job done. As a youth sports coach, I hear coaches with similar complaintsthe kids dont listen, dont know where to go and dont try very hard. I cant relate. The boys on my team are usually focused, do what I ask of them, and work hard. As a business owner, my employees are focused, do what I ask of them and work hard. What am I doing that is different from the rest? And what can this teach you about running a successful small business?

As a coach, I make my boys jobs very simple. I ask only two things of them. I ask them to master one shot and I ask them to be aware of what is going on around them. Of course we work on defensive and offensive strategy, but both of those revolve around the two keys that I gave them for successawareness and mastery.

I teach awareness by constantly asking them to be aware of where the ball is and at the same time to be aware of their teammates are and where their opponents are. I teach them how to see the ball and their opponent when he doesnt have the ball. Sounds simple, but for ten year olds this is work.

I teach mastery by assigning homework to each boy. The second week of practice, they have to show me a spot on the court from which they can make a shot every time. I dont care if it is from just two feet under the basket. I want them to know they can make it every single time. As the season progresses, they may gradually move their spot further and further out, but I still ask that they be able to make their shot every time unguarded in practice.

These two simple concepts have a tremendous effect on the boys during their games. They have incredible confidence in their ability to make shots because they know that they will always make it. I dont need to yell at them like other coaches about where they should be on the court because they have developed awareness of what they are doing and seeing. Now lets see how you can use this in your successful small business.

As a business owner, I put these two key principles to work in training my employees. From the first day on the job, I work with them to be aware of what tasks are needed, what I expect of them, how I want customers treated, etc. And I ask them to master tasks and customer scripts. Once they are mastered, I open it up for them to adlib just like with my players. When correction is needed, it is usually in one of these two areas. They are either unaware of what is needed or they havent mastered the task at hand.

Not only does following these two concepts make it easy for me to get results with my players and employees, it also brings incredible results. My first team lost only one game all season and my employees rarely lose a sale. My businesses and products win awards earned by my employees. And, as a bonus, everyone enjoys themselves with this simple structure. I knew I was doing it right when the father of one of my boys told me that his boy enjoyed practice so much that he chose to come to practice instead of going to see our professional basketball team play one night. And I know it works with my employees because they show up on time happy, focused and ready to work. Remember, awareness and mastery are two essential keys to a successful small business.

For more tips on creating a successful small business, visit http:www.biznbeyond.com and get your free copy of From Vision to Action –A Five Step Process For Getting Started, Getting Unstuck, and Eliminating Overwhelm