In this world of instant gratification, there is still a place for one of the keys virtues known to man, especially for the work at home entrepreneur: Patience. Patience is defined as bearing or enduring pain, difficulty, provocation, or annoyance with calmness. It also means persevering; constant. Why is that so important for someone who is starting or is operating their own work at home business? Let me explain by telling you my story.
I found out the importance of patience through a mistake I made several years ago. I enrolled in a work at home business in the mid 90's. But, instead of being patient, I decided quickly that it wasn't for me and I moved on to another opportunity. Well, I decided that one wasn't for me either and I moved to another, then another, and another. Finally, I ran across an opportunity that really appealed to me. I found it on a simple web search. I clicked on the guy's website, signed up, and waited with anticipation for more details. I mean, this was exactly what I was looking for. I patted myself on the back for being “patient”. After all, I hadn't wasted my time with those other opportunities, right? Well, it turns out that this new opportunity was the same work at home business that I had started to begin with! So instead of not wasting time like I thought, I had wasted several years but not sticking with the original opportunity. Ha d I been patient to start with, there is no telling how far up in the business I would have been.
Through the years, I have learned the importance of patience in several areas of the work at home business Entrepreneur.
First, you need patience to get to know your new business. It's kind of like getting to know your spouse. Would you give your marriage 30 days and say it's too hard and leave? It takes time to get to know them. Your business is no different. A genuine work at business will offer you some type of training. You may need to go through the training several times to get the idea of how things work. You need to get to know any products you offer by studying them and giving them a try yourself. You need to understand the compensation plan so there will not be any surprises down the road when you get your commission checks. You need time to understand exactly how you are to promote your business. Be patient and you will gain the understanding you need.
Next, you need patience in dealing with and getting to know your customers/affiliates. When I first started my online business, I e-mailed my sponsor 2 or 3 times a day. Sometimes I asked the same question over and over. But you know, he was always nice and kept helping me, although I know I was getting on his nerves. His response to me was one reason I kept going. I knew deep down I could be a success and he kept reminding me of that fact. He was patient with me. Not everybody will reach your expectations. Some will join you and drop out in a day. Others will last a month and quit. But you will find quality people that are like you. It may not happen overnight but it will happen. Just be patient.
You also need patience in promoting your business. Advertising takes time, both in the time it takes to do it and in seeing results, as well as finding the best way to promote your particular business. Just because you start a business doesn't mean people will come flocking to it. It takes time to get the word out, both with online and traditional advertising. It took several months of promoting my website before I got my first customer. It takes time to send out follow-up letters to customers/affiliates you get as a result of your advertising. Advertising takes time but it will work.
In closing, let me say you need patience in the day to day running of your business. This may be the area that patience is needed the most. The thrill of getting started is wearing off. The actual work has begun. It seems that nothing is happening. Day after day, week after week goes buy. You start thinking, “I knew this wouldn't work.” But then it happens. Someone joins your program or you sell a product. The thrill is back! You are rejuvenated! Life is good. This is the feeling that you need to hang on to even when things don't seem to be moving. This should be your focus even when that little voice is telling you that you can't do it or that you should give up or when patience is wearing thin. It may not happen overnight but you can be a success. But remember, anything worth having is worth working for. Make up your mind you are going to give it time. Be patient!!
Patience: Don’t Start Your Business Without It
Simple Stress-Busting Secrets to Creating a First Class Support Team In Any Business
Stress and an occasional sense of overwhelm is a normal by-product of a successful business. Yes, we are lucky to have all the opportunities that the business world presents to us. And yes, at times, it is impossible to make wise use of our time and resources. So, the result is inevitably: Stress!
We differentiate between primary, situational, short-lived stress and long-term, accumulated levels of stress. The purpose of this article is then to help you instantly with the first type of stress. To give you tools you already possess but we all don’t utilize enough. In addition, my High-Impact Business Coaching Formula allows you to grow thriving businesses while creating rich, balanced lives and with that eliminate the second type of long-standing, highly damaging stress.
Yet, this is not an overnight process as any transformation takes time, effort and commitment. So then, this article is about allowing you to find instant relief. To find ways to bust your sense of “too-much-to-do” immediately, within seconds.
I am going to start you off with a somewhat strange statement: “Believe it and you’ll see it”. This seemingly bizarre concept is now part of a highly success stress-reduction program at the Stanford University School of Medicine. For further education I recommend “Stress Free For Good” – 10 scientifically proven life skills for health and happiness” by Dr. Fred Luskin and Dr. Kenneth Pelletier. One interesting fact about the mind is that the brain has absolutely no actual connection to reality. It relies on chemical signals from other organs to decide what's happening out in the real world. The fact that the brain is ignorant of reality is precisely what makes it so susceptible to suggestion. Harvard's Professor Jonathan B. Cohen showed that imagining performing an activity, and even just seeing someone perform it, fires the same neurotransmitters and the same pathways as actually performing the activity!
In sports, visualization has been considered an essential tool for decades. In a 1984 survey of the 235 Canadian Olympic athletes preparing for the Games, 99 percent of them were using imagery. "There's no one who doesn't use imagery," says Rebecca Smith, a clinical research assistant in sports psychology at the U.S. Olympic Training center in Colorado. No professional athlete has ever won first place by visualizing coming in last and yet we do this so often in our business world.
Since the principle is called: “Seeing the good in others”, what comes to mind for you? The saying is old but listen to it again: “Seeing the good in others”, is about seeing it in your mind’s eye, isn’t it? How often do we prefer to blame others for our stress? How often do we love talking behind somebody’s back more than finding the good in others? So, then how does that affect our leadership abilities? Since this concept of “Seeing the good in others” coincides with chapter five in my book: The Art of Succeeding by Design” which deals with leadership, it should come as no surprise that our ability to see the good in others is a highly effective trait as the leader of your small business.
Why? Well, think about it. If we could regularly let go of our judgmental tendencies and make a 100% commitment to taking responsibility for our lives (which means NO blaming, ever), combined with an ability to see the best qualities in our team members, what would that allow us to do? Yes, you would see different results. Why, because as our attitude changes, our thoughts change, our body language changes. Those working for you will feel safe and when feeling safe, there is no limit to creativity and productivity. Do you notice the disabling effects of stress on YOUR performance? It is not any different for your staff. They also get stressed and even more stressed when feeling criticized and judged. It impedes their ability to work in their highest performance zone, for you.
I guess, you are figuring out what I am proposing here. Yes, a win-win situation! Seeing the good in others allows your stress level to go down since you consistently trust that things will get done and that everybody does their best, your positive actions based on this great attitude influences your brain, and as a crucial consequence your employees or support staff can keep working in a stress-free environment giving their best in turn.
Secret number 1:
Practice your compassion. Put yourself in their shoes just for a second. Do you really know what’s going on their lives? Do you know if they are deadly scared of losing their job? Do you know if they feel empowered and equipped to do their job right? What do you know about their battle scares of life?
This does not mean being permissive and lowering your standard of performance. No, quite the opposite. By you setting the stage for an environment where fear and stress is not the driving force, you invest your time very wisely. Having a staff that lives with stress and fear is a waste of your money. Nothing gets accomplished, no new ideas come up, no responsibility is taken when fear and stress is present. If you want to create a team that is loyal, productive, innovative and equipped to take your business to success in a climate where an A+ team will be harder and harder to find, your efforts to practice compassion is essential for sustainable business success.
Ok, with that out of the way, I want to give you another 10-second secret:
It’s smiling. Yes, you heard me right, smiling. So smile right now, hold it for 10 seconds. Really smile, laugh! Do you feel better? I do. If it makes you feel better, how do you think the recipient of this smile feels? How do you feel when you encounter someone who just for the fun, throws you a smile? Yes, I thought so… pretty good.
Ok, practicing compassion and smiling more often, more randomly, more just for the fun of it, is then good for business, good for employee retention and good for your stress-management. The funny part is that you already knew all this, right? We do and still, at times, we forget. Why? Because we are stressed. Yes, that’s why.
One of my clients reported that she has attracted a much “nicer” clientele since her attitude changed and another client reported that “seeing the good in people” has significantly lowered his anxiety.
Remember, as far back as Napoleon Hill, the famous author of “Think and Grow Rich” said: “Man, alone, has the power to transform his thoughts into physical reality; man, alone, can dream and make his dreams come true.”
Like they say: War is not the way to peace, peace is. Don’t let your thoughts take you to a war zone driven by fear and doubt. Let your attitude guide you to thoughts that make you feel connected and you will reduce your stress level and make others feel safe and cared for. There is no possible negative outcome and lots of potent positive outcomes.
Do we need scientific proof for that? No, just give it a try tonight in the check-out line at the store or smile to someone at a red light, especially when you feel tired, burned out, foggy in your head. I can promise you that even a quick smile back will help your attitude at home with your family or your friends. Don’t waste a minute, practice all of the above or maybe just one but do it and do it often. Stress-busting is guaranteed.
Why You Need A Business Entity
When starting or expanding a business, many owners wonder if they should form a business entity and, if so, which one they should use. There is a wide variety of information and "pitches" being made on the Internet regarding the benefits of certain entities versus others. When you cut through the flak, however, the primary reason for forming a business entity is to create protection from personal liability arising from your business activities.
It is well established that up to eighty percent of businesses will fail in their first two years. Many of these businesses, and probably yours, carry a high level of personal risk for their owners. If you are not using the correct entity for your particular business, you are going to be personally liable if the business fails. Do you want to expose your home, car and other assets? How about the assets owned by your spouse or their paycheck from a regular job? Selecting the correct entity for your business prevents such nightmares from occurring. More importantly, you can sleep at night knowing that the worst thing that can happen is losing your investment in the business, not your home.
Business Structures
There are a number of business structure options that exist in the modern corporate world. Following is a short explanation of the most common business structures.
Corporations
Corporations come in two basic forms, a "C" corporation and an "S" corporation. There are a variety of differences, but the central one is a tax issue. Briefly put, "C" corporations are taxed on their revenues and you are then taxed separately on any money you take out of the corporation. An "S" corporation “passes through” all taxes to the shareholders with the information being reported on your personal tax returns.
Regardless of the tax classification, a corporation is considered an independent entity from a legal standpoint. This independent status acts as a shield between the activities of the business and your personal assets. As a practical example, Kmart recently filed bankruptcy. The individual shareholders were not required to file bankruptcy and lost nothing more than their investment in the stock of the company. Forming and using a corporation for your business activities will have the same effect, to wit, your personal assets will not be wiped out if the business fails.
Limited Liability Company
A limited liability company, or "LLC" as it is better known, was a very popular entity choice in the early 1990s. LLCs are similar to corporations, but can be taxed as a partnership. In California, the LLC can have either one owner or two. Regardless of the number, these owners carry the legal title of "member.” The LLC provides a shield for your personal assets just like a corporation.
Partnerships
In my opinion, it is better to have died a small child then be in a partnership. Unfortunately, many business owners form partnerships and don’t even know it. This occurs when they go into business with another person. If no business entity is formed, the law considers the business to be a partnership and treats it accordingly.
Partnerships are dangerous for one primary reason: a partnership does not provide any protection from liability and, in many ways, invites personal liability. Under well-established law, most partnerships are classified as "general". This simply means that all the partners are contributing to the administration and running of the partnership business. This classification can have grisly results.
In a general partnership, each partner is jointly liable for the debts of any other partner arising from the business. For instance, you and your partner go to a business dinner with a client. Your partner has a drink and then a few more. They then get into an accident on the way home. Each of the partners is liable for the damages claimed by the injured people. That means YOU! Even if you were not in the car, did not rent the car, never saw the car and don't drink!
Partnerships are a recipe for disaster. Stay away from them whenever possible.
Limited Partnerships
Limited Partnerships ["LP"] are perhaps the most misunderstood business entity. A limited partnership is similar to a general partnership, but allows a number of the partners to limit their liability by being limited partners. It is critical to note that these limited partners are restricted to simply making a capital [cash, content, equipment] contribution to the partnership. They cannot be involved in actively running the business. If they are, they lose any protection from partnership debts. Many limited partnerships end disastrously. If you are married to the idea of pursuing a limited partnership, you must do so in combination with corporations. That particular strategy is well beyond the scope of this article, but feel free to contact me if you wish to pursue a limited partnership.
Business owners should protect themselves by forming entities for their business activities. The real issue is identifying the structure that is best for your particular situation.
Why You Should Never Operate Any Business as a Sole Proprietor
One of the primary attractions of being an entrepreneur is being that feeling of being "independent". Defining yourself as an independent entrepreneur does not settle the question, though, of how you should organize and operate your business.
All too often new freelancers assume that being independent means being a "sole proprietor." In the United States, that means that you simply operate your business as your alter ego--you might set up a separate bank account, but you basically operate your business as an extension of yourself. You declare your business earnings on Schedule C of your 1040 and file your business taxes as part of your personal tax return. Other countries have similar systems--in France, for example, translators will more often that not operate as independent members of the "professions liberales".
There is no question that operating a sole proprietorship is the easiest, simplest way to start a business. But, no matter what the jurisdiction in which you operate, this is not the way you should operate your business--even just to "get started".
Taking any other option, which would involve establishing a legal entity separate from yourself--such as a corporation or limited liability company--is infinitely preferable to operating your business as a sole proprietor.
You see, if we were to list the advantages of being a sole proprietor, we would come to the end of the list very quickly. It's simple, yes. It's less expensive, right? Well, no. In fact, the ease of being a sole proprietor gives us our first clue as to why we should should not be interested in it. Something that is so easy to do is not likely to bear generous rewards. In business, as in life in general, what is worth having generally takes some effort.
In the case of the sole proprietorship, what is apparently cost-free is actually potentially extremely costly. Indeed, some experts have argued that the sole proprietorship is so dangerous that it ought to be outlawed!
I don't belive that this is an exaggeration. If you're starting your own business, you've probably saved up some money to get started. It takes a while to build a client base, and in the early years, the risks of failure are great. If you have not taken the trouble to structure your business properly by setting up a separate legal entity, you risk losing not only the capital you have invested into the business but everything you own personally as well.
I recall that when I was first getting started as a freelance translator, I received a job offer from a translation agency in Paris. When I looked up this agency on the payment practice lists to which I had subscribed, I was shocked to learned that the agency was suing a freelancer, claiming that through his alleged "negligence", the translator had caused the agency to lose a large account. The sum involved was over 20,000 euros.
Now, if this agency were awarded a judgment and the translator were operating his business as a sole proprietor, if he did not have the 20,000 euros in his business bank account, the judgment creditor (the agency) could attach the translator's personal assets, such as his personal savings, his automobile, and even his family's residence to satisfy the judgment!
If the translator had set up his business as a corporation or LLC, his liability would be limited to whatever resources he had in his corporation's or LLC's bank account and the company's other assets. If these corporate assets failed to satisfy the judgment, the agency would be simply out of luck--it could not touch any of the translator's personal assets.
Now, lest you think that this sort of thing will not happen to you, consider the statistics. One of out every four people in the United States is sued, and one out of every five of those lawsuits causes devastating loss. About 2/3 of those in attendance at a seminar I attended recently raised their hands when asked if they'd been sued. And remember, the incident I mentioned above involved a French agency. This *can* happen to you, and you must have structured your business properly *before* any lawsuit or threat of a lawsuit arises to be protected.
Besides this key feature of asset protection, you will gain many other excellent advantages by setting up your business as a separate legal entity:
1. You will have considerably more tax advantages. For example, as a sole proprietor you can deduct only 25% of the premiums you pay for health insurance; but your corporation can deduct 100% of such costs.
2. You will be able to split income. If you have a C corporation, you could arrange to receive income through several different entities and reduce your tax liability to the lowest tax bracket.
3. You will be able to use your entity to establish a retirement plan for yourself and your employees.
4. You may be able to reduce social security tax
(FICA)liability significantly.
5. If you do business exclusively with clients outside your home state, you could benefit additionally by setting up a Nevada corporation. Nevada not only has no state income tax on corporate profits, it also offers added asset protection through enhanced privacy to both U.S. citizens and non-U.S. residents.
"But isn't it complicated and expensive to set up a corporation?" I am often asked. The short answer to this question is "No." You can set up a corporation with you yourself as the directors and officers. And with all the resources we have available through the web, it has never been easier and more economical to get your corporation or LLC set up correctly.
So don't double and triple your risk and long term costs needlessly. Just don't do it! Get the information you need to get your business set up correctly today.
Copyright 2006 Azur Pacific Associates
Tailored Solution To Business Problem - Low Rate Business Loan
Manufacturing or retail or any other business sectors need funds at every stage of their development. Business cannot be carried forward without availability of sufficient funds. A business loan is the tailored solution for the ventures or businesses facing financial crisis.
Various banks and financial companies provide business loans. But they consider certain factors before lending the amount. These factors include the quality and value of the asset provided to be used as collateral. Another factor which is taken into consideration is the profitability of the business to be financed. And last but not the least, is the credit score of the borrower. The credit score does not have much effect on the decision of lending the amount. But good credit score always helps in availing the loan at little lower rate of interest as compared to the rate offered to the poor credit scorer.
Low Rate Business Loan is basically taken for the investment in the business. These investments can be in different forms according to the needs and requirements of the business and the borrower. It can be whether to buy new premises or to consolidate the business debts or for the purpose of expanding the business.
There are certain features of business loan which make it more productive. Business loan must be provided quicker. This is because as every minute in business is worth million of pounds. And if once the person has decided to start the new venture or to invest in the business, they generally want to achieve their target as soon as possible. In other words, their idea must be transformed into profitable action quickly. Waiting too long can result in the huge losses for them. Huge loses are not good for the lender, borrower and his business.
Another feature is that, the loan must be provided on the competitive rate of interest. Generally the rate of interest is dependent on the quality of asset and credit history.
Flexibility is one of the features which the business loan must possess. This enables the borrower to use the money in his business as he wants.
For applying for business loan, the person is only required to fill the enquiry form with the financing companies. This will lead to the addition of his name to the prospect of that concerned company. And they will get back to you for asking further details of your business if they find your profile eligible for business loan.
Making Business Easier With Autoresponders
In the online world of business, an autoresponder can do a lot for your company. Also referred to as mailbots, email and on demand, and automatic email, these tools can help you put your business on autopilot and spend more time doing other things. Autoresponders are great to have, as they are designed to automatically respond to any email they receive with an instant response http://www.BestDocSite.org
Over the years, autoresponders have increased quite a bit in popularity. They are best known for their automatic email responses, which will save you a lot of time. By using one of these programs, you won’t have to spend countless hours answering emails again. You can feel free to do other things and always know that your customers have access to the information they need anytime they want it.
To set your business on autopilot, all you need to do is get your copy ready and load it into your autoresponder. Once a potential buyer or current customer sends your autoresponder address a message, the information he or she is seeking will automatically be delivered to them. Autoresponders are very quick – delivering information via email in a matter of seconds.
Autoresponders can also help you send out free courses, articles and information, reports, information regarding your products and services, price lists, welcome and thank you letters, confirm orders, and tell others about your advertising rates. You can preset information such as this into your autoresponder, so it will automatically send the information out whenever someone requests it.
Unlike mass email messages, autoresponders can be set up to your specifications. You can send personalized messages with them as well, which will make your client feel as if the email was made specifically for him. Autoresponders will also follow up with emails as well, to ensure that you get a sale. The better autoresponders out there will notify you each and every time someone has requested your information, so you know when you have potential customers.
You can also update your autoresponder messages anytime you wish. From time to time as you get new products or information to send to your clients, you can update your log. When running a business, it’s very important that you keep your customers up to date. This way, your customers will know that you have new products available and ready for purchase. If you have a good relationship with them, they will be anticipating your new offers.
If you run a business over the Internet, an autoresponder can make life a lot easier. You can let your autoresponder handle a majority of the tasks, including technical support and sending out information about your company and your products. These days, autoresponders are the best tools for online business – as they give you plenty of free time for other things.
Personal Finances for Business Start Up
The Powerful Promoter
Many business owners agree that starting a small business will involve the personal finances of the owner, even though the business may be formally regarded as separate entities. This is probably due to the fact that the business owner may be likely to lose his source of income during the initial operations period, especially during the first 3 to 6 months. With this, adequate planning, budgeting and saving should be done by the business owner prior to starting the business so as to have a pool of funds to support personal expenses.
One of the first steps to do this would be to track your monthly expenses on a daily basis in order to adequately determine your actual personal costs. Be sure to include buffers for emergency or surprise expenses. Once you have a clear idea where your monthly expenses go to, you can then create a budget for the period that your income may be affected. It may also be a good idea to pay off any outstanding debt such as home loans or car loans, so that you have less to pay for during the critical period.
It is of utmost importance that you ensure that you have enough to sustain you, as many new business owners overlook this factor, and end up going back to employment while still maintaining their business after a few months, due to the lack of personal funds.
Apart from that, if you are starting a business for the first time and are in need of obtaining a business loan, the bank or credit union will evaluate your application based on your personal credit rating. This is due to the fact the company’s credit history is not yet available for references by these financial institutions. Therefore, the best history that they can base their judgment on your creditworthiness would be the credit history of the business owner.
What is the implication of this? This means if you are planning to start a business and obtain financing for it, it is best for you to run a check on your credit report in the event of errors and flaws. There have been cases where loans were rejected due to an unfavorable credit report, which was actually due to errors made by the system. With this, months may be needed to correct these problems, which may cause delays for the business owner to obtain the required start-up funding for the new business.
In conclusion, the business is a separate entity when it is registered as a private limited company. However, small business owners still may not escape entirely from being regarded as separate entities if they are the only owners of the businesses that they are running. Therefore, business owners should be well-informed on the areas that would require more focus on before they start their businesses.
Selecting The Right Home Business - How Important Is It?
Some people are so consumed with finding just the right home business they never seem to get started. Finding the right home business can be time consuming as there are literally thousands of home business opportunities out there. Once you have found a few that catch your attention then come all the usual questions. You know, questions like is this a legitimate opportunity? How much does it cost to get started? Who is going to help me when I have questions? How much time will I have to spend working to start making money? The list of questions goes on and on.
Although these are great questions, you will never have all the answers before you actually get started. So let’s just concentrate on the few that really matter.
If you are on a budget like most of us naturally you would need to know how much of a financial investment you would need to make in order to start your own home business. There are a few good opportunities out there you can start for less than $100. Another important part of the getting started process is finding an opportunity that offers at least email or phone support to help you when you have questions. The most important question people seem to have is, “is this legitimate and can I make money with this opportunity?”
There are a few good home business research teams that have tested many home business opportunities and can recommend the best bets and help you avoid scams. With most all of the best home business opportunities you will make money if you are willing to do 2 things. Follow directions and work consistently even if it’s only 1 or 2 hours a day.
Hey, even if you fail, most good opportunities offer a 60 money back guarantee. The sooner you get started the better. You can succeed!
Persistence Makes Your Home Business
Have you always wanted to run your own home business? Maybe you've already tried, but your home business didn't take off. Maybe running a business from home is your ream but the reality of it seems unrealistic. Never fear. With persistence, you can make your home business a success.
It's a well known fact that most home businesses fail within the first year, but less well known is that most of them don't need to. Very often, persistence is what is lacking. People starting up home businesses often have unrealistic expectations about the amount of work which running a home business requires. They may also expect their home business to start making money immediately, whereas in fact a business usually takes a few months to get going. Persistence during these early months is vital if your home business is to succeed.
When supplying grants and loans for a home business, what funding bodies look for more than anything else is evidence of your persistence during times when business is slow. All the great business ideas in the world mean nothing in the absence of persistence. Running a business from home can be tough because you have to motivate yourself. Your home business depends entirely on your persistence even when you feel frustrated, on those days when you are stuck at home working and your business seems to be going nowhere.
The good news is that, with persistence, a properly planned home business almost always has the potential to do well. If you are prepared to work hard and be patient, you can make your home business a success. Persistence is the key to taking your home business through those difficult early stages and getting you to the point where your other business skills can really make a difference. When it comes to running a successful home business, persistence is what it's all about.
Simple Business Marketing For Start Up Business
Starting up a business is never easy; it can be stressful and at often times energy draining. Things are uncertain and the risks may be too much to handle. For some people, making that jump from employee to boss seems so elusive. Different business owners have their own strategies and defining activities that would make there business marketing unique among others. But for those who made the hasty jump to the entrepreneurial world, two things should be kept in your mind, plan ahead and define your plans well.
A definite thing for those starting a business would be there market. To come up with the decision to start up a business would mean that you have convinced yourself and a handful of people that you have a profitable market. For you to define the different market segments would be the first step amongst the millions you take towards attaining success.
Being able to define the market segment is the key guide in business marketing. This enables business owners see on which aspects he should be focusing his advertising and promotions more. Like for instance, if you are a store selling wigs, it would be a bad idea to hand out brochures and leaflets to high school and teenagers which are less likely to use your products.
There are different kinds of low cost business marketing activities that you could undertake and it could only cost you a couple of dollars.
Business Alliances
Making that jump into the unknown world of entrepreneurship would be stressful for most and it would be a good idea to have a mentor who can guide you every step of the way. It would be best to build alliances with businesses who could be co-beneficiaries of your business. With this strategy you can attain leverage by having your product compliment other businesses products.
Another form of business alliance activity is by leaving information about your product at counters of high traffic areas. Have some brochures or leaflets printed or perhaps a poster that contains the information about your product and your contact details. A good example for this are car service or rental brochures left at hotel lobbies. This way if a guest would decide that he or she would want to drive they can have options.
Advertising
For start up business owners, do not be afraid of the cost of advertising. You may be overwhelmed by the cost of media advertising especially if it is done by professional advertising agencies. Advertising is essential and the core principle of business marketing. The main premise of advertising is getting your product known across your target market. There are traditional and non traditional advertising practices that would only cost a couple of hundred dollars and can have thousands of impact.
Focusing your advertising on your defined market segment would save you thousands of dollars. This is why it is important to define your market to have a marketing plan based on these data. Having extensive media coverage on a local event would be a waste of money since the reach of your media is further than your market circle.
Business marketing is not a perfect science. It would still depend on the hard work and determination of the business owner that would tip the scale between success and failure. Having a strategy would only mean a defined technique on how success could be achieved at a lesser cost.