Most Small Businesses Fail

It is a fact that most small businesses fail. It is also true that the majority of home-based business fail. Why is it so? There are at least a few reasons for this and I would like to present some of them to you.

-Not being prepared well enough. Starting a business can be quite complicated and a business owner needs to ensure that he is sufficiently prepared. Not being prepared enough might result in a failure. Having a well-detailed business plan might help you avoid that.

-Not having enough funds. Not having enough funds can be a problem as lack of funding will immediately restrict any business capacity. It is crucial to ascertain the amount of money a business will require. Some types of businesses might require less while some might require more. Make sure that you know how much funds you might require.

-Not having good enough marketing strategy. Marketing is important, especially if you are just starting a business. It is vital for a business’ success as you will need some way to obtain new customers. This applies to both mortal and brick and online businesses.

8 Affordable Online Marketing Tactics for Small Businesses

Have you heard the saying “you have to spend money to make money”? Well, you might be happy to learn that doesn’t apply to online marketing. That is because there are many free and affordable ways to market your brand online. If you want to compete with larger, more established brands, we recommend reading our eight affordable online marketing tactics for small businesses.

  1. SEO Analysis

The first thing you must do is analyze your SEO strategy on your website. You can do this by using one of the many free analyzer tools available online, which allows you to enter your URL before it discovers a page level SEO analysis.

Some tools will even allow you to compare your website against the competition to identify where your rivals are doing right or wrong. It will also help you to identify how many backlinks you have earned and the keywords your website is currently ranking for in the search engines. You can then alter your SEO strategy to improve your web traffic for free.

  1. Keyword Research

Do not underestimate the importance of keyword research for an SEO strategy. Regularly review your keyword research performance each week to stay one step ahead of the competition in the search results.

If you haven’t done so already, you should perform keyword research using Google AdWords’ Keyword Planner, which you can use to search for new keywords and phrases that are relevant to your website. Competing for keywords in your industry could help you reach the top of the search engine results pages (SERPs), as you can incorporate the keywords naturally throughout a blog, which you should update regularly. This will allow you to successfully rank higher in the SERPs against your direct and indirect competitors.

  1. Start a Blog

Capture the attention of your target audience by starting a blog on your website. Not only does it allow you to incorporate keywords, but it will also provide your visitors with compelling, insightful content that can build trust in your brand. Try to spend one to three hours creating an engaging, well-written blog that is relevant to your website and provides value to your readers.

  1. Hire an Expert

The goal of every small business website is to drive as much traffic as possible, which can boost your brand awareness and increase your conversion rate. Unfortunately, many small businesses owners have a good understanding of their business, but they lack the digital marketing knowledge to create a solid online presence.

Any entrepreneur that wants to take the hassle out of their digital marketing strategy should hire an expert, who can help them grow their business online. For example, you can hire an experienced marketer to increase your website traffic.

  1. Grow an Email Marketing Subscriber List

It is common for budding entrepreneurs and small businesses to underestimate the importance of email marketing. However, this marketing tool could significantly improve your conversion rates, as email marketing is believed to be the leading channel for lead generation.

For example, you can experience an average ROI of $44 for every $1 spent on an email marketing campaign. It is therefore believed to be a more effective online marketing tactic than social media channels, such as Facebook, Twitter and Instagram.

Turn to an affordable email marketing platform to create automated emails that are relevant to your brand. However, you must first grow your subscriber list, so you can connect with your target audience on a regular basis.

  1. Publish Guest Posts on Industry Blogs

In addition to updating your website’s blog with fresh blog content, you must also strive to publish guest posts on other influential industry blogs. This is an effective tactic for building backlinks, which can improve your rank in the SERPs and can drive traffic to your website, as a result.

Try to secure a guest post placement on a high-authority website, which can increase your domain authority while boosting your brand awareness. While it might take time and a great deal of effort, hard work and determination, the right angle will ensure you are published on a prestigious website.

  1. Marketing Automation

Marketing automation can simplify your online marketing tasks, which will allow you to focus on another aspect of your small business. You can automate almost every platform, from scheduling blog posts in WordPress, email marketing campaigns in the likes of MailChimp, or use a social media automation tool to buffer your posts to suit optimum engagement times on various platforms. So, don’t blow the budget on hiring employees to do the job that an automation tool can do at a faster, accurate and more affordable rate.

  1. Social Media

With billions of active users using social media platforms every day, you must ensure you have a strong online presence to boost your brand awareness and increase lead generation. However, it is vital you do not overwhelm users with promotional or irrelevant content, which will appear both unhelpful and unprofessional.

Strive to provide your followers with social media posts that provide value, which can encourage confidence in your brand. Producing compelling social media posts on a regular basis will also encourage more followers to click on your links and engage with your promotional posts. What’s more, you will not have to pay to grow your online audience, you will simply need to invest your time and effort into an effective social media strategy.

Once you start to see a healthy return for your time and hard work, you can then consider boosting your marketing budget to create Facebook, Twitter and Instagram promotional posts, which can be customized to suit your budget and target audience.

Conclusion

Don’t waste your budget on an expensive marketing budget to grow your small business. You might not have the marketing budget of your larger competitors, but a creative strategy could help you compete with your industry rivals, regardless of their size. Look for opportunities to grow your business online, and take advantage of the many free tools available, which could help your company grow from strength to strength.

Making Money on the Internet

Many Internet users try to make some money online. While there are many ways to make money online, it is important to learn to avoid so-called “get rich” scams. There are a lot of places over the Internet where you can find promises of making $200 per hour doing very easy tasks: filling out surveys, data entry, participating in multi-level marketing etc. My advice is, do not believe such claims. If they were true, everyone would quit their jobs and start earning money like that. Rather focus your efforts on programs will offer a steady way to earn money. ‘Get rich’ scams prey on our greed so watch out for them and have realistic expectations. In the beginning it might be difficult for you to discern which making money online techniques are genuine or not. However, with the time passing by and with your growing experience, you will have more expertise to be able to say which money making offers are a scam. There are opportunities on the Internet that will allow you to make fast and easy money, but they might not last very long. As a result, they not bring you a lot of money at all. Also be careful not to give your credit card details to anybody on the Internet. Even if for some reason you will not get paid for the job you did, it will only result in wasted time, but not money.

Success Or Stagnation? It’s All Up To You!

No business owner wants the company to become stagnant. Yet in many cases, this is exactly what happens. Fortunately, there are many steps an entrepreneur or corporate leader can take to push the organization past stagnation and back into the realm of success. Here are three of them:

1. Utilize Health And Safety Strategies.

One of the worst things that can happen to a business is finding that the company is somehow violating health and safety regulations. This reality can create scandals while also endangering the lives of employees and customers. As such, it’s important to implement health and safety strategies that can keep your company in compliance with established rules and regulations. One way to make this happen is by attaining nfpa training services from companies such as Facility Results. Obtaining these services can prevent the business owner from experiencing potential fines and safety hazards.

2. Market More Effectively.

Most business owners realize that marketing plays an integral role in helping the company attain more influence and authority. Yet not all corporate leaders recognize the importance of regularly analyzing and optimizing their current advertising strategies. Don’t forget to take this important step. Doing so will empower you to ensure that more people find out about your brand and share it with others. Note that the “one size fits all” modality is not applicable in the world of advertising. Rather, business owners should concentrate on identifying which marketing techniques will empower them to really connect with their audiences in a dynamic manner that metabolizes the relationship-building process.

3. Fight Stress.

Building a business is an incredibly stressful task, and this is why corporate leaders who are determined to really put their heart into it need to identify strategies that will help them combat anxiety. Note that there are hundreds and hundreds of anxiety reduction techniques available, and this means that every business owner should be able to locate at least two or three that are effective. An example would be yoga. Business owners who love physical activity may find that the yoking of mind and body that transpires with this form of exercise really helps them restore and maintain their mental and physical equilibrium.

Choose Success Now!

Three strategies you can implement to push your business into a deeper dimension of success include utilizing health and safety strategies, marketing more effectively, and fighting stress. Start using these success strategies now so you can begin attaining incredible results!

Buying Wholesale Supplies

Once a retail business is in a position of getting regular sales, it is worth looking at buying in bulk from a wholesale supplier. This will give a variety of benefits including the ability to buy the low-cost stock and increase the profit margin. But, it is usually best to wait until an e-commerce business is making money, because the wholesale lots often have a minimum order amount with goods costing at least $150 of more.

Here are three useful tips to consider when buying supplies in bulk:

Compare prices

The first step to buy wholesale is to research the different online sites and compare the cost of the different items. It is great to find a site that gives heavy discounts on the goods you trade in, but it is still worth the effort to shop around to find the most competitive deals to match the needs. A further key consideration is the wholesale minimums. This relates to the volume of stock to be purchased per single order. This can vary significantly with the different wholesalers, so it is important to find something that trades in a volume that is within your budget.

Website’s legitimacy

It is essential to check a particular wholesaler is entirely legitimate before committing to make an order. Look for reviews or recommendations from other buyers. This will let you know the quality of delivery service and the goods. Only use the sites that are highly rated and get a lot of positive feedback from fellow buyers. Without doing the proper checks there is the risk of signing up a fake e-commerce site that looks fully functioning, but doesn’t actually ship goods and you lose your hard-earned cash.

Do your calculations

Before making a large order of wholesale materials, it makes sense to do your calculations to ensure you are in a position to increase your profit potential. While it can help to improve the actual profit margin, there isn’t likely to be much benefit if you are only making minimal sales. In most cases it is practical to wait for a business to make steady sales before ordering a large volume of supplies.

While some may think it is best to order in bulk goods from the start, there could be problems further down the line if they don’t sell as expected. This is certain to cause more difficulties for those who bought on credit and may have interest accumulating. Also, if buying time sensitive items like seasonal fashion, you have a further need to conduct the timely business.

Reasons to Consider Starting Your Own Business

Your current job might leave you feeling a bit unfulfilled. If this is the case, you are certainly not alone. Millions of other people are in the same boat you are in. However, very few of them actually do anything about it. You deserve more out of life than getting out of bed and going to a job each day that you despise. One solution to this problem would be to start your own business. This might be something you have never given serious consideration to. However, there are quite a few advantages to doing it. Here are just a few of them.

1. You will finally be able to control your own destiny.

Running your own business will mean that you will not have other people determining your future. You will have the power to make our own dreams come true if you work hard enough. You will never again have to worry about being passed up for a promotion. You will not have to deal with your hard work not being appreciated. You will make the decisions that will shape your future without needing to get input from anyone else.

2. You will become your own boss.

This is one of the biggest reasons why people want to start their own business. Many people are sick and tired of having to deal with a ruthless boss on a daily basis. Running your own business will mean that you will never need to listen to the boss again. automotive franchises are a very popular choice for people who are looking to start their own business. One of the main reasons for this is the fact that there is a large demand for a place where people can go to get their car worked on. This means the people who run this type of business will never have a shortage of customers.

3. You will be able to make your own schedule.

Getting up very early in the morning might not appeal to you anymore. You will be able to decide when you start working each day if you start your own business. You will create the schedule for your business. You will also be able to determine how much vacation time you will be able to take. Basically, you will be able to live a more flexible life because you are in control of everything.

Choosing a Business Coach

You can benefit from a coach no matter which field you work in. The professional will help you understand your business process better, improve your marketing efforts and increase the success rate of your business. Below are a few tips that will help you look for the best business coach.

Recommendations

You may want to ask reliable sources for some recommendations. For instance, you can discuss this matter with your HR advisor, financial planner, banker, accountant or lawyer.

Needs

Consider your needs as well. Actually, these professionals specializes in a host of areas, such as corporate profitability, turbulence tolerance and emotional intelligence, just to name a few.

Interview the candidates

It’s a good idea to interview many coaches in order to increase your chances of looking for the best match. Actually, the decision is important for you to choose the best lawyer and financial advisor. Just stay patient and cautious.

Interview questions

Make a list of common interview questions. The coach should give detailed answers to your questions during the interview. The questions should be related to the professional’s background in business, experience, credentials, coaching style and type of clients, just to name a few.

Get feedback

You may want to let the professional know your situation so you can get feedback from them. When interviewing good coaches, you may want to get early feedback related to your business issues. The coach should be able to let you know how to deal with the issues and solve them.

Working style

Just like a good personal trainer or therapist, a business coach also has his or her own style of coaching. How do they carry out their coaching sessions? Do they use the phone, email or some other medium? How much do they charge for each session? How will give you feedback? The coaching style of the coach should meet your needs.

Get references

You may want to get a list of references from the coach and then contact each of the clients. If the clients are satisfied with their coach, know that the professional is worth a try.

Follow your gut

Good relationships are based on feedback, support, honesty, safety and trust. In the same way, your relationship with the coach should also be based on the things mentioned above. Once you have interviewed the professional, ask yourself how you felt about them during the interview. Was the professional honest with you? Do you think he is the right fit for you? Trust your gut and make your decision accordingly.

Mutual roles

You may want to have a solid understanding of the roles of your coach. A good one will help you develop your capacity and resources in order to respond skillfully, consciously, and appropriately. The professional will guide you so you can make your decision properly.

The Self-Improvement Tips That Help You In Business and in Life

We all want to improve ourselves, but sometimes our motivation to actually get up and make a change doesn’t correspond perfectly with our goals. If you’re feeling frustrated with where you are in life and want to improve yourself, sometimes it can be difficult to pinpoint just where to start.

If you’re ready to improve yourself for the better, then follow these self-improvement tips that will help you not only in business, but in life.

Become An Early Riser

It can’t be a coincidence that some of the world’s most successful people have been early risers. After all, the discipline it takes to get yourself out of bed before dawn lends itself well to helping you to improve in other areas of your life. While it might feel impossible at first to get out of bed at the crack of dawn, you’ll be amazed at how much more productive you become throughout the day.

Put Yourself Back In School

Many of us view school as something finite; as in, we finish high school and college, get our degrees and then we’re done learning. Successful people understand that education is a lifelong endeavor, not something that one can “finish.” There’s always something new to learn, even if you’re a professional in your field. For example, if you’re an engineer, you could benefit from studying new developments in mql machining. If you take time to study and expand your mind, you’ll be amazed by the results.

Become Physically Fit

Most people only feel motivated to begin a fitness regimen when they’re feeling fat or want to shed the pounds. However, there are so many amazing reasons to become physically fit and one’s physical appearance doesn’t even make the top of that list. When you’re physically fit, you’ll be amazed at how much energy you have and how excited you feel about your life. Much of your depression and anxiety is likely to fade away, replaced by a feeling of enthusiasm for what life has to offer.

If you follow these tips, you can make big improvements in both your personal and your professional life. Remember, you should never stop growing and consistently strive to improve.

Family Business

If you belong to one of those families that own a business, you might want to take it over at some point. The question you should ask yourself is whether you want to take over your family business or do you want to start your own business at some point. It will all depend of what you prefer to do. If your family has been doing for years something you find interest in, you might want to become part of it. On the other hand, if you have no interest in your family business whatsoever, I suggest that you do not force yourself to do something you might not like doing. You will never be a good businessman if you decide to do something you do not like doing.

Five Ways to Increase Your Odds of Getting a Business Loan

If you have decided to start your own business, then it’s likely that you will need to get funding at some point to help your new company to expand and grow. When it comes to getting business funding, there are several different options that you can choose from. You may be able to raise the funds yourself, or if your business is experiencing a high rate of success from the very start, then there’s always the option to invest some of your profits back into it. However, in most cases, entrepreneurs find that they need to borrow money from the bank when it comes to getting enough funding for their new company.

Taking out a bank loan can be a very wise investment in your business, since it will give you the funding that you need to focus on maximizing your profits and taking your brand to the next level. However, getting accepted for a business loan isn’t always an easy task. We’ve put together some of the best things that you can do to improve your chances.

#1. Improve Your Credit Score:

If you have a poor personal credit score, then it’s highly unlikely that you will be accepted when it comes to applying for a business loan. If you have borrowed a lot of money in the past and have struggled to repay it all, according to agreements, this will stay on your credit file for a number of years and could get in the way when it comes to applying for a business loan, even if you have managed to repay your debts since.

Bear in mind that most banks and major lenders will carry out a personal credit check on anybody who applies for a business loan, so even if your business is doing well, your own personal credit history could become a hindrance and stop you from getting the funding that you need. If you are struggling with your personal level of credit, then there are several companies which will help you to repair your credit rating and get back on track to increase your chances of getting business funding. Read the review here.

#2. Write a Business Plan:

When taking your business idea to the bank, the best way to maximize your chances of being accepted for funding is to have your plan laid out in as much detail as possible. Bear in mind that when deciding whether or not to offer you funding for your company, the lender will want to know as much information as possible so that they are better able to make an informed decision about making the investment.

The best way to do this is by writing a professional business plan that will give the lender as much detail as possible about what you have done so far with your company and your plans for the next few years when it comes to marketing, growth, profit maximization, and exactly where you are going to be investing the money that you borrow from them, along with plans for repaying it. When a lender can see an informative, thought-through plan of action for how you’ll be using the money, they may be more willing to invest in you.

#3. Opt for a Smaller Bank:

Today, getting a business loan has become increasingly more difficult. If you are trying to borrow money from a larger high street bank, then your chances of being accepted could be seriously slim unless you have a perfect credit history and an extremely detailed business plan. Even then, many entrepreneurs who meet all the criteria for acceptance when it comes to getting business funding are being turned away from larger banks today.

Opting for a smaller, local lender could be the best option when it comes to improving your chances of being accepted for business funding. If you run a local business, then this is an ideal option since a local financial institution will be more in tune with the needs of the local community and often more inclined to invest in new local communities to strengthen the economy in the area.

#4. Get Expert Advice:

If you are going to be asking a lender for a large amount of money to help fund the growth and expansion of your business, then the last thing that you want to do is go in unprepared. It will pay off to invest in some expert advice to help make sure that you are properly organized and ready to apply for business funding; going in without being sure if you have everything in order could mean that your funding is delayed, or that your application is rejected, meaning that you’ll need to start the whole process again – something that could significantly affect your ability to apply for funding elsewhere, too.

Before you begin, it’s a good idea to speak to a financial advisor or other business expert who can offer advice and guidance on the best steps to take to improve your chances of getting the funding that you need.

#5. Explore Alternative Options:

Unfortunately, there’s no way to completely guarantee that you’ll be able to get a business loan to help with funding your business idea. Because of this, it’s a good idea to have a list of alternative options to consider in the case of having your application rejected. It’s ideal to explore your options sooner rather than later, so that you can quickly go to your ‘plan B’ if necessary.

Thankfully, there are various different options to explore when it comes to alternative business funding, which are becoming more and more popular. Crowdfunding, for example, is an increasingly popular option which allows members of the public to invest in your business. Or, you might want to consider pitching your idea to an angel investor, who may also be able to offer advice and support to boost your business success.

Getting funding for your business is no easy task, but with the right plan, you can maximize your chances of having your application accepted.