A few days ago, I finally followed through on what I have been meaning to do for a very long time....form an LLC to expand my business of websites/blogs. I have called it ATA Consulting LLC. The reason I have given this name is because 'Consulting' is a very broad category and thats why I'm not limited to just websites and blogs.
Below is a 6 step process to building a successful business.
1. Start Smart 2. Plan Ahead 3. Set up Systems 4. Seek out Sales 5. Aim for Growth 6. Leverage Opportunities
1. Start Smart. Identify a niche. Don't compete to be the lowest cost provider. Look for what makes your product or service unique and adds a special value for the client and charge for that value. Every business has many facets. Start with what you know and like; start a business that has meaning to you. Keep in mind that we don't know what the future holds, many of the jobs and businesses of tomorrow don't exist today. You can create your own success.
Now is the time to dream. To start smart, you should like the idea of the business. The way to earn a good income and build wealth is by serving clients well, making their life better in some way-it's more than filling a need in the marketplace. To succeed you want to test the idea to make sure your potential clients like the idea too. Test your ideas.
2. Plan Ahead. People often ask me why bother with a business plan? Look at the lottery as an example. You may get lucky and get the winning ticket, but the odds are against you when you rely on random chance. I'm a risk taker...but not that much, minimize the risk of going into business and maximize your potential for success. Take the time to write a plan of how you get from point A to point B. A plan gives you a clear future focus and increases your chances of success.
The first rule of a start-up is put some of your own money in the business. As the owner you must be willing to capitalize the business. The second rule is put as little of your own money as possible in the business. Prepare your plan and look for funding for your business from multiple sources, which can include a business loan or business line of credit.
Don't go it alone. Plan ahead now to build your team. Your team may include a CPA and an attorney that you work with as needed. Add a mentor from your industry and get a SCORE mentor to help you plan for success. No one has all the answers. You get more ideas and information by building a success, support team that can help you plan ahead.
3. Set up Systems. The most basic system every business should have is a good financial system. Ask yourself how am I going to generate enough income to support myself and my family. Begin here. Put together a personal budget, so you know what it costs you to live. Now, you can move on to the business budget and sales planning, so you can see how many sales you need to break even and make a profit. The start-up expense plan, operating budget and your accounting software are vital to your success.
4. Seek out Sales. The daunting question is how do you go about seeking out your first sale. Recognize that since you don't have a big ad budget to be seen by everyone, you need to target a niche and get connected in your market community, be it local, regional or national. You need other people selling for you-not employees-goodwill referrals. Get out and talk to as many people as you can. Join organizations that would have clients for your product or service. Become a visible part of your market, and then ask for the sale. You begin the sales process with people that you know. Yes, it's okay to start with friends and family as your first customers, and then broaden from there.
5. Aim for Growth. The basic tenant of creating a company is that you own the company. You are not just creating a job for yourself. It's less risk and less investment to get a job. Building a business is creating a company that is more than the job itself. Think about the future. How large do you want the company to be in terms of sales, net profit and employees? Your answer to each of these questions will influence how you grow. There are varying costs and profits associated with growth. It's important to make a deliberate choice early about how you want to grow your company.
6. Leverage Opportunities. Good luck. Good fortune. Good timing. All play a part in business. As a business owner, be very clear about your core focus for the business and how it serves clients. Your core business is what pays the bills. Then, as an entrepreneur you are about opportunity. When you see a potential opportunity or stroke of luck measure it against your core business focus. Good fortune is great, when it matches your vision for the business. Always consider if a good opportunity is the right fit for your business. If something looks great, but it's not in sync with your long-term plan and budget, think carefully before committing your company's resources.
Tushar is the author of 2 blogs. http://www.everythingfiannceblog.com http://investmoneyinindia.com
Do small town businesses really need a website?
In today?s world a business having a website is no longer a luxury, it?s a necessity, even if it is in a small town like Spokane wa. Spokane web design is something that many people have stayed away from. Now more than ever people are starting to see the need, even in small towns. A website should be more than just a set of colorful pages attached to an Internet address. It should be informative as well as easy to use. If your customers can?t figure out how to use your site, it won?t do you much good to have one. Everyday there are more and more newcomers to the internet, and your small town site, needs to be more user friendly than ever. Your website should allow you to promote your business both locally and internationally, while still ha...
Fantasy Lingerie Parties Are More Than Just Nurse Uniforms
Nurse uniforms are perhaps the best known fantasy lingerie. They are easy to find and fairly inexpensive. Nurse uniforms come in a wide variety of styles, some of which are perfect for Halloween parties and other get-togethers, while others are suitable only for the bedroom. However, there is an entire world of fantasy lingerie with which you may be less familiar. To broaden your knowledge, why not gather your girlfriends together for a fantasy lingerie party? Here is what you need to know to throw a bash your friends are not likely to forget.
How To Use Accessories For That Warm Western Home Decorating Look
Accessories are to your interior design theme what jewelry is to an outfit, and your Western home decorating theme is no exception. In keeping with the look of a western ranch, you want to choose ruggid and outdoorsy items which provide a rustic, natural charm. When shopping to compliment your Western theme, you should use decorative items such as pillows, artwork and knick knacks.
SEO Works For Small Businesses, Too
The major challenge of search engine optimization (SEO) for small business owners is that the rules change often. Although some small business owners may have a basic understanding of SEO techniques, most do not have the time to stay on top of current trends. The result is that most small business websites are either totally unoptimized for today's search engines or they have some optimiziation using oldand outdated steps. In this article, I will share some website optimization tips that are helpful to most websites, have stood the test of time, and are relatively simple to implement.
And A Bag to Match: New "Designed for Dell" Line Offers Colorful Accessories for Personalizing Hi-Def Lifestyles -- Backpacks, Computer Sleeves, Au
Blending function and fashion, Dell has introduced Designed for Dell, a line of bags and accessories that adds style and flair to the personal computing experience. The inaugural selection of backpacks, computer sleeves, audio devices, mice and hard drives is distinguished by color, fit and finish that complement Dell? PCs, like the new Studio laptops. The accessory portfolio incorporates subtle design elements from the PC to create an integrated style.
Shopping For Digital Camera Accessories?
You Can Have Great Fun Shopping For Accessories To Your Digital Camera.
Mini System - Small In Size But Big In Performance
If you are a music buff or simply enjoy music, chances are you are already in possession of some sort of a music system Gone are the days when we had to laboriously wind up the gramophone or put the needle on the exact spot on the record-player and when we were traveling we had to be content with a good old portable radio
Small Businesses Produce Big Returns Using Video Online
Small businesses can benefit from the use of video online in big ways, but have been slow to adopt video because clear, simple information on when, where, why, what and how to do it right have been missing. A new website and meeting series aim to fill the void.
Mailing List Service for Small Businesses Proves Highly Success
Lookupbook Publishing, Inc. announced that its online mailing list service for small businesses is proving highly successful.
The Magic of Thinking Small
Hey!Many of you might disagree and I'm prepared for that.Many 'guru's' might say "Mike, you're wrong.