A business plan is a tool that will help you get to your entrepreneurial destination within the timeframe you set or even at a faster pace. It provides you with a map and directions on how to get there. Not everyone may be able to read a map, as much as not many may find a business plan useful. Maybe not in all circumstances, but in major crossroads of your entrepreneurial journey, it is advantageous to have something that you can refer to that can help you stay focused on your goals.
Doing business in different parts of the globe or having team members in various locations may require a lot of communication to ensure that things go well. In this age of modern technology, being physically apart is not a hindrance in doing business transactions or official meetings. Within EO and among EO members, online meetings are also common and widely used.
Surfing is not for the faint-hearted, and so is the entrepreneurial journey. It takes skills, practice, determination and passion to ride the waves of tribulations. One can brave the perils of surfing or entrepreneurship through persistence because perseverance is necessary to achieve the needed to accomplish.
If you are a new entrepreneur or have kept to yourself all these years, it’s probably time to go out of your comfort zone, huddle with other entrepreneurs and consider joining business organisations. There are pros and cons to becoming part of a group. Membership may entail investing your time, talent and treasure into the group, but the rewards can be tremendous if you use it to your full advantage.
Rewards programs are now uncommon as more and more businesses in various industries get into this method. From the travel industry to hospitality, dining, finance and retail, many companies offer special privileges to their clientele through a rewards program.
Marketing efforts can only be as effective as your ability to bring a sales transaction into a successful close. Whether you are selling an actual product, a concept or a service, being able to convince your prospect is a skill that can be learned and practised. Many become sharp at selling as they get more experience at it.
Not many may adhere to the thought of leaving their workspace and be with several other people, mostly strangers, to listen to a speaker. Others may prefer to read books, watch videos or listen to podcasts in the comforts of their offices or homes rather than going to a venue, which may be a bit intimidating. However, there is a great benefit in being in that space where you absorb the energy of experts and other like-minded individuals.
There are times that your marketing ideas hit a slump when your brand appears ordinary and your activities become a routine. It’s always good to put variety in your marketing strategies. You can brainstorm with your team to get various insights, but you still need to widen your horizon to find inspiration from things within and outside your workplace.
One of the great resources of information for entrepreneurs is YouTube. There are plenty of things that can be found in this platform, varying from several genres and interests. To help you find amazing content, we have listed down 12 YouTube channels that you can follow and watch their videos that are rich in insights and learnings.
Running a business entails interaction and engagement with different people and various players in the industry. One major component in the entrepreneurial journey is negotiating for your business. You do it when hiring or retaining a staff member, purchasing materials, contracting suppliers, getting into a partnership or marketing and selling your product or services.
Starting a business entails a lot of risks involved. You put into it your financial resources as well as your time, ideas and energy. The costs are high, and the risks are great. There is a huge probability of failure if you do not carefully plan how to build your venture, while your success rate may be substantial if you do the necessary preparations.
Sharp & Carter is in the business of recruiting key people, and Partner and Owner Anthony Holdstock, who bought into the business in 2013, talks about how they apply their hiring principles to the firm. From seven people in Melbourne, it grew to 120 people across Melbourne, Sydney, and Brisbane to become an established specialist recruitment firm in Australia.
Franchising is one of the business models that aspiring entrepreneurs explore when they think of entering the business world. There is already a system in place and a brand that is recognised by customers. Although there are many success stories on franchising, there are also futile ones. Before you go into franchising, you have to weigh first the pros and cons and their possible effects on you.
If you are a startup or a small enterprise and you want to sell your products using the online platform, you can promote them on your site and provide an option for site visitors to purchase them there. However, you can move your products faster if you make them available in top online shopping sites.
Getting a medical degree does not automatically makes one work in hospitals or pharmaceutical companies. It may be a specialised field, but there’s plenty of opportunities for entrepreneurship in this business space. There is a door in this industry that can lead you to the entrepreneurial journey.
The beginning of the 21st century saw the rise of podcasts as a new way of sharing information to the public. It broadcasts content and distributes them as audio files using apps or the internet. Entrepreneurs saw the value of podcasts in increasing their knowledge as they can conveniently listen to them anytime they want.
Entrepreneurship is like gardening where you plant and nurture your business so that it grows and bears fruit. It takes a lot of labour, notwithstanding external factors, to achieve the result you envision. Nevertheless, you till the ground, water the plant and care for it until it yields its produce for a good harvest.
Speed and efficiency are necessary ingredients in running a business. You need tools that will help you fast track your operations effectively, sort out your internal structure, keep up with the demands of your clientele, compete well in your industry, and protect your venture from possible threats.
More and more startups are on the rise, and there are industries where new businesses thrive. Such industries provide an environment that allows recent players room for growth and opportunities. Emerging industries set the stage for fresh ideas and concepts while established ones experience a changing landscape through disruptive technology.
Keeping track of one’s finances is a primary concern of every entrepreneur because cash flow is an integral part of any business. A yearly budget needs to be drawn out to forecast and assess the financial aspect of your business more efficiently.