Month: December 2014
Market research is one of the most important things you can do when starting your own company. It's imperative that you know who you're selling to before launching your organization so you can focus your messaging exclusively on those who will buy your products and services. To do that you'll need to know how to research your target market.
A recent Entrepreneur
You may think your business idea is great, but ultimately it doesn't matter what you think. If you're the only one who is interested in whatever product or service you envision providing at your company, you're not going to succeed. You should only start a company if there is a market for your idea. The question becomes, how do you determine if there's a market? The staff... Read More
Earlier this month, The Guardian published a number of things any entrepreneur should think about when starting their own company. While the process as a whole can be intimidating, making sure these areas are in order can go a long way towards alleviating risk and ensuring the success of your organization.
The list is as follows:
Registration: This involv... Read More
Understanding the difference between goals, objectives, strategy and tactics can help you start your business
Throwing around terms like goals and objectives as if they were interchangeable is relatively harmless in casual conversation, but when constructing a business plan it's crucial that you identify the key differences between the two, and any other seemingly similar terms, because doing so will help you create a stronger, more manageable business plan.
Four terms that are ofte... Read More
You start your own company because you have a great idea and you just know it will make you rich. You are excited about this idea. In fact, you are so excited you don't know when to stop yourself and think strategically about the decisions you have to make as a business owner.
This point was made in a recent Forbes article that discusses the enthusiastic nature of entrepreneurs. T... Read More
As young children, we don't start running around before we learn to crawl. We follow a gradual process that includes crawling, standing up and moving slowly before we develop the motor skills necessary for regular movement. We don't start conversations with people before learning the fundamentals of sound and understand how to put words together. At our youngest age, we understand ... Read More
There's an old adage that children make decisions with their heart and adults make decisions with their mind. The point is that as you grow older you have to decide what's sensible, which may require you to sacrifice things you care about. There may be some validity to this, although some have debated it. The phrase "Just follow your heart" is popular among those giving a... Read More
The purpose of every small business is to grow, at least early on in the company's lifetime. Growth equals success and businesses that grow early on often put themselves in position for long-term viability. But if one were to look at the growth of the most successful companies' early days, they wouldn't see a straight line trending up. There would be peaks and valleys. The gro... Read More
As the old adage goes, if you risk nothing, you gain nothing. It's hard to get anywhere in life without taking a chance, and those who play everything conservatively are probably going to have a fairly low ceiling in their lives. It was incredibly risky for Mark Zuckerberg to drop out of Harvard and concentrate his efforts on expanding Facebook, and today he's a multi-billionaire. ... Read More
Ask anyone who works the grind of a regular daily 9-5 job and they will probably tell you one of their biggest gripes is that they feel sheltered from the outside world. If you're in an office for 40 hours a week and spend another 10 hours a so each week commuting to and from work, you tend to miss some things going on in the world around you. Sometimes, you might want to see what'... Read More