Will Your Business Be Around Next Year?

If you are a business owner, you have to consider how the economy and other factors will impact the amount of business you have each year. You might even have to wonder if a business like your own will be around next year. That may sound like an alarmist thing to say, but the reality is that you do have to pay attention to possibilities like that.

Team Nimbus is a business consulting firm that you might want to contact if you are concerned with threats to your business. They can help work with you to come up with plans for what to do to solve various issues that you could be facing.

Consultants look at the numbers and facts revolving around your company. They look at what the competition is doing, and how you might respond to their moves. Essentially, they look at every aspect of where your business stands in its industry.

The Internet has disrupted countless industries at this point. It is something that keeps up countless business owners at night. They worry that an online company can undercut them in terms of overhead. This is a legitimate concern, but it is not one that business owners simply have to fret about. Consultants can bring about the ingredients that one needs to fight back against those who might creep into your market via the Internet. They can help you to create your own website if that seems like the best plan for your company. Additionally, they may simply help you to create your own answer to what those on the Internet are doing.

It is the best time of year to think about your business in the future. As we approach a new year, it is entirely possible for us to reset our mindset and hopefully come up with some better solutions for our company in the future.

How to Acquire More Clients

Running a business is tough for anyone to do. There are many business owners who are excited about growing their company in the years ahead. Acquiring new clients is one of the most important aspects of running a business. For many business owners, it is hard to find the time to market to new clients.
This is the type of activity that should always be a priority. No matter how busy you get as a business owner, you need to find time to market to customers.

Know Your Customers
One of the most important aspects of marketing is knowing your customers. There are some small business owners who have never taken the time to get to know their clients. One of the best ways to get more information about customers is to ask them to take a survey. Many companies will offer an incentive for customers to take a survey in order to get some basic information about them.
Once you understand your customers better, you will be able to market to them in an effective way. Some small businesses spend money every month on marketing with no tangible results. With a solid client acquisition process, you can start to grow your business more effectively.

Online Marketing
Finding new customers is not easy. Many companies struggle to find customers in their local area for numerous reasons. Depending on the product or service offered, you can have more success with online marketing than traditional marketing options. If you have a website, you need to produce quality content that is going to drive website traffic.
Once you have higher website traffic, you will see more sales from your online store. This is one of the best ways to improve your business through content marketing. A solid client acquisition process must include an online strategy in the economy today. There are simply too many opportunities online to completely neglect this area of a business.

The 3 Things Seven Figure Businesses Did to Become Seven Figure Businesses

Half of all business owners are content with the profits that they are earning now. The other half are focused on making more money and gaining more customers. The businesses that are earning over $100,000 a year want to learn how to pass the million dollar mark. Here are 3 tips that seven figure businesses can give to five and six figure businesses.

1. Balance Skills with Dreams
Skills are tasks that you can do exceptionally well. Dreams are ideas that you are genuinely interested in and want to do. Although not all dreams are realistic, some can be turned into realistic goals. Choose an area of business that you have dreamed about pursuing and then develop the skills to get started.

2. Watch Marketplace Trends
Million dollar business owners do not get to that point by making assumptions. They do not assume that a certain product or niche is guaranteed to sell millions of dollars in products. They watch every consumer trend that happens in the marketplace and base their decisions on actions.
Many companies watch the activities that occur within their own marketplace. They use analytics software to keep track of their customers’ buying habits in the past and present. They do not increase sales by assuming that certain customers will buy certain products.

3. Target Unique Populations
Look for under-served populations to target in your sales campaign. Some businesses thrive just by targeting one or two types of customers like the elderly or children. If you’re selling auto products or services, create a plan to target wealthy car enthusiasts instead of the general public. Look for unique individuals who will benefit from using your business.

The work of being a business owner does not stop at choosing your business name and finding the right location. Continue finding more ways to boost your business sales and increase profits. Learn from seven figure businesses that are proven to have succeeded in your industry.

How Do You Really Make Money Playing Golf With Your Friends

Serious business people can also have fun doing something they enjoy, like playing golf, to generate income. Here are a few tips on how to make money with a game of golf.

Generate leads

Recreational activities and sports event are often part of business culture around the globe. Golf is especially popular, as it has universal appeal and is enjoyed by many business people individually and in groups. Taking a prospective client golfing can help to establish a comfortable relationship and encourage the exchange of ideas that may lay the foundation for a new business relationship. Even if a golf buddy does not immediately become a client, he or she might contact you in the future or make a valuable referral to other prospective clients.

Cultivate partnerships

Golfing with industry competitors and associates can lay the groundwork to expand networking opportunities. Casual “shop talk” often leads to enhanced understanding of and appreciation for colleagues who may be suitable partners for future projects and joint ventures. Hours spent together while relaxing and having fun creates an enjoyable environment without pressure or stress where valuable ideas can be discussed.

Support fundraisers

Golf outings are a renowned fundraising opportunity that can prove beneficial in a couple of ways. Companies often sponsor golf leagues or golf teams comprising employees and sometimes clients to raise money for a charitable community cause. This contributes to a positive public image and keeps the company in the forefront of people’s minds so they are likely to contact the company when that service is needed. Another fundraising benefit comes from meeting other company teams and getting to know those who may become allies in future fundraising efforts or in general business associations.

It is not always easy to have fun on the job, but golf is an activity that gets people excited and often enhances professional relationships.

Using LinkedIn To Get More Sales

LinkedIn is a professional social network that people use to try to connect with others within their area of interests. It is actually a very popular way for people to find out about potential job openings or simply about what other people in their work field are doing.
There are ways to use this social network to boost your own sales. You can treat it as your own personal place to make more sales and build up your customer base. You may just be surprised by how many people out there are clamoring for the products you want to pitch to them.

Leave The Cold Calling Behind
One of the nicest aspects of using LinkedIn for your own business purposes is that you do not have to make those dreadful cold calls anymore. For one thing, most people do not answer calls from numbers they do not recognize anymore. They just send it to voicemail or ignore it completely. Besides that, even the people you do get to answer are often not interested in what you are pitching to them.
This is yet another reason to love LinkedIn. They help you connect just to those who will likely have a legitimate interest in what you are serving up to them. They want to hear about your products because you have looked to see who you can best target for your message.

Figure Out What Other Companies Are Doing
Yet another way to boost your sales is to look at what the competition is doing to figure out what you could do better as well. Customers are out there, and everyone is competing against you. If you allow the competition to continue to simply do whatever they want to do with customers, you will just continue to fall behind. Learn what your competitors are doing so that you are a step ahead of them.

Make Professional Connections
The final benefit of LinkedIn is to connect with others as professional contacts within your industry. Just like individuals use LinkedIn to make new connections, so too can you use it to make business connections that will help expand your business empire.

How to Hire Your First Employee

When running a business, one of the most important aspects of having success is the ability to hire qualified workers. There are many business owners who wrongly assume that hiring workers is an easy process. However, in the current economic climate, hiring quality workers is difficult. There are many companies that are having trouble filling open positions.
When hiring your first employee, you need to think about the future of your business. Hiring your first employee can be a difficult process for many reasons. When hiring someone, you need to think about the future culture of your company. This is one of the most critical elements of success when growing a company.

Work Experience
One of the most important variables to consider in a job candidate is applicable work experience in the field. However, work experience should not be required to fill an open position. Many qualified and motivated workers have work experience in other industries.
Some business owners wrongly assume that the most experienced worker is also the best worker. This is the wrong approach to take. You need to look at how well the person would fit into the company’s future. If you want to grow the company rapidly, you are going to hire additional employees in the future. It is more important to get someone who is a fit with your culture than to get someone who has experience.

Attitude
There are several personal attributes that you simply cannot teach to others. One of these attributes is a positive attitude. There are many people who have a bad attitude and it impacts their work performance. This is something that you should be able to find at the initial interview stage. You should ask the prospective employee about their goals for the future. During this time, you should be able to assess how positive they are about life. No one wants to work with an employee who is constantly negative.
Hiring an employee is a critical step for any company. If you want to run a successful business, you need to spend an appropriate amount of time in the process.

Not Having Enough Time is the Symptom, Rather than the Cause of Your Business Challenges

Being a business owner is an exciting experience for both budding and thriving entrepreneurs. Sometimes, however, there are a few bumps on the road to success. Whether you feel that you lack time to invest in your business or you feel that you invest too much time for it to not be thriving, there are a few factors that could help you understand ways your business could improve.

Poor Scheduling
What’s your schedule like? Do you take time each month to schedule your monthly, weekly, and daily business goals? Not having a written plan could hinder your business from growing as quickly as you’d like.
A set schedule and success go hand in hand. When you’re making a schedule, you’re deciding your work hours. Remember that no work could mean no pay. Allow yourself time for your family, yourself, and other things that matter, but set aside strict times that are dedicated solely to growing your business, and stick to that schedule religiously.

Poor Planning
Perhaps you do schedule time to work your business. If you still feel that you aren’t getting much accomplished, chances are you didn’t set attainable business goals.
Written goals remind us of our tasks for the day. Simply put, when you’re writing your goals, you are writing a to-do list. It is a good idea to write out goals for the entire month. If you don’t feel that you can think that far ahead, however, you can start by writing weekly goals. Weekly goals are especially helpful if your business is new and hasn’t yet started booming.

Poor Execution
So you’ve written out a work schedule as well as tasks to accomplish daily. However, business still isn’t progressing as well as it could. When you’ve perfected the strategies of scheduling and planning, the next factor to look at is execution.
When you could meet your goals a little better, you have to discover ways that will help you and your staff work a little smarter. Ensure that everyone’s task is tailored to his particular skill set, implement steps that will make every worker more efficient, and learn easier, quicker of completing tasks. Taking these steps makes for a more efficient workforce, an easier workload, and will probably leave you with more time to brainstorm new business activities.

Not having enough time to work your business isn’t always the problem. Sometimes, we all just have to learn how to manage our time, our staff, or our daily goals. Proper execution, coupled with scheduling and planning, will help you to be well on your way to owning a more thriving business.

Learning from Companies on the Inc 5000 List

When running a company, one of the best ways to have success in the future is to emulate successful companies. There are many examples of companies that have done a great job of growing sales and profits over the years. There are numerous things that business owners can learn from companies that are growing rapidly. As a general rule, most of these companies share similar traits.

Rapid Growth
If you want to have success as a business owner, you need to grow your company rapidly. There are many people who struggle to grow their company once it gets started. You need to have a vision for how your company is going to look many years from now. Some business owners wrongly assume that the business will grow over time no matter what. You have to be intentional about your business plans if you want to have success in this area.

Financial Planning
Some business owners take on a lot of debt when they get started. Although some business debt is not a bad thing, there are many people who end up getting stuck with lots of debt. This is a major issue for various reasons.
High debt levels tend to restrict your ability to grow in the future. A lack of cash flow is one of the biggest financial issues that any business leader has to deal with. In addition, high debt levels can increase your stress. No one wants to worry about making debt payments because they borrowed too much money at one time. If you decide to borrow money, make sure to have a plan to pay the loans back in a timely manner.

Focus on Goals
Another common characteristic of successful business leaders is that they are always focused on their goals. If you do not have goals for your business, you are going to have a tough time having success in any area. Before the new year, write down some measurable goals that you want to accomplish with your company and will probably leave you with more time to brainstorm new business activities.
Not having enough time to work your business isn’t always the problem. Sometimes, we all just have to learn how to manage our time, our staff, or our daily goals. Proper execution, coupled with scheduling and planning, will help you to be well on your way to owning a more thriving business.

The One Thing You Absolutely Must Change For Your Business For This Year

The dawning of a new year is upon us, and this is a critical time when many people review what they have been doing in their personal and business lives. They take stock of how things have been going, and how they can stand to improve. It is a good idea to go through this mental exercise from time to time to ensure that you are not overlooking critical details that could bring about failure.

One thing worth changing this year in your business if you can change nothing else is how you conduct certain processes. That is to say that you have to take a look around and see if you are doing things because they are actually the most efficient, or simply the most comfortable.

A lot of people are afraid of change deep down. They don’t particularly like to admit it, but it does scare them a little to consider what it might mean if they altered this process or that to make room for something new. Every time someone thinks like that, they are costing their business money and productivity.

Survey the business around you and see if there are areas in which you could stand to improve. For example, you might want to outsource your payroll department or cut back on the number of corporate outings. Things big and small can all add up to the way that the books are balanced at the end of the quarter and the end of the year. You may be flushing money down the drain because you are unwilling to leave your comfort zone even a little bit.

There is only so much time in every day, so why waste it doing things the old way when they are not working out for you as well as you would have hoped?

Consider straightening up your back and making so long overdue changes to reshape your business in a way that makes it as efficient as possible.

Why Time Management Is Critical To A Small Business Person

Time managementAs a small business owner you’ve undoubtedly been in a position where it feels like there aren’t enough hours in a day. That’s where time management comes into play.

Great time management skills are essential to running a small business. A larger corporation may have the luxury of time, but not practicing sound time management can make or break small businesses.

Here are some reasons time management is vital.

Do More With Less Effort

It may sound counter-productive – accomplishing more with less energy expended – but by taking control of your time your focus improves. With increased focus comes better efficiency as you aren’t easily distracted, and you’re better able to maintain momentum. You’ll complete tasks more quickly, and the day will seem to fly by.

Time Is Limited

We each have the same amount of time available to us each day – 24 hours. To be more effective, you have to find a way to better manage this valuable, but limited, resource. Prioritizing and putting first things first is one way to address how you’re going to fill those hours.

Better Decision Making

When you’re pressed for time and have to make a decision quickly you’re more apt to come up with a quick answer before having thought the issue through. But when you’ve managed your time, you’re less stressed and more able to make decisions clearly without feeling like you must rush through the process.

Reduce Stress

The stress of always feeling pressed for time is very real and a potential health hazard. Moreover, it only increases if another (often inevitable) task is put on your plate as you’re rushing to finish the one you’re currently on. But when you’ve managed your time, you don’t have to subject yourself to that level of stress. You’ll give yourself enough time to meet a deadline without worrying about having to complete it in the last minute.

Dealing With Procrastination/Interruptions

Not practicing good time management on a daily basis leads to procrastination and finding other reasons to put off an important task. Additionally, you come to accept that interruptions are just part of the day, rather than something that can be greatly reduced by setting aside time for each task.

Taking Advantage of Opportunities

New and exciting opportunities will inevitably arise for your small business as you move forward. The key is being able to take the time to take advantage of them. You’ll also have the time to learn more about your industry and keep better track of what your competitors are doing.

Free Time Is Crucial

It’s important to unwind, but finding time for it can be difficult when you’ve poorly managed your time. Having good time management skills will help you find that time. Yes, you’re still busy, but you’re getting more done with the time you have.