Category Archives: Business

Things That Make Entrepreneurs Fail

Being a successful entrepreneur is not easy. Aside from tough competition in the market, it is hard to stay focus and unwavering. Challenges and obstacles seems endless because you face one problem after another. It is true that running your own business is promising and the benefit is rewarding. However, it is not a flower path. It is not for the weak as well. Lots of entrepreneurs fail in their attempt to grow a successful business. It requires dedication and other sacrifices. It sound so daunting but if you are already afraid now, you are not going to survive later. 

Find out things that can make you a failed entrepreneur

Being entrepreneur doesn’t require you to be wealthy. There are other things that will contribute to your success. Financial resources are important yes, but other things such as problem-solving skills, leadership, time management, and others which are as crucial. The most challenging phase is the first two year. According to Forbes, 8 out of 10 fail within that period. So what most likely to make entrepreneur fail in running their own business?

Things That Make Entrepreneurs Fail

Poor planning

This is the most common thing that makes entrepreneurs fail in working on their business. Running your own business from scratch means you are the boss yet you still have to do other responsibilities instead of sitting pretty. There are many things on the plate that can make you feel overwhelmed. You have to deal with the market, accounting, customers, taxes, and many more while being stress managing your team. Thus, failure to plan will result in disaster. Planning doesn’t guarantee your business to be successful. However, it can help you reach success smoothly. Business plan is like a map that can guide you to reach your success. Successful business is gained via well execution of a well-thought-out plan. 

Poor time management

This is important factor in business because you won’t get nowhere if you keep being left behind. It doesn’t mean you should run your business in a rush. However, time management is about how you make time as effective as possible. No matter what your profession, you only have 24 hour a day. That’s why time is the greatest asset. You won’t get it back once you waste it. To make time as effective as possible, you need to know how to prioritize every task. In addition, always say no to procrastination because it is your worst enemy. Try to create system that can help automate your everyday tasks. 

Read More: 4 Ways On How to Protect the Business Reputation Online

Lack of persistence

It is true that entrepreneurship is not for the weak and quitter. Running a business can be tiring. That’s why lots of them end up giving up before reaching anywhere. That’s why it is highly advised by the experts to start a business based off what you are passionate about because it helps in maintaining motivation. Another thing to do to keep your persistence is to focus on your roots. You need your reasons to outweigh your excuse to stay persistent. Keep reminding yourself the reasons of why you are doing what you are doing.

Where To Advertise Your Business Effectively

You need to advertise your products or services if you want to be known and gain more customers. Advertising your business can be done in various ways. One of the most effective ways is via online. When you focus on online advertisement, there are many benefits you can get such as wider range of potential customer, easier access, low cost, and high level of effectivity. Of course, there are also companies who still focus on other strategies such as print advertising, radio, TV direct mail, and many more. They are still relevant until now but online advertising is seen to be more effective and efficient in many ways. 

Advertise your business in the right place

The benefit of online advertising is that it keeps growing. It is one area of marketing that is promising for business especially for small business. Conventional advertising on the other hands are more expensive, as well as time-wasting. Thus, you might as well try online advertising to see if it’s really effective to advertise your business. Here are recommended places to advertise your business online.

Online advertising for business

Google Adwords is one of the most used online advertising. Of course, it is also related to the fact that Google is the main share in the search engine market. It is just right to say that it is the biggest platform to advertise your business effectively. The strategy you can use is Pay Per Click marketing. You will be able to create image, text, or even video based advertisement to target people who search for particular keywords. You can also get more specific by deciding when your ad being displayed. Thus, any cent you spend will be more efficient. Other available options include Display Network, Search Ads, or Remarketing campaign.

Facebook Advertising is also a great place to advertise your business efficiently. Social media is one of the most powerful tools to build connection and engagement worldwide. You can also target particular potential customers effectively using social media. Thus, Facebook Advertising is effective especially for small business. Basically, it is quite similar with Pay Per Click Advertising. However, Facebook Advertising offer more benefits because you can include video and image along the text. The exposure is also higher to a targeted audience for free. User interests and demographic makeups are what Facebook lets you target. 

Read More: Various Marketing Strategy to Start the New Business

LinkedIn Ads is more for professional services industry. If it is what you are getting into now, then this platform is the right place. The best thing about LinkedIn is its ability to serve highly targeted ads to others professionals as well as businesses on LinkedIn. To use the service from this platform, you will need to prepare your budget because the cost is higher. However, it is worth it because you will get to target your ads to specific people. 

There are also other platforms where you can maximize your ads for business effectively such as Instagram, Twitter Advertising, Pinterest Ads, Stumbleupon Ads, and many more. Choose the one that fits your interest and budget to maximize your business advertising. 

Cons of Running a Family Business

Running a family business can be a good idea because it sounds more efficient. You don’t have to go through background check or interviews because you already knew them personally. Working environment will be more comfortable as well because you don’t have to deal with awkward silence whenever you are working together in the same place. However, working together with your family members to run a business also have several disadvantages you need to consider. By weighing the pros and cons, you will be able to decide wisely.

Disadvantages of running business with family members

Running a successful business with family sounds like a dream came true. However, it is not as promising as it looks. Aside from looking for the benefits, you also need to consider the risks and disadvantages of it. Every decision you take has different consequences you need to face. As of now, here are several disadvantages of running a business with family members.

It is true that you will likely to feel more comfortable to work with the people you already knew especially family members. The problem is, thing can go too comfortable at some points which can influence the growth of your business. Your business may end up grow slowly because of the lack of professionalism and deadline to achieve excellence performance.

Another disadvantage of running business with family members is that the challenge of separating business and personal matter. It is easier to blend them and affect each aspect. You may end up bringing your business problem to your personal life and vice versa. This can cause serious rifts between family members. When things get worse, your business will be at risk as well. Business conflicts involving family members tend to take a toll and more persistent.

It can be harder to find fresh ideas because you and your family members have the same perspective. In business, fresh ideas are needed to create innovation that can help the business to grown even more. And more often than not, outsider and non-family members are the ones who can come up with those fresh ideas because they have different backgrounds, perspectives, as well as upbringing.

Read More: Method to Update Your Small Business

Business practices can be more unfair because of minimal system established. The succession of company is usually guaranteed to the next family member in line ignoring the importance of skill and talent. More unqualified or less talented family members may end up with responsibilities they are not capable of to manage with. In return, the business itself can be at risk.

Innovation can be harder to create due to family tradition or common upbringing which promote closed-mindedness. It can intensify the resistance to change. It can be hard to think out of the box. It will also be hard to create clear guidelines when it comes to system and leadership succession. When you work with non-family members in running a business, it doesn’t matter if you lead a team with older members. However, the case can be different when you work with family members.

Leading Your Team to Successful Business

Building a team to reach success in business is one of important elements. However, leading is a challenging thing because you have to have leadership skills and qualities. The team should be built well so every member can contribute to improve business performance.

Leading your team to successful business

There is a proverb saying that if you want to go faster you need to walk alone; if you want to go far, you need to go together. It is the same with running a business. You can go faster by going solo because you can do whatever you want without any intervention. However, it won’t take you too far. Meanwhile, working with a solid team will help you reaching far and make your success last longer.

Habits to in leading your team to success

Running a business with a well-organized team is like a dream. You need to learn how to be an effective leader first. It may take time until you can establish solid, reliable team. It is something you can learn by doing. Here are several habits to help you steer your team into success:

  1. Don’t be a leader that give your team a pain in the neck. Instead of over-controlling, you can delegate their tasks. You can give them a freedom to use their own skills and talents. The point is to get their tasks done. Thus, they don’t have to use your way if they can do it better with the skills they have. Autonomy is better than control because it leads to more engagements and better results.
  2. Be more understanding when your teammates make mistakes. They are human after all. Failing is not the end of the world and your business won’t collapse overnight just by one mistake. Mistakes are part of growth. What you need is to make them realize what went wrong and help encourage them to fix it. It is better because they learn something from the mistake.
  3. Lead by example is common word but not many people truly act on it. However, this is one of the best ingredients if you want the recipe of successful business. Instead of telling your team of what to do, you can give them the example. Then, you can start encouraging them to learn and understand. Furthermore, they will be able to step into their own leadership.
  4. It is important to make effective result of every performance or work done by your team. However, it is also important to facilitate and provide them what they need to complete the task efficiently. If they work under insufficient need, their performance will likely to be lacking. On the other hand, it will boost their performance if you provide what they really need.
  5. Make sure to create positive and fun environment. Your team will perform better if they feel less tense. Sometimes, difficult task and overwhelming deadlines can put your team under stress which affect their performance. Thus, you need to add an element of fun (that doesn’t compromise work ethic) which can help them stay motivated and energized doing their work.

Various Marketing Strategy to Start the New Business

In the beginning when you are starting the new business, it seems to be a new dawn for your career as well as your life. Trust me, I know how it feels. But, without a single marketing strategy, you will only starting it without even a plan on how you are able to accelerating it? That’s amazing!

Starting the new business is easy for most of us, but when we are planning to build it any further—which is that what we should do—some of us will lost their voices and even starting to doubt about what they have been done before.

Different kinds of marketing strategy for new business

Many of us are keep on searching for the new marketing strategies to make the business running well. And through this post, I will remind you about what things you may have forgotten and what you may have been missed before.

Different kinds of marketing strategy for new business

You will read some marketing strategies from someone that have been failing all over again but keep on trying to survive in business. I have realized that what the strategies I was using before are just following what the others have been done.

Unfortunately, some are beneficial for some times and some aren’t where you can even lose precious things in business.

But no matter how bad my experiences were in running a business, I have found some marketing strategies that I keep on using until now and will keep on using them in the future. Yes, I have tested the strategies so you can also do the same. But keep in mind that what works for me will also give the same results for your business. There’s no such guarantee!

Some of the marketing strategies you will need to try may are unusual for you. They may not the new things, but they will mostly recommended by the other popular businessmen. So, here are those:

  1. Make use of digital marketing strategy no matter what. You may have been hearing this for years, but what can i say, this first strategy is keep on used by many businesses in the world and the numbers are increasingly high. If there will be only one thing that is true about doing business on internet, then it would be the digital marketing way. This strategy is make sense and there will be less of “rich in one night” scheme to find or have you found it the otherwise? Let me know about it.
  2. Let your phone contacts know about your new business! It is amazing that people are offering the new products or services on internet to the others that are mostly are the strangers in their life but won’t tell their friends or even family about what they are doing. Is that mean that your business is not that good? Maybe the products aren’t good enough but you still offering them in high price or there is something I have not known about?! how do you know if your phone contacts, the people you are knowing the whole your life don’t need your business offers? Tell them right away! It works for me and could be you, too.
  3. Social media; post about how your business will help people! Share the stories about what your business is and how it is going until today. People love stories that are related to what they are facing and will even want to pay more if they can really be helped if there will be a trouble. It doesn’t have to be the super strong stories with long description, just tell your customers what they will get by get the offers from your business. Social media is a platform and many of us are barely can get away of it. rather than only using it for personal updates, why don’t you think about using it for business? Moreover, it has ads platforms you can make us of as well.
  4. Think about the other business owners or managers your business can cooperate with! Now, let’s talk about how the business 2 business (B2B) is working. Most of the times, we are focusing on marketing the business to customers and start gaining profit. One thing we may have been missed is that, there are more relevant businesses that are ready to cooperate with you as long as both parties will meet the agreement. That’s it. Doing this can also help you to find the new marketing strategy that have not came across your mind before.
  5. You can always analyze your business along with the marketing strategy using SWOT. to know how the strategy is working, you can test it right away to your business or you’d better analyze it first to know if that will be possible to achieve your business target or not. And one of the way to doing it is by knowing the Strengths, Weaknesses, Opportunities and Threats (S.W.O.T).

Building Effective Communication in Your Business Team

It is not easy to run business while building solid team at the same time, however, team is important for your business to make it work. You can handle all things related to your business but it will be more efficient if you can do it together with your teammates.

Besides, you have more opportunities to expand your business and make it last longer. However, building a solid teamwork is not as easy as it sounds either. You need to build effective communication first to ensure that everyone is one the very same page.

How to build effective communication between teammates

A conversation won’t work if you only care to speak and unwilling to listen. Effective communication is a two-way. This is how you can build relationship in your business. The key of effective communication is positive and personal awareness.

How to build effective communication with teammates in work

To build effective communication, you need to have qualities such as active listening, assertiveness, eye contact, mindfulness, and self-confidence.  It is important to raise awareness to listen.

This way, evert teammates understand how to face differences and how to respect each other. Differences are not always bad. It can help broadening the horizon and generate more ideas. You and your teammates also must be able to be mindful of individual’s space. 

It is also crucial to use positive language especially in professional environment. This can be carried through verbal communication. Positive language is important because it is encouraging and helpful.

Meanwhile, negative language tend to drive conflict. Even if you have different opinion, it is important to deliver your intention through positive language so the others won’t feel offended. Positive language don’t necessarily results in positive consequences. However, it can prevent from unnecessary fight and conflict between teammates. 

Using positive language you look submissive. As business owner, you need to use assertiveness in maintaining effective communication.

However, you have to differentiate between assertiveness and aggression. Assertiveness doesn’t contain hostile mood to the conversation. It is a clear statement of something you want to plan. Meanwhile, aggression leads to hostile behavioUr that can aggravate conflict instead of solution.

Using assertiveness means you have self-confidence in expressing your thoughts without degrading others. 

To build effective communication, it is important to learn more about speaking style which include tone, accent, volume, etc.

Your teammates may take differently when you deliver the same sentence in different tone. When you raise your voice too loud when giving order, it can be misinterpreted negatively by your teammates.

When you speak in the right tones or pitch, you can motivate others. Positive speaking style is highly advised to use in working environment.

It is easy to have misunderstandings between teammates. That’s why creating positive and effective communication is crucial. Your team won’t be able to reach the goal of the business if they cannot even communicate well to each other.

Learning how to use positive language through words choice or tone will benefit every teammate. As business owner, you can encourage your employees and team, or give them examples of effective communication.

How to Face Your Business Competitors

Running your own business requires you to be ready to face anything including your competitors. Business is where you have to deal with competition that often tougher than you thought. Every business owner has their own goal and one of them is to be ahead of the competitors. If you cannot be ahead of your competitors, it is easily to be forgotten by your customers. You don’t have to be the best. You can also beat your business competitors by being uniquely different and more standout. There are many ways you can do to face your competitors. And that’s what we are going to share today. 

Tips to deal with your business competitors

Aggressive competitors are not uncommon in the market and business industry. You need to make sure that you are ahead of them. It is important to defend your market position so you can build your competitive advantage. This way, you have more chance to grow better than your competitors in business wise. Here are some tips to face your business competitors.

How to Face Your Business Competitors

Do your own research about the competition

Before facing your competitors, you need to know who they are and what they are offering. You need to observe their strength and weakness. Therefore, you will have ideas of where you need to compete in. you will also be able to figure out how to differentiate yourself from your competitors by standing in the right platform.

Get to Know About Your Customers 

Aside from knowing your competitors, you also need to know your customers. Remember that it is important to target your customers so your business is more oriented and specific. This will also allow you to find out what your customers expect from you. You have to find out what your customers need whether it is lower price, premium service, latest products, etc. winning over your customer’s hearts is one of the most effective ways to defeat your competitors because loyal customers are valuable assets.

The Devil is On the Details

Build your reputation through small details. It is important to make your presence known. The image you build can show your credibility. That’s why you need to update your image and choose the concept that fits your unique selling points. 

Loyalty Awards

Aside from attracting new customers, it is also to look after your existing customers and make them stay loyal. Try to improve your customer service to keep your existing customers happy. You can also expand your offer by providing new products or services your new and existing customer might be interested in. 

Stand Out from Others

Do not be afraid to be different from your competitors. You have to give good reasons why customers should choose you over your competitors. You need to figure out your unique selling point to attract more customers. Find something that makes you different (in positive manner) from your rival. To let customers know that you are different and better, you need to set up the right marketing plan. You don’t have to choose expensive plan but make sure to choose the one with the most promising and effective result.

Challenges in Digital Marketing for Your Business

Marketing and business are inseparable. Business won’t work if you don’t pay attention to the marketing strategies that will help it to grow. Every business owner may have different marketing strategies. Some still use conventional marketing strategies when they use flyers or brochures to promote their products or services. However, there is more efficient approach that is digital marketing. Since most people now spend their time in digital world like internet, business owner should take advantage of it by using digital marketing strategies to generate leads and attract prospective customers. 

Digital marketing challenges you should know

There are many benefits of using digital marketing strategies and tools such as cost-efficient, more accessible, larger audiences, and many more. However, every strategy almost always has its consequences challenges too. In digital marketing, you also need to be aware of some challenges, and here are they.

Challenges in Digital Marketing for Your Business

Saving budget efficiently

This can be one the challenges in digital marketing. Of course, there are some digital strategies and tools that can be used for free for marketing. However, every business owner tends to concern about how to stand out from the competitors. Thus, investing in such a large amount of money must cross your mind somehow. However, you can also find another solution to this challenges. You can particularly segment your audience you can reach targeted customers more efficiently. You also should focus on particular channels that so you know that you can win the battle. 

SEO Rank Competition

Another challenge in digital marketing is the tough ranking competition. To be the top ranks in the SEO is really tough even though it sounds easy. Some people say you can just simply buy SEO package and service but it is not always working for some business. Page ranking is crucial in digital marketing because it leads to more leads. What you can do to overcome this particular challenge is to use different approach of SEO and focus on your customers experiences instead. When you focus more on what your customers need, even Google machine won’t have nothing to do to prevent them from reaching your page.

Social Media Optimisation

Social media can be efficient digital marketing tools to help you reach larger audience. However, there is also a challenge to social media, which is when it isn’t flourishing. There are various factors of why it happened. You can improve the performance of your social media by frequently post some contents at least one content per day. This way, you will not easily be forgotten. Make sure that what you post is valuable for your audience.

Quick Response to Customer Feedbacks

Managing digital platform as your marketing tool can be challenging because you need to be quick in responding your customers. Since you are more reachable and accessible by your customers, it is easier for them to give you feedback, criticism, or even complaints. You should be able to respond their feedbacks immediately so that they won’t feel neglected and ignored. Being attentive and truly social to your audiences is a must when it comes to digital marketing approach. 

Why Digital Marketing Can Be Your Property Business Solution?

One of the challenges on marketing the property business today is you will have to prepare more marketing strategies and plans. Those will be needed just to find the potential market and see how they are working.

Digital Marketing for property business

While today most people are accessing internet through their laptop, phone or gadget, from any parts of the world, digital marketing has been getting the better attentions from the business men and women on earth way much different than before. Especially for those in property business and investment, digital marketing has been a great way to reach their audiences.

The reasons of digital marketing can be your property business solution

Many of those who are financially sufficient are active on social media and are also often accessing websites through tabs by tabs to find business deals, information, movie to watch, etc. Many of them are digitally the active users as you are and they might be the market for your property business you have been looking for.

Marketing the business on social media as well as on website have been the regular thing many businessmen are doing. It is because many of us now are depending on our gadgets to find and buy things online.

That behaviour will be the good news for property business owners and managers ever since they don’t need you to be convinced directly. Just by publishing the contents and information through their property business site, included with the contacts so you can get in touch with them, property transaction can be seconds ahead.

Marketing the property online can also be the way to reach more audiences than we could before. In a day, the property offers can be read thousands of people whether they are coming from Google to your site, clicking on the link to your site on Facebook shared by their friends before or simply by clicking on ads you have been putting 3 days ago.

More and more audiences are accessing your property business information through internet and that can be happening all day long and everyday. The more people are interesting about your property business, the higher conversion you will get. Even today, there are many business lines including property business itself is hiring the Digital Marketing Agency to help them reach more potential customers through various ways.

A digital marketing agency is an agency that way far different with the property business but they know how to sale or rent property through reaching more customers online. Mostly, you will be suggested to build a site if you have not one, making a strong design resources to introduce and increasing your business brand, managing social media and dealing with various ads platform in purpose of finding the new prospective for your property business.

Reaching customers can be easy or the otherwise if you don’t know how you are going to reach them. Through digital marketing, everything seems possible to introduce and market your property business on internet to anyone. Even, you will be surprised what kind of people that can be your customer.

Is There a Shortcut to Build Your Business in Property Investment?

It is true that to become success in property investment can be gained overnight. It may take years until you can pay full your loan mortgage then take more years to establish steady investment with great profit. This leads to people wondering if there is any shortcut to build business in property investment. However, it is also important to keep in mind that not all property investment is treated like business by its investors. If it is the case, it will be harder to build your true property investment business. That’s why growing business through property should be done the right way or else you won’t ever get to reach your goals.

The shortcut to grow property investment business

Basically, there is no thing such magic in building and growing property investment business. Everything is built with hard work, dedication, patience, and passion. There might be few people out there who could achieve their success in a relatively short time but there must be some factors influenced. Here are some things you can consider shortcuts to grow property business investment business:

Is There a Shortcut to Build Your Business in Property Investment?

Deciding your destination and what kind of landing you want to be.

By thinking of this important factor, you will be able to formulate the right strategy to reach your goal and the type of ending you want. You will also be able to build the right foundation to establish your business. The stability and longevity of your foundation from the beginning is very crucial point to decide the ending. Make sure to have clear vision of your property business investment.

After taking decision, take action.

This sounds easy but not really. People likes thinking but not very fond of taking the real action especially when they are overthinking. Your future can be predicted only if you created it. Lots of investors regretted their beginning of their career mostly when it comes to taking actions. Once you decide your goals, you need to take action no matter how small the steps is.

It is easy for investors to get swarmed by others throughout their journey in investing. That’s why you need to have strong mind and the right thoughts of your property investment business. Your thought is what can lead you to what you feel. Then, what you feel is what can lead you to your action. And of course, the action is what can lead you to the result. Make sure to choose the right decision so you can take the right actions. They come from your thoughts. That’s why mindset is powerful thing.

Understanding the real deal in property investment is the right thing you should do.

Sometimes people are only speculating not really investing so that’s why they don’t success like they hoped for. To be able to build real property investment business, you need to treat it like one. It starts with understanding the essential points and fundamentals applied in property investment. By understanding more, you can make better decision because you know what you are getting into.