Business Tips

5 Tips to Jump Start a New Business
· Create a brand. Spend a little money to create a professional logo, business card and stationery. Present a professional image.
· Ramp up Online. Make creating a Web site a top priority. A Web site is today’s calling card. You really shouldn’t do without one. Give people a place to go to learn about your business.
· Make Your First Sale. This is key. Get that first sale even if it’s friends or family at a discounted rate. This counts as getting started, so go for it.
· Promote Testimonials. Get testimonials from your first sales. Start building credibility for your business from day one.
· Build Buzz. Be creative. Look for a special promotion, big event, email campaign or something out of the norm for your business to get people talking about you, your product or service।

Keep your eye on the big picture and prepare for the worst now.

Do Hard Analysis, Don’t Get Bogged Down : When things are good, it’s the right time to conduct an in-depth analysis of your business। Consider doing a SWOT analysis (strengths, weaknesses, opportunities, threats) when business is good, so you can repair your weaknesses while things are running smoothly. Many small business owners fail to look at the big picture because they’re too bogged down in minutiae—the everyday challenges of running the business। But it’s a mistake to ignore the big picture. Take the time to shut out everyday things and force yourself to gain a longer perspective on what’s going on. Look at much longer metrics, such as what’s happened in your business over the past couple of years.

Ways to Look at the Big Picture : Mission and vision statements are good to jump start your thinking about who you are and what you’re really about. What winds up in the statement is secondary. It is the process you go through when forced to take a hard look at your business that is most valuable.
Small business owners should have a good team in place to help them keep the big picture in mind। It’s important that everyone on the team commit to the direction in which you’re trying to move the business. If you disagree with the advice and have good reason, consider getting a new team.

Don’t Forget the Industry as a Whole : It’s dangerous to look at just your own performance on sales and profits। You have to check out the competition. Remember that our economy changes. You can achieve success from making comparisons over time to learn what the competition is doing, what’s different about his or her customers and what’s happening with your own suppliers.

Use Advisors : For small business owners, teams of advisors can be expensive, which is why it is so helpful to seek free advice from organizations such as industry trade associations, SCORE or the U.S. Small Business Administration.
Advisors will be able to identify trends in your business sector, new developments, and who’s succeeding and why। It can be hard for business owners to do this after operating on their own for a number of years, but the outside perspective is invaluable and will help you evaluate your business more effectively.

by SCORE "Counselors to America's Small Business"