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Make Your Business Ambitions a Reality
You should already have identified your business idea at this stage, so now it’s time to balance it with a little reality. Does your idea have the potential to succeed? You will need to run your business idea through a validation process before you go any further. In order for a small business to be successful, it must solve a problem, fulfill a need or offer something the market wants.
Once that is established and realized, you can focus on innovation, ambition and reality. All innovations efforts are not equal. Some require far greater ambition than others. New to the world products or services take considerable time, energy, and resources, where as a product refresh keeps the corporate engine humming. In order to be successful in innovation, an organization must align around its appetite for ambition. But creating this alignment continues to present a challenge for many organizations. It requires tough conversations and decisions around money, schedule, decision rights, resources, and tradeoffs. This is where we can come in and help your dream come to reality.
FOCUSING ON THE RIGHT REQUIREMENTS
Here is a list of requirements needed to help you start your business successfully. We take one requirement at a time, and we’ll help on your way to successful business ownership.
BUSINESS DEVELOPMENT & COST PLANING
Startup costs for your business (licenses and permits, banking, equipment, legal fees, insurance, branding, market research, inventory, trademarking, grand opening events, property leases, etc.), Good results are often set in the beginning, so making sure you follow all of the necessary steps.
PLANING & RAISING FUNDS FOR YOUR BUSINESS
In your financial calculations, you will need to keep your business running for at least 12 months (rent, utilities, marketing and advertising, production, supplies, travel expenses, employee salaries, your own salary, etc.) plus the initial investment. By now you have a rough number in mind, there are a number of ways you can fund your small business ( Financing, Small business loans, Small business grants, Angel investors or Crowdfunding). You can also attempt to get your business off the ground by bootstrapping,
PLAN FOR PROMOTING, MARKETING & ADVERTISING
Once your business is up and running, you need to start attracting clients and customers through many different promoting, marketing and advertising channels. You can start with the basics by writing a unique selling proposition, creating a marketing plan and explore as many business marketing ideas.
PLANING & HIRING YOUR WINNING TEAM
In running and maintaining a successful business you will need your own support team that comprised of a mentor, small business coach, or even your family, and serves as your go-to resource for advice, motivation and reassurance when the road gets bumpy.
If you are hiring employees make sure you take the time to outline the positions you need to fill and the job responsibilities that are part of each position clearly and accurately. You could outsource the work to independent contractors and carefully seek help from an attorney to get your independent contractor agreement in place if you don't want to deal with paying employment tax—Social Security and Medicare—as well as income taxes.
ONLINE WEBSITE & TECHNOLOGY PLANING
There are so much rapidly evolving technologies available, how should you go about making the right decisions about your business’ needs? Taking the plunge and investing in technology can be daunting, but if done well, can dramatically help your business’ growth.
SECURING, PLANING FOR GROW & EXPANSION
What can you do to get your business beyond the bare sustenance level? What can you do to turn it into the income-generating powerhouse you envision? Like any element of running a business, there are multiple growth strategies that you can try.
Studies have found that improving customer retention also improves the value, growth and expansion of a company by doing the followings ((Recapture Existing Customers, Ask for Referrals, Contain Your Costs, Extend Your Market Reach (Open stores in new locations, Target a new demographic, Encourage new uses for your product), Participate in Trade Shows, Conquer a Niche Market, Diversify Your Products or Services, Develop Franchising Opportunities, Expand to Exporting)).
YOUR BUSINESS NEEDS TO STAY DYNAMIC IN A COMPLEX ECOSYSTEM
Differentiate Your Company Through New Services & Products
Grow your business by being very focused on a single niche. This gives you the opportunity to become a “big fish in a small pond.” Look for a subset of the larger market whose needs are not being met, then concentrate on meeting those unmet needs at a consistently high and accessible level. Create sustainable growth that has enough interest to increase your target market bigger and generates frequent sales. Position your products at a high enough price point that you can survive or fewer sales.
Boost Your Customer Experience
Human touch, digital world
Digital humans are AI-powered brand ambassadors that recreate the best aspects of human interaction to drive deeper emotional connection with customers. Digital humans bring meaningful connection to the digital world, where empathy and compassion have disappeared from customer interactions. Create a lasting impression while adding boundless scale and supercharged efficiency.
Enhance operational efficiency and increase productivity
Simple ways companies can easily identify operational inefficiencies and increase productivity. Managers need to be able to quickly identify under performing labor resources and process bottlenecks. The manager must do the followings (know your operation, train, train and train again, put people first, keep an order fulfillment focus, improve customer service, remove barriers to success, raise the bar, review processes, benchmark against your peers and assess the power of your system )