Entrepreneur Should Have Four Pillars of Business

Dec 27, 2014 | Posted by in Business, Business Plan, Business Tips | Comments Off

businesss partnerIn business an entrepreneur should have four pillars of the business. Among them, an idea or business idea, business vision, preparation and follow-up.

The reason, many people succeed in business because they have creative ideas. However, entrepreneurship is not enough only to the extent the idea alone, but must be accompanied by a vision or dream to fight for the idea, continued preparation.

After that new businesses to take action. Without action there will be no change in the business. So the four components that must go hand in hand in order to run an effective business.

Not only that, the choice of business shall be in accordance with the call of the soul so that businesses can enjoy the business. Businesses must find a business that stirs the soul and to be special with the business so that they can enjoy and work hard. Thus, when businesses lose their permanent live happily

In addition to the above factors, other things that need to be built in business is the strategy. As a businessman, you must be optimistic that you can, and know something how to generate profits from permanent establishment.

The main issue for the plunge in business one mental barriers. Indicators of barriers that include because someone felt had taken refuge in a comfortable zone, feel creative, low commitment, and not focus on running the business.

Want to Be Entrepreneurs? Try This Method

Dec 26, 2014 | Posted by in Business, Business Plan, Business Tips | Comments Off

entrepreneurIf you are tired of being employees and preparing to be a businessman, then there is some advice from the magazine “Nation’s Business” which apparently needs to be listened to.

First, plan your salary and expenses for the next one to two years, then raise your estimate of about 50 percent.

Secondly, it is important to sell information – especially about your expertise – rather than a wide range of products. The cost of selling information is fairly inexpensive and more profitable. While products require tangible assets such as warehouses and distribution systems are usually quite expensive.

Third, start with a small amount of money and try to make money fast. Go to a place that you believe consumers will pay whatever you are selling.

Fourth, choose partners carefully. Make sure they are in line with your expertise, and no attitude or their background that could ruin your business.

Fifth, talk to other successful entrepreneurs, both inside and outside your field. Ask the five most important things they want to do differently.

Perform Successful Business Discussion Recipes

Feb 17, 2014 | Posted by in Business, Business Tips, Management | Comments Off

business talkMeetings with business clients will affect the development of your business. Surely you have to do business with elegant conversation.

Pour the things you want to say to your colleague directly and not convoluted. Leave the details to the conversation at a later time and make sure that he has captured the “big picture” of your spiel before ending the meeting. Make your business meetings weighty and not just waste time. Some of these things you need to consider when building a business conversation:

Use formal greeting

When it comes to business to the person you have just met, try to greet them with a formal title, such as Mr., Mrs., or Brother. It is important to win the respect and attention of the person concerned. Before he asked you to call him by any other name, is still greeted with such designations. Importantly, lest you forget his name when he has to give it to you.

Serious but casual

Although in everyday you get used to address a variety of things with a relaxed attitude, but that mindset should be changed when the conversation turned to the matter of business. With anyone you do business, keep in mind that the basis of such cooperation is mutual trust, and your seriousness and business partners in keeping commitments.

Be a good listener

Although there are many things I want to jump out of your mind, do not get stuck into one-way conversation. Give the other person a chance to tell about him anyway. Being a good listener means you have to practice to show a genuine interest in the other person’s self, and things that are conveyed. His eye when speaking and catapult comments at the right time.

Control your bad habits

Bad habits that eyesore, such as talking with your mouth full, scratching his nose in when nervous, and did not look at the other person when conversing, sometimes we do unconsciously. In a business conversation, everything should be removed because it can bring a negative impression. Make no mistake, a business deal can be canceled just because someone was not matched by his attitude.

Choose a neutral topic

If you have not long to know your partners, choose a neutral topic. Do not get involved in a debate that could loosen the relationship. If possible, look for topics of conversation that are equally loved and mastered. Avoid talking about religion and politics, unless you are specifically asked first. If forced to discuss both the topic, make sure you are not provoked emotions and speech always be on the safe path.

Finish off with a smile

End the conversation with a smile, referring to the business associates-scooped the title of Mr. or Mrs., and a solid handshake. If you have not exchanged business cards, this is the right time to do so. When you run out of cards, write down phone numbers and e-mail address on a piece of paper. Alternatively, you can also send the data themselves followed up by e-mail. Importantly, do not let the meeting ended without the possibility to re-establish contact.

3 Aspects of Study in Business Plan

Feb 7, 2014 | Posted by in Business, Business Plan, Business Tips | Comments Off

business plan4Find a business idea without happen in real action feels futile. The successful entrepreneur, often never think of the stages in the realization of the idea. Even many assumption that if you want to do business does not need to plan anything, it’ll actually run aground in the middle of the road.

Maybe a lot of people making all sorts but plan only limited plans, so that realization does not exist. If this is the case of the above assumption be correct. Though in theory, no matter how small businesses still require planning to be able to realize the idea of a more mature business.

Purpose of making a business plan is to ensure the proper course of business operations and provide a boost to the business plans forward. It is also necessary to decide the organization in achieving its objectives at once set the standard for business performance. What is important is to gain the support of consumers, investors and even other parties.

In the perspective of a business expert Philip Kotler, at least there are some standard procedures in order to realize true business ideas in the form of a business plan in order to realize the business. The procedure is idea generation, screening, development and testing of concepts, marketing strategy, business analysis, product development, market testing, and commercialization.

In other words, a business plan to realize the idea has become a very important thing in business. May be obtained remarkable idea but it remains to be assessed in various ways, especially economical aspects, technical, and its future.

1. The economic aspect

These aspects include market analysis, sales, production costs, and profit margins. This factor is very important, because it affects the level of the decision to realize the idea into a real business. This aspect will examine the extent to which the level of benefits, with the absorption of existing markets and the ability to have the capital to run the business operations. Despite remarkable idea, but if the loss calculation would make the business is not feasible. Therefore, you must understand, how do you generate income and how much it costs to be incurred.

2. The technical aspects

This aspect is very important to measure the ability to run the business well. Are the existing capital, is able to produce goods or services that can be sold? What about the ability of human resources? Are all the power that is able to provide added value to the consumer better compared to other similar businesses? A good business plan, will provide better opportunities, minimize the likelihood of business failure.

3. The future of business

This aspect will be studied more comprehensively about the future of your business. Do not be, we know that the business they work is a seasonal business, but the plan is implemented for a permanent business. It certainly will disturb the technical aspects. Not to mention the expectations of consumers who will always be more advanced and new. Is it able to run the business that we will absorb the market like this? This is an important aspect that should be carefully considered and reflected in the business plan.

Again, you do not trust the advice that says “forget the business plan, just run it,” because you could fall into the wilderness of business uncertainty. It’s better if you test the feasibility of your business plan to the people who are more successful and more experienced in the business, and then you become a successful entrepreneur.

Note Factor It When You Buy A Business

Jan 27, 2014 | Posted by in Business, Business Plan, Business Tips, Invesment | Comments Off

business partnerYou have a lot of money, but do not want to invest to start a new business? Buying an established business that might be suitable for you. The reason these businesses more certainty, less risk or at least stable enough.

Buying a business will be one of the appropriate solution. You no longer need to bother looking for customers because they already exist. In addition, it provided a record of what could sold and what is not, which is collected from the experience of the previous manager. You only have to focus on improving the business rather than start from scratch because almost all of the necessary infrastructure and equipment already available. To buy a business, here are some factors you should consider:

customer

The most important asset that you can obtain in buying a business is the customer. Although there have been a good product or adequate infrastructure, building a customer base is one thing that takes a long time. It takes patience and consistency are high in order to foster the number of customers, not including foster customer loyalty to a product or service is launched. Make sure also that the customer is satisfied and they will not switch to other providers of products or services despite business owners who now have to sell it to you.

employee

Know the value of each employee that you have. Hold a meeting with them. Ask them about how the importance of existing employees to the development of the overall business? Is the sales staff have a close relationship with key customers? You might be able to consider providing incentives to ensure that the employees will continue to do business at least through period transition.

facilities

Leasing is not an integral part of the balance sheet but it could be a hidden liabilities outstanding. Find out if the owner is now in private rental deposit and determine whether they can provide assurance to you as well.

There are important regulations to be considered as well. Especially environmental legislation places the burden of cleaning polluted property to the owner of the property now and in some cases, to the leaseholders. Know also whether the property was once owned or leased by the manufacturer engaged in activities that generate hazardous waste that can pollute the environment. Find out whether the cleaning action has been performed.

financial statements

Do not judge the historical financial statements of the surface of it, especially if it is not accompanied by an audit letter assured of certified public accounting firm. Do not get confused in distinguishing a compilation of reviews / review. Only an audit that requires a certified public accountant examine financial information. If the seller offers an estimate to you, do not ever take it.

claim

Most likely if the business has receivables, its value will be inflated. Check carefully changes in accounts receivable and determine what amount that exceeds the normal threshold is in practice similar industry (nominal value terms are often ignored). Then suppose that some amount of the receivables (valid) will also turn into debt.

inventory

The market value of the inventory will always decrease of the amount paid when purchasing. Although some larger businesses tend to have goods slower moving, many small businesses are even more hesitant to enter or selling an item that is already considered obsolete.

competitors

Rest assured that you do not walk to get into a minefield. Is the price war going on? Are the competitors cut their profit margins to the minimum? Is the seller who now hear about the report on the company that enters their market niche?

lawyer

You need to consult with an attorney who really understand the field of small business before signing the purchase agreement. This is important because it can show on your hidden things like contract, work obligations, legal proceedings, claims to vendors, ewa, and others.

secrecy

You must have a strong agreement with the current owners about with anyone, at any level of negotiations, and under what conditions you can talk about your interest in buying a business. Tell customers it is important that you are considering to buy a business that has not been declared in the general sale will bring risks to the business and can make you sued by the owner of the business in question

How to Start a Business Agreement

Jan 15, 2014 | Posted by in Business, Business Plan, Business Tips | Comments Off

business plan4A business agreement is an agreement between two or more parties. It can be really simple or very complex. Some business deals are made and agreed fairly with the verbal agreement. Other business agreements require a written contract. Start thinking about setting up your business by deciding what you want out of the business relationship. The best business deal should lead to gains for both parties.

Here are some instructions that you can do:

1. Identify potential business partners through the network. You should always be alert to potential business partners while developing your business. Get to know other business owners to attend a workshop or convention entrepreneurs. Learn about some of the challenges you face competition. You may learn that you are strong where weak competitors, and vice versa. This could lead to a business arrangement that benefits both parties.

2. Approach good potential partner based research and your network. For example, you are starting a catering company specialized but you need the use of the kitchen for a certain time. You can join catering company experiencing financial problems so that you are allowed to use the kitchen when not in use and pay the rent. It will give you the facilities you need and provide income for your partner.

3. Select more sophisticated structure for your business settings – such as joint ventures – if necessary. A joint venture allows your company and other companies to cooperate in business initiative or series of initiatives.

4. Publish a successful business deal. Talk about the success of your social networking site or by issuing a press release. This will make your company profile to rise in society so as to enable any company to you for a business deal.