6 Skills For Small Business

    6 Skills For Small Business Manager

Multi-tasking Action:

A manager must be able to oversee all the employees and keeping their abilities and weaknesses in mind while prioritizing multiple projects and I call this being up the blimp & looking at the action on the field rather than being in the game. So, the best managers multi-task and balance those priorities without losing productivity and action.

Decision making Business: 

The ability to evaluate and decide is crucial to being a successful manager in a small business is that Small businesses are unique in that information often must be acted upon quickly thus but making the right decision rapidly without making mistakes means evaluating information to weed through what is important and what is not.  Do not look at a situation over and over without making a decision right or wrong or then you will lose sleep and probably lots of opportunities.

Leadership: 

Best managers know how to get the most out of their employees and while building them up in the process that means using judicious constructive criticism instead of be-letting.  It means that treating others with respect instead of my way or the highway.  It means leading by example instead of do as I say and these are all leadership traits that inspire employees to give their best.

Motivation: 

This goes hand in hand with leadership to be effective as a manager and being able to motivate employees is must.  Even though I am a motivational speaker and motivation to want to do well is internal or the employee is motivated to do the job or not. A successful manager is able to nurture that along with using clear performance expectations and setting goals will keep the employee focused on the long term success of your company and success.

Business Development Skills: 

A manager must be able to look for areas in which the company either procedures within the company can be improved.  Millennial employees are very good at seeing these things when they first start and to be open to them. Streamlining procedures & cutting costs are two ways a manager demonstrates this skill.

Effective Communication:

Without a communication skill the managers are in-effective as only a small percentage of communication is the spoken word and the body language, facial expressions, and tone of voice all, combine with words to convey a message to the best managers have developed the ability to not only communicate the points they are trying to make- but also to truly listen to those around them.  It means smartphone off, eyes looking at the person and striving to hear or rather than speak.

Conclusion:

When a manager has the six skills listed above, they are able to receive information from multiple sources and from employees they are leading or even from the industry around them and then use that information to benefit the bottom line of business.

Keep in touch for more, I will love to share more business ideas that make you all feel good and safe!

Business Of Your Dreams

3 Key Rules of Starting the Business of Your Dreams

Do incorporate with company and Keep It Simple:

A limited liability corporation- can be formed in most states for less than $150 directly through the Internet without a legal assistance. This will keep financial and legal liabilities away from your personal assets and but won’t cost you the big initial cost and ongoing time and fees of a Co-operation.

Create Business plan online And Don’t wait for funding:

Too many entrepreneurs still think plans are for investors and investors are required to build up a startup. So, both are wrong and you need a simple plan to set real milestones and you do not need investors. Finding them takes too much time and effort and takes away control and ownership.

Create & register intellectual property online:

In a new startup there is tremendous competitive value in registering intellectual property early and you don’t need to contract these tasks to expensive experts any longer. So, the trademarks, copyrights and even patents can be completed online by anyone through the U.S. Patent and Trademark Office site for a few hundred dollars.

Keep in touch for more business ideas!

Social Media Importance In Business

Why Social Media Is Very Important For Business Marketing

Building An Awareness:

If people don’t know about your business then they can not become your customers! Social media boosts your visibility among potential customers and letting you reach a wide audience by using a large amount of time and effort And it is free to create a business profile on all the major social networks. So you have nothing to lose.

Define what you want to get out of social media to develop a social media strategy, do you want new customers to discover your services OR Do you hope to bring more local shoppers into your stores.? By keeping your strategy specific is that you can determine which social media channels are the best fit for your business.

Communicate To The Authority:

Customers are increasingly savvier and more discerning about which businesses they support and before making a decision, they will do a quick search to browse your website and social media content.

Will they find an empty storefront or a rich source of information WOW Setting up robust profiles that you update frequently with relevant content will build your brands authority and make sure you make a positive first impression through social media and showing that your business is trustworthy & knowledgeable and approachable.

Look for ways to demonstrate your expertise as a thought leader in your industry, like writing pieces related to your expertise or expanding on your companies mission. By showing what your business offers and values it is that you will establish confidence in potential customers.

Showing Positivity And Authenticity:

Customers are not interested in businesses that publish dry and corporate style social media posts etc!

Instead of that, let your brands personality shine through in everything you share on social media. So, what does your brand voice sound like? How does it represent who you are?...

Practice getting your tone just right and whether its a casual and funny or formal and friendly. Be very true to who you are and not who you think you should be. So, followers want to see real people behind your social profiles! Show them!

Encourage A Engagement:

Social channels evolve constantly releasing new features and this rapidly changing environment can be intimidating for some business owners versa vise.

But remember that you don not have to do everything. Play with new ways to connect with your audience and give yourself permission to learn as you go. One day that you could post a series of Instagram Stories to give customers a behind the scenes tour of your office and the next, you could host a quick Q-A session via Facebook Live video streaming. Over time past you will get a better idea of your followers preferences.

Provide A Support :

Social platforms have successfully broken down barriers between companies and their customers, instead of calling a customer service line many people turn to Facebook or Twitter to solve problems or find information for that problem.

Develop your reputation as responsive and caring brand by offering support through social channels as following:

Create a system for tracking customer comments & questions and complaints on social media.
Respond as quickly as possible to questions & concerns.
Go out of your way to be positive & helpful.
Listen to criticism and make customers feel heard!
Know when to resolve public conversations in private messages to get trust.

I will be in touch for more!

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Low Investment Business Ideas

(3) Three low investment Business Ideas

Partner with a Drop-shipper:

Buy stock and store it, pick it, pack it, ship it. Managing inventory can be a big commitment when you are running a business in a good shape. Drop-shipping is a fulfillment model where a third party supplier stores and ships inventory to customers on your behalf and you just need to make the sales and pass orders on to your supplier, you dont have to handle the products yourself.


You can curate products from one or more suppliers into your own online store under a theme that focuses on a specific niche. Like, gear for yoga enthusiasts or water bowls for dog owners and when a customer buys a product from you then, order is sent to your supplier who fulfills it on your behalf. However, you are still responsible for your own marketing and customer service.

Design & sell print on demand T shirts:

Another drop shipping model is print on demand puts inventory and shipping, and fulfillment in the hands of a third party supplier. Unlike the drop shipping idea above that the focus here is on customizing these products with your own designs to create something original.

T shirts, hats, phone cases and hoodies, skirts, tote bags and more become canvases for your creativity. So, you can think up witty slogans for developers or references that resonate with cat owners, if there is passion and pride within a community then, there is a potential T shirt business you can start.

Even if you are not a designer, you can find a designer to work with using freelance sites like Fiverr, Up-work, Dribble, and 99Designs.

Sell a service:

With services based businesses time is your inventory and your biggest investment is that you have only got a limited supply of hours in your day. However, that makes it easier to get up and running if you have got skills that are in demand.

Writers, designers & developers, photographers or house cleaners, fitness trainers, and more can build a business around their skills.

They can also expand their business with any of the other ideas above to create additional revenue streams by productizing their services through physical or digital goods.

A photographer or for example, can service a local event while selling prints online through their Instagram account. A copywriter can sell a copywriting swipe file of high converting sales copy, coupling your service based business with physical products can give you another source of income that is not directly tied to your time.




I hope these three components make you feel closer to the smart business ideas!

Two Important Government Regulations

Two Important Government Regulations On Business You Must Know :

Tax Code:

Tax code is a federal government document and numbering thousands of pages that details the rules individuals and businesses must follow in remitting a percentage of their incomes to the federal or state government and the tax code is used as a source by tax lawyers who bear the responsibility of interpreting it to and for the public.

Labor Law:

Labor law arose in parallel with the Industrial Revolution as the relationship between worker and employer and changed from small scale production studios to large scale factories and workers sought better conditions and the right to join a labor union. While employers sought a more predictable, flexible and less costly workforce! The state of labor law at any one time is therefore both the product of and a component of struggles between various social forces.

If we follow these two key factor of government business regulations, we must be an impeccable business starters.

Protect Your Business

5 Tips to Protect Your Small Business:

 

Keep an Eye On What You Say and Do:

First of all, when it comes to your business image, owners and their employees should avoid making any public announcements either conducting any business that might be considered questionable. 

This means avoiding things like libelous or potentially slanderous statements. it also means not doing business with unscrupulous individuals and you may not think it is a problem working for a group of individuals who are known for shoddy business practices. Because you know your company ethics are above re-proach but if they take a hit and your company’s name may be linked to them in the fallout.

Hire Competent Attorney:

Business owners should interview attorneys when they first startup to have a standby legal contact and you may need this person to advise you before you act or on how to react when you have been sued. Owners should also attempt to secure an attorney that is familiar with local laws and customs in the area in which the business operates and Care should also be taken to retain an attorney with expertise in a particular field. If necessary, If your company is anticipating legal challenges from the Internal Revenue Service (IRS) or a state department of taxation then it makes sense to hire a tax attorney for a safe business.

Separate Urself From Your Business:

Many entrepreneurs own and operate their businesses as sole proprietorships, so the only problem with this is that in the event the company is sued and the owner's individual assets such as their cars or home are fairly easy to attack or attach in a court of law.

The solution to this is or at least a way to limit the possibility that the owner's personal assets might be the target of a suit which is to have a trust own the business. A trust is a legal entity that in the most cases, files its own tax return and can own property, businesses, cash, securities and a host of other assets. If a properly established trust owns a business, then it is sued or in most cases the only assets that can be attacked or attached in a court of law are those that are in the trust itself.

Protect Yourself While Be Insured:

All businesses should obtain liability insurance in case a customer was to slip and fall in your place of business and Certain professionals, such as insurance agents and other consultants should also consider obtaining errors and omissions coverage to ensure the business would be protected should a customer or client accuse the owner of making some error or not living up to a contract.

If the business is large and has a formal board of directors then, it may also make sense to secure directors and officers liability like D&O insurance. Once purchased, this insurance protects the directors and personal assets in a larger suit against the company.

Protect Your Files Appropriately:

Most businesses these days are doing work quite intensively on computers and so it makes sense to emphasize the safety requirements for your computer system. Businesses should have updated antivirus and other types of security software loaded and activated on their systems, like If a computer system were to go down because of a virus the business might be at risk of not being able to perform certain contracted work. 

Also, key files could be lost or stolen and which could then lead to legal action from clients and suppliers.

Key Component:

Business owners have the responsibility to protect their companies and their personal assets in the event of a lawsuit. So, with these five actions under your belt and your business should be well on its way to a legal & hassle free future.



I hope this information helps you in the future!

Nature And Scope of A business.

Introduction Of A Business

The word business technically means a state of being busy, every person is engaged in some kind of occupation a farmer works in the field and worker works in the factory, and the clerk does his office work in an office a teacher teaches in the classes, and salesman busy in selling goods to people. An entrepreneur is busy running his factory or business, the primary aim of all these people is to earn their livelihood while doing some work or implementing ideas.


All creative human activities relating to the production of goods either services for satisfying human needs are known as business, it is also a gainful procedure through which individuals and groups exchange goods and services for the sake of earnings.

FEATURES OF BUSINESS:

Entrepreneur

There must be someone out to take the initiative for establishing a good business with nice ideas. A person who recognized the need for every product or service will be known as an entrepreneur.

Goods & Services Dealing:

Every business low either small always deals in goods and services. Goods include both customer's goods like clothes, shoes, toothpaste, and industrial goods like, raw material, tools, and machinery, etc.

Risk Management:

Every business involves a greater element of risk and uncertainty. In fact, a businessman tries to foresee future uncertainties and plan his business activities accordingly.

Profit:

Profit is the most important feature of a business. Business is started for the purpose of earning profit and profit is the driving force of every business activity. An incentive of earning profits keeps a person in business, also necessary for the continuity of the business. This does not mean that there will be no chances of losses in business.

Production:

Businesses always deal with the production of goods and services. The main object of business is to provide goods and services to the society for the purpose of earning profit. The goods must be produced or manufactured. So that these can be sold in the market.

Sales:

Sales are related to the transfer of values. Production for personal use does not come under the scope of business for example if a shoemaker makes a pair of shoes and wears himself this act is not treated as a business. Simply, if a person makes a pair of shoes for the purpose of selling, now his act will be treated as a businessman.

Finance:

Finance is a very important feature of the business. No businessman can start a business without finance, in simple words that finance is a lifeblood of every business.

Management:

Every and each enterprise needs an organization for its successful working. Different business activities are divided into departments, sections, and jobs and organization creates the framework for managerial performance and helps in coordinating various business activities.

Regularity:

In every big or small business, only those transactions are included which have regularity and continuity and the isolated transactions will not be called business, even if the person earns profit from that deal. A person builds a house for himself, but later on sell it on profit.

Utility:

Goods are provided to the consumer as per there liking and requirements. Business creates different types of utilities in goods so that the consumer may use them and make a profit.

Consumer Satisfaction Need:

The ultimate aim of the business is to supply goods to consumers. The goods are produced for the consumers. If a consumer is satisfied, he will purchase the same thing again, Otherwise, he will go for an alternative product. We don't have to lose the consumer satisfaction.

Planing:

Planning is the most important character of business and planning is related to all the activities of the business and planning is always based on past experience and skills.

Business Objectives:

Profit is not the only objective of business, every work is started with an objective. The objective is a goal and the achievement of which is a necessity and all efforts are concentrated for the fulfillment of the objective.

Profit Earning:

We can not deny that business is started for earning profits. Profit is a basic incentive to business pursuits. Profits are needed to face various uncertainties like the trade cycle, change in demand pattern, fluctuations in money markets. Good business needs profits not only for its existence but also for expansion. Investors want an adequate return on their investments, the worker wants higher wages and the entrepreneur needs money for reinvesting. The non-profit business will cause unemployment and get to poverty.

Goods Production:

Profit can be earned only VIA exchange of goods and services takes place, So, the next objective is to produce more goods and sell them to the consumer and get good satisfaction.

Markets Creation For A Business:

The main aim of the businessman is to sell products and marketing consist of these efforts which effects transfer in ownership regards to goods and care for their physical distribution.

Technology Improvement:

A businessman should always strive to use the latest methods of production. In this new ERA of competition, everybody tries to sell his products by offering goods quality products at lower prices. We must provide more good quality than others with lower prices to have lots of earnings.

Humanity Objectives:

The human objective of business requires that a workable balance should be maintained among the claims of various interested groups like employees, shareholders, and consumers. These objects can change the business sideline and offers a good initiative.

For more ideas and relative information visit i2bnotes.blogspot.com to get news and updates regarding the business ideas.