RESOURCES

“If your dreams do not scare you, they are not big enough.” – Ellen Johnson Sirleaf

Contemplating on their future, thoughts and ideas are swarming in young people’s heads all the time, and even in their sleep. Trying to discover the way that our mind works, scientists have long established that our dreams are a reflection of our wishes and fears. They have now come up with a clear pattern of how our conscious and subconscious mind generates thoughts and outsources ideas from all stimuli that meet our senses.

Deriving from observation of the contemporary human environment, our thoughts and ideas are giving us the incentive to process and form notions on what we need, desire, and are able to do to improve our lives, as well as set the goals/ objectives we wish to accomplish, pursuing observable as well as measurable end results, achievable within a more or less specified timeframe.

Truth is, having an inquisitive, alert and absorbing mind, you can get random business ideas walking on the street, going to work, talking with your friends, family, fellow workers, and people you meet. You can come up with a great idea taking classes, reading books, watching TV or surfing the Internet. Images, situations, and objects that you visualize frequently, eventually materialize in a natural way producing realistic ideas, this decisively depending on how ambitious, genuine and honest you are. Time, effort, and attention you put into this task also matter a great deal.

Ideas may come into our minds as challenges- questioning the status quo, and suggesting better ways of enhancing your skills and performing tasks. Thoughts have an instinctive reflex tendency to expand and grow up on you, providing nourishment for your devotion, interest and enthusiasm.

Waiving or rejecting your ideas at birth without giving them a second chance is the gravest mistake you could ever make. What you must act on is shutting off negative thoughts, and doing your best to allow your mind to embrace thoughts that bring positive results.

The process of assessing (screening, evaluating and validating) becomes less arduous with the study of specifics, and the use of applicable tools.

With only few exceptions, making a profit is why we do business. Entrepreneurs are rewarded for and benefit from their ideas, so long as they come up with something people feel they cannot do without.

Your idea for a new product may seem attractive to you, but before you make it your business to make it available, you first need to make it your business to evaluate with the highest proximity how your brainchild will do in the market.

Connecting an idea to a business concept is only possible through testing your idea and researching the market. However daunting, time consuming or posh you expect this procedure to be, it is nevertheless crucial to the success of your venture. Besides, most of the work can be done online and, most importantly, you can get a clear perspective directly connecting with both seasoned and acknowledged business people, and potential customers. 

Market Research

The method you choose must help you

  • Indicate your product or service specifics, strongpoints, and differences from similar offers
  • Define a target market
  • Respond and adapt to your target customers’ needs and preferences
  • Position your offer by measuring competition

Staring your business venture, there’s really no way going around without a sound, thoroughly researched, and carefully developed business plan, However intimidating and pointless it may seem to a novice entrepreneur, a business plan is not only essential to the survival and development of your business, but also an indispensable element in your pursuit of financial resources. Your business plan is not only your navigator through the treacherous paths of business, but at the same time it constitutes your elevator pitch, as well as the means to sell your idea to potential funders.

In the case of small businesses, the owner-manager is the one responsible to conduct a simple, yet precise, concise yet detailed, and ambitious, yet realistic business plan that works,. What’s more, it is you, the aspiring young entrepreneur who will be responsible to decisively implement and effectively monitor its progress. Even if you feel a bit out of it, you nevertheless need to find the energy, stamina, and drive to see it through its course, and make it a success.

A business plan must contain information on all the segments of your business profile:

  • Business concept: Your course: Idea>Validation>Market research>Concept foundation
  • Strategy: Product or Service Development, Costing, Distribution
  • Financing: Defining startup and running costs, Fund resources, Cash flow
  • Administration / Management: Type of company, Location, Objectives (Efficiency, Productivity) , Hiring and Training Policy.
  • Marketing and Sales: Branding ( company logo) and Advertising, Performance

No teeter-tottering change back and forth discriminating consumers

“Doing business without Advertising is like winking at a girl in the dark. You know what you are doing, but nobody else does.” – Stuart H Britt/ passively waiting for entrée

Raising healthy funds for your small business is probably the first and harshest hurdle that you as a Youngtrepreneur may have to face. Starting small is not only a good idea, but effectively your only option, as money doesn’t come easy when you most need. Still, there are quite a few financing options, especially for small businesses, so calculate your start up and running costs and decide on the best way to raise finance and fund your small business.

This section covers some key points around financing a startup. We will cover the basics of startup cost establishment, explain how to raise initial basic funds, and how to manage financing at start up and regulate cash flow during the initial period of operation.

Defining startup cost

In most cases you don’t need as much to get an idea up and running, this of course depending on the field you are looking to set up your business, as some sectors inevitably have a high initial cost. Furthermore, it is not wise to invest a large sum of money on a business you know little about and have no skills or previous experience for, as in that case the risk of complete failure is too high.  .

The most common mistake a lot of people make in estimating how much they need to get started is they are not as creative in approaching their startup cost as they were in coming up with the idea. Furthermore, they are not realistic or practical enough, as management within the maturing operation period of your scheme, is a factor that also has to be set in advance. This practically means that the financing of your project will have to be set within a calculated time frame, as it is obvious that no business can operate indefinitely without a reasonable profit.

Calculating Fixed Cost

As previously mentioned the startup cost of your endeavour largely depends on the field you choose to realize your ambitions. It is also crucial to determine the type of company you wish to establish together with the financial ceiling or plateau you are considering. As much as it is realistic that you can set up a business for next to nothing, it is also true that certain venues, a bank or an insurance company, for example, require a minimum capital that is out of reach for most of us. 

Today’s business environment allows us a lot of flexibility when it comes to reducing the cost of starting up a commercial activity without compromising the quality of the product offered. Basic needs such as  IT and other equipment, office furniture, business stationery and office supplies, marketing items such as leaflets or launch adverts, website development, postage, travel and transport, heat and light, phone and internet charges, insurance, professional fees can actually be efficiently reduced by monitoring and checking out the market, as long as you initiate your negotiating skills. The highest operating costs are premises (rent and rates) and staff (wages, tax and National Insurance

In like manner you have to think of how you can use creative financing and approaches to get your idea started or at least to test the market in the most cost effective way. If you are offering a service product, instead of finding an office, why not establish a virtual office and set up a website, including an online ordering service and customer support? Get some business cards and advertise through the Internet. You will save yourself rent deposits and all associated cost while, working from home, or on the go, you cut down on time spent going back and forth. The funds you would have used leasing an office can go towards marketing your service.

Cutting around the edges and reducing costs by no means allows you to compromise quality, especially if you are a newcomer and need to build a reputation. No part of your business should give the impression that it was roughly planned or that you are just promoting a makeshift variation of the real thing. The status of a business is always affected by its customers’ opinion its products or services.   High quality customer service will encourage customers to become regular, and even attract more clientele. On the other hand, a poor customer experience may damage a business through loss of consumer confidence. 

Running cost, Cash flow and Operating Grace Period (OGP)

It is a sad fact that over 85% of small businesses do not operate on accurate, updated and dependable financial terms, since the procedure involved is often time consuming, and rather boring.However, today’s entrepreneurs can largely rely on technology to grip the grunt work of organizing their data and focus their time on using that information to improve interactive communication within their business.

Organized finances will lead to better decisions, and thus better results for small business startups. Having defined the initial fixed cost, you must then really put your fund managing skills to the test. You are in for more than a handful of trouble, as designation of operation costs varies not only with the field, type and size of business you choose, but also depends, and more importantly so, on all the people you choose to do business with, including funders, collaborators, consultants, employees, and most certainly customers

Assessing Fuinding Ortions.

Theoretically, most small businesses piece together their funding using a number of different sources in the course of time ranging according business model, projections, and type of venue. Initial seed capital is easier to come by, provided that you are flexible, remain positive, and be able to sell your idea- and yourself-well in your efforts to attract potential financial partners can.

Here are the most popular options in order of priority 

Fund your startup yourself

As costs for a business startup are at an all-time low at present, it is not an oxymoron that over 90 % of startups are self-funded. “Boot-strapping”) is really the only option before more formal funding opportunities become realistic. If you are bootstrapping, it may take you longer to start and grow organically, but the benefit is that you don’t have to give up any equity or control, and your business is all yours. You are in every sense your own boss. If it were not for the lack of funds, it is unlikely that many entrpreneurs would do it any other way

Apart from savings accounts and zero interest credit cards, as well as borrowing small amounts from family and close friends (even that is a bit tricky), getting a job is the only way to go.

There are plenty of solepreneur businesses you can launch at zero cost. If none of these suit you, maybe you can hold on to your current job until you are able to save some money. If that is not the case maybe you can try well-paid work, doing highly demand manual labour, i.e. gardening, painting, construction working, etc. If you believe in your decide not to accept failure as an option, you should feel comfortable investing you own hard-earned money into the business. In turn, this will make future potential investors more comfortable knowing you are bound to keep your eye on profitability as it’s also to your interest.

You can also build your funding working for businesses that are within your field of interest. You may not have your dream, but you can certainly use the experience and the connections, which you will find priceless when you decide that it’s time to be your own boss.

Find Partners

Well, really, what could be more brilliant than that? You find one of two close friends who share your vision, and unite your financial and human resources towards a common goal. This would actually be the perfect option, if people were not what they are.

Today’s economic landscape requires financing creativity and out-of-the-box thinking when it comes to having others involved in your business as partners. The key words here are chemistry and trust so, instinctively, the first people you turn to are your family, fellow students, mentors and closest friends.

Pitching your needs to friends and family is a very popular and effective way to round up some initial capital for a business, especially if these people are open to being active members and collaborators.  The only downside is that you are potentially risking personal relationships should the business fail and your agreement has not been structured properly.

Check that you know your future partners well, and that you trust their abilities as much as they do yours. If possible, try to work with them in a business environment, and check how your chemistry works. Be very thorough, credible, and transparent in financial calculations. You’ll lose all credibility if people find out you didn’t get your sums right in the equation, Know that it is imperative that all parties get sound legal advice. Not doing so can potentially cost you much more down the road.

Apply to local Angel-investor groups.

Angel investors are groups of local high-net-worth individuals interested in supporting startups, willing to syndicate significant amounts for qualified startups, Use online platforms and local networking to find ones that relate to your industry, as much of it has to do with timing and leveraging the right contacts. A large amount of trust can be built, therefore increasing your chances of getting a loan by vouching your early stage investors their money back plus interest through a Promissory letter

Useful links :

https://www.angelinvestmentnetwork.co.uk/

http://www.beaconcapital.co.uk

Bartering

Trading equity or services for startup help might sound old-fashioned, but you may benefit enormously by giving it a chance. Swapping your company’s services or products is a good way to save on cash expenses and perhaps move inventory that you have had for a while. An example would be negotiating free office space by agreeing to support the computer systems for all the other office tenants. Another common example is exchanging equity for legal and accounting support.

Request a small-business grant.

Not easy to come by, due to very strict conditions and regulations, small business start-up grants are, however, a great option and there is without a doubt funding available to those in the know. Use the above links to you locate business grants, steer through the application process and find out more about organisations that provide grants. It is definetaly worth your while,

Useful links :

https://www.gov.uk/set-up-business

http://smallbusiness.co.uk/financing/government-grants/page/2

https://www.princes-trust.org.uk/help-for-young-people/support-starting-business

http://www.seiswindow.org.uk

http://granttree.co.uk/innovation-grants

Crowdfunding

Although a relatively new concept, Crowdfunding has become an amazingly popular option, mainly amongst Youngtrepreneurs. Using the potential of new technologies, you have the ability to make your offer known to astoundingly large audience, thus being able to amass substantial funds (often millions), with very low individual contribution.

However organizing, implementing, and completing a crowdfunding campaign that attracts a large crowd’s attention means that you have to be open and accept getting very public about your business or project and face questions from total strangers on pretty much anything, from what you are planning to do, to quite personal questions about yourself, to the point of breaching your private space. 

Useful links :

https://www.crowdcube.com

https://www.seedrs.com

https://www.kickstarter.com

Other Options

Under the circumstances, options like bank or private investment loans, and franchising should be considered rather unrealistic, as the required collateral probably does/not exist.

“It has become appallingly obvious that our technology has exceeded our humanity”– Albert Einstein

During the past century, Technology has radically changed our world, providing solutions that even a wild visionary’s mind could not conceive. But as this phenomenon became increasingly prominent not only in every field of science and human knowledge, but also in all aspects of our everyday lives, we get the feeling that technology is becoming more of an unwelcomed invader rather than a comforting presence that leads to progress and prosperity.

The new trend is called “retrieval from Modernism

According to sociologists, the problem actually lies in the accelerating speed of changes, as some people simply can’t get to grips with what’s happening, while the young have little or absolutely no conception of what went on until just before they were born, and that’s truly a very unpleasant situation, any way you look at it.

Startling though it may be, the fact remains that Youngtrepreneurs are around the same age as the Internet, an astounding innovation that marked the birth of globalization. And it is good for all young people who are ready to enter the world of business holding their smartphones and tablets, and making every move through mobile apps, to know that almost without exception, no major CEO or successful entrepreneur over the age of 50 had the faintest idea what a mobile phone was during their formative years or when they started their careers (English business magnate Richard Branson was 21 when the UK’s first GSM mobile phone network was introduced.)

Technology is good for you, it can help you become a great entrepreneur, plus it is a great boost to your business venture, but never forget that to benefit from technology, as well as to succeed in business, your greatest weapon is your mind.

Working with Technology or The presence of Technology in the workplace

“One machine can do the work of fifty ordinary men. No machine can do the work of one extraordinary man”– Elbert Hubbard

The use of Technology in your business startup can be seen through two scopes, which for clarification purposes will be called Automation and the Web.

Automation refers to all the high tech tools or gadgets we use to do what we are supposed to be doing in the course of providing our product or service. For the savvy entrepreneur, automation had never been an issue, as it not only makes our work more efficient, creative, and pleasurable, but it is the most cost-effective way to produce, which in the long run makes it a brilliant investment. Prudence and common sense was all it took to define your project’s needs, prior to the 21st century careless, mindless, and entirely out-of-proportion raid of “goods” impending from across the globe, distracting, annoying and confusing most of us.

Still, any second thoughts about this matter should be abandoned at once, as Youngtrepreneurs who have faith in themselves know how to make the best of what high-tech has to offer, avoiding at the same time marketing and commercial glitches, such as absurdly expensive, inefficient or altogether useless equipment. And come to think of it, professional equipment is not that expensive, as a desktop is often cheaper than the desk it’s placed on, and your laptop is often cheaper than the armchair or couch you’re sitting on while you are waiting to see a client or an associate.

As for the Internet, things are defined more clearly in terms of using it as a work tool, and in fact some of its characteristics and qualities (long-term impact, multimedia character, global nature) make it an ideal place for your innovation startups.

Amongst other things, and on top of all, this is what you get through your connection to the web:

• Nearly all your communication needs are met through email, Skype, Social Networks, etc.

• Create your website and you create your web presence

• Networking, Marketing and Advertising? Not a problem-plenty of options.

• Sales and Distribution of services can be executed via an online platform

• Retrieve information, updates, and feedback concerning your company

But the wonder of the Internet is that it can actually be your virtual workplace, whether you are at an office, your home, or even on the go. There are lots of ideas and lines of work that you can pursue at token to zero cost.

An especially popular activity amongst modern consumers is shopping on line, and consequently a the venture of choice for a great number of novice entrepreneurs is e-commerce, thanks to its unique strongpoints and relatively insignificant drawbacks. The amazing result is that there are few products or services consumers cannot buy on line, and if they choose to do some market research, they can easily get best price or top quality or value for money, whatever suits them best. For some, this means saving time and money, and the convenience for those who lack either or both is immeasurable.

Nevertheless, Youngtrepreneurs shouldn’t forget that for those who can afford it, conventional shopping does have some added value: activities such as window shopping, strolling through the market, even haggling and socializing are an important ingredient of the shopping experience. And isn’t the feeling soothing when passing from an open street market, with all the wonderful smells, or visiting a bazzar (such places are considered tourist attractions).

Anonymity and cold transaction can be softened considerably with sociably responsive customer service, friendly forums, and the outgoing presence of your venue in social media, a policy that has already become a trend, as you, as a perceptive consumer have long realized.

Organise virtual teams A virtual team (also known as a geographically dispersed team, distributed team, or remote team) putting together a group of individuals who work across time, space and organizational boundaries with links strengthened by webs of communication technology

You don’t really have to be a computer expert to follow this lead, it just takes a bit of briefing and practice; in most cases you shouldn’t come as a surprise if you already have the technical knowhow,

“Leadership is a potent combination of strategy and character. But if you must be without one, be without the strategy.”– Norman Schwarzkopf, United States Army general.

Daunting though it may sound, it is important for Youngtrepreneurs to understand that the job of running their own business can, in more than one aspects, be more complicated than the duties of the CEO of a major company or an Armed Forces general. Granted, the gravity of the situation widely varies as sizes and numbers differ, while in the case of warfare, human lives are also at stake. Still, regardless of the fact that the insight, performance, and communicative approach of a CEO can make the difference between success and failure, while the perspicacious character of a general will put its mark on victory or defeat, with whatever consequence in either case, the passionate desire of young people to search, find and credit themselves through the actual and pragmatic realisation of their dreams, while making a decent living at the same time should not be waived as frivolous or regarded as petty and relatively easy to achieve.

On the other hand, it might seem pretentious to mention, let’s say, organisational development to a young man who plans to sell stationery on line, or a young woman who wants to be a self-employed ballet instructor (or vice versa), but in both cases there are certainly issues you need to consider, actions you must take, and costs you must measure before taking the first step towards the founding of your business, becoming its leader, and being your own boss in every sense of the term.

For the sake of proving these arguments, we will consider the aforementioned ideas as case studies, and try to focus and elaborate on the details and parameters concerning the two. We will also accept that you have developed some passion, together with acquiring adequate knowledge, training, and possibly some working experience on your concept of preference. If so, and provided that you have gone through the initial stages of validation and market research, you will have certainly realised that there’s plenty of competition-to the point of saturation- in both fields, so you will definitely have to make a difference in order to infiltrate the market, and take a “piece of the pie”. Well, that would never be a concern of a general, would it?

In the case of selling stationery online, your main objective would be to find an inexpensive wholesaler that will supply you with the merchandise at reasonable terms so that you can provide your customers with value for money products, as this is what you are up against: http://www.theworks.co.uk/c/stationery. Do you realise how much dedication, persistence, and know-how this entails? As for promotion, there are actually plenty of choices on an Internet environment, but then again, what about people who actually use stationary and supposedly don’t spend much time on line, purchasing what they need from shops in their local

“You must be the change you wish to see in the world”. – Mahatma Gandhi

“Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.” – Peter Drucker

Once the notion of starting your own business comes into your mind, a number of questions, doubts, and reservations suddenly arise, taunting your initial enthusiasm with a touch of bitterness. But all these thoughts, however disorientating, should be dealt with as nothing more than the defense of a prudent mind against acting on a compulsion.

What does being an entrepreneur entail?

“It is always the start that requires the greatest effort.”-James Cash Penney

The answer to this first fundamental question comes with the realization of one plain fact:

You are your business, and your business is part of you!

You are the one who holds the turnkey, that is to say the plan, program, and project, as well as the method, or system where you, the provider/ entrepreneur undertake the full and entire responsibility- from design through solution, commissioning, and completion. It is in your hands to make everything function as it should, so that the potential clients are attracted and served to their full satisfaction.

Without question, being a youngtrepreneur is not an easy task, and the harsh reality of the market shows that not everyone can do it successfully. Which brings us to the ever-lasting question:

What is the secret of success?

“The road to success and the road to failure are almost exactly the same.”- Sir Colin Rex Davis, English conductor.

Tonnes of suggestions and claims can be found coming from all sorts of people with different backgrounds. But the truth is that there really is no secret, and the best thing that you can do to reach success is to try and be the best you can be, be the best at what you do.

The key to that goal is a combination of Personal Qualities and Assets, a field you must assess, explore, and fully exploit, as well as a number of special Skills and Traits, all of which can be enhanced to a high level with education, training, and guidance coming from a mentor. This all comes down to hard, hard work, and-make no mistake- that is what it takes to succeed. The very few exceptions where people might have been more gifted or fortunate simply verify the rule.

Last thing (and this does not really qualify as a secret): Starting out on your business venture, know that you’re not going on a cruise to the Caribbean, but sailing on a rampant voyage against ferocious torrents and gales, so go at it hammer and tongs, and success will be waiting at the first safe haven.

Is an entrepreneur born or made?

As previously described, it is most certainly a combination of the two. Our personality is almost fully formed in our foundation years, and our personal characteristics and idiosyncrasies decisively influence our professional profile. For instance, it would be unwise for a person whose top priority is job security to pursue a career as an entrepreneur, as risk management is one of your top priorities when running your own business. On the other hand, however, job security is an extremely rare commodity in a quite uncertain, crisis-burdened market. So to break the vicious circle, any aspiring entrepreneur should start by knowing themselves, and then build belief in themselves. (Promote Generator Tool)

Make Yourself the Best Entrepreneur You can be

As soon as you have established that your personal assets match your business concept, and having verified your passion and determination to fulfil your aspiration, you must then take action towards your Self- Development, and the building of your Entrepreneurial Skills. By adopting a flexible attitude towards molding yourself to fit the part of a business owner . With the help of  (Promote Skills Tool and use writeups) the path to prominence and success will be wide open.

Tonnes of suggestions and claims can be found coming from all sorts of people with different backgrounds. But the truth is that there really is no secret, and the best thing that you can do to reach success is to try and be the best you can be, be the best at what you do.

The key to that goal is a combination of Personal Qualities and Assets, a field you must assess, explore, and fully exploit, as well as a number of special Skills and Traits, all of which can be enhanced to a high level with education, training, and guidance coming from a mentor. This all comes down to hard, hard work, and-make no mistake- that is what it takes to succeed. The very few exceptions where people might have been more gifted or fortunate simply verify the rule.

“Leadership is a potent combination of strategy and character. But if you must be without one, be without the strategy.”– Norman Schwarzkopf, United States Army general.

Seen from a clearly technical perspective, starting a bona fide business requires, mostly and above all, leadership skills, both in the typical, and the wider organizational sense of the word. Inextricably connected to the concepts of strategic planning, developing, and managing resources (human or other), operating in a business startup environment calls for a nous for business that can create a unison of personal values and targeted skills, together with the practical concentration, and rational handling of the above within an entrepreneurial concept.

As a Youngtrepreneur, you will have to get inured to the idea that the concept of leadership also applies to your own person, as you are your own boss and play two different roles: is is you that gives the orders and instructions, and it is you that follows and carries them out.

Youngtrepreneurs, CEO’s, and Generals

Daunting though it may sound, it is important for Youngtrepreneurs to understand that the job of running their own business can, in more than one aspects, be more complicated than the duties of the CEO of a major company or an Armed Forces general. Granted, the gravity of the situation widely varies as sizes and numbers differ, while in the case of warfare, human lives are also at stake. Still, regardless of the fact that the insight, performance, and communicative approach of a CEO can make the difference between success and failure, while the perspicacious character of a general will put its mark on victory or defeat, with whatever consequence in either case, the passionate desire of young people to search, find and credit themselves through the actual and pragmatic realisation of their dreams, while making a decent living at the same time should not be waived as frivolous or regarded as petty and relatively easy to achieve. On the other hand, it might seem pretentious to mention, let’s say, organisational development to a young man who plans to sell stationery on line, or a young woman who wants to be a self-employed ballet instructor (or vice versa), but in both cases there are certainly issues you need to consider, actions you must take, and costs you must measure before taking the first step towards the founding of your business, becoming its leader, and being your own boss in every sense of the term.

For the sake of proving these arguments, we will consider the aforementioned ideas as case studies, and try to focus and elaborate on the details and parameters concerning the two. We will also accept that you have developed some passion, together with acquiring adequate knowledge, training, and possibly some working experience on your concept of preference. If so, and provided that you have gone through the initial stages of validation and market research, you will have certainly realized that there’s plenty of competition-to the point of saturation- in both fields, so you will definitely have to make a difference in order to infiltrate the market, and take a “piece of the pie”. Well, that would never be a concern of a general, would it?

In the case of selling stationery online, your main objective would be to find an inexpensive wholesaler that will supply you with the merchandise at reasonable terms (others are looking as well),  so that you can provide your customers with value for money products, as this is what you are up against: http://www.theworks.co.uk/c/stationery. Do you realize how much dedication, persistence, and know-how this entails? As for promotion, there are actually plenty of choices on an Internet environment, but then again, what about people who actually use stationary and supposedly don’t spend much time on line, and purchase what they need from shops in their local market? There are ways to get to local customers, but certainly a general wouldn’t have to worry about that, either.

In the case of teaching ballet, an entirely different game is played. No matter what your performance qualities are, you must also be able to transfer a skills set and train children of a very young age, which is an entirely different issue altogether. And on top of that, you are going to have to find students outside your circle of family, friends, and acquaintances, as it is unlikely that this pool would have enough aspiring performers. Being basically an artist, chances are that your self-promotion, marketing and sales skills would be somewhat limited, and that you would be hesitant, if not unwilling to undertake such tasks, and inaugurate the role of self-promoter. Finally, and in contrast to what a CEO would be responsible for, you will have to ensure access to premises of some sort (you can’t teach ballet on line), and that is yet another bother that can lead to distraught and procrastination,

Supposedly, in the course of running their business, solepreneurs have no leadership issues, as far as human resources are concerned, but that applies to a limited number of cases, and even then it is true to a certain degree. Admittedly, you can’t be knowledgeable as well as resourceful on all matters; therefore you cannot go very far working on your own. From the moment you employ even a temporary helper or an apprentice, your part as a leader begins to roll.

Hiring people

When hiring and managing people to work in your business, things can be very simple or quite complicated. You will be helped greatly if you follow these tips:

  • Try to make your employers engage your vision and way of thinking
  • Establish yourself as your group’s leader
  • Let your staff know that you value their opinion
  • Be open to suggestions coming from every level
  • Don’t hesitate to offer work to temps or apprentices, though this would entail much coaching and monitoring

Marketing Overview

In very simple words, Marketing means placing your product or service on the market. Communicating or showcasing the value of a product, service or brand to customers or consumers for sales purposes is what marketing does. A complete marketing strategy should be designed to as to identify and meet customer needs and requirements.

Marketing Channels

Although not officially acknowledged by marketing experts, the simplest and still quite effective natural form of marketing is ‘word of mouth’ where happy consumers transfer their positive (or negative) experiences of a product, service or brand in their everyday communications with others.. Nowadays, the Internet has provided an electronic ‘word of mouth’ where consumers can actively engage in rating goods and services. 

According to statistics web marketing and promotion email seem to be the more popular and effective ways of marketing, while telemarketing channels are above the social media, and way above conventional TV commercial.

Nevertheless, we must not forget that the cost of marketing should be connected to the overall sales budget, although the use of the Internet and digital technology is free, and than another plus of on line marketing.

Branding/Brand Establishment

It seems that everything you see or touch or in any way experience, carries a form of identity, a name or a symbol, not necessarily connected to the thing itself, but more probably creating a sense of familiarity, forming a sort of cultural code and setting a frame of security and consumer guidance. In today’s world, branding is invariably connected with consumer products or services; as it serves, more than anything else, the purposes of Marketing and Advertising, aiming to make a product stand out by making it special, desirable, and certainly unique.    

A brand can also be seen as an action. For example, most people today have replaced the word “search” with the word Google.  Google has established a clear branding for themselves where people know exactly what they are doing and how reliable they are. Other popular brands such as Adidas , Starbucks, and Sony are also effective names that separate their products from everyone else.

In a world where consumerism is synonymous to happiness and prosperity, the name of the game is psychology: consumers are to be convinced that the brand they are buying represents something that is both impressive and reliable, incorporating value and making them feel special and good with themselves. This was a job not for inventors or manufacturers, but for a special group of professionals: advertisers.

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Ten ways to build a brand for your small business

Branding is just as important for small businesses as it is for big names. Indeed, many corporate brands try to look more like small firms in order to appeal to consumers that prefer to support independent brands. Dan Einzg of agency Mystery explains how to develop your own brand identity. Understand that branding is not just a logo or how their business is perceived externally. But too few realise that successful brands have this branding at the heart of the business. So much so that in many ways you could almost substitute the word brand for business.

Branding is a way of defining your business to yourself, your team and your external audiences. It could be called the business’ “identity”, but only on the understanding that it embodies the core of what the business is and its values, not just what it looks and sounds like. Customers of all sorts of businesses are so savvy today that they can see through most attempts by companies to gloss, spin or charm their way to sales.

The benefits that a strategically defined brand can bring are the same as when people fall in love with each other. When customers connect emotively — because they share the same values and beliefs of a brand — it leads to higher sales and better brand differentiation. It also leads to loyalty, advocacy and can even protect your price in times when competitors rely on promotional discounts to drive sales. It can also give you the ideal platform from which to extend your offering or range.

Here are ten tips on how to successfully implement branding for your business.

1.   Start by defining your brand.

Review the product or service your business offers, pinpoint the space in the market it occupies and research the emotive and rational needs and concerns of your customers. Your brand character should promote your business, connect with your customer base and differentiate you in the market.

2.   When building your brand, think of it as a person.

Every one of us is an individual whose character is made up of beliefs, values and purposes that define who we are and who we connect with. Our personality determines how we behave in different situations, how we dress and what we say. Of course for people it’s intuitive and it’s rare that you even consider what your own character is, but when you’re building a brand it’s vital to have that understanding.

3.   Consider what is driving your business.

What does it believe in, what is its purpose and who are its brand heroes. These things can help establish your emotive brand positioning and inform the identity and character for brand communications.

4.   Aim to build long-term relationships with your customers.

Don’t dress up your offering and raise expectations that result in broken promises, create trust with honest branding — be clear who your company is and be true to the values that drive it every day.

5.   Speak to your customers with a consistent tone of voice.

It will help reinforce the business’ character and clarify its offering so customers are aware exactly what to expect from the product or service.

6.   Don’t repeat the same message in the same way over and over again.

Alternatively, aim to make your key messages work together to build a coherent identity.

7.   Don’t try to mimic the look of chains or big brands.

Try and carve out your own distinctive identity. There is a big consumer trend towards independent establishments, and several chains are in fact trying to mimic an independent feel to capture some of that market. Truly independent operators can leverage their status to attract customers who are looking for something more original and authentic, that aligns with how feel about themselves.

8.   Be innovative, bold and daring – stand for something you believe in.

Big brands are encumbered by large layers of bureaucracy, preventing them from being flexible and reacting to the ever-changing needs of their customers. Those layers of decision-makers can make it hard for them to be daring with their branding.

9.   Always consider your branding when communicating with customers.

Don’t lose your pride or dilute your brand positioning with indiscriminate discounting. Try offering more, rather than slashing prices. Promotions are an opportunity to reinforce your brand mission.

10.  The old way of stamping your logo on everything won’t cut it.

The future of branding is fluid and engaging — respect your customers’ intelligence by not giving everything away up front. Generate some intrigue and allow them to unearth more about your brand for themselves. This is the way to foster ambassadors who revel in telling other people what they have discovered.