Recipe for a Successful Business Launch

Imagine staring at a table full of great mouth watering produce, fresh oven baked bread, herbs a plenty, local farm raised beef, chicken or fish, the best cooking equipment possible and perhaps a great bottle of wine or two. Your culinary vision includes creating a lightly spiced, yet full flavored appetizer followed by an entrée basked in flavors and aromas from hours of tedious preparation and then completing this extravaganza with a delectable dessert that leaves one satiated, yet wanting more.

There is one small problem with this vision, you are an extremely successful entrepreneur, but a novice in the kitchen. How then do you create this meal? Where do you start? Do you try the recipes once before making them for friends and loved ones? Who will teach you basic knife skills, how to pick the best ingredients for each dish and how to nurture each ingredient to its fullest potential? These are just a few questions you are faced with in your quest to create the perfect meal.

You decide to venture into the culinary world on a solo journey. After a minor burn, a small cut and a poorly executed recipe, you decide to hire a Chef to train you. The Chef starts you off with basic knife skills, cooking techniques and food pairings that she has honed over countless hours in the kitchen while mastering her craft. You practice the menu with her until it is perfected and then off you go to create a sensational dining experience for your guests. In exchange for her services, the Chef asks you for help in starting her business.

She has seen so many success stories and seeks your advice to prevent the all to often restaurant failure. She has a vision of a restaurant filled with happy patrons who crave her food and desire the great service. They come back again and again, but how does she start this business?

She is staring at a desktop piled high with how to manuals, various business plans and countless business books. She doesn’t have the first idea of where to start. What she needs is a recipe for success.

As the Chef walked you through the various challenges of preparing your glorious meal, you will guide her through the process of opening a business. This task may be daunting for some, yet it illuminates your strengths.

You and the Chef agree to a recipe, that when followed, should lead to a successful launch of her business. Here is your secret recipe:

1. Utilize resources that help get the idea onto paper. Plan, plan, plan. This is the most important, yet most frequently overlooked part of business creation. Can you ever remember hearing a successful business owner say, “I planned too much?” Countless resources are available which include business plan building software, free or paid for business counselors, business consultants, countless how to books and the often times underutilized mentor. It is vital for your success to have a clear and precise understanding of what your business will provide and who the target customer is. Have clearly stated operational objectives that include entrance into the business world and a clear exit strategy.

2. Create the entity. Decide on how to legally set up your business. Some choices included a sole proprietorship, a Limited Liability Company, a corporation, partnership or charity. Make certain to identify the pros and cons of each entity and all of the regulations associated with each including liability protection. Once the entity has been chosen, create the appropriate bank accounts prior to initiating any business transactions. Secure an Employer Identification Number (EIN) from the IRS for proper handling of all tax matters.

3. Determine the legal requirements. Check with local, regional and state entities and request information on the minimum expectations that are required of you to operate your business legally. Requirements may include registering with a department of revenue for tax collection agency, operating permits or licenses, health or fire inspections.

4. Build Business Infrastructure. Review your business plan and decide what type of support systems and materials you will need to build the business. Are you starting your business out of the garage, the back of your truck or with bricks and mortar? You should have a budget created from your business plan for support materials such as office supplies, computer equipment and software, internet access, credit card processing, membership fees and other support services you deem as an important part of running your business.

5. Create vital assets. Website design, trademarks, logos, intellectual capitol, copyrights and provisional patents are just a few things to consider. Often times employment contracts and confidentiality agreements are part of this process. Once created, ensure that you have policies and practices in place to protect and retain these assets.

6. Acquire financing. The financial overview and objectives should have been clearly defined as part of the business plan. It is now time to get the financing into place. It could be your savings, partnership cash or outsider investment dollars. If possible, seek counsel to review any and all financial agreements you may enter into. Each party involved must be absolutely clear as to the financial expectations of each other.

7. Establish operational logistics. Many start up companies have limited resources for accountants, lawyers and insurance needs. Additional considerations include Information Technology staff, banking, E-Commerce and website design personal. Training and Human Resources are two more areas that are often overlooked. There are countless tasks for any business owner to contend with and creating a support team is vital for their success.

8. Hire people. Acquire the very best human capitol and retain them. Outside of sole proprietors, businesses live and die by the quality of the operations team. Hiring and training are two very large investments of money and time. Establish consistent hiring and training methods that yield loyal and long- term employees who will aid in the growth of your organization. Forward thinking employers find ways to tie in employee compensation to company performance.

9. Get the message out. Market your business! There are a myriad of ways to accomplish this task and remember to stay focused on your plan. Make sure your brand’s message is memorable, clear, precise and it differentiates you from your competition. Consider your web site design, mobile connectivity to supplemental sites and the numerous avenues to open communication channels with your potential customer.

10. Open the doors, execute and Sell! Market research has been completed and a research strategy has been implemented. You have identified your potential customer and their purchasing habits. Your goal now is to under promise and over deliver to ensure optimal customer satisfaction. Embrace feedback and create powerful recoveries as needed. Fabricate long lasting customer relationships through outstanding products and services; repeat.

Give five chefs the same ingredients and ask them to execute the same recipe. You will end up with five similar, yet very different dishes. The same would be true with five different entrepreneurs and these ten steps. There is not one sure-fire way to accomplish the arduous task of creating a business. However, just like a finely tuned gastronomic creation, plenty of planning, attention to detail, a lot of hard work, the right timing and a little luck go a long way towards the successful launch of a new venture.

Bon Appetite.

Successful Business – Why Some Businesses Succeed And Why Others Don’t

Do you know there is only one ingredient that separates
successful businesses from unsuccessful ones? That
single ingredient is simply none other than how the
business owner(s) think.

The reason why some people succeed in business and
others don’t is that most business owners are negative
thinkers, and they don’t even realize it. They start a
business, but lack confidence in their own ability to
succeed in their business.

A lot of unsuccessful business owners have the
entrepreneurial spirit, but they lack focus – often jumping
from one business opportunity to the next. Most of them
have never taken the time to set clear-cut goals for their
business. They tend to be more concerned about how
much money they are going to make, rather than on what
potential customers want.

On the other hand, if you observe successful business
owners, you will notice how well their minds are focused
on success. They are positive, optimistic thinkers. They
do not jump from one business opportunity to another.

When they first start out, they do not scatter their energy
by starting and running several businesses all at once, but
instead will take the time to nurture and build one
business or product line upward (horizontally). They have
a success-consciousness, and are horizontal business
builders, instead of vertical business builders. They know
that it takes time and hard work to build a successful
business.

Unsuccessful business owners tend to be impatient, and
expect to get rich overnight. They are unrealistic in their
goals, and want instant results. They often blame others
when profits are slow in coming, and will give up when the
going gets tough.

But, successful business people are fearless in their drive
to succeed. They will take immediate, massive, repeated
action to achieve their goals. They will never give up until
they make their dreams a reality.

They are more concerned about customer satisfaction,
inspiring trust in prospective customers, and building long-
term relationships with their customer base… the factors
that create success. They place more emphasis on
selling good products and services, than on making
money. They know and understand that the ultimate
reward of customer satisfaction is financial (monetary)
success.

Some successful business people are well educated and
some are not, as far as a formal education is concerned.
What sets them apart from unsuccessful business owners
is that their mind stays focused on success, regardless of
the obstacles in front of them.

If you are to achieve success in business, it is important
that you maintain a success consciousness. You must
keep your mind focused on the road to success, not the
obstacles you encounter on the road to success.

When you know your purpose for being in business, you
cannot be led astray by circumstances, words, or other
business opportunities that have nothing to do with your
goals. You must train your mind to focus on the end
result – the goals-you want to accomplish, not your
obstacles.

If you do, you will be able to achieve practically any goal
you choose for your business.

5 Best Kept Secrets to Set Up a Successful Business

In this article I show you the 5 best kept secrets to set up a successful business. Keep them in mind, absorb them and you will see the success will come after you!

Many roads lead to Rome. Let’s make that clear at first. There is no book or person who can tell you: If you do it this way, you will always succeed. It’s hard to tell, why some people do and why some people do not get success. When I started doing business, the success stayed away for a long time. I was desperate at times. Why am I not successful? I kept wondering. I work so hard, my product is good and I am not an uncomfortable person to do business with. Jealous I looked at the people who were successful and tried to find the reason. Why them and not me? This way of thinking, I continued for two years. Until I realized that this way of thinking will not bring me any step further. I started to look more at myself and stopped trying to search for the reason of success of others. I adjudged them their success and focussed on myself. This brings me to the first secret to set up a successful business.

* Think and stay positive

Especially when you occur setbacks, put yourself over it and move on. Be positive about yourself, to others and adjudge everyone their success. Negative thoughts should immediately be removed. Focus on your own success and stay to it!

Well, that’s easy. Think positive and now what?

This brings me two secret number 2.

* Enjoy doing business

Make sure that there is time for making fun. It makes no sense keep on swimming against the tide very hard. Turn around and see what it will bring you. Trust, that it is okay, to let go sometimes, think positive and see what happens. It will really surprise you. Do not feel guilty if you do have that extra cup of coffee while enjoying the sun. Enjoy the fact that you are an entrepreneur and you can determine your own time schedule.

Enjoying your work, is not so hard to do, is it? What is next?

* Live healthy

As an entrepreneur you have to work hard for your success. That’s okay, but you should be capable to do that. I sleep six to seven hours a night. I do not need more hours. The reason for this, is because I’m fit. I eat healthy, sport a lot and have relatively little stress. It is okay to sleep less hours when I am thinking of great new ideas while I am laying in my bed. Those lack of sleeping hours belong to my way of living. The next day I will be fully focused again and I am never sick.

it all seems so obvious isn’t it? Well let’s continue.

Maybe one of the most important secrets is the next one.

* Accept the success and amaze others

Gradually I got the success that I worked so hard for, but somehow I dared not to accept it. I thought it was strange that I had success and found it a little bit scary. People suddenly want something from you, will I not disappoint them? Do I really want this? Yes!! This is what you have strived for, otherwise you would not have never started it. Just accept it, enjoy it, take your responsibility and overwhelm other people in all their expectations. In fact, amaze them with your product or service. Always give that little extra, which they don’t expect. Even though you may not get back. Especially in these times of crisis, this is the way to distinguish yourself from the rest. People are going to talk about you and this will lead to the desired snowball effect.

Ho, stop what is going on here? People take it easy! This could be a summary of your thoughts, which includes the last secret.

* Be true to yourself, respect where you came from and respect others who are still there

You get busier and busier. And you notice that more and more people want something from you. Now you need to keep in mind where you came from. In the beginning, you were disappointed too when people didn’t answer your emails. You had to call people yourself, to persuade them to do business with you. Respect others who are now at that stage. So treat them like you wanted to be treated back in the days. Answer all emails, never be arrogant or set yourself above other people. Do not think you are better than anyone else. Make sure you still be the nice person to do business with. No matter, who the other person is. So, do not make the same mistake as many others do. They became cocky simultaneously with the success. It will work against you and even the cocky people will notice that once. Although they might be too proud to admit it.

With these 5 secrets in mind I am convinced that at least you will be on the right track to success and mostly stay on that track.

I wish you all the best!

Tjalling

5 Strategies Most Successful Businesses Use Online

Most successful businesses found online typically share certain characteristics insofar as the strategies they use. Their basic philosophy is built around the attitude of taking action when and where needed with minimal hesitation. However marketing an online business also involves the use of a good deal of strategic thinking so that the actions taken proved to be as productive as possible! The bottom line is marketing success on the internet calls for the need to think fast and move even faster.

Here are 5 basic strategies commonly used when marketing an online business that seem to yield successful results for many time and again!

Apply Initiative

Avoid duplicating the ‘cookie cutter’ approach when possibly if the opportunity to customize a something is available to you! Do not select any approaches or strategies based upon how simple they may be to apply when marketing an online business. In most cases there are always ways to tweak or improve that which is already in existence. By doing so you are already distancing yourself from the crowd!

Keyword Selection

Most suggest or are proponents of selecting keywords for their business that are NOT highly searched upon since they are deemed to be too competitive. Well keyword use is for the sake of generating traffic, right? It would seem that those words and phrases that reflect the greatest search results would also bring you the most traffic and therefore more marketing success as well! Using these words and phrases for traffic generation would seem fine, just avoid trying to rank a website or blog using them since these results may take longer!

Watch the Crowd, Go in the Opposite Direction

Although success does leave footprints, use the accomplishments of others as a source for developing new ideas and/or concepts! The key to marketing an online business successfully is to have something that stands out from the pack. You can still be different while employing the same principles others have used in the past that gave then great results! It would only stand to reason that if ‘everybody’ is doing the same thing it will be harder for you to compete!

Forget the Small Stuff

Avoid the temptation of getting too hung up in small and insignificant details! It is absolutely vital to move beyond the planning stages if marketing success is to be yours and this requires taking action! Planning is great and obviously needed however unless active measures are taken to implement your plan nothing will never happen, period!

Fear Not Failure

Do not ever allow a fear of failure keep you from taking action since you will NEVER learn anything new nor will you succeed at most anything. Just about everything you do or have done in life initially presented some type of learning curve which meant the chance you may not get it right the first time! By allowing this fear to hold you back you are cheating yourself out of new experiences, accomplishments and of course the opportunity to learn something new! Failing is learning so get that straight and fear it no more!

Most successful businesses realize the need for taking a more individualized approach in order to set themselves apart from their competitors. This approach encompasses not only those strategies used for marketing an online business but also personal philosophies and attitudes as well. By keeping a focus on their primary goals and avoiding becoming entangled in details and personal fears marketing success becomes easier to achieve! The 5 simple strategies offered above serve to show how practicing a little initiative and not sweating the small stuff when marketing an online business makes you more productive! In the end it all depends upon your ability to shed your inhibitions allowing you to be more decisive when taking action in order to grow your business successfully!

Tricks and Tips on How You Can Become a Successful Business Owner

If you are going to risk your money and time in your own business, you must have a strong feeling that you will be successful. These strong feelings must exercise a high level of authority to get things done.

Studies around the world have shown that most business owners share common traits and characteristics that have made them to become successful business owners. Among these characteristics are those that distinguish the person who opens a business from the person who works for someone else.

These studies investigated successful and unsuccessful owners, some of whom went bankrupt several times while others became successful only after the first or second trial. These characteristics they share might almost predispose a person into trying to start a business.

Some of the most predominant characteristics you require to be successful business owner include:

If you want to open your own business, you must have a strong ‘need for achievement’. This ‘need for achievement’ is a psychological factor of motivation which measures your level of success in business.

Another characteristic for a successful business ownership is risk taking. When you want to start and manage your own business, you must see risks as factors that you can control to your own advantage.

Other characteristics you should possess to be among successful small business owners are business drive, thinking ability, competence in human relations, communication skills and technical knowledge.

In summary, if you are considering starting or running a business, here is a list of character attributes that make you a successful business owner:

· Be very entrepreneurial
· Always ‘step up to the plate’ when an opportunity arises
· See opportunities where everybody else does
· Avoid procrastination and make things happen
· Be full of optimism
· Accept mistakes as an opportunity to learn from failures
· Be motivated by your personal success and thrive to achieve it
· Know how, when and where to invest
· Be a time manager and not a time waster
· Be influential and persuasive
· Be surrounded by smart people with similar goal and vision
· Be up to date with business sense and intelligence
· Be fearless at challenges and obstacles on your road to success

Therefore if you want to run your business successfully, you must be ready and willing to put all these attributes into action. You also need to be ahead of your competitors by being well informed of modern business tricks and methodologies. This way, you will always be on the leading edge over your rivals. Seek more advice from your financial adviser today.