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Casual Articles - 5 Steps To Help Fail-Proof Your Growing Service Business
Home businesses can be great tax shelters. Millions of Americans have some sort of office in their homes. If you are one of these lucky people and meet the IRS requirements found in IRS publication 587, you can take deductions for expenses related to the business use of part of your home.If you want to know if you qualify the IRS requirements to claim expenses, you need to meet the following three tests: • Exclusively and regularly as your principal place of business. • Exclusively and regularly as a place where you meet or deal with customers • In connection with a trade or business. If you qualify to cl
Subscribe to their mailing list. Visit their premises. Talk to their staff. Talk to their customers. Read their ads (or notice that they don't advertise). Network with them.
You can learn just as much from non-competing businesses too. So why not set up a support / learning group or see if a successful entrepreneur would be able to mentor you.
#3. Have A BIG Goal
Big goals, by definition, should be easier to hit than small goals. So don't think small - think big.
After nearly 8 years in business I still like to set regular, big, 90 day goals. I call these goals SHAGs - Short Hairy Audacious Goals.
Too many businesses focus on surviving. They think
Hook-loop fasteners are a two-faced fastening system whereby one face is covered in tiny nylon fibers with little hooks on the ends of them, and the other face is covered in tiny nylon loops. When the two faces are pressed together, some of the hooks burrow in and catch onto the loops. The tighter the two faces are pressed together, the more catches that are formed. This forms a powerful bonding system that can support great amounts of weight. You can’t pull the faces of the hook-loop fastener directly apart; rather, you must pull a few hooks and fibers apart from the one of the edges of the two-face bond. When you continue pulling, the hooks an
In The USA...
- Every Year Over 1 Million People Start A Business
- By The End Of The First Year 40% Of Them Will Be Out Of Business
- Within 5 Years More Than 80% (800,000) Of These Businesses Will Have Failed
(Source: The eMyth Revisited, Michal E Gerber, US Department of Commerce)
In The UK...
- 2003 Saw 423,100 New Businesses In England & Wales Startup
- Over Half of All New Firms Fail In The First 3 Years
- At Least 211,550 Of These Businesses Will Have Failed Before The End Of 2006
(Source: Barclays SME Market Research Team England & Wales Statistics Based On Business Current Account Customers)
Unfortunately more and more people are being encouraged to go it alone by government agencies and banks while being given out-dated advice that doesn't actually work.
The advisors in these organisations typically have experience in larger production / manufacturing / financial businesses and share marketing advice that really doesn't work for the majority of small service-based businesses today.
Their text-book marketing principles simply do not translate to businesses with limited money to invest in advertising, direct mail and telesales.
In many cases these advisors are telling people how to run a business even though they're actually working for a bank or government agency themselves. They have no real experience spending their own money to grow a business.
Survival and inevitable success means being lean, mean and focused on getting a genuine result (in the form of profit) from the time and money you invest.
So here are 5 tips you can use to take the power back and begin "fail proofing" your growing business today.
#1. Question "Experts" Thoroughly
Be wary of government funded trainers and / or advisors put forward by banks.
These people, in many cases, don't have a clue what its like to run and grow their own business. Make it your job to "suss them out" before taking anything they tell you too seriously.
Some questions that I like...
What's your experience of starting and running a small business?
Have you actually spent your own money trying to make a business work?
What mistakes have you made? What lessons can I learn from your experience?
Will this advice / support / idea cost me money or make me money?
Who really benefits when I take the course of action you're recommending?
#2. Model Excellent Businesses
Now by this I don't mean simply copy random things they do.
Just because the boss of a successful firm like yours drives a brand-new Bentley it doesn't mean you should rush out and buy one too. That won't guarantee success.
You're looking to find the things that she did in order to afford the Bentley in the first place.
So find out as much about their processes and systems as you can and then look for evidence to support applying similar things that work for them to your business.
Subscribe to their mailing list. Visit their premises. Talk to their staff. Talk to their customers. Read their ads (or notice that they don't advertise). Network with them.
You can learn just as much from non-competing businesses too. So why not set up a support / learning group or see if a successful entrepreneur would be able to mentor you.
#3. Have A BIG Goal
Big goals, by definition, should be easier to hit than small goals. So don't think small - think big.
After nearly 8 years in business I still like to set regular, big, 90 day goals. I call these goals SHAGs - Short Hairy Audacious Goals.
Too many businesses focus on surviving. They think
Wouldn’t it be great to have an elevator at home especially if it is very difficult to climb the flight of stairs? This will be very convenient for those who use wheelchairs and the good new is, it exists.The elevator wheelchair lift is a miniature version of the kind often seen in offices and hotels. Though these are not high speed, it can still take on the job of bringing a disable person up or down in the home.There are various models available. There are those that can go up or down and there are those that do this diagonally. The different types also allow the person to exit on the opposite side where one came in, on the side
The advisors in these organisations typically have experience in larger production / manufacturing / financial businesses and share marketing advice that really doesn't work for the majority of small service-based businesses today.
Their text-book marketing principles simply do not translate to businesses with limited money to invest in advertising, direct mail and telesales.
In many cases these advisors are telling people how to run a business even though they're actually working for a bank or government agency themselves. They have no real experience spending their own money to grow a business.
Survival and inevitable success means being lean, mean and focused on getting a genuine result (in the form of profit) from the time and money you invest.
So here are 5 tips you can use to take the power back and begin "fail proofing" your growing business today.
#1. Question "Experts" Thoroughly
Be wary of government funded trainers and / or advisors put forward by banks.
These people, in many cases, don't have a clue what its like to run and grow their own business. Make it your job to "suss them out" before taking anything they tell you too seriously.
Some questions that I like...
What's your experience of starting and running a small business?
Have you actually spent your own money trying to make a business work?
What mistakes have you made? What lessons can I learn from your experience?
Will this advice / support / idea cost me money or make me money?
Who really benefits when I take the course of action you're recommending?
#2. Model Excellent Businesses
Now by this I don't mean simply copy random things they do.
Just because the boss of a successful firm like yours drives a brand-new Bentley it doesn't mean you should rush out and buy one too. That won't guarantee success.
You're looking to find the things that she did in order to afford the Bentley in the first place.
So find out as much about their processes and systems as you can and then look for evidence to support applying similar things that work for them to your business.
Subscribe to their mailing list. Visit their premises. Talk to their staff. Talk to their customers. Read their ads (or notice that they don't advertise). Network with them.
You can learn just as much from non-competing businesses too. So why not set up a support / learning group or see if a successful entrepreneur would be able to mentor you.
#3. Have A BIG Goal
Big goals, by definition, should be easier to hit than small goals. So don't think small - think big.
After nearly 8 years in business I still like to set regular, big, 90 day goals. I call these goals SHAGs - Short Hairy Audacious Goals.
Too many businesses focus on surviving. They think
Some things are simply a mystery and so goes the perceived role and importance that the Critical Care Transport (CCT) RN plays in the healthcare field. Other professionals seem to view us like mutts - a little bit of everything but certainly not a thoroughbred in anything.I once heard a co-worker describe the job as something between a magnified EMT and a bench warmer. Such flattery - but what can you do?Anyhow, I just wanted to set the record straight, so to speak, by pointing out the value and importance that the CCT RN brings to the table.What's so ironic about the perception is that most CCT RN's are veteran nurses from
Survival and inevitable success means being lean, mean and focused on getting a genuine result (in the form of profit) from the time and money you invest.
So here are 5 tips you can use to take the power back and begin "fail proofing" your growing business today.
#1. Question "Experts" Thoroughly
Be wary of government funded trainers and / or advisors put forward by banks.
These people, in many cases, don't have a clue what its like to run and grow their own business. Make it your job to "suss them out" before taking anything they tell you too seriously.
Some questions that I like...
What's your experience of starting and running a small business?
Have you actually spent your own money trying to make a business work?
What mistakes have you made? What lessons can I learn from your experience?
Will this advice / support / idea cost me money or make me money?
Who really benefits when I take the course of action you're recommending?
#2. Model Excellent Businesses
Now by this I don't mean simply copy random things they do.
Just because the boss of a successful firm like yours drives a brand-new Bentley it doesn't mean you should rush out and buy one too. That won't guarantee success.
You're looking to find the things that she did in order to afford the Bentley in the first place.
So find out as much about their processes and systems as you can and then look for evidence to support applying similar things that work for them to your business.
Subscribe to their mailing list. Visit their premises. Talk to their staff. Talk to their customers. Read their ads (or notice that they don't advertise). Network with them.
You can learn just as much from non-competing businesses too. So why not set up a support / learning group or see if a successful entrepreneur would be able to mentor you.
#3. Have A BIG Goal
Big goals, by definition, should be easier to hit than small goals. So don't think small - think big.
After nearly 8 years in business I still like to set regular, big, 90 day goals. I call these goals SHAGs - Short Hairy Audacious Goals.
Too many businesses focus on surviving. They think
Another year is just about ready to finish and it is time to start thinking about next year. If you own your own business or you manage a business division, then you need to ask yourself if all of the expectations that were set forth at the beginning of the year were met. If not then maybe what stopped you was a lack of goals and objectives, or just a lack of a good process to use when planning them. The goal setting process is essential to the success or failure of the business, and many careers have derailed due to a lack of them. Goals and objectives apply to everyone involved.Being a business owner or a manager implies an inherent
What mistakes have you made? What lessons can I learn from your experience?
Will this advice / support / idea cost me money or make me money?
Who really benefits when I take the course of action you're recommending?
#2. Model Excellent Businesses
Now by this I don't mean simply copy random things they do.
Just because the boss of a successful firm like yours drives a brand-new Bentley it doesn't mean you should rush out and buy one too. That won't guarantee success.
You're looking to find the things that she did in order to afford the Bentley in the first place.
So find out as much about their processes and systems as you can and then look for evidence to support applying similar things that work for them to your business.
Subscribe to their mailing list. Visit their premises. Talk to their staff. Talk to their customers. Read their ads (or notice that they don't advertise). Network with them.
You can learn just as much from non-competing businesses too. So why not set up a support / learning group or see if a successful entrepreneur would be able to mentor you.
#3. Have A BIG Goal
Big goals, by definition, should be easier to hit than small goals. So don't think small - think big.
After nearly 8 years in business I still like to set regular, big, 90 day goals. I call these goals SHAGs - Short Hairy Audacious Goals.
Too many businesses focus on surviving. They think
The key to the success of any corporate event - such as a trade show, a retirement party, a sports outing, or any hospitality event, a sales meeting, or the annual holiday party - is Corporate Event Planning 101. Corporate events vary in size and purpose. Some corporations host corporate events that consist of thousands of invitees, while some organize events for all employees, and some for only select employees. Whatever the occasion, you require proper corporate event planning to make event memorable and a roaring success.With a variety of people attending these corporate events, their tastes and preferences are bound to be different. W
Subscribe to their mailing list. Visit their premises. Talk to their staff. Talk to their customers. Read their ads (or notice that they don't advertise). Network with them.
You can learn just as much from non-competing businesses too. So why not set up a support / learning group or see if a successful entrepreneur would be able to mentor you.
#3. Have A BIG Goal
Big goals, by definition, should be easier to hit than small goals. So don't think small - think big.
After nearly 8 years in business I still like to set regular, big, 90 day goals. I call these goals SHAGs - Short Hairy Audacious Goals.
Too many businesses focus on surviving. They think in terms of what they don't want. They miss the opportunity to really succeed and then get what they were desperately trying to avoid - failure!
Focusing on what you don't want really doesn't work. If you don't want to fail you should focus on succeeding in a big way.
#4. Improve Constantly
Have goals and set targets. Know what outcomes you want and quantify them where possible.
Then work towards your goals using the following cycle...
1. Implement (Do Something) 2. Measure (Test & Review) 3. Improve (Learn & Adjust)
As my friend and firewalk trainer Sanjay Shah says, if you simply improve by 1 percent a day, you'll have improved 300 percent (allowing for holidays) in a year!
#5. Don't Follow The Crowd
Look, we both know most businesses fail so don't do what most other businesses do or you'll get the same results.
Don't just advertise because every other business seems to advertise. Make sure advertising will make you money.
Don't just do telesales because that happens to be the service your local Chamber of Commerce is selling.
Don't measure turnover when profit and cashflow is usually more important.
Don't take on staff just because other businesses believe more people equals growth. More people often just means less profit!
Don't do the same thing, in the same way, to the same people as every other business like yours.
Do something different!
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