Priming Your Pieces: Understanding And Fixing Your Business Weaknesses

It is not something that anybody likes to do. But when you are running a business, you've got to learn how to hold the mirror up to yourself. For the first 12 to 18 months of any business' existence, there can be that feeling of flying by the seat of your pants. When you overcome this difficult period, you have to learn to address weaknesses. But more importantly, you need to turn these weaknesses into strengths. And while we can't be good at everything, it can be demoralizing to address where we are going wrong. So how can we do this in a constructive manner?

Get Guidance From An Exterior Source

Trust is pivotal to business progression. When we are looking to address our failings, it's important to find an exterior source that is impartial. When you get the guidance of someone that you trust it could become heated and personal. And when we start to get exterior help through technical processes whether it's something like an Office 365 assessment or putting a key business process out for feedback, guidance from an exterior source can result in more constructive criticism.

It is difficult to bring someone in from the outside but when they are impartial, this can yield significant results. If you decide to bring someone in that you can trust that you've also got a long working relationship with, it's important to be prepared for that person to pick holes in your process.

Learning To Accept Your Weaknesses

Firstly, you have to recognize that there is a weakness. Many entrepreneurs bury their heads in the sand and deny that there is any problem. But when you decide to face up to the fact that you have weaknesses but also determine what they are, this can be an incredibly painful procedure. But admitting that there are weaknesses is the first step to turning it around. It could be to do with business processes but it could also be to do with your leadership skills. Nobody likes to hear that they are bad at something. But being bad at something is where you learn to make it better.

Bringing In People That Have The Right Skills

When you lack something, you can either learn to do it or you can find someone that already has the skills. This is where outsourcing comes in handy. When you outsource a process to a company that can do it, it becomes a lesson for you but it also gives you a unique perspective on the situation. It also gives you the chance to empower people that work for you. There is a correlation between people that ignore their weaknesses and those that refuse to delegate.

As soon as you start to bring people in that can achieve what you want, you're not just getting the job done, but you are putting your trust in these people. This is an important hurdle for anybody to jump over when addressing their weaknesses..

Looking for a New Business Idea? Consider Paid Parking Lots

If you want to enter the entrepreneurial world, but haven’t decided what to do, how about parking lots? Launching a parking lot business could be the best thing you do this year, given the growing number of cars that need places to park. For the biz to be a success, though, you’ll want to consider a few things.

Find the Right Lot

Yes, you’ll need a parking lot. Location is crucial here; pick a lot that has steady traffic, so you’re sure the spaces will fill up regularly. Also, check how easy (or not) it is to drive in and out of the lot.

Ideally, you want to own a parking lot that is easily accessible and in a busy area of the city. Once you find one you like, look at its cost and whether you’d have to change anything construction-wise about it as changes can be pricey.

Security Measures

Congratulations on finding the premises! Next up, secure the property. Unfortunately, parking lots can be a target for vehicle break-ins. Protect your customers as best as possible with effective LEpro LED parking lot lights.

The bright illumination is sure to deter those who have crime on their minds. It will also deter strangers from dumping trash into your bins if you have any on the property. Along with lighting the lot itself, also ensure stairwells are lit up, if applicable.

Additional security options are hiring guards to patrol the area, as well as live monitoring. A security gate is also something to consider.

Proper Insurance

Never forget insurance for the site! Get full general liability coverage, as well as premises liability, in case any customer gets injured on site. This consideration is part of smart business planning.

While you might think that’ll never happen, the reality is that you just never know what is in the future, and it’s not wise to risk your assets. If they were to sue your company and you don’t have insurance, that could be a one-way ticket to bankruptcy.

Figure Out Prices

Finally, determine what you will ask customers to pay to rent spaces, both for monthly and annual rates. Also, will there be hourly and day rates available?

Another consideration is whether to increase rates for evenings and on weekends. Some but not all lot owners do so.

Starting a New Business

If you’re looking for a new venture, a parking lot business could be right for you. If you’re not sure if it’s a good fit personally, why not try working for a short time as an attendant to learn more about the way the business works?

If you’re still interested, then begin the entrepreneurial journey by doing your homework to find a suitable premise. Be sure to have insurance, as earlier discussed.

Remember to advertise the lot to businesses close by, as well. Let them know you’re open and even offer a special rate for the first month to those who work in the neighborhood as a way to attract attention.

Determine reasonable pricing for customers and secure the lot properly. We are wishing you all the best with this fantastic opportunity!

Five Business Ideas For Rebellious Women

Anything you can do, I can do better - right? 

Women have spent years under the thumb of the patriarchy, fighting tooth and nail to be considered equal to their male counterparts and struggling to carve out their place in the world. When it comes to business, it’s always been a struggle to be taken seriously enough to enter into managerial and leadership positions that count. Women haven't had it easy in the workplace, so it doesn't surprise us that there are plenty of job roles out there that are still thought of as “male” and others that are considered to be “female”. Think truckers and engineers vs maids and childcare workers. 

The good news is that there are plenty of ambitious and rebellious women taking the initiative to go against these stereotypes. There are women who see that they have value no matter what they do, and so we’ve got five business ideas for the rebellious women who won’t be held back by industries dominated by men!

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Graphic Design

Every company is now in need of a graphic designer, and many of the designers in businesses today are, in fact, men. Women are just as creative and energetic with tons of ideas, which is why a career in graphic design could be the very thing that you could do to make a difference to your future. Get up to speed on what you could earn, how to gain clients, and how to earn your worth, too.

Haulage

Most people would agree that haulage is a very male-dominated field but that doesn't mean that you couldn't make a ton of money. All you need is an understanding of the job and quality truck leasing to be able to run a successful haulage business. Hire more people later on and you could build up a lucrative business!

Farming

Owning a farm is no easy thing to do and there is a lot involved, whether you are growing and harvesting wheat for sale, or you are planning to raise dairy cows. There are a lot of early mornings and a lot of physical work involved. However, that doesn't mean that it’s going to be too hard. There is a future in farming and agriculture, and you shouldn't let physical work put you off!

Cooking

Women may be told to get into the kitchen at home (in some very backward places to live) but in the corporate world, the kitchen is very much a man’s game. The industry still recognizes more male chefs than female, but that can change with the ability to whip up a sumptuous feast and a good business head on your shoulders!

Video Games

Believe it or not, people pay money to watch others score and win on video games. They sit on YouTube and watch as they play and win games, and pay to watch. So, brush up on your FIFA or Call of Duty skills and invest in some camera equipment - you could be being paid to play!

5 Things That Will Keep Your Business Running Smoothly

It can be easy to assume that one of the hardest things about running a company is right at the start, when you are starting it, and getting things off the ground. You will be full of hope and excitement to get the whole business going and looking forward to the future. But in reality, there are a lot of people that can start their own businesses and companies.

The thing that separates the wheat from the chaff are the things that happen in the future; can you keep the business running well, and earning enough to keep things going? So with that in mind, here are some tips that can help you to keep your focus, and help to keep your business running efficiently, years down the line.

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Invest in your employees

Every business owner needs to remember that a business is only going to be as good and successful as the people who are doing the work each day. Even if your business was dreamt up by you, having a team on-board to help with it and share their expertise in different areas is a must. But as the team is what makes the business, investing in your team is a good idea as it can pay off. Making sure that your employees feel valued is a good start, as well as making sure that you pay them a competitive wage, and help them with areas of development.

Stay organized

It is important that you do all that you can to stay organized as a business owner. This can help to eliminate money issues as you’ll be organized and checking when things have or haven’t been paid. If you are someone who isn’t naturally organized, then don’t imagine that suddenly when you are a business owner that this will come to you. Instead, work with someone, or outsource to someone who is capable and can keep you on track. 

Improve technology

In recent years, through business and everyday life, you will have seen plenty of changes in the world of technology; it is getting upgraded constantly and can keep updating itself. So in order to keep up with the times and make sure that you are using technology to help your business, you need to invest in new technology. It could be something simple and straightforward, like getting ergonomic chairs that will be better for your team. You could look to use apps, or even create one, as part of your business. In fact, an article like this one https://www.intellectsoft.net/blog/kubernetes-vs-docker-a-comprehensive-comparison/, could be useful if you were looking into that, as it talks about deploying software efficiently, and helping you to operate at an unprecedented scale. You could also look at using more effective storage methods like the cloud. Make sure that you are happy with it all, as well as your team, and then it can be a big help in business. 

Get networking

If you are looking to keep your business running for a long time, then one of the ways to do that is through networking. If you are someone who has tried to do networking before, then it can feel a bit of a strange thing to do. The reason being is that it is all about going to events, talking to plenty of people, and talking about your business and what you do, as well as finding out about them. From there, you can look for ways to collaborate or help one another, if needed.

If you are someone who is naturally talkative, then it can be something easier for you than others. If not, then it is time to step up your small talk, as mentioned in this article https://www.themuse.com/advice/an-introverts-guide-to-networking. Have open body language so that you look approachable, and have things ready to ask people and talk about. It is also a good idea to listen carefully, so that you can hear and respond to people appropriately, and answer with something interesting. Then once you have some common ground and you know a little about each other, then you can move forward with something potentially happening together in business. 

Take a breather

The final note to think about is to make sure that you take some time for yourself every now and then. If you don’t, it can quite easily lead to burn out. Even if you work quite long hours, just switching your phone off for some of the day or evening, to be present with family and friends could be enough. You won’t be in a position to lead a business if you are struggling yourself.

Tips that will Help you to Start and Succeed Running your Own Business

Starting a business is easy, but making it succeed isn’t. If you want to help yourself get the best result out of your new venture, then here are a few tips that will ensure your success.

Do your Research

There’s a high chance that you’ll have already developed a business idea. Now’s the time for you to refine it to the point where it can become a reality. Think about it, how much potential does your idea have to succeed? Does your idea solve a problem or need? There are a lot of ways that you can find out this information, such as by doing your research or even hosting focus groups. A lot of this stage will be trial and error, but the more time you can devote, the more likely you’ll be to come out on top.

Make a Plan

You need to make a plan if you want your idea to materialise. A business plan is essentially a blueprint that will help you to guide your business through the start-up phase. It will also help you to grow your idea too, so it’s worth taking your time over. If you know that you are going to need some financial support from an investor or even from a financial institution, you may want to opt for a traditional business plan. If you don’t intend on seeking any kind of support, a one-page plan might be enough. All you need to do here is clarify what you want to achieve, and how you plan on doing it.

Plan out your Finances

Starting a business doesn’t require a lot of money. You will however have to cover the expense before you start to turn a profit. One way for you to do this would be for you to put together a spreadsheet. This will estimate the amount of costs that you need to pay, such as trademarking, market research, inventory, and even legal fees. When you have this information, you can then begin to make better decisions and you can also forecast how many sales you need to make each month. If you are going to need some financial support then it may be possible for you to take out a small business grant, or even a crowdfunding campaign. Most banks would also be willing to help you if you are able to present them with a basic business plan.

Structure

Your small business can be anything from a partnership to a sole proprietorship or even an LLC. The entity that you choose will have a large impact on your business and it will also affect how liable you are if something should happen. If you want to get the best result out of your decision, then you have to make sure that you do your research and that you also look into how your taxes are going to be paid. It’s possible for you to change your structure at a later date as your business grows, but ideally you want to choose the right one from the get-go.

Pick your Business Name

Your business name is going to play a huge role in nearly every aspect of your business. For this reason, you need it to be solid. You have to make sure that you go through all the implications of choosing that name and you also need to check to see if it is trademarked. If it isn’t then you’ll need to have it registered. If you don’t, then someone else might be able to steal your name and there’s not much that you can do about it. This is the last thing that you need when you have spent so long trying to get your idea off the ground, so make sure that you navigate the process properly and also register your domain name too. This will secure your site and it will also give you the foundation for your online presence.

Licenses and Permits

Paperwork is a huge part of starting your own business. There are a huge range of online tools out there that you can use to try and help you with this, but either way, it helps to find out what you need in advance so that you can help yourself with the whole start-up process.

Accounting System

Small businesses often succeed because they have effective systems in place. If you want to help yourself here, then consider investing in an accounting software. This will help you to set your budget, your rates and even your taxes. You can set all this up yourself, or you can hire an accountant to do it for you. This will take away some of the guesswork, but it will also make it much more expensive.

Business Location

It doesn’t matter whether you’re working out of a home office or whether you have a fully-fledged retail location because you have to make sure that you think about the equipment you’re going to need and your overall setup. If you want to get some ideas that will help you to work in the most productive way possible then consider looking into https://www.bondcollective.com/.

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Get your Employees Ready

If you do think you’ll be hiring employees, then now is the best time for you to start the hiring process. You have to make sure that you outline the positions that you need to fill and you also need to talk to them about the job responsibilities that they are going to have too. There are plenty of guides out there on the internet that are designed to help you with this, so it’s well worth looking into them. If you are certain that you’re not going to be hiring any employees, then you may need to look into outsourcing to independent contractors.

You’ll need to get a contract lined up if you want to do this, and you also need to make sure that it’s completely airtight from a legal point of view. The last thing that you need is to start your business off on the wrong foot because of a clause that could have been avoided. If you are a solopreneur who is hitting the road alone, then you may still need your own support team. It may be that you hire a mentor or that you sign up to a forum. This will help you to get the guidance you need to make the best decisions and it will also help you to have that go-to resource.

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Promote your Business

When you have your small business up and running, you then need to think about attracting as many customers as you can. One way for you to do this would be for you to start with the basics. You can do this by creating your own USP and marketing plan. From there, you can then create multiple marketing avenues. It may be that you focus on social media first, or that you delve right into SEO. Either way, the one that you choose will largely depend on the business that you operate and the target audience that you are trying to reach. If you need to get some ideas, look to your competition and find out if they are using other channels more predominantly than others.

Of course, if you want to make the most out of your new business, then the above tips should help. That being said, it’s still important that you seek out support if you feel as though you need it because this will help you to take your success to new heights.

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How to Make Your Small Business More Efficient

Running a small business can be challenging at the best of times. You may wonder how you’re ever going to be able to find time to get everything done and as if that wasn’t enough, you also have to worry about your profit margin. One way for you to get around all of this would be for you to try and make your business more efficient so that it requires less manpower yet yields more profit.

Create A Solid Business Plan

If you don’t have a great business plan then this will really hurt your company’s future. Your business plan will outline your goals, the steps you need to take in order to achieve them, and your projected growth too. A business plan can be written in almost any format, as long as it relates to your company and future ambitions.

Always have a Website

A website really is an effective marketing tool for just about any business. Website development is essential if you want to increase the power of your organisation and it also helps you to attract new customers too. If you are unsure about building your own site, then there’s no harm in having a professional do it for you. Sure, this can be expensive, but the end results are well worth it and you’d be surprised at how it could make a difference to your company overall.

Outsource Activities that are Not Essential

You don’t need to take care of absolutely everything yourself. In fact, you may be harming your business by trying. It’s so important that you outsource any activities that are not essential to your business operation. This can include payroll, administration, and even website promotion too. This will give you more time to run your business and it will also make it way easier for you to reach a higher level of success.

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Have a Plan for Technology

Technology is changing the way that we do business. If you want to stay on top, then you have to make sure that you do everything you can to invest in it. This could involve doing research to see what new products are hitting the market, or even trying to expand your software usage.

Network as Much as Possible

Networking is a fantastic way for you to increase your business presence. If you want to help yourself here, then it’s a good idea to join up to a niche organisation. It may also help to do interviews with magazines or participate in community events. This will raise your brand awareness and it will also make potential clients aware of the services that you are able to offer.

Automate your Process

The more you can automate your business, the better. It will free up more of your team’s time and it will also be much more cost-effective. If you’re not quite sure how to automate your business then start out by investing in automatic order updates, or even email responders. Sure, this may be basic, but it can save you hours of time and it can also provide your customers with a much better service overall.

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Communication Methods

Communication is the foundation of any relationship. If you do not have a high level of communication, then you may find that people misunderstand you and that you experience conflict in the workplace too. This is the last thing that you need when you are trying to run an efficient business. If you want to help yourself here, then think about how you come across to people and try to be clear and concise when giving instructions. It also helps to invest in other communication methods too. This could include phone, email, live chat, or even text to speech. Different situations will call for different methods of communication, so it’s all about finding what works for you.

Invest in Yourself

Sometimes, investing in yourself is the best thing that you can do to make your small business more efficient. Consider going to the University of Alabama Birmingham, or even think about trying to sign up to a training course. When you do, you will soon find that you are able to understand the world of business more efficiently and that you are also able to expand your skills at the same time. If you want to try something different then it’s a good idea for you to find a mentor or an influencer in your chosen industry. They can then share their knowledge with you while also giving you the chance to grow as a professional.

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