A simple way to ensure business profitability and healthy cash flow is to focus on what drives both. What drives revenue needs to be understood. How saleable is the product or service and what’s the market? What marketing is working and how much is it costing to acquire a customer? Is it profitable revenue? How [...]
Calling Young Businesswomen - Transforming your Passion into Profit
Are you thinking of taking the plunge, quitting your job and diving into the wonderful world of business? Or perhaps you've already done it and are now sitting in your home office, terrified and wondering what to do next?
If you can identify with one of these scenarios then you may well be a like me, a young businesswoman working at transforming her passion into profit.
One of the hardest things about starting your own business is the feeling of isolation and loneliness. Most of us are used to working in a team or at least being surrounded by others. Suddenly that support that we took for granted no longer exists.
Joining business networks and attending seminars to meet other women like you can change that situation dramatically. It's an opportunity to talk about your fears, aspirations, progress and motivation. It also provides the invaluable opportunity to learn from other successful businesswomen. Best of all, you'll see that you are not alone after all. In my short time as a business owner I have learnt a number of things and believe these areas are essential no matter what type of business you have.
When you are starting off, business planning is critical.
The business plan. We all know we should have one but how many of us know how to go about it? What on earth will we write in it? Will it really help my business? Learning about business plans and finding someone to help you through the strategic planning process is essential to the long-term success of your business.
It's your own business and it's all about staying motivated.
Persistence and motivation are the key ingredients of any successful businesswoman. You will experience knock backs and there will be days that are barely tolerable. Sometimes it takes a great motivational speaker to give you a boost and provide tips on staying positive and energetic. Sometimes you will find a fresh perspective in a business book or tape set. Whatever the source, you need to ensure you are getting lots of contact with new ideas and people. When you do, the opportunities will surely follow!
It's also about having fun and learning at the same time.
Increasing your skill base is vital, especially when you start off doing everything yourself! Understanding, or at least having a working knowledge of, public relations, marketing and the importance of networking is critical to successfully promote your business. Just don't forget to have fun, enjoy the building of your business and the people you come in contact with.
You might be interested in this upcoming event...
Social Media for Small Business webinar series
Online Webinar - 23 July 2013
With social media, you can easily connect with people and create dynamic relationships. On the opposite side of things, whether you like it or not, your online reputation counts. If I Googled your name, or that of your company right now, what would I find?
Attend to learn:
- Which social media platforms are best for profile building
- How to separate your profile from that of your company
- How to use the top social media platforms (Twitter, Facebook and LinkedIn) to establish your profile
- What your 'About Us' page should say about you
- The unspoken rules of profile building
- and much more!