Entrepreneurial Success

 

  

 
   

How To Boost Your Small Business Performance

9 Super-Slick Secrets by Meir Liraz

 

  

 
 

William A. Ward once said, "Four steps to achievement: Plan purposefully. Prepare prayerfully. Proceed positively. Pursue persistently".

Use Ward's advice while pursuing the following tips.

  

Business Development

Small Company

SMEs

  

 
 

1. Stay current

Join an industry association related to your product or offering. Subscribe to all the magazines that cover your business. (They are tax deductible!) Look at joining an organization like NASE (National Association of Self Employed). They have great sources of advice and information as well as great discounts on insurance, rental cars, and other business expenses.

 		 

 
 

Read and constantly be researching topics about your business. It's easy on the internet!

  

Startup Success Stories

  

 
 

2. Make sure you have a financial plan

Also a budget and a measurement process to keep track of how you are doing monthly. If you don't know where you stand financially and have no short term and long term financial goals, then you are just letting fate dictate your success and we know those odds aren't too good. Control your own destiny!

 		 

Getting Funding for Your Startup

Real Ways to Finance Your Startup

Ideas for Funding Your Startup Business

  

 
 

3. Cash forecasting

Know your enemies! Most businesses hit the brick wall because they fail to understand their cash flow. 

Cash forecasting sounds boring and difficult, but it's not. Keep it simple. Look at your next 3 months projected income or revenue, then just lay next to it all the expenditures you need to keep the business running. The difference is your cash flow. You must do this to avoid surprises.

 		 

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Tips on Boosting Your Sales

  

 

 
 

4. Get an advisory board or a mentor

Sounds crazy for a small operation? It's not! The board can be family members that you trust, or friends. Ask them to be your board of directors and review your business plans and results with them. Having someone to bounce ideas off and get an objective opinion is critical. Or, hire a coach.

 		 

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5. Maintain a balance between work, play and family

Life-work balance, or better yet, life-business synergy, is critical for long term success.

We all put in crazy hours on a short term basis to get a hot project done or the product out the door, but if you do this on a long term, regular basis it is a dangerous sign that you are losing perspective.

You need to be able to step away on a regular basis and get your batteries re-charged. And also have time for family because if they suffer it is almost a sure bet your business will suffer too.

 		 

Life-Business Synergy

Innompic Planet of Loving Creators

MesIms by Kotelnikovs

InnoBall Entrepreneurial Simulation Game

Play InnoBall to achieve greater success

  

 
 

6. Network

It's easy to get isolated in a home business or your own small business operation.

 

Social Skills

7 Habits of Highly Effective People

  

 
 

Force yourself to get out and meet with others that can provide a business support structure for you. One of the benefits of a corporation is the workings of team and the on going support structure it provides. You need to create that for yourself. Don't think you can do it all by yourself; by talking to others in business you will find out great ideas and it will help motivate you.

 		 

 
 

7. Discipline/Motivation

One of the hardest aspects of a small business or home based business is creating the discipline or motivation to work each day. It is so easy to get distracted and put off the essential tasks that need to get done.

  

Self-Motivation

5 NLP Rules

Self-Coaching

GROW Model

  

 
Entrepreneurial Attributes small business success knowledge hacks  

Keep your work place and hours separate from the rest of your responsibilities.

Develop a to-do list EVERYDAY.

Set goals for the week.

Review how you are doing against them.

We all struggle with this and it is one of the key elements of success.

  

 
 

8. Don't rest on your laurels

Be prepared to always change. Force change. Look for things to do more efficiently or how to improve your offering or product. Constantly evaluate your competition and benchmark yourself against them.

Ask yourself the 8 key entrepreneurial questions every day!

 		 

BE MAD

8+8 Habits of a Venturepreneur

Surprise to Win

Ask Learning SWOT Questions

  

 
 

9. Do something you love

If you are in a business that you hate, then it is a good bet you won't be successful. Find where your true talents and skills are and get in a business that exploits them.

The saying, "if you do what you love and the money will follow" is so true.

  Happy Business love passion successful small business

 
 

Remember, success is more attitude than aptitude and never forget that failure is a stepping stone to success and only the opportunity to begin again more intelligently.

  

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