How To Start And Grow A Successful Business – Turn Your Passion Into Profits

More than 60 percent of businesses close doors within the first year of starting operations because of a number of constraints. For you to start a business and succeed, you need to have a lot of determination, resilience, self-discipline and focus. Businesses such as Apple were able to succeed because their founders had adequate focus and inner drive to take the business to the next level.

Here are eight key things you should know to start and grow a successful business:

1. Follow Your Inner Passion

As a matter of fact, achieving success in life is not a prerequisite for those who want to be happy. However, happiness is mandatory if success is to be achieved. Success is achieved by those who love what they are doing. It is advisable for anyone who wants to start a business to select something that he or she loves the most, but this should be something that has a market. If you choose something that can’t sell, there is high probability that your efforts will never pay off.

2. Work on Your Commercial Enterprise

There is an old saying that says that you drive your business or it will drive thee. This is a popular saying by Benjamin Franklin who achieved success as an investor and writer. Start by finding your passion and there after developing a clear and well-detailed business plan. Also, a well-developed strategy is a key recipe for success in every business.

You don’t have to do things your own way. Well, this may bring you success, but it’s not always the case. You can learn a few methods of running a business from successful entrepreneurs, especially those who are famed for developing efficient business systems.

3. Define Your Business Goals And Objectives

The life of a man will only have meaning when he or she is striving for his goals and reaching out. When you have goals, you will know where you are coming from and where to go. It is good to know that any entrepreneur will achieve his or her goals when there is persistence, proper resource allocation and focus. Clarity is power and when used in defining your business goals, success is inevitable. Whenever something comes your way, you will still be able to stand strong and focus on achieving the goals that you have set. You will never be swayed aside when you have clearly defined goals and objectives.

It is of great importance to know what you want to achieve after a day, week or a month. After you’ve drafted your goals, you should monitor your results.

4. Don’t Give Up

Every business has challenges that are unique to it. You should learn from past business trends and put in place the right measures that would enable you take your business to the next level.

Challenges will only be overcome when they are precisely known. Know about the possible source of the hurdle your business is going through and find a perfect solution. Know that most of the challenges faced by commercial entities can be overcome by not quitting.

Know where your business is and where it is going. You should never give up regardless of the circumstances you are facing.

5. Take Action

Taking action is one of the keys to success in business. However, you should always know that action might at times bring painful results. Action combined with good business strategies often yield great results. Steve Jobs once said that we tend to attract different types of people and there is not a need for a person to wait for up to ten years for someone else to take a huge risk on her or him.

6. Focus

Your capital, thoughts and energies should be focused on growing the business. You can get the money you badly need when you focus your money and time on your business.

7. Review Your Budget Regularly

You will need to know if you are moving towards the right direction or not through comparing your actual results with the planned ones. You can put in place the right strategies to reverse unfavorable variants while adding more resources to help increase favorable variants in the revenue centers. This is a sure method of moving your business to the next level.

8. Business is a Life long Learning Process

Apply the lessons that you have learned in the process. Let there be gradual improvement and within no time, your commercial enterprise will be running efficiently.

Leaving Traditional Behind And Going Digital

Companies are becoming increasingly dependent on technology. But, the agencies they depended upon have now become obsolete. Hence, these companies are turning to Digital Marketing Agencies to get their business up and running again. Traditional marketing has almost gone out the window and could soon get extinct. Let us for instance consider hoardings. It is firstly very expensive and there is no way of quantifying the Return on this particular investment. There is no way of perfectly knowing the number of views, how many people like or dislike it.

On the other hand, Digital Marketing will give you very quantifiable results. What are the various digital solutions that can be offered to us? How do they compute these results?

Websites: Incase your firm still does not have a website, a digital agency could help you from scratch. They will build, design, create content, manage and update your site regularly. As they are professionals it greatly helps in enhancing user experience and thus getting business. How can you get business from your ‘site’? Well, a survey suggests that most number of people first look you up on the web and only then take the next step of buying from your site directly (if such an option is available) or visiting your store or office.

Mobile Marketing: Nowadays there are millions of people browsing the internet on the go via. mobile phones. If your site is not compatible with mobiles you are missing out on a major market share. Your site should not only be compatible with a desktop computer but also with tablets and mobiles. Even in mobiles, your site should be well- suited for phones of various size and operating systems.

Search Engine Optimization: As stated above, people look for your site online. How do they go about this? They do it via. search engines like Google, Yahoo or Bing. There are millions of sites on the net. What if your site is on the say 27th page of Google’s search results? Is that going to get you any visitors? SEO tweaks your site in such a way so as to bring it to the top three positions of the search results. This will highly increase your traffic. Google provides an analytics tool to track no. of visitors to you site, the time at which they came, geographical region, from which source did they reach our site etc. None of these are possible in traditional forms of marketing.

Social Networks: This kind of digital marketing solution is used mainly to build brand awareness, its recognition and thus brand equity. Most of your users today are very active on social networks. It is where you can connect or in better terms converse with your customers. Again, traditionally this is not possible. Your customer service betters manifold thus getting your brand a better name and thus, more customers. It is very easy to measure the people interested in your brand with provisions of the “like” button, +1 etc. These features vary from one network to another.

Pay per Click: There are also paid ads available on the internet. You have to pay on the basis of the number of clicks you got. Also there is a Pay per impression. Here, the hosting website or search engine displays your ad thousand times for a particular price. Still, this is comparatively cheaper than traditional marketing.

An agency provides every necessary digital marketing solution that a business may need. You could be catering to other businesses (B2B) or directly to customers (B2C). A digital agency does everything from scratch for you, thus giving your company higher returns.

Five Qualities Ensuring Marketing Strategy Success

Marketing is itself a strategy and so no marketing plan is completely fool-proof. There are some qualities that must be met to be able to consider it effective and this will help in converting customers to make marketing successful. A marketing plan is a frame work that must be followed to transform into a killer strategy. Here are five qualities proving its abilities in the marketing strategy.

Focus on the product

Product focus is not simple as it always is focused towards the market. The product varies in demand depending on the age, gender and trend. In case it is about clothing, then women in 50s if they are working would prefer formal, quality and semi formal dresses, while the younger adults may have a different focus on the product. In case you also have shoes to offer, you can help women show how they can look tall and in this way this will include shorter women who would love to gain height, thus your marketing focus widens more effectively.

Focus on the market

The market focus should be defined. It is impossible to please everyone and if you try doing so, you are going to be under severe pressure and eventually result in losses. Focus on the market fashion, but decide first if your focus is with male or female and without fail consider the age factor. By focusing on the market you will see the likes of your target audience. The other factors worth considering are the purchasing power of your audiences. If you find there is a diverse taste, set your goals by dividing, choosing and conquer the market.

Have measurable information

Anything to be marketed should be quantifiable and must be ideally in numbers. Include all the details, major and minor as detail information has a crucial role in marketing. A strategy is a must for any good marketing plan to see success. The plan that is the marketing strategy should be measurable to know the ROI. If your business is new, you can have both marketing plans, short and long. They can be interconnected. However, ensure the goals are attainable.

Accountability and responsibility

Marketing strategy is about being accountable and this in combination with responsibility alone paves way to success and to attain better results. Marketing plan fails to work in groups than individuals. It is best for each individual to have a specific task and to bring good results. At the same time paying attention to individual’s accountability helps you keep a vigilant eye on their handling of responsibilities. Without fail reprimand the failures and do not forget to reward the achievers. A perfect marketing plan requires absolute involvement that one must be committed to it. Each person should know their job and also should be aware of the outcomes.

Reviews

A marketing strategy is a planning process and an effective marketing plan handles everything from tracking performance to setting goals and measuring the units quantifiable. However, regular reviewing and revision is essential. Do not wait until the last day, keep reviewing regularly and change the plans in-between if essential.

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