Advantages Of Hiring Business Development Consultants

People looking to start a new business have a lot to consider. They need to develop a good marketing strategy, start attracting clients, and put together a host of other things. This is where a business development consultant can help immensely. These consultants can help a business get off the ground and flourish. There are many benefits to hiring business development consultants.

What is a Business Development Consultant?

This type of business consultant specializes in aiding new business owners. They help in a variety of ways including client development and business start-up. As a consultant, these individuals can also formulate a good marketing strategy and help to market a business's brand.

Overview of a Consultant's Services

New businesses have a lot of challenges they must overcome. Development consultants can guide these businesses to success by formulating plans that cater to their specific needs.

Getting new clients can be very difficult for a new business. Consultants can help a business create an effective marketing strategy to bring in a lot of new clients.

Increasing Professionalism

Businesses that utilize websites or that have any sort of printed materials can benefit from the guidance of a consultant. The consultant can look over the writing on the website and fix mistakes or make changes to it that will increase the professionalism of the writing. Error-free, proper writing helps attract clients because they are more likely to trust a business that's professional and capable.

Lead Generation

Business consultants are able to fulfill the needs of any type of business. For instance, a business that sells products needs to be able to effectively generate leads. A business development consultant can generate leads and also show employees how to do the same. Under the guidance of a consultant, any type of business can flourish.

Closing Deals

Another way a consultant can help a business is by teaching its employees the valuable skill of closing a deal with a client. Many employees may already have one good strategy to help close a deal, but business consultants can reveal several ways to do it effectively. Every client is different, so a strategy that works for one client may not work for another; business consultants have several strategies that will work for most clients, and they can teach businesses all about each one.

Branding Assistance

Another great way business consultants can be an asset to a company is by helping them with branding. Some businesses make the mistake of changing their slogans or logos. This is a bad idea because it can confuse clients. A consultant will help a business avoid these potentially costly mistakes.

Consultants also help people decide upon a logo or slogan that will let potential clients immediately recognize the services they are offering. A good slogan and logo can make all the difference, and consultants will help businesses create the best ones possible.

How to Build Your Business and Escape the Self Employment Trap

The traditional way to build a business is to build an owner reliant, Level Two business. In a Level Two business, you as the business owner gather up the reins of power. All decisions are run past you. You create the plan, you lead the execution of that plan, you do all the hiring. You meet with all the key clients and perform most of the important work of the business. Sure, you have people to help, but they're there to do just that-help-not to lead or take ownership of central parts of your business.

The core knowledge of how to manage and direct it is locked up in the gray matter of your brain. If something should happen to you, your business would crumble. If you manage to somehow escape for a short vacation, you probably sneak your laptop or iPhone with you on the trip and check email when your spouse and kids aren't looking.

What's the real reason typical Level Two business owners want all the control? It's the fear that if they don't stay in control, things will go wrong. They're afraid that their staff will screw up and they'll lose a customer or face a lawsuit, or even that the company will fail. So they clutch at the security blanket of control, never seeing that it binds them in a trap that holds them in their businesses forever.

Remember the scene in Godfather III in which Michael Corleone (played by Al Pacino) wants to get out of the family business? He turns to his sister Connie and says, "Just when I thought I was out, they pull me back in!" Well, that's exactly how many Level Two business owners feel over time.

While there is nothing wrong with the traditional model, and it works to build a successful Level Two business, it has three serious pitfalls to it.

The 3 Pitfalls of Building Your Business the Level Two Way

Pitfall 1: It caps your income and your success.
If your business revolves around you and your personal production, as you become more successful, you'll smack up against the ceiling of how much you personally are able to produce for your business. You can personally only do so much and run so fast before you just can't do any more.

Pitfall 2: It puts everyone at greater risk. If you stop working or get injured, your business dies-quickly. This is risky for you, your family, your employees, your customers, and your investors.

Pitfall 3: It eventually corners you in the Self-Employment Trap -the more success you have, the more trapped you become inside your business. You're so busy doing the "job" of your business that you can't step back and focus on growing your business. As you grow your sales by personally producing more, you take on increasingly more overhead. That means each month, your starting point requires you to run even faster just to cover your fixed costs. It traps you firmly inside the suffocating blanket of your Level Two business.

So what's the way out of the Self-Employment Trap?

In the traditional Level Two approach, you try to escape by personally working harder. But that's like stepping on a treadmill and saying that the way to get off is to simply run faster. Not so. The faster you run, the faster the speed of the treadmill. You take on more overhead and hire more employees, but you put them into a Level Two model that merely increases your personal pressure to produce. And what happens if you ever stop running? You come crashing off the treadmill and your business dies.

Escaping the Self Employment Trap

A job is something that you do yourself; a business you build does your job for you! Getting your business to do more means building the infrastructure that profitably produces value in the market in a scalable way.

This means building your business with the end in mind, the end being the day when it no longer needs your time and attention on a daily basis. In fact, building a Level Three business is a lot like raising kids. Immediately after birth and for the first few years, you put in a tremendous amount of care and feeding, not to mention changing a few diapers! This requires lots of your time.

In the early years of your business, you're naturally the main engine driving your business forward. You'll wear all the hats at various times, and you'll have few formal structures and systems within your organization upon which you can truly rely. But as it matures-like when your kids start school-you create some breathing space. You're confident you'll generate enough consistent sales that your business stays profitable.

As you enter Level Two, you'll face a crucial decision point at which you can settle for owning a Level Two job or instead choosing to raise your business to be a strong and independent entity that benefits from your involvement but is ultimately independent of it. Just like your goal as a parent is raising kids who can eventually stand on their own-independent and self-supporting-so your goal is to create an organization with the systems, team, controls, and scalable solutions that allow it to stand on its own.

The traditional Level Two approach is for you the owner to work harder, to do more-to work at the job of your business.

Quick Steps To Establishing Your Home Business Online Enterprise

Many people nowadays wish they could create a home business online. However, many people do not know how to go about doing it. If you're one of them, there is no need to look further. This article will help answer some of your questions about owning and operating a work from online business.

TIP! Open a customer phone line for your online business. You can have this is as a write off on your taxes.

Have you found your online business niche? Know ahead of time that the persons you are marketing to will benefit from your services. Once this is done, making sales will become easier. Ask people how they feel about the niche you have chosen. Find out if they can refer you to customers, too. Keep on top of trade shows in your area for your specific industry. Attend as many as possible to see what types of people are buying and reach out to them.

TIP! Purchase new equipment. Much of the cost can be written off on your taxes, and in certain years, the IRS gives greater rewards for equipment purchases.

Set up a "DBA" or "Doing business as" license in your home state in order to register your online business. Your local Chamber of Commerce or bank can provide the assistance necessary. You will find this to be inexpensive and allows for separation of home business online and personal accounts.

TIP!Consider a new phone line installation before launching your business online. This separate line may be important so that your phone calls can be answered as professionally as possible, without distractions like children, pets, other people, or noisy activities in the background.

Excellent liability insurance is a must for any business enterprise. Remember, this is very important if you plan on having people visit you at your business. This will allow you to be protected in case something was to happen to someone on your property.

TIP! You could make a business online out of selling used books. There are many websites available for people who want to sell used books.

If driving is a big part of the business, keep good records. Mileage and fuel expenses can be written off on your taxes, and you might be surprised to see how much you can save this way. You may end up writing off a lot!

TIP! Your business online will require an Internet connection, don't miss out on the tax deductions for it. You can claim a portion of the total cost of these services for business online purposes.

How good are you at managing your time? Many home businesses online require lots of time, since you don't have a staff to help out. Make sure errands like post office runs and supply shopping are scheduled.

TIP! If you are driving for your home business online, keep track of the gas mileage for a write off. These travel expenses, even if they are only for a day trip, are considered to be 100% deductible.

Don't be afraid to branch out. Brainstorm and think about what other products and services you can offer that complement your current inventory. As an example, someone working in the landscaping industry may also wish to sell various maintenance tools or equipment. Affiliate opportunities are also a great addition.

TIP! Have your loved ones and friends avoid interrupting your home business online workday by calling ahead as they would with any job. This lets you stay focused on work, including phone calls.

Business Ideas For Home Entrepreneurs

TIP! By scanning your receipts and expenditures and saving them to your jump drive, you will eliminate the need to hold onto boxes of files. There are quite a few available on the market, so read a few reviews before you decide which one to buy.

You can find much work from home business online ideas on the Internet. However, you must know that there are many scams about home business online so-called opportunities. Some scammers sell you things that can be found for free, such as government resources. Some home business online ideas are just pyramid schemes, looking for an uninformed novice. Some scams are more convoluted and ask you to pay for access to high paying jobs, or tuition for classes online that are irrelevant. If you think it isn't legitimate, don't bother with it.

TIP!You need to understand which things are and are not deductible come tax time for your business.

Choose a business that is close to your heart. Running a home business online enterprise that you really enjoy will help to keep you motivated, and customers will notice. That helps a lot when you want to expand your customer base.

TIP! Talk to your bank to find out about business accounting. He or she can assist you in opening a bank account for your home business online, obtain checks that include the name of your company and put in an application for a home business credit card or line of credit.

Your focus should be to satisfy all of your customers. Satisfied repeat customers are easier to get sales from than new ones. A happy customer will return time and time again.

TIP!A PO box is crucial if you are trying to start a home business. Your home address is the worst address to use when starting a home business..

Join discussion groups and online forums for those with home businesses online. This is a useful way to communicate with other entrepreneurs and also promote your enterprise.

TIP! Make sure to manage cash flow efficiently. You'll have no trouble maintaining the cash you make if you know what to do.

The advice shared here should be in the back of your mind while you think of ways to run your own home business online. Remember, though, this information is only as good as the effort you put into applying it. Do that and you should succeed quickly.

Problems With Social Media Networking For Business

Once a business owner understands the basics of social media, the next challenge is implementation. The challenge here is making, then learning to manage, the commitment to consistent engagement.

First, you must understand three basic points for successfully implementing social media:

1. Social media does not operate in a vacuum in and of itself.
2. Social media was not initially intended for commercial use and contains inherent etiquette protocols that must be followed.
3. If you're a business person serious about using social media for business, you must first prepare.

OK, to elaborate on these points:

1. "Social media does not work in a vacuum... "
This means you can't just create your Facebook, Twitter and LinkedIn accounts, abandon them and expect this to help your business. Social media involves "socializing" with people.

Social media accounts help you communicate and engage in conversations with your prospects and customers. Once you begin talking with people, to walk away is rude. This applies to social media just like in the physical world. Thus, you can't simply establish the (social media) accounts. You must engage in them, WITH your followers and friends. Consistently.

YOUR CHALLENGE
This certainly can be a challenge for busy, business people. How are we supposed to fool with that stuff everyday while trying to run our businesses?

It's a challenge that business owners typically either foresee and decide to avoid by not involving themselves in social media at all, or don't foresee and become overwhelmed because they don't know how to manage it once they get started.

The thing is to realize that social media is the new marketing ingredient that can't be ignored. It can make your marketing efforts much more economical and effective once you understand and embrace it.

YOUR SOLUTION
The solution is to PREPARE, PLAN and SCHEDULE your business time with social media. That preparation includes creating profiles and content in advance and selecting options that "automate" the process for you. An obvious, highly effective and increasingly popular option with "in-the-know," savvy business owners, is outsourcing. Dedicate staff or hire social media consultants to get the job done for you or a social media coach to work with you.

In any case, at this point, if you're in business, your business must be involved in social media or your business will be left behind.

POINT NUMBER 2: "Social media was NOT initially intended for commercial use... "
OK, since social media was all about the "socializing" online and building of like-minded communities where people could congregate, share and have a good time online, nobody wanted to see commercials or anybody trying to sell them something in those spaces. They still don't. But information and creativity are highly sought after.

All these people in all these online social "communities" are still human, they still live in the physical world and they are all, still consumers. So, while it's rude to push sales in social networks, it is understood that people do want and, subsequently, buy things. The trick is to "inform," serve and provide. THIS is how you engage in business using social media. You have to BE there with your prospects and customers.

ANALOGY
Imagine, if you're at a party and someone at the party mentions that they are looking for a plumber... and you happen to BE a plumber, then it's OK to promote your service. Isn't it?

OK. Let's look at another analogy. You're at the bookstore... and the woman standing next to you asks you if you know a good recipe book because she can't decide from all the titles in front of her. On talking with her further, you discover more precisely what she needs and you are very knowledgeable on the subject. Consider that in this instance everyone in the book store more than likely has an interest in books. Everyone standing in the cooking section with you and your new acquaintance is interested in cooking. You're there too and you just happen to be author of a series of cookbooks. NOW, you can see when it IS OK, expected and WANTED- for you to raise your hand and say, "Hey I'm here and I have what you need!"... can't you?

SOCIAL NETWORK ETIQUETTE
This accepted behaviour is opposed to simply joining a social space and beginning to list your sales "specials." Proper social network etiquette is simply, sharing, befriending and serving. This is "engagement," and yes, you can do it through your business.

With social media, you need to be there -or at least- show up on a regular basis. Join the conversation and contribute either, expertise, information or resources. This is how you and your business gain. It's relationship management and strengthens incrementally, over time.

CONTENT IS SOCIAL GOLD
One of those resources is the practice of providing "content" for your audience. This dramatically speeds up the process, and increases your credibility and your edge over industry colleagues and competitors. Providing content allows you to increase your visibility, appeal and VALUE that ultimately results in increased business. This way, you're not struggling to have one-on-one conversations with everyone in each of your social networks, instead you're engaging with them by providing them something they need and/or want. Done correctly, sharing your content builds your friends and followers trust, that you're the person -or your company is the business- they should do business with.

OK. POINT 3:
"The serious business person must first prepare to use social media for business... "
As with anything else, preparation is 'a good thing' that improves your efficiency and chances of success. Preparing for social media for your business includes the following:
1. You should have a marketing plan already. Now you need to at least outline where your new commitment to social media falls into that mix. If you haven't done this, get it done first.

NOTE:
If you've never done this or need a "quick-start" strategy, simply list all the marketing methods, outlets and media you will be deploying, then schedule when you will implement each and their respective costs.

2. Write a "key person" bio and a business profile. Edit each one of these pieces so you end up with at least three versions including 200-word, 500- character and 200-character versions.

3. Write your business tagline.

4. Conduct keyword research then list your keywords so that you have those -READY- to place in the keyword and/or "tag" sections of your accounts.

5. Write a brief "keyword-rich" description of your business. Include what you sell, who you provide it for and the benefit. Again, create multiple versions so that if you run into word count limits, you already have it PREPARED.

6. You'll want a company photo of the owner/president or the representative of your choice. Understand that social networks are about people. If you don't do this, you'll greatly diminish the opportunity to present your business as "transparent" and build long-term trust. Thus, your business needs at least one face. Have it ready for your social network accounts.

7. Company logo.

8. Produce an initial introductory press release that can be provided at a moment's notice if need be. Don't attempt this if you don't know what you're doing. Pay a freelance publicist or journalist to write it for you. Format it for e-mail and PDF so you may use it as necessary, when necessary. This business "content" is an extra option that places you ahead of most. On occasion, review this release, edit and update as necessary to keep it current.

9. Prepare a selection of photos and images you can use when needed. These might include customer logos if your business services or sells to other businesses, or photos of your retail space, office building, and products. You get the idea. If you're a photographer or designer produce a digital portfolio for immediate presentation when requested.

10. Because you actually ARE in business to sell something, prepare your sales materials specifically for online "social response." Produce your product or service list. Include features, benefits and pricing. Create your contract or invoice forms. Last but not least, produce the sales "pitch." Again, if you aren't skilled at writing (sales) copy, hire a professional copywriter. At least understand that this material is best written by marketing and sales pros NOT journalists. It's a completely different discipline. Even better, hire an SEO copywriter. If you must do it yourself, before you begin, use Google to research copywriting, sales copy and writing for SEO.

11. When you are engaging with your prospects and customers in your social networks, your ultimate goal to gain the sale, is to send them to your business destination. While they're online, and you are holding their interest, you need to be able to send them to your Web destination. Thus, you should have your Web site up and running BEFORE you go full speed ahead with your social media marketing. Not only does this enhance your credibility, it also allows you to transact business online which, as a business person, is the whole purpose for your social media engagement.

Building a Solid Business Foundation for Financing



The single most important thing a business owner can do for their business is to build their business to sell it.

Sell it you ask?

Yes. Build to Sell.

Every decision a business owner makes should be based on that thought. If an entrepreneur can base their business decisions with that underlying idea (in terms of financing), they will be set up for long term success.

The lending institutions base their acceptance or declination on one thing.

Is the business an attractive lending risk.

There are 20 key points every business owner must have in place to be approved by financial institutions when their underwriting team is determining to approve or decline a loan app. Many of these are small, seemingly meaningless ideas. However, lets take a look at it from the eyes of the lenders.

Banks and lending institutions get so many applications from business owners who, quiet frankly, have no business applying for a loan. Their business is not set up to be lent to. The banks are not even viewing these entities as a viable businesses. So the first stage of getting past the computer guidelines is to have these in place.

Additionally, if you were to go to the bank and not have these in place, the loan officer would get a two digit code back from the computer system and all it was say was "Loan application declined." Your loan officer, without investing some time into the issue, would not know exactly what you needed to do differently to be approved. The loan officers surely do not have the underwriting guidelines for their firm.

In this article we will examine the top three reasons business owners fail at business credit building and business financing.

The first is simply the business owner does not have all the I's dotted and the T's crossed in their business. Things like having an 800 number, being listed in the 411 directory, and having a dedicated fax line is a must to a business owner seeking financing. Many business owners I speak with are small businesses, who are just seeking their financing options. It's impressive to see the amount of businesses that do not even have these first three steps accomplished. Remember, the goal here is to have your business look attractive on paper. In the eyes of a lender, if you do not have an 800 number it is suggested you own a "mom and pop shop" and are not setup for success.

Secondly, business owners have not started to build their business credit. There are right ways and wrong ways to go about building your business credit structure. In the eyes of the lender business owners who go out seeking to open revolving lines of credit and are turned down (due to reasons outside the scope of this article) it appears as though they are fishing for financing. It's imperative to apply for the right types of credit lines and being approved for those lines when establishing your business credit from the get go.

Thirdly and most relevant to most entrepreneurs: they have not separated their personal liabilities from their business. It's important for a business owner to have good receivables in his/her business. But, and what's equally important, is that business owners personal credit is not tied to the business, in any possible way. There are two reasons why you'd want to separate yourself from your business. If something happens to your personal financial situation, you do not want that to be the reason your business is unsuccessful in obtaining financing. Secondly, should something happen to your business, you do not want that to affect your personal credit.