How to Have Small Business Success

There are many things that you should know if your own small business. This article will introduce you to all of them. If you want business success, learn what you can about how small businesses work and what is required to make them run the best they possibly can.

The first thing that you should know if you want small business success is that a business, even owning it, is still a job. You will not be able to enjoy the benefits of a successful business unless you make it successful. And that takes work - sometimes a lot of it in the beginning. But, this is a necessary thing in order to have a successful business. Make sure that you put the needed amount of work in order to gain the desired amount of success with your small business.

The second thing you need to be aware of in order to have business success is that you have to market your business no matter what kind of business it is. Advertising, though it can sometimes be a little expensive, is necessary. You have to have customers in order to have business success, and the only way to get them is to advertise. You can find the most affordable means of advertising when you look for it, and this will save you quite a bit of money.

In order to have success with your business, you have to of course know what exactly success means. Success isn't the same with a small business as a large business in most cases. Of course, a very successful business will make you able to be comfortable in life, but you won't be a millionaire by any means, unless you expand your business form a small one into a large one. This perspective is important because it will help you to have more realistic expectations of what your business success will bring you.

In some cases, though, your business success will require that you expand your business from a single small business to a large business or a chain. This is not an easy move, and it is very risky, but you could possibly gain quite a bit of money and profit from a move such as this. Once again, though, this will require quite a bit of work in order to successfully make this move. And the rewards with such a risk are of course much greater.

The advantages of being an owner of a successful small business are great, but if you want to have small business success, you have to work at it. Spend your time working and advertising in order to make your business successful. And remember, if you want to be a millionaire, in most cases you will have to expand your business in some way, and this is even more work and possibly more reward. If you are willing to put in the work, you can easily have small business success like you want.

Guide to Getting Your Business Certified As Minority-Owned

First off, what is a certified minority-owned business? Who is eligible?

A certified minority-owned business is a business that is supported by the government economically and socially. It is designed to aid minority groups in the United States by providing business solutions for those eligible and assist in distinguishing its brand identity. To be eligible, you must be a U.S. citizen, at least 25% Asian-Pacific, Black, Hispanic, or Native American heritage, and have proof of your minority through documentation. In addition, 51% of the company's stock must also either be owned by its owners, managers, or operators to be considered.

What's the big fuss, why get certified?

For one, people want to do business with minority owned companies, including the federal government, corporations, and state agencies. The reason being, departments, corporations, and companies must fulfill a certain funding percentage to minorities. Not only must a quo be met, many large companies seek to buy from minority-owned suppliers. By getting certified, you are making your business more marketable.

Secondly, having this business certification will guide you to more public and private sector programs and opportunities. Public and private firms search for minority-owned suppliers. By not getting your business certified, you are limiting your business to fewer marketing and business development resources and opportunities.

Thirdly, these businesses are important to its customers. See if you qualify and build up your support base. Be one of the businesses that contracts with the government and receive tax dollars to help your business thrive.

How can I get my small business certified? Are there more programs and perks?

If your business wants to connect with private-sector buyers, simply contact NMSDC's (National Minority Supplier Development Council) 37 regional councils. NMSDC will provide you with a standard application process along with requested verified documents. The council has many corporate members, including Marriot and Microsoft, and connects to over 17,000 minority-owned suppliers. If you pass the certification regulations, your business may participate in an advanced training program, the Business Consortium Fund's Working on Capital Loan Program, and many NMSDC business opportunity fairs.

The Small Business Administration's (SBA) Business Development Program helps minority-owned businesses win contracts in the public sector. In order to be approved, the business must be at least two years old and demonstrate its potential for succeed through its tax returns for proof of revenue. Simply register with the Central Contractor Registration database, then follow the SBA's instructions, and you may be eligible for free one-on-one counseling, specialized business training, and marketing assistance through the local district office. The 2008 training even included programs on developing cost proposals, government contract negotiations, and contract law and the legal aspects of owning a firm.

State and Local Programs (MBE) provide programs to those certified. To apply for MBE Programs, contact your state or local program for instructions. The programs offered vary along with its costs, and some include traveling training conferences. All programs are in addition to the programs included within the business contract.

The Department of Transportation's Disadvantaged Business Enterprise Program helps minority-owned small businesses in their own unique way. The Department of Transportation (DOT) distributes at least 10% of its money towards contracts for these particular businesses. To apply, contact your state or local transportation entity. Not only must the applicant meet the general minority-owned business certification requirements, but also the applicant must not be of a net worth of more than $750,000, regardless of the social disadvantage. MBE programs may accept a DBE certification as well.

The Top 10 Mistakes You Can Make to Ensure You Fail in Your Network Marketing Business

This article uses a tongue in cheek approach to point out mistakes that people make in the direct selling industry every day that is detrimental to the success of their own business. Below are ten common mistakes made by people who decide they want to own their own direct selling business and they are not listed in any specific order of importance either.

1. Lie and disrespect everyone around you (Honesty and respect).

If my lips are moving, I'm lying. This product cures every disease on the planet and on Mars. Trust me.

Truth in "who" you are and "what" you do is the foundation of the direct selling industry. You become a personal brand and represent a company, and organization, and a product line. By lying and treating people poorly casts a shadow over you, your company and the industry and people will judge everyone else they come in contact with in this industry with disdain.

You have to be the shining light for all to see that this industry is a legitimate business. People will join you and work with you instead of running the other way. Your reputation and the company's reputation must pass the TEST so that your business grows.

2. Do not Market your products.

Now that I won my own business people will flock to me and hand me all their money and I don't even have to get up off my lazy boy chair.

Marketing, meeting with people, or telling others about your business is the only way people know you exist. You have to get the word out about what you do and what you offer. If you choose not to do this portion of your business then you are doomed. You are just as doomed if by chance you don't know how and are unwilling to learn just the same.

Some key examples of marketing.

Prospecting

Networking

Referrals

Word of mouth

3. Closed (do not speak with anyone).

Go away, we're closed. Come back tomorrow.

Your hours of operation are extremely important. Why would you own a business and not open your shop? How does this apply to me? If you are not speaking to people about your business, then your business is closed. If you are not selling what you offer, then your business is closed. Get the point?

Bottom line is: Closed mouth is a Closed Business. When your mouth is open your business is open.

Word of caution: Do not vomit on everyone about your business. Learn how to work your offerings into conversations without body slamming people right away with your sales pitch. Slapping someone with your pitch before you even know who they are or how you can help them is wrong. You have to build rapport and trust as people buy you before they buy your product or business.

4. Sell for a loss or give away the store- no profits.

Don't worry I will give you a home boy discount. I will cut you a break and pay for your products myself so you can keep coming back and basking for more.

Undervaluing or devaluing your products is not a smart move. A lot of people will offer their products at wholesale cost or even at a loss in order to attract and keep customers. The problem is that you, more than likely, do not sell enough in volume to make a profit. Businesses that don't make a profit don't stay in business very long.

In addition, you tell your customers that your products are overvalued and you don't believe they are worth the suggested retail cost, and if you don't value the cost then your customers won't value the cost either.

5. Do not Re-invest back into your business.

Why should you put money back into your business operation? Answer... Operating Costs.

When you sell your products and you spend the money that's not a good thing. You should set aside the money so you can buy more products, attend trainings and events, and purchase development materials for your own personal growth. When you manage the money from your sales the right way you should never have to use money from your personal accounts after your initial investment. If by chance you are not doing so, start right now. Set up your business budget with a separate bank account as you do not want to co-mingle your business funds with your personal funds.

6. Hire a ton of people.

I need a personal assistant and a driver now that I'm a big hot shot business owner. I'm CEO of my own company!

When starting out you should have no or few employees to help you in your business. In fact, don't consider hiring for your business until you hit certain levels of success and you have steady income from your business that supports the decision of having employee support.

One are you might consider outsourcing is your personal chores. Hire neighborhood kids to mow your lawn, or delegate that to your children if they are capable and teach them how to operate their own lawn care business.

7. Don't pay your bills and taxes.

Pay your bills. Nuff said! Hmmmph!

No joke, make sure you pay your bills and on time so you eliminate late fees. This is an area that will help you reduce and eliminate your personal debt. Focus on building your business so that you can set aside some of the money to help pay those bills. Make sure you counsel with a successful leader in your success line so they can guide you and help you to not mistakes that will in turn hurt your business and slow down your business growth.

Taxes - pay your taxes: Self-employment tax, federal, state, and local. Where applicable pay your sales tax as well.

8. Stop learning (Closed mind).

I don't need that stuff. I'm the smartest person I know. Just ask me, I'll tell you I'm right.

You should schedule time daily for personal development. Improving your skills or understanding is a must if you want to lead others. No one wants to follow a dummy. Ignorance is a detriment and can only be cured by you spending time reading books and listening to tapes, cd's, and web/pod casts. Attending your support organization's or company's events is very valuable and important for your growth and the growth of your entire team.

If you are the only one in your organization right now, you won't be for long. At least that's the goal of not to be the only one in your organization. You must be able to lead yourself if you are to lead the many. Personal development allows you to relate to as many people as you possibly can. Leaders are readers and help others to see the value in personal development.

9. Don't schedule your time (I'll work it when I work it).

Come and go as you please, ignore your family time and play video games all day. Wasting time is a primary enemy for this industry.

As an employee we are accustomed to a time structure we must follow. You are mandated when you are to arrive at work, when to take your breaks and lunches and when the work day ends. By the time we get home, most of us don't want to follow a schedule unless we want to watch our favorite program on TV.

You must work a calendar into your life. Set aside all the time you cannot work your business. This includes work, church, family, volunteering, and any other time that you cannot absolutely use to dedicate to your own business. Then find the time in your weekly schedule when you can dedicate to working and building your business. Hint: You are going to have to give up some TV and video game time until you are making enough money to where you can buy back time from your job.

10. Break the law; don't follow your company's policies or code of conduct.

Who wakes up and says today I'm breaking the law?

Keep in mind that your company may offer products in other countries. Also keep in mind that ignorance of the law of another country is no excuse and do not assume what's legal in your host country is legal in another country.

Make sure your company has authorization to operate in a specific country before you start selling your goods there. Packaging, compensation, marketing, and distribution are all examples of key areas where laws differ drastically from one country to another, and if your company does not have an official operation in place for a specific country than don't focus on building your business there.

In addition, make sure you know what you can say versus what you cannot say during conversations and presentations. You cannot make or guarantee income claims or health claims. You cannot diagnose or offer cures for disease or health ailments unless you are a certified medical professional.

Small Business Facts to Get You Started

Many people love the idea of being a small business owner because of all of the advantages. There is a lot to learn, though, when you are considering this. And without knowing what you need to know, you may not be able to be successful. Here are a few essential business facts to get you started on your way to becoming a small business owner.

The first of the small business facts that you need to know is exactly what a business is. It is just what it sounds like. It is a business that is pretty small. The employees can range from one or two all the way to about 50 or so people to still be considered small.

There are many different kinds of small businesses. You can own a business of your own doing a service where you are the only employee, such as mowing lawns. Or, you can own a business that has many employees such as a small restaurant or diner. The choices of small businesses that you can buy or open are virtually endless, so whatever you want to do is most likely possible.

And that brings us to the next of the small business facts. It is a fact that not all businesses are successful, so you have to make sure that you know what you are doing when you are trying to run your own business. Sometimes this just involves making good choices, and other times you may even have to take some business classes in order to have the best results with your business. It depends on the type of business that you are turning of course.

The next of the essential business facts involves advertising. It is a fact that your business has to be advertised in order to make money in nearly all cases. This is because customers are most often required in order to make money. And to get customers, advertising has to be done. You always have to make sure that you allocate a certain amount of money in your business's budget to advertising in order to have a successful business.

The last of these business facts is one about the amount of money that you stand to make when you are a small business owner. In most cases, you will increase your standard of living with a successful business. But, you will not extensively increase it. You need a larger business or a more expensive product or service in order to have this kind of income increase.

These business facts are a great place to start if you are thinking of starting a business or buying one. They will tell you if being a small business owner is good for you or not, and if you want to take the risk in order to have this kind of career. Use these tips when you are considering becoming a small business owner of any kind.

Home Based Business Ideas

There are numerous home based business opportunities available today. You should only choose the one that fits your abilities, needs, and other preferences.

More often than not, home based business opportunities only require minimal investment and let work. In addition, some of these businesses do not even need capital or investment. Conversely, it is a good idea to determine what you want to do and what you want to achieve before getting involved in any home based business. Some of the most prominent home based business ideas include:

• Taking and completing forms and surveys - If you want to pursue this online business, you need to have specific knowledge when taking and filling up forms and surveys. There are plenty of research groups and marketing companies that pay individuals just to fill up market surveys to gather feedbacks, opinions, and other information about the market's response to their products and services.

• Internet network marketing - It is best to take advantage of this online business as it is deemed to be the highest paid online businesses. This is because most businesses make use of internet network marketing as their means to success. This online business in which you can work from home involves an interesting and distinct website that serves specific target audiences for specific products and/or services.

• Online data entry jobs - Even if you do not have proficient skills, you can still pursue data entry jobs in order to make money online. These types of jobs only have need for the ability of an individual to read, write, and use the keyboard. The individual does not have to be computer-proficient. As long as he or she can read, write, and type in the computer, he or she can be a data entry specialist.

• Freelance writing - One of the easiest ways to earn money from a home based business is through freelance writing. If you have a knack for writing, this could suit you most. Freelance writing involves writing articles, research papers, and web content among others. It is highly in demand these days and pays more than other easy online businesses.

The Importance of Business Analyst

Do you want to know the importance of Business Analyst Tools? When it comes to workflow management, you need to use all the tools and processes that streamline and optimize the operations of your business. For instance, you need to utilize software systems that enable you to get improved productivity. These systems include content management systems, document management systems and business process management (BPM) tools.

Remember the best workflow management systems can be costly and challenging to implement. However, by seeking the services of an IT Business Analyst, your company will benefit from them, which means you will get the best returns on your investments. In this informative article, we'll look at five benefits of these tools.

1. Improved Accountability

The best Business Analyst Tools enable your company to experience improved productivity. Keep in mind many employees don't respond well to micromanagement, which means you need to use the latest tools to check their productivity. By using the best tools and software, you can know which tasks need to be done, the best team member to carry them out and the specific period the work should be completed.

When you know which tasks and goals need to be met, you won't need to intervene now and then, that's unless it's necessary. That improves the relations between the staff and management by removing personal opinions and considerations from any issue. Databases can store records of what occurred in the system, which gives the administration the ability to audit behavior if necessary.

2. Reduces the Need for Manual Labor

The best business analyst tools provide your team members with the chance to work on non-repetitive tasks. It means they can expand their skills, for example, by working on aspects that require more human input such as in the production process. The best work management tools ensure that work is done faster and without common human errors. Instead of using these tools to replace employees, you should use them to make the workplace more productive and exciting, which improves the firm's overall morale.

3. Better Communication

The best business analyst tools eliminate the need for paper chasing and use of telephones. That makes the office more efficient and greener, which in turn reduces the firm's turnover rates. Among the reasons for quitting jobs is poor or inadequate communication in offices. By using tracking software, you can provide employees with a better way of finding out what needs to be done right now and in the future. For you to ensure smooth day to day running of the business, you need to make sure your communication is honest and clear to employees.

4. Streamlines the Business Operation Processes

Workflow or business analyst tools enable you to have valuable insight in the day to day running of your business. For example, by using automation software, you can determine which tasks can be done simultaneously instead of being completed sequentially. You can know which steps are unnecessary; which means you will make informed choices and decisions. For example, you will know which employees perform specific tasks at their best, rather than who happens to be free at that particular time.

5. Faster Completion of Projects

The best business analyst tools enable you to shorten the duration of projects. For example, you can use them to reduce the period between starting a project and having it approved. As the management, you can set these tools to notify team members when the deadline is approaching or if they have missed it. The team leaders can let employees know of any new projects, changes in scheduling and guideline updates. Remember that in the long run, the time taken to determine these issues can prove to be a lot, meaning you need to use the latest tools to move on to new profitable projects.

What to Do

When switching over to using the best Business Analyst Tools, you may encounter several challenges. That means you should evaluate your office or business needs before deciding to make the switch. If you regularly meet your goals or surpass them, you may choose to leave it as it is. However, if you think you need a general overhaul of your operating systems and routines, you should consider moving your company to the next level.

Before implementing drastic changes, you should open up and consult with your team members about the impending changes. You should then consider hiring an expert IT Business Analyst to help in the process. Below we look at benefits of hiring them.

Ways to Exit Your Business - Choose One

There are several ways one may exit their business. Business Owners may want to exit a business they have owned for decades just because they just no longer have an interest. Or a small business owner may "get out of their business" after a short period of time of just owning it a year or 2. Most all entrepreneurs and small business owners think long and hard before they decided to buy a business or start a business. So often so little thought goes into an exit strategy. A small business may be the result ones passion or burning desire to provide a certain service or product. A small business can also be and usually is one of the largest asset a small business may own. It can be a passion but it also is an investment. A significant investment. Most investments one enters into an exit strategy should exist before the investment is made.

You buy a commercial property to rent out with the intention to rent it for 10 years, hope for market appreciation and plan to sell in 10 years.

You buy a stock. You buy at $10 a share and plan to sell if stock goes to $15 (unless the company fundamentals change)

You decide to start or buy a business, it gets going and does well- is your plan just to run it forever? Well you cant, because none of us are here forever.

If your plan is to start a business grow and run the business until you are 65 and then sell it- you have a plan and are ahead of most. It is so easy to start and buy a business and spend a lot of time preparing for that acquisition or start up, then get wrapped up in the transition or start-up, then get wrapped up in the day to day, and then one day you get real sick, and you have no one in your business that knows how to run your business, and laying in bed decide that you may need a plan- it may be to late then.

I am currently a business broker based in Florida and find my role of meeting with small business owners brings awareness to the need for an exit strategy. I had owned my own small business for 20 years and realized how ensconced with the day to day one can get with their small business. There are several ways to exit ones business- I primarily work with small business owners looking to sell their Florida business, but observe some of the other exit mechanism and have been personally involved with several of these methods.

These are a few methods a small business owner may utilize to exit a business. Some are good, some not so good.

The Good, the Bad and Ugly Ways to Exit Your Business

Sell at profit- can include "merger with other companies

Sell at Loss

Close your doors-bankruptcy, long term negative cash flow.

Poor Health, Significant Injury, Death

LBO (Leveraged Buy Out)

Successfully grow it to such a size and take it public

leave to children

Or some combination of the above- one could die and leave the business to the children

Understanding the Process of Selling Your Business

As a business owner, are you at a point to sell your company? It is never an easy decision to part ways with an organization as you have poured your blood, sweat and tears into your company. It is your livelihood and when the time comes to finally reap the financial benefits of your business, making the final steps to sell your business can be a bit challenging as an unknown process. Keep in mind that selling your business will take time and work but consider this your very last hard working deed you will need to complete in order to secure your financial future.

The first and most important step in the process of selling your business is to obtain a professional business valuation on your company. A business valuation offers a crystal clear picture of where your business stands today as well as understanding of the current market worth. While a business valuation is not required to sell your business, completing a business valuation offers a realistic picture of your company worth and fair selling price.

Many factors are involved when it comes to selling a company; if this is your first time selling a business have an expert financial professional offer advise so you have the upper hand in the deal. A business valuation will provide a comprehensive overview of your business through neutral perspective to assist in determining the fair market value of your business is. By scrutinizing the business' financial records, company assets, past and future current market trends, as well as tax data, you will have a very clear picture of expectations when selling your business.

Prior to selling your business, ensure your books are accurate and in order. Having a well-organized set of financials will help to speed up the sale of the business. Make sure your data is error-free and provide the most accurate information possible.

Ensure that you have a succession plan in place. Your senior management helps run the business on a day-to-day basis and they are key players in the success of your business. Determine what will happen to them when you leave. Will they stay and continue to run the day-to-day operations? Even having a temporary plan in place will offer greater chances in selling the business. Include everything in writing to help protect your staff that is staying. A succession plan is critical when selling a business.

Lastly, keep the sale as quiet as possible. By letting the cat of the bag so to speak can cause a series of negative events. From your competition finding out, to your employee's learning of a potential sale to your customers, this information leak can wreak havoc on the potential to sell your business. Keep information tied to the sale of your business as confidential as possible. Start with the first step of the process and obtain a business valuation for your business today.

eBusinessAppraisals.com provides an affordable, custom business appraisal [http://www.ebusinessappraisals.com/] services to help every business owner chart a course to higher value. Our work bridges the gap between ineffective, cookie-cutter software and high-ticket business valuation services allowing business leaders with limited budgets access to the information they need to make smart business decisions.