Tag: female-entrepreneurs

5 Signs You Can’t Do Business Alone

Many business owners start their entrepreneurial journey operating in isolation, and that is completely fine when you’re still getting your business off the ground and learning how to navigate the complexities of the business world. You’re still trying to figure things out. You’re learning which things work and which ones don’t, testing new methods and products, and making improvements where needed.

However, there comes a time when entrepreneurs realize how challenging it is to try to do everything on your own. Wearing too many hats can leave you feeling drained and overwhelmed, and this pressure can get in your way of making progress. To prevent this from happening, here are five signs you can’t do business alone that you should watch out for.

Running a business feels too stressful.

Don’t get us wrong, running a business is not an easy feat. There is always a new obstacle to overcome and a new problem that needs to be solved, and this can bring in a certain amount of stress in your life. The problem arises when there are so many things on your plate that you can’t help but live in a constant state of anxiety and stress.

Of course, this is not a sign that you’re not cut out for entrepreneurship. It simply means that you need to reconsider the amount of work you’re taking on by yourself and hire someone to help out instead.

You’re overwhelmed by the amount of tasks.

Being a business owner means being the one in charge but also the one who has to make all those different things happen. From tackling various projects to managing admin work to developing a marketing strategy, there are simply too many tasks to handle.

Outsourcing can be a godsend when it comes to reducing work overload. For instance, if you’re looking to acquire and retain customers, rely on an advanced data solutions provider to help out. They can analyze, strategize, and execute your marketing campaigns. Similarly, you should consider hiring someone else to tackle employee management and admin work. That way, you’ll free up room in your daily schedule and move your focus on other aspects of managing a business.

There are a lot of missed deadlines.

Part of running a business is being able to meet the demands of the clients. After all, no one likes to have to deal with missed deadlines. Clients expect businesses to do their job the right way at the expected time.

While missing a deadline every once in a while is no big deal, you definitely want to make sure that this doesn’t become something that occurs on a regular basis. When that happens, it becomes obvious that asking for help is imperative.

You’re thinking about launching something new.

Adding new and exciting offers to your existing assortment is a vital part of growing your business. It’s a chance to boost your revenue stream, and it can potentially open doors to new markets. However, developing a new service or product is a time-consuming process, and there’s a lot of work that goes into it.

If you think that your business would benefit from innovations, make sure that you can handle all the extra work that goes with it. To prevent work overload and unnecessary stress, add members to your team before tackling this new project.

There’s little to no work-life balance.

If you’re constantly thinking about your next business move, not working hours that are considered realistic and sustainable, or find yourself always putting work before family and social life, guess what? It’s a clear sign that there’s virtually no work-life balance in your life. Not only is this not a sustainable option in the long run, but it can seriously affect your mental and physical health, your relationships, and your overall sense of well-being.

Instead of letting work projects and long business hours take over your life, make an effort to address this lack of balance. The sooner you realize that your business needs help, the sooner you’ll be able to regain that sense of balance and reach your goals with more ease and less stress.

Wrapping up

The tendency to do things independently rather than having others help out can sometimes be good. But when it comes to business, it’s not really a choice but a necessity to have someone to partner with and help out. By watching out for the signs listed above, you’ll manage to bring in a team of motivated people at the right time and ensure your business’ continuous growth.

About The Author

Taylor Parker is an American-based writer and blogger. She is very passionate about family, fashion, health, and lifestyle. Taylor writes mostly lifestyle articles, but also you’ll find her in home improvement and other niches.  You can follow her on Facebook and Twitter

 

6 Ways to Promote an Eco-Friendly Lifestyle at Work

The accelerated rate of deterioration of the environment requires taking urgent measures to help heal it. For this, it is not only important to take care of the home environment but also work. Chances are you spend most of your day at work, so it’s important to learn actions you can take to create a better world or simply make your business more sustainable.

What is the use of worrying about a business or about day-to-day life in general if we accelerate the destruction of the planet? Thus, it’s better to choose to collaborate in caring for the environment, from small and simple gestures to other more complex forms.

Although at first, it may not seem like it, it is not necessary to carry out great actions to take care of the environment in our work, but each one can contribute a small part. These actions are applicable whether you work as an employee or if you are self-employed.  If living green is important to you, allow us to present some actions so that you can learn how to take care of the environment at work and how to pollute as little as possible.

Save On Consumption

Did you know that energy consumption, in addition to being one of the main expanses of the company, is also causing an immense impact on the environment? Any person from the eco-management industry can tell you about the dangers of wasting unnecessary resources.

Saving energy without reducing work capacity is possible and is also good for the company’s bills and the environment. The actions can be very diverse, such as turning off the computer (at least the screen) or other equipment if they are not in use, or walking instead of using the elevator.  When it comes to appliances, the low consumption versions are pricier than the conventional ones, but at the end of their useful life, they have meant a considerable saving of energy and money. Lighting can account for up to 30% of the total energy bill for an office. For this reason, it is highly recommended to assume responsibility and only use it when absolutely necessary.

When it comes to Air Conditioning, it’s best practice to only use it when necessary and by taking advantage of natural temperature regulation first, or dress comfortably to reduce the use of air conditioning. It’s worth knowing that the same practices apply to combating cold.

Other advice is to consume only the essential water and fix dripping faucets and broken cisterns as soon as possible, which can waste up gallons of water yearly if not fixed on time.

Reduce Waste

Pens, printer cartridges and toners, batteries, plastic cups and bottles, etc. It has been proven that they all contain various polluting compounds for the environment and health. For this reason, it is advisable to use only the essential ones. And if you can, extend their lifespan and reuse them as much as possible (avoid throwaway products). Once you have used fully used them, make sure to recycle them.

Remember, simple and practical gestures are the ones that matter the most. For example: refill toner and ink cartridges; reuse envelopes and boxes; put differentiated bins to recycle paper, plastics and organics; carry cups, glasses, jugs or drums to avoid single-use containers; use rechargeable batteries or systems with solar panels; update the components of the computer to extend its useful life, etc.

One of the most consumed materials in a job is paper. In order to reduce your consumption, it is a good idea to reuse as much paper as possible, review documents before they are printed, or recycle the paper. Instead of simply throwing papers in the trash can, you should dispose of them properly. Protecting sensitive, confidential, or proprietary information is essential. When confidential information lands in the hands of the wrong person, breaches can occur. So, don’t just toss the documents in the trash bin, make sure you destroy them with the help of a paper shredding company. Once this is done, you should recycle the paper.

Commute Responsibly

Traveling from home to the workplace is one of the most important causes of traffic jams, noise, pollution, etc., in the cities. Therefore, whenever possible, it is preferable to go to work on foot, by bicycle or by public transport if accessible.

If a private vehicle is necessary, try to at least go with several colleagues or with other workers in the area, thanks to ride-sharing apps. And when you get behind the wheel, you can use less fuel and emit fewer pollution thanks to electric cars. These cars have been drastically improved during the last years and now can even cost less than their gasoline counterparts.

Work From Home

During the last two years, companies have learned that teleworking can have a lot of benefits. Fortunately, these benefits also transpose into the eco world as well. Companies that can incorporate telecommuting, either full time or on certain days of the week, in addition to reducing costs and improving their productivity, also help the environment. For their part, telecommuters can be greener in their work environment and in the way they carry out their daily duties.

Think about all of those hours that you are not spending in the traffic, all the unnecessary things that must be open in an office and all the expenses spent on electricity and water. At home, we can be even more careful with our expenditure and thus ensure that we are living as green as possible.

Use Eco-Friendly Materials

When buying paper, office supplies, furniture, etc., it is a good idea to check if they carry eco-labels. It is also important to check if the work tools are made of recycled, recyclable, biodegradable materials, and thus choose these instead of others that are not.

Such a company as ECO Green Equipment is a must for industries if you are trying to work as efficiently as possible. Again, as these appliances can cost more, they can also save you more in the long run. It has been proven that eco also means high-quality in most cases as well.

Print Wisely

You would be surprised to hear about the amount of power that printers can use. Printers consume large amounts of ink and paper, but there are some things you can do to control and optimize your printer usage.

One of these is to print in black and white whenever possible, print on both sides, recycle ink and cartridges or use multifunction printers (they save energy). With these actions, in addition to taking care of the environment, you will save important resources.

Final Words

Not all sectors emit the same levels of pollution. For example, heavy industry (such as chemical or metallurgical) is one of the most aggressive industries with the environment, although it can also be polluted from office work. In fact, it is estimated that up to half of the energy consumed in the services sector is made from office buildings.

Although it depends on many factors, individual actions can help reduce the deterioration of the environment, such as the greenhouse effect. For this reason, it is important to reduce energy and raw material consumption in the workplace, adopt sustainable habits or minimize pollution, and, thus, you will be able to take care of the ecosystem. We hope this article has helped you understand how you can do your part and make the Earth a cleaner and safer place.

Frequently Asked Questions:

  1. What are the main types of activities that can be changed right now?

The first thing every company can start with is not even some significant change like buying eco-friendly materials, but simply reducing emissions with bins to recycle paper, reused envelopes and boxes, or simply reviewing the documents before they are printed so as not to reprint them later.

  1. Who needs change at work first?

Since all industries in which people work have varying degrees of use of natural resources and environmental pollution, this should be taken into account in the scale of your eco-promotion plans. For example, it is much easier for companies that can offer work from home to employees than it is for factories to implement. And so they have the implementation process itself is less. But of course, in every area, there should be eco-promotion.

  1. How costly is all this?

Some tips allow you to spend less, such as using public transport or walking. But the very implementation of a full-fledged eco-lifestyle may require financial resources, especially if you want to hire a person to help you with this; or while buying eco appliances. But you must remember that you will get much more from it.

How to Get Your Small Business Noticed

 

If you have recently bitten the bullet and become the proud owner of a small business, you may be wondering how to boost brand awareness to attract and retain customers both offline and online. It is no secret that first and foremost you must learn how to start a website. You must also master the art of marketing in order to promote your brand to the public and, in turn, build a positive reputation for you and your business within your chosen industry or sector. If you are interested in getting your small business noticed by the type of consumers that really matter, continue reading to find out everything you need to know. 

Create consistent branding 

In the small business world, branding is key to conveying the fundamental message of your brand and, perhaps most importantly, standing out from the crowd in an increasingly crowded market. It may not necessarily top your list of priorities as a recently established small business, but it should. It can be done by designing and launching a logo that perfectly illustrates what your brand stands for and what type of goods and services it provides. 

It must, however, be professional, visually appealing, and consistent to ensure consumers can instantly recognise your small business amongst its competitors and associate your branding with first-class products, user experience, and customer service. In addition, you must also ensure your design scheme and color palette aligns with your logo and is conveniently displayed across your marketing efforts both offline and online.

Make the most of social media 

If you are unfamiliar with the wide-reaching benefits of social media or have strayed from participating in social networking in your private life, it may benefit you to know that when it comes to your small business, it is one of the most powerful and cost-effective tools at your disposal. It may cost you a small fee to promote your business to a specific demographic or publish sponsored posts in collaboration with a related brand or influencer but it costs nothing to establish a business page and post original content at a schedule that suits you. It may make sense to hire a specialized social media manager or assistant if your brand experiences rapid growth and development but in order to get your small business noticed, you must make the most of social media to communicate and interact with your intended target audience on a personal level and, in doing so, encourage them to purchase your goods and services. It can also be a great way to keep your customers updated on any upcoming developments, offers, deals, promotions, or competitions that may be in the works. 

Make your presence known at local events 

If your chief focus is to cater to your local community or offer goods and services designed with your nearby surroundings in mind, it may be worth doing your research and making your presence known at local events. It may sound as if you are backtracking on your mission to get your small business noticed or marketing your products to consumers that are already aware of who you are and what you sell but it can lead to word-of-mouth marketing which can significantly boost brand awareness and, perhaps most importantly, increase your profits overnight. 

In order to do so, keep a close eye out for any local markets, stalls, or virtual events where the local community will be in attendance and you can show off your recent product. If you are struggling to find any upcoming local events, it may also be worth contacting your local council to inquire as to whether there are any other networking events you should be aware of. Going to this type of event can also allow you to communicate with your most valuable customers and build long-lasting business relationships with key contacts in your local area. 

Reach out to influencers and content creators

In today’s digital landscape, contact creators and influencers are amongst some of the most powerful forces when it comes to getting your small business noticed online. It may, therefore, benefit you and your brand to reach out to a handful of famous faces within your chosen industry, sector, or niche and inquire into the possibility of scheduling a sponsored post or collaboration that will expose their audience to your business and vice versa to boost brand awareness and increase profits. It can also be a great way to boost your SEO rankings and, as a result, expand your online presence to thrust your small business to new heights. 

If you are looking for new and fresh ways to get your small business noticed, you must create consistent branding, make the most of social media, make your presence known at local events, and reach out to influencers and content creators. 

 

Important Trends Reshaping the Business Landscape in 2022

 

Rapid technological advancements have been impacting organizations across all industries for quite some time now, but the novel global situation truly turned the world of business upside down. The emergence of COVID-19 has had an incredibly transformative effect on sectors across the board, shifting power and causing economic uncertainties. Evidently, our world is quickly changing, and here are just some of the most prominent and important trends that are set out to reshape our future and the business landscape in 2022:

A new wave of entrepreneurship

One positive outcome of the pandemic was a new flow of creativity. People all around the globe were forced to reexamine their traditional assumptions, such as business conducted solely in person, giving birth to a wide array of new ideas and businesses. As a result, entrepreneurship was redefined, adding more variety and diversity into this space.

This trend will only continue to rise in 2022, especially as we see a record number of startups and small businesses taking off. Possibly the most interesting development is individuals turning their passions into a living. More than ever before, creative, imaginative, and crafty people are sharing their unique skills online and turning them into viable businesses, something we will be seeing even more of in the near future.

Growth in artificial intelligence

From personalization and improving search engine results to controlling and understanding devices and even automating entire industries, artificial intelligence has truly become an essential part of business. Companies are already using predictive AI analytic tools to forecast consumer and market trends, but this will become even more prominent in 2022.

Cloud computing will grow exponentially in the upcoming years, with the cloud becoming more established and a higher percentage of workloads running on the cloud. The internet of things is set to push this area further, forcing even the less technologically advanced sectors such as construction to include AI and cloud computing into their day-to-day operations. All of these innovations enable companies to provide deeper customer experiences and seize on opportunities more effectively since clients can be contacted across different channels. By using a cloud PBX communication solution from Broadvoice, for example, businesses can interact with customers via phone, video, SMS, or chat.

The rising need for sustainability

Climate change and the devastating ecological disasters we have witnessed over the last few years have highlighted the need for more sustainable solutions. But apart from the initiatives we might already be used to, such as green, renewable energy alternatives, sustainability is now a priority even in the less evident areas. 

For instance, the oil and gas industry is now using more efficient hydrogen sulfide removal equipment in an effort to minimize waste and reduce pollution. As H2S can be a particularly damaging compound, utilizing effective and affordable removal solutions helps to create a more stable by-product that is significantly less dangerous to the environment, thus allowing the industry to increase their sustainability efforts with one simple solution.

More flexible, flatter organizations

Even organizational structures are beginning to change. Many companies have traditionally been quite hierarchical and strict in their structures, especially when it comes to the more conservative side of business like the legal industry. However, this is slowly shifting to a new business model, as the pandemic has shown organizations they need to be agile and adaptable in order to overcome the unpredictable landscape.

Combined with the changing nature of work that includes freelance and remote workers, this forced companies to adopt a flatter, more flexible structure that enables them to reorganize teams quickly and respond to change as necessary. In turn, flatter company structures are becoming more popular than top-down formations.

The prevalence of blockchain technology

Blockchain technology allows companies to track transactions and do business even with unverified parties, without the need for financial institutions. Not only does this innovation reduce common business conflicts, but it also comes with other advantages such as higher security, transparency, and decentralization.

Apart from financial aspects, we are seeing the adoption of blockchain across many different industries as well, from gaming and art to governance. It’s recommended for all companies to begin studying blockchain technology in depth, as it’s expected to bring great business opportunities in 2022 and beyond.

As the world recovers from the coronavirus pandemic and new technological advancements enter the mainstream, there’s no doubt 2022 will see great progress in these areas. Hopefully, these innovations will only be positive, leading to a better future for businesses and people alike.

 

How You Can Effectively Create a Budget for Your Business

There are a lot of things you are going to need to do when it comes to setting up and getting your business off the ground. One of the most important things that you should do is establish a budget for yourself. This means that you are going to have a much better idea as to what your business has to spend and the amount of money you should aim to make in order to generate significant enough profit. Of course, it’s one thing knowing how important a budget for a business is but another thing entirely knowing how to put a good budget together. This article will go into more detail about the best ways that you can effectively create a budget your business can follow. 

Determine What Your Fixed Costs Are Going to Be 

There are going to be a number of fixed costs that come into play when you try running your business. This could include the likes of the cost of insurance, the price of rent and also the wages of your employees. You need to know what all of these are and what price they are going to come to in order to correctly establish the kind of income your business should be striving to make. 

If you are worried about some of these expenses (as a lot of new business owners are), then you may want to download an app such as Deferit, which allows you to pay bills now pay later. Deferit will pay your bills, and then you will pay them back in four interest–free installments. This means you can take some of the initial pressure off your business as your bills will be sorted. 

Tally Up Your Different Sources of Income 

Another very important step is to work out how your organization is going to bring in money every month. Of course, the total number of sources of income are going to depend on what kind of business model you have. So, if you have a business that focuses on writing, then you are going to be able to make money from the likes of: 

– Carrying out writing tasks 
– Offering visitors a writing course
– Acting as a consultant for other writers 

Put Everything Together in a Way That is Easy to Understand 

Once you have managed to gather all of your different sources of income as well as the different means by which you can expect money to leave your business, you are going to need to put everything together in an easy-to-understand way that you can keep referring back to. Compare your expenses with your income and work out just how profitable your business is going to be. After you have done this, then you are going to be able to work out whether or not you need to move around your business plan in order to generate more income so that you can take care of your expenses while still making a considerable amount of profit. This is absolutely necessary if you want your business to be successful and if you intend to keep your business expanding. 

Conclusion 

There are many different ways that you can ensure your business is in the best position possible to be successful. This means offering a product or service that is high in quality and that people are going to be happy to purchase, offering excellent customer service so you can ask, answer any and all questions clients may have and of course, having an easy-to-understand budget. By following the above, you are going to be able to create a budget that you can refer to and work out the kind of profit you are making and what you can do to keep making it. 

 

5 Things to Consider When Pursuing a Career Change in Your 30s

Some people know what their calling will be while still at school. They build their career paths by choosing the relevant universities, training, and employers.

For others, their career choices are not that obvious. You worked hard in your 20s and approached every project enthusiastically. However, as your 30s approached, you realized that you are not that annoyingly optimistic person anymore. Your priorities have changed, and your career path does not align with them.

Pursuing a career change injects new energy into your professional life. Therefore, it is never too late to do that.

Here is how to start a new career in your 30s.

1. Know what You Want from your Career

So, you have already realized that your career is not for you. However, what is next? Just quitting your current job without having any strategy can turn out to be a disaster.

To swap your career, you first need to decide what you want from it. For starters, think about your current profession – your achievements, the positive aspects of the job, what frustrates you the most, etc. Moreover, what are your desires, interests, and strengths?

Only by considering these factors can you determine the right career path for yourself in the future.

2. Improve your Skills and Knowledge

The next step in the career change process is education. If you have no experience in the industry you are entering, research the job descriptions for your desired profession. What skills do employers request? Make a list of skills you need to master to land your dream job.

For example, some of the most lucrative industries, such as IT, are evolving fast. They require you to learn continuously and stay on top of the latest trends. For example, if you want to manage and deploy Office 365 workloads for Microsoft teams, obtain a relevant Microsoft certificate.

3. Connect with Industry Professionals

Networking is an essential aspect of the career change process. It helps you connect with industry professionals, learn new things, and find job opportunities.

For starters, optimize your LinkedIn profile. As the largest professional social network, LinkedIn is the opportunity to connect with prominent industry players. Connect with the companies you would like to work for. Find the industry experts who have the jobs you want.

Share relevant content, ask for mentorship, and seek help on LinkedIn. That is how you will put yourself in front of your future employers, coworkers, mentors, or even business partners.

Next, attend relevant events in your industry. These could be seminars, conferences, roundtable events, and so forth.

4. Navigate your Career Journey Strategically

Finding a new career for yourself can be overwhelming. There are too many questions you keep asking yourself. For example, should you keep your current job while starting a new career? Or, should you quit and focus on your fresh start in the desired sector?

Sure, that depends on various factors such as your current responsibilities, personal life, etc. However, never put all your eggs in the same basket. It is way too risky. Instead, consider juggling your current job with the new one.

That applies to startups in particular. Do not leave your job until your new business starts to generate solid profits.

5. Keep Motivating Yourself

Starting a new career in your 30s is not easy. The truth is – you will often feel discouraged, worried, and anxious. You may keep asking yourself: “How could I ever think that a new career in my 30s is a good idea?”

Remember that it is normal to be afraid of starting a new professional life. However, you are not alone in the process. Many famous people pursued a career change after their 30s.

For example, Jeff Bezos started Amazon at 31. Before that, he worked in computer science on Wall Street.

Or, did you know that Vera Wang entered the fashion industry in her 40s? Before that, she was a journalist and a figure skater.

Dwayne Johnson and Arnold Schwarzenegger transitioned their careers not once but twice.

Find your inspiration in those brilliant individuals and keep rocking.

Over to You

There are no age limits when it comes to quitting your job and making a career change. While the process can be complex, frustrating, and unpredictable, do not let that discourage you.

Instead, plan your career shift step-by-step. For starters, consider your strengths, weaknesses, preferences, and interests. Based on them, choose the right job for yourself. Work on the skills your future employers may require, connect with industry professionals. Most importantly, take time and navigate your career strategically.

Becoming a Successful Female Entrepreneur: Startup Guide

Launching a business is an exciting feat, but it’s definitely not an easy one. Between developing the best products and services and finding the audience to market them to, women entrepreneurship brings numerous challenges. Add to that the need to secure funding and build a reliable team, and you realize how tricky it is.

While there may be numerous hurdles to overcome, if you have a solid business idea and a solid plan in place, you’ll manage to convert your business vision into a reality and ensure success regardless of the industry. To help you out, we’ve created a startup guide for becoming a successful female entrepreneur. Let’s take a look.

 

Coming up with a profitable business idea

In order to become a successful female entrepreneur, you’ll first need to brainstorm some profitable business ideas you’re passionate about. When it comes to lucrative business ideas for future female entrepreneurs, it’s safe to say there’s an abundance of options. What you need to do is choose a business that’s right for you. This may seem easy, but it’s very tricky, especially if you have too many business ideas which can feel paralyzing.

When in doubt, ask yourself the following questions:

  • What are the things I’m good at? (think of your passions and interests)
  • How can my skills help me develop a business model? (make sure you have some expertise in the industry)
  • Will my business idea secure a strong and constant growth rate?(relevance is key)
  • Will this industry last?(there has to be a viable market niche)
  • What will set my business apart? (keeping ahead of competition)
  • Can I afford to start a business? (the most important question)

Planning your finances

Getting your finances in order is the next crucial step to becoming a successful female entrepreneur. Many aspiring female entrepreneurs tend to save up so they have enough resources to get the ball rolling. That said, those funds will run out at some point, even if you’ve saved up a significant amount of money. To avoid this common pitfall, come up with a plan on how you’re going to fund your business. Some of the possible options include self-funding through grant applications, SBA loans, or bootstrapping, or obtaining funding with the help of government agencies, programs, and organizations.

To protect your employees and your profits, you should also figure out what’s the best small business health insurance option for addressing your specific needs. By ensuring employee wellness, you’ll manage to keep them happy while simultaneously boosting employee loyalty and retention. Last but not least, make sure you have a cash flow budget in place. This will allow you to address the needs that arise after startup.

Developing an effective marketing strategy

Once you’ve gotten your finances in order, the next step would be to think of a viable marketing strategy. The key is to take an approach that will resonate with the intended audience while sending a clear message. Firstly, figure out who your target audience is. Who are you looking to attract – other businesses or individuals? Should you take a more professional approach or would a casual tone be more appropriate?

Secondly, decide on the marketing channels you’re going to use to reach your audience. Ideally, you’ll incorporate both traditional and digital means when marketing your products and services. We do, after all, live in a digital era, and a digital marketing strategy is of utmost importance. Keep in mind that not all social media platforms will benefit every business. Therefore, make sure to define your goals beforehand and choose platforms your audience prefers and the ones it already uses.

Putting your business plan into action

Now that you’ve done your research and came up with a plan, it’s time to set your idea in motion. Start by telling everyone about your business – from family to friends to acquaintances. This is a great way to ensure your first customers and spread the word about your new venture.

Then, look for opportunities that’ll allow you to connect with other female entrepreneurs and build a network for your business. They can be locally, nationally, or industry-based. Finally, make sure you’ve got concrete goals for your business. Having defined objectives in place is key to success, and it’ll also make your entrepreneurial journey a smoother one.

Wrapping up

Starting a woman-owned business is not an easy venture. After all, you are breaking the barriers as a female entrepreneur, and that requires a lot of effort and courage. By learning who your target audience is, taking care of your finances, and finding an effective way to market your business, you can make sure that you’re ready to get your business rolling.

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About The Author

Taylor Parker is an American based writer and blogger. She is very passionate about family, fashion, health, and lifestyle. Taylor writes mostly lifestyle articles, but also you’ll find her in home improvement and other niches.  You can follow her on Facebook and Twitter

How to Grow Your Business Without A Bad Debt

 

Debt-financing keeps the small business world going round. According to Fundera.com, 56% of small businesses seek financing to acquire assets, expand, or pursue new market opportunities. Nobody will argue that debt is a powerful financing avenue when it comes to starting and growing businesses. 

 

However, too much debt can sink your company. If your business is debt-ridden, you’ll miss growth opportunities and damage its reputation and goodwill among suppliers and customers. Again small business owners, especially women, face rejection from traditional lenders due to gender bias, lack of collateral, trading history, and substantial business revenues.

 

Is there a way to grow your business without any kind of debt? 

Luckily, there’s a couple of ways to fund a small business enterprise with little debt. For instance, aspiring women entrepreneurs can take advantage of small business grants for women to start and scale their businesses debt-free.

 

This article walks you through ways to grow your business without sinking into debt.

 

5 Ways to grow your business without debt.

Business grants for women

Like never before, women have become game-changers in the business world. According to a recent American Express report on the state of women-owned businesses in the US, there are nearly 13 million women-owned businesses in the US. That’s almost 40% of companies employing over 9 million people and generating $1.7 trillion annually.

 

But women face more hurdles in obtaining funding from lenders. Many government programs and non-profit foundations have come forward to offer grants for businesswomen in the US. The Girlboss Foundation Grant, The Walmart Foundation, Amber Grant, Innovate Her Challenge, and Tory Burch Foundations are just a few.

 

So if you are an aspiring woman entrepreneur, securing business grants for women is an excellent way to start and grow your business without any kind of debt.

 

Build a sizable cash reserve

Building personal savings is another way to start a business without going into debt upfront. If you’re still employed but aspire to start your own business, start saving money for your small business startup. 

 

Aim to build a sizable chunk of savings that can cover initial startup costs and cushion your business a few months down the line before it starts to generate enough cash flow to fund itself.

 

Exercise rigorous cash flow management practices

To grow your business without debt, you need an in-depth understanding of your sales cycles and the ability to trend the thin line between accounts payable and accounts receivable. Negotiate with your vendors to secure a longer payment term on the account payable front, but be vigilant to your customers or clients to ensure shorter payment terms on accounts receivable.

 

For instance, you may require your clients or customers to clear outstanding debts within 30 days and pay your vendors in 45 days. You’ll maintain enough cash flow to cover business operations while maximizing the profits earned.

 

Reinvest part of the profit

Savvy entrepreneurs reinvest part of the profit back into the business to try and grow their business without debt. Conventional wisdom advocates that 30% of the profit should be plowed back into funding business operations or acquiring business assets. 

 

It may be difficult to hit that number when you are just getting started. But once your business starts to generate good earnings, reinvesting part of the profits is a good way to grow your business without too much debt.

 

Borrow only what you can afford

Per se, debt isn’t a bad thing. While the above are excellent ways to grow your business without debt, you may end up sacrificing growth opportunities. Lack of financing is the reason 21% of small businesses become cash strapped and go belly up. Think of turning away customers trying to squeeze some money from the remaining inventory to purchase new stock! That’s detrimental to your reputation and a boost to your competitors. 

 

Just make sure you borrow what you can afford and clear any outstanding business debt as soon as possible to get back to growing your business debt-free.

 

Grow your business debt-free from here on out

Small business grants for women and other methods discussed above can help women entrepreneurs start and grow their businesses without the burden of too much debt. 

That said, borrowing what you can afford and repaying it as soon as possible can help you pursue market opportunities and grow your business faster. If you can’t secure business grants for women, micro-loans and SBA loans are great options to look into. However, your sure bet is to get a small business loan at favorable terms from an online lender.

 

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Top 8 Tips to Unlock Full Potential of Your Business

Running a successful enterprise is not a matter of chance. Sure, luck can help give you a boost, while an unlucky turn of events might slightly slow you down but there’s a pretty good reason why some businesses make it and others don’t. It all comes down to the reliability and sustainability of an enterprise. It’s also about creating a business that can thrive in the long run by making systemic changes that will make it more efficient. With all of this in mind, here are the top eight tips to help unlock the full potential of your enterprise.

 

1.     Hire the right people

The first thing you need to understand is that you can’t do it all on your own. This is why it’s such a high priority that you actually make a great team. This consists of two things. First, you need to hire the right people. Second, you need to recognize employee types that you don’t want anywhere near your enterprise. Just because someone has an impressive CV, this doesn’t mean that they’re a great cultural fit for your organization. Also, even if someone delivers decent personal results, this doesn’t mean that they don’t have a negative effect on the rest of your team. Emotional vampires and backstabbers are not necessarily underachievers.

 

2.     Delegate tasks

Another thing you need to know is how to delegate tasks in a fair and efficient way. You see, some tasks are simpler than others. Other tasks might be boring, repetitive or even numbing, which is why some of your employees prefer to avoid them. Then again, some tasks provide unique learning experiences, which is why they’re so popular with your staff. Some of your employees are better at certain tasks, so putting them in charge of those might result in a better outcome. At the very least, it would get things done quicker, which is why it’s a better use of your resources. Learning how to properly delegate tasks will take a strategy, as well as an in-depth understanding of your business.

 

3.     Outsource

Tasks like HR, customer support and IT support are essential for the prosperity of your business but they take a specialist’s approach and they don’t have to be handled in-house. Focusing on core tasks and outsourcing everything else is the most efficient way to improve the productivity of your business. First of all, the specialist agencies that you decide to outsource to are bound to do a better job than your new, in-house team. Second, by outsourcing, you’re simplifying the infrastructure of your business, which means that you can focus on those tasks that actually generate profit.

 

4.     Invest in education

By educating your employees, you’re actually investing in the overall productivity of your team. In other words, spending money in order to send people on specialist courses is actually standing to either make or save money in the future. Think about it, paying in order to train an employee as a specialist means that you don’t have to bring in an outside specialist. This would be a pretty expensive hiring process and a great end result is never guaranteed. To make the long story short, this is an investment and like any other investment, it has an ROI that you can count on.

 

5.     Groom for leadership

Preparing some of your employees in order to become leaders with the help of a mentoring system or specialized executive coaching is definitely the right way to go. First of all, it future-proofs your enterprise by ensuring that all of its future leaders (or at least most of them) come from the ranks. Second, it provides you with an opportunity to reward some of your employees for their loyalty to the company, as well as their outstanding service. In other words, it also serves as a great motivator. As such, it boosts your company’s hiring appeal.

6.     Have 1-on-1 conversations with your employees

In order to learn what it is that your employees really want from your business, you need to learn how to talk to them. The easiest way to start is through a 1-on-1 approach. Some people dream of advancing in your company. Others want to learn new skills in order to make a more impressive CV and gain some work experience. Sure, while the latter sound like a waste of your time, the truth is that the majority of people aren’t there forever. How much effort they make while they’re with you is what matters the most. If you manage to figure out what they want, you’ll get a chance to create a win-win scenario.

 

7.     Learn how to say no

The next thing you should keep in mind is that learning how to say no to a client might just be one of the most important things in the business world. Accepting a job that you can’t complete will make you overwork your team, lower the quality of your overall work, miss a deadline and ruin your reputation. Sure, saying no to a client never feels good and a lot of people believe that it will earn them some bad karma. They believe that saying no to this one client will be a memory that will haunt them if their workload dries up later on. The truth is that this is never the case and you need to learn how to be more confident in your enterprise.

 

8.     Manage your cash flow better

Spending cash on unnecessary purchases, tying up your capital by buying one year’s worth of supplies when you can get by with three months’ worth are common beginner’s mistakes. You see, cash and money are not always the same type of resources. Account receivables are real money and real income but you can’t use them to compensate your supplier, pay salaries to your employees or pay the lease for your office. Sure, you can sell some of these invoices but this is not necessarily a great idea, seeing as how you stand to lose a bit of your profit in the process. So, being frugal with your cash reserves is the way to go.

In the end, the majority of these tips are there to ensure that your business provides consistent results over the course of months and years. The main thing about unlocking the full potential of your business is consistency. This way, your successes will never depend on luck and it will be much easier for you to project your future growth. 

Simple yet Superb Marketing Ideas for your Business

You can be the one to create marketing opportunities for businesses of all types and sizes. This month, many customers are preparing to shop, enjoy the holidays, and spend quality time with their families. So it’s important to increase your marketing efforts to address the unique needs of people this season.

Start by identifying your target group, and then tailor your marketing message to that audience. Ensure your company’s website is aligned with the right marketing efforts. Also, be sure to come up with innovative marketing ideas, so you can stand out from the pack. Here are simple yet great ideas for marketing your business: 

 

1.      Send a Holiday Greeting to Your Customers

You can commence your marketing efforts by sending a personalized holiday greeting or short newsletter to all your customers. Countless bulk email services are available online, so creating and sending a personalized message to your whole customer base won’t be a problem. You may incorporate ads specific to this time of the year into your greeting. For such ads, you might want to partner with a digital marketing agency, such as SEO services in New Jersey that can do it for you. After all, they are experts in this job and your customers will definitely be impressed.

 

2.      Start a Coupon Program

Any month may be the ideal month to start a coupon program for your company. Start by creating a coupon brochure that features all sales offers available throughout the month, and then mail it to your customers. For instance, a triple-fold coupon brochure may feature weekly deals specific to Thanksgiving, from food items to wine. On top of food-related items, the brochure could also feature bargains on any kind of family-oriented products like furniture, electronics, or cars.

 

3.      Take Advantage of the Black Friday Craze

Black Friday is undoubtedly the largest shopping day of the year. It usually happens a day after the Thanksgiving holiday in the US in November. For the last three decades, the Black Friday bandwagon has defined the American holiday season. But thanks to widespread Internet access, it’s now a global phenomenon. As a business, you can gain from Black Friday by not only saving on business purchases but also raking in some extra income from your own sales. Consider buying in bulk so that you can pass some of the cost-saving to your customers in the form of discounts and freebies.

 

4.      Participate in Cyber Monday

Cyber Monday is another big shopping day that can benefit your business in November. Select a few offers and deals to run on this day. Provide shoppers with a fast and affordable payment method by integrating click funnels PayPal into your online store’s page.

If you don’t have a website for your brick-and-mortar store, you can still benefit from Cyber Monday by running promotions on your social media channels. You can also run them on paid social platforms or you might seek help from an SEO consultant  who will do that for you. One option is to give a specific deal to a few of your most loyal customers on Facebook, Instagram, or any other social media account that you have built a presence.

 

5.      Host After-hours Events

Hosting an after-hours event is a surefire way to attract evening shoppers who prefer getting their shopping done after work. Open longer than usual at least once or twice a week. Alternatively, host a unique shopping event with the best local DJ, seasonal snacks and drinks, and a variety of great deals.

 

6.      Give Back to the Local Community

Giving back offers you a real opportunity to nurture and strengthen bonds as well as engage your customers. Identify a local charity or cause you can support with your products or services. You can provide a discount to shoppers who bring in a donation like non-perishable foods or clothing. You can also partner with a non-profit organization that requires what your business has to offer and provide them with the support they need to increase their efforts. For instance, if you operate a restaurant business, you can team up with a food bank.

 

The Bottom Line

There are many simple yet excellent marketing ideas for your business. You just need to be creative and come up with ideas that will help you take advantage of the momentous consumer activities at this time of the year. The above 6 marketing ideas would be a fantastic place to start.

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About The Author

Freya is a Math teacher, Yoga enthusiast, and a beloved mother of three lovely daughters. She is always looking for ways to grow and help others around her thrive through self-learning, meditation, and physical fitness. When she is not teaching or spending time with her family, Freya regularly writes on topics related to self-improvement and women empowerment.

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