You put the spirit in me,
I feel the sensation.
Die on my feet before I live on my knees lord,
Deliver me from point A to B
Deliver me from temptation, the week a man facin
You put the spirit in me, I feel the sensation. Die on my feet before I live on my knees lord, Deliver me from point A to B
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Better success rates notwithstanding, a significant percentage of new businesses do fail. Expert opinions abound about what a business owner should and shouldn't do to keep a new business afloat in the perilous waters of the entrepreneurial sea. There are, however, key factors that -- if not avoided -- will be certain to weigh down a business and possibly sink it forevermore.
Many a report on business failures cites poor management as the number one reason for failure. New business owners frequently lack relevant business and management expertise in areas such as finance, purchasing, selling, production, and hiring and managing employees. Unless they recognize what they don't do well, and seek help, business owners may soon face disaster. They must also be educated and alert to fraud, and put into place measures to avoid it. Neglect of a business can also be its downfall. Care must be taken to regularly study, organize, plan and control all activities of its operations. This includes the continuing study of market research and customer data, an area which may be more prone to disregard once a business has been established. A successful manager is also a good leader who creates a work climate that encourages productivity. He or she has a skill at hiring competent people, training them and is able to delegate. A good leader is also skilled at strategic thinking, able to make a vision a reality, and able to confront change, make transitions, and envision new possibilities for the future. 3. Insufficient Capital A common fatal mistake for many failed businesses is having insufficient operating funds. Business owners underestimate how much money is needed and they are forced to close before they even have had a fair chance to succeed. They also may have an unrealistic expectation of incoming revenues from sales. It is imperative to ascertain how much money your business will require; not only the costs of starting, but the costs of staying in business. It is important to take into consideration that many businesses take a year or two to get going. This means you will need enough funds to cover all costs until sales can eventually pay for these costs. 4. Location, Location, Location Your college professor was right -- location is critical to the success of your business. Whereas a good location may enable a struggling business to ultimately survive and thrive, a bad location could spell disaster to even the best-managed enterprise. Some factors to consider:
Anyone who has ever been in charge of a successful major event knows that were it not for their careful, methodical, strategic planning -- and hard work -- success would not have followed. The same could be said of most business successes. It is critical for all businesses to have a business plan. Many small businesses fail because of fundamental shortcomings in their business planning. It must be realistic and based on accurate, current information and educated projections for the future. Components may include:
6. Overexpansion A leading cause of business failure, overexpansion often happens when business owners confuse success with how fast they can expand their business. A focus on slow and steady growth is optimum. Many a bankruptcy has been caused by rapidly expanding companies. At the same time, you do not want to repress growth. Once you have an established solid customer base and a good cash flow, let your success help you set the right measured pace. Some indications that an expansion may be warranted include the inability to fill customer needs in a timely basis, and employees having difficulty keeping up with production demands. If expansion is warranted after careful review, research and analysis, identify what and who you need to add in order for your business to grow. Then with the right systems and people in place, you can focus on the growth of your business, not on doing everything in it yourself. 7. No Website Simply put, if you have a business today, you need a website. Period. In the U.S. alone, the number of internet users (about 70 percent of the population) and e-commerce sales (about 70 billion in 2004, according to the Census Bureau) continue to rise and are expected to increase with each passing year. In 2004, the U.S. led the world in internet usage. At the very least, every business should have a professional looking and well-designed website that enables users to easily find out about their business and how to avail themselves of their products and services. Later, additional ways to generate revenue on the website can be added; i.e., selling ad space, drop-shipping products, or recommending affiliate products. Remember, if you don't have a website, you'll most likely be losing business to those that do. And make sure that website makes your business look good, not bad -- you want to increase revenues, not decrease them. When it comes to the success of any new business, you -- the business owner -- are ultimately the "secret" to your success. For many successful business owners, failure was never an option. Armed with drive, determination, and a positive mindset, these individuals view any setback as only an opportunity to learn and grow. Most self-made millionaires possess average intelligence. What sets them apart is their openness to new knowledge and their willingness to learn whatever it takes to succeed. The SOUL SHINE exhibit was on point. Family and friends came through. I snapped as many photos as I could. After family left, my old time university friends from when I went to Oklahoma State University came through and good high school friend came to support. It proved to be a night of great dialogue, exposure and just down out fun! I don't think I've laughed that hard in forever... like seriously. I showed off my site, current art of course, my lyrical skill, my impromptu studio for the moment and old drawings from college. Apparently they had no idea I was an aspiring artist in college... I really wasn't but I dabbled. I use wood mainly, recycled too. Acrylic latex, acrylic, water, spray paint, vinyl records... whatever else I find that's cool.
How confident are you, when you speak or write about your business? I ask you this, because there is a direct link between how confident you sound regarding your business and how confident people feel about your business. The reason this matters so much, is that we tend not to do business with people we lack confidence in! Confidence and competence
When we speak or write with confidence, we make it easy for people to assume that we believe what we are saying and know what we are talking about. That’s because people associate confidence with competence. Of course, the opposite is also true. When someone speaks or writes with a lack of confidence, they can give the impression that they don’t really know what they are talking about. Their lack of confidence is projected onto the people who hear or read what they have to say, which generates doubt and uncertainty. Before you write your next marketing message or have your next commercial conversation, think about the image you are projecting. Here are a few questions to ask yourself, which may help you identify if you need to work on your confidence or not:
You know how amazing your business is and all the tremendous value you bring. That’s something worth saying. Just make sure that you say it well too! written by Jim so apparently posting your favorite cartoon will help promote the stopping of child abuse... so here are some favorites... yup the whole family got together and had a good conversation about favorite cartoons!
So I have two events coming up this Saturday. One in the DC area and one in Oklahoma. I hope that you are able to grace one of them. I'd dig and appreciate. Truly. Deets on the two: ONE is going to be in Oklahoma, Tulsa to be exact:: Soul Shine Exhibit Where: 8807 E. 62nd St. Tulsa, Oklahoma When: Sat. Dec. 11, 2010 @ 4pm Cost: Free w/ Donation welcome Refreshments/snacks/Hors D'Oeuvres will be served! "COHESIVE FRAGMENTS." This will be a delightful evening of entertainment featuring, live music, dance, singing, poetry, vendors and raffle prizes.
Where: The Mount Rainier Artist Lofts (Community Room) 3311 Rhode Island Ave., Mount Rainier, MD When: Saturday, December 11, 2010 at 5:00pm. Cost is $10 when you RSVP ONLINE -OR- $15 @ DOOR For ADVANCED TICKET PURCHASE RATES, you may RSVP ONLINE at the following URL: http://www.eventbrite.com/event/1057419771/efbevent The homie Datjwan would like to invite you and your guest to his second Fundraiser event entitled "COHESIVE FRAGMENTS." This will be a delightful evening of entertainment featuring, live music, dance, singing, poetry, vendors and raffle prizes. Where: The Mount Rainier Artist Lofts (Community Room) When: Saturday, December 11, 2010 at 5:00pm. Cost is $10 when you RSVP ONLINE -OR- $15 @ DOOR For ADVANCED TICKET PURCHASE RATES, you may RSVP ONLINE at the following URL: http://www.eventbrite.com/event/1057419771/efbevent So in the mist of all this holiday-ness, vacation/NOT, I'm getting some much needed MOMMY love. AHHH! I be missing her sooo much on the east coast, thus why my trip is for so long. It's been a year!! My beautiful mother. I am so proud to come from such a strong, capable and blessed woman! |