Monthly Archives: September 2017

Strategies for Business Start Ups

Have you just recently started your own business? Have you identified a product or service that fulfills a market need that can be produced and sold at a profit? Welcome to the ranks of the self-employed. You will undoubtedly work harder than you ever have in your life to realize potentially enormous rewards. Launching a new business means wearing many hats, working many hours and being pulled in many directions. It can be difficult for new entrepreneurs to stay focused on a single task. Follow these recommendations from the successful serial entrepreneurs to ensure your business gets started on the right track.

If you’ve already opened your doors for business presumably you’ve already developed a full-fledged business plan. The business plan serves to keep your operations on track and your energies focused. The life blood of any business is clients and customers. The overwhelming majority of your efforts should be spent converting prospects to customers. Whether you do this personally or engage a qualified sales representative, it should be your absolute first priority. Without a continuous flow of revenue to build your business, cash will hemorrhage and your doors will be shuttered within the first year.

Never make promises to clients that you can’t deliver. Honestly will more likely result in client retention while unethical assurances will find you closing your doors rapidly. Strive for excellence in quality product development and on time delivery – you’re clients will expect no less. Own mistakes and commit to finding a mutually beneficial solution. Your clients and employees will respect you for this.

Maintain copious booking and client records. All expenses and revenues should be recorded in business software in accounts receivable and accounts payable. You’ll never be able to grow your business or stay on top of cash and receivables if you don’t have accurate records. Forecasting for inventory and breakeven points on costs, scale reductions and multiple strategic decisions are made based on accurate data on cash flow and capital expenditures. It’s also critical to maintain profiles on each of your clients with contact information, past orders and outstanding purchase orders as well as preferences. This information and data should all be protected with a solid firewall and anti-virus software. This is the life blood of your business. Take advantage of the awesome deals offered by Groupon coupons and select from the software selections available through Kaspersky.