Like a child trying to find his/her first steps in life, venturing into a new business requires that one maintains a good grip and take strides with some caution. Quite a considerable number of businesses – about 20% – do not get to make it beyond the first year.
What you make of your first year could go a long way in determining how much root your business will take. One could easily conclude that the first year is the time to set a formidable foundation for your venture, and a good foundation will eventually bring about profound sustainability as the years unravel. To ensure this, you will need to take certain things to heart and this is why we are sharing the following business survival tips.
Have your business plan drawn out
You should not attempt to hurry into business without a workable plan. Your business plan is the blueprint upon which every key (business) activity is set. It should have details about your company’s description; the targeted market; the product(s) and/or services on offer and the goals you set out to achieve in your business. You may not have a metatrader indicator to tell you how the business will turn out but with a good business plan, you can weather the storm
Do not fall victim of financial mismanagement in the course of setting up your business. You should spend money on the things that are really vital. You can start as a solopreneur or hire proficient personnel only when it is necessary; and you can even employ freelancers to execute some of your projects in some instances. All these will help save cost for some unexpected expenses that might come up later.
Draw a line between ‘busy-ness’ and productivity
Engaging in activities should not always be used in measuring productivity rate. So, it is important that you draw a line between getting busy and being productive; this will help you to better manage stress and keep track of your progress in business.
Have an online presence
Your first year in business may not be the time to set up a website but you should consider leveraging on social media platforms to get the word [about your business] out there. Bringing your business to the digital world will ensure increased level of awareness which could be subsequently valuable in building a good customer base.…
Want to start a business? While there are plenty of ideas out there, here are some unique ideas to attract those adventurous souls who love nature and outdoors:
If you have a river around your city, you can start a whitewater rafting business. Even when the tide is low, people will come to just experience the thrill of going with the river flow.
Buy a yacht and charter it for those who love to have fun on the sea or throw a fancy party for friends and family. Buying a yacht can be very expensive; hence people are always looking for rental options. When you charter yachts, you will have a steady stream of takers, thus making it a successful business.
If you cannot buy a yacht, look for owners who want to rent it out. Many of these owners invest in a yacht to be used when they want and rent it out rest of the time. This is done to ensure the yacht is in regular use and the investment earns some good returns. Services like the ones available on www.4yacht.com are sure to attract a good crowd.
This is purely for those extreme adventure loving souls. Whether you are in a mountainous terrain or around water bodies, you can find a place to have a bungee jumping business. This is definitely a risky business that involves a lot of formalities, paperwork, and licenses, but is a sure success as not many will start this business. The key to the success of such a business is the terrain. Choose your terrain after a careful analysis of the surrounding, the safety factor, etc.
When it is just a beach around you, surfing is the most fun inducing sport you can have. Not much of an investment is needed and it can be flexible based on the customer. A surfing coach is a must and a few boards, armed with this you can start an adventurous money making business.…
Most businesses need to maintain a good budget to remain in business, you may go to lectures, business meetups, gatherings and other types of meetings to learn how to budget your business correctly but there will always be these great tips for you to maintain a business budget.
First things first, inventory all of your things and value them. Record them on an excel sheet and list their prices and possible selling points, sell off any equipment not urgently needed and use the money gained to pay off any outstanding loans. You should also try to spend less on things like food, new flashy equipment and non-essential goods and sell them off to reinvest in other more profitable items. Try employing free lancers for example in order to cut down on having to pay someone for basically idling most of the time.
The second tip is to plan ahead and to stay organized, you need to be able to see where your business is headed and where your future sales are going to come from, the extra revenue that you can get from simply knowing which new market segments to go into as well as new potential product lines to go into you can forecast better sales revenues and get ahead of your competitors. The most organized tend to be the best in the long run.
The last tip is to make sure you have a grip over any possible business debt, business debt may seem OK in the short run but it accumulates and builds up interest which makes it far worse if you just leave it be, almost like a metastasizing cancer cell. Visit https://www.debtfreelife.co.uk for pop over to debt free life on business debt alleviation because debt needs to be taken care of as soon as possible before the interest starts piling up and reducing your businesses ability to take care of it.…
Since the beginning of time we have been hearing that leading a debt free life is the perfect way to live a life. It is peaceful, without stress and tension free. However, there are people out there who believe that debts are of two types. You have a good debt and you have a bad debt. Now it depends upon you, will you choose a good debt or will you opt for the bad one.
Some even claim that being debt free is risker than having a good debt. This might seem conversational, but the statement does have merit and we are going to tell you how sometimes being debt free is not the best thing.
If you believe that debt free life is the perfect way of living, you might end up using your asset to clear your debts. Let’s take your home mortgage as an example. You clear your home using your assets, now the trouble is you no longer have emergency funds at your disposal.
Buy Assets the Increase Value
When we say good debt, we means you need to invest in assets are will increase over time. Not in something whose price will decrease over time. One good example, is a car. You lease a car and the more you use it, the lower resale value it will have. Whereas, you buy a house a good location, there is a high possibility that its prices increases with time. Thus, the debt you took on it would mean a good debt.
We are not saying debt is good, but we are just trying to make out point that using debt the right away can be helpful. If you are unable to figure out, simply pop over to debt free life and see what that has to offer.…
It can be an incredibly crucial thing to make sure that your customers are able to review all the available selections you have in your cafe. One of the most popular ways to ensure this happens is to put the products in freezers, one such product is called a commercial freezer.
There are a few benefits of having commercial freezers:
First, keeping your customers eyes busy will help the retention rate of your cafe. Let’s say you have a customer visiting your cafe and he/she views the products available using a printed image, he may prematurely decide that the products you are promoting aren’t worth it. Having a display fridge can help alleviate this problem by showing customers the products directly.
This model is a single door freezer that has interior lighting, fan-assisted cooling systems, 5 shelves and is quite easy to fit into small sections of your café.
– The BC25CP is a small compact freezer meant for smaller cafes
This cooler only has 2 shelves integrated and it’s a quite compact model, but it can be used to store products on a counter or a small corner of the cafe rather than a larger double door model like the FCI100. It’s also cheaper compared to a larger freezer model.
These two models fit our requirements for a cheap and high-quality fridge that will work best in a smaller cafe rather than a larger one, be sure to review these models on your own and make a decision.…