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Friday, 21 August 2015

Small Business Start Ups

Big companies have all started from small and humble beginnings and most of the time do not realize their potential. The only real reason why an individual or a partnership for that matter, ventures into establishing a start-up business is purely for profit reasons. Even these so called non-profit organizations have something to get from all of their effort despite providing any form of “social welfare” support for the community that they belong to as you can not continue operating any type of cause oriented organization with just hopes and dreams. Financial capitalization is the most important part of any small business start-ups including non-profit organizations.
 
 


In general, a business is there to make a profit, and the only way to know if a business is capable of making a profit from their endeavor is to take a look at their profit margin. Any significant movement in regards to profit is a clear representation that there is a need of the product or services that your company can offer to the public. If you want to have a good indicator that your business is surviving and doing well, you should be expecting a 20% to 30% growth in your profit margin within a year.


Most small business start-ups begin with you manning the helm and navigating your way on making your business run smoothly despite of a low turnover in sales. You should be nervous at this point as you have put in some if not all of your hard earned savings just to get your business moving. Your main focus at this point is to have the general realization of coming into terms with two aspects of what you are doing. First, you must realize that even though you have made ample studies of all possibilities of avoiding to loose your main focus on trying to make your business run properly for your sake and for the people that are relying on you to make it work. Secondly, don't divert your attention in exerting too much effort in making a quick way to increase your monthly sales and revenues. Too much emphasis on this aspect may derail your main objective in maintaining a steady flow of customers that you can easily maintain.

Always remember that the reason that businesses continue to exists is because there are people out there who have problems that these business have a solution to. It is just a matter of being to able serve the best possible solutions to the problems that people have which may come in the form of a product or services. That is why people are resolved to generate ideas to find solutions to those problems that businesses offer as a solution, and where one business fails to adequately give an answer to that problem, another steps in and offers a solution to it. People who seek answers to their problems are given an option to which they can conveniently select a solution of their choice in which they see fit.

So, how can your business stand out from among the rest who also offer the same thing as you do? An issue in regards to products and services that you offer to people is never remotely different from the one's that your competitors offer. How do you do this? Very simple, as saying “How can you make a better light bulb”, and they eventually did it! Having a foresight of your business can give you an advantage to others in respect to what you can provide to your customers, even though you all have the same range of products and services, you can make an extra effort in providing them with an added perk to the usual methods of dealing with them such as extending their credit line for regular customers, added terms of payments that may well earn you their loyalty and other types of enticing offers which were not given to them.

Such a matter of adjusting financial accounts of your valued customers would definitely mean adjusting your accounting reports that may affect your financial flow. Although it will take a good deal of financial adjustments, this will favor your customers a lot more than what they have hoped for and earn you a faithful following. For this matter, it is best to learn on how to become an accountant and to find out more, you can visit http://www.tipsforaccountants.com to learn on how to do basic accounting for your business.

Business problems are not really business problems at all but are in fact opportunities waiting to be discovered. A good example of a problem that turned out as a profitable solution is that of a man who has a job as a gardener. Since gardening jobs can take a toll on your back and cause such inconveniences as back pains, this gardener found a solution and invented a digging tool that does not cause your back to suffer as much as you would in regards to using a conventional shovel. He later went on and patented it and is now earning much more than he imagined. It just goes to show how trying to find a simple solution to your own problems can result in solving other peoples problems as well and even profiting from it along the way.

People who start up their businesses are often thrown off from their main focus of improving their business by trying to stay ahead of the other businesses that they are competing with. They spend too much time and effort in trying to out do the competition that it distorts their better judgment of balancing out the quality of the product or service they provide in consideration to their customers needs. Running a business is not a competition or a race as most people think but a real good entrepreneur thinks about how to better serve their customers first and foremost. Businesses should focus on personalizing their service with every customer that comes in and asks of a solution to the problem that they are having. Offering an answer to these questions may earn you a customers trust and they may even commend yo to others.

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