Revelations From Writing a Simple Business Plan

20 Sep Picture of a bird and a plant

A ‘business plan’ is much more than a tool for getting investors or loans from financial institutions.  From my personal experience, a ‘business plan’ is an excellent tool to open up your mind to greater possibilities in your business.
Many people dread the idea of sitting down to write a plan for their business until there is a need to get loans or funds from investors. This is a very counterproductive way of starting or running a business.

“As long as you view and run your business from the one position …, even if that one position has worked for you in the past, you’ll NEVER achieve the success you should or could. If you keep looking at your business from the same, limited perspective, you’ll only see what you’re prepared to see and what you’ve seen in the past.”

Jay Abraham

I have been making the same error for many years until something happened a few months ago. Continue reading

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A Discovery of a Small Business Owner from a Marathon

9 Sep Picture of Marathoners

A marathon never meant anything to me until my friend returned from an over 40 kilometers race to tell his story, and how small business owners can learn from it.

His story reminded me of what Brian Tracy says,

“To be successful in life, it is good to engage in some form of athletic competition in order to develop a competitive mind.”

Let me tell you how the story impacts my life as a small business owner.

Being his first time in a marathon, my friend prepared extra-hard to win the N2 million (about $14, 000) prize for the winner.

He competed with over a thousand people running through hills and valleys, rough and smooth roads, straight and winding paths with one purpose – to win the prize. From the very start, he was determined to give it all it would take.

Unfortunately, he did not win the prize, but he returned with the following timeless tips for small business owners. Continue reading

Vital Questions for Business Owners

7 Sep Picture of a man standing on a pavement

Questions are a powerful tool used to open up human consciousness to more possibilities. A business owner can use the right questions to forge ahead successfully.

In my personal life, I have used some vital questions to decide what is best for me from the myriads of opportunities knocking on my door. I have no doubt that you also would have used questions to sift through clouded reasoning at least once or twice in the past. Though this may have happened to you accidentally, it is a great way to cut through blurred lines of reasoning that sometimes hold us down, and choose what is best.

“Questions are the laser of human consciousness. Use their power to cut through any obstacle or challenge”

You may be going through a bad time in your business right now. You may have even identified where the faults come from and how they can be corrected; but you would like to prioritize appropriately. I recently passed through a bad time; so much that I felt owning a business is too much of a task, but this little exercise pulled me back to my feet and helped me prioritize properly. Continue reading

How Great Is Your Business Model?

2 Sep Picture of Interlocking shapes

How do you fish? Do you throw in a hook without bait? Do you launch tasteless baits? Or do you fish where there are no fishes at all?

A great business model should launch tasteful bait in a reliable hook where fishes are many.

Having a great business model is the underlying secret of every successful business. The frontend and the backend of your business have to align adequately. In actual fact, having a great business model is much more important than having a great product or service.

Google entered the world of search engines and revolutionized advertisement with Google Adwords and Adsense. Referring to Google ads, Michael Eisner who was involved in managing one of the search engines in existence before Google, says, “I never thought you could identify the ads, put them on the right side of the page … Continue reading

How Does Your Business Fit into Year 2020?

30 Aug

The digital age is a time of accelerated changes. The smarter way to gain competitive advantage is to get information much earlier than the competition.

I came across this infographic about how the Internet is changing the world and the way we communicate. So, I thought I should share with you to help you plan smarter for your business.

Find out how your business will fit into the coming scenario:

Infographic

We may not be able to predict exactly how things will change, but this is telling us to get ready for the unexpected and most importantly,

Leverage on the things that are unlikely to change!

Further Reading for Business Owners

  1. 10 Subtle Internet Marketing Tips to Win the Business War in 2011
  2. Social Networking Vs Blogging & Email Vs SMS – Struggle For Existence
  3. Self-Branding: How to Separate Yourself from the Crowd & Build Credibility on the Internet

Facts Small Business Owners Should Know About Facebook Business Page

25 Aug A Blackberry Phone

As of today, the number of ‘active users of Facebook’ has climbed another height – over 750 million active users. That’s amazing!

Business owners everywhere on the planet are using Facebook to get new customers, build a large community of fans, and get detailed information about their visitors. Yet, there are some business owners who are not using this powerful tool, even though they have personal accounts on Facebook. They are probably afraid of mixing business with personal life.

To the best of my understanding, with a Facebook business page, you would be able to harness all the free resources of Facebook and more without necessarily relating it to your personal profile on Facebook.  Continue reading

7 Critical Ingredients of Writing and Responding to Professional Emails

20 Aug An Arrow Pointing Upward

PEM 101 (Part 4): Summary of Writing and Responding to Professional Emails

Now that we have discussed how to contact clients effectively by email, how to write and respond to professional emails, and the rules of writing and responding to emails; let’s go over the major points again.

1. Ensure You Have a Professional Email Address

Most of the time, it is actually better to have a business email address or company email address (yourname@yourcompany’s name.com) e.g. tony@mallplaza.com, andrew.william@pilotchannel.com, oprahwinfrey@oprah.com.

If you do not have a business email, get a Yahoo! or Gmail equivalent e.g. oprahwinfrey@gmail.com.

This is the first step to contacting clients professionally using emails.

2. Choose Your Email Headlines Carefully

Bear in mind that business owners (your clients) receive a lot of emails just like you.

Your email headline must stand out to grab their attention. Yet, you should avoid using ambiguous and annoying headlines like Important, Urgent, Emergency etc.

Your headlines should be succinct and meaningful; it should be individual and professional.

3. Greet Your Client or Prospect Respectfully Continue reading

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