Tag: Small Business - Page 3

There are few decisions that sit on the top of the pile as most fall lamely into the category of part of life's journey running a business. 

But, thankfully, life really isn't that boring and there are more than enough decisions to keep you awake at night or in the office until the wee hours, going over reports and analysis trying in vein to make the right decision for your business.

All while of course, people are saying to you that you need work, life balance and those long hours in the office, isn't really what you should be doing.

When in doubt, ask an expert.

Yesterday, I put in a phone call to Bond Street 180 business turnaround guru Daryl Wright and asked what he considered to be the most important things for small business owners to consider ahead of 2013. Here is what he had to say.

It's that time of year again and as we all wind down for the festive season, it's time to reflect on the past year and look forward to the year ahead.

Most marketing strategies will be firmly in place for next year, but for those who have left it too late, there are a few things that you need to consider.

Who would have thought that you could learn anything from the six women who star in the Real Housewives of Atlanta?

I certainly didn't think I could learn too much from NeNe, Cynthia, Kandi, Phaedra, Sheree and Kim - but every small business owner can!

It's no different to Justin Bieber, the Venture Capitalist, reportedly having earned $108 million over the past two years investing in tech startups like Spotify. Becoming complacent because you think you have made it or everything is going swimmingly well, could be your biggest downfall.

Do you find yourself chasing your tail when it comes to marketing your business?

Businesses that do not engage in a strategic marketing plan, often find that they are chasing their tail. They fly by the seat of their pants and have no real sales and marketing strategy in place. Instead of being proactive, and placing key performance indicators behind each and every marketing investment, they generally go with 'gut instinct' or what is available at any given time.

While being flexible to invest in marketing opportunities is always a good thing, it can be some small businesses biggest downfall.

It's nearing the end of the financial year or mid-year for those in the US, and its time to start looking back at what you have achieved in terms of building your brand, creating brand equity, increasing your sales performance and improving your customer relationship management programs.

Capitalising on your investment in marketing is not only a no-brainer, but it is also one of the clevest business decisions you can make.

Start the new year with:

Learning to surf a wave is not the easiest task in the world to do. It requires a certain amount of skill, some balance and a whole lot of determination. And... it requires practice.

In the dotcom boom, everyone who was not inventing an online business, were buying up shares so that they felt part of it. The problem was, that by the time the publicity hits and consumers are encouraged to buy shares, the fat cats in corporate finance and early investors have already made their dough.

I am on a very personal journey right now with my business. 8 years ago, I had a dream and after years of fine tuning the business, I am ready to make it come to life. To reach the next level.

What that means is continually putting myself out there, sharing my experiences and taking my business to a level that no-one else in the industry has been able to achieve to date.

Basically, my dream or more precisely, something that is on my bucket list, is to build a company valued at $100 million.

Do you have someone or something that is a benchmark to you?

I have a couple; personal and professional.

In every businesses life, there comes a time when you decide whether the business has 'legs' to grow further.

Marketing Eye has hit this point many times and each time we have done a situation analysis and made business decisions on where to go. Right now, we are in expansion mode with the US market firmly in our sights, targeting places such as Atlanta.

If you are in this position, think about what your Big Hairy Audacious Goal is and work out how realistic it is given your current resources and capabilities. Things to consider include;

Expand into new markets