Last month, one of my social media friends was on Instagram stories asking how does she find her stride in business to ensure she is on the right track. Funny thing, when I was listening to her share her thoughts regarding business I knew others had this question too. Too many times, people will seek out advice of consultant or coach and they give them a recycled business model on how to do things. I don’t believe in that. Even if your industry was invited when Jesus was born you can always add to the wheel house.
In the last couple months, I have been talking to people about their companies outreach plan. You know the engagement plan you have to reach your target audience. Most small businesses rely on social media or blogging to connect with their audience. There was a time; I believed you needed to blog, social media and email marketing. Times have drastically changed on that front when it comes to targeting your audience. Personally, I believe too many small business owners are spread thin trying to be all and do all. Trust, I use to believe the hype that guru’s in my industry would share, but I always ignored the fact they had team to help with all those things. Today, I want to break down should email marketing be apart of your companies customer retention plan.
A couple of months ago, I received a buy Tasha coffee question on how said business owner could transition their current business model into another industry gracefully so to speak. This upcoming July will mark eight years in business for Imperfect Concepts brand, and I know a thing or two about transiting industries. You see I started off as an online high-end resale boutique and transition to a business consultant and blogger. Today, I want to share five tips for those looking to transition your business from one industry to the next.
A plethora of new small business owners believes they can turn a profit in 30 days, 90 days or the first year of operations. To be honest, companies such as; Twitter has not turned a profit yet, and Ashley Stewart took twenty years to become one. I am not writing this blog post to diminish your goals of being a successful small business owner. It is truly possible to do so, but we must first be realistic when it comes to this. Today, I wanted to provide some real insight on increasing your small business chance of becoming profitable this year.
Last month, I shared six creative ways to save to fund your small business. Today, I want to focus on low-cost tools and resources to help you build your business and not break your bank account at the same time. These are just not resources for those launching a business; they are great tools and resources for those who are wanting to scale their business. My first company was started with $400 from my savings account, and by year five I was making $10,000 a month in digital sales and making six figures income level. Trust me, when I say these are the same resources I use on a daily for my business.
To be honest, if you asked me eight years ago what my company’s business model was or let alone my sales funnel, I would’ve had a funny look on my face. This is probably the same facial expression you would receive from thousands or more entrepreneurs springing up all over the global. In the last four years, of consulting it has been my goal to have not only solid sales funnel for my business model, but for my clients also. Scaling your company is not just staying out the red, it takes understanding the elements of your business sales funnel.
There must be a secretive excuse manual for those looking to start a business, but don’t want to commit to making their vision, dream or empire happen. One of the first excuses people tend to tell me is “I do not have extra income or money in general to fund my business.” Today, I want to share six creative ways to save money in order to fund your small business. What’s great about this advice and a majority of the advice, I provide is, I used it myself for my small business.
There are a plethora of things I have learned in the last decade of my life. I would say in the last three years, I have learned even more about myself when it comes to growing and becoming a better person. Adulting is a real thing that when we were kids were completely obviously too. Our parents were the glue that held everything together for us making sure that all the bills were paid, a roof over our heads and other things were taken care of. Today, I want to share five investments you need to make monthly for yourself.
One of the hardest things about having an online business is finding customers to shop or support your business. We all know there are millions of companies like yours or similar. However, most times small business owners are looking at the same marketing playbook that other ones are looking at too. Instead, I want you to tap into your local community to turn those people into customers for your business. Last month, I talked about obtaining one percent of the local community as a revenue stream, but today I want to go even further on how to find these local customers.
Running a small business can be incredibly hard and lonely at times. This is one of the reasons for establishing Business Bestie. Allowing business owners to connect all over the world, but bring it locally when they need a friend who understands and more. Last year, I wrote and shared video content on how if your small business obtains 1% of your local towns support what it could do for your company. I am working on a cool project that solely focuses on obtaining 1% of my local market to grow my business. One percent of my local market is 1,360 people. Take the average sales order and multiple it by your cities one percent. Let me give you a quick example if your city population is 500,000; one percent is 5000 and your shirt company average sales order is $50 that equates $250,000 solely focusing on your local presence. Now, let’s break down how you can establish a local presence for your online business.
Running a small business is pricey compared to what social media teaches you. Even as a service based company, I still have serious overhead to run my company on a yearly. A plethora of the information I am sharing below are tax write offs you can utilize when filling your taxes. If you, have not called your accountant to file your taxes please make sure to add that to your schedule. I tend to call my accountant the first week of the year and schedule my appointment for around March. In addition to that, we meet at the start of the year to talk fisical goals, taxes and more. Just as it’s important to have a relationship with your business banker, you need one with a CPA or accountant in your city.
So, last month I saw one of my clients while I was at his current place of employment. He mentioned that his internet was down and couldn’t do work. He did not want to per se go somewhere such as Starbucks or cafe to utilize their internet access. He asked me what could he do to further his business when his internet service was down, being the person I am I provide him a list of options. Then I thought this would be a great blog post for when you have spare time and do not know what to do.