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5 Ways To Simplify Starting Your Own Business

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5 Ways To Simplify Starting Your Own Business

Many individuals that have always wanted to start a business never do it. This is because the whole business startup process normally overwhelms them. Additionally, they are unsure of the basics and specifics involved.

Granted, everything from putting down a business plan to hiring employees, to coming up with a business name, startups can surely turn out to be daunting. Nonetheless, you should not worry. You don’t have to face all the difficulties involved in starting a business.

The following secrets will simplify your startup process:

 

1. Write a solid business plan

Coming up with a business plan should be the number one step you take before launching your business. The last thing you want is to write up a business plan only when you are in a jam. You don’t have to wait until you need a strategic partner or money.

Business plans serve as a guide to help you in decision-making. With this plan, you can know whether your prospective business is viable or not. The second use of this plan is to satisfy investors and lenders. All these parties need to see your solid written business plan prior to making equity investment or approving a loan. With a business plan, you always have an easy time communicating with potential customers, employees, vendors, allies and partners.

“Chase the vision, not the money; the money will end up following you.” – Tony Hsieh

2. The name game – find the right business name

Every business needs a great business name. Picking a memorable moniker and cool name is the prudent thing to do. If you have the resources, you can hire an advertising agency or naming company to do the trick for you. However, if you do not have the funds financially, you can do it yourself.

Start with a pen, paper, and perceptive ear tuned to everything taking place around you. Ensure you have a checklist. Think marketing! Decide on the ads that shall drive 90% of your business. Primarily, will you rely on print ads, Yellow Pages, the internet, signage at your location, T.V, radio or a combination thereof? Depending on the answers to these questions, certain criteria becomes extremely important.

Domain names and foreign words with hyphens, as well as overdone alterations, are a kiss of death for radio ads and websites. This is because easy pronunciation and spelling are critical. If you intend to drive your business with Yellow pages, then consider picking a business name that begins with A, B or C so that your ad can appear towards the front section.

When coming up with a business name, it is important to differentiate yourself from the rest. Compile the names of your competitors. Do their names really fit the target market? Are their names too conventional while today’s customers are hip and cool, or vice versa? Having answers to these questions lets you know what works and what doesn’t. It helps you narrow your possibilities.

Drew Houston

3. To or not to Inc.? Select the correct legal structure for your business operations

Which legal jurisdiction do you want to set your business? This will help you select the legal structure to set up your business startup. An effective strategy of starting a business is remaining at home. Setting up your startup where you are located gives you more convenience and control.

You should consider your appetite for any liabilities. Various legal entities exist to offer entrepreneurs several protections against liability. An LLC or corporation cushions you the best against being personally liable for employee actions. Nonetheless, no form of organization structure totally shields you from personal liability.

In sole proprietorship, you have no liability shield. In a partnership, you are liable not only for personal wrongful acts, but for those of your partner (s) too. An LLC or corporation does not offer much liability benefits if you do not have partners, contractors, or employees.

 

4. Advisors and funding – get the best

Always team up with advisors that are able and willing to help. For instance, particular aspects of your business shall require the help of professionals such as an accountant or attorney. However, how will you find the right individual or company for your new business?

You need to have a vision – think ahead. What will your company look like in the coming ten years? The lawyer you choose is extremely important. This is especially true if you have plans of going public or seeking venture capital. Most venture capitalists usually judge a company by the attorney the company picks. Pick an attorney that is highly experienced in dealing with venture capitalists.

After working with a banker, accountant, or attorney, do not fall off the radar. Arrange a meeting with these professionals as often as possible in order to learn new offers. Regular meetings will also give you an opportunity to share with them how your business is fairing on. Simply put, have meetings with these professionals after every six months. If any of the professionals are not willing to have a meeting with you or bills you for the time, then or she might not be the right person to work with.

When choosing advisors, be it an attorney, banker, or accountant, make sure you choose nothing short of the best. This ensures you get the best advice. That is for sure.

“Ideas are easy. Implementation is hard.” – Guy Kawasaki

5. Target the right customers – aim towards the right direction

Many business startups tend to be so desperate, that they don’t question who they ought to be in business with. The difference between failure and success revolves around targeting the right prospects.

Before assuming what your potential customers will need, do your homework right. For instance, if your prospective business is a catering company, don’t assume that all customers will only be interested in your sumptuous food. Others will need all the trappings that come along with serving them such as table décor, dishes, delivery, and customer service. You will definitely lose business even before you start, if you are inadequately prepared. Adequate preparation is more than vital.

 

I hope these tips help you in starting your own business. I would love to hear your input in the comment section below!
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6 Comments

6 Comments

  1. Avatar

    Sujain Thomas

    Jul 7, 2015 at 8:02 am

    Is that possible to start up an own business with only five ways?? This thought came into my mind when I read the topic of this article. But after reading this complete article I came to know that it is definitely possible. Sometimes it is difficult for me to gain knowledge and how to consolidate your reviews from the articles because they are not written in an understandable language. But your article is written in very simple language and I like your article. I will share this with my friends. I am thankful to you for this article. Good work!!

  2. Avatar

    Andy Brown

    Jul 6, 2015 at 8:40 am

    Excellent post!!! After very long search I found such extra ordinary article to start up our own business. Starting our own business is not an easy thing because there are several situations come into the picture and to deal with such situations one must and should have the knowledge to solve issues. This article is an excellent piece of information which will give the details of how to start our own business. If you do not know how to consolidate your reviews then read this article once and you will get the answers for sure. Thank you for this post.

  3. Avatar

    Ads

    Jun 24, 2015 at 11:03 am

    Really helpful points to start own business.
    Thanks again

  4. Avatar

    Ernie

    Jun 18, 2015 at 8:58 pm

    Yellow pages? Radio Ads? We must be referring to a Small/Medium sized enterprise. These days, advertising is all about social media (free) and maybe key words on search engines. It should be heavily weighted towards user testing. I say step one is test your business idea first then worry about business models and plans later. Even the name can wait. Just my humble opinion and personal experience getting several businesses started.

    Good starting point is the Lean Start Up and Disciplined Entrepreneur. Fantastic books for any start up.

  5. Avatar

    Jideobi Onyikigbo

    Jun 16, 2015 at 11:50 am

    This just what I needed, talking about ideas, I think you are on point.

  6. Avatar

    George

    Jun 15, 2015 at 4:13 am

    Great baseline for newbies to start from … thanks for such a great post!

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The Truth About Marketing Every First Time Founder Should Know

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While starting your own business is an exhilarating experience, many start-up founders struggle with successful marketing more than any other area of business. So if you’re thinking about starting a business, here are some of the key things you need to know about marketing before you take the plunge. (more…)

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Lessons I Have Learned About Scaling a Business as a Startup Founder

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When I set out to start my own business three years ago, I never imagined bright lights and private jets to New York or Shanghai for business meetings. Good thing I didn’t because it is nothing like that at all. It was a struggle from day one and I had to embrace the grind to grow. (more…)

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5 Hacks to Improve Your Writing Skills in English for ESL Learners

Phil Collins

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Studying in college is hard for everyone, but ESL learners arguably suffer the most. Moving to a foreign country, learning a new language, and keeping pace with the rest of the class may seem like an unbearable burden. It’s okay to feel overwhelmed, but you have to pull through and not give up. 

In moments like this, it’s always a good idea to seek help. Whether you go to WriteMyPaper to order an essay or just talk to a friend, admitting vulnerability is an important step towards improvement. In this article, you will find some tips on how to get better at essay writing, even if English is not your native language.

 

Control Your Environment

Improving your language skills is all about constant practice. Living in an English-speaking community is the first thing you should do to start your practice. It might be tempting to surround yourself with people who already speak a familiar language. However, this way, you won’t be practicing English on a daily basis.

You need to make those lessons almost intuitive in a way that you don’t have to do anything to learn the language. If you live in an English-speaking community, for example, if your roommate speaks English, you will have to practice the language, whether you want it or not.

Still, make sure you don’t take it too far. Taking care of yourself is still as important as ever. Feeling like an alien for the sake of education is not worth it. Remember to keep in touch with your friends and family, talk to them as often as necessary.

 

Practice Constantly

Practicing language is not just about doing your homework. You can make practicing English a normal part of your daily routine by watching TV, listening to music, and reading books in this language. 

Yet, this is a bit tricky. When being surrounded by white noise, people tend to learn not to notice it. You need to ensure this doesn’t happen. As you watch movies or read books, maintain your attention on what you’re doing. If you hear or see a word that you don’t understand – translate it and write it down. Be mindful and remember what you’re doing this for.

 

Writing Is The Answer

If you want to specifically learn to write, you need to do one thing, and that is to write. Continuous practice will help you understand what mistakes you often make and, in time, eliminate them. Focus on your goal, and don’t get discouraged when something’s not working. After all, even Rome wasn’t built in a day!

Get a journal and write in it daily. Pick a new topic every time and note everything you can think of. It’s also important that you write by hand, a spelling checker in your computer is tempting, but it will not help you remember how to spell words correctly. 

Besides, journaling as a habit has multiple health benefits, and it can be therapeutic. It can help you get in touch with yourself and process your emotions better.

 

Learn In a Group

It’s proven that learning in a group is more efficient due to the sense of competition. Find a bunch of like-minded people who want to study with you or join an already existing one, like a speaking club.

The benefit of such activities is that you get all these people from entirely different backgrounds who are all good at various things. This will help you exchange experiences, which is impossible if you’re alone.

Schedule regular meetings, come up with topics to discuss and activities to do. You could watch videos or movies together, or talk about common things. Having assignments like describing an event can also be beneficial for the entire group. This way, while one person speaks, the rest think about how they would say the same things differently. 

This will help you feel more confident in your skills and, consequently, speak and write better.

 

Expose Yourself

The most important thing about learning a language is not to be afraid of making mistakes. It’s inevitable; you just have to take it as a natural part of a learning process. 

A child that is learning how to walk doesn’t give up after falling once, and you shouldn’t either. It’s most likely that your friends understand that you’re just learning a language, and they won’t laugh at you for misusing a word or a few. 

Get over that fear of error and make as many mistakes as it will take. Treat it lightly, and don’t beat yourself up for it. On the other hand, try to attend as many events as you can that will expose you to the foreign language. Not only will it boost your English skills, but also improve your social confidence!

 

Wrapping Up

Learning a language is hard; there’s no arguing about that. However, it’s going to get easier with time. Take every hard thing that life throws at you and turn it into a lesson. 

Watch your favorite movies in English, converse with native speakers, and you’ll see the improvement very soon!

Remember to be patient about it. Don’t give up, and don’t beat yourself up over something that you have so little control of. Good luck!

 

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Remote Work + Education: 3 Tips for Students Who Want to Have It All

Phil Collins

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remote work for students

Probably one of the greatest changes for the last year is the shifting to distant learning and working. There are many advantages to the issue, like, not having to commute every day, staying at a cozy home for a whole day. It makes our lives easier in terms of saving time and energy.

If you’re a student, you don’t have to bust out your textbooks every time you go to university. Instead, you have everything close and on the tips of your fingers.

However, within all the positive moments of distance learning, it is highly challenging for many of us. At college or in the office, we have a schedule, a plan which we simply have to stick to.

There is also a boss or a teacher who gives us tasks, checks and monitors our performance.

Well, now, we are our own bosses and teachers and have to come up with the plan and track our tasks independently.

So, how to stay tuned and efficient if you work and study from home? How to get the most of it and not drown in the ocean of procrastination? In this article, you will find three tips to help you out!

 

Set Up Your Workspace

When many think of a distance learning or work, they imagine themselves wearing pajamas and lying on a couch all day with the laptop. No more dress code, make-up, early mornings, coworkers or group mates, paradise!

This is a common misconception of remote work. If you want to work and study from home, it is crucial to create a space where you would stay focused and productive.

Still, if you have had a hard day and feel like having rest on your comfy couch, but there are assignments to be done, leave your worries to professionals in paperwritingservice, just place an order and enjoy your day.

When we both work and study from home, we stay with all those household essentials and, at the same time, have to focus on tasks. That is why a perfect workspace has to be created. So how to reach this ideal atmosphere at home? Here’re some pro tips.

 

Separate Spaces for Everything

This is a common problem for many that they sleep and study at the same place. Our body is a smart mechanism, which gets used to conditions very quickly.

So, as you sleep in your bed, every time you lie on it, your body gets ready to relax and concentrate is the last thing it is ready for. This principle is applied to any other space in your house.

So, your workspace should be particularly aimed at learning or/and work. Every time you get there, your brain will be ready to do the job.

 

Get Rid of All Distractions

This is a very important step if you want to stay productive at home. Your home may be a dangerous space in terms of concentration. To make it easier, help your brain and get rid of everything that might attract your attention and ultimately prevent good performance.

 

Plan Your Day

Every morning when you wake up, you approximately know what the tasks for a day are. So, what’s the sense in planning a day if you already have it all in your head?

This is one more important concept that helps us have everything done on time. Planning a day saves you time and boosts motivation and disciplines.

 

Here’s how it is done:

  • You write down a list of tasks that have to be done;
  • Prioritize them from less important to more important;
  • Hang this list somewhere, where you can always see it;
  • Mark completed tasks.

When you mark the task as accomplished, you’ll get a sense of satisfaction, which may be compared to some sort of praise. There are many tools to write a to-do list from paper to online apps.

 

Dedicate Time for Yourself

When you work and study from home, there will be a risk of abandoning our personal time in favor of more important matters. This factor leads not only to great results but also a concept called burning out.

When people face it, they feel exhausted, demotivated, and apathetic. To avoid this, it is crucial to have time for things you enjoy. It may be a sport, hobby, listening to music, watching movies, seeing friends. Your brain has to relax and get positive emotions to be more efficient in the long run.

 

Final Words

No matter if you want to work and study from home, these principles can be applied to any activity. To manage it all, just follow these basic rules, and you’ll see how your productivity boosts.

Good luck with all your endeavors!

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