Blair Stover

Small Business and Entrepreneurship

Archive for category Business

3 Steps to Writing Your Business Plan

Mar 14

Posted by blairstover in Business, Business Plan, Entrepreneurs, Small Business | No Comments

Business Planning with Plan-Too

If you are considering launching a business, you will want to ensure that the idea you put into place will make it in a competitive market. Planning your ideas and how to fulfill them is an important part of starting any business and is especially important when creating a business plan.

The business plan is nothing more than a document that organizes and presents your project. Your business plan should be in document format and should include the company forecast with its highest potential. This can be very useful when recruiting investors/funders and any other partners that may be critical to your business.

Here are the sections of a typical business plan, provided by Blair Stover:

- Presentation of the project and creator

- Contextualization market and external environment

- Setting goals and objectives

- Business Strategy

- Company Structure

- Preparation of financial forecasts

- Control and management of business

- Investments needed

- Attach documents and other information

Creating a business plan may seem like a daunting task from where you are sitting, but you can accomplish it in three simple tasks:

  1. Committing to the whole process. Make sure that when you decide you are going to do a business plan you will finish it. Never quit just because it gets hard. Remember, if you get stuck you can always hire a professional to help.
  2. Be accountable. It may not be the best thing for you to try and go at the business plan yourself. Have someone keep on you so that you finish. Set a goal for yourself and do not break it.
  3. Use all available resources. A business plan is never going to be easy, no matter what kind of business you have. There are free resources out there for you to use, so search for them.

Remember, a solid business plan is the foundation for any business, big or small. Taking the time now on creating your plan will pay off with clear goals to show both investors as well as potential collaborators.

 

Related articles

 

Enhanced by Zemanta

Tags: , , , , ,

Your Business Will Always Need These 5 Ingredients

Mar 6

Posted by blairstover in Business, Entrepreneurs, Small Business | No Comments

Your business will always need something more. It could be customers or improved services or products. It could even be improving your process. The only problem with brainstorming is that you could come up with hundreds or thousands of needs if you sit down and think about it long enough.

It is up to you, as the business owner, to figure out what the most important issues are and what your business needs most. There are a few things, however, that every business needs to survive in today’s world.

  1. Fresh Ideas. It doesn’t matter what market or industry you’re in, chances are pretty high that you will need fresh ideas regularly. Look to new sources in order to gain new inspiration.
  2. Business Models Which Are Easily Adjusted. With new ideas coming in by the minute, you want to make sure you can back them up with a strong business model.
  3. Marketing Plans. A strong marketing plan is going to help you answer very important questions along the way. How are you going to acquire, maintain and then grow your consumer base? Without customers, you have no business.
  4. A Winning Team. Just because it looks good on paper doesn’t mean it will look good when you implement it. Make sure you have a great team to see it through.
  5. The Drive. You have to have the power, willingness, desire and courage to succeed.

Does your business have all five? Share with us how you’ve met all five needs in the comments below here at Blair Stover.

Related articles
Enhanced by Zemanta

Tags: , , ,

Link Building Tips for Beginning Entrepreneurs

Feb 14

Posted by blairstover in Business | No Comments

How can you assess the true power of your domain? Link building is an old staple to search engine optimization. Though many new factors are now being incorporated in search engine algorithms, having quality links remains a critical cornerstone for any SEO aspirations.

Blair Stover is happy to present to you a few tips that are specifically designed to help link builders find quality links to exchange with or post a link on.

  1. PageRank fluctuations. The PageRank rating of sites has an impact on a page’s authority. When looking at a site, consider whether it has greatly fluctuated or not in regards to PageRank. If it has, it may warrant a second look to determine if the page is consistently a quality site or not.
  2. Site of Unique Content Check. Google punishes sites that do not have unique, quality content. Be sure the site updates regularly with content that is considered original and good.
  3. Check backlink profile. The back link profile of a website gives you information about that site. A naturally evolving domain has backlinks from different portals, which should have a varying PageRank.
  4. Indexing Status. Is the page on which you want to put a link even indexed in Google and other search engines? If not, the answer is likely no
  5. Check visibility index. Tools like Sistrix, Xovi and Searchmetrics set the visibility index of domains. A highly visible site can be a good place to put a link.
  6. Checking C-Class Network. If links from different C class networks are related to a domain, this is not a problem. However, if domains of a C-class network are linked to a domain, this can be viewed as a network.
  7. Check Outbound Links. The fewer outbound links a domain has, chances are the more credible and better viewed by Google the site is.
  8. Google Cache review. The procedure is simple: You Google the target page and look at the cache, which are areas of a site that seem important (these are highlighted in a red box). You will want your link on an important part of the site, if possible.
  9. Source Code Check. The source code of a page may disclose hidden links. Make sure you clear these out before requesting a link exchange because Google frowns upon hidden links.
Related articles
Enhanced by Zemanta

Tags: , , , , , ,

Promoting Your Business on a Budget

Feb 6

Posted by blairstover in Business, Marketing | No Comments

When your budget is tight, there are times when you must find marketing outlets available for a low cost. After all, even if the budget is strained doesn’t mean word about your company should stop spreading.

Image representing Twitter as depicted in Crun...

Image via CrunchBase

 

Being attentive and calm will help you overcome difficulties and both are essential to surviving in today’s market on a low marketing budget. Follow these tips to help promote your business with minimal expense, as provided by Blair Stover.

  1. Use online media more effectively. That’s really the key to efficient communication and most of the time it only costs you the time it takes to sit down and update.
  2. Use online advertising. Abandon print ads for only a few months (or forever) and see what online advertising can do for you. Chances are you’ll pay less with increased traffic.
  3. Provide quality content in exchange for advertising space. If you are still determined to use print ads, try sending an article about the local market filled with facts, figures and some opinions, and see if you can partner up with another business in exchange for an ad.
  4. Reinforce your newsletter. If you have the habit of looking at newsletters (corporate newsletters via email), now is the time to dedicate yourself to sending them frequently.
  5. Local partnerships. Schools, churches, community centers and local clubs are always willing to lend a hand. Although this is not the moment to offer a contract for financial sponsorship, you can start a new relationship that will give your company some new visibility.
  6. Try the new era of social networking. Sites like Facebook, Twitter and Linkedin have added a new dimension to the way business networking acts. Try connecting with old partners, friends and colleagues, and making them aware of what you do now. Word of mouth campaigns can go a long way.

 

 

 

Related articles
Enhanced by Zemanta

Tags: , , , , , , , , ,

Successful Business Plans for Your Small Business

Jan 13

Posted by blairstover in Business Plan, Marketing, Small Business | No Comments

Business plans will generally refer to announcements that give the public or other people and businesses a particular set of targets which are made officially or formally under the belief that these targets can be reached. If you are a small business owner, you must have a clear understanding about the ideas that you want reached and this is why a business plan and precise planning is so detrimental. These important set of goals can facilitate and navigate your business in a way to better understand your strategy, but it will also help your partners and investors do so as well. As Blair Stover details below, writing up the perfect business strategy usually comprises of vital elements that break down each section of your business.

When you begin the process, you always want to start off with outlining areas first. These are the possible business names, addresses and ideologies that is going to direct your company. If you have your business up and running, two of these issues are done already.

The next step will be drawing up the executive summary that mentions the company’s setting, money requirements, mission statements, targets, management overview, market opportunity and potential requirements. It is important that this section has plenty of credibility so it attracts clients.

Afterwards, you should put more features down and show more business strategies, pre-existing strategic plans and your plans to succeed. This is also a good time to illustrate possible costs and intellectual assets you might own. You might want to cover other things like business management, accounting and security as well.

Marketing is covered in this section and this is where you should cover public relations, customer service, market research analysis and marketing plans. Calculate financial projections and input possible risks and advantages of investing.

Enhanced by Zemanta

Tags: , , , , , , , , , ,

Things to Consider Before Hiring an Intern

Jan 8

Posted by blairstover in Business, Business Plan, Interviewing, Small Business | No Comments

Having interns come through your business can be a very positive experience for both you and the intern if you let it be. Many small businesses are running through tight financial situations, especially considering the economical state of things. Businesses are strapped for money and having an internship program can be a great way to help owners boost their creativity and productivity.

But the benefits aren’t just for owners. Interns get plenty of experience that many may not receive from larger corporations. Smaller businesses are great for assigning more flexible duties and allowing interns a greater opportunity to gain experience in the workplace and industry. If an internship is in the works, Blair Stover has a few tips you should know first:

·      You should always plan on paying your interns. If you want an intern that you don’t have to pay, make sure that they are performing work that does not contribute to the daily operations of your business at all.

·      Internships are all about mutual gain. Both parties need to be gaining something, not just the business.

·      If you absolutely cannot pay your interns, be sure there are perks in place, such as personal mentoring and flexible hours. Yes, they are getting experience, but work still needs to be rewarded.

·      Make sure you have goals in place before hiring interns.

·      Always be aware of the legalities of hiring interns, such as worker’s comp issues, anti-discrimination and health/safety issues.

Following these simple tips could save you and your business a lot of time and money but can also give interns a chance to get some valuable experience in as well.

Enhanced by Zemanta

Tags: , , , , , , , , , ,

Why Your Website Might be Failing

Jan 3

Posted by blairstover in Business, Small Business | No Comments

Owning a small company is hard enough without having to worry about something extra like an online business, which is exactly what a website is. One of the plug-ins could be broken or the contact form could be spitting out error message after error message. Maybe it is the fact that your customers are complaining that it takes way too long for the web pages to load or maybe your shoppers can’t even complete their checkout process.

Your website is designed to make you money but it is also there to ensure that your customers find it easy to give you that money. If they can’t do so, then you will lose their business. Thus, your website needs to be well put together and well-maintained in order to keep your customers coming back. Here are some common pitfalls that websites seem to run into:

1.     Your site is annoying. Don’t play videos or music on your site. People do not like it and those with slow modems and routers will be more likely to click out instead of stay.

2.     Slow loading sites. People do not have patience so make sure your site is speedy. If it doesn’t load in a few seconds rethink your design.

3.     Poor design. Make sure your site looks like it was created in 2012, not 1992. Credibility comes at first glance.

4.     Broken shopping cart. People hate to see something they want and then get to the checkout line only to find out they can’t buy it because your site won’t let them. Be sure your shopping cart works.

5.     Contact page isn’t working. If people have questions, they expect them to be answered. If you don’t have a contact page clearly display at least two ways your customers can contact you.

6.     Cluttered sites. No one wants to look at a site that seems to have things just thrown on them. Make sure it’s organized.

7.     Hard to find sites. Don’t make your site hard to find. Provide images or links for the things that are necessary.

Here at Blair Stover we know the importance of a good web site for any business, big or small. What are your tips on making sure your website is updated and attention grabbing? Be sure you share in the comments below.

Enhanced by Zemanta

Tags: , , , , , , , , , ,

Common Leadership Complaints

Dec 30

Posted by blairstover in Business, Business owners, Business Plan, Employee | No Comments

Any person that has worked in business, whether it has been in a management position or in labor, knows that it is impossible to make everyone happy. This is true from a worker and a customer standpoint but should a company even try? Yes, they should.

Giving up on employees that are disgruntled only makes matters worse. So what can a business owner do about it? Blair Stover breaks down a few areas that will help owners bring disgruntled employees and favorable conditions back together again.

  •  Encouragement: When disgruntled employees were asked about the skill that their boss was lacking the most, employees were leaning more towards “motivating and inspiring others.” An owner should encourage the staff and work hard to inspire everyone.
  • Trusting: It seems like no one trusts each other anymore. They key to all of this is to ensure that the other can change their habits by striving to do the things they say that they will.
  • Taking an interest: A worker works to get paid. However, a worker who learns has a career and gets paid for it. Make sure that your employees know that you are behind their advancement.
  • Keep them in the loop: Make sure your employees are kept in the loop. Great communication is very important in the owner-worker relationship.
  • Honesty: Ensure that you let your workers know how good (or bad) they are doing on the job. They will respect you a lot more by doing so.
  • Connection: Make sure you connect with your people. Don’t have favorites; treat all your employees the same.
Enhanced by Zemanta

Tags: , , , , , , , , ,

On Choosing a Start-up Location

Dec 27

Posted by blairstover in Business, Business owners, Business Plan, Small Business | No Comments

If you are a new entrepreneur, one of the first things you should have done before you started your business was to figure out how you were going to make your money. If you didn’t do this, you are already failing. Blair Stover has more on how you can choose your perfect start-up location below.

As an entrepreneur, you should never have an issue with telling your customers about your services or products. Remember, if you do not have customers, you have no revenue. You must also keep in mind that you cannot just try to sell all of your services and products to people all over the world right out of the gate. You will end up wasting your money and your time and you will accomplish nothing.

Choosing a market is very important and that is why you should keep these things in mind:

  1.  How many clients are in your market? One thing you should always keep in mind is that a huge market might be dominated by a couple of businesses. Or you can look at it another way – a global market could be in control by one or two regions. You have to know the amount of potential clients is in the target market.
  2. Are your target clients able to pay for your services or products? Keep in mind that your prices will be determined by what your clients can pay. If you live in a rich market, you could probably afford to raise your prices.
  3. Do you understand your target audience? Your clients will change their mind about things on a daily basis it seems, so make sure you know how to adapt to their behavior.
  4. How many competitors do you have? If you are working against 20 other competitors just in your city alone, it might be very hard to win over a target audience unless you have something they don’t.
  5. Comparing your business to the competitors. You should see how your business stacks up to the competitors and that will tell you if you have a chance at winning or going broke.
Enhanced by Zemanta

Tags: , , , , , , , , , ,

Tips for Dealing With the Holidays

Dec 23

Posted by blairstover in Business, Business Plan, Small Business | No Comments

The holidays are here and even though it is supposed to be a time of celebration and joy, sometimes it doesn’t end up that way. We have all been there at one point or another. The last minute shopping, dealing with crazy traffic, running out of money, meeting up with family that we really don’t like – the list goes on and on.

But what if you are an entrepreneur? Having a business could be even worse during the holidays. If you are not ready for the rush (or lack of it), it could catch you off guard and you could end up paying for it. Here are some tips, provided by Blair Stover that will help you avoid some of the stressful times of the holidays:

  1.  Get organized. If you don’t have access to a calendar, now would be a great time to get one. Prepare yourself and make plans to forecast what could or could not happen during the holidays. Make sure everything is not about the business. It is important to put some time aside for you.
  2. Communicate. Let all of your clients know that potential turnaround time could be slower because of the holidays. Most people will understand because it will happen to them too.
  3. Thank your clients. Make sure you thank your clients for their business and their understanding during the season. They will appreciate it and if you have special services, make sure you send them out early enough that it gets to them well before the holiday season.
  4. Get some help. Sometimes people may not be able to do it all. Asking for help isn’t a bad thing. Get some people you trust and enlist their help.
  5. Take a break. Everyone needs to step aside and breathe. You need to enjoy the holidays like everyone else.
  6. Set boundaries. Make sure everything is scheduled and goes according to that schedule as best as it can. Do not break the mold if you don’t have to.
Enhanced by Zemanta

Tags: , , , , , , , , , , ,