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If you’re an entrepreneur who’s been managing your very own small business for a while now – good for you. People underestimate just how hard starting up can be until they’re experiencing all the pitfalls for themselves. It’s very easy to give up when things aren’t going your way as the feeling is so exasperating and you’ll assume that you’re the problem who isn’t able to do anything right. Well, you might be, but there might also be many different issues that are out of your control. One of the most important things to remember is why you started out in the first place, as this may just be the push of motivation you need to ride through the stormy waves to get to the calm sea again. Nobody said it was going to be easy – you will be tested, and it’s how you deal with problems that will determine whether you’re cut out for this or not.

The key is to think ahead and try and be as prepared as you can be for an issue, so that if and when it does happen, you know exactly what you need to do in order to resolve it.

Here are a few ways to ensure your business runs smoothly.

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Nowadays, the majority of people are setting up their own small businesses from the comfort of their own home. All that they need is a laptop and an internet connection to create a website that can see them establish themselves as a serious competitor within any given market. However, as any company grows and expands, it could generally benefit from having some sort of tangible presence too. This is why many larger brands have brick and mortar stores. While you can operate online and run a brick and mortar store at the same time, and this is definitely something that you should consider doing if your business is experiencing success, operating on a brick and mortar basis can prove particularly tricky for those who haven’t conducted business in this manner before. For now, let’s focus on commercial property. If you have previously operated solely online, chances are you know very little about commercial property. The majority of people will automatically seek out an existing commercial property to rent in a high footfall location. But this tends to come with a huge price tag and many see themselves struggling to generate enough money to maintain their store, consequently making little outright profit. A good alternative would be to create your own commercial property from scratch instead. Here’s everything you need to know to get started!

Read More Creating the Perfect Commercial Property from Scratch

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If you ask any project manager what is the worst thing about managing a project, you can guarantee that the vast majority will say ‘scope creep.’ There is nothing worse than feeling like a project is smoothly and that everything is under control, only to be met with numerous change requests, which have come completely out of the blue. Before you know it, you have serious scope creep, which can take hours and hours of a project manager’s time. Keeping that in mind, continue reading for some top tips regarding how to prevent scope creep.

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Be a dynamic provider – There are two types of service provision. The first is a dynamic provider, which is what you need to be. This is when the service provider workers alongside the client to establish what is required for goals to be achieved. On the other hand, you have passive providers, which is when the client simply tells the service provider what they need to do. You need to be a dynamic provider so that you can collaborate with the client, and so that you have the ability to be critical of their ideas. By building this relationship, you will be able to challenge their suggestions or tweak them, if required. If you have a passive relationship, you will be expected to follow everything they say, which will inevitably cause scope creep.

Read More Preventing Scope Creep

Small Business

Sales are usually what our business’s success or failure comes down to, and there is a whole lot of advice out there on how to increase yours. However, before you do be sure to consider the points below as well, otherwise you could end up with more orders than you can practically handle. A situation that instead of boosting revenue could end up generating a lot of angry and dissatisfied customers. Read on to find out more.

What is your lead time on production?

The first issue that you need to concern yourself with is whether you have enough stock currently to cover all those extra orders. If not, then you could be facing an issue, and that is why it’s important to think about the lead time you need to produce enough units. Otherwise, you will have a large backlog of purchases that aren’t being fulfilled. Read More 4 Things You Need To Be Aware Of When It’s Your Aim To Boost Sales

Sales

If you would like to make sure that you always have money in the business account to cover the costs and invest in growth, you will have to focus on methods to improve your business cash flow. There are several ways you can go about it, and you don’t have to chase payments or employ a financial guru to get your money and pay your suppliers on time. Below you’ll find a few tips on getting started.

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Online Apps

The first step of improving your business cash flow is making sure that you are in the picture all the time. Instead of collecting all your invoices and receipts and dropping them off once a month at the accountant’s offices, you can now record your income and outgoings using an online small business app. This solution is cost-effective and will give you a real time snapshot of your business finances.

Read More How to Plan for Growth and Maximize Cash Flow

Small Business

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We all have things that stress us out in life. For some of us, there are a lot more stresses that we need to deal with. Entrepreneurs can get very stressed out at times – if you run your own company, you are probably very much aware of this! As a business grows and develops, the lists of stresses that an entrepreneur has can often change. Some will disappear while others will rear their head. However, some stresses seem to always be there for entrepreneurs. Here are the top 5 for all entrepreneurs.

 

Money

Finance is a huge part of business and company owners need to be constantly reviewing their company’s current financial situation. Not only that, though, but most need to always be on the lookout for new investment and thinking of ways to increase their profits. So, there is no wonder that money plays so heavily on the minds of entrepreneurs. An obvious addition to our top five list!

Read More The Top 5 Stresses For All Entrepreneurs

Small Business

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As a society, we are very lucky with the tools that we have to work with nowadays in business. The more time passes, the more knowledge we gain and the better we become at solving problems. Back in the day, businesses were a lot harder to manage because the whole process was different. For example, when engaging with a potential customer, it would take at least a few days in order to get in contact with them if not done over the phone or face to face. But now, all people have to do is send an instant message and they will get a response back within minutes. – Things have never been easier. So much so that we now argue over Google drive vs. Dropbox being the best, whereas ten years ago neither existed. But having said that, competition is a lot more serious now too because the game is constantly changing, and it’s important that you keep up with new techniques and strategies so that you stay ahead with the best, and don’t risk falling back and missing out on business, exposure, and of course sales.

Here’s the best way to stay current.

Read More Why Modern-Day Tech Is So Important Within Business

Small Business

Getting your very first company up on its feet is an exciting and challenging process. While you may be eager to get started cashing in and growing as soon as possible, there are a few steps you should take care of first to ensure your business has a solid foundation. By skipping these essentials steps, you may put yourself up for countless hours of extra work and a massive headache, at the end of the day.

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Here is a handful of the most important things you should get done before the final launch so that you can feel a bit more confident.

#1 Get your hands on that business name

The name of your company is kind of like its identity, but there is so much more to a name these days than it used to be. By getting it right, you’ll have a catchy and functional address for your business as well as a proper trademark to get you started; make sure the trademark is available, first of all, and proceed to look up if the domain name is taken or not.

Don’t assume that the new business name is not trademarked just because you can’t find it online. It may mean that someone registered their business without having proceeding to ensure the domain name, for example, and you don’t want to risk buying this name before you’ve obtained its official trademark. Get in touch with a UK company formation agent to help you out and do a trademark search online to take care of this before anything else.

Read More The Basics of Launching a New Company

Starting a Business

Are we entering a new age for entrepreneurship? If Dr. Mark McKenna can be taken as an example, then the answer could just be yes. His combination of medical knowledge with business knowledge has so far allowed him to create not just one, but two outstanding businesses.

 

It all started with real estate, but after Hurricane Katrina devastated New Orleans and wiped out much of his property portfolio, Dr. Mark McKenna thought about getting back to his roots. He had actually begun his working life as a doctor working at his father’s medical practice. Having studied medicine at Tulane University Medical School, he had needed to stretch his wings after graduating. Working with his father soon gave way to his own business, but perhaps the time had come to go back to medicine again.

 

There was a niche in the market that Dr. Mark McKenna noticed, and that no one else was yet tapping into in the way that he knew he could. That was the beginning of ShapeMed, a single clinic that soon blossomed into a wide portfolio of sites based from Atlanta, Georgia.

 

The concept behind this practice was simple: a wellness and aesthetic based medical practice, where customers could come easily to look after their health and also make changes to their look. In fact, it only became natural to combine the practices with another form of health business: the gym, where many people go for the same reasons. If you’re improving both your health and your look in one way, it makes sense to provide access to do the same thing in another way at the same venue.

 

That was why it made so much sense for Life Time Fitness Inc to purchase ShapeMed in 2014, just seven years after the business had initially been launched. Dr. Mark McKenna stayed on as the company’s National Medical Director after the sale, helping them to ensure that they maintained the same level of customer satisfaction whilst also developing new services.

 

If he was just a doctor who got lucky with a couple of businesses, the story would likely have ended there.

Read More Dr. Mark McKenna and the New Age of the Docpreneur

Entrepreneurship

As a construction company in a competitive business landscape, clients expect you to go above and beyond to deliver excellent results on projects. In this industry, reputation is everything. There’s no room for cowboy builders. Cutting corners on one project could affect your chances of getting any clients in the future. Customers pay lots of money for construction projects, so they want to know that they’re going to receive a professional, safe, and high-quality service. In order to make that happen, you need to plan each construction thoroughly. Here’s some advice on creating a concrete plan for a construction project.

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Set a generous budget.

This might be easier once you’ve finished your plan and considered every potential cost you’ll face, but it’s very important to set a generous budget before getting started with construction. Unexpected events that weren’t factored into your plan can arise during a construction project. That’s why it’s important to give yourself a financial safety net so as to prepare for any setbacks. For example, you might face adverse weather conditions during the project that cause the construction to slow down; perhaps materials will be damaged and you’ll have to pay for replacements as well as additional labor hours for your workers. Not everything is under your control. A well-planned construction project accounts for this fact. Your budget should be generous enough to cover unexpected costs.

Read More Creating A Concrete Plan For A Construction Project

Small Business