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Being Prepared Is Good Business Leadership

Last week I found a website on business preparedness launched by the SBA. The website indicates that roughly 40-60 percent of small businesses never reopen their doors following a disaster. They defined disaster as long-term power outages, hacker disruption, fire, earthquake or other catastrophes. I’m confident many of you reading this post have disaster recovery plans for your technology and maybe have addressed the other possibilities through insurance options.

Congratulations for your good business leadership skills. It made me think, though, that being prepared isn’t just about disasters. Yet we often focus our preparedness on dealing with disasters, should they occur, and not on the week-to-week or month-to-month preparedness that would be helpful to the business or our company.

I think good business leadership means being prepared for all eventualities. Here are some examples.

What happens if a key person in your organization leaves? Recently one of my clients had an employee leave who was the only person in her company who performed a certain critical task. In her words, “I feel like it’s Hiroshima.” She’s now hiring a replacement and intends to train three people to

Effective Insights On Creating A Good Business Name

A good business name is a company’s trademark. It is the label by which you make transactions with your customers. Moreover, it has both legal and marketing factors which must be highly regarded. Choosing the exact word or words that will summarize your entire business into one great label could be very challenging. In fact, most small business owners settle with their second or third choices as their first options are always taken. There are times though when entrepreneurs pursue the company name they want despite legal risks – infringement of intellectual property rights – just to get a ride of the wide recognition that already comes with it.

In the legal standpoint, a label that is non-descriptive makes a good business name. This could be the exact opposite of what the marketing standpoint demands. Description of business name is crucial in making your audience understand the nature of your products or services. This goes to show labeling your company needs the best efforts from your advertising and legal teams. While you take into consideration the interest of your customers in

Easy Guide To Finding a Good Business Mentor

Finding a good business mentor may not be the easiest task in the world. You know that to bring your business to the next level, you need a mentor that will teach you and point you in the right direction. But you might not know how to get the right person.

Not to worry though because I have put together an easy guide that you can follow that will make life much easier for you in your search for a business mentor.

First of all you need to focus on people that have the same values as you. You don’t want to get a mentor that doesn’t because that can cause big problems in the future.

Your mentor also needs to have lots experience and has their own successful business. No sense finding a mentor that is just as new to business as you are. You need to find someone who has their own successful business so that you can follow in their footsteps. Someone that has years of experience and has been trough most of the pitfalls that you will probably run into. This way they will be able to warn you so that

Eight Key Elements of a Good Business Strategy

What is a business strategy? A business strategy is an articulation of the overall direction of an enterprise in the medium and long-term. It basically specifies the way an entity competes in an industry. In other words, strategies define the rules and guidelines by which the mission, objectives etc may be achieved. Such strategies can cover the whole business or can relate to functional areas such as operations, marketing, finance or human capital. Strategies differ from tactics which are short-term approaches. Your organization requires a unique strategy to be able to differentiate itself properly in the market. But what are the eight key elements of a good business strategy? What constitute the salient features of a good business strategy? The guidelines are contained in this article.

1. The vision, mission and values of your enterprise are vital. You need to define the purpose of your enterprise. Your vision is where you want to be in the future while your mission is the fundamental reason why you exist. Your enterprise values signify the guiding beliefs that underpin its culture.

2. A SWOT analysis is another important element of your business strategy. You need to analyze your strengths

The Key to a Good Business Plan

To put things simply without a good business plan you’re technically not really in business. You need a business plan, it is your tool to attract funding or as a strategy document. It is what is used to gain interest within your business, without one no one, especially investors, will look at your business twice.

Bringing your business plan together

Putting together your business plan makes you take a good hard look at every aspect of your business. It makes you look into the key aspects that keep your business together. These factors include the value your offer to customers, your competition and aspects that will affect your businesses financial performance in the long haul.

Not only will producing such a plan be beneficial to anyone who is going to become involved in your business but it will also help you understand whether certain factors within your business will be worth pursuing. It is better to find out these things before hand as opposed to when you have spent money investing in these aspects.

A good and flexible plan can help you manage your business throughout its lifetime. The reason that I say this

Sail to Success With a Good Business Plan

Whether you have just set sail in your business, or are changing course mid-voyage, a solid, highly detailed business plan will get you where you want to go. As a ships captain relies on the integrity of the ship, and a good map and compass, business owners rely upon a good business plan to navigate unfamiliar territory and reach their chosen destinations in one piece, and via the most direct route possible.

A business plan is the framework of your business (your ship). The success of your business is ultimately determined by how detailed, well built, efficient and leak-proof your vessel is. If you are facing setbacks in spite of having a business plan, make a list of all the functions of your business, and examine them one by one to see where the holes are. Do you have a crew of individuals on board who know their functions and perform them well, or do you (the captain) also find yourself swabbing the deck?

Do you know how to hoist your sails to catch the best breeze to send you on your way? If your business is sagging due to lack of income in one area,

Good Business Ideas to Go By

Business is as old as mankind. What changes maybe is the way we do it and the people who are in it. Business people make a success of their activities at different levels and those that are quick to tap from new ways of doing business are having an upper hand. Technology is no doubt having a lot to do with the way business is done, and presenting new business ideas. These are some of the ideas to go by if we are to get anywhere near success in today’s business.

Talking of technology, online business is one business favored by technology and one that is doing really good. We have heard about guys who have made a decent living, to the tune of billions, just from online business. Most of such people are those that have mastered the art of network marketing, or internet marketing as some would like to call it. So this, internet marketing, is one of the good business ideas? No. Don’t even think of it as so.

Internet marketing has sure worked for some to make them a rich lot. However, this is one of the earliest online business ideas. As