Saturday, November 24, 2007

Hobbies: Good Or Bad?

Don’t let your hobby be a distraction. It’s fine to take a break sometimes. It’s certainly fine to have hobby. But don’t let it be a distraction to your business. There are times when one can get so caught up with his hobby. After all, hobbies are quite fun to do. But it should not take away time from your business more than it should. Always keep your priorities straight. Before you taking off to do anything else, always make sure that everything is in place. Make sure that even in your absence things will go smoothly and well.

You can also make your hobby be more than just a hobby. You can actually make your hobby a business opportunity. Since it is your hobby, you must already have enough knowledge about it. If not, you are at least interested to learn more about it.

Let’s say that you are interested in cross stitching. You can start selling cross stitching materials. You would know what fellow cross stitch hobbyist would need. You would know what types of designs are in demand.

If you are into sports, you can have your own sports complex. Instead of renting, you and your playmates will now have your own place. Instead of paying for it, they will pay you instead. You can invite other people to use your facilities and earn on it. You can also sell some sports equipment.

So instead of your hobby being a distraction, it can be a business opportunity. It should be easier for you. You will be enjoying your hobby and you will be earning at the same time.

Saturday, November 17, 2007

Are You Ready To Take A Chance?

Starting up a business is really a gamble. One should not do it if he’s not ready to risk anything. You’re taking a chance with your money and your time.

Well, if you are not doing anything at the moment, time isn’t really a big deal. But let’s say you are working at an office or in fact, you have a very promising career. It would be so hard to give it up just like that. You are not sure that you will earn more or if your business will succeed. But you will be foregoing a hefty salary for your business. So you ask yourself. Would your business be worth giving up your high paying job?

Money is another important matter. Not everyone has massive amount of savings. Most budding entrepreneurs in fact have to borrow funds first in order to raise enough capital for their business. You could be putting your life time savings on the business. This is quite a risk since it is all you have financially. Are you willing to take a leap of faith?

You don’t have to go blindly with your decision. Although much of doing business also has got to do with luck, much of it can also be examined and studied. You should do all the analysis there is and decide better. Or, perhaps we could call your decision an intelligent guess. It’s not really a guess. But since we have recognized the element of chance here, let’s just call it that too.

But like in any line of business, the bigger the risk the greater is your return. If you want to achieve a greater success you must be ready to risk more. Do you assignment to lessen taking chances. But acknowledge that much of it still depends on how your target market reacts, on your business itself and even on some externals factors out there.

Sunday, November 11, 2007

You Are Your Own Advertisement

You are your business’ first and foremost advertisement. You should always remember that. As the proprietor of a business, people who know you would always associate your business to you. Your customers will also judge the quality of your product or your ability to perform a service by looking at you.

Let’s say for example you have a bakeshop. It is important that you always look clean and tidy. You should never look so dirty in public or else they would also think that the bread, pastries and cakes you are selling are dirty.

If you own a beauty salon, you should always look well groomed and polished all the time. In short, you must always look good. Your market would think you will not be capable of making them beautiful if you cannot even take care of yourself and cannot make yourself look good.

You should always project an image you want for your company. And always remember to have good PR because there’s nothing better than being a credible advertisement and endorser of your product or service.

Wednesday, November 7, 2007

Knowledge Is Power

Although you may have the talent and basic know how on the line of business you want to and are engaged in, getting additional knowledge would truly be helpful. The more knowledge you have the better. You should not stop arming yourself with more weapons to unleash for the operations and the improvement of your business.

I have a friend whose family had been into hog and chicken raising and farming for three generations now. He somehow knew how their business ran already. But he was sent to a workshop by his family specifically to learn more about their trade. When asked why he needed to go, he said this is important so that they would be updated with the latest best practices and the latest technology. This will help them remain competitive and even gain competitive advantage to their competitors.

I also know someone who loves photography. And as business minded that he is, he decided to make his hobby a living. But before he embarked into the business, he attended the best workshops around the country and tried to learn everything he could first. Although he knew that he could take great pictures, he found it necessarily to enrich his talent and knowledge so that he could offer better photography services to his clients. He even decided to learn the latest digital multimedia technology.

If you have got the talent and know how, that’s great. But you should not stop there. From the start try taking a step further by learning more about your business. And even when or if you are already established you should upgrade your business and yourself from time to time to maintain competitiveness in the market.

Saturday, November 3, 2007

Now You See Me, Now YOu Don't!

It's important for your business to be there when your clients need you. You must be most accessible to your target market than any of your competitors. If you are not, then you will eventually lose your customers no matter how long you've had them.

If you have a physical store or office it's important that you are open when you're supposed to. You should maintain regular store hours and always announce your store holidays way beforehand. If your customers come and you are closed, they will go to other establishments and might continue to do so even when your store is open.

The same is true with online stores. Your website should always be up 24/7. If you have to do maintenance or if you have to update it, it is suggested that you inform everyone days before your site will temporarily be down. If you do not, customers may come when your site is not available and get frustrated that they will just patronize other sites instead.

The important thing is you do not confuse your customers. They must also feel that they are important to you. They only want to be served when they come. And if they are not, they will look for service elsewhere. But if you tell them you are willing to serve them, not all but many would wait especially if it's your service they really are looking for. But you should not also abuse this hold on them. Because if you do, they will be fed up on waiting for you to be available and go to the next option they have. Still, the best thing to do is to limit scheduled and unscheduled holidays and website downtimes and be there when your customers need you.