So
when creating a business you need to plan everything for better
performance.
Create
a business plan for yourself to know where you need to start and
where you need to end.
You
also need a business model so you know where to focus you need to
know to who you need to sell and what of course.
There
are many things you need to do when creating a business you need to
email a lot of people so they know your business and very flexible.
When
your business is not selling a lot you need to be very creative with
selling products and sell more and more everyday.
A
business can be a great Revenue stream for you or a liability of
course .
And
don't begin to big but also not too little just a perfect size of
your comfort.
Be
aware of that your plan could fail or succeed but always have a
backup plan just in case.
So
a business need to have value for costumers .
You
can either focus on one of these markets
Mass
market
A
mass market is a large group of customers while you are filling their
needs with your products. When you are focusing on a mass market you
need to have a great relationship with them because in a mass market
the best market is the mouth of the mass market.
Niche
market
When
targeting a niche market you have specific targeted customers .
Segmented
When
focusing on a segmented market you choose to seperate your customers
in sections just like a webhosting company has webhosting for
individuals and for businesses other solutions . They put some
sections like businesses , individuals , people who can't program ,
people who can program and so on.
Starting
a company
when
starting a company always think about cost reduction .
If
you can reduce the costs of your startup do it!
Even
facebook did it in the beginning they used cloud services to start
facebook .
Which
costed around $58 a month.
And
later on when they got enough income they decided that it was time to
get their own servers.
With
costs reduction you also reduce the risk of failing .
So
don't start to big but also not too little because if you start too
little it may influence your business growth and you may get less
growth then normall.
Easy
to use
Always
make your products ,software easy to use so easy that your grandma
can use it or your mom someone without technical knowledge .
So
that’s why usability is so important always in those useability
lessons they tell you to use a 3d lookalike button since it will
reduce the time of brains interruption.
But
it also needs to be very simple and effective a good example is
apple's one button concept.
They
use just one button on a lot of their products the iphone has one
button the imac mouse has one button and so one .
Its
so easy to use because it only has one button .
So
you can take that concept into your own business and make things a
lot more easier.
Always
improve
Always
improve your business be aware of why people don't want to buy your
software or product and well update it! .
When
I first began my first business people always told my that the design
wasn’t that beautiful. So with a lot of coffee and no sleep I began
designing everything all over again and again and again always
improve and my sales gone up by 33% .
So
its a very good way to improve by asking your customers what they
like and what they don't like .
Service
Service
has always been very important your business mostly will get into
problems soon or later. And you will need a very solid and kind
support team or yourself of course .
And
they might be your clients a lot longer.
Also
have a kind of manual for your employees and in that manual you can
write the rules of picking up the phone .
This
is an example of one
Be
kind and always answer polite
When
problems with products last option refund
Ask
what we can do better and write it down
Always
say thank you
Listing
to the costumer and never interrupt him or her
Self-service
When
having a self-service service be sure that your clients can access
everything they need when needed .
So
just like facebook they have a great help documents on their website
what you can access when you have trouble with facebook plugins
So
be sure you have something like that .
Revenue
streams
To
create multiple revenue streams you need fill the needs of your
clients in another way or represent your product as another
fulfilling product .
You
have the choice to create more products , software .
Just
like how google created more and more products such as online web
solutions and advertising options , office products .
They
created more and more revenue streams thru the way they made more and
more products.
You
can create extra services
Such
as some jeweler companies they offer more services on the internet
such as polishing , putting a extra color , and so on .
But
you can also create a revenue stream from the same client such as
subscription fees products like web hosting , domains , web builders
, office products , lesson videos such as lynda.com .
You
can also lend a tool to your clients such as cars tools etc.
Or
usage fees such as phone services and advertising services on those
services you will need to pay more on the amount you use the phone or
advertising .
Partnerships
When
partnerships are available you can reduce or improve your risks
depends on which business and the intention of those partnerships.
But
with partnerships you can achieve great product production .
If
you plan to start a software company that makes security software for
example .
You
can partner up with a browser company to include their browser on
your installment of your software and on every installment the
browser company will pay you a little bit of money. Or you can
partner up with a web hosting company or a software selling website
to include your product on their website and they will get a small
percentage.
Costs
so
remember that you have costs in your business put all of those costs
in order and keep them in watch have more income then your costs .
Especially in the beginning when you are making a website note that
you have server costs and domain costs .
Internet
Strategy
When
your business is on the internet you will need a internet strategy
what I did what multiple traffic streams from different sites I will
explain this in a bit .
This
is the “Black hole traffic ” why I call this the black hole
traffic is because we want to suck up every bit of traffic from a
very big radius .
So
for that we need to suck traffic from youtube , facebook , google ,
Bing , yahoo directories as many as possible .
So
we want to do something like this :
youtube
→ your website
Linkexchange
seo → your website
mobile
→ your website
Free
advertisements → your website
Google
& yahoo & bing and others → your website
Physical
advertisements → your website
Multiple
Versions of your website → your website
Internal
growth
So
now you have outer growth in your company but how do you have
internal growth?
Hiring
employees and finding more and more effective ways to work ?
Its
actually more then just hiring more employees.
You
can hire a thousand more employees and still have no internal growth.
So
you need to have effective ways to increase work flow and speed .
So
lets take an example if you have a printing business and people can
order business cars at your business you can increase your work flow
with a better and faster printer .
You
need to lower costs and improve profit depending on your business
model of course .
Employees
happiness
Which
business don't want this?
It
increases work flow , speed , culture
The
question is now how? How can we increase our employees happiness?
Well
that depends on which people you actually hired .
If
you have gamers employees be sure that when they have breaks they can
play games, another example is for those people with passion and
ideas give them the ability to use their talent . For example 20% of
their time they may work on something else than their usually work .
Google
uses this tactic and with that they made gmail , office products and
some others .
And
those products are very successful so its worth a try.
Company
culture
So
your company culture is very important its the core drive of your
company .
Your
business is like a space shuttle and your company culture is your
engine your income is your fuel and you are the captain .
You
need to constantly improve your engine and oh yeah your engine has
emotions .
So
you need to take care of it too! Do do that we need to fill it up
with fuel first .
Then
every time we say to the engine you have to run and to this task!
We
say thank you engine for doing this you are doing a great job!
And
we let the engine have some free time to rest because when a engine
is very hot it will overheat and if you want to overrun your engine
right because sometimes its necessary with very tight projects you
will need to install a inter-cooler in your engine so it wont get a
burnout .
So
this inter-cooler can be a new television on the hall in your company
or a catering or just something very simple as a new mouse for the
computer .
Financial
and business growth
To
increase your business growth we need to do one of the following .
We
can sell more of the products you already have or we can make new
products or lowering costs.
And
if you followed the news of very big companies then you see that they
choose the last choice at least many do .
And
like we know those are the companies that are doing bad!
They
are reducing their engine power on the time they really need it!
They
are reducing the things that they really need and the things they
don't need there they put in more money.
Have
you ever seen google or microsoft on the news of super firing
statements .
No
because their employees are earning money for them they make ideas
create new dreams and make more and more possible .
They
don't reduce their engine power even when there are harder times they
don't.
They
can reduce it a bit but not a lot of it and then invest millions in
advertising while everybody knows that they exist but when a customer
calls support they don't answer kindly . So they lose and win
costumers at the same time!
Its
crazy so be sure to think very good about your company and think
about costs but employee cuts must be considered the last option.
Competition
competition
is deadly !
Be
sure to take an eye on them not every step but enough to know what to
do when they take a action.
Business
And investors
This
is something you really need to be deciding yourself .
But
be aware that most investors are selfish .
And
they don't really care about your business they care about the money
they can get out of the deals .
So
they can make or break your business too they can give you an angel
investment but be sure that you have the upper hand be sure that you
can hold your company .
Don't
let them fire you from your business! If you give them too much power
they can fire you from your own business that is what happened to
Steve jobs in apple in the early days.
So
be sure to handle right too be sure to get the maximum out of the
deal because your company is worth of what you think its worth. When
microsoft wanted to buy facebook what did facebook told microsoft?
Well they told them that the company is a lot more worth. And
microsoft bought a 1.6 % in 240 million dollar range . So they bought
a very little part for so much money.
