Tag Archives: business owners

5 Sales Mistakes to Avoid | Business News Daily

Every small business owner knows the challenges and importance of closing a sale.

Despite those challenges, there are a number of steps business owners can take to improve their chances of closing a sale, said Brandon Stuerke, president of Advisors Edge Marketing. To help, Stuerke offers solutions to five common sales-lead mistakes.

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4 Reasons to be Ready to Sell Your Online Business Right Now | BusinessTips.com

imagesHaving an online business is great. Not only are you your own boss and can dictate your own hours, but you can also sit in casual clothes at the computer during conference calls and filling orders. But even if your business is going smoothly, and the profits are rolling in, it is still absolutely essential that you prepare the business for sale. Even if you have no absolutely no intention of selling.

Confused? Read on and you won’t be.

In the excitement of running a new business and watching it succeed beyond your wildest expectations, selling the company is probably the last thing on your mind. But the fact is, most business owners eventually end up selling to an investor or an individual at some point in time, and usually when they aren’t expecting to do so. You may be lucky enough for someone to come to you with an acquisition offer, but more likely than not, you will be looking for a buyer, not the other way around.

So in preparation for that day possibly coming, it is essential to have an exit strategy ready, so you can sell quickly and easily, and move on to your next business idea. Even if you vow never to sell your business, it is still good to perform an exit strategy exercise on a regular basis. Here’s why:

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Fatburger: How One Burger Chain Profits From Turmoil Abroad | Businessweek

Political protests, disease outbreaks, terrorist campaigns—U.S. business owners considering expanding internationally would be forgiven for deciding to stay at home. But name a tumultuous spot abroad—Hong Kong, Iraq, Egypt—and Andy Wiederhorn has probably opened a burger shop there in the past seven years.

Wiederhorn has taken his Los Angeles-based franchise, Fatburger, from a struggling also-ran to a $125 million company by opening in 32 countries since 2007. He has 200 international locations now and an additional 350 in development, including in places rocked by unrest, such as Tunisia and Libya. Despite the advances of Islamic State, a second store in Iraq is also in the works.

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10 Steps to Learning Your Customers’ Behaviors | Inc.com

getty_200464106-001_43942In many endeavors, let alone product development, there’s a gap between knowing what’s best and actually doing it.

Gaining behavioral insights about your potential customers usually falls into one of these gaps. The reason? It can be awkward and exceedingly time-consuming observing and recording the behavior of people you’ve never met as they use or struggle to use your product.

“A conversation with a stranger can be a little, well, strange,” writes Jon Kolko, Vice President of Consumer Design at Blackboard and the Founder and Director of Austin Center for Design, in his new book.

But founders, even shy ones, should take heart. For one thing, there are ways to overcome the social challenge of ethnographic research. For another, the insights you’ll gain about your customers’ behaviors will drastically supercede anything you’d learn from focus groups or online surveys.

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Smartlation Smart Translation Services | Cool Business Ideas

Using a patent-pending algorithm that analyses translator data from a vast pool of registered translators, Smartlation promises to give users the freedom to select the translation services that best meet their requirements and budget.

What does this mean for users? Let’s say you need a legal document translated from English into Farsi and Portuguese. Smartlation lets you specify not only languages but also specific areas of expertise so you find translators who are experienced and knowledgeable. The platform also makes the procedure simple by managing both jobs i.e. Farsi and Portuguese in one place. Transactions also go through the platform simplifying the payment process.

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Deadline or Alive Entrepreneurfail | Getentrepreneurial.com

Ravaging through the rough, grunting and seeking out the next victim….Scavenging anyone and anything that comes in the way…

No, we aren’t describing the latest wildlife channel special about predatory beasts in the jungle.  We are referring to the angry, stressed, tense new entrepreneurs on a tight deadline.  At this stage in the startup journey, fresh-faced founders may get a little anxious, as the viability of their new startups is dependent on each deadline.  Sure, you could argue that it is just the passion coming through, but this attitude could cost a new entrepreneur his/her business.

If your actions are making your employees cower in fear of being the next stop in your slaughter trail, these are a few pointers to help you:

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How Entrepreneurs Can Manage Their Personal Finances | Allbusiness.com

Compared to other workers, entrepreneurs tend to enjoy an advantage in financial literacy. The know-how required to invest, organize, and save funds for a business often applies well to personal finance management, so these individuals run a “tighter ship” at home.

But this isn’t always the case. Business owners can lose their way financially by going to one of two extremes: Tying their personal finances too closely to their business resources, or running their personal finances quite differently from how they manage company money.

An unbalanced approach in either direction can lead to financial difficulties in the form of squeezed budgets and damaged credit. On the other hand, entrepreneurs who can strike a middle ground between these extremes enjoy greater financial security and success in their business and personal lives.

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