This recession has taught us to spend money wisely. As an entrepreneur you need to make sure you are spending money on necessity items for your business. Do not overextend yourself because positive cash flow is the life line of your business success.
Marketing Research is very important in developing your strategic plan
Building a solid plan is very important to your business success. In order to conduct a proper plan you will need to conduct market research. This marketing research should include identifying your competition, market trends and a SWOT (Strengthens, Weaknesses, Opportunities and Threats) analysis.
Make sure your website has some type of “call to action”
You spent a lot of time and dedication to building a great website. Unfortunately, building the website and leaving it there is not enough. You need to make sure you are capturing contact emails or other contact information from you visitors. You can do this by offering a free download, asking to join your newsletter or anything else that would prompt your visitors to sign up for more.
We are experiencing information overload. If you are not careful you will feed your brain negative information throughout the day. Every time you turn on the news it is more negative information and if you try to avoid it someone on your FaceBook timeline is sharing the information. As entrepreneurs you need to make sure you take the time to feed yourself positive information daily.
I recite positive affirmations daily to keep myself grounded. You could create a “happy” song playlist or take a 15 minute break to read something you enjoy. Whatever it is you need to make sure you are feeding your brain positive energy everyday to stay balanced for yourself and your business.
You do not need a fancy office, the newest iPad or to take your clients to five star restaurants for lunch every day. You are a startup so act like a start up. Startup capital is limited and is the bloodline of your business. You need to maintain low overhead and learn to barter for additional business services you may need. Start thinking like a frugal entrepreneur and keep track of your expenses.