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Better tips to create business

As a small business, you may think it's impossible to get the word out about what you do. That's no excuse. And you don't need fads or gimmicks. Follow the proven, timeless tips and techniques of these entrepreneurs to help get the word out about your business and watch it grow.

If you want to stay in relationship with your customers, there is nothing simpler than creating a weekly e-mail that provides something of value. Rick Houcek of Soar With Eagles sends one out every Monday that he calls the 2-Minute Monday Motivator. I look forward to getting it every week and often forward his advice to others.

How to Make Accurate Sales Projections in a New Business

Being able to accurately predict what your sales will be is important for determining when your business will be profitable and if it will need startup funding. But projecting sales without any historical data to go on is difficult. Here's what you need to do to figure it out.

You’re probably starting a business because you have a desire to do something you love. You probably want to help others, and stand out from the competitors in your space. But you want to make money too. One of the early and most important questions you might ask is how much will you make out of the gate. After 90 days, six months, and one year, what will your sales look like and how will that translate to profit?

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The Importance of Teamwork to Business Change

You’ve heard that two is better than one; a cord of three can’t be broken; there’s no “I” in “team.” A team working together well is a beautiful thing. Here are a few of the best aspects of teamwork:

Teams accomplish more than individuals.

Someone reading this is rolling their eyes right now and saying, “I can do so much more when I don’t have to work with others.” But although an individual may be able to get a lot of work done, it is quite unrealistic to expect a single person to know enough and have enough time to get everything done.

Teamwork helps to retain the best people.

Effective teams do more than just get the work done. Think about a time in your career when you were incredibly energized to come to work in the morning and felt you were really delivering results. You were probably surrounded by some high-performing people you could rely on to help get the job done.

Teams contribute to the whole organization’s success.

A team can only be fully understood in terms of its relation to the other parts of the organization. The interrelatedness of teams is important because it contributes to the overall functioning of the organization.

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Know when to call it quits

Contrary to popular belief, a smart captain does not go down with the ship. Don't go on a fool's errand for the sake of ego. Know when it's time to walk away. If your idea doesn't pan out, reflect on what went wrong and the mistakes that were made. Assess what you would have done differently. Determine how you will utilize these hard-learned lessons to better yourself and your future entrepreneurial endeavors. Failure is inevitable, but a true entrepreneur will prevail over adversity.

Act like a startup

Forget about fancy offices, fast cars and fat expense accounts. Your wallet is your company's life-blood. Practice and perfect the art of being frugal. Watch every dollar and triple-check every expense. Maintain a low overhead and manage your cash flow effectively.

Learn to say "yes" and "no" a lot.

The two most important words business owners and founders have at their disposal are “yes” and “no.” Learn to say them a lot. And that means being decisive. The most important reason to focus – to be clear on what your company does – is to be clear on all the things it doesn’t do.

Listen to your customers

It boggles my mind how little most entrepreneurs value their customers when, not only are their feedback and input among the most critical information they will ever learn, but their repeat business is the easiest business to get.

This phrase is often repeated but rarely understood. It means that your own instincts are an extremely valuable decision-making tool. Too often we end up saying in retrospect and with regret, “Damn, I knew that was a bad idea.” But the key is to know how to access your instincts. Just sit, be quiet, and listen to yourself.

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Get Organized

To be successful in business you need to be organized. Organization will help you complete tasks and stay on top of things to be done.

Keep Detailed Records

All successful businesses keep detailed records. By keeping detailed records, you'll know where the business stands financially and what potential challenges you could be facing.

Analyze Your Competition

Competition breeds the best results. To be successful, you can't be afraid to study and learn from your competitors. After all, they may be doing something right that you can implement in your business to make more money.

Understand the Risks and Rewards

The key to being successful is taking calculated risks to help your business grow. A good question to ask is "What's the downside?" If you can answer this question, then you know what the worst-case scenario is. This knowledge will allow you to take the kinds of calculated risks that can generate tremendous rewards for your business.

How to Make Accurate Sales Projections in a New Business

Being able to accurately predict what your sales will be is important for determining when your business will be profitable and if it will need startup funding. But projecting sales without any historical data to go on is difficult. Here's what you need to do to figure it out.

You’re probably starting a business because you have a desire to do something you love. You probably want to help others, and stand out from the competitors in your space. But you want to make money too. One of the early and most important questions you might ask is how much will you make out of the gate. After 90 days, six months, and one year, what will your sales look like and how will that translate to profit?

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