Blog – Page 2 – 180mindset

Types of Organic Growth

August 13, 2020 by Reynante Comment Closed

Leveraging strengths. Every business has products, services and revenue streams that are better than others for its bottom line. Management accounting can provide you with detailed information about how much each of your offerings costs relative to the return it provides. With this data in hand, you can focus on investing in your most profitable endeavors and scaling back or completely eliminating those that provide less of a return. This process allows you to grow organically, building on the business model and infrastructure you already have. Introducing new products. You can also grow your business organically by introducing new offerings. Although new product development can be expensive, it is still usually more affordable to do the work and create the systems internally than to invest in a product that another business has already developed. Products that you develop and introduce yourself are also more likely to keep with your strengths and your brand, helping to build your company across the board. Continuous improvement. Whatever your...

Personal Issues at Play

July 13, 2020 by Reynante Comment Closed

Being your own boss is the dream of most entrepreneurs, but it comes with a price. The freedom of not having to answer to someone else becomes the obligation of having to answer to the needs of the business. In this sense, the business is the new boss. Work-life balance: Starting a business will consume a lot of time, energy and commitment. Not letting the business prevent you from having personal time is a challenge. An entrepreneur needs to set aside time in the workweek to spend time outside the business and stick to it. The failure to deliberately manage a work-life balance can lead to burnout, health problems and lost relationships with family and friends. Where to start: Starting a business requires a seemingly endless list of things to do; it can be overwhelming and lead to paralysis and inaction. The best approach is to organize the tasks, pick one and get started. Managing growth: After making the first sale, the next challenge is to manage...

The Right People

July 6, 2020 by Reynante Comment Closed

Recruiting: Business owners can not do everything themselves and will eventually need to hire employees. Bringing on people with specific skills and paying them enough without breaking the budget is a challenge. One solution could be to hire part-timers or freelancers until the business builds up its cash flow. In the beginning, owners feel they can handle everything themselves. While the ability to multitask with many skills is admirable, the execution may be lacking. A smooth start needs people who are well-trained and skilled to shoulder the responsibilities. An owner trying to do everything can create issues for the business with slow responses to customers and poor execution of normal business activities. Employee retention: With unemployment rates at historic lows, recruiting qualified employees is difficult, but retaining them can be even more challenging. A company has to offer competitive benefits and make sure that employees are satisfied and productive with their jobs. Happy employees need recognition, days off and the belief that they will also...

Starting a Business Is not Easy

June 30, 2020 by Reynante Comment Closed

If you ask entrepreneurs what problems they faced when starting a business, the answers will usually be the same: money, employees and personal issues. All businesses need enough equity capital to survive startup and growth with sufficient cash flow coming in to pay the bills. Employees will consume a large portion of that cash flow, but they are part of the growth of a business. In the meantime, the owner has to maintain enough self-confidence to persevere through the negativity and huge challenges and not lose the belief that the business will undoubtedly succeed. So, what is the first thing to do when starting a business? No simple answer exists for this question. An aspiring entrepreneur must address all of these challenges at the same time. However, being able to successfully handle all of these problems is the gratification for starting the business in the first place. ...

Choose a Good eBay User ID for Selling

June 19, 2020June 19, 2020 by Reynante Comment Closed

The biggest obstacle to becoming successful as an eBay seller is branding. You do have the advantage of operating under the eBay brand, which is substantial — but your ultimate goal should not be to have your customers say, "I bought it off of eBay." Your goal should be to have your customers recognize and appreciate your own brand. When considering eBay username ideas, remember that eBay is just a selling tool, so do not make the mistake of relying too heavily on eBay for driving your sales. Importance of eBay Seller Names You are starting a business of your own — you are not eBay. The most important part of that process is establishing your own brand and your own identity, and so your company name — reflected in your eBay user ID — is going to set the tone for your future success. Choose an Actual Company Name The best eBay sellers do not limit themselves to selling on eBay exclusively. You...