What to consider when you start a business?

Obviously starting a business is a serious decision that must be considered carefully. Think over your qualities and strong sides of your character you possess, this way you will be sure what may seem easier for you. Here are some points you have to consider before building up a business.

There is always something to consider
There is always something to consider

Are you ready?

It is often said that people start business to become entrepreneurs in order to change their routine work graphic when they have to fulfill a nine-to-five day at their working places. However this only can be a result of a successful business that lies in hard work.

Some people think that businessmen have a lot of time that they can dedicate to themselves. Still, if you decide to take up your own business, be ready that it is going to require most of your time.

Are you sure that you want to risk? Statistics are always quite merciless, according to latest live business news 80 % of all business are likely to fail.

Think over everything involved in your start-up, you are sure to overcome a plenty of failures on your way. All that will take you to spend hours to cope with them.

 

What makes your idea worth a try?

Not all of successful ideas are unique, e.g. Facebook. But it must be competitive among others. A business idea is the one on which people will spend money. No matter how ridiculous your idea may seem, it is worth a try if there are potential customers. If you product has or is likely to arise an interest among certain auditory, this makes the idea great.

Do you have a plan?

To reach success and materialize an idea you have to plan everything carefully. Only this way you can make it happen. You have to introduce business to audience as something revolutionary. To become competitive you have to make a unique selling point. Besides this try to identify problems you may face in future and prevent them.

Make a business plan. There is always something left to consider and there are always questions you need to answer. That is why it is important to create a strategy using which you will reach your goals.

Can you afford it?

Building a business nowadays has become relatively affordable with tools and software that help automate operational tasks. But these are just part of the many other things that will comprise your startup costs. Employee salaries, infrastructure maintenance, and other services can pile up if you do not plan for them properly.

What are you to do in case you face unpredictable problems? A good thing to do is to find investors who can provide you with financial basis. To get them to help you will need to introduce your designed plan. It has t convince investors that your project is worth it by describing and explaining what you have got in your mind.

After you have answered all these questions you will understand better what you are capable of building and improving in order to keep your business alive. You are certainly going to face more questions on your way. However those we have listed are intended to guide you in the very start of your way.

How to deal with complaints

 

Maintaining reputation in the times of small business info can be either hard or easy. An overwhelming social media made everything more simple: you have no difficulty moving your business ahead by sharing your offerings and other ads. At the same time any customer can leave their opinion on every single thing. The information that floods social networks can both improve and ruin your reputation.

Letters of complaint can do a lot of harm to your business.
Letters of complaint can do a lot of harm to your business.

Only 20 years ago the only sources of advertisement used to be posters, newspapers and magazines, TV and other means of mass media. In case a customer had something to complaint about, he turned to a manager. The letters of complaint would rarely become public. Today it is different. As mentioned by forbes companies, the way of serving customers has changed. Nowadays a client can say anything by tweeting, making a status or doing a blog.
If you got a negative review, no matter if it was true or not, something must be done. If you pay no attention to it, it won’t do any good to your company. We listed some recommendations that my help you out.

Get positive reviews

It is a good idea to have a plan how to prevent negative reviews. In the first stages of making a business you should focus on it. This is essential for small business, when your business has not expanded yet. For bigger companies a few bad reviews won’t be disastrous as they already have a strong reputation. They already have a great number of reviews, so destroying their image is not so easy.
When you have just started a business, getting complaints are unaffordable for you. However you cannot be liked by everyone, so one day you will probably read a letter of complaint dedicated to your service.

Don’t get upset and try to solve the situation

Assure your customer that he is wrong and that everything can be solved in a peaceful way. Try to find a compromise, offer a discount, free product or give money back. No matter how hard you try, no matter how right you are, you will never win an argument with a unsatisfied client.

Don’t join a debate

If your customer has already posted a review, do not try to reassure them online. It will only ruin your reputation, as other people are likely to take a side of an upset client. Instead of reassuring, just apologize for having delivered some troubles once. After that send a private massage to a client to solve the problem.

Make short answers

The best response is a short, private and polite letter. It must recognize what has been wrong and give a solution. If your customer is already open to a calm conversation, you may ask them to remove a complaint. Assure the client that you want everyone to see that you are able to meet the letters of complaint and you want to reach a positive conclusion.

If the client disagrees to seek compromise and you have no choice left, you may return online and upload your answer that will contain you vision of situation. In this way you will look as a professional who concerns about their business.

How to save your health while working

Our office workers spend their days mostly in front of computers. Is it worth mentioning that our lifestyle reflects our health? How does your lifestyle affect your health?
Your metabolism is not that good as it used to be, and your backbone aches. You get tired very easily, and the fatigue chases you during a whole day from the very morning.
No wonder why it happens. You spend you work week onto your desk, in a car, on a couch day after day. All this activities do not make you healthier or stronger. As a result, you feel like you are dying. The only thing that may help you is changing your habits.

If you have a sitting job you are likely to have certain health problems
If you have a sitting job you are likely to have certain health problems

Move more

No matter how busy you may be, it is necessary to do some breaks at least for 5 minutes in every hour. Your heart and blood vessels will say “thank you” if you get up and do some easy exercises or just walk around every hour. In addition it will help your brain concentrate more on your task.

Don’t skip your doctor’s appointments

Sometimes we dive into hard work so much that we forget to visit a doctor when it is necessary putting it off for a next week. It is a mistake. Unless you visit your doctor in a good time you may skip a moment when you need help.

Healthy diet

What you eat has a greater effect on our health than anything else. Right diet that includes necessary vitamins and nutrition will help you feel more energetic, healthier and complete more tasks during the day doing more business. Cut down in consuming sweets and fatty food, not only they bring problems with metabolism, they make you feel fatigue and do not fill you with much energy.

How to reduce harm of your sitting job?

Keep your back straight. Wrong posture not only makes you suffer from such problems with backbone as scoliosis, it also slows down normal work of your body.
• Keep your feet on the floor. It will help you to keep a posture.
• Do some brakes. Get up every 30-60 minutes to walk around.
• Walk more. Use elevator less. Start walking at least for short distances instead of taking a taxi.
• Add more activities to your routing. Take up swimming or yoga classes, start running. The researchers say that people who work outdoors get less tired than indoors ones.
• 40-minute walking after work will help to improve your muscles and blood vessels’ functioning.
• Use bicycle. This form of transport is much more environmentally-friendly and cheaper than cars. Moreover, it is a great exercise for your body.
• Forget about TV. Choose only active pastime. Go skating, skiing, playing volleyball, tennis, hiking – all that will improve your physical and emotional health.

 

 

How to revive your restaurant business

 

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Restaurant is a kind of business that cannot exist without having a unique atmosphere

An outstanding interior of your restaurant is not enough to make your client return to you again and again. To keep loyalty of you customers you need to build a successful business. If your restaurant does not bring the income you expect, it is time you reconsidered some aspects of your business. There are some tricks that might help you maintain your business success.

Attract new people

The more people know about your restaurant, the more they are likely to visit you. Use e-mail and social networks to let your potential clients know what you can offer. Add to your advertisement eye-catching menu that will encourage people to try your food. Use posters near your restaurant that will reflect all the new offerings, changes and discounts at your place. Turn for help to professionals who may help you attract more customers.

System of rewards

This is a tactic that never gets old. The system of discounts, various points and free presents is sure to help you to attract attention of your clients and make them show up in your restaurant again. The psychological trick used for that is quite simple: people easily get all excited with a game where they can get something cheaper or even for free. Try to imagine something unordinary that will catch an eye of your potential clients. It may be organized games or other free gifts systems that work well.

Customer service

No need to explain that customer service is a visit card of a restaurant as well as the menu and food quality. Try to analyze your service. What needs improvement? Have you ever received any complaints on your workers? What can be done about it? If your clients decide that the service in your restaurant leaves much to be desired, the chances they will return are very slight.
Make sure you have got enough staff in your restaurant and that it is equipped with all the necessary appliances that will make work of your employees more effective.

Adding alcohol to your menu

If your restaurant does not offer any alcohol spirits, it may be time to reconsider. Many restaurants find alcohol a significant part of their income that covers a lot of excuses. The thing is that the alcohol drinks often become an essential part of any kind of celebration. That is why if you expect to make more money by arranging festive banquets in your restaurant, adding alcohol to menu is necessary.
The common problem restaurant owners usually face is that alcohol licenses sometimes are too costly. In this situation it is advised to buy a beer or wine license as they are the cheapest and can satisfy the majority of alcohol lovers.

Do not write a novel

It is not a good idea to make your clients read an endless list of dishes you can offer them. The customers might get confused if a menu you give them is too wide. If you have a lot to offer, focus on the main features of you restaurant.

You are unique

Restaurant is among businesses that attract more attention if they possess something special. Decide what makes your restaurant differ from other places. It is easy if you promote some ethnical cuisine – all you have to do is to keep an atmosphere of tradition at your restaurant. If not, try to make something that has not been made in your neighborhood yet. For example, organize lunches for employees of the nearest businesses. Long story short, try to make a repute of a place that appeals to wide masses without forgetting about your uniqueness.

How a business process is created

For companies business process is a tool used for reaching goals. You can also define it as a number of actions used for making value for customers. Analyzing business process is important to understand how exactly the process works. The analysis is used by managers to decide whether or not there must be any changes to better the work. After the improvement the process will help you save money and time and direct your attention to creation of a more up-to-date product.

The definition

The business process is a day-to-day activity performed by employees to reach the company’s goal. In order to consider how a business process is analyzed, it is necessary to understand how it is created.

  • Understand how much work you need to complete. Imagine that you update the process to inform your clients using invoices. The amount of work depends on how broad your task is.
  • Decide on your outcome. Think what goals you want to achieve while the process. After shipping the order send a copy of the invoice to your clients. Use e-mail for informing your clients in the end of each task.
  • Maintain documentation of business process. You can document it as a range of steps you can also use graphs and diagrams for this.
  • Put down on paper not only the steps to follow in casual working process but also exceptions to every situation.

Analisis

  • Discuss the process with your staff. It is a good idea to ask other members of your team what they think can help improve your business.
  • Know everything about your inputs and outputs. In clothes manufacturing, for instance, you have to learn who your denim supplier is and how often the shipping happens.
  • Learn about the tasks; outputs and who receives them. Maintain the documentation of what work your staff performs.
  • Don’t hesitate to ask for suggestions how the process inefficiencies can be resolved.
    All successful businesses are renowned for an ability to analyze the business process for inefficiency signs. Any business process includes inputs and outputs. Such things as labor, material and equipment, are the inputs. i.g. what you use to produce a profit. An output is a product or a service.
  • Your process is supposed to turn inputs into outputs. If it takes long time to complete work it means that something is wrong with our process.
  • If the cost of your inputs is much higher than your budget, it is one more signal that something must be improved.
  • Identify what general problems you have and which processes should be improved. If you need to choose between a lot of other processes, take the one that has the biggest effect on the business.
Why companies participate in International Business

After the world economic globalization happened, the number of companies that expand into others has increased. Even though the idea of international business is not new and existed since XVII century the top of the international expansion was after the Two World Wars. What are the reasons of companies’ participating in International Business and what profits it may bring?

Expanding sales

The main explanation why this happens lies in company leaders’ striving to expanding the sales and acquiring other parts of financial market to spread their influence on them. Taking into account that developing countries differ from developed ones in the way that the consumers look up to the western lifestyle and the western companies use it as a chance for expanding their sales. Besides when the sales drop in one region, there are more possibilities tomake up for it in the other regions.

New resources

One of the most significant reasons for international expanding is that both developing and emerging countries are rich with minerals, metals and opportunities for the agriculture. These countries catch the eyes of western multinationals who would like to get an access to the resources. That is why a lot of international businesses settled in Africa and South Asia which are profitable for the western business of finance for their large deposits of minerals. A plenty of emerging markets lack he expertise and the resources for making a use of the resources. Thus welcoming the western companies gives them opportunities for growing the economies.

Due to the liberalization of many developing countries and their opening up the economies, nowadays is considered the best time for international business. It is caused by the economic crisis that brought about a great damage to the world economy.

Minimizing risks

Owing to the fact that companies are meant to be profitable it is understandable that they expand into the countries that can bring them more profits then their own country. As a matter of fact there are many political, economic and other risks that may occur. They may be different according to countries, and there is point dividing all the risks between all the countries where the company operates than face all them only in one.

Top business news web sites

Inc. com. It is the web site of a popular business magazine focused on starting and developing the business. The site concentrates on business in the news providing yearly lists of the most growing companies.

Bizjournals.The site is among best business news websitesfor its uploading the best business news from around the nation in 140 characters or less. American City Business Journalscover a range of different topics published in mass media.

 

The Business journals business news
The Business journals business news

Bloomberg.com. Bloomberg’s articles on business finance are the leading providers of information for professional participants of financial market. It provides an access to the current and historic stocks.

Bloomberg Business news
Bloomberg Business news

Kiplinger.com. The web site highlights all the aspects of business and finance that refer to our life. Credit and debts, insurance and investing, all those things are described in business and marketing articlesand provided with quizzes uploaded in the certain sections.

Kiplinger. com. business news
Kiplinger. com. business news

Barrons.com.The financial magazine is famous for its market-moving business stories. It provides information about financial events and all what you need to know about stocks and investing.

Barrons. com. business news
Barrons. com. business news

BusinessEconomics.com. Get to knowcurrent economy news with BusinessEconomics.com. The website is a link base of different sites sorted out in sections that include educational centers, financial markets, blogs and offices that might come in handy.

Business Economics. com web site news
Business Economics. com web site news
Top 10 business magazines

Visiting internet business newsat least once a day may become a good habit. In fact awareness of what is going on in the business world only adds up to your professionalism. What top new businesses are the most profitable? Or how is the stock markettoday? Subscribe to this top business websites of magazines be in the know of world business.

Forbes. As the most world famous source of current events for business it is highly respected by professionals mostly for its business and finance articles.Forbes writes not only about businessmarketingnewsarticlesbut also the stories about success and failures of entrepreneurs,analyses why this happened and the ways of prevention. The magazine often gives lists of new business ideas and stocks, publishes rates and graphs. Forbes is also famous for doing researchers that refer to different spheres of economy, e.g. stock market researchorpopular new businesses. Forbes has an access to company leaders and receives information from authoritative sources.

Bloomberg Businessweek. This magazine gives up-to-date business financial informationoffering best business news, global market newsanddaily financial report. The magazine publishes rates of MBA business schools and simple business programs rates.

Bloomberg Businessweek magazine
Bloomberg Businessweek magazine

Wired. The magazine is intended to share how technology influences other spheres of life, such as culture, economy and politics. The information given there ranges from cultural events to business and finance articles. No matter if you are a technology geek or a businessman, you will definitely find there something for yourself.

Wired technology magazine
Wired technology magazine

Entrepreneur.The magazine is mostly focused on small businesses and represents itself as a guide for beginners in the business world. It gives recommendations for starting a business and moving it ahead.

Entrepreneur business magazine
Entrepreneur business magazine

Fortune. It is a highly-respected magazine for covering various aspects of economics and business in the business finance articles.It is famous for its yearly rates of companies.

Fortune business magazine
Fortune business magazine

INC. The magazine is concentrated on business improvement that is why it publishes useful advice meant for helping entrepreneurs run their businesses.It also focuses on companies in the news by publishing yearly rates of the most successful enterprises.

Inc. financial business magazine
Inc. financial business magazine

The Economist. Traditionally it refers itself to a newspaper; in fact it specializes on news in businesses. TheEconomist claims to be an economically liberal magazine .Its audience are highly educated readers among whom you can find influential heads of either global and smaller companies.

The economist magazine
The economist magazine

Consumer reports. The magazine is for you if you do not prefer buying pig in a poke without knowing its reports. The magazine contains articles of consumers that are helpful while choosing the product.

Consumer Reports magazine
Consumer Reports magazine

Adweek. One of the best business news websitesand magazines that offers the latest and the most original marketing trends. Reading Adweek is a must for those who want to be aware of how to create an eye-catching advertisement.

Adweek marketing magazine
Adweek marketing magazine

Fast company. The magazine is proud ofits covering the best strategies of achieving success and running the business.

Fast company financial magazine
Fast company financial magazine
Top business news websites

Business news websites are a special kind of news resources that publish news connected with a world of business and economy.Here is the list of top business news websites which are worth visiting.

Yahoo! News

Initially Yahoo! News used other world news services for getting information such as USA Today, CNN, BBC, etc. However by the year 2011 they decided to focus on an original content to become one more major news source.Today Yahoo publishes its own new business articles, whichallows Yahoo! News to head the top lists.

Google news

Top business news websites

Google news is a standard news aggregator which selects current news from a number of different business article websites. It chooses reports from more than 4000 worldwide sources and is available in 35 languages in the versions for more than 60 regions.

The Huffington Post

Top business news websites

HuffPo is a liberal news aggregator that publishes current events business, news of politics, culture, and social life. The source also contains original content which topics on environment, life style, technology and other popular spheres of life. In addition users have an opportunity to blog there, though some of the blogs have a tendency of becoming a cause of strikes against The Huffington Post.

CNN

Top business news websites

The Cable News Network is a basic 24-hour satellite television channel. In 1995 CNN. Com was launched, and now it is among best business news websites in the world.

New York Times

Top business news websites

NYT is one of the oldest national newspapers in USA founded in 1851. It has the largest circulation after Walls Street Journal. All the topics are divided into the sections:News, New York, Sports of The Times, Arts, Science, Home, etc.

Fox News

Top business news websites

FNC is a basic satellite channel operated by Fox Entertainment Group, one of the dominant cable news channels. The channel is claimed to introduce the news operating own opinion.

Top business web sites

Why do we need business sites? The answer is obvious; people who take an interest in the business world always find themselves in a constant search of different web resources which will help them to learn about current events in the business world, business and finance news, some general information on businesses. These sites also provide us with ideas and projects that might help either any newly-built businesses or even advanced entrepreneurs. Here is the list of the most popular web sites that users of the World Wide Web find the most effective.
Yahoo! Finance. One of the main providers of the financial information in USA, and the first of the best business information websites with a number of visitors 75,000,000, according to the results of the year 2016. It provides news on world economy and reference information on the topics of business, finance and economy. Yahoo! Finance contains thematic forums and discussion groups, and in addition includes a number of services for controlling personal finance information.

Forbes. Forbes is a famous business and finance magazine whose web site has 65,000,000 visitors a year. It presents to the readers the stories of famous successful projects and revolutionary ideas, business stories, current market news, business and finance news. Forbes made itself a name by doing researches on the business world and giving an estimate to not only current events for business, but also to different global situations, answering questions ‘how’ and ‘why’ this or that happened.

Images with Forbes
Images with Forbes

MSN MoneyCentral. It is a web portal which provides global marketing news, articles on business finance and other topics. The number of visitors per year – 60,000,000, only a bit less than Forbes’ record.

Top business web sites

CNN Money. CNN Money is a business website run by a TV channel CNN which is high on the list of the news networks.It has the auditory of 58,000,000 visitors.

Top business web sites

WSJ. 42,000,000 visitors. The Wall Street Journal is a daily business magazine published in New York by Dow Jones & Company since 1889. It is one of the biggest authorative printed editions in USA. It covers global market news, articles for business, economic business articles, and also political, cultural and analytical articles.

Wall street journal

Google finance. 40.000.000 visitors. The portal provides an access to the financial information about a majority of trance international companies. It also provides a number of services for running personal finance information.

Top business web sites