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Aug 02
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Developing That Winning Mindset

By Blogpost

Running a business is no walk in the park. You have to be constantly alert and informed about your market. You have to be aware of your competitor’s strategies and come up with your own strategies to keep up with them or to stay ahead. You also need to check up on your staff. As the business owner and in turn the leader, it is your responsibility to make sure that your team is doing well. Not just in terms of completing their daily tasks but to also make sure they are still happy to be part of the team and enjoying what they do. High morale and good relationship encourages employees to work at higher efficiency levels.

Keeping tabs of everything that is going on in your business can certainly be stressful. You need to have the focus and the right mindset to successfully lead your company to its goal.

Successful leaders have the ability to inspire and convince the people around them. When they talk, people listen. Not just employees- this applies to business partners and investors too. Do you know why that is? That is because not only do they have the knowledge, experience and vision, but most importantly – they have the right attitude and it shows.

How does one become a successful leader? It certainly does not happen overnight, but you can start with changing your mindset.

Challenge Yourself

The only way to learn is to fail. Never be afraid of failing. Put yourself into challenging situations. You might fail but you will definitely learn something new. If you are able to overcome that challenge, then it will boost your confidence. You might lose some but if you look at the bigger picture, it is a win-win scenario. The idea is to foster personal growth which can benefit your business and personal life.

Value Yourself

Do not undersell yourself. Place a value on yourself and have a clear intention to make a profit. Ask yourself why you got into business in the first place. Did you do it just for fun or to make money? The answer should be both. You have to love what you are doing but you should also remind yourself that this is still a business and should be generating a profit. Love what you are doing and make money doing it.

Cherish Your Achievements

Focus on the future but do not forget the past. It is a great idea to keep a collection of your achievements and milestones. It does not matter if it is a business achievement or a personal one. This will help remind you that you can overcome any challenge. Sometimes with all the stress that we are subjected to, we sometimes forget that we have the capacity to be great. When the stress becomes too much, look back at your achievements and get that boost of confidence to keep on charging forward.

Jul 30
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When To Let Go Of A Goal

By Blogpost

Remember the time when you had a brilliant idea for a project? Remember the excitement, planning, thinking of all the possibilities and the challenges and looking forward to meeting all of them head-on? You get to work immediately to come up with an action plan. You gather your handpicked team members and brainstorm different strategies and tactics to help you accomplish that new goal. And then you implement it and wait for the results.

Anyone who is well acquainted with planning knows that things do not always go according to plans. Whether it’s small hiccups or big hurdles, do not expect everything to be perfect. This is why having contingency plans at the ready is an essential part in planning and execution. Keep your eye on the prize, and be prepared to overcome any obstacle that gets in your way.

Reevaluate Your Goals

What if, in trying to reach a certain goal, you experience small successes along the way but you are still not getting the desired results? Do you keep at it and keep investing more resources? If every time you take a step forward, you are pushed back two steps, then you need to ask yourself – what am I doing wrong? What did not work, and what can I do to make it work? And then get right back out there with your new strategy. But sometimes, when you have been at it long enough and you’re not seeing any progress, it could be time to reevaluate your goals.

Failures are normal when setting out to achieve something. Failing is just another word for learning. But whatever your goals are, you have to invest time and resources in order to achieve it. Both are precious and limited. It is always encouraged to keep working on your goals and never give up – but there are some instances when letting go is a more viable option.

If It Takes Away Too Much Of Your Resources

If the goal is causing more conflicts and problems in your life, then it might be time to let it go. You might be sacrificing more than what you will eventually get out of it. This is why it is important to evaluate your progress at various points during your journey. If you are forced to expend more resources than you are willing to, or can afford, then it’s time to let it go. And I do not just mean financial resources – it could be physical assets, manpower or your time and focus, which could be spent on other, more productive goals.

The Goal Is Not Moving You Forward

As a business owner, we always strive to make our businesses grow. Your business’ goal should be another step forward in making your business prosper. If that goal does not contribute to the success of the business, then maybe it’s time to put it in the back burner for now. Review your goals to determine which ones you need to let go of.

Jul 26
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Business Planning For New Companies

By Blogpost

We are all capable of coming up with a great idea. Some of the great ideas that we come up with have the potential of becoming a successful business. Every successful international company that we know of today started with the business owner thinking of “what ifs” and acting on them. Microsoft, Apple, Facebook, Google and many others all became possible because their creators had an idea for a good business. But simply having a great idea is not enough. You have to act on it to make it a reality. Anyone can think of one but transforming it into a business is a whole new ballgame.

Part of the process of making that idea a reality is planning. You need to have a guide to go from the starting line to the finish line. There are no shortcuts here. If there is, all of us would own international companies or successful businesses. But planning for a startup company is way different from planning for an already established one. There might be standard templates that you can follow, but following pre-planned templates to a T is not encouraged – every business is different from each other. What you can do is to get advice or tips and adapt them to suit your business needs. Customize your planning around your idea, your resources and capabilities. Make it your own and you’ll see more favorable results.

Company Has a Clear Objective

“We are going to sell X product or service.” is as ambiguous as they come. Your startup company’s business plan should be as detailed as possible and viable. State what your company is and when you’re planning on going into business. Be specific on what products and services you are offering. Specify your target market and how you are going to reach them. This will be your foundation, and this is what potential investors are going to examine.

Identify Your Target Market

Coming up with an idea is usually the result of trying to solve a problem. Go back to that moment and identify what gave you the idea in the first place. If it resulted in trying to solve a problem, target the people who have that same problem. Examine what solutions other companies are providing. Be specific when stating who will be buying your products or which market you are trying to get in to.

Know the Competition

Get to know the competition before diving in. As mentioned before, examine what solutions the other companies are providing. Ask yourself, “How can I differentiate myself from the competition?” There is no reason for consumers to switch to your brand if you are offering exactly the same product or service that other companies are already providing. You can differentiate yourself through pricing, but more importantly, you should offer them something invaluable, that the competition does not provide.