Starting up your business can leave you feeling out of your element as you are moving up a huge learning curve. There are a few common pitfalls that you need to look out for.
1. Business structure
3. Testing for your Minimum Viable Product
4. Brand Properties
5. Loyalty / CRM
If you have these components in place, you are much more likely to be successful. Watch the video to understand each pitfall and the best practices around them.
As a small business owner we need creativity to help us with product development, creating new ideas in our business, and to stay ahead of the competition.
Sometimes we think that other people are the creative ones and that this is not a strength that we have ourselves. But that is not true! Everyone has creativity inside of them, they just need to know the tools and how to recognize it in yourself.
This video outlines the three major steps of creativity:
1. Brainstorming. Some different tactics to approach brainstorming and tools that you should try out. A lot of times it is as simple as starting to write things down.
2. Prioritization. Once you have a bunch of ideas it is important to figure out which ones are the best ideas or what order you can actually approach them. Everyone has a limitation on time and money, so prioritization becomes important.
3. Implementation. Once you’ve decided on the ideas, action becomes necessary. Many times people want to wait and make things perfect, but often it is good to get your MVP (minimum viable product) out there to begin your testing.
At the end of the video, there are additional tips and tricks, as well as an example of where creativity has made a huge difference.
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A one-page business plan can be great if you are using the business plan more of an action plan for yourself, your partner, and your company. It makes it easy to update, keeps the attention of the reader, and is to the point.
Another way to use a one-page business plan is to use it to generate interest from customers, potential partners/employees, suppliers, and initial interest from financial companies.
The video is a quick overview of the main components of the one-pager & then how to make the one-pager a little bit different (add POP!)
Financials are the guiding light for a small business. But most if you are a small business owner who dreads financial planning, you are not alone.
Paul Smith, a commercial banker of over 20 years who now helps entrepreneurs attract funding, walks through the overview of how to get through your financial projections needed for a business or for your regular strategic planning.