Strategic Business Tips from Kim Beasley

With the New Year starting today, I decided to start a new month-long series to help business owners find different ways to grow their businesses. During this month, I will share different tips that will help you to not only grow your business but also manage its growth.

Some of the topics that I plan on covering this month are:

• Cross marketing
• Social media
• Business management
• Virtual support teams
• Blogging

As I share these tips, I want to encourage you to respond with a comment about how they have helped you with your business or share additional information of how you currently are using the chosen topic. I’m looking forward to hearing of great things for everyone.

What I want to know is…what are your top 10 goals for 2010 that you have planned for your business? Have you made any plans for your personal strategy in the coming year? Have you started your 2010 strategy plan? If not, then you still have time to start your planning.

As you look forward to where you want to take your business and be personally in 2010, don’t let it over stress you. Take some time this week to think about all that you want to accomplish in 2010 and start making your top “10″ list. Below are some suggestions of areas that you might want to concentrate on:

• Obtaining a mentor
• Updating your office equipment
• Setting up your business website
• Connecting with potential joint venture partners
• Create an Internet strategy plan to grow your business
• Take classes to enrich your knowledge
• Develop a social media presence

Wow, this is just a starter list and there is much, much more that you can include on your Top “10″ for 2010 list. Once you have created your list, please share with me by leaving a comment. I would love to hear what you are doing to be successful in 2010.

Have you ever felt like you were lassoed into a career like the cartoon above? Do you feel that you have been boxed into doing a job that you are just not passionate about? Don’t be like the cartoon above and get lassoed into a “corporate job” if you have an entrepreneur spirit.

To help you make the transition to being an entrepreneur from working a “corporate job”, I want to encourage you to read The Toilet Paper Entrepreneur (TPE) which was written by Michael Michalowicz. Mike wrote TPE in 2008 and it includes the 10 biggest mistakes that enterpreneurs can make in managing their businesses. Below are the 10 mistakes and a brief explanation regarding each mistake.

Trying to do it all

To start with the first point, it simply emphasizes that an entrepreneur should not try to be a master of everything but discover his or her best strengths and talents. Then you can use them to grow or manage your business. It is better to develop a few of these strengths rather than try to master everything, which could produce negative results in terms of performance in your  company.

Not being forthright

The second mistake is very vital in entrepreneurship, as it is concerns  the company’s integrity. Mistakes are part of doing business on a daily basis. No one is perfect, whether an organization or person. To cover up your mistakes is not good for a business because the truth may come out at a later time which could cause embarrassment for your company’s name.   Remember the quotation, “Honesty is the best policy.”

No clear market message

The third point is focused on the need for your company to have a clear presentation of a consistent message on all fronts. Having mixed messages produces unclear expectations and can affect the way that your current or potential clients view your business.

Cutting price

The fourth point is about making sure that your products or services are priced to differentiate your company from your competition.. It is a good idea to price your products or services strategically to help keep the cost manageable.

No rallying point

The fifth point is concentrated on getting employees who have the same goal with the company. The company must identify its purpose, not just on how to make more profit but to attract like minded employees who can be assets to the company.

Pie in the sky financial goals

The sixth point accentuates that many entrepreneurs are aiming at goals that are so high that they are unrealistic to achieve. Mike, the author, proposed that the company should set SMART- Specific, Measurable, Accountability, Realistic and Time Specific goals to ensure continuous development. Instead of setting goals that are impossible to achieve, business owners should focus on creating great plans.

Being all business all the time

The seventh point institutes that personal matters should be separated from business. This means that a balance should be created between your business life and personal life. By keeping them seperated, you may be avoiding problems that could negatively affect your business. You, as an entrepreneur, should create a balance between personal and business life by developing a plan that delineates how you will handle each on a daily basis.

Being a weak leader

The eighth point pertains to a leader being strong and effective. A leader who sets the goals of the company, communicates to the team regularly and motivates them to have a positive result is what every entrepreneur needs to succeed with his or her business. Being a strong leader doesn’t mean that you “lord” over everyone, rather it means that you…

• Listen and hear what your team has to say
• Do not micro-manage your team
• Can be open to change
• Understand that you, as an entrepreneur, do not have all the answers

Assuming no competition

The ninth point is about assuming no competition. You must assume that there is competition in your business industry that can affect your business. By understanding this, you can research your competition to see what areas you may want to improve in order to have better products and services that  can be offered to the customers.

Trying to get rich

Finally, trying to get rich quick is not bad, but expecting too much from your company, such as to be rich overnight, is impossible. Success requires effort, perseverance, hardships, and takes time to be achieved. Allow the company to grow and learn from every experience, good or bad, until you reach your business aspirations.

Do you have an idea of what a virtual assistant is? What do you think are the hiring processes for virtual assistants? Do you know how to manage a virtual team? What are the tools that can be used to communicate and manage the virtual team?

These are a few questions that can be asked when planning to build a virtual team or in getting a virtual assistant. A Virtual assistant is an independent entrepreneur or contractor who uses technology to provide services to clients globally, in the field of accounting, legal, marketing, etc. Virtual assistants may also have their own specializations such as graphic, web design, IT support, translations, etc.

It is essential for small business owners to hire virtual assistants that are competent, which means that they should have the experience and expertise in the services you need them to perform. Not only that, the virtual assistant should be someone who can work professionally and has a business sense. He or she must have impressive administrative skills and be a team player who could help in running the business along with the owners.

Business owners, on the other hand, should carefully plan the hiring process. Meaning, the owners must determine the qualifications and skills that they need a virtual assistant to have. The first step is to review the resume of the applicant so that the owner will know if the candidate is qualified. If you are working with someone whose native language is different yours, a writing test should also follow, because written and communication skills are very important qualifications for a virtual assistant. Then proceed with the interview process. After the candidate successfully passes with all of the above, a business reference is also important to learn about the reputation and credibility of the candidate.

Official kick-off for Lighthouse Christian Academy Tele-fundraiser is December 10, 2009. Live tele-fundraiser call at 7pm CST via Blog Talk Radio (http://blogtalkradio.com/kimbeasley)

For the month of December 2009, I have chosen to hold a tele-fundraiser for The Lighthouse Christian Academy (LCA). LCA promotes a loving, nurturing environment for all its learners with equal rights and opportunities for its students. Because they specialize in giving each child a unique environment to learn in,this is just one of the things that makes LCA special.

The purpose of LCA is to provide education to all children regardless of race, sex,or intellectual capacities. LCA believes in providing education to all children and specializes in teaching gifted or slow learners, those with emotional disabilities such as autism, children who are considered special children who have deficit disorders, etc. The age group that LCA provides education to is kindergarten to 12th grade students.

The Academy’s goal is to differentiate learning
to meet the uniqueness of their students.

By donating to the Academy, your contribution will produce funds to keep the school open and maintain the education of the children. Moreover, the funds raised will be used to purchase computers, support the overhead costs for maintaining the building, maintenance and utilities and subsidize the costs of the curriculum.

For the reasons above, we encourage everyone to donate money to make these objectives visible and possible. Your gift or donation is something that every child in LCA will value for the rest of their lives. The future of these children will depend on your donation. Giving a gift that keeps giving to the children of LCA gives them access to a valued and child-centered education and will give them a very bright future with high hopes and dreams.

Sharing is giving and giving is loving. So, let us give and share our love with the children from the LCA so they can feel that they are special in their own ways. Donate with your greatest sincerity, love and kindness!

Give a Gift that keeps Giving