The 3 S’s Needed to Achieve Business Success

According to Business Optimization Strategist, Stephen Pierce, there are three (3) primary reasons why people fail on the Internet:

1. Lack of Structure
2. Lack of Systems
3. Lack of Skills

However, the lack of these three S’s is not just a reason why online businesses fail. It’s also a reason why offline businesses fail as well.

Business Structure

The structure of a business provides a framework for how the company will be operated and there can be several ways of looking at how to structure a business. For instance, a business can be set up as a sole proprietorship, a partnership or a corporation and there are pros and cons for each type of business structure.

Some companies are built around having lots and lots of employees while other multi-million dollar businesses have very few employees. For example, Internet Marketing Expert Armand Morin who reported generates about $20 million dollars per annum from his Internet activities has just seven members of staff. As you can imagine this greatly enhances the profitability of his companies.

Most businesses have very humble origins but it’s important to have a clear vision of how you see your business growing in the future. This will affect how you structure your business. The structure that you choose for your business will be flexible enough to grow as your business grows. It should also be a structure that allows you to maximise your business profits.

Business Systems

Brad Semp of CashMap Systems is also of the view that systems are critical to entrepreneurial success. The problem is that many people are intimidated by systems. Yet, the best systems are designed to make your life easier not more complicated.

“Systems are very powerful and the most powerful systems are simple ones.” Brad Semp

Business systems are just the processes you use to carry out various tasks in your business. So on one level you are already automatically creating systems in your business. It’s just that they might not be the best and most effective systems.

Documenting the steps involved in all the tasks that you do on a daily basis will provide clarity as to where and how your time is being spent. And, once you’ve achieved this you can then evaluate and improve your systems.

You’ll also be able to see where your time could be better spent and the things that you can outsource. The challenge with the latter is that you can’t properly outsource if you’ve no clear idea of what you’re doing.

With effective business systems in place you’ll have a step-by-step process that you or anyone else in your business can repeatedly follow to achieve consistent results. You’ll be able to focus on money-making or income generating tasks rather than busy work.

With the right systems in place you can focus on working on your business rather than in it. And you’ll have the confidence that should you want to take time away from your business that others can efficiently continue to run your business and make money even in your absence.

Business Skills

“The reason people are losing money is because they don’t have the right business skills and tools.” Keith Cunningham

The above statement holds true whether there’s an economic downturn or whether the global economy is thriving. There’re many entrepreneurs and business owners who are continuing to make a lot of money even although there is a recession. And, even those who may have lost money, the amount of money they have lost compared to other business owners is relatively small.

It’s a times like this when entrepreneurs and business owners need to be most flexible. It’s easy to make money when the going is good. It requires greater skill to make money when the going is bad.

It has been said that there are four (4) ways to make money. You can make money as:

1. An Employee,
2. A Self-Employed Person,
3. A Business Owner, or
4. An Investor.

Now the wealthiest individuals are those who are able to make money in all four ways. Take Warren Buffett for example. He is known as an investor but he is also a business owner, he is also self-employed and he is also an employee.

So a key to business success and to creating wealth is to develop your skill set so that you can successfully be any one of these four. This means you’ll have to continue to improve and expand your skills and invest in your continued personal and professional development.

Custom Neon Signs Are Worthwhile Investments With Bolder and Brighter Concepts

Business owners constantly face the struggle of grabbing the attention of their passing customers. With people leading so busy lives these days, it is hard to keep them engaged let alone capture their interest. Successful advertising can only mean using bolder and brighter concepts. With increasing demands for compelling content, impressive design and glowing presentations, it is only appropriate that business owners should make an investment on custom neon signs.

The use of neon advertising has been proven effective. But, with a multitude of other similar users, it can be difficult to rise above the rest. Buying your own panels right off the display case and seeing fifty more units that look exactly just like them can barely make your business noticeable to everybody. Besides, the standard colors and the flat design may not even to your liking.

With custom neon signs, you can have far more attractive units that can enhance the appearance of your candy store, bakery or car dealership. What’s more is that because of their beautiful design, prospective clients who are strolling or driving by will take notice of your establishment. They will then be compelled to check out what your business is all about. With people starting to notice your business, you can be sure there’ll be lots of them dropping by every day. Through the help of your personalized ad units, you may just have gained the ability to successfully boost your chances of having sales and profits on a daily basis.

Nevertheless, you should know though that getting your signs customized can mean you’ll be paying a lot more. Of course, you’ll have to spend a little extra for the opportunity to change the font style, the layout, the border and the background. The same is true for the chance to have them in colors that you really love and will complement your shop. Even though you’ll be paying a lot more, bear in mind that what you are making are investments that are truly worthwhile.

Tax Company For Your Small Business

Just because you begin as a small business doesn’t mean you need to think small. If you ever plan on expanding, even just your client base, unless you’re a tax expert or accountant yourself, you’ll need to employ the help of some financial planners to ensure that your company grows and thrives.

Not only will it relieve some of the pressure and stress during tax season or when balancing your books, but it will give you more free time to focus on other aspects of your business that may suffer during tax season or budgeting days.

Hiring a tax company or outside accounting services can put a fresh perspective on your business’s spending and budgeting. You might be spending more money than necessary and not saving enough in tax breaks. Accountants know how to stretch dollars and can pinpoint wasteful expenditures or ways that you can slash your expenses without sacrificing the quality of your product or service.

Hiring a tax company, especially around tax season, will not only potentially save you hundreds to thousands of dollars in deductions and write-offs, but can free you up to focus on more pressing business manners.

You won’t have to scale back your services or production due to sorting through a mess of receipts. You’ll also probably find yourself receiving a bigger return than you previously thought possible. There are many benefits that small business owners overlook due to inexperience. It’s a tax company’s job to get you every penny possible on your return.

Accounting services can provide invaluable help if you ever decide to hire new employees, change the services or products you offer, or if you choose to expand your company in any other sense. Considering moving to a bigger office? An accountant can help with the budgeting and practical financial matters so you can concern yourself with other aspects of the move.

Thinking of starting a partnership? You’ll need an expert to help you with the paperwork and legal logistics of the change. Updating bookkeeping software, changes in billing, organizing financial records-accounting services can handle a variety of financial problems that will undoubtedly arise as your business grows.

You may think that your budget is too tight to afford the services of a tax company or accountant, but to begin with you will probably only need their help a few times a year. And the money that they can potentially save you is well worth the initial cost. The most common reason for new businesses failing is due to financial troubles, many of which can be avoided by enlisting in financial experts to keep you on track. Accountants can help you procure loan and save precious capital. Don’t risk losing your dream due to poor planning.

There are many different types of tax agents and accountants. Research which one would be most helpful for your business and individual needs and ask friends and trusted colleagues for referrals. It could be one of the wisest investments you make for your business.