As we embark upon the dawn of a new era, it is time to think about how to make your business more powerful and profitable in the new year.
Entrepreneurship is growing among women business owners. The market is filling up with niche ideas, awesome new products and exciting adventures. You can do business as usual, or stand out in a way that attracts lots of new clients, contracts and amazing opportunities.
To ensure that your product or service gets the attention it deserves, consider adding a few tweaks that will make a major difference. The key to lasting success constant improvement. Here are a five ways to make your business stand out and cause success in the new year.
Position Yourself As The Expert In A specific Niche
Instead of being a jack of all trades and a master of none, pick an area to focus your expertise. I had a client that left her job to become a virtual assistant. After about six months on her own, she barely had any traction. During our consultation, I encouraged to specialize in one area. Soon after our meeting she needed a plumber who showed up late and disorganized. And that is when it hit her: to become an assistant to the service industry owners. She rebranded herself as the virtual assistant to plumbers, contractors, lawn care businesses, etc. It was an untapped market of business owners who were skilled at what they did, but needed someone to keep things in order. Now her business is thriving. Find a need and fill it with your unique expertise.
Pick an area to focus your expertise
Send Attention-Grabbing Mail
Consider sending out exciting mail to clients or prospects to grab their attention. Take a cue from fashion houses who often send elaborate invites to their guests. The idea here is to stand out and build anticipation for a great show. Often guests have so many shows to attend that they must choose some and forsake others. In order to pack the house, elaborate invites makes them stand out. Louis Vuitton is known for sending beautiful clutches with the invitation enclosed.
Create Exclusive Services Or Offers
Consider what is missing in your industry and offer it to your customers. Forward thinking dentists have transformed the dreaded dental appointment into an exciting adventure with dental spas that offers massage therapy, aroma therapy, classy drinks, movies and even noise cancelling headphones! This kind of service will certainly encourage clients to show up and book future appointments. Seek to fix a problem that your industry has and you will stand out.
Create a Better Experience
Zappos is known for incredible customer service. They sometimes randomly upgrade customers shipping to next day. That kind of surprise is a great talking point! How can you improve your customer’s experience? Whether it’s with hand written notes, unexpected calls, or exclusive meetings with valued clients. There’s something that you can do to personalize your client’s encounter with your business.
Be Authentic, Be Bold, Be Different!
There are so many great business ideas and opportunities out there. While it may be tempting to add every service that your competitors have to your business model, remember to always be true to who you are, what you can offer and what makes you unique. Whether it’s your special frosting recipe or signature design elements, play up your unique strengths and quality and authentically market it to your audience.
Go against the grain, follow your instinct when making a mark… Don’t be compelled to develop a cookie-cutter business model like everyone else. Trust your creative ingenuity - try it YOUR way. Your next move may be your best move!
It isn't always easy to stay on top of your finances, especially when you have developed unhealthy spending habits over the years. However, as you begin to realize the many benefits of having healthy finances, it can become something you want to make a conscious effort to improve. When your finances are in a good place, you often have access to better opportunities whether it be a mortgage loan, greater credit line or business loan. On that note, here is how you can become an expert at managing your finances in case you need a few tips.
Learn to Use Technology
The good thing about managing finances in the technological age is that you don't have to do it alone. There are so many apps available that will help you pay bills on time and track your expenses. For instance, some apps force you to live within your actual income and tell you what to do when you need to balance your budget.
If you need an app that will help you get better at saving, then some will set aside your spare change for you. Also, don't be afraid to use more simple tools such as your smartphone calendar to set reminders about payments if you don't automate them.
Seek Legal Advice
Sometimes, being an expert at something means understanding that you can't possibly know it all. This is why you have professionals around you that can help fill in the gaps where you're lacking. Consider hiring a legal firm to help with any challenges that are beyond you. Lexington Law is a good firm as they could help remove negative items from your credit report. Read this Lexington Law Review (Our #1 Credit Repair Service of 2019) to find out more about how they could help improve your finances.
You can't do better than what you know when it comes to managing finances. You should, therefore, invest your time in learning more about finances and how to manage them. Think about what your goals for your finances are and what knowledge gaps you need to fill.
For example, if you want to invest in the stock market so that you can improve your net worth, then you may need to learn more about investing to do so successfully. To boost your knowledge, try reading articles on credible blogs that share finance information from professionals. Also, be weary of content from finance-driven companies as it could be biased.
Work on Growing Your Income
As a self-proclaimed finance guru, you know that the more sources of income that you have, the better. Work on increasing your streams of income so that you have more money to meet your targets whether it's to save for a property or put larger sums towards retirement. One way to do so would be by getting extra income by doing social media marketing for businesses or creating tutorials on YouTube. If you own a property, renting out rooms is a great way to make passive income.
Live Within Your Means
It can be difficult to live within your means when you live in a society that is always presenting you with things to buy. However, being more conscious about the things that you purchase could help you realize that most are wants rather than needs. To live within your means, always take time to think about a purchase as opposed to impulse spending. You should always get good at bargain hunting as many times you can find items of similar quality at a cheaper price.
Learn How to Manage Debt
Debt doesn't have to be a bad thing if you understand how it works and how to manage it. It can be a tool for credit building when you understand the fundamentals. For instance, if you take out a loan or credit card, always be mindful of your interest rates.
By paying the amount of money you borrowed back in full before the due date, you won't have to pay interest on what you borrowed. If you can't pay back in full, paying more than the minimum payment will ensure you incur less interest. For the most part, the secret to good debt management is never spending more than you can afford to pay back.
Managing finances is a life skill that can help improve your quality of life. By following the mentioned tips and taking your finances more seriously, you're more likely to master the art of healthy finances.