Ideas for Growing Your Business

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9 years ago
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Open another location. This is often the first way business owners approach growth. If you feel confident that your current business location is under control, consider expanding by opening a new location. Offer your business as a franchise or business opportunity. Franchising your business will allow for growth without requiring you to manage the new location. This will help to maximize the time you spend improving your business in other ways, too. License your product. This can be an effective, low-cost growth medium, particularly if you have a service product or branded product. Licensing also minimizes your risk and is low cost in comparison to the price of starting your own company to produce and sell your brand or product. To find a licensing partner, start by researching companies that provide products or services similar to yours. Form an alliance. Aligning yourself with a similar type of business can be

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7 Tips to Successfully Grow Your Business

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9 years ago
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1. Know what you do and what you don’t do. Some of the best advice I learned early on was  don’t try to be all things to all people, because it typically means you are not very good at any one thing. As such, I believe that it is a mistake to take on far-reaching service offerings, develop products outside your comfort zone or expand outside of your target markets just to make a few extra bucks. When you do that, you jeopardize your true strength to focus on what you may not be successful at and create undo pressures for your team, your budgets, and your company as a whole. 2. Stay focused on the prize. We have always tried to be very strategic in our approach to growth. We set three year business plans, track against those plans, and modify them when necessary. I believe that if you

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How to Turn Every Failure Into a Measure for Success

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9 years ago
9 years ago 0

You don’t have to look hard to see the benefits of failure: Before coaching the Dallas Cowboys to two Super Bowl victories and five NFC championships, Tom Landry had one of the worst first seasons on record (winning no games) and won five or fewer games over the next four seasons. Before Microsoft, Bill Gates dropped out of Harvard and tanked his first business (with Microsoft co-founder Paul Allen), Traf-O-Data. Albert Einstein didn’t speak until he was 4 and did not read until he was 7, causing his teachers and parents to think he was mentally handicapped. He was expelled from school and refused admittance to Zurich Polytechnic. The truth is that anyone who has achieved anything great has at some point made a choice to embrace failure instead of allowing it to hold him or her back. Failure paves our way to success and gives us permission to excel.

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12 Successful Entrepreneurs Share The Best Advice They Ever Got

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9 years ago
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Being a successful entrepreneur frequently involves a series of missteps and mistakes before finally nailing the right idea or business. The difference, for many, between giving up and persisting through the toughest times can be getting advice from people who have done it before — and being smart enough to listen. From investor Mark Cuban’s dad telling him that there are no shortcuts to Lululemon founder Chip Wilson’s realization that people actually enjoy helping others, we asked 12 successful entrepreneurs to share the best advice they ever got, discovering the lessons that stick with them to this day. Restaurateur Jon Taffer: See every detail of your business. Jon Taffer “Years ago when I was very young,” recalls Taffer, the host of TV show “Bar Rescue” and a former business owner, in a recent interview with Business Insider, “a VP of Hyatt looked at me and said, ‘You look, but you don’t see.’”

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7 must-know tips from successful entrepreneurs

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9 years ago
9 years ago 0

Did you know that, according to theSmall Business Administration, only a third of new businesses survive 10 years or more? What can you do to make your small business one of the thrivers? To find out, we asked entrepreneurs who have succeeded. 1. Love what you do. The road to success is a hard one. But, according to Lisa King, owner ofBrownie Points Inc., which sells gourmet brownies and holiday gift baskets, it’s a lot easier if you’re passionate about your business’s purpose. “If you don’t [love what you do], it’s hard to be successful,” she says. She adds that this helps you stay positive: “You need to maintain your optimism. Once it’s gone, you’re done.” 2. Build a team immersed in your vision. “For me, it’s more than just hiring experienced people. It’s important to demonstrate the type of organization we want to be,” says Mike Mondello, president of

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10 Quotes From Entrepreneurial Icons That Will Inspire You to Crush 2015

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9 years ago
9 years ago 0

1. I like thinking big. If you’re going to be thinking anything, you might as well think big. — Donald Trump No successful entrepreneur starts something with the goal of being mildly successful, especially not Donald Trump. If you truly believe that you have an amazing idea or think you can expand your business, then go for it. The “go big or go home” mentality has worked very well for many — will you be next? 2. Move fast and break things. Unless you are breaking stuff, you are not moving fast enough. — Mark Zukerberg Sometimes, windows of opportunity don’t remain open for too long. If you have an idea or see an opportunity, strike and move fast. It is impossible to tiptoe along and avoid all mistakes or pitfalls. Those that wait, or move slow due to being over-cautious will sometimes miss out. Facebook was struggling with monetization when the majority

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Seven Secrets of Self-Made Multimillionaires

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9 years ago
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No. 1: Decide to Be a Multimillionaire — You first have to decide you want to be a self-made millionaire. I went from nothing—no money, just ideas and a lot of hard work—to create a net worth that probably cannot be destroyed in my lifetime. The first step was making a decision and setting a target. Every day for years, I wrote down this statement: “I am worth over $100,000,000!” No. 2: Get Rid of Poverty Thinking — There’s no shortage of money on planet Earth, only a shortage of people who think correctly about it. To become a millionaire from scratch, you must end the poverty thinking. I know because I had to. I was raised by a single mother who did everything possible to put three boys through school and make ends meets. Many of the lessons she taught me encouraged a sense of scarcity and fear: “Eat all your

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Looking for Inspiration? These 10 Articles Will Ignite Your Entrepreneurial Spark.

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9 years ago
9 years ago 0

10 Inspirational Quotes from Navy SEAL Training The lessons learned by Navy SEALs extend well into the field of entrepreneurship. For example, SEALs learn through their painfully rigorous training that nothing lasts forever. It’s important for entrepreneurs to keep that in mind, particularly in those early days of building a business, where the 24/7 toil can seem endless. So keep going. Keep on keepin’ on. And for more lessons on how to be a trooper from the ultimate troopers, read this post. The Most Telling Sign That You Might Be an Entrepreneur Wondering if you have what it takes to make it on your own? There are50 signs that you might be headed in the right direction, but it’s really all fluff around the center donut hole: Are you willing to take risks where others aren’t? That’s what will separate you from the pack. Become More Positive With These 5

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