Business Development: Deciding What Business to Pursue.

Sometimes you see opportunities to go into business for yourself. Sometimes those opportunities come out of the woodworks and you are overwhelmed. Maybe you have 100 ideas about a new business to start and don’t know which one to pursue. When that starts to happen I recommend you conduct a personal SWOT analysis. SWOT is an analytic tool to determine strengths and weaknesses, usually, your business versus your competitors. In this case, it’s just you so the SWOT stands for Strengths, Weaknesses, Opportunities, and Talents (as opposed to threats in the original SWOT). We will go step by step through a personal SWOT analysis and get you on the road to figuring out what business you should be going after. Remember, this isn’t the only step, if you decide on a business you still need to do a Market Analysis to determine if it’s a viable business.Copy of DSS SWOT

Strengths

You are going to examine what advantages you have that others may not. What education have you received, what certifications? Are there skills you have that you do better than other people? What have you accomplished that sets you apart? What kind of a network have you built?

Weaknesses

This is examining your weak points. Failure to understand where we need help can sink us fast, so be honest with yourself. What don’t you like doing or aren’t very good at doing so you avoid it? What skills do you still need to work on? Where are your education gaps? What are your negative work habits? Are there personality traits that limit you?

Opportunities

Looking at the business and personal opening that might be available to you. In what industries are you connected? How extensive is your network? How is your network constructed, as in what types of people? What equipment do you own or have easy access to? What are your capital resources?

Talents

These are your inherent abilities rather than trained or learned skills. What are you naturally good at? What do you do that feels good? What kind of tasks give you a sense of accomplishment? What do you get compliments on that isn’t something you learned?

Once you have all of these written down a better picture of what business you should be involved in will come to light. The more strengths, talents, and opportunities that align the better your chances of sticking to it and making something a viable business. Get a couple of ideas together then start your market analysis to see where your efforts should go. Keep in mind you don’t have to start at the top, get a minimally viable product and start from there.

 

Do You Have a Plan?

“Everyone has a plan until they get punched in the mouth” – Mike Tyson

Every business will eventually get “Punched in the mouth” and needs to know what the plan is for when that happens. Sometimes that plan goes right out the window, as Mike Tyson explained, and sometimes it’s followed to the letter, though not often. Having a plan in place gives your business a fighting chance when things go wrong. Succession planning, crisis planning, disaster planning, it all needs to be done because it can happen to any business any time. As Dwight D. Eisenhower said, “Plans are worthless, but planning is everything.” Sometimes the plans don’t hold up but since the resources are gathered and ready you can adapt the plan to suit the situation. If you have no plan you not only don’t know what to do, but you have no resources to do anything about it. My tip? Look at the worst-case scenario and be ready for it, just be glad when it never comes. _Everybody has a plan until they get punched in the mouth._

A Bloggers Monthly Checklist

The last in the series guiding you through the daily, weekly and monthly life of a blogger. There is more to it but these three guides should give you a good start and serve to steer you in the right direction. Whether you blog as part of a Content Marketing plan, part of an affiliate program, to earn extra income or just because you like it, make sure you have some fun while you plug away at that keyboard.

A Blogger'sMonthly Schedule

DS Boot Camp: Leads

Leads are the lifeblood of any business. In Direct Sales, it is doubly important and at the same time almost twice as hard. DS gets a stigma which shuts down leads before they even have a chance to hear your message. Here are some places to get new leads. Remember, people buy from people they trust. Develop the trust, then develop the lead.

WHERE TO FIND DIRECT SALES LEADS

Direct Sales Boot Camp: The Do’s and Don’ts of DS

The Direct Sales landscape can be tricky to navigate for new and old reps alike. I have put together a list of things to do and not to do as you run your DS business. Theses are proven strategies I have seen work with multiple companies and reps.

 

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DS Boot Camp: The Set Up

Once you have decided on what Direct Sales (DS) business you want to be a part of you need to set up your business structure. I always tell people new to the DS world to make sure they run their business like a business or they are just having an expensive party. Here are the steps I recommend to get your business off the ground.

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Should you Hire a Business Coach?

My Business Adviser is tooting its own horn a bit this week and talking about how I can help you. I personally have never run across a business that didn’t need some level of business coaching….maybe not me, but they needed help from someone. We all try to do everything ourselves with mixed results. We can’t be experts at everything which is why we bring in other people to help out. Myself, I have to have a brilliant accountant because that is my weak point. I know the basics but my accountant fills in the knowledge gaps for me. Here is a quick infographic talking about Business Coaches in general. I will share stories this week as well and feel free to send me any questions you might have.

 

Should You Have A Business Coach

Small Business Tools

It’s been a rough week with the flu dropping me and everyone else at the office like flies. It’s a good thing I can coach virtually so I don’t have sick clients as well. Today I am posting two infographics about small businesses to make up for my week of rest. The first one is about the 5 Social Media tools you should be using and the second id a Small Business Start-up Checklist for those of you who are just beginning this journey. Something for everyone! As always drop me a line on Facebook if you have any questions or think you may want a coach to help your business take things up a notch. First consult is free and you will walk away with actionable info, not just a sales pitch.

Why Small Businesses Struggle

All the time I see small businesses pop into view with gusto then fade away with barely a peep. Why? Usually, it’s because they are driven by passion and not much else. Contrary to what people like to believe, passion is not enough. Here are 10 reasons I have seen that make small business a struggle. With proper planning and coaching none of these need to stop your passion.

Reasons Small Businesses Stuggle