The Best 5 Tips to Build your Own Business

In Business, EntrepreneurshipFebruary 24, 20224 Minutes

Entrepreneurship

According to figures from GEM Global Report, 100 million businesses are launched annually. While Startup Genome reports that 11 startups out of 12 usually fail.

How does that happen?

There are various reasons such as the lack of capital or market. But there are some basic steps that anyone can take to build a lasting business.

With the rise of startup books, movies, and public speaking, many of us have delved into technical stuff so much that we tend to forget our bases.

In this article, we have outlined some of the most simple tips that can prevent your business from going downhill. Without further ado, let’s begin.

Have Faith in Yourself

The only one that can stop you from having success is you. Let’s accept it, everyone has doubts while starting something new. Jeff Bezos left his high-end job and risked everything for Amazon.

It was risky, it was new, it could lead anywhere but he had a firm belief in himself. And yes, that’s why he is the richest person on the planet.

Look around and you will find people ready to magnify your doubts if you aren’t confident. Don’t let them! Believe in yourself and keep pushing your limits.

Research, Research, Research

There is much much more knowledge in the world that one can absorb. Research is one of the most fundamental steps in starting a business. You have to open up your computer and look for ideas similar to yours.

Find what worked out for them and what didn’t. Research about your target market and find out their pain points. Research about your competitor and find out where you can exceed them.

Remember, if you don’t have the right amount of knowledge in your arsenal, you will never set up a sturdy platform for your business.

Look for Advice

While research can lead you to the avenues of possibilities, networking with the right people can provide you real-life experiences.

Look for the people who have ideas & principles similar to you. Social websites such as Facebook & Reddit are the best places to search for these people.

When you connect with people who have been there and done that before, you hone your ideas, find your weaknesses, and explore possibilities that can craft a healthy business.

Get Together an A-Team

Every person on the planet has different strengths and weaknesses. There are some people who are born to lead and manage. While there are some who work as a lone wolf but always deliver the results. Some people are smart workers while the others are workhorses.

Your job is to find the right combination of these people who can refine your ideas and make your job easier. Remember, a business always runs with team effort so start networking before you even think of building a team.

Minimize Costs

As mentioned earlier, the lack of capital is one of the major reasons for startup failure. However, there is a flip side to this coin. In some cases, the costs of a business exceeds the profits which can lead to only bankruptcy.

We want you to analyze your costs at the very beginning of your business. Ask yourself the following questions.

  • Do you need a big office?
  • Do you need full-time workers? Or affordable virtual workers are fine?
  • Can any cheap software replace any of your workers?
  • Do you really need an office? Won’t virtual offices and cafes for meetings work for you?

James Vincent

Co-Owner of Hot Source award winning marketing agency and associate lecturer at University of Worcester


How to Create Your Marketing Agency

In Business, Entrepreneurship, MarketingFebruary 24, 20224 Minutes

Entrepreneurship

Are you a marketer who has honed enough skills to create your own marketing company?

Or has starting your own business has always been your end goal?

Since the inception of the startup age, 99% of people have dreams of creating their own company, However, unfortunately, most of these dreams die in their heads.

Why does this happen?

Simply because of the lack of proper guidance. That is exactly why we have mapped out the basic foundation of creating your own marketing agency.

What we have done is compile the best of the many tips scattered around. Following are the basic, easy to follow, and most important tips to creating your own marketing agency.

Market yourself before marketing your business

What is common among top marketers such as Tai Lopez, Neil Patel, Brian Dean, and so many out there?

All of them have a massive following on their social media profiles.

Why?

Because this sends out the most important message, the message of trust and credibility. What they have done is that they have created themselves as their product. When you start marketing yourself and the following begins, your first pool of potential customers automatically generates.

Decide upon a Niche

 

If you are thinking of creating your marketing agency in 2021 then you will be facing a great deal of competition. The easiest way to dodge being invisible in the market is to define your niche specifically.

Since marketing is a huge world in itself, you will need to decide which of the following services will your company be an expert in:

  •      Pay-per-click (PPC) advertising
  •      Search engine optimization (SEO)
  •      Content marketing
  •      Event marketing
  •      Guest blogging
  •      Email marketing

Develop a Business Model

Do not forget for a second that the most important of all factors will be the revenue your agency creates. So you need to develop a clear and strong business model beforehand.

First of all, you will need to list down the resources you will need.

Do you need an office or working virtually will work for you? Will you hire full time-employees or part-time? When you have some idea about your spending then you can move forward to making a model.

How will you get the clients? From freelancing websites? Through Google Ads? Social Media advertisement? Or what?

Then you will outline your billing methods. Following are some of the most common ones:

  • Hourly: Pretty common among freelancers, this method is becoming increasingly popular with agencies as well. You provide the time required for the task and a fixed amount per hour.
  • Flat Retainer: To avoid multiple calculations, some agencies adopt the flat retainer method. Simply sit down with the client and decide upon a fixed amount to be paid every month.
  • Commission Based: This method is most popular among the companies just starting out. Simply, because this automatically gives you an edge over the competition. The client only pays when they get a sale. Isn’t that an offer you can’t refuse?

James Vincent

Co-Owner of Hot Source award winning marketing agency and associate lecturer at University of Worcester


How to Get Yourself Out From Bad Situations in Life

In Lifestyle, EntrepreneurshipFebruary 24, 20224 Minutes

Entrepreneurship

Life is not as a smooth ride as you want it to be. You will come across good situations as well as bad situations in life. However, we often see how people struggle with the bad situations they encounter in life. You don’t have to go through any such struggles because there are few effective tips to follow and get you out of bad situations. Here are some of the most effective tips to follow and get yourself out of bad situations in life.

Focus on the main goal

If you are struggling with something, there’s a possibility for you to lose focus on the main goal. You should not do it. Instead, you will need to keep your focus on the main goal. Then you will be able to maintain focus and energy to get out of the bad situation. You are not so productive when you focus on two or more goals at a time. Hence, make sure that you always pick the main goal and shift your focus to it.

Figure out how you spend your time

Any person who wants to get out of a bad situation in life should carefully take a look at the way how he/she is spending time. You can simply take a book and write down all the work that you do on a daily basis. Then you will be able to get a clear understanding of where your time is going. Or else, you can even get the assistance of a time tracking app. When you take a look at the activities you do in day to day life, you will notice how much time you are wasting on unproductive things. If you can remove those things from your life, you will be able to have enough time to overcome the bad situation you face in life.

Be happy

It is completely natural for a person to encounter a bad situation. You should never get depressed with it. Instead, you will need to be happy about your life. For example, you can record all the small accomplishments that you achieve as you go through a bad situation. Things will become good again. Until that, you just need to hang on.

Overcome all your fears

Fear can make life difficult for anyone who wants to come out from a bad situation in life. Hence, you should learn how to overcome all your fears. Boost your motivation level, so that you can overcome your fears. Then you will be able to have the energy to go ahead and get out of the bad situation you face in your life effectively. It is better if you can take a small risk to overcome fear. This will provide much-needed motivation to you.

Now you have a clear understanding of how to get out of the bad situations in life. Follow these simple steps and you can end up getting the best returns.

James Vincent

Co-Owner of Hot Source award winning marketing agency and associate lecturer at University of Worcester


How To Secure Your Success Through Competitive Rivals

In Business, EntrepreneurshipFebruary 24, 20224 Minutes

Entrepreneurship

Most business owners don’t like to have competitive rivals. That’s because they assume that competitive rivals can be a threat to the dominant behavior they have in the industry. However, having competitive rivals is something good for businesses. That’s because you will be able to find your way to success through competitive rivals. Here’s how you should do it.

Stick to your principles

You should never lose focus on the principles because of competitive rivals you have. When you are facing threats from competition, you will develop a “win at all costs” mentality. This can make you forget about the steps that you can take to achieve success. This is something that happens naturally when you try to compete against your competitors. However, you will need to stick to your principles at all times because that will help you to ensure the long term success of your business. Otherwise, you will tarnish the reputation you maintain in the industry and ruin relationships that you maintain with stakeholders.

Take time to make decisions

When you have a rival, you will tend to work hard. This comes with the level of excitement of having a rival as well. However, this behavior can negatively impact the success of your business. That’s because working too hard can make you take suboptimal and impulsive decisions. When you are about to make a decision, you should take time. You should be cautious, and you will need to follow a thoughtful approach, which can help you to ensure your success.

Critical thinking is one of the most important skills that you will need to develop. Then you will be able to do proper analysis and make quick decisions. In fact, critical thinking can help you to take quick and correct decisions about complex problems that you will have to face.

Don’t take unnecessary risks

Having a competitive rival will not just make you make poor decisions, but it can also make you take unwanted risks. These risks can negatively impact your business in the long run. Hence, you should think twice before you take a risk with your business. You will need to be mindful of the emotional state of your mindset at all times. If the emotional state is not good, you will take unwanted risks. That’s why you need to take control of your emotions and refrain from taking unwanted risks.

Having a rival to your business can be good because it will improve your level of motivation. Along with that, you can go ahead and improve the overall performance of your business venture as well. You can do this to refrain from the potential pitfalls that you will get into. Make sure that you remain committed to the principles and refrain from taking unwanted risks. Likewise, you should introduce the habit of critical thinking. Then you can find your way to success through the competition created by your rivals.

James Vincent

Co-Owner of Hot Source award winning marketing agency and associate lecturer at University of Worcester


How To Remain Committed to Your Financial Success

In Lifestyle, Business, EntrepreneurshipFebruary 24, 20224 Minutes

Entrepreneurship

As an entrepreneur, ensuring financial success is one of the biggest goals that you have in front of you. However, achieving that goal is never an easy thing to do. You will need to remain committed to the goal, regardless of all the challenges and distractions that come on your way. Here are some tips that you can follow to remain committed to your financial success at all times.

Staying committed

You should remain committed to your goals every single day. You should never allow any situation to keep you away from the level of commitment you maintain. To do that, you can deep dive and take a look at the importance of the work you do and your worth. You will also need to take inspired actions at all times. This may sound silly. However, you will need to make sure that you are creating a perfect environment t, where money and clients can funnel through.

Have the right mindset

Without having a proper mindset, you will never be able to remain committed. Hence, you should learn how to get that perfect mindset at all times. For example, you should develop confidence in mind, assuming that clients will come to your business, and your existing clients will recommend you to new clients. This confidence will help you to work accordingly and you will eventually be able to get what you want.

Accept highs and lows

As mentioned earlier, you will not be able to go on a smooth journey to achieve financial goals. You will have to deal with both highs and lows. Regardless of the highs and lows that you come across in life, you will need to remain committed. We are living in a fast-paced environment. As we proceed in the fast-paced environment, we should focus on our spiritual, emotional, and mental health as well. On the other hand, it is important for us to take action based on inspiration. In the meantime, you will need to be responsible and resourceful with money. For example, you shouldn’t allow your bank account balance to drop too low. You will need to act before that happens.

There’s no space for “Plan B”

If Plan A fails, you will think about going forward with Plan B. However, you should always work by assuming that there is no Plan B. When you are facing financial challenges, you can seek the assistance of your parents. This can be your Plan B. Your parents will help you, but this will make you lose track of your commitment. That’s why you shouldn’t allow any space for Plan B. You shouldn’t even think about it. Just create a solid Plan A and stick to it at all times. Then you will be able to get Plan A to thrive and help you to ensure your financial success in the long run.

Follow these simple steps and learn how to remain committed to the financial success you can achieve in your life.

James Vincent

Co-Owner of Hot Source award winning marketing agency and associate lecturer at University of Worcester


How To Start Your Own Business

In Business, EntrepreneurshipFebruary 24, 20224 Minutes

Entrepreneurship

Starting a business isn’t easy. It requires blood and sweat. It involves risks. You need to get funding. Then there are legal requirements.

But you know that all, right?

Even then you have landed here.

Why?

Because you have the drive, don’t you?

What you are looking for is a direction. And that is exactly what we will discuss today. This article isn’t about standard procedures such as budgeting or legal requirements.

Today, we will discuss the fundamental tips on starting a business. Following are some simple and actionable tips on how to start a business that anyone can follow easily.

Know Thyself

Since the inception of startup trends, almost everyone is looking to start a business. Sometimes this is just a temporary feeling.

Know adrenaline?

For example, when you watch a sports movie, don’t you feel like training the very next day? However, the feeling is gone when you wake up. Believe me, you can do nothing worse than starting a business when you actually don’t want to do it.

Business is a very slow process and shows bitter consequences before bearing any fruit. So we want you to lie down, take a deep breath, and ask yourself some questions.

What skills do you have? Do you have the attitude for leading? Is it a service or product that you want to sell? How much money can you capitalize?

When you have answers to these questions, you will have a crystal clear picture in your mind.

Product/Services Hunt

The second step is to hunt for the right products or services. Now most of the people start looking for the best products or services in the first gear. Remember our earlier mentioned point? You have to know what skills do you have and what niches are you most passionate about.

Then start looking for a gap in the market. What do people need right now? What is that the market is failing to provide? Is that a product or a service?

But even the perfect hunt won’t help if you haven’t evaluated your target audience

Evaluate your Target Audience

Once you have decided upon the perfect product or service, you will have to conduct a market analysis. This will determine if the product you decided upon is effective in the real world or not.

Ask yourself the following questions:

  1. Is there any similar product available in the market?
  2. Are people paying for it?
  3. Is there really a place for innovation there?
  4. Why do you think people will buy your product?
  5. Will you need an investment?

Extensive Research

Knowledge is the greatest weapon of all. And how do you gain it? By research. In business, no level of research is ever enough. Whether it is the research for the perfect product or the research of your ideas.

But arguably the most important research of all is the research of your competition. While the surveys provide you the intentions of consumers, the competitive research provides you the real world actions.

Find out what’s worked for your competitors and what hasn’t. Work out the tactics they have missed and implement in your own business. Then keep monitoring the progress and adapt as you go.

James Vincent

Co-Owner of Hot Source award winning marketing agency and associate lecturer at University of Worcester


Tips to remain motivated when things get stressful and tough

In Lifestyle, Business, EntrepreneurshipFebruary 24, 20224 Minutes

Entrepreneurship

Working as a leader is never easy. You will have to deal with numerous tough and stressful situations in day to day life. This can make you feel disappointed. Along with that, you will also notice that you are losing your motivation. However, you shouldn’t allow it to happen. That’s because losing motivation will lead you to even more stressful situations in the future. Here are some tips that you can follow to remain motivated when things get stressful and tough.

Figure out the nature of stress that you are dealing with

There are four different flavors of stress. You should have a clear understanding of those flavors and figure out what flavor of stress that you are currently dealing with.

  • Time stress – This happens when you don’t have enough time to do your work.
  • Anticipatory stress – You will get stressed by worrying about something that happens in the future. For example, can get stressed due to an upcoming presentation.
  • Situations stress – If you don’t have control over the situation, you have to face situational stress.
  • Encounter stress – This happens when the people that you interact with make you feel uneasy.

With this understanding, you need to understand what type of stress you are facing as of now. Then you will be able to go ahead and overcome stress effectively.

Get the help of a partner

Instead of trying to deal with stress on your own, you can seek the assistance of a partner and overcome it. That’s because a partner will be able to recharge your motivation levels effectively. When you lose motivation to do something, you should get in touch with another person that can motivate you. Then he/she will be able to deliver all the support you want to increase your motivation level.

Keep track of the progress

You will have to go through a long journey before you can achieve something. This is why you will need to track progress. Otherwise, you will just focus on the final outcome, and you will assume that there is no progress at all. This can be stressful. This is one of the biggest reasons why people lose motivation. To ensure you don’t get demotivated by this, you will need to keep track of your progress at all times.

Learn to say “No”

When you have a lot of things to do on your plate, you should learn to reject accepting any new tasks. This will also help you to refrain from getting demotivated. Accepting new work can make your life more stressful. Hence, your motivation level will be impacted negatively. There is no need to feel guilty to say no. You are aware of your capabilities and you simply reject what you can’t do.

These are four effective tips that anyone can follow to remain motivated. When you notice that things around you get stressful and tough, you just need to focus on these and get the support you want.

James Vincent

Co-Owner of Hot Source award winning marketing agency and associate lecturer at University of Worcester


How to use LinkedIn Marketing to make your business future-proof

In Business, Entrepreneurship, Social Media, MarketingFebruary 24, 20224 Minutes

Entrepreneurship

Do you want to make your business future-proof? Then numerous strategies are available for you to implement. Out of them, LinkedIn marketing holds a prominent place. As you already know, LinkedIn is the most popular platform for professional networking. You can also use LinkedIn for sales and lead generation. You should learn how to get the most out of features available in LinkedIn to create a perfect lead generation funnel. This lead generation funnel will be able to deliver all the support you need to future-proof your business. Here are some tips that you can follow to achieve it.

Earn the digital trust

You should have a strong profile on LinkedIn to gain digital trust. This is applicable to the company profile you maintain as well as the professional profile you maintain as a business owner. Trust you earn on LinkedIn will help you to overcome numerous barriers. For example, it will help you to improve brand loyalty. On the other hand, the trust you create can help you to get more prospects to interact with what you share on LinkedIn as well.

Develop the perfect network

LinkedIn marketing heavily relies on endorsements and referrals. That’s why it is important for you to develop a perfect network. Understand your audience and keep that in mind to develop a perfect network. Then you will be able to get the most out of your network to take your business to greater heights.

Get strategic inputs

You should also develop the perfect strategy to get the most out of LinkedIn and future-proof your business. You can think about using LinkedIn to discover that perfect strategy. For example, you can see how thought leaders and industry experts post valuable content on LinkedIn every single day. You can think about collaborating with some of the LinkedIn influencers and get them to drive more attention towards your brand.

Combine data with unique insights

It will be possible for you to use business data to drive engagement on LinkedIn. Before you do that, you need to make sure that you are using verifiable data. Then you will be able to gain trust from your target audience, influencers as well as LinkedIn experts. Always keep in mind that LinkedIn is a social network driven by content. Therefore, you will be able to share your own business data on LinkedIn. On the other hand, it is also possible for you to get data from LinkedIn and combine them with your own insights. This will help you to create unique content.

Optimize content accordingly

You shouldn’t just post content on LinkedIn for the sake of doing it. Instead, you will need to optimize the content that you upload to LinkedIn as well. This is applicable to all types of content, such as video, text, and other forms of content. You can do this by making your content useful, reliable, and refreshing.

By following these tips, you can develop that perfect lead generation on LinkedIn. It will help you to future-proof your business.

James Vincent

Co-Owner of Hot Source award winning marketing agency and associate lecturer at University of Worcester


Best tips to stay motivated

In Lifestyle, Business, EntrepreneurshipFebruary 10, 20225 Minutes

Entrepreneurship

“Your talent determines what you can do. Your motivation determines how much you are willing to do. Your attitude determines how well you do it.” -Lou Woltz

Success comes with motivation. We all have heard it a lot but what we all have experienced as well as the lack of motivation at some point in our lives. This article is going to give you the best strategies to stay motivated at your workplace and succeed.

BEST TIPS TO STAY MOTIVATED AT WORK:

Make a To-Do List:

The most important and first thing to do at the beginning of the day is to set up a to-do list. Because you need to remember what tasks are there that you need to do and how much you did accomplish during the day. This list can be finalized in two steps. In the first step write down all the things that you need to do and in the second step, prioritize the tasks according to their importance. This is going to be your first motivation for the day. There are free apps like Google Keep to manage your list.

Set Mini-Goals:

You must have heard this too many times but have you tried applying it to stay motivated? It works!

Of course, your goal is going to be one big project but the trick is to break it down into several small bite-sized goals, set the deadlines for these goals and finish them one by one. This will give you a sense of achievement and will keep you motivated as you will know where you began from and where you are heading next.

Know and Get Inspired:

Have you ever heard about a job/work and got inspired and motivated to try that? That’s right! In the same way, know your impact. Know how many people, including you, are benefitting from what you’re doing and this will automatically motivate and charge you to do your best.

Another similar trick is to surround yourself with people, quotes, books, and a list of your goals for the next 5, 10, or 15 years and let these become the causes of your motivation and inspire you to perform your ultimate best.

Move Away from Your Comfort Zone:

It is only when you step out of your comfort zone that you discover yourself. You get to know who you are, what you can do, and what not.

“I think that’s how you grow, when there’s a moment of ‘Wow I’m not sure I can do this’ and you push through those moments, that’s when you have a breakthrough. Sometimes that’s a sign that something really good is going to happen. You’re going to grow and learn a lot about yourself” says Marissa Mayer of Yahoo fame. Guess doing what you don’t like isn’t always too bad, eh?

Welcome Criticism and Honor Your Wins:

Sometimes, you deliver your work on time without hassle but you feel like learning a better way to do that work. More often than not, this perspective comes from a boss or a mentor as Sundar Pichai, CEO of Google, puts it:

“At some point in your life, you’ve to work with people where you feel a bit insecure. That’s essential because that means you’re working with people who are better than you. If you are too comfortable and secure at what you do that means you aren’t pushing yourself”

Last but not the least, it is very important for you to celebrate your little victories and efforts. Don’t just wait for the big payoff but keep rewarding yourself from time to time for the tiniest goals that you set and achieved.

James Vincent

Co-Owner of Hot Source award winning marketing agency and associate lecturer at University of Worcester


5 Tips when creating a company

In Business, EntrepreneurshipFebruary 10, 20225 Minutes

Entrepreneurship

The first thing we usually do when thinking of creating a company is read books, articles, and watch videos about it. But the problem is that there is way too much information scattered around. And often it contradicts itself.

And if you turn to your people for advice, there will be so many differing opinions that can confuse you. So today, we have outlined the best tips for creating a company in one article.

Following are the most essential tips one should follow when creating a company. It doesn’t mean at all that all you have to do is in this article. But if you miss to follow the following steps, the foundation of your company will stay shaky.

Outline a Detailed Plan

Just like every other human on the planet, I have epically awesome days and days when life just turne against me. And while I can’t stand most self-help (see: tired quotes over stock photography on Instagram), sometimes I need a little pick-me-up. And most of the time, in order to get out of a slump (because my brain leans more into math/science than anything else), I need to drop a logic bomb on my ass.

The most common problem among young entrepreneurs is that they tend to skim through the planning phase. One reason for this is the internet business literature suggesting to follow with a simple plan. However, simple doesn’t have to be brief.

Answer the following questions in your plan when creating a company:

  • How will you overcome the challenges ahead?
  • Which opportunities have you identified?
  • What is your target?
  • What are your goals?
  • How will you measure your goals?
  • What are the deadlines for each goal?

Know your Strengths & Weaknesses

Every businessman or businesswoman has some skills, knowledge, and abilities to take forward a company. But keep in mind that business is a complex process that requires wearing many hats at the same time.

Analyze your strengths and weaknesses intensively so that when the time comes, you have a clear picture of where your focus should be. This way you won’t feel overwhelmed easily.

Network & Build Connections

 

Another thing that you must realize while creating a company is that you can’t lead a company alone. That doesn’t apply to creating a team only but absorbing advice & suggestions as well.

Join groups of people with ideologies similar to you. Look for the people who have been in the industry and listen to their stories intently. Take notes of their failure and successes. Keep doing that and you will have a roadmap for your company soon.

Research your Target Audience

 

 

The most important thing to remember while creating a company is to know your target audience. Survey and research about who they are, what they need, what they wish for, what their struggles are, how you can improve their lives, and at what times you should approach them.

Research about their psychology and think standing in their shoes. Imagine yourself as one of your customers and you will find numerous ways to sell them your product and services.

Create a Healthy work-life balance

Starting a company is no piece of cake. You will have to give in your blood, sweat, and a great deal of time into it. There is a high probability that you would let your work dominate your life. Never do that! Your company can’t survive without you. You are the most imperative pillar to it.

If you fall sick or get depressed, the entire hard work will fall apart. Schedule your time out with friends and family, workout regularly, and recharge yourself to get back to your company.

James Vincent

Co-Owner of Hot Source award winning marketing agency and associate lecturer at University of Worcester