Tap Into Your Own Talent

The Care And Feeding Of Your Future, Without The Soap Opera Drama And Trauma
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When I was searching for a career, my dad gave me advice I still follow today: Find what you do brilliantly, and do more of it. Over the years, I've learned that this philosophy enables you to find your niche and discover unique methods to achieve your goals.

As an entrepreneur, you often jump at any chance to expand your business. However, your business's biggest and best asset is you. It's your expertise that makes your business unique and leads to the most efficient growth opportunities.

The owner of a jewelry store frequently updated the gems she carried but was never able to dramatically increase her sales. She thought her clientele might buy a broader line of products, so she added religious statues to her store. But ultimately, her lack of familiarity with these items caused the strategy to fail.

On her second try at expansion, she decided to delve further into her core area of specialization. She bought jewelry designed and made by local artists. It paid off. Her current customers and her new artists spread the word about her updated business, and her store became a shopping destination.

Creating product extensions within your area of expertise expands your customer roster. Increase your chance of success by focusing on what you do best -- and do more of it.

1. Tap into the innate power behind what makes your business unique. Growing your business based on your inherent strengths allows you to discover dynamic expansion possibilities. Use your intuition, and ask your employees and colleagues for help on how to rework or redesign your core product to appeal to a broader market. For the jewelry store owner, it was her expertise in gems that allowed her to sell the stones in multiple ways.

2. Shift from selling to actively listening. Become relentlessly focused on broadening the appeal of your core product by engaging your customers. What new uses have they discovered that may not have occurred to you? Ask them to be direct and truthful, and keep a log of their suggestions. Tapping into this rich vein of recommendations allows you to jump-start new growth opportunities.

3. Convert the benefits customers share into product features. Use the recommendations offered by your customers to construct new uses for your core product. Regularly reinventing your product with fresh benefits keeps your customers interested and excited. It was Arm & Hammer's customers who informed the company of alternative uses for its top-selling baking soda product. The company has now expanded its core product into numerous other uses, including cleansers, deodorizers and beauty products.

4. Gain loyalty by thanking people creatively. Thanking people for sharing their ideas deepens customer loyalty. It also increases word-of-mouth advertising for your business. A sandwich shop owner who was famous for his use of cheeses decided to name his weekly specials after customers who made distinctive recommendations. They brought their friends and families into his store to see their names and pictures up on his "Say Cheese" board.

Keep your network of customers and colleagues informed of your product enhancements. Your enthusiasm will encourage them to tell others about your business. And more important, it will inspire them to share even more product-transformation ideas with you.

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To People Who Want Your Own Business – But Don’t Know Where To Start

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Being your own boss is a dream that hundreds of thousands of people aspire to every year. But out of the many people that start a business each year, approximately eighty percent fail. But, that also means that twenty percent of the dreamers build a successful business. Whether you want to open a family business, or you intend to build a chain of stores, there are some common elements that are necessary for success.

A Business Plan is necessary for every business no matter how large or small. This plan should include such things as a description of your business and your plan for its future success. Operating without a business plan would be like starting on a vacation without knowing where you were going. You would make it somewhere, but it might not be where you wanted.

A good business plan is written as a guide for your business. List what your objectives are; are your business objectives only to make a profit, or are you interested in long term expansion. These are questions to ponder.

Your business plan should include a marketing plan. How will your customers know that you are there? What types of advertising are best for your business? Advertising rates can vary widely depending on which media you choose to use. Newspaper advertising may be successful for one promotion, but not for others. One business owner that I know created a very expensive radio advertising campaign during a basketball tournament to advertise a clothing store and did not do very well with the promotion. Other times, I have known radio campaigns that did very well. The best way to “get the word out” will vary from location to location.

Be realistic. Your competition is a major factor to think about when considering opening a business. Perhaps there are too many stores that sell the same items that you want to sell. Visit the businesses that are going to be your competition; or have others visit them and report back to you. You may learn a lot from what others are doing. You may also learn what things they are doing well and what things that you can improve. Every person has been in a business and after leaving thought about things they would do if the business were theirs.

Opening Capital. How much money you will need to get started is something that is often under estimated. I would suggest that you estimate everything that you can think of that is necessary and at least double it. It may not take that much, but I have found that it is better to be over capitalized, than to be under funded. And, you will always have expenses that you forgot.

Finally, find out what your potential customers want. The adage “If you build it, they will come,” is not necessarily true. If you are selling something that customers in that area don’t need or want, the likelihood of success is minimal. Having a clothing store that specializes in men’s suits would not seem to be a good idea in a rural farm area. However, having a clothing store that sold jeans and overalls might do very well in that area. Ask yourself questions. If you do not purchase items very often that you are considering selling, chances are that your potential customers will not either.

Do your homework. Opening a business is hard work and taking shortcuts on your research will only hurt you in the long run.

And Do Not Give Up. There will be plenty of difficult times in the beginning. But if you persevere, perhaps you will be one of the twenty percent of the businesses that succeed and prosper. It will feel good to be your own boss and you will decide that it was well worth the headaches.

Article Source: http://www.articlecube.com

Paul Taylor is a business owner that helps other business owners and entrepreneurs locate wholesale distributors and dropshippers. Visit his website www.WholesaleMap.com" target="_blank">www.WholesaleMap.com for information about wholesale sources or opening a business.

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Top 10 Things I Had to Learn on the Road to Full-Time Self-Employment

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As we wind down the year, I know many of you are considering your career directions and setting some resolutions to launch your own ventures in 2007. Allow me to give you some food for thought from the other side of that transition. Going from over a decade of salaried work in a licensed profession where I had a clear role and status to full-time self-employment in a profession that is a bit like the Wild West was not without it's challenges. If you are an entrepreneur or considering making the leap, here are a few tips I can offer you from my own insights and dope slaps along the way.

1. Admit it when you need help and then ask for it. Pay for it if you have to. Stubborn independence is not an asset when you are stuck.

2. Accept help and support without worrying that people will think you less of you if you aren't a 100% Self-Made Success. There is no such thing as a successful person who was not given help along the way.

3. Don't overplan. Once you start moving, new energy, new people and new opportunities always show up. You may even discover talents that were previously dormant. Leave some room for synchronicity.

4. Develop work habits that bring out your best. It may take a while to shed old habits and the remnants of burn out. Be patient and persistent with yourself and make sure you don't just substitute one stressful job for another. Experiment with what work flow is best for you.

5. You don't have to catch every ball thrown at you. If you are working from home, it does not mean your schedule is free and that you are on call to fill everyone else's needs. Know the difference between a business and a hobby.

6. Take a look around you once in a while. One's environment is a very strong, clear reflection of your overall life balance. Mix business and pleasure. Your work should support and energize you, not drain and consume you. Not sure if you are balanced? Look around you and take note of areas that are being neglected and make a plan to handle them.

7. Just because you are good at something doesn't mean you ever really enjoyed it. It's natural to gravitate toward our strongest skills, but they may just be overworked muscles. No one likes feeling incompetent, but if there are skills and talents you would like to explore, make it a priority to devote time to developing them.

8. Don't let small stuff serve as a distraction, you will fool no one. We are always making choices, and what we choose to tolerate are the most powerful choices we make in determining how high we will reach in life. Handle the little stuff and be a good gate keeper before clutter accumulates. You may feel like you are busy but is it with the right stuff? If you were on trial for running your business, would you be convicted?

9. You won't do it exactly like anyone else. Don't assume that all the experts know the secrets to your success. Study good models but listen to your gut.

10. Take care of yourself, you are your greatest asset. People are attracted by the person, not the message. You will succeed when you walk the talk because a powerful life is the greatest attractor.

Need help moving from insight to integration and implementation of these concepts? Visit Wellspring Coaching.

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