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6 Things You MUST Have In Place Before Starting A Business

Before you begin any business you want to be absolutely sure it has the potential to be successful, right? It doesn’t matter if it’s a big corporate business, a clothing boutique, a coffee shop or an MLM business. If you want to be sure there’s a chance for success, make sure you have six basic things in place, starting with these three:

  1. The Problem: Before you start your business, make sure there’s a problem in the area you’re servicing. I know, it sounds somewhat counter-intuitive, but the truth is, unless there’s a problem, there’s no need for your business. Selling 3 armed T-shirts is a very cool idea, but unless there are a lot of three-armed people wanting t-shirts, there isn’t really a problem that you’re solving, right? Take a few minutes right now to identify the actual problem your industry/business is solving.
  2. The Solution: How is your specific business solving this specific problem? Why do you have a coffee shop on that particular corner? What problem are you solving there that nobody else is? How is your specific vitamin line solving a specific problem that others aren’t solving? How is your solution unique and innovative? How does it make you stand out from the crowd?
  3. The Demand: Are people actually actively seeking a solution for the problem you’re trying to fix? You may have the most amazing long-distance program, but if no one is actually looking for an alternative to what they have (sometimes the bother of switching is more than the new program is worth!) there’s no demand, and you will fail.

It’s tough, when you’re all excited about your new business venture, to listen to reason and work through these questions, but if you don’t do it right from the start, you’ll find yourself wasting unbelievable amounts of time and money to get your dead horse into a race it can’t win. Make sure you have the answers, and make sure you can verify that you’re being completely objective with your answers. Run them by someone else before you commit any time or money to setting it all up.

Once you know you are solving a high-demand problem, you need to look to the next 3 business fundamentals:

  1. Stand Out: unless you are truly and amazingly unique, you must find a way to stand out from the crowd. How is your coffee shop different from the other Starbucks copy-cats out there? How are your vitamins unique?
  2. Offer Exceptional Value: If you’ve managed to stand out tell me how you’re better? What exceptional value do you add to the equation? Why would I want your insurance over my other options? Why should I shop in your boutique instead of Walmart? And remember, it’s not always about price. What is so valuable about what you’re offering that I will do whatever it takes to come to you instead of going to someone else? What makes you attractive to me?
  3. Communicate: If the first two are in place, how are you communicating that message? How is your message so strong and compelling that it drowns out your competition? How does it single me, your ideal customer, out from the crowd of advertising messages and get me to listen to you, specifically? How does your message “call my name” as it were? Can you explain what you do to someone else quickly and succinctly in a way that compels them to ask for more information?

If all six elements are in place, you are well on your way to creating a business success. If anything is missing, you need to get to work on that right away!

Top 5 Reasons Why Online Businesses Fail

The world of internet businesses is fairly competitive. Regardless of your niche, there is plenty of competition to keep any person busy. Thousands of online businesses fail every day because website owners do not take the right steps to make their site attractive and easier to find than the competitions. There are five main reasons why online businesses fail.

Lack of SEO
In order for any business to be successful on the internet it needs to be optimized for search engines to find it. SEO is the simple process indexing keywords onto your website pages so that it will be targeted to consumers who search one of those keywords in popular search engines. Search engine optimization is best done by a professional or using a professional program.

No Social Media
Being able to connect with a business via social media sites such as Twitter, Facebook and LinkedIN is something that all consumers prefer. It puts access to new products, information and promotions right at their fingertips. Online businesses that want to succeed need to utilize social media sites to increase their web presence. Luckily, there are a variety of automation programs that will post updates for you so that you do not have spend precious time during your day keeping in touch with the masses.

Poor Layout
Everything about your website matters to the viewer. Businesses have just a few seconds to captivate the viewer and get them to stay on the site longer. If your website looks cheaply made or unorganized, then the viewer is going to leave. Be sure that your website has a professional appearance. If you are unable to design one yourself, hire a web design team.

Limited Backlinks
Creating backlinks is one of the many ways which businesses boost their rankings in search engine results. There are several ways to do this including link exchanges with other sites and adding resource boxes to articles submitted to directories. In order to generate the most traffic to your business you need to rank high in search engine results, otherwise the site will go unnoticed.

Poor Content
Regardless of what type of website you have, consumers expect to find content that is informative for them to read. Even a sales-only online business should have information relating to the products or services for consumers to read. This is one of the ways that you help visitors stay on your website longer. If you are unable to write your own informative content, consider outsourcing to a qualified writing company.