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Startups: 3 Business Mistakes You Need to Avoid

Starting a new business is an exciting but busy time. Your to-do list is as long as your arm, and unfortunately, you only have a limited number of hours each day to achieve them. It can be overwhelming, but you need to have the discipline and resilience to carry on and make an impact.

New entrepreneurs are vulnerable to making the same mistakes time over, and so you need to be vigilant that you don’t fall into the same trap. Here are three mistakes that you need to avoid.

  1. Not Understanding the Value of Money

Startups invariably have limited cash flow, and that means that money is at the forefront of every decision being made. New entrepreneurs typically fall into one of two camps: those that spend money freely to make more money and those that spend the bare minimum. You must understand the value of your money. Read more »

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How to Create a Start-Up in Style

Contributed article in our entrepreneurial series. Enjoy! – Kimberly

Sometimes a little style, confidence and razzmatazz is just what’s needed to launch a new business into a prosperous future. It’ll show off your credentials and will cast away any lingering doubts or worries, instead investing you and your team with a confidence that may well lend itself to the first stages of opening a business up to new, competitive markets. This article takes a look at some of the best ways to start-up in style, using the invested money you’ve got to position yourself squarely in your industry without any hint of weakness or insincerity.

Launch Party

Every promising new business deserves a launch party, and yours should be no different. After all that preliminary work - most of it fairly dull paperwork - to establish your business as a trader, your launch party is a celebration of what you’ve achieved so far as well as a momentum-builder for the immediate future, filling everyone connected with the business with hope and positivity. Buy some bubbly and get some nice nibbles organized and prepare to bask, just for one evening, in the preliminary successes of your business. Read more »

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6 of the Most Important Components of an Effective Leader

Contributed article in our leadership series. Enjoy! – Kimberly

Every great business needs a great leader, but what is it exactly that makes a leader great?

Firm but Fair

Any truly great leader must be able to strike a balance when dealing with their subordinates. In particular, it is important that you always make your workers aware when they make mistakes, as this is the only way that they will learn. However, your role cannot simply be to hand out work and critique the results. You have to mix constructive criticism in with compliments and acknowledgment of their strengths and achievements.

If you lean too heavily in either direction on this, you will find that you quickly have a demotivated workforce on your hands. As their leader, it is up to you to ensure that the various components of your business are acting in harmony. Read more »

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How to Prepare for Leadership Positions

Contributed article in our leadership series. Enjoy! – Kimberly

With several years of professional experience under your belt, a time will come when you feel you need to take your career to the next level and assume a leadership role in the organization you are working for.

This is when you now understand the complexities of the business and you have grown in your career to feel ambitious enough to lead other people. Of course, you need to back up your ambitions with a history of stellar performance otherwise no one will take you seriously. Even if you rise to the level you want, your subordinates won’t give you the respect that the office you hold deserves.

You need prepare well before you assume leadership roles.

Attitude Adjustment

Start working on your attitude if you want to be a leader. Attitude is the first signal that you are ready for the altitude. Do you sulk when given roles beyond your job description? If yes, then you need to change your attitude.

Does your boss know that he/she can assign you tasks and trust that you will complete them with minimal supervision? Do things that bothered you before; like impromptu tasks no longer bother you? In fact, you even find yourself more flexible these days and somehow understand that the only constant thing is change. If you no longer take last minute requests and disruptions from your boss personally you are well on your way there. Read more »

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4 Ways To Transform Your Team From Good To Great

Contributed article in our leadership series. Enjoy! – Kimberly

Being the boss is a difficult task that takes hard work and dedication. Maybe you’re someone who’s been struggling to keep your team motivated, or simply want your staff to try harder.

Telling them what to do and how they can be better doesn’t always work. You need a plan in place for transforming your team from good to great and allowing them to showcase their true talents in the workplace. While it’s going to take a little extra work on your part, it’ll be worth it in the end when they’re going above and beyond and surprising you with their improved outputs.

Never Stop Challenging Them

Rewards are great, but you also need to provide your employees with work that makes them think and use their skills. One way to shake up your normal routine is to challenge your team to breaking free from one of the many life-sized Escape Rooms. They’ll need to work together to solve mysteries and puzzles and won’t get anywhere unless they’re communicating and coming together as a team. Put them to the test inside and outside the office, and you’ll soon see each of them truly start to shine. Read more »

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How to Improve B2B Customer Relationships

Contributed article in our business series. Enjoy! – Kimberly

Business-to-business relationships can be filled with many challenges including multi-channel sales conflicts, delivery difficulties, and configuration issues, but they remain the key to the success of many enterprises. Solid B2B relationships can ward off advances from competitors and provide a firm foundation for you company to continue to thrive.

Here are a few tactics your company can use to nurture and develop your B2B customer relationships.

Constantly re-imagine and refine your B2B relationships

The world of business doesn't stand still, and neither should you. No matter how good your B2B relationships are, the key to continued success is to be constantly thinking about ways you can improve the situation. The first step in achieving this goal is to develop a clear understanding of exactly what your brand represents to your B2B partners. If you are known primarily for an area such as high quality or customer support, this then points to other areas in which you can introduce improvements. Read more »

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Ways To Finance Your Business

Contributed article in our entrepreneurial series. Enjoy! – Kimberly

The number of people who are choosing to start their own businesses and work for themselves is growing and every year more and more entrepreneurs are choosing to leave their current employment and try something for themselves. Some will fail, but some will succeed and never giving up is an appropriate attitude to have in terms of looking forward to the future of your business.

One thing that all companies need, however, no matter how big or small, no matter how new or old, is financing. Although it’s possible to start a company with little to no money, if you really want to make a splash and be successful more quickly, you will want to have some form of capital behind you. If you’re currently hoping to start a business (or expand an existing one) and you’re wondering where you might be able to find the money to do so, there are a variety of different ways that you can raise the cash and become the business owner and leader that you want to be. Read more »

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What it’s Like to Work in a Successful Non-Profit Organization

Contributed article in our career series. Enjoy! – Kimberly

Receiving an MPA online or Master of Public Administration is a rewarding achievement that can lead to a career of tremendous public service. Many of us were taught to go to college to work for a business solely for the purpose of making money. While there is nothing wrong with the desire to make money, MPA's, on the other hand, are pressed for the desire to make a difference in the community and the world. There are many myths and taboos around the idea of working for a successful Non-Profit Organization that we will cover in this article.

Yes, you get paid to work!

A common misconception is the belief that people show up to work every day, out of the joy of their hearts, but don't make any actual money when working with a Non-Profit. Everyone needs to pay their bills and feed their families, which is a reality of life, and this is simply not the case. Read more »

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Taking the Risk out of OTC Markets

Contributed article in our financial series. Enjoy! – Kimberly

Trying to make money in any market entails a certain amount of risk. That can come from buying a blue chip stock on the New York Stock Exchange or from trading on OTC markets. The difference always is the nature and size of the risk. So being able to manage risk is vitally important as a trader or as an investor. It is arguably the most vital skill to learn when you wade into the financial markets.

Being a trader and being an investor are two very different things. Traders, even though they are smart and focused and diligent, live for the moment. They are going to make money by pouncing on opportunity, never letting the trend get away. Investors, on the other hand, tend to be much more methodical. Which is a good way to make small profits over the long-term, setting you up for success in your golden years. Read more »

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5 Things That Will Destroy Your Small Business in a Flash

Contributed article in our entrepreneurial series. Enjoy! – Kimberly

According to many entrepreneurs, running a successful business can be challenging and very exciting at the same time. When due diligence is observed, financial gains from the startup are almost guaranteed.

Unfortunately, some business owners end up choking the business unconsciously by doing some things that are unsuitable for the organization. In most cases, this is as a result of insufficient experience which is a conspicuous characteristic of new entrepreneurs. Making slight mistakes in management can be corrected if they are discovered early enough and you can recover in a short time. Read more »

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