Thinking of Hiring a Family Member for Your Small Business? Here’s Why You Should Think Twice

For new small business owners and emerging entrepreneurs, self-promotion is a crucial skill. It’s about effectively marketing your products or services without coming across as self-centered and/or obnoxious. Mastering this art can help you build brand credibility, grow your customer base, and create lasting relationships with your audience. Clever Tips Entrepreneurs Can Use to Master the Art of Self-Promotion In today’s competitive marketplace, it’s more important than ever for entrepreneurs to know how to effectively promote their products and services. However, self-promotion is a delicate art. If you’re too pushy or overly salesy, you’ll likely turn people off. But, if you don’t promote yourself enough, you’ll never get your business off the ground. In other words, striking a balance is key. So, with this in mind, here are seven clever tips that entrepreneurs can use to master the art of self-promotion: Be authentic. People can spot a fake a mile away. So be yourself and let your personality shine through in your marketing materials. This will make you more relatable and trustworthy to potential customers. Focus on the benefits. Don’t just tell people what your product or service is. Tell them what it can do for them. What problems will it solve? How will it make their lives better? Use storytelling. People love stories. So use them to connect with your audience and make your products and services more memorable. For instance, tell stories about how your product or service has helped other people. Be social. Get involved in social media and online communities related to your industry. This is a great way to connect with potential customers and build relationships. Give back. Get involved in charitable causes or volunteer your time to a worthy organization. This will show potential customers that you’re a good person who cares about others. Be consistent. Don’t just promote yourself once and then disappear. Be consistent with your marketing efforts so that people are constantly reminded of your brand. Be patient. It takes time to build a successful business. Don’t expect overnight results. Just keep promoting yourself and eventually, you’ll start to see results. Additionally, you can also offer value through original content. Instead of bombarding your audience with sales pitches, focus on delivering value through content marketing. Create interesting blog posts, videos, podcasts, or infographics that educate, entertain, or solve problems for your target audience. This positions you as an authority in your field. Following these tips will help you master the art of self-promotion without being annoying or presumptuous. Just remember to be authentic, focus on the benefits, use storytelling, be social, give back, be consistent, and be patient. For even more ideas, here are some additional tips that may be helpful to small business owners: Use visuals. People are more likely to remember something if they can see it. So use high-quality images and videos in your marketing materials. Keep it short and sweet. People have short attention spans, so make sure your marketing messages are clear and concise. Proofread everything. Typos and grammatical errors will make you look unprofessional. Track your results. So you can see what’s working and what’s not, it’s important to track your results. This will help you optimize your marketing efforts over time. Effective self-promotion is an art that entrepreneurs can master by building a strong online presence, offering value through content, leveraging social proof, networking strategically, and being authentic and transparent. By following these clever tips, you can promote your products or services while maintaining integrity and authenticity, ultimately building a loyal customer base and achieving long-term success. Interested in learning more about business? Then just visit Waters Business Consulting Group to learn more about us and the services we offer. You can phone 602-435-5474 or send us an email.

Starting a new business is an exciting venture, but it’s important to be aware of the risks involved. According to research, about 20% of new businesses fail in their first year, and about 50% fail within five years. While there are many factors that can contribute to business failure, some are more common than others. Big Mistakes New Entrepreneurs should Avoid The numbers above aren’t the only ones that are out there. Other studies reveal the new business failure rate is as high as 75% (depending on how “failure” is defined.) However, most findings agree fewer than half will survive long enough to celebrate their fifth year in business. …being an entrepreneur and founding a successful startup is difficult. It’s a long and difficult road, and you will make mistakes, regardless of how hard you try not to. In fact, there are a few common mistakes that entrepreneurs make, especially during their first time attempting to start a business. Thankfully, the key to mitigating risk from those mistakes, and hopefully avoiding them altogether, is understanding as much about them as possible. —Forbes.com What’s more, of the less than half that do make it to their fifth year, a mere 33% of those entities will go on to celebrate their tenth year in business. So, let’s take some time to explore the most common reasons new businesses go broke and how entrepreneurs can avoid failing. Lack of Market Research One of the most common reasons new businesses fail is a lack of market research. It’s important to understand the needs of your target audience, as well as the competition, in order to create a successful business. Entrepreneurs who skip this step may find that their product or service is not in demand, or that they are unable to compete with established businesses in the industry. To avoid this mistake, conduct thorough market research before launching your business. This may involve surveys, focus groups, or other methods of gathering feedback from potential customers. By understanding the needs of your target audience and the competition, you can create a business that is more likely to succeed. Poor Financial Planning Another common reason new businesses fail is poor financial planning. Entrepreneurs may underestimate the costs involved in starting and running a business or fail to secure adequate funding to cover these costs. Additionally, some entrepreneurs may overspend on non-essential items, such as fancy office spaces or unnecessary equipment. To avoid this miscalculation, create a detailed business plan that includes financial projections and a budget. This can help you estimate the costs involved in starting and running your business, as well as identify potential sources of funding. It’s also important to keep track of your expenses and income and to adjust your budget as needed. Lack of Marketing and Branding Even if your product or service is high-quality, it’s important to effectively market and brand your business. Entrepreneurs who fail to do so may find that they are unable to attract customers or establish themselves as a reputable business. To avoid this blunder, create a marketing plan that includes branding, advertising, and other promotional efforts. This may involve creating a logo and website, networking with potential customers and industry professionals, and investing in online and offline advertising. Poor Management Effective management is key to the success of any business. Entrepreneurs who lack management experience may struggle to make important decisions, delegate tasks, or create a positive company culture. Additionally, entrepreneurs who try to do everything themselves may become overwhelmed and burned out, which can negatively impact the business. To avoid these missteps, hire experienced managers and delegate tasks effectively. It’s also important to create a positive company culture that promotes productivity, teamwork, and employee satisfaction. Inflexibility Finally, entrepreneurs who are unwilling or unable to adapt to changing market conditions may struggle to keep their businesses afloat. This may involve being unwilling to pivot the business model, invest in new technologies, or adjust pricing and marketing strategies. To avoid this foil, remain open-minded and adaptable. This may involve regularly monitoring market conditions, soliciting feedback from customers, and being willing to make changes when necessary. As we all know, starting a new business is a risky endeavor, but by avoiding common mistakes and implementing effective strategies, entrepreneurs can increase their chances of success. What other mistakes would you include and warn entrepreneurs about? Please take a few brief moments to share your experiences and more so others can benefit from your input! Interested in learning more about business? Then just visit Waters Business Consulting Group.