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All, business start-up

7 Steps to Start a Business from Zero

Companies, no matter their size, don’t start on their own. Someone, somewhere, someway, started something that eventually became a profitable entity. We’ve heard all the terms, like crowd funding, venture capital, angel investment, and the list goes on and on. While all these do exist, the majority of businesses are started with very little to no money. The reason people succeed isn’t because of their cash position but because those entrepreneurs had zeal, a vision, and a passion.

In fact, no amount of money guarantees success, even if a business is well-funded from its inception and follows a smart plan in a strategic way, it can still fail. The Edsel is a perfect example. Produced by one of the most successful corporations in the world, the Ford Motor Company, the Edsel rolled off the assembly line from 1958 to 1960. It was, in its day, by far, one of the most advanced private passenger vehicles. It featured such technology as the Teletouch system and had many other creature comforts, as well as plenty of functionality. However, the line failed to the tune of $350 million, an astounding $2.8 billion in today’s dollars.

Follow these 7 Steps to Start a Business with Little to No Money

Failure is a terrific teacher, if you are willing to learn from it. A good lesson to learn and accept early on in starting a business is that money, as the Edsel clearly demonstrates, doesn’t equal success. Incremental growth, accompanied by patience, tempered with realism, does wonders because such a combination requires focus. When you set aside the distant future, you necessarily put the present at the forefront.

…now is the time to have a heart-to-heart with reality. Reality of what? Well, start with yourself. Your experiences, gifts, passion, life goals and areas of weakness. Seriously. Knowing thyself is the first place to start on your trek toward your vision. —Forbes

In other words, you’ve got to use what you have now, and turn your natural talents into marketable products and services, which is the very essence of business. Richard Branson, who has dyslexia, started his entrepreneurial career breeding budgerigars at age 11 and it didn’t work. Neither did his plan to sell Christmas trees. Next, with practically no money, the future billionaire started Student Magazine, which morphed into Virgin Records. He, like many mega-successful entrepreneurs, started with little to no money, and you can do this too, by doing a few simple things:

Do your homework about the market and competition. The reason so many businesses fail is due to misunderstanding the market and not having a clear conception about the competition. Don’t worry if it seems as though the market is flooded, because you can carve-out a niche.
Take small, incremental steps and don’t dive-in. A card table, a favorite spot on the couch, a workbench, or a kitchen are all acceptable places to start a business. When you first begin, do it part time and don’t rack-up expenses. If you commit too much time and/or too much money, you’ll put a lot of undue pressure on yourself and make bad decisions.
Try to build out a niche. This bit of advice really bears repeating. If you find a smart way to separate yourself from the competition, you can build a stronger, more attractive business.
Set small, tangible money and benchmark goals. When you set high goals, you need to do a lot more to reach them and that often leads to failure. When you set small goals, you’re more likely to accomplish them and that makes for a ton of motivation and satisfaction.
Build a responsive, easy to navigate website. You need a presence on the internet, which you probably know. There are very inexpensive and easy to use platforms that will be more than sufficient to get you started.
Get out and network but don’t sell. Your website, though a necessary tool, isn’t going to be a salesperson; but you can be, if you network to become a known quantity and not to sell.

Finally, give yourself permission to make mistakes and don’t make the huge mistake of waiting for perfection to launch your business.

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Business Owners, Pay Attention to Employees Who Bring Bagged Lunches, Because They Usually Share These Impressive Qualities

August 14, 2024 No Comments

Business Owners, Pay Attention to Employees Who Bring Bagged Lunches, Because They Usually Share These Impressive Qualities As a business owner, it’s easy to overlook the small, everyday habits of your employees, but sometimes these seemingly minor details can reveal a lot about their character and potential. One habit that might catch your attention is when employees consistently bring bagged lunches to work. While it might seem like a simple cost-saving measure or a personal preference, employees who take the time to prepare their meals often share some impressive qualities that can be invaluable to your business. That’s right. These individuals may possess bigger, untapped potential. With this in mind, we’ll take a little time to explore why those brown bag lunches might be a sign of the discipline, foresight, and commitment that could make these employees your next top performers. 6 Qualities Bagged-Lunch Employees Usually Possess Okay. You’d certainly notice if a particular team member brings in beneficia new business or implements a different way of doing this or that, greatly increasing productivity. But, there are also smaller, more subtle telltale signs someone might have a lot more to offer. For instance, employees bringing brown bag lunches to work can reveal much about their potential, habits, and mindset. Here are some insights that might be gleaned from this seemingly simple behavior: Discipline and planning. Bringing a brown bag lunch indicates that an employee takes the time to plan their meals ahead of time. This level of foresight and preparation often translates into their work habits, suggesting they are organized, proactive, and capable of managing their responsibilities efficiently. Such employees are likely to be reliable and disciplined, making them strong candidates for tasks that require attention to detail and long-term planning. Financial savvy. Employees who bring their lunch often do so to save money. This behavior shows an awareness of budgeting and a focus on financial responsibility, which can be valuable in roles that involve managing resources or cost control. Their financial mindfulness could indicate a practical, resourceful approach to problem-solving, making them suitable for roles that require fiscal prudence or operational efficiency. Health consciousness. Preparing a brown bag lunch allows employees to control what they eat, often leading to healthier choices. This shows a commitment to personal well-being, which can reflect positively on their overall energy levels, productivity, and ability to handle stress. Health-conscious employees may have the stamina and mental clarity needed for demanding projects, making them strong candidates for roles that require sustained focus and resilience. Self-sufficiency. Bringing lunch from home indicates a degree of self-sufficiency. These employees are not reliant on external sources (like restaurants or cafeterias) for their needs, which can translate into their work ethic. Self-sufficient employees are often independent thinkers who can take initiative and work without constant supervision, making them ideal for leadership roles or positions that require autonomy. Commitment to routine. Consistently bringing a lunch shows a commitment to routine and a structured approach to their day. This can reflect an ability to stick to schedules and follow through on commitments, important traits for any role that requires dependability. Employees with a strong sense of routine are often reliable and consistent, traits that are valuable in roles that require steady performance over time. Focus on productivity. Bringing a lunch means less time spent going out to eat, which can lead to more time focused on work. This indicates that the employee values productivity and may prefer to use their break time efficiently. Such employees may have a strong work ethic and a drive to maximize their productivity, making them valuable assets in fast-paced environments where efficiency is key. While bringing a brown bag lunch might seem like an insignificant, everyday decision, it can offer insights into an employee’s character and potential. Traits like discipline, financial savvy, self-sufficiency, and a focus on health and productivity are all positive indicators that can suggest strong future performance and growth within an organization. Want to Accomplish More? Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do? We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test. You can call us for your free appointment at (602) 541-1760, or, if you prefer,

3 Effective Ways to Beat Zoom Fatigue

March 23, 2021 No Comments

Zoom fatigue?!?! Yes. If you haven’t yet heard, Zoom fatigue is a real thing. The origin of the phrase is obvious. Still, some people are just hearing about it for the first time. Perhaps, because they are experiencing its symptoms. Regardless, Zoom fatigue can be harmful in a number of ways. So, read on to learn how to best deal with Zoom fatigue and what you need to know. What is Zoom Fatigue? Simply put, Zoom fatigue is a phenomenon that causes tiredness, along with worry and burnout. These emotions are due to the overuse of video or virtual communication platforms, most commonly videoconferencing. The symptoms come from excessive amounts of highly intense eye strain. Experts also say people seeing themselves during video chats also causes unnecessary stress and fatigue because their every movement is captured. Do you audibly sigh every time you have to log on to what feels like your thousandth Zoom meeting of the day? You’re not alone. While we’re all more or less used to video calls and meetings being the norm now, the newly coined effect of Zoom fatigue hasn’t gone away. Since working from home is here to stay, video calls are here for the long run too. This makes it incredibly important to find a way to prevent Zoom fatigue from taking over your workday. —Forbes Then, there’s the immobility of videoconferencing. Unlike speaker phone conversations, which are pure audio, people can walk around and think on their feet. But, that’s not the case with video. Lastly, there’s cognition overload, since non-verbal communication interpretation is so much more difficult between parties. All of these can contribute to Zoom fatigue, which leads to negative emotions, as well as poor work production. 3 Effective Ways to Beat Zoom Fatigue Fortunately, there are ways to deal with the digital burnout. If you’re tired of videoconferencing, you are certainly not alone. But, there’s more good news. You can effectively combat the effects of Zoom fatigue by doing one or more of the following: Disable the self-view feature. When you get up in the morning, get ready as you normally do, dressing up as a professional. You’ve done this countless times before and probably continue the habit, even while working remotely. Since you’ve already dressed up and are presentable, there’s no sense in looking in the mirror (or seeing yourself on video). So, turn off the self-view feature, which is one of the single biggest causes of Zoom fatigue. Take regular breaks. Okay, there’s nothing magical about taking breaks. It’s obvious advice. But, it’s also something people forget to do when they’re working virtually because they aren’t in their normal workplace. However, breaks are necessary throughout the day. From time-to-time, take a few minutes to walk around, get outside for a little while, and take regular breaks. Switch communications. If you’re feeling stressed and/or resentful of videoconferencing, then just switch up the way you communicate. Instead of video, use voice conferencing so you have more freedom of movement and can enjoy the benefit of thinking on your feet. What other suggestions do you have to combat Zoom fatigue? Please take a moment to share your thoughts and experiences so others can benefit from your unique perspective. After all, you never know who you’ll help out! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Younger Workers No Longer Want to Become Managers – Here’s How to Get Them Interested Again

December 15, 2023 No Comments

Younger Workers No Longer Want to Become Managers – Here’s How to Get Them Interested Again The corporate world is undergoing a significant shift in employee aspirations. While climbing the corporate ladder and assuming managerial roles were once coveted goals, younger generations are increasingly expressing disinterest in this traditional path to success. This trend poses a challenge for businesses seeking to nurture future leaders and maintain a healthy organizational structure. Understanding the Root Causes: Why Younger Workers Shy Away from Management So, just what is happening and why is it happening? Well, there are a number of possibilities. But, there appear to be several distinct factors that have been contributing to the ongoing and declining interest in managerial positions among younger generations, which include the following: Work-life balance. Younger workers prioritize a healthy work-life balance, often viewing management roles as demanding and time-consuming, potentially leading to burnout and sacrificing personal well-being. Changing work values. Younger generations value autonomy, creativity, and making a tangible impact. Traditional managerial roles may not always align with these values, leading to feelings of dissatisfaction and a lack of fulfillment. Perceived lack of recognition and rewards. Younger workers often perceive managerial roles as offering limited opportunities for growth, recognition, and financial rewards compared to other career paths. Fear of failure. The prospect of taking on increased responsibilities and facing potential failure can deter younger workers from pursuing managerial positions. Lack of role models. Younger workers may also lack visible role models or mentors who can demonstrate the positive aspects of a management career and provide guidance and support. Bridging the Gap: Strategies to Motivate Younger Workers to Move Up the Ladder To address this challenge and encourage younger workers to embrace leadership roles, businesses can implement several strategies: Highlight the positive aspects of management. Emphasize the benefits of management, such as the opportunity to make a significant impact, develop leadership skills, and contribute to organizational success. Promote work-life balance. Demonstrate a commitment to work-life balance by offering flexible work arrangements, encouraging vacations, and promoting a culture that respects personal time. Provide opportunities for growth and development. Offer comprehensive training and development programs that equip younger workers with the skills and knowledge needed for managerial roles. Recognize and reward accomplishments. Foster a culture of recognition and reward, acknowledging and appreciating the achievements of both individual contributors and managers. Create a supportive environment Cultivate a workplace environment that fosters open communication, mentorship, and opportunities for younger workers to learn from more experienced colleagues. Additional Tips for Motivating Younger Employees Beyond addressing the specific concerns surrounding management roles, businesses can further motivate younger employees by: Empowering employees. Provide employees with autonomy and decision-making authority, fostering a sense of ownership and engagement. Encouraging creativity and innovation. Create an environment that encourages creativity, innovation, and risk-taking, allowing younger workers to contribute their fresh perspectives. Providing opportunities for meaningful work. Assign employees to projects that align with their interests and allow them to make a tangible impact on the organization. Offer useful and constructive feedback. Provide regular, constructive feedback that helps employees develop their skills and advance their careers. Promote from within. Demonstrate a commitment to internal promotion, allowing younger workers to see their career path within the organization. By addressing the underlying reasons for younger workers’ reluctance to pursue management roles and implementing strategies to foster a more appealing career path, businesses can revitalize the interest in leadership positions and cultivate a pipeline of future leaders who are both motivated and equipped to take on the challenges and rewards of management. Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you love. Isn’t that why you started your business? We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test. Call us for your free appointment at 6024355474, or send us an email. Or, visit Waters Business Consulting Group to learn more about us and the services we offer.