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6 Foolproof Steps to Launching a Unique Online Business

6 Foolproof Steps to Launching a Unique Online Business

In a market that is saturated and filled with strong competitors, you need to come up with a practical but unique idea for a business. Trying to find a business model that fits your skills, doesn’t make you want to kill yourself at the end of the day, is profitable and has room for development isn’t an easy task.

However, there’s a pattern you may follow which can make things a whole lot easier for you. Starting your own business is a risky move and you’ll need to invest your time, money and yourself to ensure that it works out as planned. If you’re ready to go the distance, you should know it’s worth it.

1. Make Sure There Is Market Demand

Many brilliant minds of the past ages have been a center of mockery because the world wasn’t prepared for them. Let’s remember the most obvious example for this claim – people thought Earth was the center of the universe for very, very long time and to say otherwise was to be labeled as a heretic or madman.

My point is that even if you do have a revolutionary business model or an innovation of some kind in mind, you need to make sure that people are ready for it. Therefore, make sure that there’s a demand on the market that can enable you to develop your startup and work your way up from there.

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2. Budget Distribution

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    Even if you do have a great idea and you can wiggle into the world of business thanks to market demand, you can still end up bankrupt, if you don’t know how to handle your money. As a business leader, you need to be prepared for various outcomes and you need to think several steps ahead and count various different factors into your equation, so you’re practically able to predict the future of your business.

    Startups are all about prioritizing – there’s no room in the budget for nothing more than necessary. Other than covering paychecks, your budget also needs to be distributed to utilities, rent, inventory, and promotions.

    3. Get together a Professional Squad

    Team assembly might be the most troubling step here. If you’re starting out with an acquaintance or perhaps a friend, it might be easier for you because you’re already familiar with someone’s skills and abilities – you have more than just an unfamiliar resume and a stranger’s word backing it up.

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    The fact you’re only just beginning with your business implies that you don’t have enough money to pay for experts to work for you. The chances are you’ll employ young people who lack experience but compensate that by being eager to work and earn money.

    Your best chance is to build a small team as soon as possible and transfer your work ethics to them – values you share with them will be the glue that holds you together through both the good things and the bad. On the other hand, a lack of those values will create anarchy, lack of authority and team spirit, which is one certain path to imminent bankruptcy.

    4. Create a Unique Proposition

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      Experts claim how the most important thing to build your business around is differentiation. Let me draw you a little picture; when a person who is in need of a service they have never used before start browsing for a proposal, they won’t be able to tell you apart from your competitors. You need to give them a strong reason to remember you and find you unique.

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      First of all, you need to strive towards profiling your ideal customer. Once you figure out their characteristics, the next step is to fashion your business around them. Applying this strategy to your business will enable it to grow in the right direction from the very beginning, which is quite efficient. If you create a functional version of your business in the beginning, it won’t be necessary for you to make big changes later.

      5. Take Your Online Presence Seriously

      Even if you already own a brick-and-mortar business, launching your business online is paramount – if you’re not present on the internet, you don’t exist. Your website is your business card and everyone who gets there by browsing online will make judgments based on what they see.

      When making a website, you need to stick to the current trends, but don’t try to implement all of them because that can only create a mess. The selection of design options you decide to go with need to be in accordance with what you do and be capable of showcasing your offer in the finest light.

      However, it’s not just what’s on the surface but also what’s beneath it. When trying to decide about your tech support, you need to do thorough research in order to select a good hosting option based on reviews and make sure it fits your budget. Be very confident that your visitors won’t waste their time trying to load a single page of your website if it takes too long, and be sure that they will turn to your competitor in a matter of seconds.

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      6. Tweak according to Feedback

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        Social networks are your most trustworthy partner when it comes to business development. Managing your profiles on these platforms is something that needs to be handled carefully; these accounts will be a way for your audience to reach out to you, leave their comments and share you with the rest of the world.

        The feedback you receive through these mediums should be most precious to you, whether it be a praise, suggestion or a simple complaint – you should look at reviews as if they were pointers for further changes. Even the finest tweak you plan on making should be based on profiling your ideal customer and trying to meet their needs and possibly predict them.

        Following these steps will enable you to transfer from a startup to a full-fledged small business quicker – each of them is a growth hacking method based on sound business logic. One last piece of advice; you should take risks only when necessary, but don’t hesitate from being brave enough to follow your gut when you’re most certain that’s the right thing to do.

        Featured photo credit: https://www.pexels.com/u/kaboompics/ via pexels.com

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        Ivan Dimitrijevic

        Ivan is the CEO and founder of a digital marketing company. He has years of experiences in team management, entrepreneurship and productivity.

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        Published on March 25, 2019

        How to Find New Growth Opportunities at Work

        How to Find New Growth Opportunities at Work

        Career advancement is an enticement that today’s companies use to lure job candidates. But to truly uncover growth opportunities within a company, it’s up to you to take the initiative to move up. You can’t rely on recruiter promises that your company will largely hire from within. Even assurances you heard from your direct supervisor during the interviewing process may not pan out.

        But if you begin a job knowing that you’re ultimately responsible for getting yourself noticed, you will be starting one step ahead.

        Accomplished entrepreneur and LinkedIn Co-Founder Reid Hoffman said,

        “If you’re not moving forward, you’re moving backward.”

        It’s important to recognize that taking charge of your own career advancement, and then mapping out the steps you need to succeed, is key to moving forward on your trajectory.

        Make a Point of Positioning Yourself as a Rising Star

        As an employee looking for growth opportunities within your current company, you have many avenues to position yourself as a rising star.

        As an insider, you’re able to glean insights on company strategies and apply your expertise where it’s most needed. Scout out any skills gaps, then make a point to acquire and apply them. And, when you have creative ideas to offer, make it your mission to gain the ear of those in the organization who can put your ideas to the test.

        Valiant shows of commitment and enterprise make managers perk up and take notice, keeping you ahead of both internal and external competitors.

        Employ these other useful tips to let your rising star qualities shine:

        1. Promote Your Successes to Your Higher-Ups

        When your boss casually asks how you’re doing, use this valuable moment to position yourself as indispensable: “I’m floating on clouds because three clients have already commented on how well they like my redesign of the company website.”

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        Tell your supervisors about any and all successes. Securing a new contract or signing a new customer should be a cause for celebration. Be sure to let your bosses know.

        2. Cultivate Excellent Listening Skills

        Listen well, and ask great questions. Realize that people love to talk about themselves.

        But if you’re a superb listener, others will confide in you, and you’ll learn from what they share. You may even find out something valuable about your own prospects in the company.

        If others view you as even-minded and thoughtful, they’ll respect your ideas and, in turn, listen to what you have to say.

        3. Go to All Office Networking Events

        Never skip the office Christmas party, your coworker’s retirement party, or any office birthday parties, wedding showers, or congratulatory parties for colleagues.

        If others see you as a team player, it will help you rise in your company. These on-site parties will also help you mingle with co-workers whom you might not ordinarily have the chance to see. For special points, help organize one or two of these get-togethers.

        Take the Extra Step to Show Your Value to the Company

        Managers and HR staff know that it can be less risky – and a lot less costly — to promote from within. As internal staff, you likely have a good grasp of the authority structure and talent pool in the company, and know how to best navigate these networks in achieving both the company’s goals and your own.

        The late Nobel-Prize winning economist, Gary Becker, coined the term “firm-specific,” which describes the unique skills required to excel in an individual organization. You, as a current employee, have likely tapped into these specific skills, while external hires may take a year or more to master their nuances.

        Know that your experience within the company already provides value, then find ways to add even more value, using these tips:

        4. Show Initiative

        Commit yourself to whatever task you’re given, and make a point of going above and beyond.

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        Position yourself so that you’re ready to take on any growth opportunities that present themselves. If you believe you have skills that have gone untapped, find a manager who will give you a chance to prove your worth.

        Accept any stretch assignment that showcases your readiness for advancement. Stay late, and arrive early. Half of getting the best assignments is sticking around long enough to receive them.

        5. Set Yourself Apart by Staying up on Everything There Is to Know About Your Company and Its Competitors

        Subscribe to and read the online trade journals. Become an active member in your industry’s network of professionals. Go to industry conferences, and learn your competitors’ strategies.

        Be the on-the-ground eyes and ears for your organization to stay on top of industry trends.

        6. Go to Every Company Meeting Prepared and Ready to Learn

        A lot of workers feel meetings are an utter waste of time. They’re not, though, because they provide face-time with higher-ups and those in a position to give you the growth opportunities you need.

        Go with the intention of absorbing information and using it to your advantage — including the goals and work styles of your superiors. Respect the agenda, listen more than you speak, and never beleaguer a point.

        Accelerate Your Career Growth Opportunities

        A recent study found that the five predictors of employees with executive potential were: the right motivation, curiosity, insight, engagement, and determination. These qualities help you stand out, but it’s also important to establish a track record of success and to not appear to be over-reaching in your drive to move up in your company.

        Try to see yourself from your boss’s position and evaluate your promote-ability.

        Do you display a passion and commitment toward meeting the collective goals of the company? Do you have a motivating influence with team members and show insight and excellence in all your work?

        These qualities will place you front and center when growth opportunities arise.

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        Use these strategic tips to escalate your opportunities for growth:

        7. Find a Mentor

        With mentorship programs fast disappearing, this isn’t always easy. But you need to look for someone in the company who has been promoted several times and who also cares about your progress.

        Maybe it’s the person who recommended you for the job. Or maybe it’s your direct supervisor. It could even be someone across the hall or in a completely different department.

        Talk to her or him about growth opportunities within your company. Maybe she or he can recommend you for a promotion.

        8. Map out Your Own Growth Opportunity Chart

        After you’ve worked at the company for a few months, work out a realistic growth chart for your own development. This should be a reasonable, practical chart — not a pie-in-the-sky wish list of demands.

        What’s reasonable? Do you think being promoted within two years is reasonable? What about raises? Try to inform your own growth chart with what you’ve heard about other workers’ raises and promotions.

        Once you’ve rigorously charted a realistic path for your personal development within the company, try to talk to your mentor about it.

        Keep refining your chart until it seems to work with your skills and proven talents. Then, arrange a time to discuss it with your boss.

        You may want to time the discussion around the time of your performance review. Then your boss can weigh in with what he feels is reasonable, too.

        9. Set Your Professional Bar High

        Research shows that more than two-thirds of workers are just putting in their time. But through your active engagement in the organization and commitment to giving your best, you can provide the contrast against others giving lackluster performances.

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        Cultivate the hard skills that keep you on the cutting edge of your profession, while also refining your soft skills. These are the attributes that make you better at embracing diverse perspectives, engendering trust, and harnessing the power of synergy.

        Even if you have an unquestionably left-brain career — a financial analyst or biotechnical engineer, for example — you’re always better off when you can form kind, courteous, quality relationships with colleagues.

        Let integrity be the cornerstone of all your interactions with clients and co-workers.

        The Bottom Line

        Growth opportunities are available for those willing to purposely and adeptly manage their own professional growth. As the old adage says,

        “Half of life is showing up.”

        The other half is sticking around so that when your boss is looking for someone to take on a more significant role, you are among the first who come to mind.

        Remember, your career is your business!

        More Resources About Ever-Growing

        Featured photo credit: Zach Lucero via unsplash.com

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