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How To Use The Power Of Networking To Expand Your Startup

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There is an old saying: “If you want to go fast, go alone. If you want to go far, go with others. This caption best suits for the entrepreneurs who use networking to expand their startup business.
Business networking is a way to expand your knowledge, learn from the success of others, meet new clients and tell others about your startup business.
Here are some tips to ensure that networking yields the desired results for your startup company.

1) You make good connections

Ultimately it is not what you know, it is about who you know. This is so true in business. If you really want to succeed in your business, then you need to have a great source of connections around you so that they can help when you are in need.
Networking always provides you with a great source of connections and also opens the door to talk with highly influential people.

2) Raise your profile

Being visible and getting noticed is very important in networking. So, be available at all the business gatherings to get your face known. You should be able to build your reputation as a knowledgeable, reliable and supporting person by offering useful information to people who need it. By being noticed by others, you are likely to get more referrals as you will be the one that pops into their head if they have something to offer what you are in search for.

3) Give the right amount of time

In simple words, networking is nothing but investing your right time for the growth of your business. If you spend very little time for it, it surely does you no good. On the other hand, if you overdo it, then you are likely to shift your focus away from your business. So, set aside a proper time for networking activities and leave the rest amount for your mainstream works.

4) Networking inspires and motivates

Networking is powerful in different ways. You are sure to get inspired and motivated after attending startup meetings or specific business events. Do not forget to be yourselves and present your company in such a way you wanted others to see it. Always create honest fundamentals for one such potential business relationship.
Do not underestimate the power of local networking as this will establish the relationship and the connection continues after the event too. Knowing your local community is important for the budding entrepreneurs because you never know from where the next big chance knocks your door.

5) Hit the right chord when your turns comes

Networking is a mutually beneficial relationship that requires give and take from both the ends to make it work. When you are approached with some opportunities, make sure you grab it and lend the required support.

So, all the budding entrepreneurs, to succeed you must continually connect with new people, make new relationships and leverage your network.

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5 Mistakes You Should Avoid For Your Business

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To succeed, you need to have an in depth knowledge of what to do as well as what not to do. With startups, especially, the margin of error is very limited. Today, we talk about five things you should not do to make sure you’re a successful business!

1. Retargeting Every Visitor 

No matter how great your product is, retargeting every customer to your product page is not an effective marketing strategy. More often than not, this irks customers as it destroys the exclusivity factor. Segment your bounced visitors into different groups by how many pages they’ve viewed, how much time they’ve spent, whether they’ve visited a particular product category etc. and retarget accordingly.

2. A Disastrous Social Media Strategy 

Social media only works if you have a clear plan in mind with a long term plan clearly chalked out. If your plan doesn’t reach the right target audience, then there really isn’t any point in the campaign.

3. There Is Always Competition 

Do not ever think you don’t have competitors. While there may not be an idea that is exactly the same as yours, there are plenty out there that are very similar to yours.  Sometimes your competition isn’t a person or a company but rather a “thing. So keep a really close tab on the people around you and make sure you are always one step ahead of the game.

4. Assuming Your Customers Are Always Loyal 

No customer is always loyal to the product. There is always something better and cheaper out there. To ensure a loyal customer base, create a connect with the regulars and don’t over burden the semi frequent visitors. Play the game the right way and the customers will always stay!

5. Thinking You Have To Do Everything On Your Own

Even if you are just one person who is in charge of everything, you need to keep in mind that you do not have to do everything on your own. Ask for help, ask for ideas. The more you ask, the more you learn and the more you grow!

 

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Tips On How To Diversify Your Business

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“Don’t lay all your eggs in one basket.” The saying is as true as the number of years it has been famous for. It is in fact even more true for small business who are looking at making it big and making it big successfully. This mantra of sorts should be taken even more seriously in the current digital age and is one that should not be ignored.

Today, we take a look at 5 tips that can help you in diversifying your business and growing it to unimaginable heights.

1. Diversify 

Always learn to experiment. If you play it safe, then your business is the only thing that is suffering. You need to be careful to not under sell or undercut your idea/product. Your market research needs to focus on customer demand for new products and services and your cost to manufacture, deliver, and sell them.

2. Expand To New Territories 

Do not stick to just one location. If you have been in the same area for more than a couple of months, then it is time to move on and identify more areas/locations for your business. A franchise has more chances of succeeding in this cut throat world. It also sends out the message that your business is here to stay and that you aren’t afraid of competition.

3. Target New Customers

Most businesses target their sales and marketing efforts to specific customer markets based on demographics like age, gender, locations, likes, interests, activities, and values. In order to succeed as an enterprising business, your goal is to break beyond the obvious range of customers. Once you diversify your target audience, your product immediately gets more attention. This is a constant cycle which usually works in your favour!

4. Offer Integrated Solutions 

The main question you must ask yourself is if you could do more than there already is.  This might be anything: training, cloud services, apps, additional gear, monitoring, servicing; the possibilities are endless. The beauty of the digital age is that everything is available and is yours for the taking. So reach out, grab it and make the world your oyster!

5. Suss Out The Competition 

It is always important to figure out what your competition is up to. Either you are in line with their progress or one step ahead. It is preferable if you’re one step ahead because then that gives you the platform for success.

With these steps, expanding your business no longer remains a dream but becomes a very successful and competitive reality!

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Tips On How To Make Your Meetings More Successful

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More often than not, business meetings tend to drag on for far longer than necessary and usually end with no real conclusion. Today, we give you tips on how to make your meetings more successful and worth the while!

1. Add Accountability

Adding accountability helps increase responsibility as the onus of the problem falls on the employee. At the end of the meeting, make sure that a recap happens and individual assignments are given if necessary. This helps increase productivity.

2. Shorter The Meeting, The Better

A golden thumb rule? Always, always keep the meeting short. In fact, shorter the better. Meetings scheduled for a long period of time tend to scare the members and this is not a good thing. If more things need to be discussed during the meeting, then that can be added for a follow up.

3. Always Know The Reason For The Meeting 

A meeting without a purpose is never a fruitful meeting. In fact, make sure that EVERYONE knows the reason for the meeting.  Weekly updates, quarterly sales meetings, and annual board meetings all have a purpose. Make sure everyone knows why he/she is there and what is expected of him/her at the meeting.

4. Take Down The Walls 

The walls keep the thoughts out. A lot of times meetings for problem solving are rigid and coordinated. Find someone who can do the minute keeping and allow your team to hash out the details. The old fashioned way always works – sit in a room and talk to each other! This increases communication and brings down the walls.

5. Make Every Stand Up For The Meeting 

According to recent studies, it has been proven that if you have everyone standing for a meeting, the meeting becomes more effective. While it is possible that not everyone likes to stand for a long time, it is an extremely effective in the long run.

 

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