Why Businesses Fail

To be able to start a business from thin air is quite a hard thing to do. Some can, some cannot. There are a lot variables when it comes to a business succeeding or failing. Below, you will find a list containing the reasons as to why some small businesses fail and what you, the business owner can do to prevent the situations from becoming a problem in the first place.

No Leadership, Employees Get Lazy and Sometimes Insubordinate
As a manager, you should never “manage,” unless it comes to a dire situation. Power trips for unintelligent, insecure managers and business owners. Instead, you should be friendly, listen to the ideas the employees have as well as consider them the front line soldiers who know what is going on in the market.

However, some newer, younger employees may see this type lax of attitude and attempt to leverage it in an attempt to firmly establish a “do what I want whenever I want” mentality and atmosphere throughout your company. This can spread like wildfire and it can get out of control very quickly. Upon the first sign that the employees are slacking and not taking their jobs seriously, the manager or business owner must remind them as to why they are paying them the amount that they are being compensated and reiterate as to what kind of productivity and execution is expected.

Good managers and /or business owners lead by example and create a business atmosphere that screams “hard work” and “company dedication.” You must create a “produce or don’t work here atmosphere” within the organization or your business is being left often to failure.

Not Paying the Employees Enough
To obtain the best employees, one must pay. Your employees are going to be representing your company every time a potential client calls or very time somebody visits the office. These individuals are going to be the face of your creation. Regardless of how impressive you may be, if your employees are not sharp and don’t give off an energetic vibe, clients are going to begin shying away and will not take you nor your company seriously.

Additionally, if you are not ready to pay an employee or employees a salary that is very industry competitive, you must do the extra work and continue to put in the 16hour days until you can provide a salary that is conducive to acquiring top notch talent.

Don’t misunderstand. This does not mean that you have to save $200,000 for the person, but look at various job boards. What are your competitors paying to bring in new employees? Do you think that they are getting impressive or lackluster talent offering the compensation packages that they are? Always aim higher.

If they are paying them $70,000 a year, budget $85,000. You always want to get employees who are better than the workers whom your opposing firm currently has.

Business owners with big egos don’t bring in high returns. Don’t just have an employee simply to say you have one. There is no sense in doing this. I know people who have done this and it gets them absolutely nowhere.

Lastly, free employees can quickly bring down a corporate empire. They can bring down the corporate empire that you a very long time to create and bring to life. I’ve always felt that simply having the thought of obtaining free employees is a little off. Why should somebody work for you for free? Would you work for somebody else for free?

I can see justification that they would do so if you were sharing half of the company revenues with them a.k.a. making them a partner. Otherwise, those employees are going to leave and, upon them going to competitors, they may badmouth you. Therefore a result of you even attempting to obtain free labor, will give your competition free and very useful competitive intelligence on your company. Their obtainment of this information could come from a job posting or your former “gratis” employees potentially bad-mouthing you.

Why Facebook and LinkedIn Are Good For Your Business

Have you been hearing all of the buzz about social networking? Feeling confused? Don’t worry, you’re not alone. The great news is that it isn’t as complicated or time consuming as it may seem. Plus, it’s more than just social; it’s good for your business to get involved.

The list of social networking sites is long and growing. I don’t want to overwhelm you so I’m only going to focus on two that are particularly suited for you as a business owner, Facebook.com and LinkedIn.com.

So why should you care? What’s the big deal? Well, here are just a few reasons to enter the social networking realm:

* Gain exposure for your business that may lead to new clients or projects

* Increase the credibility of your business (give and receive recommendations on LinkedIn, post messages on friend’s pages on Facebook)

* Be connected to the people in your network in one location (OK, two if you’re on both Facebook and LinkedIn)

* Re-connect with business contacts you’ve lost touch with (sometimes they find you, sometime you discover them)

* Meet new people and expand your business network (meet your friend’s friends that you otherwise wouldn’t meet)

Here’s a quick overview of them (both are gratis and LinkedIn offers paid upgrade options).

Facebook:

– Informal and more social than business focused (this doesn’t mean it’s not good for your business)

– Almost 100 million members (according to Wikipedia)

– Anyone can ask you to be ‘friends’ (you don’t have to accept) and you can ask anyone to be friends (they don’t have to accept either)

– It is possible to share photos, videos, and add applications

– You can join groups within the network that interest you (or make your own group)

LinkedIn:

– Business focused

– 19 million members (according to Wikipedia)

– You can only invite people you know (people whose e-mail addresses you have) and vice versa.

– It is not possible to share photos and video (only your own profile photo)

– You can join groups within the network that interest you

To get started you just have to go to the website, sign up and follow the directions to create a profile. Because LinkedIn is mainly for business it is professional and the profile area is quite structured which makes it easy to follow.

Facebook is another story, although it does have a structured profile area, there are loads of additional features you can add to your page. When you join for business reasons be careful not to make your page too busy or too personal. You can be yourself and share your interests, just don’t reveal anything you wouldn’t feel comfortable sharing with a group at an in-person networking meeting.

When your profiles are finished you can start asking people to connect. The process is different for LinkedIn and Facebook but both are pretty straightforward. LinkedIn has a ‘Help/FAQ’ section on the website and Facebook has a ‘Help’ area as well (bottom right hand corner of the page).

You will learn more as you go, so just go ahead and get started. And as you meet new people you can ask them to join you on your networks. Networking, off-line or on-line, is about building relationships over time. So give first when possible, be yourself, and have fun with it.

The benefits of social networking for business owners are clear. You will be able to meet new people, build relationships with your network, improve visibility for your company, and discover new opportunities for more business. But that’s not all, it’s fun too. So why not get started and join the world of social networking today.

© Stephanie Ward, 2008

Online Business Ideas For Women

Are you a woman who would like to stay at home and work, while taking care of your children? Then take a look at these two easy online business ideas for women. You can get started making money in no time.

Idea #1 – Make Money Shopping

If you’re shopping online, you already have an advantage you can use to make a living from. You only need the following ingredients:

a: An affiliate program (in a moment, you’ll know what that is).
b: A blog (and you’ll get instructions).
c: A bank account or an account with PayPal (it’s free to join).
d: Articles. You can write the articles yourself or pay others for doing it.

What Is An Affiliate Program?

If you’re not already familiar with the concept “affiliate program”, you’ll not get far online without learning about it.

Basically, it’s you sending potential customers to a product owner’s home page, and if the prospect makes a purchase, you’ll get paid.

You don’t have to take care of delivering the goods or take care of questions, service, etc.

A lot of people make a nice monthly income just by writing about the products they already bought themselves at stores who have an affiliate program.

When you get more experienced in writing product reviews, you can expand your business to contain products you don’t own yet. In that case, you should search for real consumer feedbacks and write like a journalist would do about the product.

How To Create A Free Blog

Let me be honest – the best is to have your own domain with a blog, hosted with a web host, but if you don’t know how to set it up technically, or if you just want something without charge, you can get started with a free blog. There are some good places to start such a blog on the internet.

Pick your product name as the title of your blog. It will be included in the URL as well, which is good, because it makes it easier for your blog post to be found.

Write articles about your product, and submit them to article directories. This is gratis, and you can get nice and targeted traffic from them.

Idea #2 – Make Money Writing About Your Hobby or Children

Now you know how to get a free blog and how to get traffic to it, just by writing and submitting articles. You can use this knowledge in another way than by selling products.

People use the Internet to find information about a lot of topics, including hobbies, children, pets, marriage, house cleaning, and more.

Pick one of the things you like to do, and write about it. Put all these posts up on your blog.

It’s possible to make a living with the income from writing articles alone. Imagine writing about what you already know and turn that into an income, while you can stay home and take care of your children. Wouldn’t that be nice?

There are plenty of other online business ideas for women – but these two are really easy to start with by acquiring the right knowledge in these areas. Find a very good source for the least expensive education and training materials.