How to Build A Successful Business or how to become a businessman?
Starting a business and becoming successful is often part of the American Dream. But there is a difference between starting a business and building a successful business. Many businesses fail within the first few years of existence due to the lack of planning for the long-term. how to become a businessman in Gauteng there is not enough vision and there is not enough done to strengthen the business properly from the ground up.
If you want to start a business there is an easy way to get a better understanding of why some businesses fail and others don’t. When starting a business think about it similar to building a house. If done right it is protecting you against any kind of storm or danger of the outside world and will last for a long time. It offers shelter and protection. For you and your business that could be translated to that you want to have a business that is able to weather economical ups and downs (=storm) and that will provide income to pay the bills (shelter and protection).
When building a house there are several different steps you need to follow to have the house build. You know you want a house, but you got to pick a location and get an architect to plan everything out. In the business world that would be: you know you want to start a business, but you have to come up with a business idea and work out a business plan. The next thing for the house would be to build the foundation (and eventually the basement) for the house. In the business world – you got to build the initial infrastructure (example: connecting with vendors, find a manufacturer for your product, create a sales team, rent office space, get a delivery truck, etc.). Once that is in place you able to actually do business and earn some money. But you are not completely done yet. You need to build a frame, put in windows and you also need a roof on house. For your business this means that you pay off debt, improve business processes and get professional help when needed (example: find a tax accountant, select a payroll service, etc.).
Once the house is build you probably want to fill it with furniture and make it livable for the future. Nobody wants to sleep on the floor, right. Again translating this to the business world it could mean that you invest money you earned back into your business. You buy machinery instead of leasing it. Eventually you buy a building, hire more staff, develop more products, move into new markets, build up a high cash reserve, and buy other businesses and so forth. This is often the step where winners and losers separate. Re-investing money into the business is a key factor for success. If you go and spend all the money on your own salary to buy things you have nothing to go back to when the economy slips into a recession or if disaster strikes.
The successful business owner has build up a cash reserve or can borrow money from bank – securing loans with the assets of the business. Going back to building a house this pretty much matches the same efforts. You pay off your mortgage and have equity available to eventually borrow against when emergency arises. Emergencies do not include paying off credit cards to use them again or to buy a car. Financially responsible you should be looking at the long term and not finance short-term goods with long-term debt.
Interesting Facts About how to become a businessman in South Africa:
About how to become a businessman in South Africa:
They say money doesn't grow on trees, but I think you can grow it on something even better! Your home computer. To make your money tree grow, you will need to give it a home and a place to grow. You can do this by creating your own website. Here are some basics steps to creating your own website:
1.Pick a domain name. Make sure the name relates well to the information on your website. If you can, make it short and easy to remember.
2.Create your web site using a web site creator, hand coding your own html, or a combination of both.
3. You will need to sign up for a hosting account to get your website online.
Next you will need to plant the money tree seed by developing your product so it can grow:
1.The fastest and easiest way to create a product to sell on your new web site is to create a information product (e-book, audio, etc.). Its very low cost or free to create, and everything is automatic and electronic. That means there is no overhead and no products to ship!
2.You may also want to consider borrowing some seeds while you make your own. You can do this but signing up with other companies that sell information products and selling their products for a commission. This is a great way to get started and test the markets to see whats selling. You also build relationships with companies and that very well could be a marketing advantage after you finish your product.
Finally you will need to nourish your tree by watering it with traffic.
There are three main way to get traffic to your website
1.Your can buy traffic through sites like google. With this method you pay each time someone searches for your key words and they click on your link to your site. Through google you will be paying $.05 each click and up.
2.You can email you mailing list you made over time. Send out a promotional email and and get your previous traffic coming back. Just be careful not send out too many, or they will become annoyed and turned off to all your other emails.
3.Partner up with your competition. You can get your competitors to send out your promotional emails by offering them a commission. Your competitors can become one of your best assets!
Maintain your tree by watering it with plenty of traffic, and give it plenty of love by updating your material! Fallow these easy steps and your money tree should be ready for harvest in no time.
how to become a businessman in South Africa
Very few people ever got rich by working for someone else. Leaving aside pop musicians, sportsmen and similarly gifted people, the only way to acquire wealth by work is to build a business of your own. The type of business you decide upon will depend on: a) how much money you have available as start-up capital and working capital; b) your business idea; and c) your confidence level.
There are three types of business: 1) the traditional one in which you are reliant solely on your own efforts; 2) a franchise where you follow a proven idea and receive considerable training and back-up from the franchise company; and 3) network marketing.
Each business type has its pros and cons.
• The traditional business requires considerable financial input, either from your own resources or part-funded by your bank. You may need to rent premises; buy equipment; hire staff; pay for advertising, brochures, stationery, and stock. A frighteningly high percentage of this type of business fails in the first year. To succeed you need: a good idea, considerable financial backing, good health, an understanding spouse, and stamina. If you do succeed you will own the business outright and benefit from all the profits.
• Franchises have a high success rate. Banks like them because each franchise operation has a proven track record and thus the banks can accurately judge the risk, consequently they will lend money for this sort of start-up. However, all the support and training comes at a price: the initial entrance fee is likely to be very high, and a percentage of the business’s turnover has to be paid to the franchise company.
• Network marketing, also known as multi-level marketing, has many advantages and few disadvantages. The entrance fee is low and the ongoing expenses are even lower. A network marketing business can be started in your spare time – in fact that is the best way to approach it. Start small, and keep at it. The secret is perseverance, get past the first year and you should find the business has a sound foundation from which you can build a serious income. It is said that 95% of those who survive ten years in network marketing become wealthy beyond their wildest expectations.
So which type of business is for you? If you wish to provide a service or product where you have previous experience from, say, a former employment, the traditional business will be probably be the best choice. However, if you are just tired of working for someone else and making them rich and wish to strike out on your own, then a franchise or network marketing must be the preferred option.
The choice then is determined chiefly by the funds you have access to, and the time and effort you wish to put into your enterprise. A franchise will require substantial funds and 100% commitment. You are jumping in at the deep end, although the franchise company will provide training and support to help you to swim.
On the other hand you can ease yourself gently into network marketing by starting part-time while you continue with your current employment, building your business by ploughing back profits if necessary. Persevere and there will come a time when the income from your own business will be sufficient to support you financially. You will then be able to leave your employment and concentrate on your business, spending more time on it or enjoying considerable free time with your family.
Entrepreneurs - Recession-Proof Your Business Success
In the world that we live in, several multinational companies tower over one another. It is not something to bring wonder to all as these occurrences form part of the goal to which everyone is geared towards—it is none other than global competitiveness.
You must not get the shock of your life when you see multinational companies springing form one continent to another, from one shore to another shore, and from one border towards another. In your most unexpected places, multinational companies may pop out and can also expand at any minute.
With the innumerable businesses in existence today, you might think that your effort to put up one will just be futile as it is like planting a seedling in an array of towering trees. It may be but it may not also be. Got the logic? Then, read on!
Despite all the lording gigantic businesses there are in these days, the rise of entrepreneurship cannot be stopped. The rate of entrepreneurship is in fact growing day-by-day concerning the hundreds of people who want to start up something with their capitals in hand. For someone who wishes to put up a business, risk must be taken. Competition is inevitable in this kind of industry. That is why you must be firm with whatever decision you will make and capable of risk-taking.
If people discourage you to dwell into any type of business, better not listen to them. After all, entrepreneurship is indeed very much alive. Government systems in fact encourage entrepreneurs that will help boost up the economy and save the nation from further crises. While the government is welcoming with open arms these foreign investors, it is not as well turning its backs from local investors. In reality, the government is encouraging investments from their local people. After all, the government deems that investments are the sole solutions to provide the nation some stability and certainty in terms of the economy.
Do not be taken aback by the giant investors existing in the market. They are already stable so they would not bother to pull you down. Just concentrate with your own stuff and think of better ways to further improve your craft. Who knows, someday you might be one of those giants lining up the business arena.
But how will you start? How can you be turned into an entrepreneur? Look into your own self. What can you offer? What capabilities can you boast of? What are you capable of doing? Just have a vision of what you like and certainly you can make it come true. Before pursuing into any type of business, equip yourself first with the utmost trainings.
Entrepreneurial training programs will make your qualifications sharper, fluent, and competent enough to face the battle among the existing competitors. Where can you gain access of entrepreneurial training programs? Several companies offer these training programs. Schools are also hooked into this scheme. Always consult the expert in the field of entrepreneurial training programs.
Do away with the negative vibes. Do away with negative thoughts about yourself. You know you can do it. You know you can face it. Do away with confusions. Do away with self-pity. Just sport a positive perspective about yourself and you will soon see what will become of you. Maybe you will not be too successful on the first try. But then the more you try, the closer you will be with success.
One ultimate source of entrepreneur training programs is the internet. Yes, online entrepreneurial training programs are widely available. These trainings harness and hone your entrepreneurial skills even you without knowing it. Online courses are at times free. But mostly, they need to be subscribed to. If you think you are now ready to face the battle, try searching for online courses on entrepreneurship training programs.
There are literally lots of them. While undergoing the training program, be sure that you pay keen attention to whatever lessons are given out. These lessons will determine the knowledge that you may manifest as you already deal with the actual reality.
A training program on entrepreneurship will let you reap fruitful results. Just believe in your own capacity.
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