Why You Should Leverage Your Positives in Business & Outsource Your Weakness

The fastest way to improve your bottom line and start enjoying your business more is by applying this important rule immediately.

Lots of Small Business People spend too much time trying to figure out how to become better at something that doesn’t come naturally to them or something that they are just generally not good at. In business this is a waste of time and money and it gives you grey hairs.
 
If you have no interest in something, if you know that you do not like doing something why waste precious small business cash trying to get your head around it?

Understand this: the cost of not outsourcing can far outweigh what it costs your business in the long term by not doing it.

The most important thing you can do as a business owner is leverage your positives and that of your staff (if you have any).
 
By solely focusing on what it is that you are good at you not only find your work more enjoyable but you will start to shape your business around what it is that you are skilled in rather than trying to meet the demands of everybody. Your staff will enjoy their role more and you will only hire skilled people for particular jobs rather than a one size fits all kind of person who never really becomes skilled or very interested in anything.
 
Leveraging and focusing on your positives in business = a more defined product and service that is 10 times more likely to be successful.
 
I hear you say ‘But when you don’t have much cash you have to do everything yourself?’ I completely understand this. Having to know how to do everything in your small business and doing it all on a tight budget was how I built my business. By all means if you have the time and the money to learn every area of small business management then I fully advise you to do that if it’s what interests you.

If you don’t have the time yet you have important jobs that have to be completed here’s what you have to consider:

  •  Learn a Little.

Learn enough about the subject of your weakness to understand it. Don’t torture yourself with hours of study if you know that it is something that you will never grasp.

Know enough about what the book keeping side of your business must entail, know enough about the web building process to ask questions if you ever have to outsource. Do your research but don’t kill yourself trying to be the best at something you despise.
 

  • Weigh Up The Costs.

Determine the cost or value of your time spent on doing this versus the cost of somebody who is specialised in the field and can do it a million times faster and better. If you are to spend 15 hours learning your new tool and another 60 achieving your goal, what is the cost of this adventure if you value your time at $50 per hour?

Now determine the cash that could be made if you spend that time elsewhere in your business where you are needed and where you can leverage your skills. If you spent 75 hours doing something that you are good at, what would be the profit from that journey? Balance out these two equations and determine what you are actually losing by doing it yourself? Determine the cost of you doing it, the cost of what your business will lose by you doing it and the cost of someone else doing it and determine if it is worth it or not.

  • What is the real cost of doing it yourself?

If you choose to outsource your head ache or hire someone to specialise in it, understand the basics of what it entails and ensure you are involved in the process and receiving value for money. In other words, know enough about the subject to get value for your money. You still hold the reigns, you are still in control; this is what is important. Shop around when you outsource and find someone who can do the job within the desired time frame, for the desired price and ensure they are offering you a quality return on your investment.
 
ACTION: I want you to stop and immediately apply the above scenario to one of your jobs or roles as a business manager that you despise or are no good at right now. Carefully think about each step and how this could affect your business.
 
I understand that working with a restricted budget in small business can require you to be multi skilled. However I urge you to weigh up the scenario. Outsourcing may not be as expensive as first thought especially if the person you outsource to knows that you have an understanding of what is required.

 
People enter business everyday not honestly recognising and outlining their individual weaknesses and positives. People who are unsocial yet are pure finance whizzes open cafes. Then they can’t understand why the business goes belly up? If you are a finance whiz and you don’t really like people then create a business that leverages those skills or replace yourself with someone who can do a better job than you. In the short term you may think that you cannot afford it, but in the long term you have no other choice if you want to survive.
 
This process can be applied to every level of your marketing process and every angle of your business. The changes that you can make and the staggering profitable results that can be achieved from applying this small business rule can be astounding.
 
The whole process that BusiWizard offers you is designed to help you leverage your positives; learn enough to understand what every angle of small business management entails (Ebooks/Free Info Pages) yet the affordable ability to outsource if you need to professionals (coaching/consultancy/web design) that can do it better and faster than you can.

Internet Business – The ABC’s of Starting an Online Business!

Starting your own Internet business can be as difficult as you make it! Most successful online business owners failed many times before they found something that worked.

Personally I worked hard for a good two years before I really figured it all out but once I did it has really been all down hill from there. I will try to help you avoid some of the pitfalls you may face while starting your own Internet business.

Once you decide to take the plunge and really dedicate yourself to building a real Internet business and when I say real I mean a business, not a scheme that will make you a few bucks here and there, but a real business that has value and you can sell one day.

Your first task is to decide what you are hoping to achieve with your online business. Most people fail because they have no clue what they are looking for and if you were to ask them you might get an answer as general as “I want to make a lot of money.”

That is such a generic answer and it certainly does not define any real goals and when you fail to set real goals you haven’t a chance at success.

So, your first step is to put your goals down on paper as this will help shape your entire business plan and this will get you started off on the right foot.

There are hundreds if not thousands of ways to earn money working online and if you allow it, this can become extremely distracting.

Before you decide on one particular Internet business model you should take the time to investigate some of the more popular methods, as they say “Don’t try to reinvent the wheel.”

If you find a particular business model that interests you take the time to search for a few other people that are already successful at that business and study what they are doing.

You should sign-up for their newsletter if they have one and subscribe to and read their blog and you should follow them on Twitter, you should do everything you can think of to find as much information as possible, this is basic market research.

The best way to learn how to run a particular online business is to read all you can about the business and just study the most successful people already running that type of business.

Once you have learned all you can then your next step is to take action. Take Action!

You would be surprised at how many people fail at this step, they go through the learning process and they spend their time preparing but then when it comes down to taking that last step it is though they lose all confidence in either themselves or in the business altogether.

If you are serious and committed to starting an Internet business be prepared to face moments of doubt and insecurity because I can guarantee you that they will rear their ugly heads.

I faced two years of off and on doubts about this whole online Internet business possibility. However, I failed miserably at the most important aspects of starting any type of business and that is my motivation for this particular article.

If you are considering an attempt at starting your own online business but your full of doubt and disbelief you must get past that before you even begin.

If you want to insure your failure all you have to do is to not believe in what you are going after or in yourself. Nothing in life is guaranteed and sometimes you just have to take it on faith that you have what it takes to succeed.

To sum up my message to you, I would tell you to do as much market research as possible into the market you wish to pursue, clear your mind of any doubt or disbelief you may have and trust in your ability to succeed.

Once you have chosen the type of Internet business you are going to build; Get To Work! You should have a business plan and you should have your days preplanned or in other words, schedule your daily tasks the evening before.

A well planned day will keep you from falling prey to the countless number of distractions online. If you work steady everyday at building your Internet business you will enjoy the benefits of owning your own successful online business.

5 Reasons For Online Business Failures

Every day more people make the decision to start an online business. It may be the benefits of working from home, extra money needed, loss of traditional employment or simply curiosity – the idea of owning an online business can be alluring. The statistics show, however, that more home businesses fail than succeed. But do not despair just yet – knowledge of the common pitfalls can help you map the road to success. Here are 5 common mistakes made by both new and experienced Internet entrepreneurs.

Reason #1: The online business was not a good choice.

Few Internet entrepreneurs start their first online business with a firm idea of what they are going to make money from. The majority of home business owners will search for an opportunity because of a real or perceived need; since there are many thousands of Internet opportunities to choose from often what happens is the first one to attract a person’s attention is the one they begin their online business journey with. Whether it is an enticing sales page promising the level of income that would address or exceed needs or the type of business matches a personal interest the process of choosing the online business may determine success or failure from the outset.

Some opportunities turn out to be deliberate scams or simply “too good to be true”. Other online businesses just turn out to be the wrong fit because some details were unclear until after starting or the entrepreneur misjudged their own knowledge of the business product or service.

Reason #2: There was no business plan in place.

It can be relatively easy to simply jump into a business opportunity with no business plan in place. It does not take more than a few minutes to sign up and pay for an online business opportunity without planning or research. Of course it stands to reason that if you are responding to an advertisement promoting quick riches with little or no effort it stands to reason that a business plan would not be in sight because it shouldn’t be needed. A business plan maps out the strategy for financing the online business as well as marketing and other important details typically put in place to turn vision into reality. If there is no business plan then either there is no direction or it rests in the hands of others.

Reason #3: The business plan was not followed.

With a business plan in place there should be guidelines and limits. Exceed your monthly advertising budget and fail to follow through on planned marketing should prompt the realization that either the online business is off track or the business plan requires revision. But unless the Internet entrepreneur is disciplined to follow the business plan they created it can quickly become a useless piece of virtual paper that has no real bearing on direction or success.

Reason #4: There was no mentoring or support system in place.

Everyone needs some form of support for their online business. A significant contributor to online business success or failure is the support received through means such as coaching, a friend who listens and provides feedback, or a business forum. There are enough ways to offer support that the absence of any should be a warning sign to avoid a particular online opportunity. If an Internet business owner decides not to avail themselves of available support options then they have mostly themselves to blame if things do not proceed as desired.

Reason #5: The intangible costs were higher than anticipated.

Assuming even just a little conscientious spending, when tangible (i.e. monetary) costs are higher than bugeted there should be no surprises. That is what a business plan and budget is designed for after all – to make the decision to overspend a deliberate one. But in addition to the financial costs of owning and operating an online business there are less tangible ones that can just as easily spell defeat. An example of an intangible cost is the impact on family life caused by working from home instead of outside of it. The reality is that for some people or situations working at home creates interpersonal stress that was likely not fully anticipated and was not part of the picture when they were leaving the house for work.

In conclusion, there are many reasons why an online business can fail but knowing about them means they can be avoided. Aiming for success a new or experienced Internet entrepreneur can research business opportunities before joining, develop a workable business plan and follow it, take advantage of the support available and monitor the impact of working from home.