Tips for starting a successful business

As an entrepreneur starting a new project or venture, you’re likely to face many challenges. You’re not alone — other entrepreneurs from Latin America and the Caribbean have been there. Here is some advice they share for starting a new venture.

Be ready to seize opportunity

Timing is key for starting a business. If your startup isn’t ready for prime time, keep learning and working, says Alejandra Bazoberry, a strategic planner at Bolivia Rural, a digital communications company that seeks to address the needs of rural Bolivians and the local development organizations that support them.

Bazoberry advises getting more experience while you work on your product. For example, take classes to develop new skills or work in a company while saving money for your startup. “Be prepared to take the opportunity” when the right time comes to start your business, Bazoberry says.

Prepare a business plan

When José Sánchez founded his startup, he was so focused on building his platform that he didn’t think about how he would make money. He neglected to map out a formal statement of business goals, reasons the goals are attainable or plans for reaching them — key ingredients of a typical business plan.

Focus on creating a solution that solves the problem at hand, but also “think about the money,” says Sánchez, who co-founded Poliglota, a platform in Chile that connects people worldwide to learn languages via conversation groups.

Defend your product

“Know your product and be willing to defend it tooth and nail,” advises Triston Thompson, who is a partner and information systems architect at IntellectStorm, an IT and marketing solutions provider in Guyana. If you don’t believe in your product, Thompson says you’ll have a hard time getting others to believe in it.

It’s also good to surround yourself with positive people “who will build you up and not tear you down,” says Thompson.

Best Business Tips and Tricks for Success

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Our team is striving for success. With the help of some interesting business tips and tricks, you can increase your chances of future success very simply. The following are some of the easiest ideas that you could start using right away. How well could they help your company to go from strength to strength?

Never Stop Looking for New Ideas

Even if you reach a certain level of success, you should never stop looking for fresh new ideas that could move your business on to the next level. Maybe you could break into a new market, use cutting edge technology or just take a different approach to what you have always done. The most successful businesses are always on the lookout for new ideas as well as for useful business tips and tricks that they can use. If you just stand still then you open yourself up to the risk of others overtaking you. You could use social media to look for new ideas and trends to latch onto. Consider using a social media tracking and monitoring tool such as Talkwalker to see what your customers and rivals are saying on social media about you and about the industry in general.

Diversify Your Client Base

If you want your business to be a long term success then you can’t afford to rely on a small client base to get you there. Relying too much on one or two customers will mean that you are always at risk of suffering badly if you lose one of them. Ideally, you will have a wide-ranging client base covering different customers in a variety of industries and locations. In this way, you can protect yourself from being too seriously affected by problems in other companies, cities or industries. You may want to carry out some analysis to find out what areas you could move into. In this case, a tool you might be interested in is Usertlytics, as it lets you test your website and see what people who enter it really think about it.

The Most Important Business Tips From Donald Trump

Today I found an email I had sent to my husband a couple of years ago – it contained tips from a Donald Trump book called ‘The Way to the Top’. All the tips are from Business Leaders – they are true classics in my opinion and worth considering often in good times and when we are being challenged.

With most communication happening via email nowadays – a quick review of your Inbox and Sent Items can be extremely rewarding. I have on average around five to seven thousand messages in my Inbox and about half that amount again in my Sent Items. When I do a ‘clean out’ I review each email and then hit the delete button.

Today I found an email I had sent to my husband a couple of years ago – it contained tips from a Donald Trump book called ‘The Way to the Top’. All the tips are from Business Leaders – they are true classics in my opinion and worth considering often in good times and when we are being challenged.

[BB Editor] I recommend printing this blog post and pinning it to your desk or wall and have a look at it a couple of times a day – there are so many awesome tips here for your business.

The Tips – In No Particular Order Of Preference

  • Put yourself in your customer’s shoes
  • Be leery of Loans – Borrow Money When You Can, NOT When You Need To
  • Don’t worry about contracts – If you are dealing with bad people no contract will protect you!
  • Follow Your Heart
  • Only Results Count – don’t confuse effort with results!
  • Trust but Verify
  • Recipe for Success – Keep going, gather good people around you to do what you can’t and focus on your gift!
  • Contribute to the Community
  • During an Upturn – prepare for the downturn
  • The Harder you work the luckier you get
  • Make mistakes – Don’t be afraid to make calculated mistakes – you can always fix them. What’s important is to get the facts, make a decision – remember making no decision is in fact a decision
  • There is no substitute for hard work

Top Business Tips for Starting a Business That Will Succeed

Starting a business for the first time and worried about failure? Give your new enterprise the best chance of success with these top business tips, the best advice I’ve collated from other entrepreneurs and developed from my own experience of more than 20 years of having “been there and done that” as a small business person.

1) Be Passionate

You don’t have to love whatever your business is about (and probably shouldn’t), but you do have to be fired up about it. You’re going to devote a lot of time and energy to starting a business and building it into a successful enterprise, so it’s really important that you truly deeply enjoy what you do, whether it be running fishing charters, creating pottery, or providing financial advice.

2) Start While You Are Still Employed

How long can most people live without money? Not long. And it may be a long time before your new business actually makes any profits. Being employed while you’re starting a business means money in your pocket while you’re going through the start-up process.

3) Don’t Do it Alone

You need a support system while you’re starting a business (and afterward). A family member or friend that you can bounce ideas off and who will listen sympathetically to the latest business start-up crisis is invaluable. Even better, find a mentor or, if you qualify, apply for a business start-up program such as the ones provided through Futurpreneur Canada. When you’re starting a business experienced guidance is the best support system of all.

Instagram Marketing Tips for Small Businesses in 2020

Instagram is a new marketing frontier for small businesses that has the potential to bring in many new customers. As of July 2019, it was ranked #6 among the world’s most popular social networks, with over 1 billion users worldwide. Users love it for its strong visual focus and upbeat vibe.

The key to successfully utilizing Instagram marketing in 2020, as with other social networks, is building an engaged following and positioning yourself as part of the online community which could very quickly become your future customer base. If you are a small business owner finding yourself wondering how to do Instagram marketing, you’re in the right spot! We’ve rounded up 50 of our top Instagram tips for small business owners.

1. Use a business account

When joining Instagram, you can select whether your account will be a personal account or a business account. The latter is ideal for business because it allows you to view analytics, connect your account with your Facebook page, run paid advertisements, and it makes it easier for followers to contact you. Starting off with a separate business account is crucial towards establishing your brand presence and will allow you to strategize and implement many of our Instagram marketing tips for all small businesses.

Check out this blog for everything you need to know about switching to an Instagram Business Account.

2. Fill in your bio

Instagram gives you 150 characters to tell potential followers everything they need to know about you. Use this space wisely. You can include hashtags in the bio, which can help more people find your profile. Make sure to include a link to your website.

3. Update your bio

As a small business on Instagram, it’s easy to fill in your bio and forget about it. If you haven’t updated your bio for awhile, it’s always good practice to review your Instagram bio and see if there’s any important updates that need to be made.