Business Prospects And Incentives Every Entrepreneur Should Think About

Running a business is no easy task. But more and more we see young people striding out on their own and starting a business up. Being an entrepreneur takes a lot of guts and stamina. It’s not all plain sailing from the start. It’s tough. All it takes is one idea, a bit of passion and a lot of business know how. But most of the big companies we hear about today started with those key ingredients. Think of the likes of the Virgin Empire formed by Richard Branson. He had a dream and those key ingredients to succeed. He had his idea. He had his passion, which stemmed mostly from wanting to prove people wrong. He learnt his business know how, but now he is one of the most successful businessmen of all time.
So what does it really take to succeed? Mostly it’s the things that can’t be taught or learnt. It’s ambition; it’s passion and it’s drive. If you have all of those things, then you have a good basis to begin. But what about the other things? The business know how? Thankfully these are all things that can be learnt through trial and error. Which is why I thought it would be an excellent thing to conver. The business ideas and incentives that every entrepreneur should think about when running a business. So if you want to build on what you have, or you are just getting started, then these tips are for you.  
Social Media Marketing
Social media is huge for any business venture. One of which is your direct line to existing and potential customers. Your online presence is just as important as your face to face meetings. Which is why it is essential to make sure you have an engaged online presence. Try and pinpoint a few social media platforms that you can do well. Rather than have a mediocre presence on too many platforms.
A great way to do this would be to pick some of the main social media platforms and work on maximising each one to the highest potential.
Make more of Twitter
Twitter is a wonderful interactive social media tool. It allows you direct and instant access to all your followers. Which of course can turn into potential customers of your business. With updates needing to be 140 characters or less this is a great fast and engaging community your business needs to work on. Most businesses like using Twitter because of the direct line you have. It’s easy to grow when spending a little time and focusing on a marketing strategy.
Engage on Facebook
Facebook is one of the social media platforms that is used very often. Mostly on a more personal level. But businesses are starting to benefit from this. However, Facebook needs engagement for it to work. This is where a business can fail if they don’t spend much time working on their social presence on Facebook. Using status updates to keep potential customers informed of your business goings on. Also with the new facility of live video streaming this could open up a whole new territory for you and your business.
Podcasts are a new venture to consider
While I have my own podcast series helping small businesses. It’s something that all businesses could consider themselves. Podcasting is fast becoming an exciting way to interact with potential new clients. While letting them know what’s going on with you as a brand. It can even be done like an online blog. Instead of writing you could release a podcast and discuss what you want to say.
Making the most of the local community
Make the most of your local community. It’s a great way of advertising your new business. There are a many ways you could consider doing this. Mostly by starting with focusing on your in house clients. Your employees. Then branching out within the community. This is an excellent form of marketing. This is because you are relying on one of your biggest assets. Word of mouth. No matter how much you spend, you can’t but the opinions of others. Or tell them what you want them to say. But you can influence it.
Take advantage of your very own brand ambassadors
Your biggest asset first and foremost is the people that work for you. They are in the business day in day out. They know the product or service inside out. Making them your brand ambassadors. So provide an incentive for your employees to use your products and service. A great way to do this is through product or service discount. This is where you will get there commitment outside of business hours. While they network with their friends, and friends of their friends. They will be advertising. Without even realising they are doing it.
Other businesses
It doesn’t just stop with your employees. You can make the most of local businesses as well. A lot of people don’t even consider this, but your locality is your biggest market place. While it won’t work with competitors, of course, it may work for businesses totally different to yours. Offer a discount to employees of a local business. You could have agreements amongst a few different companies. Again this is keeping your product in the local area and allowing other people to network for you. It’s a great way again of making more of the word of mouth.
Charity starts with your business
You want to be seen as a business within the local community. So getting involved with local charities could boost your presence within the locality. While doing something for a good cause. You could consider sponsoring an event, or even raising money yourself. A charity will also advertise their relationship with you. Which means everyone gets good coverage.
Thinking about the Stock Market
The stock market can be beneficial. Not only for making a profit individually but also through your business. This is where your business can shine. What you can consider is thinking about investing yourself. These can be risky, and it’s not something to make a rash decision about. It’s always worth checking out articles online. You could read MoneyMorning.com. Which could be an excellent resource for you.
Alternatively, from a business point of view, you could open up your business to investors. This could be done through seed funding organisations. Where you have many shareholders who perhaps invest small portions each time. Or allow certain percentages of your business to be taken by larger investors putting up bigger sums of money. At some stage, you could float your business on to the stock market. All of which can help your business move forward. With added investment, you can take your business to the next level.
Being aware of your online presence
Being aware of your online presence is vitally important for a business to succeed. Not only is it important to stand out on social media but you need online backup. This is done through a few different mediums.
Creating the perfect website and e-commerce site
A great place to start would be to have your own blog and website for the business. You don’t have to have an e-commerce facility where consumers can purchase products or services online, but it does add to the appeal. This is because many people tend to shop and purchase things online. A website is the key for good advertisement.
Making the most of search engine optimisation
Search engine optimisation and keywords on your business are important for it to show up in searches online. This could be through Google or other platforms. If you are not familiar with this type of marketing strategy outsourcing it to a professional would be recommended. The main aim is to make sure your business is visible to someone who wouldn’t necessarily know you exist. So someone searches for a business that provides something, and you come up. That’s how search engine optimisation works.
Don’t forget the nitty gritty details
What many entrepreneurs tend to forget are the basics. Anyone can get carried away with an idea and forget that there are fundamental points that need to be considered each day.
Having a decent business plan that can take you forward
A business plan should be something every new business owner does at the beginning of their journey. But what many fail to do is go back to it and advance it. A business plan is your insight into the journey ahead. Where you think the business will go and what you can do with it. It covers budgets and direction. Why wouldn’t you carry it forward?
Having the people skills to drive a business forward
Many business owners lack people skills. Some people can just be so passionate about what they are doing; they can forget about the people surrounding them. Having decent people skills means showing respect, being someone they can look up to. Being a great leader and motivator. While skills like this can’t necessarily be learnt, it’s ideal to be totally aware of what is expected of you. We can all change.
I hope these incentives, prospects, and ideas inspire you to take your business forward.