‘Business Resources’

Delegation 101: The Five Golden Rules of Outsourcing

If you are overloaded with work, you have no choice but to delegate. With labor growing more expensive and more demanding to supervise, many people find that outsourcing is a valuable tool for their business, especially during temporary busy periods. If you are thinking about outsourcing, here are five golden rules to always keep in mind.
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A small business blog can be a very powerful marketing tool. A blog allows your readers to follow your business in a day-to-day pattern, getting to know your values and even you. However, a blog that doesn’t follow the basic rules of small business blogging will be more of a dead weight than an asset. Here are five tips that should get you off to the right start.
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The Five Second Commute: This Year’s Latest and Greatest Home Business Ideas

Are you interested in the flexibility and profit potential of working for yourself? Working from home provides not only the shortest commute on the globe, but also an opportunity to build a small business without the pressure of an immense overhead. If you are interested in starting a home business, here are five fresh ideas that your community needs.
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That thing you do – whatever it is – is your expertise. You know more than the average person about your occupation whether you’re in sales, marketing, production, distribution… doesn’t matter. You know more than most people about it. Surprisingly, this edge may be all you need to get an article published in an appropriate trade magazine! (It’s easy to publish on line, but it’s something else to see your name printed on dead trees. It’s heavy, man.)

“Euw! I hate to write – I can’t.” Save it. Yes, you can write about what you do. Why would you want to? Hinted above (the heaviness) of being published on paper can be an excellent branding/marketing tool. When people in your own industry see your byline, you gain immediate credibility, attention and respect. The potential of getting print published is highly likely to pay off as a lofty component of your reputation.

Here’s a good place to consider whether writing is for you.

But the best tip of all is this closely guarded secret: Magazines need ink! Many are actively seeking and enormously welcoming of an article contributed by someone in their field. I know this for a fact. Don’t delude yourself that they have great mountains of wonderful, professionally written articles just sitting around. Call an editor. Odds are, you’ll be pleasantly surprised.

Risk is an essential part of running a business. It can make your dreams come true but it can also shatter it if you are not careful. A new study shows that successful entrepreneurs are more likely to take risks.

Some 60 per cent of those with assets of more than $1 million said a high appetite for risk had been a big influence in generating their wealth, compared with 36 per cent of those with less than $1 million of assets.

Given that risk is all around us, you should learn how to take calculate your chances of survival in this game. Here are some of the things you need to consider:

1. Look before you leap. Research about the risk you are about to take and consult with experts in the field to gather more information. The more you know the better your chances of survival.
2. Have a Backup Plan. Because there are different ways to solve a problem, you should have an alternative plan in case things will go out of hand.
3. Rank the risks. If you are taking several risks, you should prioritize which one to tackle first. A good measure is to consider the consequences of each scenario and the probability of it happening. However, this is a very tricky method because it’s difficult to avoid subjective opinions.