Month: January 2019

The main reason why you started your own business was to chase a dream, be your own boss and ultimately make money. With the exception of people who start non-profit organizations, making money is one of the chief reasons why people jump into the world of entrepreneurship. It’s okay to want financial success and strive for it, but it is critical to know what to do once you reach that point. Money mistakes and mismanagement are some of the most common downfalls for all types of business owners.

Once you start making money, you may be tempted to celebrate with a big purchase. Perhaps you want a new car or to go on a lavish vacation, but this may not be the right time. It’s perfectly acceptable to celebrate achievements and to spend your money as you see fit, but in the early stages of your business, it’s prudent to think carefully about how you can use your profits to support the long-term success of your company. One of the most common money mistakes people make is to spend their fist profits on personal gratification — being wise with your money means knowing when to hold off on those splurge purchases.

Another money mistake you want to avoid are missteps with taxes. Make sure you are setting aside the right amount of money you need to cover your tax obligations. At tax time, it can be a rude awakening to realize that you have to take money from your personal paycheck or other parts of your business to pay your taxes. Smart entrepreneurs prepare well for what’s ahead, starting with their first profits.

When you have enjoyed a certain amount of success, it’s easy to become overconfident. No matter what changes you make or creative new products you launch, it is crucial not to stray too far from what made you money in the first place. It is possible to expand and grow while staying true to your initial vision. Continue to meet the needs of your customers and you will continue to succeed.

Even with the best original ideas and smartest business plan in the world, money mistakes can lead to disaster. Be smart about your finances, even before you start making a profit, and it will be much easier to manage financial success in the future.

By Meagan Kerlin for Vertu Marketing LLC

One of the main reasons for businesses to be on Facebook is to engage with their customers. If you’ve been on Facebook for awhile and have noticed your engagement has dropped, or if you’ve never been intentional about how you use Facebook, you’re wasting a great opportunity. It’s worth the effort to boost your engagement and take full advantage of this free social media platform.

The intent of being on Facebook as a business is to connect with your followers. This connection can help you build brand recognition and develop customer loyalty. Through Facebook, you should strive to educate, inspire or entertain. When you frame your posts for this purpose, you will find that it increases engagement with your followers.

If you want to boost engagement with potential customers and followers, it might be beneficial to keep your posts short. When people scroll through their Facebook newsfeeds, they don’t always want to stop and read a multi-paragraph post. Assume your followers have short attention spans, at least when it comes to Facebook. If you want likes or comments, keep it short and interesting.

Another tip for boosting engagement on Facebook is to use images or videos. Visually interesting posts will be more likely to garner attention and get responses. When you get to know your audience over time, you will learn what they respond to and figure out how to incorporate images in an effective way.

Finally, one of the simplest yet most effective ways to boost engagement with your Facebook followers is to ask questions. Take polls or ask questions that are interesting or funny — you don’t always have to post serious or business-related posts to have a strong Facebook following.

Facebook is a free and invaluable marketing tool for businesses. Don’t waste your opportunity to reap all the benefits this platform can offer your company. Implement changes and take steps to boost engagement — it’s a worthwhile effort to increase exposure.

By Meagan Kerlin for Vertu Marketing LLC

Do you have a vision for a small business and dream about the day that your hopes become a reality? Most people who want to start a business never actually take the plunge, and there are many reasons why would-be entrepreneurs never become actual entrepreneurs. Starting a business is a daunting concept, and things that hold people back from chasing their dreams often include the likes of life changes, finances and fears over the unknown. It may be these things or a number of misconceptions that are keeping you from moving forward.

If you are on the fence about starting a company, it could be helpful to consider the various misconceptions that are holding you back. The fear of the unknown is powerful, but it’s important not to allow it to dictate whether or not you will pursue your dreams. Instead, it can be helpful to take a practical, honest look at what it’s like to be a small business owner. Whether you have the wrong expectations for what it will be like or you are unsure of what to expect, consider the following commonly misunderstood things about entrepreneurship:

• My business idea is good so it will be easy to be successful — Not so fast! Even the best ideas require time, dedication and hard work to execute. Success rarely comes easy, but it will come to those who aren’t afraid to put in the time and effort.
• It will be great to be my own boss — Being your own boss may not be everything it’s cracked up to be. It’s challenging and often frustrating, and many times, you won’t know what to do next. It is still immensely rewarding, however, and you can use the uncertainty to compel you to dig deep and keep pushing forward.
• I’ll set my own hours — Technically, you will be able to set your own hours — but don’t overlook the fact that you will have put in a lot of hours. Especially in the beginning stages of starting a business, entrepreneurs have to go above and beyond normal work hours to get established and develop customer loyalty.

Do you have misconceptions about owning your own business? They don’t have to to hold you back — do some research and take the time to speak to successful entrepreneurs or business planning consultants to learn more. Knowing what to expect can help you avoid a significant amount of stress and heartache as you start your entrepreneurial journey.

By Meagan Kerlin for Vertu Marketing LLC

It’s not even halfway through the first month of 2019, and you may already be struggling with stress. Most people start a new year with a list of things they want accomplish, including goals such as being more organized, self-disciplined and productive. However, all the resolutions in the world may not help if you are constantly struggling with feelings of stress and the sense of being overwhelmed. It may be helpful for your mental and emotional health to learn some stress relief techniques, which in turn can help you reach your goals and make 2019 the best year yet.

There are many simple things you can do to manage your stress levels. If you tend to feel stress at a level where it impairs your thinking and your productivity, it is essential to learn how to manage those feelings. Stress is normal, and every person deals with it in different ways, but it’s smart to know which stress relief techniques will work best for you. The following tips may be helpful:

• Take a short walk — Even just three to five minutes every hour can have significant health benefits. Walking while you talk on the phone is a good place to start, or you can make it a point to take short breaks and walk for a few minutes throughout the day.
• Implement breathing strategies — There are many types of breathing techniques that can help you lower your heart rate, calm you down and clear your mind. Even taking deep breaths in moments of heightened stress can help.
• Create margin — One of the most common sources of stress is having too much on your plate. Create margin in your life by learning how to say no, delegating tasks and making it a point to work more efficiently. When you have too much to do and not enough time in which to do it, it can feel overwhelming and create more stress.

The start of a new calendar year is a good time to start thinking about how you can protect your mental and emotional health. By learning how to use stress relief techniques, you can set yourself up for more peace of mind and more productivity moving forward.

By Meagan Kerlin for Vertu Marketing LLC

As an entrepreneur, you want to succeed. After all, success is the goal, right? By that standard, you may think that the thing you want to avoid most is failure, but that may not necessarily be true. In fact, many entrepreneurs find that their failures actually make them better because they learn from them. It is possible that the thing you should fear the most is not failing, but something else entirely — regret. While you can always learn from things you’ve done that did not go well, you can’t go back in time and take opportunities you passed over. Regrets can be haunting.

One of the most difficult aspects of owning and operating a business is knowing when you are making the right decision. Overanalyzing everything can be paralyzing, and sometimes, you have to jump in and hope for the best. While you may wish you could take back a few decisions you’ve made along the way, chances are likely that you have more regrets over what you did not do. When you look back over your career and what you have accomplished so far, you don’t want to be left wondering about what would have happened if you hadn’t missed out on some of the important opportunities and big things in both your personal and professional life.

Regrets can be more pain than any professional failures you may have had. As a results-oriented, success-driven entrepreneur, hard work and discipline are probably second nature to you, but along the way, it’s important to be sure you won’t look back with sadness or longing over what you missed. This can include things like working too much and missing out on family life, not adapting to change, or failing to admit when you’re wrong. Of course, this will depend on you, your goals and other factors unique to your situation. Ultimately, your goal should be to live and work without regrets, not avoid failure at all costs.

The most successful people aren’t afraid to fail, but they are afraid on missing out on chances and opportunities. You do not have to fear what will happen if you don’t succeed, instead, be afraid of what will happen if you never take your shot and chase your best life.

By Meagan Kerlin for Vertu Marketing LLC