Month: September 2021

You may be one of the many people who dream of owning and operating their own business someday. For many, entrepreneurship is the American dream. They want to be their own boss, making their own rules and working for themselves. Having this desire and making the choice to start a business is only the first step. Before you move forward, you need to do a bit of planning and preparation, as starting a business involves much more than just having a good idea and a Facebook page.

There are several important factors to consider before you launch a new company. First, what will your business have to offer that other companies are not already offering? What will set you apart? You may have a specific skill, talent or hobby that you are very good at, but that does not always translate into a successful business. You need a thorough business plan that outlines how you will take this skill and turn it into a profitable business strategy.

Second, you will need to evaluate the market. Who will buy your products, or who will benefit from your services? Is there a need for what you have to offer? What will you charge customers and clients? These questions can help you evaluate how to create a business plan that will be sustainable for a profitable business. Knowing the answers to these questions in advance will help you be organized and efficient as you launch your company.

Even with the best business idea and carefully crafted business plan, success is not guaranteed. It is important to remember that many small businesses don’t make it past the first year. This underlines the importance of being prepared and organized before you officially open for business. Your time of preparation, research and consideration will help you decide if this is the right time for you to start your small business.

As life begins to return to normal in many ways, companies are considering how to get employees back to the traditional in-person work setting. While in-person work has its merits, and the office environment does allow for more cohesive teamwork, some employees are pushing back against mandates to return to the office. Many employees have been working remotely for two years, and they may not believe it is necessary or safe to return to a pre-COVID office environment.

Some companies are mandating that all employees return to the office. These same companies are seeing a high rate of personnel turnover and backlash. Major businesses, such as Google and Uber, have backed away from these mandates after significant negative feedback, allowing employees to work remotely. Many others have hybrid schedules that balance both in-person and virtual work. Still, it seems that too many employers may be pushing a return to the office without considering how this could impact their employees.

There is evidence proving that in-person work is not necessary in order to do many types of jobs well. Employees are often able to meet most or all of the requirements of their jobs by working from home. In fact, there is evidence that employees are often more productive when they are able to work from home. Business leaders have to adjust to the reality that a traditional office setting may no longer be useful, necessary or productive in the way it was pre-COVID.

Employers who want to succeed in this new business world would be wise to consider how to keep employees happy while also encouraging productivity. If this means allowing more remote work, rotating schedules or different types of hybrid schedules, flexibility and creative thinking will be key. Innovation and focusing on the physical and mental well-being of employees will allow companies to balance different types of work schedules while still moving forward.

In many ways, experience is the most important tool entrepreneurs can have. Experience can color virtually every decision and idea, which can give older individuals an edge when it comes to succeeding in the business world. While some may look at age as a disadvantage, the opposite is actually true, as life experience and the skills you gained through the years will put you in a better position to meet your goals.

Younger entrepreneurs will naturally have a different perspective on things. They will approach problems differently, and they may even have different goals. A younger individual may be primarily focused on making a profit as soon as possible, while someone older may have more well-rounded goals, such as achieving long-term stability. Older entrepreneurs know how to play the long game, having the ability to rely on lessons learned from earlier in their careers.

Older entrepreneurs have likely already honed their leadership and management skills. It’s likely they have already been in positions that allowed them to make decisions, manage others, lead initiatives and deal with problems. This type of experience is truly invaluable, especially in situations that are complex or difficult to manage. An older person is more likely to have the knowledge and skills necessary to navigate challenges associated with difficult co-workers, clients or employees.

Entrepreneurs who are older have different perspectives and skills, and these are two intangible things that can make a significant difference in one’s success. If you think you are too old to try something new or start your own business, chances are you are selling yourself short. Instead of viewing your age as something that could hold you back, think of your age a valuable tool that not only sets you apart but also gives you an advantage.

By Meagan Kerlin for Vertu Marketing LLC