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Making Your Purpose Work for You

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Whether your purpose is to provide education to the underprivileged, to help others realize their goals or to create a new piece of tech that will revolutionize the future, it can be utilized to create a growing and thriving startup.

Before romanticizing the notion too much, it is important to remember that starting a new business still takes a certain amount of work and effort that is not erased simply because you are also working within your passion and purpose. However, with the right techniques, you can keep your purpose working for you to help push your business forward.

 

The Business Plan

Okay, so all that hard work and effort is still there, but it can be easier and even more enjoyable when you know that you are not just working for a good cause, you are working for a purpose. Instead of starting a business with a purpose in mind, let the purpose be the foundation upon which everything else is built. This means that your purpose needs to be clear from the very beginning, so make sure it makes an appearance in the business plan.

 

The Products

If your purpose is not shining through the products, then it is not working for you. Think of your purpose as what makes you feel most alive or thrilled, and ask yourself if your product is doing the same. If not, then your customers will not either. All of the flashy websites and target marketing in the world cannot make up for a product that is subpar or lacking in some way.

 

 

 

The Outreach

If you built your business in the online world, be prepared to start interacting there. Consumers expect their favorite brands, businesses and companies to play an active role online, mostly through social media. A few funny quips posted on Twitter or a viral photo or two shared on Facebook are not enough to get your target demographic excited and pumped about not only your products, but about what you are doing. Make sure your online presence counts.

If your business is floundering, take a moment to step back and ask yourself the following: Is my purpose working for me?

For a Solid Finish to 2015, Start Now

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Even if the close of your business’s fiscal year does not coincide with the New Year, finishing out 2015 with a strong bottom line is still a positive and attainable goal to make. However, setting a goal is one thing, seeing it through is another.

To be wholly committed to realizing an end-of-the-year goal, businesses have to be ready and capable to take action early. While the holiday season might still be a few months away, taking these steps now can have your business finishing out the year with a bang:

     1.Make it personal. Customers crave products and services that are unique in some way and are set apart from the crowd. Whether this is implemented on the website, in the product or even in shipping offers, find a way to make the business stand out.

     2.Narrow your target customers. Having a one-size-fits-all type of product that appeals to a wide range of customers might be the dream, but, so far, that dream is still far from reality. Don’t waste valuable marketing time and money on demographics who have no interest in your product. Instead, fuel those assets toward your target customers.

     3.Utilize freelancers and independent contractors. Hiring full-time employees might be a future goal for your business, but, if it is struggling, take advantage of the cost benefits of bringing in a freelancer. Independent contractors and freelancers can accomplish a wide variety of tasks, leaving you without the burden of medical costs or payroll taxes.

By narrowing your focus and pooling your resources where they count, you can see an enormous amount of change and growth in your business in only a few months. If you are prepared to help build your business up to the next level by the end of the year, make a plan with smaller goals that can be met along the way. As you meet each minor, short-term goal, you’ll be one step closer to starting the next year off on the right foot.

One-Size-Fits-All Doesn’t Apply to Growing Wealth

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Nearly every business owner in the world has a different reason for striking out into the world of online entrepreneurship. While various goals might coincide, such as a secure financial future or the hope of making a change, overall, each and every entrepreneur is uniquely different, and therefore has unique needs.

For those who are truly set out to secure a more stable and reliable source of income and wealth, minor goals can help refine the steps taken in order to get there. Is the wealth wanted for a good retirement or to be able to take yearly vacations? This can be the difference between funneling money into a Roth IRA or opting for a more accessible account that still yields a high-interest return.

An entrepreneur more focused on living a comfortable life through a successful business should still be sure to establish a retirement account, but he or she might be less inclined to deposit anything over what was previously budgeted. Instead, net profits from the business can (and often should) be reinvested in order to grow and expand income. Investments are often a good route to take, although these types of financial moves should be small and reserved until there is a larger and more secure pool of income.

Those looking forward to a relaxed and financially stable retirement might instead put a portion of unexpected extra income into their retirement account, although proper investments can still be a benefit here. Minor investments routinely made during the course of a business’s life can help bring in additional income that can be utilized wherever necessary.

Just because two entrepreneurs have the same goal of using their business to grow a solid financial platform, the road to get there can be very different for each. Our two business owners — one who yearned for a more lavish lifestyle and one who hoped to retire without worry — both utilized retirement savings and investments, but to very different degrees to realize their own personal versions of their goals.

Niche Marketing With Facebook

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If you own a business with a small niche, you know how important it is, not just to connect with people, but to connect with the right person. The success of your business very likely depends on customers beyond your local market–but how do you find them?

Facebook is an incredibly useful tool for businesses of all kinds, but it can be a lifeline for those who need to market to a specific audience. Through boosted posts and targeted advertising, people from across the country, and even the world, can connect with your business. While Facebook is easy to use and free, it is vital that business owners consider how to use this tool well. If you are marketing to a niche audience, consider the following:

  • Your business page is the key to a positive online presence. Any business page should be managed well, with basic information posted and frequent interaction with customers.
  • Facebook provides tools, such as Audience and Ad Insights, that allow for you to create content that is useful, informative and relevant for your targeted audience. We can help you use these tools in the right way and create content that is optimal for your goals.
  • Get to know your audience–find out what they want, what they are looking for and what your business can offer to keep them coming back for more.

Niche marketing through Facebook may be important for your business, but it doesn’t have to be overwhelming. The team at Virtue Marketing wants to help you reach the right audience for your business. We understand how to use Facebook for your benefit, and we are committed to your success and are ready to help.

Thriving Businesses Need More than Capital

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Being your own boss and striking out into the world of online entrepreneurship is certainly a lucrative opportunity, but many people seem to be operating under the false pretense that you need an enormous amount of cash just to get to the starting point. Admittedly, a decent sum of startup fundingis certainly beneficial, but the reality is that one of the best foundations for business is the founder’s hard work, skills and dedication. This means that in addition to whatever startup capital a business has, it also thrives on:

Passion

Starting a business to make money is all well and good, but embarking on a new business venture to grow wealth and pursue and fulfill a passion is even better. The most successful business owners start with what they know and love, and that passion usually shines through their product.

Internet Savvy

A website by itself won’t cut it anymore. To truly succeed online, entrepreneurs need to understand how social media, search engines and service marketplace websites influence the ebb and flow of potential customers. The Internet is a big place, and a business doesn’t have to be in every corner, but there’s certainly plenty of room to spread out.

 

Networking Skills

Now that a business has a presence in a number of places online, it’s time to get the conversation going. There may be few greater turn-offs to potential customers than an empty Twitter feed or an abandoned social media page. The Internet is more than just host to the business, it is also the platform to connect with other entrepreneurs, suppliers and customers.

Instead of waiting until startup capital hits an unimaginable number, entrepreneurs and business owners who have not only survived but thrived in the online business world understand that it takes more than money to build a business.

Keep your Wealth on Track with the Right Frame of Mind

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street signs in a tangle of highways

Just how much can the right frame of mind influence future wealth? It might play a larger role than many people think. Indeed, keeping both eyes on the goal of building wealth through a successful business venture is perhaps one of the most underrated and underutilized techniques for realizing the true wealth potential of a startup.

While this certainly does not mean that business owners should sit back, kick their feet up and wait for their envisioned wealth to drop into their lap, it does mean that taking the time to visualize a goal is needed. What milestones will be hit along the way? Where should the business be at certain time intervals to remain on track?

A million little things often seem to draw the attention of a founder or owner of a brand new business, and it can be frighteningly easy to start veering off track toward a goal while dealing with the hundredth problem in a single morning.

So what’s one of the best ways to stay on target for that goal?

Delegate.

Okay, in the beginning there might not be the immediate funds to bring in the needed help, but as soon as the money is available, get the help and get it immediately. With managers, supervisors and, when necessary, assistants are caring for and managing the day-to-day minor details, an owner can keep his or her mind on the big picture and the final goal — growing wealth. Otherwise, business owners can find themselves plugging away day after day with their minds wandering dangerously far off the paths to their dreams of success and financial independence.

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