Business And Economics

Being in business as an entrepreneur or entrepreneur does require the expertise to make the most of all the resources and make them worth something.

As many people know, some of today’s big business starts from a small place with minimal capital. Just as Microsoft’s IT giant started its business from a car garage or Facebook that first runs in a dormitory.

Little did we hear of many small entrepreneurs and started pioneering often complaining and blaming themselves or their rivals for losing business competition. Well, here is what to consider really by entrepreneurs in order to win the market competition.

Find Out Business Knowledge as much as possible

The main problem that is generally experienced by entrepreneurs is the insight or knowledge of business that is less mature and perfect. This business knowledge is about how to start a business, create a simple plan, designing the right marketing, branding, packaging, product distribution, to simple things and corporate administration.

Often beginner entrepreneurs do not have many years of the basics of business knowledge. Though this is a major investment and very valuable for business continuity.

This source of business knowledge can be easily obtained. Could by following a business seminar or forum of young entrepreneurs. Especially now access to information via the internet is very easy. All this business knowledge can be obtained easily without having to spend a lot of money. We can also join the entrepreneurial community to get business sciences from experienced ones.

Build and Expand Market and Distribution

Many factors determine whether a product is in demand or does not sell well. Starting a matter of promotion to prospective consumers or product marketing flow. However, the most important factor of whether or not the product depends on the location of the sale and the distribution of the product to the consumer.

Often the constraints faced by small entrepreneurs are the limitations of capital to open their own stores or do distribution so that products can be seen and purchased by consumers. This limitation can be handled by utilizing internet technology that is now a trend. Beginner entrepreneurs should also develop marketing and branding online to all social media and internet marketing media, including using the online store platform.

With online marketing, we can market products without geographical restrictions. Of course very profitable for entrepreneurs. Only, we need to build an online marketing network well so that consumer product search always leads to our products.

Manage Capital with Cash Flow Management

Starting a business requires capital and investment. In order for business to continue running and developing, the capital must be managed properly. Do not get too much expenditure to the extent of capital obtained from borrowing, but the business has not made a profit that can cover the debt.

 It would be nice to have your own capital to fund the business run. However, there are certain times, loans are really needed and taking out a loan is not something wrong. Good financial management is by focusing on sales and how to apply cash flow well. If you get a profit, some can be used to increase the business to be larger so that income increases. Loans for business gradually pay off until paid off.

Utilizing Technology that is Becoming a Trend

Today’s modern age with technological advances, internet availability, and the digital world also benefit beginner entrepreneurs. Although small entrepreneurs, with the power of technology we can still compete with big businessmen who already have a name. In this case, it takes careful use of existing technology. Condition is quite easy. We simply invest in a computer or smartphone. No need to be sophisticated, enough that can operate well some frequently used software.

Develop and Create Financial Administration and Business Legality

In running a business, making financial administration is very important. The development of this business that requires the creation of good financial administration from the beginning pioneered the business so that no problem will occur later.

Especially if there are investors who are interested in investing in our business or cooperation with other parties. In addition, do not forget about the legality of permits and registration of brands, logos, patents legal entities, and so forth. This is so that there is no legal dispute or stumble problem if our business grow bigger later.

Establish friendship as wide as possible

Being friends and having lots of acquaintances really gives many advantages. Especially when starting a business, the more friends, the easier it is to run the business. By making friends, we can learn many new things that science can apply to the business. Or maybe there are friends who have important information related to the availability of raw materials of cheap quality products. Can also start from a friend to be a business partner. Most …

Building a business with colleagues is no stranger to our hearing, because some people often choose to work together in building their business, whether it be with family or even colleagues. This will require some careful preparation, since this cooperation will bring together two different thoughts in one effort.

It’s not that easy, because everyone will have different views on things, including you and your co-workers who will be partners in the business. Think carefully from the beginning, is it really ready to start a business along with co-workers?

A good amount of preparation will be needed in a joint venture, especially if both of you are new to starting a business for the first time. This should be a consideration with your potential partner, so that one day it can be really ready to face some of the obstacles that may be facing at any time.

Strong mental and hard work from you and your colleagues will certainly be needed in this case, so that business can run well in the future. Make sure you and your colleagues have good communication, so the various problems and constraints that will arise later can be solved together.

Consider some of the following tips, which are important to be observed when will build a business with colleagues:

Clear Rules and Legitimate Agreements

Businesses that are built together will certainly involve a number of joint capital as well, and this becomes a must-talk from the beginning. Money is often a sensitive issue, so it is important to set the rules and also the various business policies well.

Do not let you consider this a trivial matter, because smooth or not a business trip will certainly begin with a number of policies that are applied appropriately from the beginning.

Talk about it alone is not enough, you also have to make a valid letter of agreement for the business that will run both. It is very important to keep the rights and obligations together in the future. As time goes by, things can change, including your thinking as well as your colleagues. To that end, anticipate conflicts precisely, namely by creating a letter of legal cooperation agreement.

Understand Each Capability From The Beginning

Whatever type of business will be run together, of course this will require the ability of both of you as the owner. For that, better understand your skills with colleagues. Do not run a business that is not fully controlled with the colleague, because this could cause a number of losses in the future.

Choose the type of business that is able to be mastered both, at least this will be very helpful to be able to overcome the problems and other obstacles that may arise in the future.

Have a Vision and Mission in Line

Not just the ability alone, but you and your colleagues must have a vision and mission in line. Discuss this well from the beginning, so you can both pursue the best things for the progress of the business.

Do not let you and your colleagues do not have the same vision and mission, because this will make both of you likely to run the business haphazardly. If it’s like this, then a number of conflicts and losses will very likely arise and disrupt everything, right?

Proper Division of Duties and Occupations

Existing tasks should also be shared equally, so that both of you will have the same responsibility in the business. Your ability as well as your colleagues is very different, so it can allow you to share positions more easily.

Adjust your ability and colleagues with positions that must be filled within the company, so that all work can be handled effectively. Make sure both of you will occupy the position that should, meaning in accordance with the ability and also the needs of the company.

Get Familiarized with a Healthy Debate

No business runs smoothly with no constraints at all, nor will your efforts. A number of obstacles are very likely to arise and make you disagree in the future, this is very natural, but it needs a very precise solution.

Get in the habit of communicating and even arguing with health, so you and your co-workers can solve various problems in the company together. Do not harbor a number of problems without solving them first, because this could trigger a break at some time.

Build Trust and Run a Business Professionally

When doing business, you must have confidence in business associates. This will build a sense of belonging and need between you and your colleagues, so both parties will keep each other up and do the best for the business it is running.

Finance and Transparent Bookkeeping

Do not forget to have transparent financial arrangements, including bookkeeping in the business you both …

 We often see in social media postings like Instagram an artist or a famous character wearing a particular product and offering it to their follower. Another example that just hits when President Joko Widodo wearing a bomber jacket, then in a short time many people looking for the right jacket worn by the President. This is an example of the power of attraction or the taste of people following what is being worn by the idol figure.

You can imagine if our products are used by figures with the number of fans or followers Instagram millions, in addition to get feedback from followers the character can also increase sales. All it takes is to give the character free of charge some of the best product samples for the character. He will use our products and post his photos on social media, either for free or for endorsement.

Not only that. If we ever know the quiz contest or giveaway that give the gift of a product for free with a fantastic amount. Perhaps you’ve been thinking of handing out products for free will lower revenue.

Moreover, the value of products that are used as gifts is quite large, may think better used as advertising costs. However, the disadvantages of giving products for free are not necessarily true. There are several benefits that can be obtained by distributing products for free, including as follows:

Increase Awareness

As a new product, many people who have never known or seen even use your product. By dividing product samples for free, they can use and feel directly the product. At that time they will make an assessment of the product and certainly understand the product well.

The next consumer will decide to buy our product for the first time or leave it. For that, even if only sample products, give us our best product to fall in love with the first time.

Creating Mutual Feelings

Starting a new business by dividing a free sample product is not a disadvantage. Usually there will be reciprocity when sampling the product to the consumer. If the consumer is unsuited but interested in our product, the consumer will recommend the product to others. Of course they also feel lucky to get an award of a gift product.

Get Feedback and Review

The sample product that we give to the consumer free of charge will bear good feedback for our business continuity. They will voluntarily provide feedback even we also get testimonials from the use of our products, which we can display on our website page. Not to mention if it turns out the person we give a sample is a blogger, youtuber, vlogger, or even a program.

If they can volunteer to write a review of our products, our impact is helpful to promote our products indirectly to their readers or media viewers. Respect every input to the product for the future will be better and perfect in accordance with what is needed by consumers and market. This can help increase sales.

Knowing the Potential Product

If planning to sell various kinds, then by giving product samples to the consumer, we will know the products that interest many people. Finally we can conclude and predict which products will be selling in the market later. So avoid the mistakes too much raw material for the product that was not much demand.

We can also optimize in certain products based on sampling program of the most popular product type. With the sampling program, we can create a best seller product by keeping cash flow securely and low risk.

Make Friends

Samples of products can also be given as gifts to anyone we just know. In addition to this new acquaintance who is interested in our business, giving this gift will also help bring closer friendship. It could also be when there are friends or consumers who birthday we can give him a gift of the best product. In addition to making the hearts of our friends happy and feel special, there is added value to the product and the willingness of the heart to us as a businessman.

Obtain Product Endorsement

When sending samples of special products to blog authors or selebgrams, they may be very appreciative of us. If lucky, they do not hesitate to write a review after using the sample product earlier. Often also equipped with post photos and our products in social media. Of course, fans of writers and the program will be curious about the product used by his idol. Product names are becoming more popular.

Optimize Social Media

The power of the digital world, especially social media today, should not be underestimated. Simple example simply by using hashtag # giveaway product and invite follower to spread information. In general, everything that is free is …