Posted tagged ‘business strategy’

Should You Consider Creating a Side Hustle or Becoming an Entrepreneur?

April 26, 2017

computer, glasses picThere are hundreds if not thousands of new businesses created by bold entrepreneurs daily. Some are created as full-time entrepreneurship and others are entered just as a way to earn additional revenue in the form of a  side hustles. Some of of these opportunities readily come to mind, while others may not be as quickly thought of or they may not even exist, yet. After all, who knows when and where the next big thing will emerge?

I’ve taken a moment to compile a list of businesses or side hustles you can consider as an entrepreneur either as a part-time side hustle/venture or as a full-time business. Why not explore some of the ventures I’ve listed here?

  • Business plan services
  • Copy Writer
  • Mystery Shopper
  • Business Presentation Developer
  • Business Support Services (I turned this into a full-time business)
  • Business Form template Creator
  • Career and Personal Coach
  • Freelance Sales Consultant or Coach
  • Headhunter Service
  • Home Offie Planner
  • Web Designer
  • Affiliate Marketing
  • Airbnb
  • Brand Ambassadorship
  • Write a Book (I did, you can, too!)
  • Teach English as a Second Language
  • Freelance Photographer
  • Artist
  • Pet sitter or groomer (Pets are a billion dollar business)
  • Personal Trainer
  • Yoga Teacher

This list is just the tip of the proverbial iceburg. You can explore these and the many more that exist. What I wanted to accomplish was to get you thinking of what you could do to change your current budget for the better. In today’s world, both virtual and real, there are so many more avenues that can be explored, many from home.

Yes, the economy is certainly improving for many. Unfortunately, others have given up on their dreams. It’s not too late to look into developing something new or something that will augment your current finances. You can tackle that entrepreneurial venture you have always thought of pursuing. Many who partner with me have business ventures of their own.

If you are still on the fringes of unemployment or you are underemployment (and many are), there are other avenues available to you which require little to no money to start. Side hustles are valuable; new businesses are possible. It does, however, take research and tenacity to get your new venture moving. Being an entrepreneur does not have to be risky business if you have a plan and you diligently work at the plan. The same goes for having a side hustle.

Give a new venture some thought. Either way, Exceptional can assist you with that new venture. We can help with your strategic plan, accounting needs, even with your social media. It goes without saying, if you have transcription needs, we are the company to turn to.

Leave a comment if you have thoughts on starting a new business or venturing into a side hustle.

Why You Need a Business Checkup

March 25, 2014

file000600920260Business checkups are an essential part of any business, whether you are a solo entrepreneur or a  small, medium or large business owner. A business checkup is similar to a health checkup because it takes the temperature and pulse of your business; it let’s you know whether you are doing well or if there is some problem that is looming and needs attention now rather than later.

If you prepared your strategic plan for the year in January, or even if you are just getting to it now, including timelines for doing a thorough check of the important aspects of your business is crucial. It is good business practice. As a business owner, and as someone who offers solutions to businesses, I suggest that quarterly is the opportune time to take a look at the goals you have set for your business and for looking at any obstacles that may be in the way of success. You do not want to reach the end of the year and find that you have not even come close to what you expected to accomplish.

I have provided a checklist to make it easy for you to perform that business checkup. The checklist is not in any particular order. If not all applies to your business each quarter, that’s ok, but I suggest you look at what does apply and schedule your checkup on a regular basis, starting now:

  1. Examine the number of customers and orders. Do you show an increase or decrease in the request for your product or services? What is your conversion rate of prospects who become customers purchasing your services or product?
  2. What is the sales trend? Is there a lot of activity in one particular aspect of your business over another? Can you tell why that is?
  3. Analyze your prices compared to that the prices of your competitors. Are you still in line with industry standards?
  4. Are your quarterly goals in line with expectations?
  5. Have you aggressively implemented your marketing  goals? Have your correctly identified your target market and are you reaching them?
  6. Have you conducted or scheduled a client satisfaction survey?
  7. Take a look at the health of your website. Search engines love relevance and activity. Schedule that activity quarterly, if not more often.
  8. Take a hard look at cash flow and your projections.
  9. Inventory your marketing materials. Replace and update as needed.
  10. Consult your tax accountant to be sure you are taking advantage of being a business owner.

The bottom line is that your business must be profitable and growing. You can not know this if you are not keeping your eyes on the health of your business. Don’t wait to conduct that business checkup at the end of the year. By then, it is too late to make any adjustments to your business strategy.

Here’s to the health of your business!

Be Exceptional!

Audrey

CEO, Exceptional Transcription and Business Solutions

Year’s End

December 30, 2013

FireworksAudreyIMG_20130703_213335_159The end of the year is always such a busy time. It is a  time for connections, reflections and evaluations. In a short span of time, holidays are celebrated, one after the other. As we celebrate with close family and friends, we act on the urge to connect with friends and associates that we may not have contacted  all year long.

If you own a business, this is also the time of the year you are closing out your books and evaluating your progress. You are probably analyzing the successes and the challenges.

Exceptional Transcription and Business Solutions had its share of triumphs, but we had unexpected challenges, as well, and we  had to find  new ways to cope with them.

One of the most difficult challenges was dealing with the death of a long time client.  No one ever mentioned how to deal with such a challenge in the business context.  The news of the client’s death came as a blow. It was an impact I never anticipated.

The relationship was built on business and this special customer was a part of the team.   At ETBS, we were definitely a part of his team, a part of his business growth and success. That requirement is included in the mission.

As CEO, I was so stunned by his death that my day was spent in personal and business evaluation. Loss will often affect you like that. You examine your own footprint and your own path.

ETBS is still small enough that we are touched intimately by the ups and downs of our customers. But even if we were much larger, because we are providing a needed service, our customers’ challenges and triumphs will always touch us personally, no matter the size we reach.

I have nurtured my business, watching it grow, celebrating the milestones and tackling the challenges.

In the coming months, Exceptional will reach another milestone, address another challenge, as we continue to explore better ways to serve our customers.

For right now, the reflection continues as I set my goals for the New Year and beyond. Underneath it  all, I will remember with appreciation and fondness one of my first customers. He will always be special.

Be Exceptional,

Audrey

CEO & Founder Exceptional Transcription and Business Solutions