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If there is a huge demand for your product or service, then you can create a business out of it. But can you scale your business? Some businesses are scalable, meaning they can grow income exponentially. Others are not open to growth, but they generate a reliable income which is not lucrative.

Here’s how to know if your business is scalable:

1. Operating Leverage

Businesses that scale have operating leverages. If your business’s operating costs go up at the same rate as your revenue grows, then your business is not scalable. But, if additional revenues need moderately small additions to operating costs, congratulations – your business is scalable!

2. Your Business Is Scalable If It Can Handle a Sudden Increase

Most service-based companies depend on talented employees and customized solutions, which makes it hard for them to handle a sudden increase in new sales or customers. These businesses can’t handle an increase in demand, so they aren’t easily scalable.

For a technology company, its core product can serve millions of customers because you just need to increase bandwidth and hardware to handle an increased load. This company is scalable as it can deal with a sudden influx in clients.

3. It’s Positioned in a Large Market

If your company is positioned in a large market and it can take market share from others, then it’s scalable. However, if there isn’t a huge demand for your core product, then it means that your company can’t scale even though you have a systematic process of producing the product.

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4. Is Your Business Systematized to Run without You?

One reason most small businesses are not scalable is because most can’t operate without the owner. So, the business isn’t scalable because the business owner isn’t scalable. If your company needs you and your effort, it’s not scalable. It’s an incorporated career.

For a business to be scalable, it should be able to operate without the owner. This is good for you because you get more time to work on big projects or start new projects.

5. Can Your Business Produce a Consistent and Predictable Result for Clients?

There’s nothing wrong with running a service-based company. The only problem is that it’s difficult for the business to scale because you need a customized solution for each client. A customized solution can’t offer a predictable and consistent result as it’s not repeatable. So, for your business to scale you need to learn to take what you do and produce a process which can be applied repeatedly to offer a consistent and predictable result to different clients.

As an entrepreneur, you have likely dealt with many failures. It’s part of the job. Success doesn’t come to those who wait – it comes to those who go out and get want they want. You don’t want to the person who waits for things and gets what’s left by those who hustle – be a hustler yourself!

It’s easy to form this habit. Believe in yourself and be determined.

4 Practices that Can Improve Your Hustle

1. Never Lean Back

A hustler pursues success and consistently get things done. One way to improve your hustle and become better than you already are is by setting bold goals. Set goals that are challenging and uncertain. These goals may not work, but working towards something scary is part of the hustle. Setting a brave goal and doing everything to achieve it is a sign of a hustler.

By not leaning back, you work to achieve your pursuit of success. It’s not about feeling like you don’t have enough. It’s about working to grow yourself and your business daily.

2. Market & Promote Yourself

Self-promotion helps to improve your hustle. There is a thin line between complete humility and being a jerk in self-promotion. Don’t fill your social media and blog with personal achievements. Instead, be dedicated to promoting your business. Tell people what you’re up to.

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Be sure about your business’s success because it’s hard to hustle in something you don’t believe in. So be confident in self-promotion and believe in yourself and your company.

3. Don’t be Afraid of Criticism

Putting yourself out there is risky. Be ready to deal with the haters and don’t let them discourage you. A hustler should be able to brush off rejection and negative feedback without being upset.

Respond to negative feedback, answer harsh critics, and pitch to investors who are less interested in your service or product. Do everything you can to grow your business. Remember, no matter what you do, you can’t escape dealing with haters and critics. Do you want your business to succeed? Then ignore haters.

To improve your hustle, you should be able to brush off negative feedback, bad advice, and even criticism from loved ones. Focus on doing what it takes to grow your business and don’t be worried about how others view you.

4. Don’t Make Excuses

If you want to improve your hustle and take your business to the next level, you should be ready to outwork everyone. A successful start-up needs a lot of time and effort, so prepare to put in the work, making no excuses.

As you work hard and hustle more, your luck will improve and you’ll learn to work smart.

Even as your hustle becomes better, you’re not guaranteed to avoid encountering failure. If you fail, take responsibility and move on. Your goal is to have a successful company, so failure shouldn’t deter you. Make no excuses for failure!

Momentum in business is feeling like everything is falling into place. You feel unstoppable and everything works out your way.

How to Use Momentum to Your Advantage

Begin with your goals. Start by asking, “What do I want to accomplish?” Set clear and precise goals, because the more precise you are, the easier it becomes to move forward.

It’s easier to take actions if you have a clear vision. And you can use your goals as “fuel” to build momentum. The cycle continues because increased momentum will fuel new goals, and new goals will build more momentum. This is why your momentum is important.

Losing momentum makes you lose focus, and it becomes hard to get things done.

To maintain momentum, keep fueling the engine even though you’re already moving at your desired speed. Many people stop adding fuel as soon as they reach that speed. This causes them to lose momentum gradually and before they know it, they’re standing still. And they lose their focus.

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4 Tips on Building Momentum

1. Believe

Believing is the difference between a world changer and a naysayer – people who believe they can change the world and those who remain stagnant. Let no one steal your belief because it is the fuel behind every success.

2. Get a quick win

Success is contagious. When we succeed at something, we believe we’ll keep succeeding. In your journey to do extraordinary things, don’t go for the mountain – start by conquering an anthill. This quick win will set the tone and lay a foundation for future achievements.

3. Build on results

There is a huge difference between actions and results. Many people focus on accomplishing things that don’t help them move closer to their goals. Spend your time and energy on actions that produce results. Those that move you closer to your goals. Every result enables us to see a little further and believe more.

4. Maintain a level head

The journey to achieving your goals is full of challenges, but always keep things in perspective. Don’t get too excited when things are good and don’t get too low when things are bad. If you keep moving, you’ll eventually achieve your goals.

Momentum provides an easier and more efficient form of growth. However, you need the ambition to break from using more resources to fuel it. Because the things that seem to push you forward are the same things pulling you back. Momentum doesn’t happen by chance, and nor is it willed into existence. To achieve momentum, you need to understand its source, and then relentlessly fuel it.

The best business strategy is one that leverages a business’s strengths for the greatest profit and yields the highest return on investment. A business must identify and execute a clear strategy to beat the competition and survive in the long term.

Here are 4 business strategies you may not have thought about.

1. Growth Strategy

Many businesses plan to grow and increase their sales and profits. But there are certain methods businesses must use to implement a growth strategy. The method an enterprise uses to expand its business primarily depends on its financial situation, the competition, and even government regulations.

One type of growth strategy is market penetration. Businesses use a market penetration strategy when marketing existing products within the same market they’ve been marketing to before. If you want to grow and expand when using existing products and markets, increase your market share. And, one way to increase market share is by lowering prices.

2. Differentiation Strategy

Differentiation strategy involves making your products/services different from and more attractive than those of your competitors. To do this, you must consider the nature of your industry and of your products or services. This primarily depends on features, functionality, support, durability, and providing a brand image that your target audience values.

To execute the differentiation strategy successfully, you need to conduct extensive research, and you must have the ability to deliver high-quality products/services. Also, you’ll require an effective sales and marketing strategy to make sure the market understands the benefits offered by the differentiated products/services.

Further More: https://businessnewsbill.com/

3. Exit Strategy

You’re probably focused on building your business, not the day you’ll leave it. And to some extent, an exit strategy sounds bad. However, the best reason for having an exit strategy is to plan how to capitalize on a good situation, instead of getting out of a bad one. An exit strategy allows you to run your business and focus your energy and efforts on things that make it better and more appealing to acquirers and buyers you target.

Whichever exit strategy you choose, start working on it early. Planning early gives you enough time to do it right and maximize your returns.

4. Pricing Strategy

Determining the right price for your products is the most crucial decision you’ll make as a business owner.

There are many factors that determine the right pricing strategy. Sometimes, having the lowest price is not a strong position for a business because customers are likely to perceive their products/services as low quality.

Equally, it’s crucial for companies to price their products and services effectively to avoid situations where their prices take a hit because of being relatively high compared to those of their competitors. Also, businesses should avoid keeping their prices too low to maximize profits or avoid making losses.

As society evolves, we develop and think of new products. And as new products come to the market, we need to think of better ways to sell them. Thanks to the Internet, everything is different nowadays than it was 50 years ago, for example. This has caused new types of marketing to arise.

Regular marketing is pretty straightforward. You choose a product and define a specific sector of the population to target. Then, you simply make traditional ads. They can come in TV commercials, sponsoring famous people or through printed publicity. You enhance the main features of your product directly. And the result is usually increased sales. You openly and simply state what is good about your product.

Further More: https://businessnewsbill.com/

Now that you understand what exactly is article marketing, is time for you to learn its advantages. Naturally, there are many benefits to every type of marketing. However, these are some of the most relevant:

Article marketing can be cheaper than traditional marketing: Article marketing is usually done by a team of people. Some make creative decisions, some write the articles and some pay attention to statistics to know if the articles are working. However, article marketing is still way cheaper than filming a TV commercial. Due to their nature, TV commercials are expensive to film and then expensive to show. TV still charges a lot of money per second on air. Contrastingly, articles are posted on websites and wrote for just a few dollars.
Articles can touch deeper issues: The problem with commercials or printed publicity is how much content you can get in them. A printed flyer just contains one still picture. And TV commercials are very rarely longer than a minute. While they both have impacting effects, they can’t really explain a lot. In a commercial or a picture, you have to focus on single idea. On the other hand, articles can talk about some issues in a deeper way. Retaking on the safe car example, here is the difference between traditional marketing and article marketing. A commercial could just showcase how the care is safe. It could even mention the manufacturing process or safety specifications. But the article can really appeal to people’s emotions. Reading a 1000-words-long article about car safety is bound to compel you more to buy a safe car than a 30-seconds commercial.
Articles can even attract more traffic to your website: A great secondary advantage of articles for marketing is that they draw traffic. Usually, the main purpose of the articles are to discuss about the features of your product or service. However, as articles usually discuss a topic in useful and informative manner, they can attract traffic to your website. Let’s use once again the safe car example. Someone who is already interested in buying your car can fin the articles about safety very helpful. However, there are people who are just interested in car safety. If they search for information online and they arrive at your article, you will have new traffic. And if after reading the article they become interested on your car, you will have new potential customers. Naturally, this never happens with traditional marketing as not many people search the Internet for “safe cars TV commercials”.
You should know that articles are the main focus of article marketing. However, some companies use the same channels and people they use for articles for other things. Some of the most common variations of article marketing are:

Informative articles for websites.
Experiential articles for blogs.
Formal articles for press releases.
Short and light articles for massive e-mail distribution.

Sometimes it’s hard to believe. It happens like a dream, one day you have everything and the next you’re sitting convincing yourself it’s a dream, and you will get up and move on. However, upon learning that it’s a reality that’s when the depression starts. This is a story of riches to rags and back to a stable life again. My life has been full of events, events that seem to never add up in some occasions. Sometimes I tend to wonder how I would be rich one day and live a miserable life in the other.

Every business has its up and downs, but there are sometimes where the limitations tend to overcome the benefits which may lead someone to bankruptcy. I believe this is what happened to me as a self-made millionaire who started from nothing but was overcome by various limitations. It all started with hard work or rather overworking myself. My business was based on Cryptocurrency and selling mining machines. Through this, I was able to succeed in business to a point where I had made millions. In my journey to the top, I had made several friends and enemies too. Once my hard work paid off, I would buy a new super car every two days. I became popular, and several media houses through I was a scam; some were doing whatever in their power to tarnish my name. At the time, I was too hard for the challenges; I had to keep moving on and focusing on my business. However, these claims would affect my business in one way or the other. This is because, when business was doing fairly okay, I was able to handle over 700 clients in a day. However, with time the number of clients declined. Notably, the most important thing for business is making profits and when you can’t manage, then the business is moving to a failure.

Further More: https://businessnewsbill.com/

My name was common to every person some in a bad way and others positively, each of these people giving me names, my family, for example, accused me of stealing. This was due to the influence of the media who of course regularly tarnished my name calling me a thief, a scam and many other names that were not good for business. In this case, my business started doing bad attracting several lawsuits due to the influence of the media. I, therefore, ended up being bankrupt to an extend that I could not keep up with the flashy life I once afforded. I could not even get money for cigarettes. The extravagance that I once enjoyed started being hard to find and I lost almost all my friends; I also found new ones, the people who were willing to stick with me and the people I found when all failed to work. I had such a hard time since people did not trust me, they thought this was as a result of stealing. This was a period for depression; I never thought my life would come around once again.

My key goal was achieving the best I could and manage my luxurious life, however, out of nowhere the word failure popped up from nowhere an experience that was strong enough and made me quit to start a new life. I lost everything, but I never lost the passion and determination to get back again. I still could fight for my survival despite all odds with the hope I would get back up again and achieve greatness. This time, I was convinced that once I get up, there was no going back. I had understood one thing at my early age, that being a businessman was not for the weak people at heart and that no easy path leads you to success. All it needs it hard work and commitment. I was not ready for the critics and the media wanting to take me down. I also understood that one needs to work harder than the people in the field similar to his and in the end choose my cards correctly and in an informed manner.

All the way, the desire had kept me afloat even when things were not good, during the times when I could not afford to but cigarette or even when the media were attacking me. I also learnt on the need to take time, seek for the glaring opportunities, start planning unique and innovative informed risks. I also learnt the need for independence as the power to win always starts within us and not from the people. despite the fact that my first company Tagoc PTY LTD. is still in minor debt as a Company, However im am certain that and determined it will soon rise up again. I am currently undertaking several ventures to finance the debt where I work 15-19 hours a day and 7 days a week.

Further, there is one thing that I never lost from Tagoc and that is network, which is what I’m using to get in new partners and finance our way up.

The most important lesson to learn in this case is that life will always present to use a couple of cards. We are expected to make the wisest decisions we can and decide on the best move to take that is decided on what card we need to take and what do we dispose of. The essential factor is that we play to win and we never lose. I used to feel comfortable with my first success and could enjoy anything I wanted at any time. However, lack of making hard decisions and giving a blind eye to the critics go me bankrupt and unable to sustain my situation. However, this life is determined by our ability to stand up even when hit by the strongest tides. It is not that we do not fear, what matters is how we deal with the fear and what we do to suppress it or do we let it take over us and keep us down.

The more you learn about the advantages of co-working spaces, the more it sounds too good to be true. Millions of dollars are being poured into co-working space providers. In recent months, a number of bigger space providers have either acquired smaller players to grow their customer base or purchasing office real estate to expand market reach.

When something has been hyped up over and over again, you start to wonder what could be wrong with it.

Flexible workspaces have their share of naysayers and their opinions may give you pause in patronising such establishments. However, let us help you alleviate your fears as we debunk popular myths regarding co-working spaces.

Myth: It is exclusive to freelancers and startups

Yes, it is popular among freelancers, solopreneurs, and startups but the beauty of co-working is its diversity and inclusivity. Well-established companies have started to businessnewsbill embrace co-working as well because it is an opportunity to collaborate with professionals from various sectors and to source talent as well. Flexible workspaces are ideal for networking and the more diverse it is, the more ideas and perspectives can come together to solve problems and overcome challenges.

Myth: It can be too noisy

The most cliche picture of co-working is a group of young professionals talking to each other with cups of coffee in their hands. Some do take advantage of the networking and collaborations co-working spaces can offer. However most members are there primarily to focus on writing that business proposal or designing the next big app that chatting with others is farthest from their minds. Co-working space providers also realise that they have clientele who would prefer to work privately, hence quiet or private rooms are available at most co-working spaces, in addition to common areas that are more conducive to networking activities.

Myth: It is a fad that will go the way of netbooks and flip phones

As the global workforce have become more mobile, remote working has become the norm rather than a passing trend. According to the latest Global Co-Working Survey: The 2018 Co-Working Forecast, 1.7 million people will be working in around 19,000 co-working spaces around the world by the end of 2018. Opting for flexible workspaces only benefits both employers and employees by enhancing productivity, inspiring creativity, and even reducing commuting time.

Not to mention co-working save costs and that’s why companies like Uber, Oracle, and Microsoft have started using flexible workspaces for the attractive cost-saving benefits it offers.

Myth: Networking is a must

Fear not if you’re an introvert just trying to finish your manuscript and you’re just there for the energy and not the socialising. Co-working spaces is as diverse as its members. It’s just a matter of finding the perfect workspace suited to your needs. Many co-working spaces have quiet nooks, “phone booths,” and designated private offices designed specifically for those of us who thrive working solo. Also, you can invest in a good pair of noise-cancelling headphones that can help with the isolation, and headphones on is the universal language meaning “do not disturb.”

Myth: It will cost you an arm and a leg

Flexible workspaces have cropped up in many cities worldwide and it is very likely that there is one nearby that will match your budget. In fact, co-working can save you money in the long run by eliminating other costs you might incur such as maintenance and repairs. Co-working definitely doesn’t have to break the bank. The peace of mind it offers, as opposed to stressing about a long lease or purchasing furniture and equipment for an office, is priceless.

Don’t just take our word for it — bust these myths for yourself and discover why co-working is now everyone’s cup of tea.

AnyWorkspace’s online booking platform offers short-term workspaces and meeting spaces to users who can book by the hour, daily and monthly. Users have the freedom to choose from a variety of spaces, locations and times they desire.

If you need to send a parcel for you or your business, then choosing your courier is very important. If your business is online, then the courier service you use to send goods may be the only human interaction your customers have with your company. Therefore, it is very important to choose smartly who will represent your company when delivering your parcels.

Tracking

This is a vital part of the process, as you don’t want your shipments lost or delayed with no idea where they are. When choosing what company to use always check to see if they offer a businessnewsbill tracking service. See if it can be integrated into your own site. This offers peace of mind and your customers.

Price

For small businesses and start-ups, this is a very important aspect of your business. You don’t want all your profits spent of on couriers. Take some time to look around for the best quotes. Try online comparison websites such as Parcel Direct, where they will give you the best prices for the courier service you need.

Be mindful of the fact that the best price does not always mean the best courier service. It is always a good option to get at least 3 quotes before making a decision.

Reviews

Do your homework and always check references and reviews before settling on a courier. If you choose to use a website like ParcelDirect you can read previous reviews left by past customers and make a good decision.

If you are using an independent courier, ask for customer references or check online websites like Reviews and other review sites.

Speed

This is another important aspect of your courier choice. How quickly do your customers want their item? Are you offering free delivery? Will they wait a few days? These are all important questions to ask.

If you and your customers are flexible with time then you may find a more economical and reliable courier company, that suits you, your customer and business.

Professionalism

As we mentioned, your chosen courier company may be the only human interaction with your customers. So, you really need to make sure they are professional in their job. Do they have a uniform? Do get signatures for deliveries?

The most important thing is what quality of customer service do they have. Check their policies and procedures, so you know if something does go wrong, they will solve it in a professional and friendly manner.

As a business owner, you are your business. And just doing what you’ve been doing before will only make you less productive, less fit, less healthy and you’ll lose your entrepreneurial momentum.

So, what’s the solution? It’s to create new, great, and positive business habits.

Make Things Clean and Clear

This is a problem for many entrepreneurs. Many companies don’t know how to develop healthy policies and practices.

Take the first step and identify the problem. Then implement good policies. Look over your policies. How many of them are out of date? How many need improvement? And how many need to be wiped away? Make a list of what’s important at the moment. Get rid of everything that’s not important.

Start Small

Focus on building new habits instead of worrying about their impact. For example, you may want to start the habit of flossing your teeth every night. To build a new businessnewsbill successful habit, start small: flossing just one tooth. This sounds crazy, but it works. If you build the habit of flossing just one tooth each night, three things will happen:

You’ll feel silly if you don’t do it because flossing a single tooth is easy.
You’ll likely floss more than one tooth. Starting anything is the biggest hurdle. And once you get started, it becomes easier to keep going.
You’ll create a habit. Flossing one tooth every night probably won’t make your dentist happier. But after a few weeks, the action will become a habit – something you’ll do automatically without thinking.
Once you build the habit, then you can slowly add to it. In your business, develop the habit of single-tasking. Do you struggle to stay focused? If you want to beat distractions, build the habit of working on one task at a time.
Start by doing that for ten minutes at a time. After ten minutes, take a break and allow distractions. Later, try another ten minutes of pure focus. When ten minutes become easy, work on twenty minutes at a time, and then half an hour. And, soon you’ll be able to spend an hour on a task without struggling to stay focused.

Reward Yourself

Every time you perform a new positive habit, celebrate. Reward yourself for putting in the energy. After building up enough great and positive habits, your brain goes on autopilot. It craves the reward it expects to come at the end.

Clearing the way for new and better habits means focusing on doing something small every day. And rewarding yourself every time you complete a habit reinforces the importance of doing that small thing over and over, instead of reaching for a far-off goal. For instance, if you’re trying to lose weight, daily weigh-ins can be demotivating. But celebrating every time you go to the gym will help you create a lasting habit of exercising regularly – regardless of the long-term goal.

We are all born with a lot of talent and the ability to reach our full potential and achieve greatness if we choose to.

Mindset is crucial to anyone who wants to succeed in business or in life. It affects your whole thinking, and your thinking determines your actions.

What do the world’s most successful entrepreneurs have in common apart from successful businesses? The answer is, the right mindsets. Mindset together with consistent action is the key to achieving and maintaining momentum.

So, what is mindset? It’s a mental frame that organizes and interprets businessnewsbill information in a way that helps one to understand an experience uniquely, and it guides one to take corresponding actions and responses.

The mindset we adopt affects our judgment. Change your mindset and you’ll be able to achieve all your dreams.

So, what’s the right mindset for business growth and why is it so important?

You Subconsciously Influence Those around You

Attitude, whether it’s positive or negative, is contagious. And as a business owner, your employees look up to you and your attitude influences them. So think carefully about the message you send.

Everyone – your employees, customers, investors, and suppliers – will pick up on your attitude. If you’re positive and happy, your customers and staff will be more positive, and they’ll want to do business with you. But if you’re negative, people are less likely to want to work with you.

A Positive Mindset Makes You Feel More in Control

Approaching anything in your company with a positive attitude will make you feel more calm, confident and in control, and this will help you perform better.

To maintain a positive attitude, work your way through setbacks that come up. Have time to rest and disconnect from work. As a business owner, it may be difficult to find the right balance and switch off, but mastering this will help you have a peaceful and focused mind.

Your Business Success Depends on How Much You Grow

Research and educate yourself. Broaden your horizons so that you can be better and more informed about what’s best for you and your business. Always remember that if you’re not growing, you’re only dying, and this isn’t good for your business.

Resilience Will Help You Bounce Back from Setbacks

Running a business isn’t easy. Things don’t always go as planned. There are many challenges, but what’s matters is that you shouldn’t give up no matter what happens.

Building resilience and having a positive mindset will help you overcome setbacks and keep moving forward and remain focused on your goals. Be persistent and don’t let failure prevent you from moving forward.

A Focused Mind Is more Likely to Succeed

If you lack a clear vision of your business, you probably won’t succeed in creating it. A focused mind is fundamental in maintaining the bigger picture and it will help you make the right decisions. It’s easy to get distracted and bogged down by daily tasks, but successful entrepreneurs focus and concentrate on what matters.