The Practicalities Of Running A Business, and How To Get Them Right

Businesses don’t just need clever salespeople or product development specialists. They also need the folks in charge to be able to think in a practical and logical way. This is because there are a lot of practical as well as a theoretical issue that needs sorting when running a business, especially a profitable one. To find out what they are, continue reading.


Funding

The first major practical hurdle that most business people come across is raising enough funding to get their business off the ground.  This is vital because without this your business is just another clever idea that isn’t going anywhere.

But how can you ensure your funders pick your idea to pour their money into? Well, first of all, you need to select the right platform. For example, while some companies would do better making a pitched presentation to a corporate sponsor. Others may do better trying to raise the cost of their start-up incrementally via platforms like https://www.kickstarter.com/.

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In particular, this will work if you already have a large social media following and customer are expressing genuine interest in your new product.

However, if you do decide to go down the traditional pitch route, the best thing you can do is to ensure that you are getting your pitch right. If the company is a serious one, then pitch should be serious. If they are entertainment based, then highlight the advantages of what you are doing in this area. Remember personalized pitches get funded, general, boring ones don’t.

 

Location and Buildings

Something else that many businesses will need to consider is the location in which they will be working. As only very small percentage can work from a home environment, and only for a short amount of time before things start to become untenable.

That is why you need someone out there looking for a great commercial lease that would suit your businesses needs. However, before you sign on the dotted line, make sure that you have also looked at the costs of constructing your commercial buildings with the help of companies like http://fsconstructionservices.com/buildings/. As it can be much more reasonable than you think and you get a workspace that is customized to your specific needs.

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Workforce

Next, a very practical issue that needs to be sorted no matter what the size of your company is, is employing a workforce. In fact, this is one of the things that can take the most time and effort because it’s vital to get the right people in the right position, for your business to be a success.

But how can you do this? Well if you are pushed for time you can use an agency. But you will pay for their services, while you employee sees little of this money.

So, if you have the time to devote to it, it’s much better to interview face to face. Then you can pass on most of the financial incentives to your employees. Allowing you to get a much better candidate for the amount of money

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About Dequiana Jackson

Dequiana Jackson, CEO of Inspired Marketing, Inc., is a small business marketing coach who shows women entrepreneurs how to use solid marketing strategies to turn their life’s passion into a profitable, service-based business. Dequiana is the author of Know Your Business: How to Attract Ideal Clients & Sell More and runs the award-winning blog, Entrepreneur-Resources.net.

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