The Cold Hard Truth About Growing a New Business

Most new businesses start with one person and one great idea or passion. Turning this idea into a successful business is the first challenge, but the next challenge is how do you grow your new business?

One of the biggest problems with growing a new business is one which most people would never even guess. It’s not financial, finding more customers or finding bigger premises, it’s nothing like that.

The issue is trying to grow your team from a team of one (yourself) to a team of many while always knowing that no-one can do the job as well as you do.

Your First Employee

Imagine you’ve built up your new business and it’s time to expand. You’ve reached a point where you know you can no longer do everything yourself. You have to hire someone to help.

This is one of the most stressful steps in growing a new business, hiring the first employee.

By now you know the business inside out and you’re thinking that no-one can possibly be trusted to do the job as well as you do and you know what? You’re probably right too.

For the jobs you’re going to have to delegate to someone else, there’s probably no-one out there who can do them as well as you do. You know that and you also know that to grow your business you need some help.

It’s at this point where many small business owners hit a sticking point and decide not to expand, but to stay as they are doing everything themselves.

You Must Overcome the Fear

I’ve seen many people in this position and you’ve probably been there yourself, or maybe you’re there right now?

Unless you want to stay working crazy hours, doing every job yourself and never creating that bigger, more profitable business that you know you could achieve, then you must overcome this fear of hiring someone who’s not as good as you are.

You have to accept that your first employee might not be as good as you are, they might not be as efficient, they might not have your business mind or your positive attitude. After all, you’re the boss so you have a massive interest in the success of your business. They most probably won’t, why would they?

However, with the right working procedures and processes in place you should be able hire someone who can take some of the more mechanical tasks off your hands and do them with reasonable efficiency and consistency.

Once you’ve hired your first employee it’ll be so much easier to hire the second and third as your business grows.

If you take and remember only one thing from this article then let it be this:

“The fear that no employee will care about your business as much as you do, or work in your business as well as you do can stop you from growing your business. Don’t let this happen to you.”

Why Business in Myanmar Is About to Change

Myanmar, also known as Burma, is a country in transition. Business in Myanmar is on the brink of sweeping changes that should usher in long overdue economic prosperity for the citizens of Myanmar.

For decades, Myanmar was tightly controlled by a military regime. During this time, western governments including the United States, the United Kingdom, and other European nations sanctioned Myanmar. With the exception of humanitarian aid for the starving population, western businesses were not allowed to do business in Myanmar.

However, after the 2010 elections in Myanmar, the new Myanmar president and other political leaders ushered in rapid radical reforms and the western world began to take notice. Political prisoners have been freed, the press is now allowed access, and earnest efforts in peace talks have been praised by many. It seems the new Myanmar government is really trying to help its own people and also cultivate business and political relationships with other countries.

In July 2012, President Obama declared that U.S. companies are now free to invest in Myanmar for the first time in 15 years. The UK followed suite soon after. The Myanmar parliament is in the process of passing new legislation that will supplant Myanmar’s existing 1988 investment law. The new law will reform greatly how Myanmar does business with international investors.

The first version of this bill was criticized as being too strict and it was thought by the Federation of Chambers of Commerce and Industry, Myanmar’s top business lobby group, that changes needed to be made. The Myanmar parliament has gone back to the drawing board and it is predicted the changes they are making will attract foreign investors in a big way.

One of the main changes is the original financial cap that was to be placed on foreign investment. Originally it was capped so high that small to medium sized foreign businesses would have been shut out. However, the cap has now been lowered to a level that they can participate.

The tax incentives to foreign businesses have also been increased and extended which will now make doing business in Myanmar much more attractive. In most cases, the tax incentives have been extended from three to five years.

Another primary source of contention in the original version of the new foreign investment law was the inclusion of 13 areas where foreign investment would be restricted. This was designed to protect the primary domestic businesses including agriculture, fishing, and textile manufacturing. However, these restrictions have now been made more lax and now allow for foreign businesses to enter into 50/50 partnerships with domestic Myanmar businesses in these restricted business categories.

The Myanmar Investment Commission will be in charge of regulating the new international business inside the country. They have been putting on a far friendlier face than they have had in the past to woo in the international investors. At the same time, the Myanmar parliament has given them more power in how they handle things. This includes the ability to revoke the tax incentives.

The new changes should have business in Myanmar booming over the next few decades.

How To Be Successful With A Home Based MLM Business Opportunity

First of all it is important that you really do know your business inside and out. You are the expert in what you are doing so in order to be a success you need to be able to deal with every single questions that is put to you. How you answer a question can really determine if someone is going to spend some money with you.

Of course you also need to have the right product to sell. It is important to take your time and go through the various home based MLM business opportunity options available and see which one really grabs your attention. It is a lot easier to sell things if you personally like the service or product. It is very difficult to successfully fake enthusiasm for a product or business.

It is important that you are proactive in everything you and never think success is going to come to you without effort. You really should plan what you need to do in a day and make sure you get through each task, so if your task is making a certain number of calls that day, don’t quit for the day until all calls are done.

Carefully look at the product you have and spend time researching where the people are that would most attracted to it. It is important that you take your product and business to them instead of just sitting back and waiting. Market it directly to them and considering sending out samples to influential people.

For the internet this can mean going to websites or social media groups. It is important that you do not just sit there and spam the place as this is not going to give you the desired effect. Instead you are going to get more success by becoming a valued member of the community and people are then more likely to buy from you more than once if you have a product on those lines.

You should realize that you are going to have to deal with rejection as nobody gets a perfect conversion rate. It is how you deal with this rejection that really determines how well you are going to do so you do have to consider this part before you even begin.

Finally do remember that this is not going to be an overnight thing and do not set your goals too high as to avoid disappointment when you do not hit them. You need to look at this home based MLM business opportunity as a long-term plan, and if done right, it can lead to a substantial income.

Home Based Business Opportunities For Women – Are You Daring Enough To Take Advantage?

The key to stress-free living is to find the balance between your work and your home life. Running a home based business gives you the freedom and independence to financially support yourself while allowing you to spend more time doing what you want to do. As the owner and manager of your business, you have the power to make managerial decisions regarding the direction of the business and make your ‘work schedule’ fit into your schedule. With the use of advancing technology, the number of home based business opportunities for women is unlimited. You can take advantage of these opportunities and with careful planning, and determination, turn any idea into multiple money making streams of income.

Many legitimate home opportunities for women have low start up costs. Often after few months the business profits exceeds the amount paid in start up costs. Due to the nature of the business, you never have to worry about requesting time off and missing important events since you have the ability to work from anywhere at any time. In home businesses provide an instant source of income that allow you to determine how frequently and how much you are paid.

Although you can operate certain businesses inside your home such as an answering service, a home-based child care center or provide in home training, the most lucrative businesses are online businesses. You don’t have to worry about damage to your home, and online businesses allow you flexibility from day to day. When you are working online from a computer, your overhead cost is minimal.

Through the use of the invaluable internet, you have the ability to tap into unused and underused markets. Developing your business and marketing online helps you reach a wider scope of customers, thereby increasing your profit margins. If you go online and do your research, you’ll find plenty of online tools and resources available to help you build and maintain your website as well as teach you how to direct your traffic to your site.

Home based business opportunities for women are for the serious minded woman who is independent, fearless and not afraid of taking risks–or testing her ideas. This is a woman who knows no matter what it takes, is willing to learn how to run and operate a successful business, because she knows that a successfully run business will eliminate her financial worries associated with today’s unstable economy. So now that being said…ask yourself…are you this woman?

Yes anyone can start a home based business. You don’t have to be a specialist, but to be successful, you must be a self-starter, motivated, business-minded and determined individual. This combined with a focused mind and effective marketing, are the pillars that you need to insure your success. Are you ready to get stated?