7 Steps To Running A Successful Business

Starting a business is often a labor of love. After long hours and often years of hard work, you may finally obtain your goal of running a successful business. However, as the economy shifts, new industry trends and other factors can bring new challenges to your small business and its success. The following seven steps will help your business remain afloat as new challenges arise:

1. Regulate and obey your business plan.
A business plan is a formal statement of action that explains your goals and how you plan to attain them. Although this plan is primarily used for obtaining initial grants, investor contributions, and other types of start-up funding, it is just as important to keep it updated according to industry trends. If necessary, modify your short- and long-term plan to meet new or unforeseen needs within your industry. This will help you better manage your budget and the way you serve your target demographic.


2. Track all company financials.

Similar to keeping track of inventory, you should meticulously track all the details of your business. This includes new and periodic purchases, staff and their hours worked, salaries, company inventory, and sales. Not only will tracking these details help you when it comes time to file your taxes, but it will also help you compare your overall costs to your company's revenue more clearly.

3. Stay on top of technology.
Technology is widely used today, and it is critical for your business to adapt to the latest changes as they pertain to your customers' needs and interests. For example, technology is a fairly inexpensive way to advertise your business and continue to bring in current and potential customers. This may include maintaining a company blog, using social media, and understanding how traffic is driven to your business

4. Understand current and new industry trends.

Every industry has trends that come and go. While some manage to catch on, other trends may not be appealing to a majority of consumers. Analyzing and embracing the latest trends within your industry is a surefire way to relate to your customers and stay ahead of the game. Keep in mind that not every change will necessarily apply to you, so it is crucial to understand how different trends affect competitors who rely on the same customer base as you.

5. Be open to suggestions.

There are a lot of ways you can improve your business by listening closely to customers, colleagues, staff, and other professionals. Your customers and employees most likely have some creative ideas on how you can improve products, services, or the way you run your business. Openly ask for advice in verbal or written form, as well as through customer newsletters and specialized online forms. If you are unable to comply with suggestions, explain your reasoning to reassure everyone that you are not simply ignoring their feedback. You can then offer alternative ways to meet the expectations of those who provide feedback.

6. Avoid micromanagement.
Starting a small business can be a lot like nurturing a child and watching them grow to be successful. Similar to that of a loving parent, you might unknowingly hover over your business and staff. If your staff is properly trained, they should be able to be successful without you micromanaging their actions. You should be responsible for handling the larger aspects of your business, while placing a healthy amount of trust in the people that work for you.

7. Remain competitive.

All successful businesses have a competitive edge, and whether it is a unique product or service, or the ability to provide exceptional customer service, it keeps them ahead of the competition. It is important to find ways to stay competitive with businesses that provide similar services or products. Use promotional discounts, exclusive services or products, or even customer appreciation events to keep your business relevant and successful within its industry.Starting a successful business requires careful vigilance. Start by following these seven steps, and your business will see continued prosperity and growth.

Guest Post: Vintage Gold Watches As an Investment

Watches have been developed many centuries ago. These pieces started only as sundials and later on improved its designs with time. Modern watches are usually worn on the wrist which consists of a bracelet or strap made of leather, metal, alloy or rubber. It also features other useful functions including the date.

There are many types of watches such as digital, mechanical and kinetic. There are also specially designed watches for specific purposes such as for divers, air force and the military. Such specialized pieces consist of added features depending on its purpose and design.

Digital watches are battery operated and are the most accurate types. Some watches are solar powered, or powered by the movement of the user. Many manufacturers have developed modern watches which consist of small electronic chips and have many features compared to other types of watches.

Vintage gold watches are the most valued type because of its workmanship and design rather than its main function of time keeping. These expensive watches consist of mechanical parts and runs through the power produced by its spring parts. Some of these contain expensive gems. Others are gold plated.

Vintage watches are mostly collected by men because majority of these bear masculine designs. Watches for women are only introduced lately. Besides being a collector's item, vintage gold watches make perfect gifts which will surely be cherished because its value.

Vintage gold watches not only functions as a timekeeping device but sometimes serve as a symbol of the status of a person's prestige in the society due to its expensive price. Many of the elite class are number one watch collectors.

Vintage gold watches are considered as a beautiful piece of treasure. However, the authentic pieces are very expensive that it brought rise to many fake counterparts. Fake vintage gold pieces are being sold much cheaper while it copies the image or real watches.

Collecting vintage gold watches involves a lot of money and is a good investment and needs to be secured and protected. It is important to check the authenticity of the vintage gold watch before purchasing.

There are few things to consider in examining if a timepiece is genuine or fake. The popularity and the condition of the vintage watch is one of the important factors to consider. The history and how many years the watch has existed also increase the value. The condition of the vintage gold watch should also be considered. Some timepieces no longer function properly but are still valued just the same.

As a general rule, a watch can be classified as vintage when it is very rare, limited and exceptional. They can also be classified according to their age. Some of the vintage watches which have been desired and collected by watch collectors include the Gruen Curvex, Cartier Panthere, Rolex Daytona, Vacheron Constantin and Rolex Zephyr.

The hobby of collecting vintage gold watches is rewarding considering that these items are ideal as investments. You can also consider collecting vintage gold watches not in perfect condition and have it fixed to regain its appeal. Some collectors buy malfunctioning pieces, repair and resell them.

Other vintage timepieces are pocket watches. Pocket watches have a high value because these are old designs no longer common nowadays. Pocket watches existed even before wristwatches became a fad. The rarity of this design increases its monetary value.

Most watch collectors do not wear their collections in order to protect it. They usually put it on display and enjoy the privilege of having the rarest watch in their possession.

Among the companies which have created vintage gold watches are Omega, Hamilton, Patek Philippe, Audemars Piguet, Rolex, and Vacheron Constantin, to name a few.

Champion Football Team Strategies: Lessons You Can Apply to Your Small Business

Small business owners can find inspiration and guidance in many places. Whether you like tackling books for entrepreneurs or watching shows about successful figures, you can learn valuable business lessons through a variety of entertainment channels. In fact, you can even gain leadership insights by watching an NFL team battle its way through the playoffs. Here are some small business strategies that you can learn from a champion football team.

1. Protect the ball

The NFL teams that end up on top are often those that can control the ball and avoid turnovers. After all, when it comes time for the big game, one interception can cost a team the title, as was the case for the Seattle Seahawks in 2015. Instead of sticking to its winning game plan, Seattle took a chance, and it cost the team the championship when the New England Patriots were able to capitalize on their error.

When you dictate the terms and pace of play, you are less vulnerable to risk and have more opportunities to win. The same goes for small business owners and their clients. You should strive to protect your relationship with your best clients at all costs. If your business experiences a downward slump, these core accounts can keep you going until you are able to return to better days.

2. Play as a team

As a small business owner, it is important for you to accept that people make mistakes. The sooner you forgive and move on, the sooner your team can get back to achieving its goals. While it may be difficult for many athletes to accept weakness, you will find that the best teams are ready to support one another when a receiver drops an easy pass or the quarterback misses his wide-open target.

Members of a champion football team are quick to shrug off lapses. This approach keeps confidence levels high and communicates the need for unity above all. Small businesses thrive on the same sense of mutual support. You should strive to project confidence in your employees' abilities and move past mistakes quickly. After all, people can do their best work when they are not held back by the fear of failing.

3. Master the art of preparation

Football is a game in which strong coaches dominate. Those who are prepared to maximize their team's strengths and exploit the opposition's weaknesses tend to win. This makes preparation crucial, especially when it comes time to face the best teams in the playoffs. While you can take pride in your ability to improvise, this skill is no substitute for thorough preparation when you have an important meeting or presentation ahead.

4. Learn from defeat

Great teams are not afraid to look in the mirror after failure, and this approach serves small business owners in the same way. When you find yourself down after losing an account or missing a key deadline, huddle with your staff members and find out what happened. Once you determine what you did wrong and fix it, you can lower your chances of repeating the mistake.

5. Be able to improvise

You have to attack every day, game, or quarter with a solid plan, all the while understanding that your methods and systems should be subject to change. Great coaches have a fallback plan for every calamity that might set in, and the ability to improvise can often make all the difference in the big game. As a business owner, you too should know when to change gears. Have a plan but be nimble enough to adjust it as circumstances change..

As a small business owner, you can learn many things from a champion football team. The next time you encounter a problem at work, try thinking about how your favorite football coach would tackle the situation.