Common challenges faced by entrepreneurs

It is never easy to start your own business. In today’s highly competitive and saturated markets, business longevity seems a hard possibility. Here are some common examples of challenges faced by entrepreneurs or business owners these days.

Image source: deluxe.com

Discrepancies in cash flow management. A constant cash flow is important to business survival. However, many businesses, waiting on checks and accounts payables, still struggle to pay monthly bills and their workers. This problem could be rooted in delayed invoicing, and is a common challenge pitfall in any business or establishment. Waiting to get paid is a difficult situation, especially if the customer completely fails to do so.

Image source: inc-asean.com

Managing websites and social media pages. In today’s digital uprising, having an online presence is a must for every business to reach wider audiences and target markets. However, it could be a struggle to maintain websites and social media pages amid everyday operational tasks. This is a main reason business owners hire social media or web marketing managers.

Recruiting or hiring dependable employees. Even if you have established a proper workforce framework, it wouldn’t be as effective without employees you can depend on. The hiring process is a difficult thing to manage, which is why it is up to the human resources department to make sure that the right people will be hired.

Dougherty Marketing offers mentorship and training services to people who aim to improve their entrepreneurial and leadership skills. With the company’s services, clients can develop and grow successful businesses. For more articles like this, visit this page.

How to market your very first business

No matter how life changing your services or products are, letting the world know of their existence and availability is the work of marketing. Corporations spend billions on marketing each year trying to outdo each other with onsite advertisements, events, promotions, commercials, and every other marketing tool known to man. Depending on how you market your business, your endeavor can fail or become a booming success. If you are just starting your first business and don’t know a thing about marketing, here are some tips to help you out.

Image source: sproutsocial.com

Digital marketing is the best tool for a nascent business. Currently, the best digital marketing tool is social media. Having a social media account on Facebook gives people easy access to your company’s basics; a list of products and services, the location of the office or store, work hours, phone numbers, and so on.

Inasmuch as you can cram considerable information about your business on a Facebook page, social media apps are also a direct line to potential customers. Through the built-in messenger systems, one can easily interact with your brand and you can respond just as quickly.

Since everyone is on Facebook or Instagram, paying for targeted ads could reach many potential clients. Their algorithms ensure that the right demographics in a specific area see your ads. And these ads don’t cost as much as other marketing efforts like radio commercials or print ads on newspapers.

For Brian Dougherty, people who want to start a business should be prepared to fight an uphill battle. This is why he, together with his wife, Jenny, started Dougherty Marketing, a company that offers entrepreneurial mentorship and training. To learn more about the company, visit their website.

Time management tips for entrepreneurs

These days, it’s possible for business owners and entrepreneurs to work whenever and wherever they want. However, this kind of freedom can be counterproductive for those who are prone to procrastination. Here are some helpful time management tips for those who feel that they are lagging behind:

Image source: Bbc.com

Set up a schedule

Not being bound by the standard nine-to-five can be overwhelming for some. Too much freedom can lead to loss of motivation, especially among those who work from home. To make the most out of one's time, a schedule is a must. One can choose to have a weekly plan, a task list, or a more detailed hourly outline of how the day should go. The important thing is to follow the schedule so that the days end with accomplishments.

Image source: Pexels.com

Remember: First things first

Most of the time, procrastinators do tasks that would take their mind off a pending task, whether these are work-related or fun activities that would make them feel at ease. To manage time wisely, prioritize tasks and commit to finish the most important ones first. Practicing the first things first principle will instill an indispensable discipline that will benefit not just the individual but the people involved in the business. This habit will also help a person focus and get rid of distractions.

Use productivity tools

Sheer willpower might not be the best way to end procrastination. The use of apps and timers might help in keeping a person aware of how he or she is spending time. These days, there are many apps that keep track of a person's social media use and working hours. One can also use manual timers and follow methods like the Pomodoro technique to ensure their movement according to schedule. There are many productivity tools available and it might help to take advantage of these innovations to increase work efficiency.

Breaking old habits can be challenging. But with the right mindset, an entrepreneur can develop better practices that will lead them to more successes.

Dougherty Marketing is a company founded by Brian and Jenny Dougherty aimed at helping entrepreneurs find their way to success. Learn about Dougherty Marketing by visiting its official website.

Startup Trends To Watch In 2018

Image source: startup-creator.com

With the rise of artificial intelligence, blockchain technology, and IoT, things are looking up for small businesses in 2018. Here are some startup predictions to keep in mind this coming year.

Firstly, expect A.I. to boom in 2018. While it has already spilled into quite a number of business talks and meetings in 2017, marketers will start to see that it’s more than just hype as more and more huge companies embrace the technology. A.I. will vastly improve efficiency in the workplace, complementing machine learning and advanced analytics. It is also seen to play a big role in drug discovery, legal tech, and cybersecurity.

2018 will retain the prevalence of disruptive innovation. Innovation-driven growth creates new markets or transforms already existing ones by introducing simplicity, convenience, affordability, and accessibility in areas where high cost and complication is the norm. Good examples of disruptive, innovative companies are Uber, Airbnb, and Oyo. These have created an on-demand economy with a dedicated clientele.

Image source: talenteconomy.io

Another important trend is the rise of Internet of Things or IoT. Over 20 billion devices are now connected to the internet, and in 2018, it will move from experimentation to the business scale. It is seen to become the backbone of customer value in the coming years, shifting to edge to provide cloud intelligence. In a recent study, it was found that about two-thirds of U.S. companies are already utilizing IoT in their business dealings.

Finally, cryptocurrency is here to stay. Bitcoin has reached its all-time high in value this December at a whopping $19,783.06. Even those who’ve initially criticized the concept are now joining the bandwagon. Even Putin and Russia has launched cryptoruble, the country’s own cryptocurrency.

Dougherty Marketing offers mentorship and training services to people who aim to improve their entrepreneurial and leadership skills. It was founded by Brian Dougherty and his wife Jenny in July 2001. Visit its official website for more on the company’s offerings.

The similar mindsets of athletes and business leaders

It’s often been said that it takes a particular individual to spearhead a company into the future, an individual who can take the lumps and still manage to find a way to forge ahead, an individual who will never waver in the face of even the mightiest competition. If that sounds familiar, it’s because the most successful business leaders have a mindset that’s very similar to that of a successful athlete.

Image source: dynamicbusiness.com.au 

Physical strength isn’t enough for an athlete to emerge victorious. The mental fortitude and the competitive spirit that comes along with training and preparing every day is a combination that can be brought into the business setting. In fact, this kind of mentality can give business leaders all the edge in the world.

Now aside from grit and determination, athletes and business leaders also need to know the arena in which they’re competing from the inside out. Without this knowledge, preparation will only be half-complete. For athletes, it’s the sport. For business leaders, it’s the industry. All the information gathered in their respective fields can aid them in their planning ahead.

On the flip-side, business leaders who lack all these, or have a diminished capacity when it comes to determination doom their company from the onset. Without the commitment to soldier forth day in and day out, and create a lifestyle revolving around their business, a company owner is sure to take the ship down with them.

Image source: freepik.com

Dougherty Marketing has helped people start their own business, and fight the uphill battles that go along with it. One of the highlights that the company’s founders, Brian and Jenny, have found joy in is that they have assisted mothers to leave their job and run a home-based business so they could be given the opportunity to raise their own kids. For more information about the company, visit this website.

Signing up for success: Brand planning for new businesses

A powerful brand strategy can invigorate the reception of any product or service. Big and successful companies have already unraveled the secrets of effective branding. They also have the resources to continually spend on various strategic marketing plans that would sustain further consumer acquisition and the profitability of a campaign. A small business, though, must reflect on a number of things to make sure funds are properly allocated. 

Image source: pxhere.com

Any startup should eventually invest in marketing. In the meantime, there are several avenues, with minimal or no disbursement necessary, that can help a new business prevent the depletion of finances while focusing on quality assurance and development of the product. 

The logo represents the business in many ways. It is one of the basic foundations of a strong branding and can be an important determiner of the outcome of any endeavor. One must look for talented artists who are also at the beginning of the race and, most probably, won’t charge you exorbitant fees for creating it. 

Once the logo is finished, one can think of a tagline that sums up the essence of the brand. Social media can provide an owner the channels for communicating that essence. Depending on one’s existing online presence and his knowledge of the social networking sites, this can pose a learning curve. The nature of the message and the target addressee need to be matched with the right social media platform to make the best use of each site’s distinct flavor. 

Although social media can help convince the consumer base of the reliability of the product or service, and that a consistent online presence is a guarantee of the owner’s commitment to providing support, one must grab other opportunities for exposure. Getting involved in local communities especially those with which one already has existing ties might increase the chances of growth for the business. Sharing one’s knowledge with other people in hosted local events might be a worthwhile use of the time and an occasion to engage with both online and offline sbases. 

Image source: pxhere.com

Dougherty Marketing offers entrepreneurial training and education and has been helping people create other opportunities for success outside employment. Read about its inspired work here.

Why Leaders Should Know The Law Of Legacy

In 1997, Roberto Goizueta, one of the world’s most renowned business leaders, suddenly died. He was known for leading the renaissance of The Coca-Cola Company from 1981 when he became the company’s chairman, until his untimely passing 16 years later.

Image source:linkedin.com

During this decade-and-a-half tenure, Coca-Cola rose from having a value of $4 billion to $150 billion, or a 3,500 percent increase. Coca-Cola became the country’s second most valuable corporation. And Former President Jimmy Carter even recognized the Cuba-born Goizueta’s extraordinary leadership skills and achievement of helping thousands of lives.

When Goizueta was diagnosed with lung cancer and lost the battle six weeks later, the company and its stockholders did experience grief for losing a beloved leader. However, there was no sense of panic from among them, as is normally the case when large companies unexpectedly lose a leader. They knew that the company was in good hands.

Goizueta was not just an exceptional leader; he was also able to create an effective succession plan. He began grooming Doug Ivester as early as 1989 to take over the organization eventually. At the time, this was uncommon in many organizations because they would rather hire leaders from the outside than invest heavily in bringing people up.

Image source:jesusgilhernandez.com

John Maxwell, author of numerous best-selling leadership books, used this example to describe what he calls as the “Law of Legacy.” This principle explains that the lasting value of any leader can be assessed through succession. A leader is considered successful when he can leave behind an organization that can carry on and achieve greatness by itself.

Dougherty Marketing is committed in helping entrepreneurs and business leaders attain success in their respective field through training and mentorship. For more information, visit the company’s official website.