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A recent article, 7 Things to Ponder Before Getting Small Business Financing by Melinda Emerson says that if you have bright idea for a business and you think that financing is the best option to get started, then be careful. Immediately seek small business financing rather than bootstrapping it with your….
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A recent article, 7 Things to Ponder Before Getting Small Business Financing by Melinda Emerson says that if you have bright idea for a business and you think that financing is the best option to get started, then be careful.

Immediately seek small business financing rather than bootstrapping it with your personal assets can be risky— it brings its own crop of distractions.

Here are things to consider before pursuing small business financing.

1. You might appear as a beggar
You don’t have financial track record if you’re a startup.  Therefore, your potential investor has the power over you and puts you at a disadvantage by charging you a higher cost of capital.

2. You could undervalue your company
When you seek financing, you need to assign monetary value on your company based on its assets and intellectual property —it’s easy to commit substantial mistake that you’ll be able to calculate afterwards.

3. You might get the wrong partners
You put your business at risk when you partner with an investor hastily. The proposal to finance your endeavor seldom comes without strings, so ensure you understand your financier better than you understand your spouse otherwise you may not be ready to take the leap.

4. You’ll be sidetracked from building your customer base
Building a customer base needs motivation and commitment; acquiring financing needs the same. Once you divert your interest from your clientele to pursue funding, you will be sidetracked from building your clientele which is the essence of your business.

5. You Could Lose Control of Your Company
You’ll have to appoint a Board of Directors that will have financial and board control.  Backers don’t know you as a fresh entrepreneur and may vote to disregard you as the CEO.

Conclusion
A true entrepreneur sees business opportunity as a way to hone talents and instincts that yields long- term success rather than quick cash. As a startup, YourOffice can help you launch your business by ensuring the right setup for you. YourOffice features a network of world-class business addresses. Each location offers beautifully appointed day offices and team office space that are fully wired and ready for you to move in and start working.

Would you like to launch your business?  We’d love to hear your thoughts below.  You can also see us on Twitter and Facebook.

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A recent article, High Levels of Quality Communication by Chris LoCurto says that good communication skills are keys to success. If you want to be successful leader, you need to be a good communicator. Here are some qualities of  good communication skills. Respect and understand  You have to respect people….
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A recent article, High Levels of Quality Communication by Chris LoCurto says that good communication skills are keys to success. If you want to be successful leader, you need to be a good communicator.

Here are some qualities of  good communication skills.

Respect and understand 
You have to respect people in all manners- their emotions, time, and situations.
You have to be aware of other people’s emotions. It’s important to understand and it’s something that you need as an interpersonal skill.
See how they are–what are people experiencing. If you’re the leader, what are they experiencing with the work that you’ve lay on them? Have you done too much or too little? Think about these things.

Self-Control
You have to be in control of your emotions. You have to discern the situation and know the appropriate behavior.
There are times where you could be totally discouraged with a team member because of something that’s going on. You don’t have to get angry or crazy, understand what’s happening.

Self-confidence
If somebody’s trying to control or manipulate you, then you should  go ahead and be assertive. Set a good healthy boundary and display self confidence that you fully understand what you’re saying.

Identify and solve problem
You have to identify exactly what the problem is. Don’t just talk but gaining great perspective by listening and then create strategies or objectives to solve the problem.

Responsible and Accountable
If you say that you’re going to do something and you don’t, then be responsible and accountable if something clashes or fails because of something you did or did not do.
Apologizing and accepting your mistake; not only make you a great communicator, but yield trust and loyalty.

Conclusion
Good communication skills are one of the key elements of good leadership. Having a good leader and workplace where team collaborates will surely yield success. YourOffice is a leader in providing the most prestigious executive office space and shared office space for any size business. Convenient, hassle free, and move in ready- our offices, meeting rooms, and conference rooms are designed to meet your business’ every need.

Would you like to give your view on good communication?  Feel free to share your thought.  You can also see us on Twitter and Google Plus.

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What does it it mean to “go global” with your business? Is it expanding your product and services overseas? Networking with international client bases, and vendors? Increasing global awareness and understanding of cultural diversity? The answer is, all of the above. Below are a few strategies to help prepare your….
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What does it it mean to “go global” with your business? Is it expanding your product and services overseas? Networking with international client bases, and vendors? Increasing global awareness and understanding of cultural diversity? The answer is, all of the above.

Below are a few strategies to help prepare your business for international expansion and prepare you to be a global leader.

Scout the location
Take a business trip (or a vacation) and go visit the location you are considering expanding your business to. This is will give you a first hand account of the people you will be doing business with and any cultural or governmental barriers your business will face.

Assess the market
Ask, is there a large consumer base to receive what your business has to offer? “If you build it, they will come” may have worked in Field of Dreams, but when it comes to being an entrepreneur, a viable market must be established first. In other words; “if you build it…they need to already be there.” If there isn’t a pre-existing market available, or if it seems too small to put your confidence in, don’t give up. Networking is an invaluable resource when it comes to expanding your business, whether it’s local or international. The more connections you make with overseas associates, friends, and business partners, the more opportunity you have to raise awareness about your business and increase your market.

Research the culture
When bringing your business to a foreign country, you need to be familiar with their culture and customs, to know whether or not your business will be well received. For example, when McDonald’s expanded to India, they had to make some major changes to their menu…such as removing the Big Mac from it. The cow is sacred in the Hindu religion, so a fast food restaurant that prides itself in selling beef hamburgers will not be a popular (or even permitted) establishment. In order to “go global,” Mcdonald’s had to forfeit their namesake meal and change their patty recipes to vegetarian ingredients only. The company was willing to make those changes, but you need to decide ahead of time what sacrifices and adaptations you are willing to make.

Be a bridge-builder
Evaluate whether your business will be a benefit to the community or direct competition for local merchants and vendors. Becoming a global business leader means building bridges that enhance cross-cultural relationships. Your success overseas will be a reflection of your ability to work with the culture and people your business is serving. Running local artisans out of business is certainly not a positive way to expand your company, especially if you desire to gain a loyal following of customers. A successful international business model is one that provides opportunity and resources for the people it serves.

Go global
Going global with your business is more than just expanding to the international market, it is a mindset that every business leader should strive to develop. Becoming more globally aware will allow you to do business better. If you are considering expanding your business internationally and want to increase your ability to network and test out the market, consider partnering expanding to a virtual office. YourOffice has come alongside hundreds of  businesses looking for everything from plug and play offices to full service virtual offices. Contact YourOffice to help you create a flexible and customizable business model that will allow you to spend more time building relationships and gaining cultural experiences.

Starting a new small business is a lot like getting a dog. Not only do you have to prepare your house for your new arrival and prepare your family, you have to determine if you have the commitment necessary to business success. You also need to determine if you have….
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Starting a new small business is a lot like getting a dog. Not only do you have to prepare your house for your new arrival and prepare your family, you have to determine if you have the commitment necessary to business success. You also need to determine if you have enough capital to start a small business.

Here are three ways to determine if owning a small business is right for you:

Responsibilities: When deciding if owning a small business is right for you, you’ll have to ask yourself if you’re willing to take on numerous responsibilities. When you’re an employee at a larger corporation, you only need to focus on your niche area. When you’re an entrepreneur, you have to focus on every area.

Stamina – Owning your own small business means you’ll be working much more than the average 40 hours per week. You’ll be working seven days a week and you might lose touch with friends. You might have to give up on certain activities as well. It’s easy to get burned out when you aren’t in touch with friends and family all of the time.

Passion – Are you passionate about your service and product? Facing the prospect of your small business possibly failing can bring you down, but, if you’re passionate about your offerings, you’ll work harder and you’ll push forwards when times are tough. Working around the clock won’t also seem as bad when you love what you do.

Starting your very own business requires taking on multiple responsibilities, having a lot of stamina and passion about your products and services. Having these three talents will help you down your entrepreneurship road.

Do you have any tips to share? Please feel free to share them in the comments section. We look forward to hearing from you.

All small business owners are going to experience work burnout at one point or another. The trick is to recognize small business burnout before it starts. Additionally, you should have a plan in place for when you feel less than motivated at your company. First things first. According to Wikipedia,….
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All small business owners are going to experience work burnout at one point or another. The trick is to recognize small business burnout before it starts. Additionally, you should have a plan in place for when you feel less than motivated at your company.

First things first. According to Wikipedia, burnout is a psychological term that refers to long-term exhaustion and diminished interest in work.

Causes

One of the many reasons small business owners experience burnout is they are running on empty. They are putting in long hours at the office and suffer complete exhaustion. Not taking care of yourself physically will burn you out quickly.

Another cause for small business burnout is stress and/or anxiety. As a business owner, you will have to deal with difficult situations including angry customers, disgruntled employees, accounting issues, etc. Stress causes burnout and burnout causes more stress – it’s a vicious cycle.

Are you trying to manage every aspect of your business? How many “office hats” do you wear? Most small businesses include a variety of departments including: marketing, business development, HR to name a few. It’s great to set high standards for yourself, but you need to delegate some of the work. If you can financially afford it, hire people to help. You’ll be happy you did

Solutions

Take care of your physical needs is the number one way to avoid office burnout. You need to make sure you are eating three meals a day, exercising, and socializing with friends. There are a number of other ways you can unwind including massage, reflexology, and even talk therapy.

Enjoy your free time. Do you have a spouse and/or children? Even if you don’t have those, you’re bound to have friends and/or pets. Spend time with these people (or animals) and plan fun activities. Don’t bring your smartphone unless you absolutely have to.

One of the best ways to avoid burnout is to create a routine. In today’s digital age, there are a variety of ways to organize your life. You can create repeating tasks at work, schedule breaks, and set aside time for employees. Remember, it takes doing something 30 times before making it a habit so stick with it.

Small business burnout is 100% avoidable. Watch out for burnout triggers such as running on empty and major stress. Take some time to enjoy your non-work life and you’ll never have to experience office burnout again!

YourOffice is a world-class network of business centers providing clients with fully serviced full-time offices, virtual offices and meeting rooms, all available with flexible terms and on-demand. Simply work with our team to create the office plan that’s perfect for your business.

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