The Real Pros and Cons of Running A Small Businesses

So, you want to run your own small business. How exciting is that? Owning a small business is incredibly rewarding and fruitful. However, it can also have its fair share of challenges and frustrating times.

While you do get to work for yourself without anyone doubting you, there is some bad news. Being a small business owner can lead to long hours and non-stop work. You can kiss weekends goodbye for the first few years.

If you’re thinking of running your own business, check out some of these pros and cons from Reviews for Global Resources to think about before starting your own business!

The Pros

Here are some of the great pros of running a small business

Autonomy

When you run your own business, you are essentially your boss. That means you are the decision-maker that determines where your business will grow. No one will be able to hold you back if you’re in control.

Whatever success you achieve is all yours. You have complete oversight of your business.

Job security

You are in charge when you run your own business. No one can fire you or tell you off. The only way you can lose your job is if your business doesn’t take off. If you work hard, the success will likely be yours to behold.

Money

If you’re looking for more income potential, owning a small business is the way to go. While you likely won’t turn a profit within the first few years, this soon changes if you work hard enough. Compared to other forms of employment, owning a small business creates a higher chance of earning a better income.

You also have the opportunity to hone in on more specific and boutique niches. This is a huge way to make money if you work hard.

The Cons

Here are some of the cons of running a small business.

Mundane tasks

When you run a small business, you are often stuck dealing with absolutely everything. This is especially true if you’re the only employee. If something stops working, you must fix it or make the call. The details of running the business are quite different from what you’re passionate about.

Financial risk

Most businesses fail within the first 18 months of business. If you don’t have a good budget, you could find yourself quickly running out of money and having to shut your business down. That is simply the risk you take as a small business owner.

Long hours

When you run a small business, you don’t get breaks. You may work your schedule, but overtime is always in a small business owner’s mind. You will likely work weekends and nights if you have work to get done.

Once you establish your business, you may be able to work shorter hours with help from your employees. However, only 5% of small business owners work shorter hours compared to traditional employment.

Owning a small business can be a pleasurable experience. However, it can also be daunting. Consider these pros and cons before committing.

 

 

 

 

A Guide to Landing Pages

A good landing page is one of the most important parts of a website. It is the ideal way to convince visitors to your website to become a customer. A good landing page is one of the best ways to convert visitors into leads.

Instead of directing visitors to any other pages on your website where they will become lost, send them to your landing page. A landing page should remain simple and uncluttered. Its only purpose is to convince any visitors to opt into your offer.

Landing pages are essential if you want to capture more sales leads. The best bit is, they aren’t that hard to create. All you need is to be clear and find the right tools. If you’re trying to create a great landing page, Global Resources knows just how important it is.

What your landing page needs 

There is no point in having a landing page if it doesn’t do what it needs to. It needs to convert, look good, look professional, and please the eye. A good landing page will always propel visitors to take action.

Include the following elements on your landing page to ensure success:

  • A call to action
  • An image
  • A catchy/relevant headline
  • A form for the user to enter their contact information
  • Compelling descriptions of what you’re offering.
  • A brief statement of your privacy policy

When asking people to fill out forms, ensure that you limit the number of fields you collect. The more questions you ask, the less likely people are to spend time filling them out. All you need is an email address, a name, and perhaps a phone number.

Let the important conversations happen personally via phone or in person.

How to design your ideal landing page 

When designing your landing page, you need to understand that it is the ideal mix of art and science. Your landing page must look good while also converting people and sales. There are plenty of places online to find helpful landing page builders.

There are also many types of great software to help you out. These things make it easy for you as they include all the essentials in the template. All you need to do then is customize your template.

A landing page builder tool is so important. It can help you to get your page up and running faster, too. In no time at all, you will have the results you’re after. Designing a page of your own would end in hours upon hours of trial and error.

When setting up a landing page, you need to put a lot of thought into it. You can’t just pick some words and images while praying for the best. As stated above, it is a mix of art and science to create the ideal landing page.

Making a landing page certainly isn’t rocket science, but it does require some hard work. Make sure you know what you’re doing or ask for help.

4 Ways to Market Your Small Business

Starting a small business is very exciting. You’ve done all the planning, your shop is gaining momentum, and the customers are pouring in. However, after your grand opening, things begin to quiet down. 

Then you will need to start thinking about what comes next. The challenge is never over when it comes to running a small business. Marketing especially can be tough. There is the option of handing money over to someone to do it for you. 

Though, if you own a small business, that likely isn’t affordable. Luckily, there are other ways to market your business. Global Resources LLC Reviews has four tips to help you market your small business.  

  1. Stay active

Nowadays, social media is everything. Everybody is on social media right now. Even the older generations know how to operate Facebook. That means that there is no excuse anymore. Making sure your business stays active on Facebook is extremely important to build credibility. 

You don’t need to be overly clever or stylish. As long as you have understandable content and high-quality photos, you’re good to go. No one wants to follow a business that hasn’t posted for six months. By staying on top of your social media content, you can market your business more effectively. 

  1. Incentivize

As stated above, social media is everything. One of the best ways to market your business is to incentivize your customers. The best bit is that it is free. You can incentivize your customers by offering a discount when they post to social media. 

You can even create a hashtag for your customers to use. The bottom line is that by incentivizing your customers, you are getting free marketing. It is also highly effective. 

  1. Create a likable space that reflects your product

Creating a space that reflects your product is a form of marketing. Too many shops have no vibe. You know, the ones where you walk out just as fast as you walked in. By making your shop more appealing, people will want to be in there. 

Perhaps add some greenery or lighter tones to create a brighter space. Nobody wants to wander around a dark and damp store. The more appealing your store is, the more time people will want to spend there. A great space is likely to create loyal customers that spread the word.

  1. Find your target audience

Your target audience matters. Every good product should solve a problem. No matter what product you’re selling, there will always be a pattern there. You may notice that older women, cyclists, or fitness gurus tend to frequent your store more than other people.

Take the time to speak to your customers about what attracted them to your store. That will help you identify your target audience and refine your niche. For example, some fitness stores will turn their store into a fitness studio after hours. That way, their customers can enjoy a judgment-free space to learn and make friends.

The Challenges of Owning A Small Business

Many people think that owning a small business is a walk in the park. However, that couldn’t be further from the truth. It isn’t always as glamorous as it sounds.

Many people think that working for yourself is a piece of cake. Though, that is often the hardest part. The sacrifices of running a small business usually outweigh the good. In saying that, there are still many positives. 

Studies have shown that many small business owners feel like they can never get away from their businesses. Before starting your own business, consider these challenges from GR-US.com.

 

Burnout

One of the biggest challenges of owning a small business is dealing with burnout. It can be almost impossible to distance yourself from your business at times. Many small business owners work insane hours and get very little sleep.

Often, small business owners do all the work themselves until they can turn a profit. All these things combined lead to fatigue which can influence your business decisions. Sometimes, it will lead you to give up.

 

Lack of funds

Money is the most prominent challenge that businesses face. Nothing can hold a business back like money issues. It is common knowledge that small businesses often have a less stable financial situation than big companies do.

It is important to have backup funds. That way, if a client doesn’t pay on time, there is still money to run your business. Many small businesses fail due to running out of funds.

 

Competition

A little bit of competition never hurts anybody. However, if your business is not running as well as it should, you could be losing customers to your competitors. Stay competitive by monitoring your pricing as well as your customer service. 

Customers will very quickly go to your competitors if your service is lacking.

 

Hiring staff

Hiring strangers is difficult. What they say on their resume won’t always apply in real life. Hiring the right staff can make all the difference in your small business. 

Try to avoid hiring unsuitable people because you’re desperate. Wait until you find the right person to ensure that they are the ideal candidate to showcase your business.

 

Loyal customers

You will have many customers. However, it is the loyal customers that truly matter. Cultivating customer loyalty can be a tricky task. Though, you can create loyal customers in many ways.

You may consider an email newsletter, a blog, or even loyalty discounts. It is the perfect way to get people involved while promoting your business. It also shows your customers that they are valuable. 

 

Time

Small business owners are some of the busiest people you will ever meet. After all, managing the many needs of a small business can get tricky at times. Unfortunately, there is no easy fix to this.

What you can do is prioritize your time and treat it like gold. Take care of all the essentials and delegate the rest. That is the only way you will be able to get the best out of your limited time.

 

4 Types of Customers You Will Meet When Owning A Business

A loyal customer base is what sits at the very heart of your business. Studies show that 33% of customers will choose your competitors over you if they experience even the smallest amount of bad service. That is why the service you give your customers matters. 

After all, what is a business without customers? Realistically, every business will encounter many different types of customers. How you handle those customers is what matters. Treating everyone the same way will not work.

Global Resources knows just how important it is to know your customers. Keep reading to find out about the four different customers you will meet when owning a business.

  1. Needs-based customers

Needs-based customers will walk into your store in search of a certain thing. If the product is not available, they will walk out. They have likely researched the product, know the price, and know where to find it. 

These customers do not stay to fuel their shopping needs. They know what they want. The best way to handle these customers is to empathize with them or offer the best alternative solution. 

  1. Regular customers

Your regular customers truly matter to your business. Also known as loyal customers, they contribute the largest percentage of your profits. Make sure you pay specific attention to these customers as they essentially hold your business together. 

Try to interact with them and listen to any suggestions they have for you. After all, sometimes they know aspects of your business better than you do. They also do the marketing for you by sharing your name and brand. 

To get the best out of your relationship with your regular customers, engage with them to show them that they’re valuable to your company.

  1. Window shoppers

Studies show that window shoppers make up most of your traffic. What you will find is that they spend the least. That doesn’t mean they’re bad for your brand, though. Window shoppers usually visit your store because of the location. Very rarely are they there because they love your brand.

Usually, they want to see what your business is. Try to maximize your engagement with these customers to give them a good experience. If you offer them the best experience possible, they will likely spread the word about your business.

  1. Bargain hunters

Bargain hunters love to shop the sales. While they may seem meticulous about finding the best sales, they are great for your business. The reason they are so great is that they help you get rid of old inventory. They also stimulate cash flow.

However, beware of bargain hunters and tread with caution. Most bargain hunters are known for returning products. They are also quite hard to turn into loyal customers. Usually, they don’t care about your business or brand. They only see a cheap product that appeals to them.

Your customers truly matter. By determining which type of customer they are, you will learn how to deal with them to seal the deal. 

 

5 Budgeting Tips for Small Business Owners

It comes as no surprise that starting a business can be expensive. What does come as a surprise is that the costs don’t stop when your business is running. As a responsible small business owner, you will need to create a reliable budget. 

The real advantage of creating a budget is that it helps you make strategic business decisions. By creating a budget, you will be able to set realistic expectations and turn a profit. Many businesses do not make it because they don’t set out a budget.

Reviews for Global Resources have five budgeting tips for business owners. These tips will help you get the best out of your business.

  1. Don’t underpay yourself

Many small business owners will constantly work at a loss. They do this so that they can save every single penny for their budget. It is important to be mindful of your finances. However, you should still include your payment in your budget.

With so much going on, it can be easy for small business owners to leave themselves as an afterthought. It can be hard knowing that the money could go elsewhere. However, it is of the utmost importance that you receive payment.

  1. Understand prominent risks

Are there any risks that could directly impact your business? If so, you must identify and understand them. Consider short-term and long-term risks to ensure that you’re aware. Once you have mapped out any prominent risks, you can build a clearer image. 

It enables you to run your business better. You will also handle the stress better if you’re aware of these risks. It is better to be safe than sorry.

  1. Time is money

One of the biggest mistakes small business owners make is not incorporating their time into their budget. Time is money too. Treat your time like money and incorporate it into your business. Otherwise, you may find that you’re running at a loss.

By underestimating your time, you are directly increasing your costs.

  1. Overestimate your costs

You can’t always predict when you will go over your budget. That is why it is important to overestimate everything. That way, you can be more prepared when something unexpected happens. 

Almost everything will include an unexpected cost. Most of the time, you will never even see it coming. By overestimating your budget, you will be okay should the unexpected happen.  

  1. Revisit your budget constantly

A budget should never be a final copy. You should constantly revisit it and make any necessary changes. As your business grows and evolves, so will your budget. Be open to changing your budget. 

When you revisit your budget every month, you can gain a clearer picture of your finances. Your budget will likely undergo many changes during its time.

If you don’t budget accordingly, you will be in a bad way should the unexpected happen. There is a lot to consider when it comes to budgeting. Follow these five tips to stay in tune with your budget. 

3 Signs That You Need to Start Your Own Business

Are you currently sitting at your desk pondering a business idea? Do you constantly daydream about being a business owner? Do you think that starting a business is the next best step for you? Well, it seems as if you have stumbled upon the perfect article.

Launching a business can be an intimidating process, but it can certainly be exciting as well. You have to put in hours upon hours of hard work just to succeed, but it is as enchanting as ever when you do. Perhaps you are unhappy about where you are right now, or perhaps you’re just ready for change.

Whatever the reasoning is, Reviews for Global Resources has put together three signs that you need to start your own business.

  • You can’t stop thinking

If you are constantly thinking about the business you want to launch, it is the perfect reason to start it. If it is truly something you have been dreaming of, your mind will be constantly thinking of how you can make it happen. You will also have many ideas in your mind of what you want to do with this business as well as where you want it to go.

Business owners never stop thinking and it is a blessing as much as it is a curse. If this sounds like you, it could be time to launch your business and leave your current job. This way, you can begin to set your thoughts into motion.

  • Your passion is driving you

Even if you are competing against someone qualified to an insane extent, nothing combats passion. As long as you have passion and motivation, you have the best driving force behind you to start your business and achieve success. If you’re passionate enough, you will be completely in awe of this business strategy you’ve created.

Passion is the biggest motivator, and should you be able to harness it as a tool, the sky’s the limit. Business owners and entrepreneurs alike are all truly passionate about what they do, that is what gives them their edge. Your passion will help you turn your vision into something the world can enjoy.

  • You want to be somebody

Too many people go through this world without purpose and when they’re gone, they have left nothing behind. If this is something you want to avoid, then it sounds like you want to be somebody, and you can do that by starting your own business. Several of the worlds’ millionaires, billionaires, and successful people have shared that they became who they are because they wanted something more from life.

If you feel the same way, it is most definitely time to launch your business.

The bottom line is that if you are constantly obsessing over something, it would be a crime not to see it through to fruition. It is time to take that leap of faith and pursue your startup vision. Once you begin to follow your dream, everything will fall into place.

 

 

 

 

 

 

 

3 Things to Know Before Starting a Business

Even the most experienced business people will have made mistakes along the way in their business. It is simply a part of life to experience setbacks. It really isn’t an unusual problem at all and even the most successful people you can think of will have made mistakes at one point or another in their career.

Ask any business person, and you will hear a plethora of stories about the countless blunders in their career. Obviously, as long as you acknowledge the mistakes and grow from them, there is no problem. However, if you let the mistakes rule you and crush your dreams, then you have a problem.

GR-US.com takes a look at 3 things you should know before starting a business. Let’s get into it.

  • Don’t overwhelm yourself with work

Letting go is sometimes the best thing you can do for your business. While it is nice to do everything yourself, sometimes it is necessary for you to outsource work. Most of the time, it is simply impossible to do it all by yourself.

You can either hire someone else to help you out, or you can burn out before your business even begins. Asking others to take on some of the responsibility while your business is growing is one of the best ways to ensure the longevity of your business. That way, you don’t have to overwhelm yourself with work.

  • Find a mentor

Once again, doing everything yourself will only burn you out. That is why it is so important to find a mentor who can help you out. Mentors can help you significantly to avoid any crucial mistakes that others, who do not have a mentor, will be making within their business. They will usually also help you out by providing you with contacts to secure more high-profile clients.

A mentor won’t just provide you with suggestions, they can give you specific answers to guide you perfectly. If your business ever hits a snag, having a mentor with a ‘been there, done that’ attitude will help you to continue on without dwelling.

  • Don’t be afraid to spend money

You don’t want to go crazy with spending, but it is important to invest in your business by buying all of the supplies you will need to succeed. It can be tough to spend a lot of money on all of the technology you need for your business, but you will be 10 steps ahead of your competitor in the end. With all of the things you put money into, you will likely see a return from them.

Even subscriptions will benefit you in the long run. Not only will it help you out in business, but it will help you save so much time.

It is not uncommon to make mistakes in your business, so don’t be disheartened if that happens. Failure is simply a lesson, and it will help you with building your success in the long run.

5 Fears You Need to Overcome Before Launching Your Business

Many potential or existing business owners out there are full of great ideas. However, very few of these ideas reach fruition a lot of the time due to fears. Don’t get me wrong, fears are a very normal part of life and without them, we would not know strength.

When it comes to building and launching a business, it is best to overcome these fears to become successful. The main difference between a successful business and one that never makes it is fear. Everyone starts in a place of fear to succeed.

The ones who succeed, however, have been able to gain power from their fear instead of letting it overpower them. Global Resources LLC reviews shared 5 fears that you need to overcome before launching your business.

  • Failure

Failure is perhaps the most popular and disheartening part of launching a business. If embarrassment or failure are dominating your mind, it could be for many reasons such as not being able to provide for your family, failing for yourself, or even knowing that others will see you fail. However, without failure, we would never be able to know success and how to fix issues within a business.

That is why failure is certainly something you should overcome, but never ignore.

  • Not knowing your starting point

Not knowing where, how, or when to start is perhaps the biggest dream killer of them all. But don’t worry, this fear is fairly easy to crush with the right tools. If you have seen someone with a goal like yours that has succeeded, consider watching them. You may even consider reaching out for them to mentor you.

You will be able to research them, their business, and figure out how they succeeded. This will help to put you on the right path.

  • Lack of customers

Another terrifying thing people have to face in the business world is a lack of customers. Even if you see the value in your work, that doesn’t mean that everyone will, but that is okay. If you approach your business with a healthy mindset, passion, and an abundance of happiness, people will often support you because of your demeanor.

As long as the wheels are turning behind the business with your marketing strategy, you will be destined for success.

  • Not having expertise

While it may seem ridiculous, you do not have to be an expert to succeed. As long as you have the basics and the cherry on top, most of the time, you can learn as you go. So, if you aren’t a complete expert yet, don’t worry, it will all come with time.

There is no shame at all in continued learning.

  • Being called ‘crazy’

Usually, there will be people out there who will call you crazy for starting your own business. Do not give these people an ounce of your attention, because usually, they are small-minded. Small-minded people will always drown other people’s success because they do not have any of their own.

It is best to rise above this and ignore it.

 

 

 

3 Tips for Managing Stress in Your Small Business

When your small business dreams come true, it seems as if nothing else could go wrong. However, even if you are running your dream business, there are always stressful situations that can arise. Things such as money, lack of sales, debt, or employee issues can rain on your parade and end in an unbearable amount of stress.

This means that your brain will constantly be thinking about all of the stressful situations and in turn, you will likely begin to notice poor performance at work. All of your problems and stress will lead to anxiety and so forth. You can’t escape the stress, unfortunately, but you can manage it to ensure you’re getting the best out of your business.

Global Resources understands how to manage stress in your small business, keep reading to find out about 3 tips that will help to manage your stress.

  • Take breaks when necessary

When necessary, taking a break can be what you need to manage your stress. It is the simplest, yet most effective way to manage your stress. Even if it may sound far too simple, it is a piece of advice that many different professionals over the world will give you. Even CEOs use this piece of advice.

If you feel as if you’re constantly working but getting nowhere, you probably just need a break. A short break will re-energize, refresh, and calm you so that when you’re ready, you can get back to work.

  • Focus on what is going well

Usually, stress is caused by all of the things in your small business that is going wrong. However, if you can just take a step back and focus on what is going well, you will be able to see just how far you have come. While it is important to understand the wrongs, it is just as important to understand the rights.

If things fall behind schedule or need to be fixed, don’t just dwell on the negatives. This is a great way to improve your stress management. Once you begin to recognize the positives, you will see just how many there are.

  • Take care of yourself

When you’re running a business, it is so important that you’re in good health. This applies to your mental and physical health as well as your general wellbeing. While some people believe that working for yourself is better than working for someone else, that isn’t true at times. You do have more freedom; however, you will often find yourself working after hours and even on weekends.

Your non-stop life can put a significant strain on your body and in turn, you become stressed to a hellish extent. That is why it is so important to take care of yourself. You can do this in many ways such as:

  • Exercising
  • Sleeping
  • Eating regularly
  • Drinking water
  • Reducing your caffeine consumption
  • Cutting out alcohol

All of these things, when implemented, will make sure that you are taking care of yourself. A healthy body and healthy mind will change your life.