By Brenda Weathers Hargroves
I think my head will explode if I hear the expression ‘Think Outside The Box’ one more time. Below are five relatively easy inside-the-box business tips that can help you become a successful entrepreneur.
1) Barter your services in exchange for assistance with your business. I know a businesswoman who is the queen of bartering. She develops mutually beneficial arrangements to swap services for both her business and personal needs. She has even worked out a way to provide services in exchange for getting her hair washed and styled and her nails manicured. You’d be surprised at what satisfying deals can be struck by exchanging resources. A word of caution: Depending on the situation, the agreed upon terms might merit a written contract to protect all parties involved.
2) Subcontract with other vendors. While this is not a new concept, business owners tend to overlook or shy away from this method of increasing sales and exposure. They are afraid of possibly losing business to a competitor. But suppose you are vying for business with a client whose needs exceed your capacity to supply? This type of situation could be a win-win for all parties involved and create additional relationship-building opportunities. The key is to carefully assess the pros and cons of entering into the arrangement. If both parties decide to move forward with collaboration, a well-crafted non-compete agreement should resolve any potential problems.
3) Sponsor or co-sponsor an event. This is an excellent advertising technique that does not always have to result in a major expense. And, your contribution does not always have to be in the form of financial support. The event host may need a service you can readily supply at little or reduced cost. Sponsorship recognition is often an effective and inexpensive form of marketing.
4) Develop simple systems to make your tasks easier. The details of running a business can become overwhelming if not successfully controlled. My first job after college required researching answers for more people than I had ever been accustomed to working with at one time. I resorted to a simple pen and pencil system of listing each request in a spiral notebook. Once the issue was resolved, I drew a line through that request and moved on to the next. Today, this is known as managing a spreadsheet.
Sometimes the simplest method is the best solution.
5) Do something for your business every day. When discussing his business, my mentor always said ‘You gotta love it until you finish it.’
Make it a routine to cultivate your business in some manner every day. I’m not suggesting that you perform major tasks seven days a week, but do something, however small, every day. Make a phone call. Draft a letter. Develop a process. Spend time simply thinking about your business when you are feeling refreshed and invigorated. If you are an early riser, you may find the morning a perfect time to exercise this habit.
These five straightforward, yet simple suggestions can greatly contribute to the success of your business. What other practical inside-the-box solutions can you recommend?
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