EJ Dalius: Working on growth strategies for your business

Every business needs to chalk out a detailed growth plan to understand where it wants to reach within a chosen time frame. It has to be short-term, though, covering one to two years. Also, it should be easy to review every quarter to know what you attained and also what you missed at that specific time. It should allow you to make and also necessary changes as per your current status in the market. Usually, you draw it for the well-being of your company. But it is also to demonstrate your and also potential before your investors. You present them with a picture as to how you will increase sales in the upcoming months.

When you write your growth plan, you don’t need a template. However, your focus has to be on revenue. It should manifest how you will make money in different quarters. You can include a variety of strategies in your plan, targeting growth. Still, experts suggest that it is better to zero down on four main things first. Let’s take a quick look into them for a fair understanding.

The main growth strategies for the business plan by Eric Dalius

Marketing

You have to identify a segment for penetration. It doesn’t mean launching a new product or service to tap into the specific area. You have to work around your existing offerings – whether it implies adjusting prices or starting a new marketing campaign.

Product

Product development can be another and also a critical part of the growth plan. In this area, you can discuss new offerings for your current market based on customer demand. The only thing is it should not mean exploring new markets.

Expansion

The leading entrepreneurs like EJ Dalius suggest that this stage refers to the diversification of markets and also products. It can work well for versatile small businesses as they can quickly identify how to enter the new markets.

Development

It is about classifying your offerings for new markets when existing conditions don’t provide adequate growth opportunities. You will try to get into a new market.

In essence, your growth plan’s crux has to be about expansion and also ways to achieve the same. It can be a difficult task, but it is worth investing your time and also efforts. A well-drawn plan can help you maintain focus. When you create your project, you can describe expansion areas, quarterly and also annual financial goals, marketing endeavours for growth targeting, the availability of the capital during the phase of growth, and also hiring needs and also processes. As soon as it is ready, it would help if you kept referring back to it to track your journey. Frequent revisions and also reviews can fine-tune your efforts.

A serious business owner tends to involve the high-ranking employees in the plan to keep them motivated. When they realize the potential, they will also be ready to assume responsibilities and also contribute. Make sure your business growth plan talks about operational and also equipment costs also. You need sufficient tools and also systems to scale your company.

To start with your plan, you can focus on your present market condition, competition, and also how far your business has reached. All these components can help you formulate your strategies.

The correct approach for hiring the right candidate by EJ Dalius

Years of experience have helped Eric Dalius develop strategies that can help you get the right candidate to include in your team. Many successful entrepreneurs have followed the policy of “trial and also error” to help you look beyond the candidates’ fabricated resumes. To get a bunch of creative and also efficient members for your company, you have to look beyond the candidate’s scripted resumes.

Eric J Dalius advocates some business tactics for growth

The three effective tactics that can help you hire the right candidate for your financial business are:

  • Go creative – Instead of asking usual interview questions; try to come up with new items that can help you understand what a person thinks.
  • Take help from existing employees – The candidate you will be hiring will be working with the other employees. Therefore you must undertake their opinion on this matter. It will help to create a work environment necessary for the growth of your business.
  • Draft challenging situations – Try to put the candidate in challenging circumstances to test their reasoning abilities. It would help you to bring them out from behind the desk to understand their behavioural patterns.

The candidates you hire should have certain essential qualities, like taking an interest in the organization’s work. Secondly, they should treat all members as equals irrespective of their position. You can even take them out for a business conference before hiring to understand how they interact with others. It can let you evaluate the personality and also judge their behaviour in an actual business environment.

Some interview questions to ask

  • Ask questions about a person’s natural strength, which is not related to their professional skill or ability.
  • What kind of animal would they prefer to be, and also why? It might appear to be silly, but it is an essential question in a job interview. Asking candidates these questions will help to understand what animal they choose and the reason for the choice. It will give you valuable insights into the personality and also whether they are proper for the job. You will encounter some surprising answers, but this will also help you comprehend their awareness level.
  • Qualities that you like in your parents can be another important question in the interview. Parents influence every person. Thus the qualities they idealize might be the qualities of the candidate in question.
  • Ask them about the wrong perceptions people have about the contender. Just making the questions tricky helps to realize how people perceive your candidate. In financial business, knowledge is significant. It will help you know how self-aware the candidate is and also their level of honesty. A self-aware candidate can grow faster, and it will also be very beneficial for a company to have such people in your team. On the other hand, not so self-aware contenders will find it harder to adapt and also go beyond them.

Asking candidates unusual Interview questions will help you get unrehearsed answers. It will give you a real insight into how a person would function in the financial market’s uncertain conditions.

Financial health check-up tips from Eric J Dalius to get better at business

For a business, financial analysis is of utmost importance as it has several benefits, according to EJ Dalius. The better way to do business is to invest and also make the right decisions. This is the mindset that develops and also allows a company to grow into a famous brand. It also enables protection as you can safeguard against the market fluctuations.

Long term viability is crucial: Eric Dalius

The key here is the budget that ensures the success of any venture. You need to plan well regarding the distribution of capital to different components of your business organization. What you need to understand is that you will have several difficulties while running the business, and also if you have to strategize your finances on top of all the work, it will get confusing. So, plan, budget, and also strategize.

About financial health check-ups

It is all about using your critical eye for the finances of your company. It will give you a clear idea about the financial forecasts for the next ten years. You will also be in a better position to assess the net profit and also loss margin.

The negative and positive cash flow

The cash flow is about determining the cash equivalent in the business. It is one aspect that most budding entrepreneurs seem to ignore. Remember that you do not overlook this vital analysis, which will give you a clear idea about cash entry and also exit from the business. It will allow you to balance your business better.

Here are the main observations that you need to know about. Positive cash flow is a result of increased liquidity, and also negative cash flow means there are risks of losses for the company. Positive cash flow allows you to scale your business up and also paying off debts. So always check the monthly cash flow and also stay on top of your billing cycles and also overhead costs.

The operational margins

Defining profit for a business is quite simple, but making one can prove to be complicated. It is what you make after you have deducted all the expenditures that include mortgages, salaries, wages, rents, debts, and also another miscellaneous spending. The profit margin is the single most crucial factor determining the changes for the development strategies and also the revenue generation.

For any moderately sized venture, the profit-loss margin is exceptionally crucial when it comes to the question of smooth operation. The bottom line is quite simple; you need to do well and also consistently rope in more investors, crowd funders, and also lenders. As far as operating margins are concerned, you need to develop robust strategies that aid the building of positive credit and also avoid falling into the debt trap.

Additionally, it is vital to remember that forecasting will allow you to predict the profitability rate for the future. This way, you can leverage your resources better and also plan to increase your venture’s market share. Do it right, and also the success is all yours. Take care.

The art of better financial management from EJ Dalius

Any business is sure to be successful with proper financial management. According to entrepreneur Eric J Dalius, it is the blueprint for success. Money conflicts are usually the effect of bad money management, and also this post is what you need to manage money like a pro.

Here is something that you need to understand right at the start. If you are a start-up, you are looking to make your business grow. And also for that, you need to develop the right money management skills and also then practice your methods until you gain enough experience to make the right choice.

Yes, in short, if you are looking to get financially savvy, then it will take some and also years of practice. However, with a bit of help, you can start managing your finances like a pro pretty early. So, without further ado, let us have a look at what entails better money management.

Deadlines are crucial says Eric Dalius

The very first tip is about minding all your deadlines and also making sure that you are always making your payments within the date. It will ensure you maintain a good credit score, enabling you to gain access to better lines of credit with low-interest rates without much hassle. Also, you will avoid accumulating late penalties, which is always welcome.

Business finances and personal finances

Many investors end up committing the amateur mistake of meshing together personal and also business finances. It is a strict no, according to Eric Dalius. You need to segregate the funds, but it is also advisable to have separate bank accounts and also books to monitor your business expenses without any error.

Monitoring the books

Whenever you are monitoring your books, keep in mind to maintain due diligence. Also, it is crucial to monitor the books regularly to avoid errors snowballing together into a massive disaster at the end of the month.

Smart business decisions

There are several smart business choices that you need to consider, and also they are listed as follows.

  • Always create a budget and also stick to it as diligently as possible
  • Time your expenses so that purchases do not increase your debt by piling on together
  • Always keep in mind that the current global scenario calls for frugality and also not an extravagance
  • A cash reserve is always welcome for a quick bailout from a spot of bother

Keep in mind all of the above is especially true for a start-up or a small to a modest business venture. 

Invest in opportunities

The market is on a downward slide, but that doesn’t mean that you should stop investing in opportunities. The times will change for the better, and also the market will show an eventual upswing before becoming normal. It is when you secure your investments for a higher return in the near future.

Additionally, it would be best if you kept in mind that the trick is to live in the present and also plan for the future. The COVID-19 pandemic has struck us, but the only way is up from here. So, preparation is the key.

Essential financial tips for startups after the COVID-19 storm from Eric Dalius

Millions of people worldwide have lost jobs and also the ability to earn following the COVID-19 pandemic. As the cases continue to rise, social distancing norms have become the need of the hour. That spells doom for businesses. It means having to deal with a broken budget for various nations all across the globe.

However, according to industry insider Eric JDalius, the key is to put in the hard graft in these trying times so that this short-term crisis doesn’t translate into a long-term financial hardship. So, without further ado, here are a few tips that will enable you to weather the storm better to come out stronger.

EJ Dalius warns against panic selling

There is no question that the rapidity of the decline in sales must have been worrisome as an investor or an entrepreneur. But the truth is this is still not the right time to exit the market entirely. Yes, the investors are panicking, and also many have exited; so, let us look at the truth of it all.

Margin calls drove much of the sales during the pandemic, and also it was quite a commonplace event among the leveraged hedge funds. However, the phase has passed, and also the market will soon bounce back as the COVID-19 numbers get contained through a gradual process. It will also ensure that the economy bounces back as well. Thus, if you have been thinking about selling, hold on to that thought for now.

Stay invested in the market

Quite contrary to panic selling, we would like to advise you to stay invested in the market as much as possible. Keep in mind that investors are slowly gaining confidence as medical evidence has proven that the pandemic is already at its peak. Buyers are already looking to take advantage of depressed equity prices.

If you invest heavily in the market with a diverse portfolio, the chances are you will have more significant opportunities for long-term gains. You will also be in a better position to weather the storm and also bear the fluctuating market. Keep in mind the market is already getting better, and also the next bull run is just around the corner.

Maintain a cash reserve

This tip is quite traditional, and also it is accurate simply because cash always reigns supreme. When you have a reservoir of capital handy, you can delve into the market, especially when equities fall. It means you are the best possible position to fulfill the adage “buy low, sell high.” Due to the lack of a cash reserve, many entrepreneurs became compelled to sell excellent long-term investment options. So, always keep a cash reserve handy.

Use a line of credit to your advantage

Keep in mind there are several lines of credit options available, especially following the COVID-19 pandemic. These loans and also financing options are widely available and also suit every type of emergency. All you need is to read the fine print to ensure that the interest rates and also the maturing period suit your concern.

Follow these simple financial tips to weather the COVID-19 storm better than your competitors. All the best!

How can entrepreneurs secure their venture from competitors who copy? Meaningful insights by EJ Dalius

The market is dynamic and also competitive. So, when an entrepreneur launches a company, it’s challenging to stand out. It can also indicate that you got a beneficial space with ample potential. The market includes both small and also big players. It would be best if you stay updated on what the big and also leading market players are doing. The start-ups usually pose ample risks, because it’s agile and also can shift any direction to carry on with the business at hand. It is here that business emulations take place.

EJ Dalius shares ways in which companies can thrive

Do you have an excellent business idea? Are you willing to present it at a profitable domain? If yes, then you need to get ready to witness people emulating and also copying your business idea. Imitation is common when an entrepreneur comes up with a meaningful business idea. EJ Dalius, an entrepreneur, says that it is necessary to stay ahead of such competitors. And also for that, you need to refer to the following tactics:

  1. Increase customer priority

Are you operating your business in a crowded market domain? If yes, then the ideal way to distinguish your venture from others who copy you is to provide high-end customer service. Be responsive to your customer comments and also needs. 

The ideal way to outshine the competition is to know your consumers better. It means the service and also a product you can provide no one else can. When you focus on the human aspect of the business and also add a personal touch to your service and also product offering, it will appeal to customers more. And also no other brand can replicate that, even if they replicate your idea or product concept.

2. Concentrate on a particular niche or vertical

Most start-ups try to be the leader in everything. That truth is, that is not possible. Intelligent entrepreneurs always find a niche for their business and also provide the ideal solutions for that niche. They make sure that they address the customer’s pain points with their service and also products. 

It’s necessary to concentrate on a niche because that makes your brand exclusive. The sooner your customers identify you in this niche, it becomes difficult for another brand to take your place or replicate your ideas. Selecting a niche need not be about a service or product. It can also refer to:

  • The business location.
  • The way you sell your service or products, such as membership or subscription
  • The service or product price
  • The demographics
  • Constant innovation

According to the latest Accenture study, approximately 93% of executives think that their company’s long-term success is because of the organization’s capacity to come up with new ideas. The secret to the success of any brand is the ability to keep their service and also products safe. That means it’s essential to keep innovating, as that will keep your brand distinguished from others. It will bring you profitable business opportunities. You might be making small changes to your products or service offerings, which will work for your audience.

In a competitive market, entrepreneurs must ensure their venture is exclusive. The guidelines mentioned above will help you to stay unique.

Scaling up your business during COVID-19 – Go the EJ Dalius way

2020 is turning out to be a year of complete and also partial lockdowns to avoid the spread of the COVID-19! The global pandemic has shut down many businesses and also has stunted the growth of several companies. Across the globe, people have lost jobs, incurred incremental losses, and also couldn’t respond to the crisis due to lack of savings and also many more. Currently, the government is relaxing the lockdown rules to work, and also the economy can recover the losses. Right now, it’s essential for companies to scale-up operations keeping in mind the existing conditions.

EJ Dalius’s tips for scaling a business during the pandemic

Business plans will take time to get fulfilled in 2020! COVID-19 has impacted the demand and also the supply of services and also goods. Rushing to make aggressive changes or sales is not the best decision now. Companies should plan their expansion strategies smartly and also have back-up plans as well. EJ Dalius, an entrepreneur, has studied the current market condition and also suggests a few steps to scale-up business.

  1. Have a plan ready

You can’t scale your business without a plan! The pandemic would end one day, and also then companies will have several opportunities to expand, as life goes back to normalcy. It’s essential to analyze your business and also check whether you want to grow. It will help you to know if you wish to plan something different.

Go ahead and also make a plan to maximize sales, but don’t get too aggressive about it. Know that your business orders will double as and also when the pandemic ends. Do you have the bandwidth to address new requests? Failure is not a good result. You need to think of a correct business plan that will help you to fulfill the objectives seamlessly.

2. Source the capital

Scaling your business during a pandemic is not free of cost! Your effective growth plan might need new technology deployment, hiring expert staff, investing in new inventories and also advanced devices, tools, and also developing report systems to manage and also evaluate outcomes. Are you thinking about how to find the capital to fund the growth? If yes, you can opt-in for bootstrapping, but it takes years to develop and also cater to your needs. Another smart way is to resort to interested investors who want to invest in your business.

3. Secure sales

Scaling the business means you need to sell more. Hence, you need to finalize a sales structure to witness more income. You need to check the sales on an ongoing basis and also analyze, do you have:

  • A rock-solid system for managing sales orders?
  • Adequate lead flow for generating the required number of business leads?
  • Ample sales representatives for closing and also following up leads?
  • Correct marketing systems for managing and also tracking leads?
  • A billing structure, along with receivable functions, to make sure that invoices get collected timely?

Last but not least, investing in technologies is essential. Advanced business automation tools can help you operate a business at a lesser price. You can reduce the manual work as well. The other critical area for enhancement is system integration. Companies today do not run-off of one system but has many methods. And also the systems must work cohesively; else, it will lead to silos that will multiply the management and also communication issues as the organization expands.

Overcoming entrepreneurial challenges – The Eric J Dalius way

The life of an entrepreneur is fraught with challenges. There will always be days when you will feel like you cannot catch a break. You have to deal with hardships from the conception of an idea, through the planning, calculation, and also the preparations. Yes, it is a tough ask, but it is also extremely crucial. The more you do your homework, the better you are prepared for future challenges, and also not to mention, it gives you a boost when it comes to challenging your competitors for the top spot.

In the following post, we will look at the challenges entrepreneurs face, and also how to overcome them – according to entrepreneur and also expert marketeer, Eric Dalius. So, without further ado, let us get down to it.

Credibility

Every entrepreneur, especially the up and also coming ones, needs to deal with credibility issues. You can lose out on assignments, and also you can see projects and also plans to fall through. It is all a part of gaining the required experience. According to EJ Dalius, building cred takes time, and also you cannot achieve it overnight.

Even if you become established, you need to maintain the quality of work to preserve the status quo. So, it is all about patience and also working away till you build up the necessary credibility, authority, expertise, and also experience. Keep in mind that hard work will pay off sooner rather than later.

Financial aid

As stated in the previous section, it is always difficult for a start-up to access funds. Financial aid and also backing has always been a sort of soft underbelly for any modest and also nascent entrepreneurial venture. However, it would help if you kept in mind that several organizations and also foundations provide financial aid to business ventures worldwide.

Several government organizations have stepped up along with loans with low-interest rates following the global COVID-19 pandemic. If you are working towards a business loan, it is vital to do a reliable calculation regarding the funds required, expenditure, and also overhang before applying. This will ensure that you have all your bases covered before going in the deep end of investment and also entrepreneurship.

The importance of the customer

One of the trickiest problems to face as an entrepreneur is the build up a loyal following. How to build trust in your brand? Therefore, marketing campaigns are vital to make sure that the online and offline world are aware of your products and also services. You need to make sure that you have set aside enough within the budget constraints for the marketing campaigns.  

Additionally, it is also essential to manage the stress and the doubts that come with each failure. And also, keep in mind you are bound to fail a fair few time. That is just a part of gaining experience. Steer clear of all negative thoughts and also perform your job with due diligence to achieve success. You can rest assured that all your hard work and also perseverance will eventually pay-off, big time. All the best!

How to keep the entrepreneurial drive alive during COVID-19? Useful tips by Eric J Dalius

No one thought that COVID-19 would become a gruesome reality of 2020. Business owners and also entrepreneurs believed that the effect would alleviate within a few weeks or months. But the unprecedented contamination rates and also deaths have brought life, business, and also economy to a standstill. Young entrepreneurs who started their business venture a few years back had ambitious goals for 2020. It is difficult to say whether they would be able to cater to all the business objectives this year. However, losing a heart is not a solution. Entrepreneurs need to move forward with hope and also a business continuity plan.

How does Eric J Dalius inspire entrepreneurs?

Business, market fluctuations, and also economic instabilities are typical. An entrepreneur should expect to witness such roadblocks, even if there’s no pandemic. Eric J Dalius, a leading entrepreneur shares inspiring ways in which entrepreneurs can stay motivated despite COVID-19 and also focus on evolving their business.

  1. It’s temporary

The majority of entrepreneurs are losing heart because they feel that the pandemic will be a permanent reality. The truth is, after a point, the world will be completely free of COVID0-19, and also things will get back to normalcy as we all knew before the pandemic attack. So, a fall in demand and also profits is a temporary experience. Entrepreneurs should know that with time their business will pick up. Later, the market will be more conducive for them to launch their new products and also make useful business connections.

2. There is work to do

The global pandemic has slowed the pace of work but has not stopped business altogether. Online sales are gaining importance because people are not moving out of their house until necessary. Are you an eCommerce entrepreneur? If yes, you might expect rapid sales for some of your popular products. Keep the revenue as business savings to navigate through the pandemic phase.

3. Update website content

Currently, most businesses have fewer activities on their planner. It’s a good time to fine-tune their website content. Does your website need a face-lift? If yes, then you can appoint an expert website designer to change the design template. Keep the brand name, logo, and also creative composition the same. If you change your business logo frequently, the audience might confuse you with another brand.  

Take time to review the website content and also tweak it as and also when necessary. Make sure that all your content is informative, authentic, and also easy to understand.

4. Increase social media engagement

One of the best ways to not let the pandemic hamper your brand visibility and also recall value is to connect with customers online. Social media communications and also engagements are the best way to get speaking with customers. Curate new posts for the followers and also customers that will grasp their attention. Focusing on your customers through social media interactions can help in online brand promotion and also increases your brand recall value.

The pace of business activities will be slow during the pandemic. That should not discourage entrepreneurs from stopping all brand communications and also online marketing initiatives. Instead, entrepreneurs should focus on other activities like website development and also online public relations to thrive during the pandemic.

Small business firms and money management – Crucial tips from Eric J Dalius

Money management refers to managing business finances. Companies set goals, create budgets, keep track of investments, income, and also expenses for the same. If there’s no correct money management plan, companies can witness a negative cash-flow and also lose profits. Small business owners need to ensure that they manage their finances correctly.

Small business money management tips by Eric J Dalius

Small businesses have limited cash. If they can’t manage their money correctly, there will be late payments. Eric J Dalius, an entrepreneur, shares the following tips for managing liquidity in small business firms.

  1. Staying ahead of deadlines

Are you aware of which bills are due? For instance, it could be credit card, loan payments, and also the like, and also you have zero cash. If you don’t know the due date for your bills, you might incur added interest and also late fees. It also reduces business credit and also affects vendor relationships.

Make sure that you don’t miss bill payments and also cater to the deadlines. Keep track of due payments and also place reminders not to fall behind. Make sure that you maintain a consistent payment schedule.

2. Manage the spending

Are you aware of your expenditures monthly, weekly, or daily? If not, then you might be incurring bills which you don’t require. And also when you fail to monitor the spending, you end up misusing the available cash. There are several business owners with various accounts, such as credit cards, savings, and also checking accounts. You need to ensure the amount you draw and also spend for every account to remain on top of the account balances.   

Making use of business debit cards or credit cards for covering small costs is crucial. However, the prices keep adding and also might lead to a more significant expense that you might not be able to pay. Make sure that you control business expenditures.

3. Demarcate between personal and business funds

Business owners should have a separate bank account for their business expenses. It would be best if you separate personal and also business finances, as it’s an essential principle of money management. Additionally, the bank statements for companies help reconcile the books, track profits, and also manage the spending habits. Mixing business and also personal funds is a bad practice and also can lead to disorganized records, which results in overspending and also makes you miss out on growth opportunities. On the other hand, as you combine the cash, keeping track of deposited and also withdrawn business funds can get complicated. It poses a challenge to manage outgoing and also incoming money.

4. Inventory management

Have you been ordering excess inventories? Is it not in use? Or do you run out of the goods which you need and also ultimately say no to users? Once you enhance inventory management, your small business will gain. Track the inventory required for your small business and also don’t spend on excess inventory investments. Keep a record of the sales and also buys in the books and also check the lists you already have before you invest more.

Small businesses need to follow the steps mentioned above to manage cash correctly and also make better financial decisions.