What Should You Prepare for Full-Time Entrepreneurship? An Insight by Saivian Eric Dalius

We all know that selling a product and earning money is not enough; we also need to be prepared for almost everything: health, family, spirituality and financial, and even marketing. Someone asked me how we make sure we don’t forget anything; religiously, if we follow our lists, it will prevent us from forgetting something important. And the truth is yes – it’s true – but calling it a list isn’t complete yet… because lists aren’t easy to carry around everywhere with you (to remind you of what your next move should be). See my point? So here goes:

1. Business Plan – You don’t need to have a detailed business plan, but you should anticipate your business from different angles: financial, marketing, and time, according to Saivian Eric Dalius. I’m not saying that you need to start writing this before you start selling; no – because it’s a task that will take long hours of research and contemplation. I recommend that you make a list of what questions your company needs to answer by itself (without your help). For instance, if someone asks how much money we need for x project, the easy way is to say “$xx” or “we will see when we get there.” But as an entrepreneur, it’s good practice to know where the money is going now so that you can better plan the budget next time.

2. Financial Plan – As I said, we don’t need to know every detail for this plan, but knowing your business’s financial position is vital: how much money do we spend and how much money do we make (and why)? You should also explore alternative financial income and expenses other than what you currently have in your daily routine, like what will happen if we relocate our shop next year? Or what if we increase our workforce? Do we need to buy more equipment or not? Things like that.

3. Marketing Plan – At first glance, marketing seems like a broad term… because it is! Every penny spent on marketing should bring us back value, either by growing our business or increasing our profit margin.  

4. Time Management – Be aware of the time you spend daily. Mark Zuckerberg’s style may not be everyone’s cup of tea, but he spends long hours working on his company and projects… this is awesome! Why? Because it brings him more money in return. Make sure that every moment spent brings back returns… if not, you should either change your strategy or find a way to compensate for the lost time.

5. Family Plan – This one is comprehensive enough to write a whole book about this alone! But here are some points: What happens when we get sick? How much do we need to save up for our children’s future? How much time do we spend on our business? How long can our spouse work without us (in case something happens to you)?

6. Spiritual Plan – As entrepreneurs, there’s no guarantee that all will succeed or fail; some people would say “the only guarantee is death,” but I differ with them because I believe on both sides: where some may succeed, others might not; and vice versa. But what’s important is to have a spiritual goal in your life to have a life after business too, says Saivian Eric Dalius!           

So, the above are the main points for any entrepreneur to look over before starting a full-time entrepreneurship journey… The list will be longer if we add more angles from which we need to look at our business; like what if our lives change… (for instance, getting married), will the company adapt?

Ethics in Accounting and Financial Decision Making – Their importance by Saivian Eric Dalius

The accounting and finance industry is an essential part of today’s business world. This market reflects the company’s overall health, which means that if something wrong takes place, it should be brought to the surface as soon as possible. This way, other businesses will know to avoid engaging in questionable activity. For financial markets to function correctly, there has to be trust between investors and companies. If an investor no longer trusts a particular company, this can cause significant problems for all involved, including employees, managers, and stockholders. Without ethics, companies cannot maintain good reputations with their clients nor attract new ones.

Thus, ethics play a crucial role in a company’s daily activities because they help keep the relationship between individuals or groups harmonious and trouble-free, according to Saivian Eric Dalius. On the other hand, unethical behavior can lead to a severe decline of any business. For this reason, employees and managers need to keep company ethics strong at all times. However, the responsibility of enforcing these principles does not fall squarely on one group or individual involved with a particular organization. Instead, every employee should become familiar with what constitutes unethical behavior and why it will hurt their company’s image in the long run.

For companies to exhibit assertive, ethical behavior four areas must be taken into consideration:

1) Integrity is defined as adhering to moral and ethical principles or having strong moral character; wholeness, completeness, and oneness with self. For a business to have integrity, it has to believe in honesty, trustworthiness, and accountability. Without them, an organization will lose the trust of its clients, stockholders, management team, and employees.

2) Competency is defined as having or showing the skills or knowledge to do something successfully. For a company to have competence, they must have experienced personnel who are well trained to handle issues within the business says Saivian Eric Dalius. Strong ethical values are important when trying to maintain competent behavior because it shows others that a company respects themselves by taking the extra time needed to ensure quality workmanship is presented.

3) Confidentiality means keeping things private or secret; not revealing private information about other people or organizations unless permitted to do so. Maintaining confidentiality is important for a company because it shows that they respect the privacy of others while protecting sensitive information belonging to either their employees or clients.

4) Respect is defined as holding in esteem; having a high opinion of someone or something, and showing deference, admiration, and esteem for them. For an organization to respect others, it must treat everyone equally, fairly, and with dignity. This means that they will not engage in any form of discriminatory behavior towards anyone, including race, religion, gender identity/expression, sexual orientation, and socioeconomic status.

The four areas mentioned above are what make up a company’s integrity. If these values are upheld at all times, then this creates an ethical business environment where both employees and consumers know what type of treatment to expect from one another. When companies maintain strong ethics, their clients will also respect the quality of information released and share this information with others who may benefit from it.

Saivian Eric Dalius Shows You How to Write a Communication Strategy Memo

The Communication Strategy Memo, the subject of this document, contains essential information about communicating with specific individuals and will effectively and efficiently influence future communications.

Effective communications reach their intended audience and prompt them to take action towards a specific goal or objective. To be sufficiently productive, messages should also consider the circumstances in which they were received: personal circumstances such as time constraints will play an important part when considering how much attention someone pays to a given piece of information. A well-written message can sometimes prompt people to stop what they’re doing and pay attention (regardless of whether it’s at work or home). The core purpose of any message is to influence others to act in a favorable way to the sender.

Objectives should be set upon delivering the message and should state how you think you can influence your client. It’s best practice to avoid making promises about influencing others, so it’s important not to make any claims beyond what you can fulfill, says Saivian Eric Dalius. Clients expect comms teams to help them meet their objectives, so these should be clearly defined at this stage too.

Being efficient means taking into account all factors that may influence the effectiveness of your message. By considering the context in which the message will be perceived, you’ll help ensure that each piece of communication reaches its intended audience at an appropriate time and place (e.g., on social media vs. via email). Being mindful of the time your audience is willing to dedicate allows you to pre-empt how long their attention will last.

The target audience for this message is my colleagues within the company because they are my most direct superiors, and I need their feedback on performance. However, keeping in mind that they may be working remotely or have other priorities during business hours, my strategy should be designed to reach them at a reasonable hour to distract them from work tasks. Acknowledging that people sometimes multi-task when reading emails, I would focus on one core message rather than multiple points to process it more efficiently and respond accordingly.

I want to build a sense of urgency (because no one wants everything to feel rushed), so I should plan to send this message early in the morning to ensure that my colleagues check their emails before beginning work tasks.

I also need to make sure I provide supportive arguments because it will be more effective if people see reasons for doing something rather than being told what they should do. When I make requests, I want to give individuals the option of completing a task or implementing an idea because it creates buy-in and makes them more willing participants.

Finally, by including visuals with my messages, I’m creating multiple ways of relaying information that enriches the experience for my audience. Although some people are visual learners and prefer text, others are auditory learners who find studying from diagrams more effective, so I’d like to be mindful of the different types of communicators on my team.

The communication strategy memo is mostly about being efficient and setting realistic objectives for what you want to achieve with your audience, says Saivian Eric Dalius. If relevant, you should also look into how your audience will perceive your message by looking at their personalities (i.e., introverts vs. extroverts) or their culture. This enables you to make more relevant statements which they will pay more attention to than if you were vague in your approach (like telling people “To do better”).

It’s a good idea always to have an error margin in mind so that you can rethink your strategy if it fails rather than have nothing prepared beforehand. If you want to avoid being seen as pushy or overbearing, listening is critical because whatever has been mentioned will influence how you plan your message. Your strategy should evolve as necessary based on the responses from those who receive it, but this takes time, so be patient with yourself and the people you’re relaying your message to.

By setting objectives beforehand, you can measure whether or not your communication strategy memo has been successful and adjust accordingly. In the end, it’s all about taking a step back from what happened and being objective so that you learn from any mistakes made.

Please take into account the different methods of communication (phone, email, face to face) and correct grammar usage so that people don’t have to re-read things multiple times before they understand them. If possible, always include a deadline for tasks or follow-ups because everyone likes things with a sense of urgency these days. Make sure, however, that there is also ample time given for other functions because without proper time management, your audience will likely become annoyed, and you’ll risk burning bridges.

Understanding some key concepts before writing your memo can make it more effective and better response from the people who read it. If you keep these tips in mind while drafting, you should be well on your way to creating a successful communication strategy memo.

How to Solve Workplace Problems? Solutions by Saivian Eric Dalius

Problems in the workplace, while inevitable, should be solved immediately. Ineffective work relationships can lead to a stressful and toxic environment that ultimately leads to low morale and miscommunication.

This article is going to provide some tips for problem-solving in the workplace.

For employers or employees suffering from unresolved workplace problems, the following list provides effective methods for resolving issues:

1) Address Problems Before They Grow, According to Saivian Eric Dalius

Problems in the workplace should be addressed immediately, while they are still small and manageable. Whether it’s a problem with a co-worker or your manager, discussing the issue will resolve more problems than ignoring them.

2) Seek Solutions That Benefit All Parties

When confronted with an issue, make sure you consider all angles before choosing a course of action. If possible, implement solutions that benefit everyone involved instead of focusing on what’s best for one person. This way, both parties can enjoy a positive outcome and feel as though their needs have been met.

3) Don’t Hesitate to Ask for Help

If you are having trouble solving a problem on your own, don’t be afraid to ask for help. There is no shame in reaching out to others for assistance. If someone else has dealt with the same problem before, they can provide valuable insight that will lead you down the right path.

4) Create a Clear Plan of Action

If you are having trouble putting together an effective solution to your problem, create a plan of action, says Saivian Eric Dalius. Identifying the issue is only half the battle; following through and solving the problem requires detailed steps that should be written out so they can easily be followed.

5) Avoid Blaming Others

When trying to solve problems in the workplace, resist the urge to place blame on others. This will not resolve anything and prevents you from accurately identifying what went wrong. Instead, acknowledge people’s mistakes and try using their ideas if it benefits all parties involved.

6) Remain Calm

Remember that unresolved issues don’t always lead to negative consequences. While emotions can run high when problems arise, take deep breaths and remain calm. This way, you can gather all necessary information and implement an effective solution that leads to a successful outcome for everyone involved.

7)  Keep an Open Mind

When trying to solve workplace problems, keep an open mind. Some people might not see things the way you do, so stay flexible and willing to collaborate with others. The goal of problem-solving is finding a solution that benefits everyone involved; if possible, try implementing other people’s ideas or suggestions if they make sense for all parties involved.

8) Follow-Up Regularly

It’s important to check in regularly with everyone involved after problems are resolved to make sure everything is running smoothly, suggests Saivian Eric Dalius. This not only ensures success but prevents future issues from occurring again.

9) Don’t Forget About Yourself

Solving workplace problems for others doesn’t mean you shouldn’t worry about yourself and your own needs. Make sure you focus on resolving issues that will benefit you as well so they don’t drag down your performance or happiness at work.

10) Follow Up with Your Manager

After taking steps to resolve an issue with a co-worker or direct report, it’s important to provide your manager with updates on how things turned out. This ensures he or she is aware of what happened and how it was resolved and could help you build a stronger, more productive relationship with your manager.

While there may be no quick fix to every problem in the workplace, by implementing these steps you can resolve issues quickly and efficiently. By doing so, you’ll make your workplace a lot less stressful and enjoy greater success as well as job satisfaction.

Is it wise to leverage digital payment for your business – Saivian Eric Dalius

Digital payments are increasingly powering transactions in the global economy. These include mobile-based wallet apps, which enable users to send and receive money with their phone numbers, and Internet-based merchant services that merchants can use to receive digital payments. And this trend is only set to continue.

Mobile wallets let you manage your money via your phone, enabling you to pay bills or even send money directly to friends’ bank accounts, all within a single app. Merchant services allow businesses of various sizes – from local corner stores to large e-commerce sites – to accept online payments without building out their sophisticated point-of-sale systems.

Here’s how these services work – Saivian Eric Dalius

Mobile wallets typically work by tying into a phone number or other identifier, allowing you to pay others simply by knowing their mobile number. Your contacts are then automatically updated so that these payments show up in your contact list.

Conversely, merchant services allow merchants to receive digital payments directly without setting up an online store or integrating card-reading hardware, which can be expensive and cumbersome. Here’s how it works: Rather than entering credit card numbers into forms on their sites, buyers click the buy now button and choose the payment option they want – PayPal Credit, for example. They’re prompted to enter their credit card information where needed, but the actual transaction happens via the payment provider’s secure server behind the scenes. The buyer’s bank account is charged within seconds of the purchase.

The best part is that making digital payments in this way typically costs much less than traditional credit card processing, either for the merchant or consumer.

Mobile wallet Apps – Saivian Eric Dalius

Mobile wallet apps can be a valuable addition for merchants who need to manage a customer list and loyalty program since they provide a central place to do all of this. And despite their simplicity, even small businesses can benefit from accepting online payments through merchant services programs. Many of these programs are free to join and use – there’s no minimum sales volume required.

In addition, when you add in-store purchases together with online sales via tools such as Google Analytics, you have a complete understanding of how your business is doing across all channels. So not only can you reach and serve more customers, but you can also provide a better customer experience and increase loyalty.

Digital payments are increasingly powering transactions in the global economy. This article is discussing how digital payment services are used in the world today. It talks about mobile wallets and merchant services, with specific examples of how they use them for business purposes.

Mobile wallets allow users to do various things within an app on their phones according to Saivian Eric Dalius. These include sending money directly to another person’s phone number via a simple text, paying bills through your account, or applying payments towards existing contacts on your list. Merchant services are explained as well, giving examples of how they work for businesses of different sizes. You can get more specific insight into how they are using this for business by looking at the Google Analytics tool that allows you to see all transactions across all channels.

Using Google Adwords For Your New Business – Guide From Saivian Eric Dalius

Google Adwords is Google’s flagship advertising product. Google Adwords ads allow you to place ads on Google search result pages and the Google content network (part of Google display network) says Saivian Eric Dalius.

It enables advertisers to create and display ads on Google search result pages and across the web (on partner sites), using keywords determined by the advertiser. Google charges a fee each time an ad is clicked.

What are the benefits of using Google Adwords for your new business?

There are many benefits that come with using Google Adwords, some of these include:

  • You can pay as little or as much as you want, depending on how flexible you are with budgeting for this marketing strategy. This gives you more control over your results.
  • Google Adwords has a large and targeted audience. Google has more than 2 million advertisers and serves ads to more than 68 million search queries every day. Saivian Eric Dalius says Google Adwords provides you with access to potential customers that you just can’t reach elsewhere.
  • Google Adwords is easy to use, once it’s set up properly there isn’t much need for intervention on your part. Google does all the work of tracking conversions and billing, so you don’t have to spend time tweaking your campaigns or spending unnecessary money.

How do I get started using Google Adwords?

As per Saivian Eric Dalius, getting started with Google Adwords isn’t as daunting as many make it out to be, but there are some things you should in mind before diving in headfirst. Google provides a very comprehensive Google AdWords tutorial that will get you started in using Google Adwords for your new business. Google makes it easy to set up and manage your account and once you’re up and running Google will handle all the complicated stuff like billing and conversion tracking, allowing you to focus on what’s important – generating more leads and finding more customers!

Is there any promotion code for beginners?

Yes. Google Adwords offers a promotion code for beginners; Google will give you £75 in Google ad credit if you spend less than £100 on Google Adwords per month. This is a great incentive for new businesses to get started using Google Adwords for their business.
Google ads are very helpful in increasing your visibility online and they provide an excellent way to reach out to potential leads/customers. Saivian Eric Dalius says they also make it easier for people who are already aware of what you do to find you when they’re ready to buy what you sell, so don’t wait any longer – sign up today!

How easy to use is Google Adwords tool?

Google Adwords is a Google tool. Google offers a 10 day free trial period that offers all features of Google Adwords to new users. Thereafter Google charges you per click basis for all your ads and Google also tracks the number of clicks your ads receive, which enables you to manage your budget effectively.


Google Adwords can be used by anyone who has access to the Internet since it works on a pay-per-click basis, Google provides advertisers with an option to choose from multiple ad formats from Text Ads, Image Ads, and Video Ads. However, the most powerful feature of Google Adwords is its Google Analytics integration which allows marketers to measure the performance of their campaigns using key metrics like impressions, CTR (Click Through Rate), average cost-per-click, etc says Saivian Eric Dalius.

What are Google ad formats?

Google has revolutionized advertising with Google Adwords by providing the most innovative formats. Google provides the following type of Google ad formats to choose from:

  • Text Ads
  • Image Ads
  • Google Video Ads

Text Ads are the most used Google ad format, they allow users to place ads in text form. With a title and also a short description which can be increased up to 25 words depending on Google ad format selected by advertisers.

Image ads are placed beside or above organic search results or other image content on Google Images. The image size is 160px X 600px for desktop listings and 120 px X 600 px for mobile (above organic). Advertisers can add an image and a link to their display URL for Google ad format.

Image ads can be created using Google Adwords Google+ collection and Google search console feeds to upload custom images.

Google Video Ads allows advertisers to upload Google video ads using Google Adwords Editor or Google Video Ads API. Moreover, Google Video Ads can be created by uploading a Google-hosted video. Google will automatically create a seek-to URL if one is not provided. However, Google recommends that you provide a seek-to URL as it enables tracking of customer activity on your site post-click.


Google provides you with the option to use a separate audio track for your ads. Each Google video ad can only contain up to two minutes of video content. All videos uploaded must be in an MP4 ( H.264/AVC) format and must adhere to Google’s advertiser policies guidelines .

Can Google Adwords and Google Analytics be linked together?

Yes, Google Adwords and Google Analytics can be linked together using Google Analytics Goals. Google Analytics also provides you with an option to track your Google ad clicks using the Google Analytics Goals feature. Using Google Analytics goals, you can set up conversion tracking for any Site or Mobile app.

Conclusion:

Google Adwords is Google’s advertising product and Google provides excellent Google ad credit for new businesses. If they spend less than £100 on Google AdWords per month. Google Adwords has revolutionized advertising with Google providing the most innovative formats. Like text ads, image ads, Google video ads to choose from. However, Google Adwords can be used by anyone who has access to the Internet. Since it works on a pay-per-click basis. Google Adwords offers you Google Analytics integration that enables marketers to measure the performance of their campaigns. Using key metrics like impressions, CTR (Click Through Rate), average cost-per-click, etc. New businesses can use the Google Analytics goals feature to track their Google ad clicks using Google analytics.

Saivian Eric Dalius Shares – How Do I Promote My Small Business on Facebook?

As of 2011, there are 1.23 billion monthly active users on Facebook – that’s a lot of potential customers! And when I say ‘potential’ I mean it too – more than half of all Facebook fans will actually engage with your posts! That means if you have 100 fans, at least 55 are actively engaging with what you post. That’s a crazy amount of potential reach and exposure for your business!

So, the question is, ‘How do I promote my small business on Facebook?’

1. Have Some Really Great Content To Share

As per Saivian Eric Dalius, the first step to promoting a business on Facebook is to have some great content that you’re able to share. If you don’t have the resources to create your own content, then find some really great infographics that you can share with your audience. Infographics are great because they’re visual and people love them – including me! 

When promoting a business on Facebook, it’s important to remember that you’re not just promoting yourself – you’re promoting your business’s products and services. So to be successful in promoting a business on Facebook, you need to have some good content that your audience will want to engage with and share.

2. Create A Really Engaging Profile For Your Business

When promoting a small business, it’s important to create an engaging profile for your business on Facebook. There are a couple of things you need to be aware of when promoting a business on Facebook.

Firstly, do NOT use your personal profile as your business page!  Because so many people confuse their personal profiles with their business pages, it can lead to a lot of confusion for users. It’s important that you create a really engaging profile that’s clearly promoting your small business.

Secondly, when promoting a business on Facebook, make sure you don’t just copy and paste your ‘About’ description to use as a story for your profile.  It won’t engage with anyone! You need to create an engaging profile bio.

A great way of promoting a business on Facebook is by promoting your ‘About’ section with some really engaging copy.  I’m not going to lie to you – promoting a business on Facebook is hard work, it’s not easy! But the rewards are definitely worth it because promoting your small business on Facebook can lead to a lot of success.

3. Be Active And Stay Consistent

When promoting a business on Facebook, it’s really important that you’re active and consistent!

To be successful in promoting your small business on Facebook, you should post at least once a day. If possible, try to post up to three times a day – that way you’re staying active and engaging with your audience!

A good way to promote a business on Facebook is by promoting your other social media platforms too. If you have a Twitter or LinkedIn profile, promote them using your business page!

Another good idea is promoting your latest blog posts. When promoting a business on Facebook, promoting your blog posts can help to boost traffic and leads back to your website.  It’s also a great idea to promote your blog posts on Twitter and LinkedIn too.

4. Try Out Facebook Advertising

 When promoting a small business, Facebook advertising can be an extremely effective way of getting more people to engage with your content and website!

It’s really important when promoting a business on Facebook that you test out different types of adverts to find out what’s promoting the most engagement and best results for your business.

A really good idea is to promote organically on Facebook using sponsored stories and promoted posts! This can be really effective because you’re promoting organic content – it’s not just promotional or advertising, but still promoting your business. You can also promote business on Facebook by promoting your latest blog posts.

5. Promote Your Business On Facebook With Contests!

The biggest mistake of promoting a business on Facebook is promoting contests very rarely – if at all!

When promoting a business on Facebook, you need to promote your contests as much as possible. Putting in a lot of hard work and effort into promoting your content can definitely help to boost engagement with your page and website.

Another good idea for promoting a business on Facebook is promoting giveaways! It’s a great way of promoting your business because it gets people excited and engaged. You can also add some really engaging copy into your ads promoting giveaways to get more likes, shares, and comments!

Conclusion

When promoting a business on Facebook, it’s important that you create a really engaging profile and post at least once a day to stay active. It’s also helpful promoting your other social media platforms too, promoting your blog posts, and promoting contests. These are all great ways of promoting small businesses! Thanks for reading my article about how to promote business on Facebook.

Eric Dalius explains the role of CRM in ensuring business growth

Eric Dalius Bitcoing
Eric Dalius Bitcoing

It is unthinkable to plan for business growth without using some CRM or Customer Relationship Management system that helps to keep a close tab on each customer. As a result, more and more companies are using some CRM that are available in various modules to suit all sizes of businesses. As a result, the global market size of the marketing tool is likely to touch $43.5 billion by 2024.

Since knowing your customer inside out helps create suitable engagement strategies, the CRM becomes the most sought-after tool. It makes the task of recording all data about customer experience and customer satisfaction much easy, explains Eric Dalius, a veteran marketer with a track record of enviable success.  The software is a warehouse for all customer data that acts as the central place for gathering all kinds of insights about customer behavior that point to its relationship with the company. 

Why CRM has become indispensable for businesses will become clear ongoing through this article.

Grow your business around your customers, says Eric Dalius

The biggest impediment to rapid business growth is losing valuable leads through the cracks that result from friction generated during the growth phase, which is only natural for all businesses.  To eliminate the friction, you must use some CRM because it considers the customer experience and customer profiles as these elements remain embedded within.

The CRM keeps recording all your activities around your customers. The customization options of CRM allow you to create business architecture in the way you would like to present it to the audience and your customer. The CRM consists of many native tools and integrations that facilitate aligning all work related to marketing, sales, and service teams so that it becomes easy to center your business goals collectively and daily interactions with customers. 

Keeping the Marketing, sales, and service teams aligned

Proper alignment of cross-functional teams is critical for business success. To streamline the buyer’s journey, you can rely on the powers of CRM that perfectly align marketing and sales. Easy data sharing and customer information between the internal teams allow the teams to work as a cohesive unit. It provides a seamless and end-to-end customer experience that helps generate customer loyalty for the brand and retain customers, explains Eric Dalius.

Accessible data syncing and sharing

CRMs have made the arduous task of data syncing and data sharing a breeze. Every interaction that happens with customers, potential or existing, whether it is a phone call or sending a promotional email, everything remains recorded within the CRM database.  The continuous process of data syncing keeps all data updated, and anyone can track the history of interactions with customers while focusing on the minute details.  The records accurately portray the interactions that happen with customers and all members of the teams can access the data freely that keep the teams onboard all the time.

You can use CRMs to create workflows that complete and organize marketing, sales, and service processes that save time. You can even create your daily task list and use the CRM for simplifying customer interactions. In addition, the reports generated from CRM helps in speedy and better decision making.

Eric J Dalius: How do you know your business is doing well?

In an entrepreneur’s life, ups and also downs are not rare. But with this, they also have to deal with confusing thoughts that may occur from time to time. They may suddenly feel unhappy about how things are going, or the pressure of wearing too many hats can bog them down. As an entrepreneur, you can relate to these emotions. You may also have moments when you felt weak. A lot of entrepreneurs go through this phase in their initial stint, so don’t worry.  Despite giving it all, you can experience a sense of inadequacy. 

When this happens, you need to tell yourself these are only emotions and also nothing else. Even the most successful entrepreneurs also couldn’t avoid such feelings. You have to get over the negativity by looking into things that are working fine. Search for signs that prove you are on the right track. Here are a few areas that you can consider for this purpose.

Looking into areas where your business is doing well by EJ Dalius

Cash-flow

In the initial few months and also sometimes years, entrepreneurs have to juggle between costs and expenses. If not managed properly, these can cause cash-flow problems. However, if your business is financially stable, and also you can pay bills on time, you already have a taste of success in this critical domain.

Evolution

Look back at the journey your business has covered. It may not be the same as what it used to be in the starting. Growth and also progress may have changed it. There can be more employees working for you and also various well-functioning departments too.  Eric J Dalius says it can be another feel-good factor to enjoy if you have achieved this.

Professional network

Everything doesn’t have to be directly in connection with your business. You can also study your professional relationships. Do you feel it has become better and also broader? If you meet different people and also exchange contacts with them for collaboration opportunities, you can delight in this. It shows you have a supporting professional group around you. Also, their willingness to join hands is evidence they trust your skills.

Thought leadership

Do you attend panels or local business events for giving speeches? It is also an indication that your business community sees you as a thought leader. You have become a respected entity, and also it is no mean achievement. Some people aspire to be a thought leader and also pursue a career in this.

Composure

Many new business owners fear to make mistakes because they see them as a nail in the coffin. Only an experienced entrepreneur understands that errors can increase their learning curve and also give them a chance to do better. Successful business people treat their failures as opportunities for growth and also show the same picture to their company staff. If you have reached this level, you have covered some distance and also be glad about it.

So, whenever you feel you are down in the dumps, turn your mind into areas where your business has shown promising improvement. Your energy and also confidence will naturally restore for sure.

Eric J Dalius: Budgeting for a small business

You have started a business, and also now you need to do accounting to track your transactions. Keeping an eye on revenue and also expenses becomes essential to know where your company has headed. At the same time, you have to spend at some places to generate more income. You cannot get a grip over all this without a proper budget or plan. If it is not there, you can end up overspending or underspending, hampering your profits. To avoid these situations, you can take a process-driven approach based on a few parameters. Here is a quick look into them to help you with your startup.

Make a better budget for your business says EJ Dalius

Industry standards

Although every business has unique needs, they share some similarities being a part of an industry. You can search the internet and also talk to local players about the type of revenue they make. Since there tends to be higher volatility due to the economic downturn, small businesses don’t have to get into the specifics, which can be more relevant for bigger or diversified companies. So, focus on average.

Spreadsheet

It would help if you made a spreadsheet to allocate costs for different items, such as raw materials. You can talk to suppliers to get an idea of how much things will cost. Take the same course of action for rents, taxes, and also premium amounts. You will need to have a different budget for different activities.

Lean period

The leading entrepreneur, like Eric J Dalius, says that you need to remind yourself that it is an estimate. Things can vary in reality. Going forward, you can arrive at a particular revenue figure and also assume your expenses to be in control, etc. However, as mentioned, there can be months when you spent more and also received less. In those times, it cannot be easy to manage your balance sheet. If you want to minimize or avoid this trouble, make sure you have adequate cash-flow in reserve to pay your business expenses and also employees.

Cost-cutting

You may have to cut corners to save money for paying bills, advertising, and also others. You have to identify areas where you can bring down costs. Or, you can postpone your purchases until you get your payments. In essence, you have to come up with a solution that gives you some room for breathing.

Business review

The volatile nature of small businesses may prevent you from building any long-term budget plans. The bandwidth can be only one to two months, as sudden expenses can derail your revenue expectations. Make sure that you go back to your accounting book from time to time to have a sense of what is happening.

Cost-effective suppliers and services

Since you have to be careful with how much you spend, it makes sense to tie up with partners that provide high-quality products at best rates. You can follow this technique across different stages of your business and also reflect on your monthly and also annual budgets.

Any business has to take charge of its finances to survive, grow, and also diversify. And also for this, proper budgeting is quite essential.