Dallas Business Consultant Elijah ClarkDallas Business Consultant Elijah Clark

Don’t give up on your business

We’ve all been there

Online exposure is generally about making simple modifications to portions of your website and networks. When viewed individually, these adjustments may seem like incremental improvements, but when combined with other social and optimization efforts, they could have a noticeable impact on your social networking and online traffic.

If you’re anything like most new businesses, you’ve possibly created a brand new website or social network page and hoped that users would magically show up at your site and purchase whatever you were selling or promoting.

After a few weeks and with nothing more than a few stray people showing up at your page, you make the decision to try and “optimize” your website and campaigns with your main keyword in hopes that your site might rank high in at least 1 of the millions of search engines. Another few weeks go by and still no luck.

At this point, you might give up and choose to either rebrand your networks for a different target market or simply quit after losing all hope. Well, news flash, as you may have figured out by now, this is not the right way to go about fixing things.

The best thing that you can do for your “failing” business is sit back and develop a strategy for success.

Projecting your business revenue

Projects profit & Loss

The profit and loss statement (also known as the “income statement”) is the most common of the standard financial reports that bankers and investors will expect to see in a business plan. It shows the revenue, the expenses, and the net profit or “bottom line.”

Projected balance sheet

The balance sheet is one of the three standard financial statements. Unlike the profit and loss statement, which measures activities and their effect on profitability during a given period, the balance sheet is a snapshot of the business’s financial position.

Projected cash flow statement

The cash flow statement is a valuable tool for understanding and planning the organization’s cash flow. The cash flow statement is not a snapshot like the balance sheet. Instead, it measures the change in cash during a period.

Building a website

The Building Process

When having a website built for your business, make sure to build it for your customers and not for yourself. Research your industry and focus on making sure that you are going to gain customers. Some designers build simply for themselves, or they build for the client. By building for your customers, it allows you to target who is actually going to be viewing the website. Don’t design for just looks, but design for a purpose and a target audience. This is were many designers fail. If the customers don’t like the colors, then no matter what you or your designer may think, those colors need to be changed. When building a website the designer and business owner need to focus on the customers wants and not their own.

Why your business goals need milestones

Milestones cover the business’s major events and achievements that need to occur to keep the strategy on track for success. Milestone events are strategically important for your business and provides an outline of dates as to when the events should take place.

When developing milestones, have in order:

  • Name of the task / goal
  • Due date for the goal
  • Budget for the goal
  • Person responsible for completing the goal

Once your milestones are in order be sure to let your business partners know that you need to follow the milestones. Additionally, the milestones should be tracked and analyzed with real results.

Not sticking to the plan will cause your strategy to fail.

Strategic business sourcing

Effective Sourcing

Most all businesses have some form of sourcing to other individuals or companies. Strategic sourcing is an approach that formalizes the way information is gathered and used so that a business can leverage its consolidated purchasing power to find the best possible values in the marketplace.

Developing an understanding of your sourcing power will allow you to make certain that you are saving the most money by finding the most affordable sourcing opportunities.

Sourcing should not always focus on the financial savings, but should also consider tasks and quality of the service.

Things to consider when sourcing:

  • What are your buying needs
  • What type of professional do you need
  • What maximum price do you want to pay
  • What volume do you want to purchase
  • How do you plan to project manage
  • Will you be able to meet deadlines
1 2 3 6
READY TO START OR GROW YOUR BUSINESS?
Daily Business Motivation
Daily Business Motivation
Daily Business Motivation
Daily Business Motivation
Daily Business Motivation
Copyright 2021 Dr. Elijah Clark Business Consulting - Sitemap - Policy