May 2019 - Rafferty Pendery

7 Important Entrepreneur Tips That Small Business Owners Need to Know

May 22, 2019

Avoiding entrepreneur mistakes is the only way startup companies can reach their fifth year of operations. Recent studies indicated that 80% of the small businesses that were started in 2014 made it to the second year of operations, 2015. However, several research studies have proven that less than 70% of the small startups don’t get to see their third year of operations, let alone the fifth. With that in mind, let’s take a look at some of the entrepreneur tips that small business owners can use to succeed in business.

1. Adequate Capitalization

One of the most important entrepreneur tips that startup entrepreneurs can use to succeed in their investments is having adequate capitalization, otherwise known as money. There is no way business can succeed without sufficient capital. Entrepreneurs make the mistake of having little capitalization at the onset of the business. Little do they know that the company will not be able to withstand market forces and turbulence in the first few years.

2. Excellent Planning

One of the most common entrepreneur tips that all potential investors know is that they need to plan for their businesses. Most failed businesses have attributed failure to poor planning and lack of contingency plans. Reading a reputable entrepreneurship blog could provide an entrepreneur with some important details on how to formulate simple plans and contingency strategies that the business will follow, especially when the original strategy fails to deliver results.

3. Understanding the Market

For a business to succeed, understanding the market is an essential factor. Many entrepreneurs know everything concerning their product and they are convinced that it is a great product. However, they fail to understand whether the product they are offering fits the market. Entrepreneur mistakes don’t just happen, but they result from a series of minor mistakes, such as not analyzing the market and not understanding buyer behavior. Professional understanding of the market generates the expected results and helps the business to succeed.

4. Hiring Professionals

History has proven that it is very difficult for a business to succeed without the support of professionals. Small business owners tend to cut costs by doing everything themselves. That is one of the methods of bringing the business down. Startup companies are very delicate, which means that they require the services of experts to stabilize. Hiring an attorney, an accountant, and an experienced marketing expert is a great recipe for growth. As a business owner, you cannot handle everything by yourself, unless you’re planning to fail.

5. Working with Partners

Hiring professionals has been highlighted as one of the tips that entrepreneurs can use to succeed. However, finding a business partner is also a strategic method of moving the business to the next level. Although a partner will reduce the share of profits, they will be offering professional services that you’re not likely to get when working alone. Moreover, a partner can inject funds into the business while helping in critical decision-making processes.

6. Incorporating Technology

Technology is one of the strategies that small business can use to succeed in a competitive market. A business that uses advanced techniques to handle most of its services cannot be compared to the brick and motor companies that still use manual operations. Besides cutting down operational costs, technology increases productivity and efficiency while improving service delivery to customers. Businesses that want to succeed in the digital era must use technology as one of their operational pillars.

7. Get a Motivational Speaker

You can occasionally hire a motivational speaker to speak to your employees and keep motivated. A paid international speaker could prove to be relevant to your employees because they will instill a sense of belonging to your employees and keep focused on the goals of the company. Corporate speakers have for a longer period been known to provide entrepreneur tips that could also be important to the owner of the business.

Not one of these entrepreneur tips will deliver results alone. All these factors and business tips must be incorporated in tandem by the entrepreneur and employees working in the company. This is the only way the company will be able to break the curse of collapsing with the first three years of its inception.

Start an Entrepreneur Blog Now to Gain More Traffic For Your Business

May 20, 2019

Apple, notably one of the biggest names in the tech game changed how we communicate and share information. It shrunk the entire world down to pocket-sized proportions, making everything more accessible. To make matters more impressive, Jobs did all this working out of a garage in Palo Alto, California.

Now, thanks to our modern technology and the ideas and principles he left behind, it’s easier than ever to follow in his footsteps. Around 69% of entrepreneurs have founded companies right out of their own home. It’s an impressive feat, and if you ask any young business owner, it sure beats working a typical nine to five.

Utilizing the web efficiently by mastering your social media skills is the key to success. But no social media channel can hope to survive without starting a blog. This simple tool can help a business grow in ways you never dreamed of.

How an entrepreneurship blog can help your business grow

A blog adds more personality to your business’ site. Not only can it help establish the tone of your business, but it also helps your website rank better on Google when it utilizes SEO marketing. You’ll also be creating easily sharable content that can be sent to every corner of the web. A blog even can help you market your products or services, providing a useful way for you to share engaging content and reviews with your audience.

What to Write About

A business owner can write about their particular set of skills as well as their achievements. This is vital for an up-and-coming entrepreneur. Here are some possible topics for your entrepreneurship blog:

Common entrepreneur mistakes
Entrepreneur tips
How to start a business
How to finance your startup

Use your experience to sell your skills to your readers. By sharing your knowledge on a particular topic, you’ll find your business growing in no time. Use your entrepreneurship blog to make connections with individuals who value your advice. Try gaining ideas for your entrepreneurship blog by following industry leaders in your field.

Setting up your blog

If you’re convinced that starting an entrepreneurship blog is the right decision for you, here are some easy steps to help get you started.

Select a domain name. Preferably something short and simple.
Search for web hosting. You’ll need a hosting provider if you want your blog to look professional. Through a web hosting service, you will have complete creative control over the look of your blog.
Come up with a publishing schedule. You want to remain consistent. Even if you only have time to post once a week, try to commit to a set time.
Find an appropriate theme to suit your style.
Brainstorm your first post.
Write, proofread, and finally publish your first post.
Don’t forget to share it on social media!

Thanks to modern technology, you can start a business from the comfort of your own home. You’ll also market your business and entrepreneurship skills without ever leaving the house. For more information on starting an entrepreneurship blog, rely on the talent of Rafferty Pendery to begin.

3 Skills to Master in Silicon Valley

May 13, 2019

If you’re trying to become an up and coming tech entrepreneur, getting into Silicon Valley isn’t as easy as it looks. Nowadays, it seems that every tech guru and digital marketing expert is trying to get a piece of that valuable pie. So, how do you stand out among the crowd?

If you’re wondering how to succeed as a tech entrepreneur, here are some of the top skills you should master to take Silicon Valley by storm.

Copywriting skills

In the world of tech, nothing is more valuable than someone who knows how to write. Amidst the jumble of code and numbers, few techies have learned how to express themselves articulately, let alone transfer their knowledge onto paper.

This is why copywriting has become so essential in tech startups. No successful business can succeed without a copywriter with experience in effective messaging, creative writing, and marketing copy. When you want to stand out among the other tech geniuses in the room, a little creativity goes a long way.

Financing skills

Unless you majored in business, it’s likely that you only have a basic understanding of finances and accounting. If you’re a marketer or computer engineer, get ready to roll up your sleeves. Diving into an introductory finance course can work wonders.

While you don’t need to become an expert in financial modeling, being able to interpret graphs and understand how they work in real-life applications is essential.

Public speaking

If you’re afraid to speak in front of a crowd, you will always remain a member of the audience. Public speaking is a valuable tip that any industry can benefit from, whether you’re a tech entrepreneur, a teacher, or a lawyer. Public speaking incorporates a variety of skills, including persuasion tactics, preparation tricks, and vocal projection. If you suffer from speaking anxiety, a crash course in public speaking is the best way to conquer your fears.

Did you know that women-owned businesses are growing at double the rate of businesses owned by men? If you want a slice of this valuable pie, learn these skills to stand out. When you want to become the next big tech entrepreneur in Silicon Valley, rely on the skill and experience of international speaking guru, Rafferty Pendery.

What Challenges Do Lawyers Often Face?

May 10, 2019

Whether you’re a small firm lawyer or an attorney for the supreme court, there are a few common issues that any legal professional can experience.

If you’re thinking about joining the legal field, here are some of the most common challenges that you could face as a lawyer.

Grappling with new technology

Now that everything is available online, lawyers have experienced challenges trying to outline the law for their client. While it’s recommended that a person seeking legal counsel get as much information regarding their case as they can, some are being influenced by unreliable online sources. This can create numerous hoops that a lawyer has to jump through as they correct untrue pieces of information.

New technology has also impacted trial proceedings. Dashboard cameras on cars and other monitoring devices have transformed how we view criminal cases. When piecing together who’s at fault, these new pieces of technology can make or break a case.

Changing regulations

Between marijuana legalization and increasing environmental regulations, lawyers have to become experts regarding law changes and what is considered a criminal act.

This can take more time than you expect. While many of these laws are expanding rights and preventing environmental harm, a lawyer must set aside ample study time off the clock.

Public speaking issues

Not all lawyers are naturally outgoing. In fact, between 58% and 64% of lawyers have speaking anxiety. The courtroom heralds confident public speakers, making this source of anxiety detrimental to a criminal case.

This is also a common issue among tech entrepreneurs and those wondering how to start a business. While many think that public speaking is an innate talent, it’s actually a learnable skill that takes practice and dedication to master. If you’re one of the many lawyers or new entrepreneurs who struggle to speak publicly, rely on the experience of Rafferty Pendery.

Rafferty Pendery is an international public speaker who wants to help you succeed. Whether you need help avoiding entrepreneur mistakes or you need tips to quell speech anxiety in the courtroom, Rafferty Pendery can teach you to wow any crowd. Contact Rafferty Pendery today when you want to become a public speaker with confidence.