Are Your Business Ideas Profitable?

I recently received a request to write about testing business ideas. While we can prepare for and plan our businesses around concepts and data, there is no real way to test if we're going to be successful or not.
There are some ways to double check if you are or are not on the right path when it comes to business. Here are my top three tips to see if you are on the right path to projected success;

#1. Focus on goals, don't just have them.

I know many people who write goals down. They have a goal for every part of their life. What they're missing is a plan. You need to have a goal followed by a plan and work at it daily.

#2. Be reasonable with your time frames. Don't plan to be a millionaire at the end of two years. If only life were this easy. Make sure you have a realistic timeline to compliment your goals and your plans.

#3. Make profit your number one goal. Don't think about expansion, second offices, etc. until you actually have a solid profit coming in. You can't just think big, you have to grow a profit to get big.

I will back with a new blog series this upcoming Monday, January 5th. Until then......

Happy New Year!

Twyla Garrett

Take Your Business Drama to Your Mama...

Oh, the drama of being a business owner. Oh, the drama of being an employee. Conflicts at work are nothing new. So, I've decided to share my top three tips on avoiding drama in the workplace.

#1. Accept that you’re not the smartest person in the room. This is especially true for business owners and managers. Employees can have really great, money-saving suggestions. So, put those egos aside and listen. You might find business gold.

#2. Have a difficult conversation before it causes tension in the office. Don't dance around an issue. Address it and do so professionally. I once heard someone say, "critical feedback deserves your respect. It’s not something to fit in between phone calls ." They were right. Set-aside a time and place to have the difficult conversation and then move on.

#3. Think before you speak. This seems simple enough but we are human. If you just blurt out what a jackass someone is, you can be opening yourself up for a lawsuit- even if you are right! So, think out a response before saying one. If you need time to cool down, then say, "I have to think about this before commenting". There is no law out there stating you have to respond to something or someone immediately. Give yourself some time to cool down and to be diplomatic. It will make you a great leader and free of legal troubles.

Tell me about your prior work-drama experiences on Twitter!

Twyla