4 Step Action Plan to Start a Business after Setback

Many people dread going back to work after they have suffered an injury. They may have received compensation, but they may not be able to go back to their old job due to injury. Starting your own business with the compensation received may seem like an attractive idea for many. While this is certainly possible, you do need to be careful and do your research before jumping n with both feet. There are number of steps you need to take care of before you can open the door for business. The 4-step action plan described below will help you alleviate some of the jitters associated with starting a business.

1. Think About the Type of Business You Want to Run

Many people wish to start their own business because it allows them to be their own boss, make their own hours, and work where they choose. If you have suffered from a serious injury that has changed your life and your mobility, you may decide to invest in a new business and partner with the right people who can do most of the work after receiving your instructions. Another option would be to start a business from home and then run it online from your home office, where you can have everything you need without having to worry about a daily commute.

2. Write a Business Plan

Writing up a business plan is the first step that you need to take when you are serious about setting up a business. This will include sections that cover your executive summary, company description, market analysis, organization and management, service or product line, marketing and sales, funding request, and financial projections, along with an appendix.

5 Myths about Internet Marketing Business Leaders Need to Know

In this age if you are not marketing your business on the internet you will likely not survive for too long. When majority of the people turn to internet when searching for a place to eat, an accountant, or even a house purchase your business will never get the attention of prospective buyers if you are not marketing on the internet. When is the last time did you open the Yellow Pages to find something?

While internet marketing is essential for any business many people have false idea about what internet marketing is about and how do it. They hold myths that may have been acquired over the years. Knowing these myths and finding ways to escape them will not only help you avoid unnecessary expenses, but also grow your business the right way. Here are the 5 most popular myths you need to be careful about.

Word of mouth is sufficient to get the referrals

Word of mouth is a powerful marketing tool to get new clients. After all, when people recommend a business to their family and friends they will place greater faith in it. However, just relying on word of mouth will limit your potential to grow the business. There are number other internet marketing avenues you need to be aware of and explore to get more referrals and grow your business. Don’t get me wrong. You should still rely on word of mouth to get referrals, but it will help you if you can help your customers spread the word about your business via what I call active word of mouth. This is where you stay in touch with your customers regularly, ask them about their feedback and provide incentives to them to get the word out about your business. When you combine active word of mouth with other internet marketing avenues you can grow your business significantly.