Tag Archives: mining equipment finance

Should you really be an entrepreneur

Many people jump on the entrepreneurship bandwagon because they think they’ll be instant millionaires and get cushy working hours. But if you become an entrepreneur for the wrong reasons, you’re bound to fail. Starting your own business is hard work and requires guts and making sacrifices. If you’re not willing to understand the markets, have the courage to execute ideas and take risks, you could lose a lot of money as well as your business.

Here are a few ways to help you decide if entrepreneurship is for you.

Talk is cheap

Actions speak louder than words. If you’re a person who’s always focused on “someday” and can’t take initiative, entrepreneurship might not be for you. Entrepreneurs are go-getters who are always doing. They are determined to see their dreams come true.

When the going gets tough

Muhammed Ali, the champion boxer, was quoted as saying, “I hated every minute of training, but I said don’t quit. Suffer now and live the rest of your life as a champion.” And that’s how entrepreneurs should approach every difficulty they come across. If you quit easily, then you’ll fail as an entrepreneur. Because in business it’s not a matter of if the obstacles will come but when they come. Will you be able to take the heat?

Fearless

Starting a business requires a person who can take initiative and is courageous. You’re going to face a lot of situations which require you to take a leap of faith. And if you’re not brave enough, you’ll miss out on many business opportunities.

Overnight success

Many people think they’ll start raking in the millions in the first year. But the climb to success isn’t easy and will require a lot of work. As an entrepreneur, you may not see the fruits of your labour until a later stage. Entrepreneurs have to know, in order to get a breakthrough in their business, they need to be persistent and motivated.

Lonely at the top

When you’re the CEO of a business, you’re the one in charge You’re the one who has the final say and the one who is the most invested in your business. So you may find it lonely because no one in the company truly understands the pressures you face. There are few people to share in your failures and to motivate you to get up when you’re down. Being your own boss and working for someone else is very different, as an entrepreneur your business is constantly on your mind.

Focus

You might think your idea is unique, mind-blowing and everyone will be queueing to get their hands on it. But not everyone will buy into it. However, you shouldn’t let this deter you. Colonel Sanders who started Kentucky Fried Chicken was rejected 1009 times before he found someone who believed in his recipe.  In the beginning, some people may not be on board to help you fulfill your vision. And that’s why you should be determined and focused.

Preparation

Luck is when opportunity meets preparation. You have to be ready at all times and have your ducks in a row, otherwise, you could lose out on great business deals. If you aren’t prepared to spend hours studying your industry and looking for other ways to serve your customers, then being an entrepreneur might not be for you.

Capital

Whether you need funds to finance your mining equipment or invest in new property for your business, you need to find clever ways to raise money. You might have to get a business partner or explore crowd-funding. Whatever route you choose to take, it’ll take a lot of hustling to get your capital. And the question is: are you up for it?

Time

Many people have a preconception that they’ll spend their days clocking off at noon to play golf because they have flexible working hours. But the truth is, being an entrepreneur means you’ll have to work harder than anyone in your office. In fact, you’ll find yourself wearing many hats in order to keep your business thriving. You’ll have to eat and sleep your business and often spend the weekend catching up on work. You may also have to sacrifice time with your friends and family during the initial stages of building your empire.

Listen

If you can’t listen to what others have to say, your business could fail. As a business owner, you’ll come across many unsatisfied customers. And if you want your business to prosper, you’ll have to listen to what they have to say in order to satisfy their needs successfully.

Being an entrepreneur is about more than becoming your own “boss”, it’s about loving what you do and providing a product or service which will benefit your customers.

 

Social media marketing benefits for your business

There was a time when social media was considered by some as a passing fad. Something that the kids were using that businesses couldn’t really benefit from. Over time, the skeptics were proved wrong. Popular social platforms have become marketing giants, offering businesses valuable data about their customers and a free way to reach them. Social media for businesses is no longer optional.

Businesses big and small are realising the huge benefits of social media marketing and its increasing importance in the race to stay relevant and attract new customers. Long gone are the days when your secretary was the first point of contact between the outside and your company – that role is being replaced by websites and social media profiles.

Here are a few benefits of social media marketing for your business.

Increased brand awareness

Social media is one of the most cost-efficient digital marketing methods used to syndicate content and increase your business’ visibility. Implementing a social media strategy will greatly increase your brand recognition since you’ll be engaging with a broad audience of customers. To get started, create social media profiles for your business and begin interacting with others. Get employees, business partners and sponsors to like and share your page. Simply having people interact with your content will increase brand awareness and begin building your reputation as a business. Each post that’s shared will be introduced to a new network of individuals. Which then can lead them to becoming potential customers, and the more people who know about your business, the better.

More inbound traffic

Without marketing your business on social media, your inbound traffic is limited to your usual customers. The people familiar with your brand are likely searching for the same keywords you already rank for. Without utilising social media as part of your marketing strategy, you’ll have much more difficulty reaching anyone outside of your loyal customer circle. Every social media profile you add to your marketing mix is a gateway to your website. Also, every bit of content you post is another opportunity to acquire a new customer. Social media is a melting pot of different types of people with varying backgrounds and behaviours. With different people come different needs and different ways of thinking.

Higher conversion rates

With increased visibility, your business gains more opportunities for conversion. Every blog post, image, video or comment may lead viewers to your company’s website and increase traffic. Social media marketing allows your business to give a positive impression through a humanisation factor. When brands are interactive by sharing content, commenting and posting statuses on social media, it personifies a brand. People prefer to do business with other people, rather than companies. People use social media platforms to stay connected to their friends, family and communities. Since people are already talking, why not throw your brand into the mix? More likely than not, they’ll mention your brand to a friend when your products or services are needed, overall providing your business with social proof of its quality.

Better customer satisfaction

Social media is a networking and communication platform. Creating a voice for your company through these platforms is important in humanising your company. Customers appreciate knowing that when they post comments on your pages, they’ll receive a personalised response rather than an automated message. Being able to acknowledge each comment shows that you’re attentive of your visitors’ needs and aims to provide the best experience. Every customer interaction on your business’s social media accounts is an opportunity to publicly demonstrate your compassion for your customers. Whether an individual has a question about mining equipment finance, social media allows you to address the matter using interpersonal dialogue. A brand devoted to customer satisfaction that takes the time to compose personal messages will inherently be viewed in a positive light, even if responding to a customer complaint.

Improved brand loyalty

One of the main goals of almost all businesses is developing a loyal customer base. Considering that customer satisfaction and brand loyalty typically go hand in hand. It important to regularly engage with consumers and begin developing a bond with them. Social media isn’t just limited to introducing your brand’s products and promotional campaigns. Customers see these platforms as a service channel where they can communicate directly with the business.

Thought leadership

Posting insightful and well-written content on your social media is a great way to become an expert and leader in your field. There’s one way to become a thought leader – it requires work that can be supported by online networking tools. To establish yourself as an expert, be sure to utilise social media platforms and build your presence. Be communicative, connect with your audience, share content and promote your authority. When your social media campaign is aligned with other marketing efforts, your skills will be highlighted and followers will look up to you.