DSS International LLC

I recently went to a seminar on how to do business with the government. I went mainly because I wanted to gather information that I might be able to pass on to my clients. Based on being an accounting firm I was under the impression that there was no government work that I could bid on. I was there no more than ten minutes when someone mentioned that the government does provide training services and this government location had recently set up a QuickBooks training class and hired an outside contractor to teach the course. One of my many AHA moments.

How many opportunities have been missed because we fail to “think outside the box”. There are many components to each of our businesses that we do not consider when we look at the business as a whole. Yes I run an accounting firm, but if I were to look at every service I provide I will find that there is more to DSS International than just accounting and maybe there are business opportunities that I might not have thought of because they are not “accounting” in nature.

A good exercise, and one that I plan to do, is to list each service or product that you provide. Then consider each one and see if there is an opportunity to market that service/product  independently from your business as a whole. What you will most likely discover is that you are in many different types of businesses. For example, DSS International is primarily an accounting firm but we also provide training and mentoring services for the business owner. So in addition to bookkeeping and accounting we are also teachers. Given this maybe there are over looked opportunities in the teaching area.

So to grow your business it is time to look for additional marketing and business opportunities by simply “thinking outside the box’

I have been thinking about what this blog should be about. First thought was to provide little tidbits about business but after careful consideration I decided that maybe I should also talk about my journey as a small business owner and try to let every one know what I have encountered in the past twelve years, what has worked and what has not and in some cases talk about topics as if I was talking to my clients.

Today what was running around my mind was balance. When you work from home as I do it is easy to blur the lines between your work life and your personal life. With a home office you can never really “go home from work”.  Your clients know that you are there so they call at all hours and on week-ends. It is very difficult, especially when you are just getting started not to walk around with the business phone in  your back pocket so that you will not miss the one call that will be your best client. If this goes on for to long you will burn out. You need time away from the office to regroup and relax. For me the hardest part of the time way has been the feeling of guilt that I should be in the office getting things done instead of taking time for me. In recent months I have come to realize that as hard as this may be I need to set boundaries and work at achieving a balance between work and personal. I do not have to answer the phone every time it rings, that’s why I have voice-mail. I can take the week-end off and get back to the issues on Monday morning. I can ‘leave” the office at 5 and have dinner with the family. As I make attempts to do this I am  finding that nothing falls apart and just maybe I will be more productive when I am “at work”. Next step is to actually take a vacation and not spend it worrying about all the things that are not getting done back at the office.

Thinking about starting a business or wanting to be more successful. Below are 10 things you need to know to increase your chances of being successful

CREATE A WRITTEN BUSINESS PLAN

All businesses started as an idea or concept. The successful ones also have a written plan. The business plan is a road map for your business. It charts the course that you plan to take and it outlines how you plan to get there.

USE THE INTERNET

 The internet is a fabulous marketing tool. It allows you to have a global as well as a local identity and it is available 24/7. This is one of the most cost effective ways to market your business and reach potential customers.

IDENTIFY YOUR IDEAL CUSTOMER

 Take the time to picture who your perfect customer would be. This allows you to structure your marketing efforts, products and services to meet the needs of the customer you are trying to reach.

CHOOSE THE RIGHT BUSINESS STRUCTURE

 There are various ways to structure your business from a sole proprietor to a corporation. Each one has long term implications both from a business and a tax perspective. There are many factors that go into making this decision and each one should be considered carefully.

DETAILED FINANCIAL REPORTING

 This is the area in which most business fall short. Most business owners are expects in their field but they have no knowledge of how to create a financial statement.  In order for your business to succeed you need to learn how to read and use a Profit/Loss Statement, a Balance Sheet and several other key financial reports.

KNOW YOUR COMPETITION

 Business can be ruthless. Customers are always shopping around for the best deal. Knowing who your competition is and what they are offering will help you to be competitive.

EXCEPTIONAL CUSTOMER SERVICE

 Getting customers is actually the easy part. Keeping them can be harder. Customer service is one of the key aspects of your business. If you don’t treat your customers right, they will find someone who will.

NETWORK WITH OTHER BUSINESS OWNERS

 Word of mouth is one of the best ways to attract new customers. Business owners like to support each other. One on the best ways to obtain new customers is through referrals. Going to networking events allows you to develop business relationship with other business owners who may know just the customer who could benefit from what you have to offer.

BE  VERSATILE

 Every business finds a concept that works for them; it may be a sales pitch or an advertisement. As a result they use it again and again and again. After awhile the concept starts to loose stream. To be successful you must always be on the look out for the better mouse trap. Remember, what works today may not always work tomorrow.

PROPER BUSINESS MANAGEMENT

The success or failure of your business can come down to proper business management. No matter how good you are at making the product or providing the service that you went into business for, the money the business earns will literally slip away if you ignore the basic management aspects of your business. According to the U.S. Chamber of Commerce, poor management is considered one of the leading reasons for business failure.  Business management includes bookkeeping, managing customer credit and collections, controlling expenses, price setting, and the hiring and supervision of employees.

We are proud to announce that DSS International now has a blog. Join us daily for valuable information on a variety of topics specifically designed to help you start and grow your business.

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