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Using Power Stories To Power Your Business Growth

Story telling has always been looked upon as a medium to engage the audience and connect with them. Story telling allows the audience to relate to you and therefore it promotes strong interpersonal relationships. Successful business owners have harnessed the power of storytelling to expand their business. Storytelling need not always be from a corporate giant, even small and medium business enterprises can use power of stories to communicate, motivate, inspire and lead. Many business owners wonder, what is storytelling and how can it affect business.

What are power stories in business sense: Talking from business perspective, power stories refer to narration of events or narration of inspirational factors that drive the business. For example, a startup company can pitch to its value to the stakeholders and business partners by telling them what inspires the business. It is essential that your audience is able to relate to you and power stories help you in achieving the same. When you are planning to use power stories to boost your business, you must keep following factors in mind.

Emotional appeal: your story should not be a mere discussion or formality. It needs to voice out your emotion. You may want to narrate the story about inception of the business and the inspiration behind it at an annual body meeting. Using such a power story for your stakeholders will strengthen their belief in you. Use your inception stories for establishing an emotional connect with business partners who may be start-ups. They will be able to understand the challenges you faced and will look upon you for guidance.

Inspirational thoughts: every successful business owner has an inspiration. Share your inspiration with your workers. Motivate them to achieve their personal growth and organizational growth by using inspirational thought or by sharing the story of your expansion over a period. Let them know that you and your team have worked endlessly to bring the organization to its present level. Tell them that they can be top contributors in expanding the business. Link personal benefits with business expansion, this works brilliantly for motivating the team members.

Be genuine: nothing rewards more than honesty in business. Be genuine in your story telling. Share positive customer experiences on your website in order to establish the credibility of your business. Do not manipulate with power stories, as it will cause you terrible loss of reputation. Remember that your story has to touch people’s heart; it should not sound unrealistic or fake. Communicate with open heart and see how your business expands.

Secure the Success of Your Small Business

Everyday people come up with more genuine new things to market to the world. This isn’t as surprising considering all the opportunities posted not only to the big-time members of the society but even to those who belong to the middle class. As the world’s population increases, leisurely materials become necessities, and as more people participate in globalization, small businesses find it easier and more convenient to promote and sell their trade everywhere on the globe.

To a small business owner, there are three possible scenarios in which his business may end up: 1) prosper and expand; 2) accomplish the goal and proceed to an exit strategy; and 3) FAIL. Among these scenarios, I think the only unwanted outcome would be the third, and although a large percentage of small business ventures actually end up in this, there are ways and things to consider that can help in keeping it from failing.

1) Consider your goal and stick to it. Having a goal is the most important part of every venture. When you have a goal, you can effectively imagine the things that you’ll need and how you want it to continue. If you fully understand what your business is all about, you can efficiently talk about it to your future partners and prospect customers. Having a goal also allows you to decide a long-term plan for your pursuit, whether you want to expand or eventually sell it.

2) Acknowledge that a great business venture also poses great financial risks. Although this is true, you wouldn’t have anything to worry about if you are all set towards your goal. If you currently have insufficient financial resources to pursue your venture, you may apply for small business loans (equity loans and personal loans may also be used for this purpose) from your bank.

Every bank has a different level of leniency when it comes to granting loans. Some lenders prefer to grant loans to people who already have existing records in their banks, while others don’t grant 100% of the loan so the person is compelled to invest his personal account in the business.

3) Develop an organizational scheme for your small business. Unlike big-time companies, you cannot have the luxury of employing a new person for every specific task just yet. You’ll be doing a large portion of the work by yourself, so making a schedule and efficiently accomplishing a particular job every day allows you to manage your time effectively. This also prevents your business from negatively affecting your personal life.

4) Surround yourself with people that you trust. When you’re starting up a small company, you’re going to need all the advice that you can get. This doesn’t only pertain to your lawyer (who is important) or your accountant (who is also important) but may include your family, as moral support, your employees and partners.

5) Lastly, maintain a healthy and balanced relationship with your business. Although it will be compulsory to work extra hard for your small venture to grow, you do not want to obsess over it forever and always. Remembering that you have a life outside your business, and actually living it allows you unwind and release your mind from all the pressure which, consequently, let’s you come up with fresher ideas for your success.

What Is the Best Internet Business Product?

Anyone thinking of starting an online business will immediately start to wonder what is the best internet business product. The answer to this isn’t as simple as just giving you the name of a specific product. Instead, there are certain things you can look for in any product that will tell you whether it’s likely to be profitable or not.

Obviously, you want to know that whatever product you choose to promote has a hungry market out there somewhere. You also want to know that there is enough profit in it for you to make your marketing and promotional efforts worthwhile.

The best part about operating any business online is that you have a choice whether to promote physical products that need to be shipped out to customers or digital products that can be downloaded instantly. You also have the choice of whether to promote big-ticket items that earn you a lot of money per sale or cheaper items that earn a little per sale but tend to sell a lot more.

Here is a brief look at the advantages of each type of Internet business product:

Digital Products

Digital products like eBooks or software programs are the ideal Internet business product. You design and create the product just once before uploading it to your web host. From there, your customers are able to pay for the item and then download it directly to their computer instantly.

These types of products are extremely profitable, as customers are only downloading digital files. You don’t need to worry about shipping or postage costs and there is no handling to be done at your end.

Physical Products

Physical products can still be extremely profitable for any online business. Customers place their order and pay for the item on your website. When you receive the order you package up the product and ship it out to them. You’ll make money as long as your prices cover the cost of the item as well as the packaging and shipping costs plus leave some profit for you.

Big-Ticket Items

Selling an expensive item means far more profit per sale for your business. You might only need to sell one item per week to make enough profit to keep you going. More expensive items can sometimes be challenging to sell, but this shouldn’t deter you if you’re really passionate about what you’re promoting.

Cheap Items

Selling really cheap items can be an excellent way to increase any business revenue. People often purchase low cost things on impulse, so it can be really easy to sell lots of things quickly. As the price is so low your profits might only be small. This means you need to make a lot of sales regularly to turn that bit of profit into a decent income.

Combining Your Options

Some Internet business products can be used in combination with others. For example, you might offer a really cheap eBook for a couple of bucks that contains information your customers love. You can then use that cheap product to upsell other more expensive products you have available. If customers loved your first product they’re likely to trust you enough to pay for your more expensive items as well.

This increases your business revenue and makes it far easier to choose the best possible Internet business product to suit your needs.