Starting a Business

a woman at a computer learning how to start a tutoring business online

How to Start A Tutoring Business Online

Wondering how to start a profitable tutoring business online? The number of users of online educational platforms has increased unprecedentedly in the past year. Better yet, the trend continues. According to analysts, the segment of online courses will grow to $300 billion by 2025. Starting your online training course is a great way to monetize …

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a millennial celebrating passing the California real estate licensing exam

Tips To Help You Pass The California Real Estate License Exam

Working in real estate in California is an enormous undertaking. The most ambitious professionals in this sector often base themselves here.  In this article, you’ll discover 5 tips to pass the California real estate license exam. Most brokerages in California only work with realtors rather than real estate agents. There are key differences between the …

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a millennial looking at starting a cleaning business in college

How to Start a Cleaning Business in College

Many famous entrepreneurs got their start during their college years. And we’re talking about several Silicon Valley members, among others. Paul Orfalea, for one, hatched his idea that turned into Kinkos while attending USC in 1970. It’s possible to start a cleaning business in college, especially for those who have the means and the determination. One business …

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5 Characteristics of High Growth-Companies

When it comes to hot industries like technology, healthcare, or software, certain companies can surge past the competition and achieve impressive growth. And though the formula is always different, these organizations usually share some similar traits and beliefs.

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5 Things High-Growth Companies Do Well
There are companies, and then there are high-growth companies. While there’s nothing wrong with being in the former category, businesses that fall into the latter tend to experience much more success at a much faster rate.
Here are a few ways they’re able to accomplish this feat:This Event-Driven Fund Won In August With The Largest U.S. Cannabis REITDG Value Partners II Class C was up 9.05% for August, bringing its year-to-date return to 44.82%. The S&P 500 was up 3.04% for August, with a year-to-date return of 21.58%, while the HFRI index is up 10.31% for the first eight months of the year. Q2 2021 hedge fund letters, conferences and more DG Read More

Kaizen Mentality

The word “Kaizen” is a Japanese term that means “continuous improvement” or “change for the better.” Over the years, it’s morphed into an entire business philosophy that focuses on process improvement for organizational growth and success.
And whether they use the term Kaizen or not, most high-growth companies adopt these underlying principles into their processes.
In the most basic sense, Kaizen is a commitment to constant and never-ending improvement. It embodies a blend of strategic principles, such as:

Never justify established best practices, but always question them.

See waste and problems as opportunities.

Always maintain a positive attitude and outlook.

Seek out daily one percent improvement.

Seek the wisdom of 10 people, rather than the knowledge of one.

Choose the simplest solution and implement it right away (rather than waiting for the perfect solution).

When you have a Kaizen mentality, everything is on the table. Change is constant and never-ending.

Preventative Maintenance

High-growth companies don’t sit around and wait for something to happen before acting. This is true in every area of the organization – from sales and marketing to HR and maintenance.
If you specifically look at maintenance, you’ll notice that these organizations always have carefully documented preventative maintenance strategies that address minor issues before they evolve into major (and costly) problems.
Take fleet management, for example. Companies with large fleets rely on fleet maintenance software to ensure they’re achieving lower operating costs by investing in timely maintenance and repairs.

Clear Hiring Processes

High-growth companies know that the people make the business – not the logo or even the products. If you have the right talent in the building, you’ll never have trouble pumping out new ideas, products, or innovations.
Hiring good people doesn’t happen by accident. You need to be intentional and use discernment. Clear hiring processes will help you do this.
As successful entrepreneur Feliks Eyser puts it, “First-time founders hire one employee out of five applicants after just one or two job interviews. Second-time founders know that recruiting is their number one priority in growth mode.”

Quick to Fail

Slow-growth businesses spend a ton of time preparing for new products, processes, releases, and launches. There are brainstorming sessions, meetings, collaboration sessions, more sessions, more meetings, etc. Planning becomes an obsession and execution takes a backseat.
High-growth companies, on the other hand, emphasize progress/action over perfection. They’d rather develop a minimally viable product or process, act, and then study the results. They’re okay with failing, so long as they’re quick to do it.
When you fail quickly, you also learn quickly. And because it happened so fast, you didn’t sink nearly as many resources into it as you would have if you spent months or years planning. This allows you to recover quickly and get on to the next idea or iteration.

Client-Focused

You can’t build a successful company if all your energy is focused on your brand. You must zoom out and put yourself in your customer’s shoes. Client-focused organizations are much more likely to win in the long run.
How do you become a client-focused company? The rules are quite simple:

Know who your target audience is (using rich customer profiling)
Ask (and listen) to what your customers want
Focus on giving before ever asking
Build a brand around helping your clients achieve their biggest desires

While these principles are easy in theory, they require a ton of discipline and energy to execute on. Make sure you develop rules and processes that help you achieve these goals.
Putting it All Together
No two companies are the same. However, you’ll almost always find these five traits present in a high-growth company. By integrating them into your own organization, you can increase your own chances for efficient growth. Good luck!
Updated on Sep 10, 2021, 6:14 pm

how to create a real estate business plan

10 Ways to Make a Successful Real Estate Business Plan

Building a real estate business takes time and hard work, but building a successful one requires planning. Everything related to buying, selling, management, and investment in real estate comes under the umbrella of the real estate business. It can be a lucrative business because, if done right it can be highly profitable. Although the business …

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Piggyback Marketing Techniques to Grow Your Online Business

If you can’t beat ‘em … Well, that’s not exactly the premise of piggyback marketing. As a smart marketer, you don’t want to obsess over “beating” the competition. That’s a waste of time and energy. Piggyback Marketing Techniques You want instead to focus on forming productive alliances, conserving your valuable resources, and optimizing growth – …

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Starting a Real Estate Agency: What You Need To Know

There’s no question that the real estate industry has enjoyed plenty of gains and booms over the past few years. It can be one of the most volatile, competitive, and exciting markets out there. For those in the industry, realtors understand better than anyone how quickly things can change, and what a rewarding career path …

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