Funding a Startup

Posted by on October 2, 2009 with 0 Comments

Funding a Startup

Business startup funding is always a worry.  Do I have enough money to start? Can I quit my job to concentrate full time?  Will I be able to cover my monthly expenses?

When the time comes to actually launch your business you must have done your homework regarding your business startup funding needs.  You need to be prepared so that if the opportunity to accelerate your launch presents itself, you’re ready.

Assess Your Personal Finances

Take out your checkbook and credit card statements and review all of your personal expenses. Find all the frills and eliminate them.  It’s tough to do, but if you’re really committed to getting this business of the ground you need to reduce your personal expenses. (more…)

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Tips for Setting Up a Business

Posted by on September 24, 2009 with 0 Comments

Tips for Setting Up a Business

Are you thinking about setting up your own business? Have you an idea for a new business but are unsure about how to proceed? If you have answered yes to either of these questions, this article could be of benefit to you. I am going to write about how to plan and create a successful small business.

Many people are looking at ways in which they can become self-employed as they have had enough of being dictated to and fed up of long and frustrating commutes to work. They want the freedom of being their own boss and to be able to choose their own hours of work.

Leaving a full time career can be quite a scary prospect however. The security of having a regular income and other benefits such as a pension and a share save scheme can seem hard to let go. I am sure many people whether rightly or wrongly have opted to stick with this security and to merely keep their business plan as an idea, which they never see through or use. (more…)

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Build Your Business With 4 Easy Steps

Posted by on August 11, 2009 with 0 Comments

Build Your Business With 4 Easy Steps… Well, Kinda Easy

Creating a successful and profitable business is no easy task. It’s reliant on many outside factors, including competition, timing and demand, which you have very little to no control over at the beginning. Assuming all of these outside factors are in your favor, having a sound business plan can lead to having a successful business. Here are five steps to consider when you’re building your business from the ground up:

1. Determine your business. What are you selling?

This question isn’t as easy to answer as you may think. For example, Nike is in the sportswear business, but the truth is that when you buy a pair of Nike shoes and a t-shirt at the mall you’re buying a lot more than sportswear — you’re buying an image, a feeling. You’re buying the Nike brand. Richard Thalheimer, the former CEO of The Sharper Image and the founder of RichardSolo.com, has worked in specialty retail for more than 30 years. When asked what business he’s in, he’ll tell you “convenience” or “innovation” before he specifies any particular industry, and he’s built one of the most powerful brands in America. Keep in mind, there’s more to a product than, well, the product. Your brand is what sets your product apart from your competitor’s. (more…)

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How to Make Money Doing Something You Love

Posted by on July 15, 2009 with 0 Comments

How to Make Money Doing Something You Love

There are a lot of people who want to have a job that if fun and filled with excitement. They want something that they can enjoy all day long instead of watching the clock. You will find that if you take a hobby and make it something that you can do for a living. You may find that if you take your hobby and take it more you can quit your job or do less at the office. You will want to consider a few things before you start your own business. With some dedication, you will be able to make profits by doing things that you love to do. (more…)

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How to Keep Your Employees Happy

Posted by on June 12, 2009 with 0 Comments

How to Keep Your Employees Happy

When you begin your first business or even a new business you will see that there is a difference for working for yourself and then having others work for you. Make sure that you set down and make up some rules and regulations so that you can keep the staff in line, on track, and managed. You will that supply and demand will have some effect on your employees; however, it is very crucial for you to hire employees. With employees you will want to keep in mind that you will want to delegate parts of the daily activities to your employees so that your business can grow. Some of the most successful companies are those who have employees and owners in the business that work closely as a team to solve problems and also create some policies. You will want to make sure that you have an employee friendly work environment so that your employees can be happy and you can increase productivity.

You will find that it is important to state all the laws with a firm tone so that you can educate and control your new employees (this is especially important for young teens or young adults). You need to be firm with the rules of the company—for example, no personal calls on company phone lines. Be sure to look at things from all angles. What could your employees potentially do that would hurt business? Some of the things that you will have to do are set a dress code, parking spaces, and any other company policies that you find important to have so that you can avoid mistakes. Also, it is important to have the same rules for all employees—no playing favorites. By treating all of your employees equally from the start, you give them all an equal chance to succeed professionally. You will want to give out your employees a list of rules and regulations that will need to be used and understood and you should give it out upon hiring. It is also beneficial to hang a copy of this list in a convenient spot for all employees to see and to redistribute this every six months or every year.

As you learn things about your employees you will want to consider giving some employees more responsibility than others. That is why it is important to have a management plan. Promotions should always go to the most qualified candidate, regardless of your personal relationships with the employees. Set into motion management guidelines so that new employees can understand advancement potential and the responsibilities of all persons on the staff.

You should make some changes to your employee relations as you see is right. For example, problems may arise that you have not initially addressed. Distribute the new policy to all employees, not just the ones who it is immediately affecting. If you notice that there is an employee that seems distracted, if you only review the new policies about employees you will be able to build a good relationship with the worker because they will know all of the rules. You should think about the employees of a piece of the way the company is viewed, as well as, how you are seen. You will want to make sure that you are fair and respect them. You will want to make sure that you create a friendly atmosphere. With that, your employees will make better employees and become loyal and hardworking.

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Finding the Point to Advertising

Posted by on May 14, 2009 with 0 Comments

Finding the point to advertising

One of the most important things that you are going to have to learn about your business is that you are going to have to master the art of advertising. There are many forms of advertising, but there are some companies that try to go it alone. There aren’t many that are able to limit themselves in advertising and still make something of the company. Advertising can be costly, but you will want to research all of the different options that might be right for you and the business.

The first step to choosing an advertising method (or variety of methods) is to determine your target audience. Keep in mind that there are different age groups, genders, ethnicities, and political affiliation that respond differently to certain ways of advertising.  Where does your target audience live? Where do they go to school or work? How much are they willing to spend for your service or product? These are just a few questions that you will want to ask yourself to help determine the type of advertising that is right for you.

You have the option of multimedia when it comes to advertising. This includes television commercials and radio advertising. Both can be very expensive, but you have a lot of freedom to create specific images and reach many people at once. Within the last decade, arguably the most important type of advertising is the business website. You may want to create a website, however, it can be very time consuming, but you will be able to make a wide impression on hundreds of potential customers.

You may be able to use print advertising to be beneficial if you don’t target those with computers or access to the web. For example, if you are advertising a transportation service for the elderly, you will reach more people with a newspaper advertisement than with the Internet. Newspapers are great places for ads, since most homes receive one or more papers. You may also want to think about using the Yellow Pages an advertising option. People often go to these two places if they are specifically looking for a certain service.

You will want to make sure that you keep advertising your business even after you have made a list of customers. Business cards, for example, can be placed in every bag with the receipt so that your customer can always remember where he or she purchased a service item. You can also print fliers or color brochures. You may also want to think about things like having your customers sign up for mailing lists.

No matter what type of method you would prefer to advertise your business, you will want to make sure that you appear to be professional and leave some memorable advertisements that will give your company and even yourself a good impression. You should think about advertising and the cost of advertising in dollars and in the amount of success that your business could have because of the methods of advertising.

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Deciding to start a business

Posted by on April 15, 2009 with 0 Comments

For those who long to be their own boss and make some profits you will find that there are tons of ideas that you can come up with to focus on the business on and market. You will be able to find the best course of action to starting your own business. You will find that there are many perks like being your own boss, making your own schedule, planning your own strategies, and you’ll be able to keep all the profits. There are plenty of people who you will meet and new exciting adventures and people. You will find that there are many important things to consider when you are writing your business plan. You will want to see if your business ideas are something that you can pursue. You will find that there are customers, other businesses, and even the demands of your own life that will determine if a business is right for you.

(more…)

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Financial Drops in the Bucket

Posted by on March 19, 2009 with 0 Comments

Financial Bad Habits

It is easy to get into bad habits with financial matters.  Few people have enough money to simply buy what they want without a thought.  Most people have to plan their purchases and stay vigilant to keep themselves solvent.

Many people have bad habits of getting too far in debt with credit cards.  The cards are easy to get.  You can get a handful of Visas and Master Cards, an American Express Card, a Discovery Card, and several cards from retail stores without much effort.  You do not have to have much income to get this many cards, either.

None of the card companies seem to consider that you might have to pay payments to the other cards.  You may think you have all these cards just for emergencies.  However, if you get into bad habits with them, you can end up spending them to their limits.  You may reach a point where you cannot even make the minimum monthly payments. (more…)

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Starting a Business

Posted by on February 23, 2009 with 0 Comments

Starting a Business

There are a lot of people who hope to be their own boss and own their own business; however, starting a business can be very straining and difficult. You will want to make sure that you have the time, the effort, the money, and the motivation to take off with the business. However, have you ever thought about purchasing a business?  You may find that there is a business up for sale that is priced just right. You will be able to buy some success by purchasing an existing business.

Remember first off that the owner is selling the business for a reason. If you work at the establishment, such as in the situation mentioned before, you probably know why the business is being sold. Keep in mind that if you have a close relationship with the owners they may leave some important details out of the deal because they don’t want to scare you off. Ask. It could be as simple as the owners wishing to retire. In this case, buying the business could be an excellent investment.

You may want to consider what the profit of the business is. If you consider purchasing a business that failed for someone else, it is important to analyze why. There may just not be any demand or the location by just not bring in the customers. Maybe the owners made bad business decisions. In some cases, the business has a bad reputation. These are all things to consider when buying a business instead of starting your own.

You will want to think about how you can change the business to avoid the failures. In some cases, this simply cannot be done. For example, if your community is largely made of families or retirees, there is not much of a demand for a nightclub in the neighborhood, and this may be why the previous business failed. You may be able to take the business and make some positive changes and prevent the business from failing. If the previous owner of your clothing store invested the company’s money largely in high priced merchandise, perhaps you want to consider readjusting the business to sell affordable clothing instead.

You will always want to consider changing the name, unless you feel that the business would lose it’s traditional success in the community. When you change the name you will able to personalize the business and make it seem like a different business that should be given the chance. You will also want to think about the advantages of the business and how you can help the weaknesses and advantages become stronger. So when it comes to choosing between starting your own business and taking over a pre-existing business, you will want to ask yourself what is best for you and which way you would actually have a change to make something of the business.

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The 5 W’s of a Good Business Plan

Posted by on December 20, 2008 with 0 Comments

The 5 W’s of a Good Business Plan

Business plan outlines are all different.  The one common thread is that all business plan outlines help the writer answer the five W questions:  who, what, when, where, why.

If any of you ever worked in journalism or as reporters, what you want to do when you investigate anything is answer the 5 W’s.  A business plan outline is a concrete method for investigating a business idea so answering the 5 W’s makes sense. (more…)

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