Van Digicam

admin — Wed, 15 Feb 2012 08:36:57 +0000

Home Based Internet Businesses – What Choices Do You Have?

admin — Fri, 30 Dec 2011 16:56:33 +0000

Home based internet businesses are extremely attractive businesses to have. They are low cost to set up and are therefore low risk for the entrepreneur. Low capital invested means less money to risk. And whereas most home entrepreneurs set up one business, entrepreneurs who work on the net generally have many home based internet businesses. That’s because home based internet businesses are simple to begin as well as cheap to set up. Home based internet businesses run themselves and so when you have a good one going it’s time to move on to the next one.

Home based internet businesses are often very low key under the radar type businesses. Now of course if you want to concentrate on one major business then you can do so on the net as well. But that takes quite some skill and commitment and so many people who are new to making money on the net tend to concentrate on setting up a number of small home based internet businesses rather than one big one.

There are quite a few advantages of lots of small homebased internet businesses. It isn’t hard to set up small home based internet businesses and so it can be done fast. Many people who want to work from home in more traditional businesses find that it takes forever to set the business up, as well as costing (and therefore risking) lots of money. However most home based internet businesses can be set up in less than a week or two once you know what you are doing.

And having many home based internet businesses means that you can spread the risk. That’s not the financial risk because, as we’ve previously said, the financial risk of setting up a string of home based internet businesses is extremely low. But there is always the risk on the internet that for some reason out of your control your small internet business will disappear off the radar screen and the number of visitors it get drops right off. As more visitors equals more income, and less visitors equals less income, you don’t want your visitors to disappear. But if you have many small home based internet businesses rather than one big one then if one falls over you have more going which will push on.

And most small home based internet businesses don’t earn a lot of money. Most good regular businesses earn a full time living from that one business. That’s not so easy on the net. It’s much easier to set up a small internet business that brings in maybe $2 to $5 a day. That doesn’t sound like much but if you can set up one like that in, say, a week, then just allow it to run on autopilot and move on to the next one.

Once you have, say, 20 small home based internet businesses like that then you’re starting to earn money! And if you have 20 then there’s no reason why, if you keep working at it, you can’t have 40, or 50, or 60. And each one of these small home based internet businesses keeps working away for you 24/7/365. While you sleep, or go on holidays.

Are small home based internet businesses starting to sound attractive to you now? If so you would be joining a growing band of people who are discovering the joys of making a living online with small home based internet businesses. Give it a go, it works.

Having a bunch of small home based internet businesses is a great home business.

To download a free copy of Peter’s Guide To The Ideal Home Business visit Peter’s Website Work From Home Solutions and find out about Internet Based Home Business and more, including Home Based Business Ideas.

The Three Keys To Starting Your Own Successful Business

admin — Fri, 30 Dec 2011 16:52:33 +0000

* The Three Keys *

There are 3 key ingredients to starting a successful business:

- Good people

- A wanted product

- Low overhead

If you can achieve these three things your business has a great chance of succeeding. Lacking in one of these key areas will almost ensure that your business will fail.

If you look at a business plan these three items are highlighted as the backbone of the plan. Management, use of funds, and the products and/or service or competitive landscape sections of a business plan show that you have looked into these three areas and done your research.

This is why it is recommended by so many that you write up a business plan. If you fudge the numbers, lie to yourself about the items or do inadequate research, in the end it will come back to haunt you.

* Good People *

What do I mean by good people? Good people for your business are those who are knowledgeable and hardworking. These people put their nose to the grindstone and get things done. When I was in the Navy they called it “attention to detail”. In other words people who will not stop until the task is done and done well.

Some may think I am describing a perfectionist. That is not entirely the case. A perfectionist never quits but they also never fully finish anything either. They endlessly toil away never knowing when they have reached a point of stopping. A perfectionist on your team can kill your business.

For example, say you’re running a technology company that is rolling out a new Internet product. If your lead programmer is a perfectionist they may never get to the point of completing the project and giving the green light. They’ll run past deadlines, run your expenditures through the roof and never end up with a completed project.

The other side of the coin is getting someone incompetent. In our Internet product example above, having an incompetent lead programmer is just as bad as having a perfectionist. First, they won’t know when to declare it complete and doing so prematurely with bugs in it could doom your business from the start. This was seen time and time again during the dot-com boom when companies would bring in millions and never complete their actual product. Many went belly up never having actually launched a product. Most of this was due to incompetent people.

The final litmus test for the people involved is in personality. Can the people involved actually get along together? It’s surprising the number of businesses with good people that fail because they simply can’t get along.

The most important person to ask questions about is yourself. Are you ready to undergo the stress and strain of starting a business? Are you willing to call investors and ask for money? Can you make it financially?

If you are a procrastinator or hate doing any work outside your immediate field of knowledge you may not be the right type of person to start a startup.

However if you love trying new things, don’t mind putting in some hard work and sacrificing both time and energy, running a startup may be a fun and rewarding experience for you.

* The Right Product or Idea *

You don’t have to have “the better mousetrap” or “the next great thing” for your product or service. There’s an old saying that “ideas are a dime a dozen” and it is very true.

There’s no real secret to finding the right product or service to sell.

All you have to do is provide what a business or individual wants and needs.

By right product I mean something that is needed or wanted by people or other businesses. If your potential customer base is male and you come out with a pink dress then you’ve failed in doing your research. Granted there are some men out there who may like to wear pink dresses, but the market isn’t large enough for your business to succeed.

If you are providing a service you should definitely do your research on the “competitive landscape”. If you come out with a mediocre product compared to your competitors, you have just cut your company off at the knees from the get go.

Improving upon an existing product, service or system that already works can make your company fly. It has already been proven to work.

For more on researching your product and the competitive landscape see the article “The 5 easy steps to researching your market“.

The hardest part of settling on a product or service is determining what a client wants or needs. Don’t expect your new company to become the next big name brand. With a lot of new businesses they project heavy volume as if they are going to become the next Nike within the first year.

Don’t do this.

Keep your growth numbers conservative. You don’t have to be a huge company to make a lot of money. Settling on a smaller niche market can make you a fortune.

* The Money Game *

Andrew Carnegie said the sole purpose of being in business is to make a profit. If profit is not your goal from the start, then you are probably looking at starting a hobby and not a business. There are a number of sources for funding your company.

These include:

- Self-funding, such as credit cards, savings, personal income or friends and family

- Traditional financial, such as banks and financial institutions

- Venture Capital

- Sale of stock

Self-funding is usually a bad idea. With the failure rate of new businesses you stand to risk losing it all on one mistake. By self-funding you are taking all of the risk onto yourself.

Traditional financing and Venture Capital both come down to your reputation. If you haven’t started a successful business in the past and have an active and working relationship with these groups your chance of receiving funding is virtually nil.

Sale of stock of your new venture comes down to the old quote of “would you rather have all of a small pie or a smaller piece of a large pie?”

Without adequate funding you could end up having no pie at all. Your company will not succeed without adequate capital. A sale of stock, while lowering the amount of the company you own, dramatically increases the chance of its success in the long run.

We’ll take a more in depth look at fund raising later. For now though let’s talk about the other half of the coin… fund spending.

As noted above one of the three keys to a successful business is low overhead. Running out of capital by hiring too many people, having an expensive location or spending too much on unneeded goods, can run you into the ground immediately.

Keeping down costs is a key part of financially managing your company and as we’ll see below lack of financial knowledge is a key reasons businesses fail. Don’t be cheap however. Sometimes it’s worth it to spend the extra on something that will save you money in the long run.

Clearly defined long range goals and planning will help you keep your overhead down, your efficiency up and your business running within it’s budget.

I’m a firm believer in automating as many tasks as you can. With automation you don’t need to hire personnel to fill those rolls and it lowers your “burn rate” and capital requirements. When I started a sports news website in 1998 we were competing with companies that had 150-250 employees. Through automation and smart design I was able to keep our total overhead down and reduce our actual hands on employees to about 6 for all 24 hours in a day.

Take a look at your business and see where you can streamline it and automate things from the start and you’ll reap the benefits of needing less capital and the ongoing monthly “burn rate”.

If you need office space and won’t be meeting a lot of clients face to face you may look into renting an apartment and furnishing it with cheap used furniture. A lot of people work from their homes. There’s no standard that says you have to have an office. You can get a P.O. Box or mail store as an address.

Don’t hire a ton of people!

For each person on the payroll you have then incurred a monthly cost and added to your “burn rate”. On top of their pay, there are the payroll taxes, workers comp insurance, office space and equipment and other expenses that you have to pay for each employee.

Don’t go overboard with your capital. Right when you think you have enough is when you’ll run out.

* Business Failure *

SBA statistics tell us that 60% of small businesses fail within the first 5 years and 90% fail within 10. So how do you get to be the 1 successful startup left standing? Well there are a number of answers to that question. Knowing what the key reasons businesses fail is a start.

Let’s look at some of the main reasons businesses fail.

1. Under-Capitalization

This is the number one killer of small businesses. Not having the capital needed to keep the business going snowballs. Without capital you stop fulfilling orders, customers get fed up with you and sales fall off or stop completely. Not only will you need initial capital, but later you will need it to expand.

2. Bad Debt

Grasping for any type of financing you can for capital can also come back to bite you. Taking a high interest or balloon payment loan can put a company under relatively quickly.

3. Not enough or too many sales

Not having enough sales is self-explanatory. How can too many sales kill a company though? An example would be taking so many sales you don’t have the cash to produce the inventory or personnel required to fulfill. Things back up and the company’s reputation is damaged beyond repair.

4. Financial mismanagement

Not understanding the financial side of your business can kill you. Really small businesses with low costs initially are easy to understand on paper, but as you grow things can quickly get out of hand. Lack of understanding the roots of the finances of your business can take its toll.

5. Acts of God, disasters and economic downturns

There’s not a whole lot you can do about a major economic downturn or a natural disaster. If you are selling high-end vacuum cleaners and people don’t have the money for luxury goods, your business is going to be hit hard. If you are running an Internet business out of your basement and it floods it can kill you off pretty quickly. Having adequate insurance is a necessity. Planning ahead for such instances will give you a leg up on not seeing your hard work go down the drain.

6. Death and disability

Having a key member of your team die or become disabled can crush your small business. Long term disability and life insurance can be a key to avoiding this.

7. Owner and personnel burnout

Working entirely too hard and expanding at a great pace can kill a business due to burnout of the people involved. Proper planning for expansion is a must.

All of these failures can be avoided through planning. While disasters such as a fire in your main office cannot be avoided, it can be planned for so that your business can continue running.

* Forming Your Company *

How many founders do you have?

How many shares should you issue?

How much stock does each person get?

Is everyone working full-time on the company?

Has everyone signed an NDA (Non-Disclosure Agreement) and IP

(Intellectual Property) agreements?

What is the company’s address and phone number?

Make sure no one has signed an NDA or IP rights agreement at another company!

Some of these sound like unnecessary questions to address. Why should I have a friend I trust sign an NDA? Why should we make employment agreements?

I’ll tell you now from experience that it is necessary. You may be friends now, but you never know what will happen in the future. In addition, when forming your company it is an entity unto itself, which means it can be sold, traded or dissolved. Who knows who may be in charge of the company in the future?

Having all of these loose ends done from the beginning will help avoid future headaches and conflicts.

Actually forming your company legally isn’t that difficult. A company really is only some paperwork in a filing cabinet. There are a number of places you can go to and actually form a company online. Just remember there are tax requirements for a company and that you should look into all the legal and tax issues when you form it.

One of the main reasons you would want get all of these things completed and get incorporated is in preparation for the next topic.

* Funding Your Company *

Funding your company is a necessary step to getting it off of the ground. Sure, you can try and bootstrap it along in hopes that it will succeed, but the point of all of this information is to give you the best chance at success, not to start a business on hopes.

This is probably the scariest part for those engaging in their first startup company. Having all of your ducks in a row through proper planning is a necessity. You don’t have to go overboard and end up in “analysis paralysis”, but you sure better know who your people are, what your product is and how it can be sold and what proper amount of funding you need.

A common source of startup funding comes from investors known as “angels”. “Angels” are people who have made money in business and are looking to put their money to work. Most “angels” will require a business plan and possibly a description, prototype or demo of your product or service and how you intend to implement your plan. “Angels” will be looking at your three keys above. Your product, your people and your funding uses.

A key step to raising funding is determining the value of your company. How much is your company worth now? Remember that you are not only determining the current worth, but the future worth of the company as well. This is a hard number to determine.

There are some investors that won’t even look at a company that values itself at less than a million dollars. Investors aren’t going to put money into something that is going to remain at the current valuation, they are looking towards the future.

Once you have settled on a value for your company, you have to determine how much startup capital you will require. Let’s use an example.

You value your company at an even $1 million dollars. You have also done your homework and you have determined you will need $100,000 in startup capital to purchase equipment, pay salaries, acquire insurance, etc… Breaking the numbers down shows that you would need to give up 10% of your company to get the needed capital.

Just remember that when you approach an investor that you are offering them an opportunity. You aren’t simply panhandling, but are giving them the opportunity to profit off of your hard work, research and know how.

Dan Amato lived through the dot-com boom and bust in Santa Clara, CA. He is the co-founder of numerous companies from the ground up and currently maintains http://www.startuphints.com, a free resource for those starting a new business. He can be contacted on his blog at http://www.diggersrealm.com or via email at danamato@gmail.com.

How To Survive & Thrive In Any Business

admin — Fri, 30 Dec 2011 16:47:33 +0000

Ever since she was a small girl, Geraldine wanted to have her own business. As she grew up she gradually decided that, as she loved beautiful clothes, she would save up her money and open a boutique.

By the time she was 25, Geraldine had saved enough money to realize her dream. So she set about finding a vacant store, securing a long lease, buying fittings and fixtures and bringing in stock. By the time opening day came, Geraldine was tired, broke but happy. She had realized her dream; she had her own business.

One week after opening, reality had begun to set in. Geraldine had begun to realize that being business meant more than having a shop full of stock to sell. She realized she needed customers too.

She had excellent knowledge of fashions, fabrics and stuff like that, but she had no skills or knowledge for getting customers. She had no advertising or marketing skills and she had no customers, nor any idea how to get them.

But she also realized that she had upcoming bills to pay, store rent, telephone, utility bills, insurance and a host of others. But she had no money to pay them because she had no income.

Slowly she began to realize that a business’ greatest asset is not its stock, its real estate, its money in the bank, but its customers. She realized, very sadly, that without customers, there is no business.

This is the same story repeated many times over each week. It is the sorry truth that so many people go into business unprepared that 95% of new businesses will fail in 2 to 3 years. Only about 5% survive this time and only about 1% thrive.

Why is this?

To survive and thrive in business takes not only the skills and experience related to that particular business, it takes a multitude of other, general business skills. It takes training and experience. Enthusiasm, while important, is not enough. 100 years ago there was nobody to teach people how to fly an airplane. It was a case of jump in, start her up and “do the best you can, flying by the seat of your pants.” In business today, that’s not good enough.

You can get training and experience by working in your chosen field for a few years. Get paid to learn. Watch the boss make mistakes, and learn from them. Watch his successes and learn from those too. That way you don’t have to pay for the mistakes you might otherwise make. Learn the “secrets” too, if you can.

There’s an old saying, “Build a better mousetrap, and the world will beat a path to your door.” Not True! Even the finest mousetrap, motor car, and airplane, all have to be advertised, publicised, marketed and sold.

For Geraldine, it is now beginning to “gel.” She now knows that you need to advertise and market your business energetically, especially when it is new.

But what if you are like Geraldine? She has spent all her money on setting up her store and is now broke.

Shame on her!

You must always count all the costs before you start. Above all you must count the entire cost of setting up your business, that’s all of the establishment costs right up to opening day. That includes a generous allowance for advertising, promotion and marketing, as well as for personal living costs.

To give yourself a reasonable chance of success you must also factor in at least 6 months operating costs for the business and 6 to 12 months personal living expenses for yourself. Don’t expect to be taking home profits in the first few months.

If you calculate your business will require $8,000 a month total expenses including rent, wages for employees, power, phone, advertising etc., and you can get by on $500 a week personal expenses, then you will need around $60,000.00 in the bank or on hand on opening day. That’s the reality of starting a business.

When you buy a business, you usually pay a lot more than you would to set one up. That’s because you are (hopefully) buying an immediate income from an established and successful business. The seller is trading that immediate income for cash up front.

The alternative, if you cannot put up the needed resources, is the start your business part time, whereby the risks are lower, the overheads are lower and you have some income from a job as a backstop.

So what do you need to calculate?

You need to calculate the expenses of finding and renting a store (not the rent itself), the cost of fit out (furniture, shop fittings, equipment, floor coverings etc), stock to start, utilities connection and deposits, wages during set up (if any), advertising and promotion before launch.

Then you need to calculate all the ongoing expenses for a minimum of six months including store rental, wages, utilities, advertising and marketing and your own “take home” allowance for personal expenses.

That’s just for starters!

Now you need to investigate and decide on the best media for your advertising. And what a choice you have. There’s local newspapers, major city newspapers, national newspapers, magazines, Yellow Pages, billboards, home delivered fliers and catalogs, radio, TV, and direct mail.

Will you write your own ads, or have an agency do it? What offers will you make to attract customers, and how will you make them? Will you compete with others in your market on price; quality; service? What will it be about your business that makes you unique, puts you head and shoulders above the rest?

How much will you spend on advertising and marketing? Will it be a fixed monthly budget, or a percentage of turnover?

Will you use passive advertising, or active direct response marketing?

What about location? Will your business be better suited to a mall location or 5 miles out of town?

All these questions need to be asked, and answered, before you spend one dollar on setting up your business. If they are not, you run a strong risk of losing every dollar you spend on setting up the business. You need to draw up a complete business plan and a marketing plan, for sat least the first 12 months you’ll be in business.

And what happened to Geraldine? She invested less than $30 on a manual “The Retailers’ Bible” to help her get her business back on the road and, 5 years later, is a very happy and successful businesswoman.

© 2005, Leslie H Sprankling. All Rights Reserved. Leslie H Sprankling is an Australian Business and Marketing Consultant with 30+ years in business. Leslie is the author of the successful book “The Retailers’ Bible available now at [http://www.better-n-chocolate.com/retailersbible]. There you will find many business and personal software programs & business publications to help you develop and grow your business that are not available anywhere else on the internet. Also, you can get many free business articles like this one, for your own use or for publication and distribution.

NOTE: This article may be freely used, published or distributed in ezines, newsletters or websites providing the articles remain unchanged in any way and this resource box is included intact. For more information or inquiries please contact Leslie at mityoaks@bigpond.com

Writing A Music Business Plan For Your Business Growth

admin — Fri, 30 Dec 2011 16:42:33 +0000

For those interested in the music business, few things are as exciting or as challenging as opening their own music business. There are many facets to the music business, from acting as agent to the hot new music group to running a successful outlet selling new and used musical instruments.

==The Music Industry==

The music industry offers some unique challenges and some great opportunities, and the savvy businessperson can take advantage of those challenges and opportunities to create a thriving business even in the most difficult of climates.

Before opening the doors of your great music store, or taking the new band to the top, however, it will be necessary to create a solid business plan in order to attract financing, partners and investors.

No businessperson will invest in a new music business without a thorough understanding of that business’s prospects for success. A business plan is a way to communicate the goals of the business and to quantify its financial needs and prospects.

== What Should You Include In Your Business plan ==

Many new business owners are unsure how to write a business plan, or what that business plan should include. Every business plan will be different, and the business plan for a new music business may look quite different from that of a new accounting business.

That having been said, however, there are certain elements that all business plans have in common, and certain things that they all must include.

Some of the required elements of every business plan include:

What the business does. Any potential investors will of course want to have a thorough understanding of the purpose of the business, and, most importantly, how it plans to make a profit.

The mission statement of the business, a mission statement is most commonly a simple one page document which details the purpose of the business and the business philosophy of its owners and management.

Information on the experience and qualifications of the management team, this is one of the most important parts of any business plan, and it is particularly important for those opening a business in the music industry.

The management team is a key to the success of any business, and it is important that the team be able to guide the business to profitability.

== The Challenges Facing The Music Industry In General==

A discussion of the challenges facing the music industry in general and the business in particular; it is important that the business plan include a discussion of the ever changing nature of the music industry, both the challenges created and the opportunities provided.

It is important to detail how the nature of the music industry will affect the prospects of the company as well.

Starting a music business is not easy, and it will require perseverance, hard work and of course long hours and substantial capital investment. The rewards of a successful music business are great, however, and well worth the risk and the time invested.

Shaunta Pleasant is a professional web writer and editor on business plan topics. Visit my site to learn more about writing a business plan a http://www.business-plan-made-easy.com

Successful Home Business Opportunities

admin — Fri, 30 Dec 2011 16:37:33 +0000

Successful Home Business Opportunities, for years you’ve dreamed of being the owner of a successful business. One of the successful real home based businesses. You’ve even imagined your business at the top of the best home business list. The problem is you don’t know where to start.

Where you start is with an idea. Where, you might ask, do you the right idea for your business from the multitude of successful home based businesses available? Well, how about your own home?

That’s right. One of the most popular and most Successful Home Business Opportunities is online auctioning. Start looking in your closets, your CD rack, your bookshelves, your garage. You’ll find things that people out there want. All you have to do is sign up at any of the online auction sites and let the bidding wars begin.

You’ll be amazed at how much money you can make. And to become an even more successful home based business, invest the profits from your sells in higher-ticket items you can buy at a discount or on sale, then resell them. Keep this cycle going, and you’ll create a highly successful home business.

That’s just one example of how easy Successful Home Business Opportunities are to create. In writing, there’s a rule about writing about what you know. The same is true for business: do what you know. Lawn care, childcare, pet sitting, the list is endless. Sit down and write a list of all the things you know how to do, then think of how you can turn any of those things into a business.

Because Successful Home Business Opportunities all have one thing in common: they found a need and filled it. Elderly people love to have their pets walked for them and their errands run for them. People today are all so strapped for time that they’ll pay, and pay well, to have their lawns taken care of. So think of what you know how to do and how those things can be turned into real home businesses.

After you’ve chosen the business you want, you have to go further to make it one of the truly Successful Home Business Opportunities. Here, you have to do some planning. Some questions to think about are:

Where is the market for my business?
How do I get the news out about my business?
Do I need to get a business license?
Is my neighborhood zoned for at home businesses?
Should I incorporate?
Do I want or need a partner?
Is there any equipment I need to buy?
Where do I go for accounting services?
Do I need liability insurance?
Will I need to hire people to help me?
What do I do about taxes?
Do I need any special permits?

These are just some of the questions you need to consider when trying to build a business that joins the ranks of Successful Home Business Opportunities. But don’t freak out. You don’t have to have all the answers right away.

You do, however, need to have an idea of what your business will require in everything ranging from accounting to clean-up, if there is any, as you start and grow your business. Really, it’s like building a house. You start with a blueprint and go from there. You build a business the same way. But you can’t build anything unless you know what it is you’re building. It’s the same when it comes to building successful at home businesses.

Now that you have the idea for your successful home based business and an idea of the steps it will take to make it into a reality, you need to put in the necessary effort. You’ll also need determination.

Rome wasn’t built in a day. Neither was your house or apartment building. Determination will keep you on track when you encounter bumps in the road to success. It might even take your business to the top of the best home business list someday.

Randy currently has a website dealing with Reviews of Coffee Related Products such as coffee makers, espresso makers, coffee, k-cups, and more plus articles on coffee enemas and other coffee and health related topics. He also has a website of Reviews of Small Appliances [http://www.smallappliancebuyerguides.com/] such as ice cream makers, vacuum cleaners, mixers, irons, toasters, food processors, and many other appliances.

Basics For Writing a Business Plan

admin — Fri, 30 Dec 2011 16:33:33 +0000

Just about every nine to fiver has dreamed of leaving the world of office politics or the factory floor behind and starting a business of his or her own.

There are many reasons why owning a business is such a common dream. For one thing, owning a business puts you in solid control of your future and your earning power. Instead of tying your financial future to the fortunes of another, an entrepreneur takes matters into their own hands and takes charge of their financial future.

== Making Sure Your Business Is Successful ==

It is a good idea to make sure your business is successful before you quit your day job. Why not work on your present job and build a part time business on the side?

Of course starting a new business is never easy, and the failure rate for a new business has historically been high. It is vital, therefore, to create a solid, detailed and complete business plan before quitting your job and striking off on your own.

== Financing Your Business ==

A business plan is a very important document, and it is necessary in order to obtain the financing that every new business will need in order to get off the ground.

It is the rare business that can get up and running without outside financing, and a business plan is an absolute necessity in order to obtain that needed financing.

== Researching The Business You Plan To Start ==

When it comes to writing your business plan, it is important to thoroughly research the business you plan to start.

== Things Your Business Plan Should Include ==

The business plan should include information on such things as the annual operating budget of the business, the proposed expenses of the business, any equipment needed to run the business successfully, and the proposed location of the business, including the amount of the rent or mortgage payment.

In addition to the basic financial information, it is important that the business plan contain information about the partners of the business, including their areas of expertise and length of business experience.

The successful business plan will also include relevant information on specific challenges faced by the particular industry, including any specific legal challenges or tax ramifications.

Starting a new business is exciting, but it can also be nerve wracking and stressful. It is important, therefore, to do as much research as possible, and gain as much knowledge as you can. Only by garnering a thorough understanding of the business world and your place in it can you enhance your chances for success in today’s competitive world.

Shaunta Pleasant is a professional web writer and editor on business plan topics. Visit my site to learn more about writing a business plan a http://www.business-plan-made-easy.com

The 10 ‘Silliest Bits of Advice’ to Ignore when Buying or Running a Business

admin — Fri, 30 Dec 2011 16:30:33 +0000

As soon as you talk to friends and associates about going into business there will be no shortage of tips, advice and guidance offered to you. It’s important to talk with others who have are experienced in business, especially those who have been successful. Think twice about taking advice from anyone in business without a successful track record. This includes advisers whose advice contradicts that given by highly successful business owners.

The following are 10 bits of advice which are straight out silly and stupid. If you are ever contemplating buying or running a business make sure you ignore these so called “pearls of wisdom” when they are “thrown” at you.

“You will make a fortune – go for it.”

People who tell you that you will make a fortune and encourage you to get right into business without taking the time to talk with you and assess what your business is all about are simply fools. If they are not in a successful business themselves, then they are not only fools, but also idiots. Steer well clear from this advice. Make sure all your decisions are based on sound research and facts. If necessary get a second and third opinion. You can never get too much advice from those people who know what they are doing.

“All you need to do is think success.”

You can think success all you like, but you’ll get nowhere unless you “get off your bike”, sit down with your advisers and put your business ideas into action. Success has nothing to do with luck, or with visualization or any other “airy fairy” notion. Success comes through hard work, sound planning, adequate finance, motivation, family support, detailed research, knowledge of the market, seeing how your competitors are doing, setting achievable goals, balancing work with time out and using good old common sense.

“You’ll be able to enjoy your life now, working whatever hours you want.”

Don’t fall into this trap. You may find that when you start working for yourself you will have to put in more hours than when you were working for a boss. There is no such thing as closing time at 5 o’clock if you are self-employed. There are obviously more opportunities to restructure your hours to suit your lifestyle and your family, but never forget that if you don’t put the hours in, you will not produce sufficient income to make your business successful. You’ll need to discipline your time so your business hours are used only for business and then work in a balance so you have time out for relaxation and even a cup of coffee when you feel like it.

“If you have a strong enough dream – you’ll make it.”

Once again, you can dream all you like, but nothing’s going to happen unless you get out there and do it. Your dreams should be your motivation. While there is some truth to the saying – “visualise success in order to be successful” – this only applies to the fact that unless you can visualise success, then there is nothing to strive for. Anyone can dream, because dreams are easy and dreams are free. Converting those dreams to success and profit needs something else. That something is planning, effort and commitment. Don’t simply be a dreamer. Be a doer.

“There’s no reason why you can’t be as successful as so-and-so.”

This is not entirely a myth, because there is no reason why you can’t achieve some success. You have the same amount of brain matter as anyone else. You may even be smarter or more creative than others – but this can also work the other way. Other people may have qualities such as entrepreneurial drive or plenty of family money to help them in their business. Use the success of others as motivation, but never get the idea that being successful is going to be easy because so-and-so has done it. Your success or otherwise will depend entirely on you.

“Don’t do it – too many people fail in business.”

Statistics show that over 70% of businesses close up or fail within the first 3 to 5 years. These are disastrous statistics. They’re enough to put anyone off planning any type of self-employment. Someone once told this story: “Maestro, said the surgeon to the famous musician, I played for you at a master class. You advised me to stop playing professionally. You said I would never be great. I want to thank you because I listened to your advice and became a doctor. The maestro peered at the surgeon and said, ‘I don’t remember you – because I tell all my students that. The great ones ignore my advice and continue anyway’.” Don’t allow the “you’ll probably fail” advice to put you off. Follow what may have been in your heart for a long time. Sit down and talk with others and then assess whether you should continue after weighing up all the facts obtained from your research.

“You should be okay, but you need to build up your confidence.”

You may be lacking in confidence, but confidence is only a part of what you need to be truly successful in business. Your confidence will grow as you achieve some of the goals you set yourself. Confidence comes from experience and experience comes from mistakes. Mistakes come from just doing it. There’s nothing wrong with making a few mistakes along the way, but if you hold back because someone said you don’t have the confidence, then you will do yourself a disservice. If you lack confidence, do some business courses, carry out research on your type of business, talk to other business owners in your industry, discuss it with an experienced and positive business adviser, etc. Confidence miraculously comes when you put that first foot forward. Just do it.

“You can always return to what you were doing before.”

Never allow yourself an easy way out – because at the first sign of trouble, you’ll take it. In any event, if you leave your well-paid job to go into business and then find you are not successful, it may not be that easy to return to your former trade or occupation. There is no doubt that you could do it, but you would lose a lot of ground by leaving a secure job and then returning back to start from the ground floor up again. Also, the fact that your business failed would not look too good on your resume. Remember – while it seems an easy move, in reality it may not be. Think winning not retreating. Take no prisoners.

“Don’t worry, be happy.”

If contemplating going into business, then this little saying is probably the silliest bit advice of all. Business is not a game. You will have hard times as well as good times. You will have problems – from staff, or being sued by another company. You can always count on a disaster or two, such as goods going astray or your premises being burgled. So prepare for it. Try also to keep in mind this one thing – stay out of court at all costs. Try and settle your differences together rather than going to law because it will cost “heaps” in money, time and heartache. Depending on the seriousness of the action, it will cost you in extra years added to your life from the stress of it all. Business generally brings with it worries – at times. However, to offset this – being in business can also bring happiness and satisfaction. If you study how to run a business, listen to advisers and work hard to follow the basic principles for success, then your chances of being happy, wealthy and fulfilled are pretty high.

“You can quit anytime anyway”

If you buy a business with that thought in your heart, you will most likely not stay the distance. At the first sign of stress or difficulty you’ll give it away. Don’t quit. Nothing beats perseverance. The tiny drip of water hitting the iron bar – day after day, hour after hour, minute after minute, second after second – will eventually corrode and smash it. Nothing can stand in your way if you are determined to win. No one can stop you succeeding except you. If you don’t quit you’ll make it! That’s the catch cry used by the multi billion dollar AMWAY industry’s sales millionaires.

Never ever quit. Never surrender – ever.

StartRunGrow is a global online information organization that specializes in creating, developing and marketing business help information specifically with the aim of “making business easier” for entrepreneurs around the world. For many more free articles, success stories, forms & agreements and more, visit StartRunGrow.com

Bad Credit Business Loans – When Your Credibility Becomes Secondary to Bad Credit

admin — Fri, 30 Dec 2011 16:27:33 +0000

A business stands firm on the ground with the help of funds. Every business man would know that without finances one can’t establish or advance a viable business plan. Not everyone is born with the kind of money required for furthering a business plan. Bad credit is so prevalent and this is the reason why we have bad credit business loans.

In practice, bad credit cannot prevent you from having bad credit business loans. Bad credit business loans can be difficult to find but they are certainly not impossible to find. Writing a good business loans application is key to getting it approved. There are a few things that the lender won’t neglect while providing you with business loans for bad credit. Business plan and its feasibility are crucial for bad credit business loans. Along with that lender will look for equity, collateral and repaying ability.

Now credit history is fundamental to getting a business loan approved. Since you have bad credit, you should start with your credit score. Obtain your credit report from any of the three credit reporting agencies – Experian, Trans Union and Equifax. Many people are unable to understand what the report and credit score signify. Credit score is given after studying the data in the credit history -

o Late payments

o The amount of time credit has been established

o The amount of credit used versus the amount of credit

available

o Length of time at present residence

o Employment history

o Negative credit information such as bankruptcies, charge-offs, collections, etc.

A

Bad credit business loan lender will usually use a FICO score to identify your bad credit. Fico score ranges from 340-850. The lower your score is the chances are you might be seen as a greater credit risk. Any business loan borrower with a credit score below 600 is considered as bad credit. Here the business loans application will be approved with the added compensation of higher interest rates and down payment. Higher interest rate is attached to bad credit business loans. Research would be an investment worth it while finding a bad credit business loan. Comparatively low interest rates are possible for bad credit business loan.

You should be aware of your exact credit score before you apply for bad credit business loan. In case you have improved your credit score since you last saw, you can get lower interest rates. Credit repair may be a good step before you apply for bad credit business loans. Bad credit will not vanish immediately but there will be a gradual improvement. Don’t make credit repair without thinking for it may backfire. For shutting down a credit card because the interest rates are high, can harm your credit score.

Bad credit would not be the only criteria for getting business loan. If you can prove the ability to repay in spite of bad credit your loan will be approved. Bad credit business loan application should have

o nature of your business

o the objective of using the business loan

o business name

o Your social security number

o proof of ownership

o letters of reference

o contracts, tax returns

o financial statements, credit references

o Incorporation or LLC organizational document

It is important that a lawyer reviews your bad credit business loan application. Read the fine print and check carefully for things like hidden charges, including annual fees, bank charges, closing costs, commissions and balloon payments.

£50,000-£200,000 is the range for bad credit business loan. This will depend basically on your loan repayment ability. Try to make a claim that is practical for your situation. Failure to repay will have serious repercussions on your credit which is already marred.

A business loan works in exactly the same way as a personal loan, the only difference is that it is the business doing the borrowing, not the individual. Bad credit business loans are used for a variety of reasons, including starting a new business, purchasing an existing business or refinancing an existing business. Whether it is to alleviate cash flow problems or fund future activity, a loan can provide a business with instant funding.

You are in record a financial risk – you may not be that otherwise. Bad credit business loans are meant to argue against the record in favour of the creditability of the person himself.

After having herself gone through the ordeal of loan borrowing, Natasha Anderson understands the need for good quality loan advice. Her articles endeavor to provide you the wise counsel in the most elementary way for the benefit of the readers. She hopes that this will help them to locate the loan that beseems their expectations. She works for the UK secured loan web site uk finance world.To find a Secured or unsecured loan that best suits your needs visit http://www.ukfinanceworld.co.uk

Businesses For Sale In Seattle Washington

admin — Fri, 30 Dec 2011 16:24:33 +0000

There are many types of businesses for sale, and there are many ways to find these businesses. You can look on the Internet or search in the newspaper. You can also purchase a franchise. Once you have found and compared businesses, and are ready to make a purchase, there are a few things you should do before signing on the dotted line.

Finding businesses via the Internet:

Many web sites act as a go-between for people selling and buying businesses. Once you find one of these sites, follow a few easy steps to find a business that is right for you.

What type of business are you interested in? Businesses are broken down into many categories, including auto dealerships, grocery stores, social services, museums, printing, and even leather products. Of course there are many more to choose from.

What location are you looking in? Web sites break down businesses into states, cities, or regions.

After you have selected a type of business and a location, a list of businesses for sale in the area will come up. Here you will be able to see the name of the business, the asking price, and sometimes other information (including the amount the business has been making annually, and the address at which the business is located).

Many times you can click on the business for even more information. Sometimes the cost will be broken down into real estate value, product being sold with the business, etc. You may also be able to find out the age of the business, and whether or not the previous owner will provide training.

Last of all, you will be given a contact name and information to find out more information and begin the process of purchasing the business.

Finding businesses for sale on the Internet might not be for you. If that is the case, you can look through the newspaper for business buying opportunities.

Finding a business in the newspaper:

The newspaper will often list the businesses that are for sale. If you do not subscribe to the newspaper, you may find the information you want on the newspaper’s web site (if they have one).

While looking on the Internet, or in the newspaper, you may come across franchise opportunities. Owning a franchise is somewhat different from owning your own business.

Franchises:

Franchises are another way to purchase businesses for sale. Franchises are national or regional chains that sell you one or more of their businesses. You are buying the business name and system, in essence, but there is more to it than that. You must continue to meet requirements set by the business owner. There are restrictions with franchises that you will not have with your own business.

Once you have found your potential business:

Once you found a business you are interested in, make sure you have the land and the building appraised. You should also have the building and the land inspected. Once you have done this, write out a detailed contract in order to avoid future problems.

Inside Seattle Real Estate [http://seattle.inside-real-estate.com/commercial-properties.html] is a network entirely devoted to real estate information. The entire Inside Real Estate network has more than 100,000 pages of real estate for cities allover the United States. Inside Real Estate covers several topics from the basic “how to’s” of real estate to city-specific real estate information.