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Monthly Archives: June 2016

Succesfull Business Tips

succeed-businessWhat do you need to do to start a business? There are dozens of sites on the web including ours that have checklists that remind you of the many tasks you should perform to start a business. While such checklists will help you remember a lot of important steps you might otherwise overlook, they are rather impersonal To Do lists. They won’t make or break your success.

What will make or break your business? Here are  important guidelines for turning your business idea into a successful business.

# Know yourself, your true motivational level, the amount of money you can risk, and what you’re willing to do to be successful. Sure, we all want to make millions of dollars. But what are you willing to give up to reach that goal? How many hours a week will you work on an ongoing basis? How far out of your comfort zone are you willing to stretch? How far will your family stretch with you? To be successful, keep your business plans in line with your personal and family goals and resources.

# Choose the right business for you. The old formula – find a need and fill it – still works. It will always work. The key to success is finding needs that you can fill, that you want to fill, and that will produce enough income to build a profitable business.

# Be sure there really is a market for what you want to sell. One of the biggest mistakes startups make is to assume a lot of people will want to buy a particular product or service, because the business owner likes the ideas or knows one or two people who want the product or service. To minimize your risk for loss, never assume there is a market. Research the idea. Talk to real potential prospects (who aren’t family and friends) to find out if what you want to sell is something they’d be interested in buying, and if so, what they’d pay for the product or service.# Start on a small scale before going all out. Some people believe that entrepreneurs are risk-takers. But for the most part, successful entrepreneurs don’t like walking blindfolded on a limb. Instead, they take controlled risks. They test an idea on a small scale, then build on what works well, tweak what shows promise and discard the disasters.

# Don’t fixate on mistakes or get demoralized by them. The difference between successful people and everyone else is that the successful people learn from their mistakes and move on. They don’t dwell on failure, blame the economy, curse their bad luck, or blame other people for their fate. If the path to their goal is blocked, they look for an alternate path, or sometimes choose a different, more attainable goal.

# Learn from others. Find mentors, join groups with like-minded people, learn everything you can about your industry and what it takes to get from where you are to where you want to be.

Attend industry conferences. Take training courses when they are available. Buy courses offered by experts. You’ll save a tremendous amount of trial and error by learning from people who have been there before.

# Plan to succeed. If you’re not seeking investors or putting a huge sum of money into your business, you may not need an elaborate business plan, but you still do need a plan – one that specifies your goal – your destination – and then lays out at least a skeletal roadmap for how you’ll get to where you want to go. The plan will change as you progress and learn more about your customers and competition, but it will still help you stay focused and headed in the right directions. Use our business planning worksheet to help develop that basic plan.

# Don’t procrastinate. I’ve heard some people advise would-be business owners to not move ahead with their business until they have investigated every last detail of the business they want to start, and are absolutely sure it’s all going to work and be profitable. The problem with that approach is that it leads to procrastination. No one ever really has all the pieces in place – even after they’ve started their business. Yes, you need to research the market, have a rudimentary plan in place and do things like get a tax id if needed, register with local officials, if required, etc. But if you try to make everything perfect before you launch, you may never get around to starting the business at all.

# Think of what you do AS a business. Keep track of income and expenses, keep business money separate from personal funds, find out what regulations your business needs to abide by.

# Understand the difference between working for yourself and building an ongoing business. If you want to build a business, you need to develop systems and methods that allow you to hire other people to DO the work of the business while you plan it. You limit the potential for growth if you don’t bring in other people to work for you.

# If the business you are starting will need investors to grow, do what you can to find out what investors are looking for and where to find those who might invest in your kind of business. Local angel and venture capital groups are a good place to start – attend meeting they hold or meetings that investors are speaking at.

# Put yourself out there. Ask for what you want (in a polite way.) I started my online business by participating online on GE’s GEnie online service. When I was ready to send them a proposal to run a small business area, I could not only talk about my credentials in general, but point to places I was already contributing to their service. I became one of the early content providers to America Online because I picked up the phone and made a cold call. I wound up with a new consulting client after I struck up a conversation with a woman sitting next to me on an airplane. Remember, people like to do business with people they know. Get the ball rolling, and keep it rolling by continually reaching out and introducing yourself to new people.

# Never stop learning and trying new things. What’s profitable now, won’t necessary be profitable next year or 10 years from now. So, don’t let yourself fall into the “this is the way I’ve always done things” rut. Keep your eyes and ears open for new things. Are there newer or better ways to market your products and services? Are customers asking for something you’re not offering? Is there a different type of customer you should be targeting? Get answers by reading everything you can about your industry and listening to your customers.

Start in Your Spare Time with These Business

Whether you’re looking to make spending money in your spare time or launch a part-time business that could evolve into a full-time career, the opportunities are virtually limitless. From leveraging your natural talents in the freelancing world to filling a void in the marketplace, these business ideas will inspire you to carve out your own niche.

# Become a re-seller

Sell unwanted or new items via Amazon, eBay, Etsy and other online marketplaces. This type of business can be scaled to your schedule, budget and inventory.

# Create social media posts for businesses

Although finding clients may be easier with a marketing degree, connections and a knack for crafting relevant posts on Facebook, Twitter and other social media platforms can help you launch a successful social media business.

# Sell your arts and crafts projects

Artists and crafty types have plenty of opportunities to make money. Get involved with your local arts community, and sell your wares at area art fairs or craft shows. Join Etsy or another online arts and crafts marketplace, or set up your own website.

# Clean houses or businesses

If you’re fast and produce great results, professional cleaning can be lucrative. Both types of cleaning services can be done on a part-time basis; whether you choose residential or business depends largely on your schedule.

# Become a tutor

Whether you’re helping young students with difficult academic subjects or enabling adults to master a language or learn a new skill, tutoring is a profitable side business that doesn’t require a huge time investment.

# Start an information marketing business

From weight loss to career development, you can earn a passive income by creating information products on one of an endless number of subjects. Offering expert information via eBook, CD, video or another format can help you earn a passive income while working a full-time job.

# Start a repair business

If you’re a handy man or woman, your skills are in demand. Help homeowners complete their “honey-do” lists by performing household tasks for which they lack the time or knowledge. Find out whether permits are required in your area.

# Offer personal training services

Personal training is a natural fit for those who are passionate about physical fitness. Trainers can also work full-time jobs because most clients want appointments after work or on weekends. You’ll need to invest some time and money in certification.

# Offer your services as a freelance personal assistant

If you’re efficient, you’re reliable and you love being on the go, this may be the business for you. From grocery shopping and purchasing gifts to dropping off dry cleaning or picking up concert tickets, helping busy people save time will make you an in-demand assistant.

# Provide pet services

Animal lovers can profit from their passion by offering a range of pet services. Dog walking, waste cleanup, pet-sitting and transporting pets to appointments are just some of the profitable ways you can help pet owners save time.

# Start a cooking or baking business

Turn your baking or cooking skills into a side business. Decorating cakes, catering and selling baked goods are just a few ways to make money online or in your area. It’s important to note that you’ll need to learn about city and county food preparation regulations if you decide to cater or sell locally.

# Write for money

Online article writing and blogging are some of the easiest, most flexible ways to break into professional writing. More experience may be required for copy writing, technical writing and certain other types of content creation. Gain clients through your own website or by getting in touch with local businesses.

# Become a purveyor of natural products

Toxin- and chemical-free products are sought after by “green” consumers. Turn a soap-making hobby into a business, or sell nicely packaged natural cleaning products online and at local events. Consider offering free samples to friends, family and other willing recipients in exchange for their honest opinions before selling your products to the public.

# Get involved in affiliate marketing

Affiliate programs allow you to make money by promoting a company’s products. When customers buy from a business by clicking on an ad or link on your website or blog, you make money. Affiliate programs abound, allowing you to profit from click-through links to small business sites or mega-retailers like Amazon.

# Provide virtual assistant services

Busy professionals often need help with clerical and customer service-related tasks. The great news is that you can make money by supplying virtual assistant services from your own home. From answering emails to organizing contact lists, you can help business people save time and money while earning money in your spare time.

These business ideas can help you find the perfect venture for your skill set or maybe even inspire you to create an entirely new moneymaking niche.

Know These Startup Business Checklist

The business start-up checklist below is meant to remind you of the tasks you may have to perform when starting your business.

Not every small business will have to complete each step. For instance, you may decide not to register your trademark with state or federal officials. Or, you may not be required to publish a notice of intent to do business.

Since laws vary by state and by type of business, be sure to check with local authorities to determine if there are any additional legal steps you need to take.

  • Choose a business based on your skills and interests
  • Research the business idea

    – What will you sell
    – Is it legal
    – Who will buy it and how often
    – Are you willing to do what it takes to sell the product
    – What will it cost to produce, advertise, sell & deliver
    – With what laws will you have to comply
    – Can you make a profit
    – How long will it take to make a profit

  • Write a business plan and marketing plan
  • Choose a business name
  • Verify right to use the name
  • See if the business name is available as a domain name
  • Register the business name and get a business certificate
  • Register your domain name even if you aren’t ready to use it yet
  • Choose a location for the business or make space in the house for it
  • Check zoning laws
  • File partnership or corporate papers
  • Get any required business licenses or permits
  • Reserve your corporate name if you will be incorporating
  • Register or reserve state or federal trademark
  • Register copyrights
  • Apply for patent if you will be marketing an invention
  • Order any required notices (advertisements you have to place) of your intent to do business in the community
  • Have business phone or extra residential phone lines installed
  • Check into business insurance needs
  • Find out about health insurance if you will not have coverage under a spouse