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Small Scale Business Ideas – Starting Your Own Internet Business

May 14, 2022 Comments Off

Did you know that starting your own internet business, instead of an offline business, is one of the best small scale business ideas that you can explore?
Less costly to start up than a traditional offline business – often thousands of dollars less – an internet business can start small and blossom into a 6 or 7 figure a year venture. How successful it will be depends on many factors, including the skills and resources you acquire, how well you apply up-to-date strategies and tactics, and how much and how fast you can outsource.
The first step is to learn the basics of how to set up an internet business, including how to do market research, set up a simple website with quality content and drive traffic to the site to (hopefully) generate sales.
Unfortunately, there are too many tales of people who spend thousands of dollars on training and ‘how to make money online’ products with little or no results to show in their bank account. Therefore, the most important thing you can do to avoid this trap is to find a reputable teacher who teaches the basics in a clear, step-by-step fashion, and ideally also offers advanced training.
There is a lot of valuable free information about how to start an online business. But it will take you weeks, or months or even years to collect everything you need to know for free. It’s also important to get feedback about what you’re doing right and wrong. So do your due diligence to find someone who seems trustworthy and is definitely a success online to learn from.
Easier said than done? Ask around, on blogs and online forums, to narrow down your choices. Contact the marketers who offer courses to see how they respond to you before you put any money down. Are they receptive and prompt about answering your questions? Can you find positive reviews by other people about what they offer? Can you contact the reviewers to ask more questions and feel sure that you are being given answers that aren’t motivated by commissions they get if you sign up?
There is a lot to consider when choosing the right course and mentor, but it’s well worth your time and effort to find reputable teachers who truly want to help anyone who is keen about starting their own internet business.…

Small Business Success – Don’t Let Your Big Customer Sink Your Business

May 12, 2022 Comments Off

A big, repeat customer for a new small business can be both a blessing and a curse. The positive side is more obvious-the business establishes an early recurring source of revenue. Since revenue is the lifeblood of any business, what could be wrong with that? Nothing, if you don’t stop there.
Any new small business owner will tell you that there is never enough time to do everything he or she knows they need to do to grow their business. In addition to fulfilling customer orders, there are personnel issues, the website and other marketing activities, and an unbelievable number of administrative tasks that must be done even if they don’t help to grow the business.
It seems perfectly logical to focus on just that one big customer when keeping up with that customer’s orders is taking all of your time. After all, you have too much work to do now. Why go out and look for new customers? Wouldn’t it be better to just take care of the business you have? The answer is ‘absolutely not.’ Don’t fall into that trap.
Of course you want to take care of your big customer. But you cannot stop there even for a short time. Doing so becomes a habit and a way of life for too many small business owners. Remember, if you only have one customer, no matter how big, you don’t have a business, you have a job. Eventually it will become clear that you have no leverage and no control even over the fate of your own company.
To drive this point home, imagine that your new business gets off to a great start. You land that big customer that everyone would want and you take care of them like no other. Your business grows, you’re hiring people, taking on more office space, profits are strong and you’re living the American dream. Then, after three years, they still account for 80% of your business and suddenly something changes. For any of a hundred reasons, you’re notified that your number one customer will be your customer no more.
Within 90 days, you lay off more than half your staff, take a pay cut and are negotiating with an unsympathetic landlord to take back some of the office space. As you sit in your office alone at night with your head in your hands, you say to yourself, ‘If only we had gone after other customers when we had the chance.’ This story and this pattern are far too common among small business owners. It leaves previously successful small business leaders feeling betrayed, humiliated and defeated.
Regardless of your success with any given customer, it is essential that you build a broad base of customers as if your business depends on it-because it does. To ensure that your team gets behind this goal include “number of new customers” as a metric in your incentive compensation or bonus plans. As the business owner, delegate less important tasks and stay involved in both the ‘big’ customer account and the effort to bring in new customers. If you’re just starting a business, be sure that in your business plan outline you demonstrate how you will pursue a broad customer base.
Be sure that your small business plan and operating plan make a commitment to developing a diversified base of customers. This is a winning long term strategy. In doing so, you’ll even out the ups and downs in revenue and profitability. This will serve you well if you ever seek a small business loan or line of credit. You’ll be creating a business with a higher valuation and one that delivers stability and peace of mind to its employees and owners. Make sure your small business plan includes a commitment to building a broad base of customers.…

Great Small Business Ideas For 2012

July 29, 2021 Comments Off

Small Business Ideas
If you’ve been considering starting your own small business, you will be happy to know that there are an amazing number of great small business ideas for 2012. Starting a new business is exciting, but you need to make sure that you are choosing a business that is going to be able to sustain your expenses and provide a profit, and that it is something that you know you will be able to do, and that you want to do. Choosing a business that offers something that people need and want is an important factor as well.
Small Business Ideas for 2012 for the Web
Selling things online is more popular than it has ever been, and you will find quite a few ways that you can get in on the action. You could sell items on eBay, which has been a popular small business opportunity for many years. You could also make and sell your own products, such as soap or jewelry. Another option is to write and sell e-books online. You will find plenty of different types of items that you will be able to sell on the web.
If you know a bit about SEO and web marketing, you could offer your services to companies that need help in this area. You could consult with the companies, create content, and guide them in the right direction.
Look Beyond the Web for Small Business Ideas for 2012
You will find plenty of great offline small business ideas as well. Becoming a makeup artist and hiring your services at a salon or spa can be lucrative. You could also offer cleaning services for homes, pools, garages, commercial buildings, and more. If you enjoy helping and taking care of people, consider starting an elder care business. You don’t have to be a nurse in many cases, since some people only need help with errands, groceries, and the like.
You can even go green and start a recycling business. If you have a pickup truck or similar vehicle, you can offer to pick up the recycling that people don’t know how to dispose of and take care of it for them. You could charge to pick up certain types of items, and you can receive money from recycling centers for other items.
Choose the Best Small Business Ideas for 2012
Some businesses are going to be better suited to you than others are, so you should take your time and make sure that you find something that you will enjoy. There can be a disconnect between the abstract idea of following your bliss and the often painful realities of starting and successfully operating a new enterprise.
While there are plenty of great small business ideas and opportunities are out there, the single most important factor determining your success is you choosing the right one.…

Great New Small Business Ideas for Enterprising People

June 26, 2021 Comments Off

Many small business owners who have succeeded attest to this. Without the right skill sets or knowledge in running a business, it is bound to be short-lived. Knowledge about the market is also important since you’d want to offer something of value to customers, or which can satisfy their needs.
Having a pulse of the market is also important because it avoids duplication and spurs innovation. New small business ideas that can target a specific market – like online and offline Internet marketing information and training products – are also bound to attract market share and flourish. The key is to offer product quality and consistency.
When considering to start a small business, then, check if you have sufficient capital, the set of skills to start and sustain it, hired hands (or technological tools) that can assist you in the start-up venture, and most important of all, the passion and sound business plan to carry it through.
It’s easy to be enticed to open a small business, but capital alone won’t guarantee success. Brushing up on your management and marketing skills can be very helpful. Whether you’re teaming up with a business-savvy organization or striking it on your own, you need to enhance your own skills to contribute to propping up the business venture. For example, if you’re offering online Internet marketing information and training products, you need to know the technical specifications of each product, available options in the market, and how your own products measure up.
Don’t start a new business venture on a whim. You need to assess if people have a need for a certain product or service you’re thinking of offering, and how you can improve it. For example, there are lots of suppliers of online and offline marketing training and information products these days, including personalized ones. You can provide added feature to stand out and attract buyers to your products by offering complementary support and assistance which are often the main reason why prospects would ultimately decide to buy from you.
Having a clear idea of what you want to offer rather than just duplicating what is already in the market, plus an industry overview can lead to small business success. Passion and management skill are both important. Just because you love eating does not qualify you to run a food business. Indeed, there are countless new small business ideas that may appeal to you, and you can ultimately find which one’s the best for you by doing a web search, but why waste so much time and take unnecessary risks when you can easily touch base with an already successful online organization and get most of the ground work already done for you.…

Execute Your Best Small Business Ideas

May 6, 2021 Comments Off

Making money online is very easy yet some people find it very hard. There are many ways to make money online e.g affiliate marketing, information marketing, domain marketing, Google AdSense etc. But article marketing is another money generating system. Online article marketing is a lucrative way to make money online and people are yet to understand the business.
Getting one way links to your website from relevant sites will make you more popular with the search engines. Writing articles, posting in relevant forums and getting listings in website directories can all increase the amount of links to your site.
Of course, viability alone will not yield immediate success with any small business ideas. Solid business plans, marketing strategies, capitalization, and time investments all play a vital role in turning those ideas into successful, realized businesses. However, all the planning, marketing, money, and labor in the world can not make ideas that aren’t viable successful. Keep that fact in mind when you brainstorm your small business ideas!
A goal is essential when you want to reach your destination. To be effective your goal must be specific. Your final goal will be reached via many smaller achievements. Your goal is a destination, and you can’t get there without knowing where it is.
We don’t want to learn how to do something anymore, we just want to be able to do it. We don’t want to just make decent money, we want the jackpot. We want to master money and success. And we want it now.
There are all kinds of ways to make money online. Unfortunately, some of these involve rather dodgy websites that ask for your money before you have any chance of earning anything. Like virtually every area of our lives, the internet is full of scams that you need to be aware of.
It’s very simple really. You write an article and submit that article to free online article directories. It’s easy to do, doesn’t take all that long, and can increase the amount of traffic to your website.
What happened in 2007? People found out that article marketing does work, and now, the competition is really fierce.
Many people have found that when you factor in the financial and the human elements that they need to make money but their family life would be better if they could stay at home. That is where work at home businesses come into such great favor. They are a hybrid, a wonderful compromise between having a job or just staying at home. Even if you don’t have kids, the ability to make as much as you currently do at a job or more but staying in the comforts of your home is your personal piece of heaven.…

Small Home Business Ideas To Make Money Online

November 10, 2020 Comments Off

With the increase in the Internet and a global economy more and more people are looking to make money online. Since other employment avenues are becoming scarce and this is the only part of the economy that is growing – it has become a viable option to replace your job.
In this article we will share with you some tips on how to start you own small home business to make money online.
1. Think different but be the same
In the real world you would be looking to differentiate your product from other competitors. This is true for the Internet as well, and you will need to come up with a point of difference to make money online. However, offline businesses make money when they sell necessities, on the Internet you don’t necessarily need to focus on necessities to get results. In fact products that don’t do so well in the real world, end up making millions on the Internet.
This means to look at your products from a very detailed and deep point of view. For e.g. if you are looking to sell a physical product think in these lines organic pet food, or hamster cages etc. These products would probably not be very profitable as a local business. The Internet creates this a global business and allows you to serve every community that is looking to buy organic pet food.
2. A thousand words are better than a picture
This is one that most people get wrong. We think that a picture is better than a thousand words. On the internet search engines look for content ‘words’ – so it is better for your website to have a thousand words than have one picture there. Remember, content is king.
The more content you are able to create and distribute the better the chances. Think of this like going to a well. The more water it contains the more the people from the town will want to go to it. Or a more modern example – a video rental store, the more movies it has on catalog, the more people it will cater. So the more content you website has the more people will come to your website.
3. Make friends with your customers.
If you go to your local stores, to buy clothes or groceries the chances are that you will probably not know the owner, especially if you live in a city.
However, if the owner came unto you and introduced himself to you and directly offered his services to you, you would be thoroughly impressed with the customer service.
Think of doing online business as the same, you meet your customers every day – become friends with them and take care of them. The more you do this the more they will want to come back to you. And the easier it will be for you to make money online from you small home business ideas.…

Common Cents When Financing Your Small Business

November 2, 2020 Comments Off

“The Best Advice is always free”

Starting a small business requires bucket loads of wisdom. Financial wisdom offered through various media is not always inherently beneficial to the reader and their business.

The foundations for financial excellence are elementary and logical; here is a new perspective on financial insight to starting your small business. Making use of purely scenario planning this illustrated scenario would be a recommendation for all businesses that you intend financing.

The average cost of setting up a franchise and small business in U.S.A. is currently in the $300,000.00 to $ 474 000.00 marks, a sizeable sum taking into consideration the prevailing economic climate and business confidence levels.

Loans or Finance

In order to stimulate the economy, banks are eager to finance new business as this has a long-term stimulus on the economy and contributes to job and wealth creation.

Most individuals do not have the entire capital amount available to finance their new venture and financing becomes the preferred and logical route to market.

Taking into consideration the average price of a new franchise $474 000.00, the average cash portion of financing that particular business would be $ 153 000.00 which includes the initial, cash joining or franchise fee.

This would equate to a financing portion of $321 000.00 or 68% of the initial set-up cost of the business.

From a personal and statistical point of view, the gearing or debt ratio is too high and the minimum recommended debt ratio should never exceed 50%.

Why is gearing so important?

It is nerve-wracking and soul-destroying to build a business for you only to allocate the major share of your income and profits to servicing a loan and the commensurate interest payments. The strain on the cash flow and reserve funds is too great, and the business rapidly becomes a financial risk to the entrepreneur and the banks concerned.

“The Free Advice”

Total Cost

When using the above figures as our reference and benchmark, if the inclusive cost of the business is $474 000.00.

It would be prudent to assume that if shares were offered at $1.00 per share then the business would have 474 000 shares on offer.

Share Distribution

Taking my advice of a 50% gearing or financing ratio, the business when financed by the entrepreneur would allocate to the entrepreneur, 50%(237 000 shares) of the shares currently on offer (The portion he/she has paid cash for)

The remaining 50% of shares on offer would be the right and technical ownership of the banks or financing institution.

The Thinking Motivating This Strategy

As the entrepreneur pays off the loan, their ownership or share-holding increases exponentially.

Goals are easy to set, time and financing permitting the entrepreneur sees his/her goal of 100% ownership as achievable and desirable.

When the bank is essentially a partner in your business the relationship changes, the entrepreneur can take the banks perspective into consideration as they are a valuable share-holder, the logic of having a “you” and “me” approach becomes a “we” approach to the business.

Any extra funds available will inherently go toward servicing the loan on the business.

The Ultimate Lesson

That our thinking and approach has changed, it is a recommendation that one ignore financing by financial institutions and approach friends, acquaintances, and family to finance your business using this share-holding approach. The entrepreneur develops a fiscal policy that is easy to equate and calculate, profit distribution is just as equitable, and the entrepreneur has a clearer indication of the status of the business free of financing and interest costs and charges.…

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