The past few years have been difficult for many Americans. Jobs have been lost, the future is up in the air, and unexpected changes are all around. The one great outcome of hard times is that we tend to reevaluate what is important and take steps toward creating the life that we want. Of course, having plenty of cash can make big changes easier to accomplish, but being broke is no excuse for complacency. Even if you are struggling financially, make 2011 the year that you take back control and make some big moves in the right direction. Here are a few ideas to get you started:
Design and Plan.
Take a good look at every area of your life – work, health, hobbies, family, whatever – and create a picture of how you’d like your future to be. Think big, as if there are no obstacles to getting what you want. Talk your ideas over with your spouse and close friends and family, but avoid the naysayers and negative nellies – you don’t need to hear all the reasons it can’t work right now! Once you have decided who, how, and where you want to be, develop step-by-step plans for getting from here to there. The more detailed the plan, the better, and be sure it includes steps that can be implemented immediately. Organize your plans so that you are doing something every day that moves you in the right direction.
Make the tough decisions.
The odds are that the exercise of connecting where you are now to where you want to be is going to reveal some serious obstacles. Whether those obstacles are financial (debt, income limits), personal (relationship issues, lack of support), or career-related (hate your job, lack of control), you are likely going to have to make some tough decisions to affect real change in your life. Those decisions might include bankruptcy or moving or taking bigger risks than you normally would, but they must be made to get to the life you want. Be honest with yourself about what needs to be done, then make the decision and go after it. Most of these things are like pulling off a bandaid – if you jump right in it will only hurt for a little while.
Do good.
One of the best things you can do to put your own life in perspective is to help out those less fortunate than you. Whatever your situation, there is always someone who is worse off and could use your help. Volunteer through a local nonprofit or church and spend a few hours each week doing good. Not only will you feel better about your own life, you will be helping out those who really need it as well. And, if you skip the movies and volunteer instead, you can save up your entertainment budget to put towards the parts of your redesigned life plan that require cash!
Knock off the To-do List.
Most of us have a ridiculously …
Starting a business is an invigorating experience. Taking a new idea and converting it into viable business proposition is exciting as well as demanding. Working out a marketing strategy and selling to the first potential customers contains enough highs and lows to fill your experience bank for a decade. If it wasn’t exciting and challenging we wouldn’t be doing it would we? And especially in the early days when we’re often working long hours for next to nothing.
Probably the only thought we give to money at first is the amount we hope to make! Yet it’s that lack of attention to the detail of the business finances that trips up so many entrepreneurs. If money isn’t controlled, measured and accounted for accurately then even – maybe especially – growing businesses hit the cash flow buffers long before they reach the point of being profitable. So, if you don’t take care over the boring financials and find a good accountant to help you, then your dreams may end up accounting (pun intended) for nothing.
So make sure you think about how to keep your financial records before you start. Ask for advice and set up a system that works in your business, both to enable the VAT returns and annual accounts to be prepared as well as to ensure you can keep a check on the numbers – who owes you money, who needs paying and how much profit you are making. It’s almost always a mistake to leave this until the business has been trading for a while. We are talking about ensuring that crucial information is regularly available so why not have it from the start, particularly as it will cost you more to sort out the mess later on.
If the business is small and likely to remain so then you may be able to run it on a spreadsheet. But beware of just creating one yourself. Any accountant will tell you horror stories of spreadsheets that have been deeply flawed and often dangerously so. If you are going to use a spreadsheet then make sure it has been thoroughly tested and accurate in what it reports. If it’s just a list of entries with no categorization then it will be of limited or no value.
Accounting packages come in all sizes and cost but they all tend to do the same thing. In the end they have to be easy to use (or you won’t) and easily readable by whoever is completing your accounts. Make sure you test it properly before you purchase and get a professional viewpoint on its suitability for your business. There are plenty of good online packages too which are worth checking out.
Good, professional tax and accounting advice at the start of the business ought to be able to save you money initially and set you on the right course with effective systems to provide you with the information you need to know exactly where your business is and to plan …
It’s very simple. Let’s just put it this way and I’ll use myself as an example. When I was a little kid, Bruce Lee was the man. With Bruce came a flood of Kung-Fu movies. So guess what I wanted to be? That’s right, Mr Kung-Fu fighter. Being born and raised in the mean streets of the Bronx (New York City) I did have plenty of practice, I also did join a few martial arts schools in my neighborhood. However, most of my fighting skills were learned in the streets and I did get very good with my hands, so I thought.
As I grew older, now an adult, this passion for the martial arts remained deep inside of me. So I joined another local karate school. On Friday evenings we would put on the fighting gear and I would do very well against the other white belts in my class. On one weekend, the Dojo (Karate school) had a special class and a bunch of blacks from New Jersey, upstate New York and Connecticut would visit, train and fight with our Dojo. So my teacher allows me to join this event. All I can say is that it was like getting beat up by every great fighter that you can think of. The bottom line is that I thought that I was going to float like a butterfly, but instead I saw butterflies and stars doing circles around my head. It took me five years of training, hard training, before I could stand up to these men and women.
Question, what belt are you? When it comes down to the internet online business world. How much do you know? The reason I ask this is because many of us come in with unreal expectations. Fueled by the people that are getting us involved in these home based businesses. And you can’t blame them. They’re just doing their jobs. Does a car sales person care about how good you can drive? No, his job is to sell you a car.
So, if you think that just because you can type a million words a minute or that you’re a great sales person. That you’re going to be an overnight success. Wrong, I don’t think so. Because just like me at the Dojo, I had to train long and hard, five, six and even seven days a week. Even though I thought I knew how to fight. I was dead wrong. It took me five years and a whole bunch of lumps to achieved my first degree Black Belt. And that was just the beginning.
Black Belts, Internet Marketing, starting a business it all takes a lot of work, dedication and perseverance to achieve success in whatever it is that you want to do.…
This article is meant as a practical outline for starting a web/world based business from someone in the process of doing so. I started to put a merchandising business together about a month ago and assumed that a presence on the internet was a necessity. The first thing I did was to research tax laws and file a DBA (“doing business as”) in the counties clerk’s offices where I anticipated doing “physical” business. The tax laws for an individual doing business “under an assumed (business) name are simpler than the more complicated corporate tax laws. Filing the DBA legally establishes you under the business name chosen. At each step from here you need to ensure compliance with manifold regulations, such as permits and licenses for your activities if you wish to sell things in various venues.
Next, you need to ensure the production of your product. This depends on what you produce. Keep record of all your business related expenditures and income. Do not do this in an electronic database only. Keep hard records!
When you have or are close to having a product, you need a website. You should look up “web hosting services” and compare reviews and rankings from those who have used them. Good customer service is essential with a web host. For a small business, you may want to use a shared server or a “VPS” (virtual private server), which costs a bit more. You need to either build the site yourself with software provided by the host or chosen from the marketplace (varied options) or hire it out. It depends on the scope of your site, but inquire about building it yourself as this can be cost effective and more fun. You will need to configure your e-commerce setup by providing online payment services. You can use Pay Pal, Checks, or Credit Cards as a few possibilities. Credit Card processing generally requires a merchant account with Visa/Mastercard. This can be an involved process. Once you are online, you need to promote your site. While there are tricks to web programming (search engine optimization) that make your site accessible, traditional real-life contact is indispensable where you share your name and website while building a rapport with the customer is just essential to a startup business. I am now at the point of marketing and advertising. Best of luck with your own start-up business.…
I remember the conversation vividly. An entrepreneurial couple came to me for help because of a chronic problem with late payments from clients and the impact was, of course, their own financial struggle. I listened to what was happening and suggested they change their business model to require payment up front.
They said “Oh we couldn’t do that – no-one would pay us up front. No-one in our field does that.” I asked why and they didn’t really have a good reason other than being afraid that they would lose business if they asked for payment up front.
What I suggested next, however, brought on an immediate gasp and even more fear. But in fact, when they got past that fear and implemented this strategy, they easily got payment up front AND converted more prospects to paying clients.
The answer was to require payment up front AND include a guarantee. The word “guarantee” for some reason, makes a lot of entrepreneurs fearful. They are deathly afraid that if they offer an guarantee, they will end up refunding money to client after client.
But in fact, that’s just a fear. If you are 100% confident in the product or service you provide as a small business owner, offering a guarantee should be a no-brainer. Here’s how:
Guarantee the results:
If you have a track record of proven results in business, and you are confident in your ability to help your client achieve the result, then there’s no reason you couldn’t guarantee that result. One of my clients is a makeup artist. Having done hundreds of brides, she was confident in guaranteeing natural, flawless makeup application that lasts throughout their wedding day. That’s a result her clients are always looking to achieve, so it was a brilliant focus for her in converting prospects to clients.
Guarantee the service:
If service is of high importance to your client, it could very well be the thing to focus on in your guarantees. It can be the level of service you provide. For example, you can guarantee that your client will always get a response from you within a certain time frame.
Guarantee the experience:
Depending on the type of product or service you offer, you can also guarantee the experience your client would have. It’s similar to the service guarantee, but focused on what your client would experience after having done business with you. For example, if your clients tend to be afraid of the hassles in your industry, you can guarantee them a hassle-free experience.
Guarantee that they’ll be fully equipped:
For some services that depend on the client’s commitment to taking action, it may not be possible to guarantee the results. That’s because you have no control over how much action they take. However, you can certainly guarantee that they will walk away with everything they need to achieve the precise result they were seeking. For example, when I do a live workshop, I guarantee that my attendees will walk away with …
The latest figures show the unemployment rate in the US is topping 10%’s one in ten people out of work! And, the future isn’t looking particularly bright. Recent reports estimate the lack of work will continue through 2011, at least. You can’t sit around and wait for big business or the government to turn the economy around, so it’s pretty much up to you to take control for yourself. How can you get your financial life back on track? Put yourself to work!
Starting a business of your own is the best and only way to take complete control of your work life. Working for yourself means no layoffs, no wage freezes, no begging for a day off, no hoping that the big bossman will grant you a meager year-end bonus. When you work for yourself, YOU set your income goals and work as hard (or not) as needed to reach those goals. YOU develop a company culture that fits your personality. YOU establish your own work hours. And YOU decide when it’s time to grow.
Of course, starting a business requires a good bit of time and effort, but at least the work you do is just for you. When you want to earn more income, you put in more work. When you want a little time off, you take the time you need. Because it’s all on you, you will do the work to control the risks and because you are taking control of your worklife, you are more likely to stay motivated.
For many new entrepreneurs, the toughest part of independence is taking the first even figuring out what that first step would be. If you’re just not sure where to start, start here:
Define Your Goals
Take a look at where you are now and where you want to be. Write it all down and cover all areas of your life.
Make the Tough Decisions
If you are drowning in debt, decide how to handle it. If you hate your job, set a deadline to make the change. If you don’t have any startup cash, figure out how to raise it. Look at the gap between where you are and where you want to be and create a concrete plan to close up that gap. If it seems like it will take forever, don’t let that bother you. If you start today, you are one day closer to where you want to be!
Pick a Startup
Brainstorm business ideas, find a modified version of your own big idea, talk to your friends and family about startup opportunities. It really doesn’t matter where you start with your independence, just that you get started. Most wildly successful entrepreneur change direction a number of times before landing on the perfect opportunity. And, more opportunities seem to appear once you’ve taken the first step.
Educate Yourself
Entrepreneurship is its own separate profession. Becoming an expert requires that you learn the fundamentals of a bunch of other professions, including accounting, marketing, …
Starting your own business can be an exciting investment. Whether your business is your passion, or just a genius plan that you developed, it is important to know the facts about starting a business before you invest. Many people have misconceptions about what starting a business entails. In order for your business to have a fair shot at success, you should be aware of what to expect. To help clarify things, we’ve compiled a list of myths and facts about opening a small business.
Myth: If all goes well, my business should start turning a profit in 6 months.
Fact: The sad truth is that even successful businesses do not start making a profit until several years after start-up. Because overhead costs for most businesses require large loans or investments that must be paid back, even a booming business will not make a true profit until all the initial start-up costs have been paid off. Typically, a successful business will begin generating pure profit after 2 to 3 years.
Myth: The government gives out special grants to small businesses.
Fact: This is just simply not true. There are no federal grants that go directly to small businesses. The best way to pursue financing your business is by contacting your local Economic Development Corp (EDC) office.
Myth: I can pay myself as much as I want!
Fact: Unfortunately, this isn’t part of the deal. While you theoretically could pocket large sums of money at the beginning, you will most likely only be hurting yourself in the long-run. Most of the money that comes in should be reinvested in the business, or used to pay off expenses. Even if your business has been booming for a decade and all expenses have been paid off, the IRS includes a clause that does not allow a business owner to pay themselves an “unreasonable compensation.”
Myth: My product/service will sell itself.
Fact: This is a very dangerous attitude to have when starting a business. Products do not sell themselves. Marketing is a crucial component to any business’ success, even if your product/service is the best thing to enter the market since sliced bread. Talk with a marketing professional who can assist you with building a website, creating a logo, printing business cards, and spreading the word about your business.
For more information about business law, consult the Texas business attorneys at the law office of Slater, Kennon & Jameson, LLP.…
Starting an internet business can be tricky and as anyone who has become successful online can attest, making mistakes is a part of the process. In order to reach success online, there are going to be some failures along the way. How someone deals with those mistakes and failures is going to determine whether or not they will ultimately reach success in their venture.
One of the biggest mistakes that many people make when starting an internet business is not taking the time to learn everything possible before getting started. Making a living online is much different than making a living in any other way. There are a lot of people who have found a great amount of success when starting an internet business. Learning from those people can help new internet business people to avoid many of the other mistakes associated with online earning.
Another mistake that people make when starting an internet business is to ignore the huge benefits involved in social media. Internet marketers who don’t involve themselves in social media are missing the boat. Social media has taken over the internet – one only has to look at statistics for sites like Facebook and Twitter to understand just how important these types of sites can be to the success of an online business. Taking the time to learn how to leverage sites like this from someone who has already done it is a great idea when starting an internet business.
Not having a comprehensive marketing plan is another error that many people make when starting an online business. Just like in offline businesses, marketing is key to overall success. Online, there are even more websites and businesses that are clamoring for the attention of customers than in the "real" world. Creating a marketing plan that works and sticking to it is crucial in the overall success of any online business.
Giving up too quickly is a huge mistake that people make when starting an internet business. Becoming a success on the internet will take time and it will take some hard work. For most people, it’s fun work but it’s not always easy. Giving up before a business has had a chance to succeed is quite possibly the biggest reason that new businesses fail online.
Failing to get involved in an online community of like-minded people is another common mistake when starting an internet business. No one is an island and making a living online can be a lonely place if there is no one to talk to and get advice from. Smart online business people find a community of like-minded people to talk to, share concerns with, and get advice from. This can make the difference between loving the online world of earning and giving up in frustration.
Starting an internet business isn’t the easiest thing in the world to do. Everyone is going to make some mistakes along the way. How someone chooses to deal with those mistakes will determine their success or failure …
If you are thinking of starting a business online then it could be one of the best decisions you ever make as long as you are prepared to work hard and learn what is required and don’t treat it as a get rich quick scheme because it isn’t. Making money online is feasible for anyone willing to learn, and the earning potential can be huge for those who do it well.
There are a few methods you can use to start and run a successful online business without spending much money. Most, if not all online businesses will have a website of some sorts. A good place for you to start with this would be for you to get your own blog. You can set up a blog very easily and for free through sites like and . A blog can provide a perfect platform to base your online business around and to sell products from.
Social networking sites such as Twitter and Facebook are becoming very powerful tools for online business owners to use. You can brand yourself and quickly develop a large following if you use these sites correctly and they can help you market your business very effectively.
Article marketing is another effective method of building your online business. If you are able to write a quality article of around 400 words about a subject that people are interested in then you will be able to make some money using this method. By placing a link at the end of your article then you can drive traffic to anywhere you want such as your Blog or a product you want to sell.
Affiliate marketing means to sell somebody else’s product from which you will earn a commission. You do this by creating an affiliate link to the product you want to sell, in that link will be a code that is unique to you so when somebody buys through that link you receive them commission. You can use your blog to put your affiliate links on and use article marketing to send people to your blog.
These methods are incredibly affective and are used a lot by successful internet marketers every day. They are easy to set up and the whole process is quick to learn and implement.…
“I’m going to do it. I’m going to start my own business.”
Chances are you said that or something like it at some point in your career. And here you are, a solopreneur with your own company, reaping the rewards of having control of your own career. Ain’t it great? Or maybe not so great? Perhaps things aren’t quite how you had pictured them. Or it’s taking longer than you thought to get traction. Or there are loads of tasks and decisions that you have to attend to that you hadn’t anticipated.
It is pretty common for a different reality to hit us once we take the leap into solopreneurship. Often it’s a deep passion that motivates the transition, and with our heart leading sometimes the head needs time to catch up. Too bad this isn’t all there is to it.
In all the years that I have been a solopreneur and I have coached solopreneurs, there is one obstacle that keeps cropping up. No matter who, no matter what, no matter where-this obstacle is the single biggest hindrance to the forward progress of the solo business owners around the world.
In short, the biggest obstacle to your success . Not you, the person who believes passionately in your business and who is willing to do whatever it takes to be successful. Not you, the one who knows you can do it. I’m talking about the part of you whose beliefs will keep you spinning your wheels or taking two steps back for every three steps forward.
This is the part of us that I call the Starving Artist.
The Starving Artist whispers things like this in your inner ear:
You have to earn your success, and it takes time to do that.
It’s going to be hard, but stick to it and you’ll get there eventually.
There’s no gain without pain.
Suffering is what brings out your creativity.
Let go of your suffering and you’ll lose that creative spark.
Money corrupts, and wanting to make a lot of it is not a noble goal.
Any of that sound familiar? Essentially, the Starving Artist embodies all the limiting beliefs you have about your own knowledge and abilities. They may have come from parents or teachers, from siblings or peers, or from decisions you made about yourself and about how the world works. Wherever they come from, these beliefs will sabotage you and the growth of your business.
What does your Starving Artist say to you? If you have a hard time answering that, try this: What repeating patterns in your business have held you back? Here are a few examples that indicate the influence of the Starving Artist in your business:
Your only clients are people who can’t pay your standard fees or who pay really slowly after a lot of follow up.
You seem to have a portfolio comprised only of “difficult” or high-maintenance clients.
Every time you have a big, exciting success, it is followed shortly by something …