Starting a business can allow you to gain freedom in your life and choice in your lifestyle. If you dream of doing work you love, earning more and creating a working environment that meets the needs of you and your family it could be your ideal solution. Here are 15 rules for starting a business:
It has to be a ‘BIG’ idea that you, your team and your customers ‘get’ in one sentence and a matter of seconds.
When determining your price point, aim to provide at least ten times (and more like 1000 times) the value to your customers. Remember value is what your product/service provides to the customer not what it costs to make it.
In the planning phase make sure you have a reason why customers should do business with you and not your competitor. You need to be unique in some way and offer something new to the market.
Ideally get paid before you provide your product or service. And if possible add recurring income to your business model.
Create your new business around your life rather than having your business dictate your life to you. After all, one of the reasons you are starting a business is probably so you have a better life.
Get your idea out there as fast as possible even if it is not quite ready by setting must hit deadlines. Your market will soon tell you if you have a winner or not. If it isn’t a winner then move on and get the next thing out there and try again.
When finding partners and team members, find people who are strong where you are weak so your skills complement each other
Your reputation is always important. Ensure that you honor your obligations and agreements.
Never ever get paid based on number of hours worked. Always get paid on achieving a goal, completing a task or providing a good.
Know from the outset that you will never have a perfect business and you will never be totally ‘done’.
Provide a meaningful guarantee with whatever you are selling. This takes away the risk from your customers and will lead to more sales. If you can’t guarantee what you are providing then maybe you should not be selling it in the first place.
Develop and build your business personality that stands out. People want to buy from people not from corporations. Just look at Steve Jobs and Apple.
Go the opposite direction to where your competitors are headed. You will stand out, have something unique and more than likely have more success. If you want average results do what average people (and competitors do). If you want outstanding results do the opposite of what most people (and companies) are doing.
Make your business fun and also doing business with you fun. If you are not enjoying life and your business then stop and do something else.
Above all, make sure you have a life. Business and making money are important but your life is the sum total of your experiences so go out and create experiences. Create adventures. Do something new. Then come back renewed, inspired and ready for the next big thing.
These 15 rules on starting a business are maybe not the typical ‘rules’ you see around. But do not dismiss them because of their simplistic and general nature. If you already ‘knew that rule’ are you actually implementing it? Go back and re-read the article. Stop after each rule and actually think about what it is saying and how you can incorporate it into your business. If you do this the results will be profound! If you go to the effort and commitment of starting a businessthen make sure it is a success.…Read more
Do you have a skill or hobby you like to do, but have never had a business before? Would you like to learn how to start a business in your local community that fills a need in your area? Have you now graduated or still going to school part-time? It is a possibility, a good idea, might help local people and may contribute to your future! Then follow these simple steps:
1. See if any other businesses are providing the hobby/service you have in mind. What types of businesses exist? Are they locally owned? Are they franchises? Is there more than one business? Is there a business that has part of their business provide this product or service? Find out what advantages you may provide to these others? Check out how they provide their service? What prices do the service/products cost? If it viable maybe it can be done, if not maybe you can work in one of these businesses?
2. If there is a possibility it is viable then check with local town offices and chambers of commerce to see what information you can find out about running such a business. Try and get some statistical information. Find out what supplies you need. If you can’t find any information locally, check your state website. If this is not enough information check out your national resource site.
3. Once you have some viable information you should put it together in a business plan.
4. Next find out if you can get some information on funding your venture or how you are going to acquire your product or service through loans, leasing and shipping terms.
5. Start testing out your service with family and friends, focus on friends and friends of friends and get referrals written down or emailed to you that you can share with others to build you business.
In closing you can start a small business in your local community with the right resources, connections and help from local government or business referral assistance sources.
All the best, and happy adventures, you may never know where it leads you to or who you may meet and the stories you will learn from others. This is just a basic outline and tips, there are numerous resources online and in your local community.…
Evolving Web 2.0 Tools Make Branding a Reality For Anyone
One of the challenges to starting a business from home is advertising. That is why network marketing has been a popular way to get into business for oneself. The cost of advertising is replaced with sweat-equity. Instead of taking out an ad a person could become a walking billboard for a company or product.
Advertising has long been difficult for the small business person. Large companies spend many millions of dollars branding their names in people’s memories. So when it comes time to buy, these companies hope the customer will think of them.
But how does the small business person compete with that? How can anyone brand themselves without spending huge amounts of money that may never be recovered? Especially if this person is just getting started and is forced to build a business on a shoestring. The answer…
We all know the internet has been around for a while. But its recent evolution is making it very feasible for anyone to brand themselves in a particular niche while spending very little money.
This is a dream come true for the small business person.
Now anyone can target a niche and brand themselves as an expert in that niche while spending very little money. How is this possible?
Software developers continue to create tools that require absolutely no technical knowledge to use effectively. You can simply drag and drop items and create professional looking web pages, blogs, and other social networking pages. And you can write articles that ezine publishers will use including a link to your site or blog. You can create informative videos and broadcast them for free.
This is wonderful news for the home based business owner. But as great as all this is, keep one thing in mind…
You Need More Than Tools to Be Successful When Starting a Business from Home
Great as they are… they are just tools. They are free (or very cheap) and easy to use. They are powerful when used properly. But they are just tools.
The real power is in what you do with them. And it all hinges on identifying what people really want. Simply taking a sales message to the internet is your weakest option. As suggested above, your best option is to use the available tools to brand yourself as an expert in a particular niche.
Because that is want people are looking for… experts.
Products and services are means to ends. People really want solutions to their problems. And better yet – they want experts who can help them solve these problems.
Your biggest opportunity for building a home based business is to brand yourself in the eyes of thousands of people as the one expert they want to follow in solving certain problems. The tools help you do that in a marvelous way. They help you get the message out.
But you still have to have a message. What is that message?
It is YOU.
Because of shifts in the economic climate, more and more people are looking to enter the work from home industry. And they have questions.
“How do I do it?” “Where do I begin?” “What business should I start?”
They are looking for leaders who will help them succeed. And this opens doors for those who are willing to supply this leadership. Perhaps even you. Maybe you are – or can become – the leader they are looking for.
That could be your home based business.
If that scares you a bit you need to know that it isn’t as difficult as it sounds. You just need some training yourself to become a leader in a particular niche. You need to learn how to do something well that will help a whole lot of people build their businesses.
And you need to brand yourself as a leader and expert that they can trust.
Once you do this you can learn the tools. You can use them to get the message out. And you can be the leader a lot of people are searching for.…
Outsourcing is the process of contracting with a third party and is often called sub-servicing. This contracting is usually performed in-house to an external provider. Therefore two companies will enter into a contractual agreement generally involving an exchange of services and payment. One problem that has arisen in business today is the ability for companies to outsource to supplies outside the United Kingdom which is commonly referred to as offshoring or offshore outsourcing. There are also other words relating to outsourcing such as strategic outsourcing, nearshoring and multisourcing.
Companies usually get involved with outsourcing when wanting to have the benefits of certain things or address specific issues that may arise. Cost savings which is the decreasing of costs of services to the company can be done through offshoring. This involves outlining quality levels, re-negotiation, lowering the scope, cost re-structuring and re-pricing. Often companies outsource their IT support to specific companies that are experts in IT services, which shows the focus on core business. Outsourcing helps with cost restructuring which changes can offer a move from fixed costs to variable costs which makes variable costs more foreseeable. It can improve quality of service through contracting out the service the company has provided and as well improves knowledge through access to intellectual property, and wider experience.
Outsourcing enables a company to focus on what the company specialises in, become more cost effective, be flexible and manage and maintain the growth of the company sufficiently. It enables the company to gain access to other companies technologies and expertise. If outsourcing is managed productively, it can really assist a company to reduce costs and develop effective ways of using knowledge and resources from other companies. However, a company must think about whether the advantages of outsourcing will outweigh the costs of the outsourcing process. It is important that the outsourcing process is properly managed and monitored and that anything done to the company will reflect directly on the company.
Outsourcing is very common now for companies outsourcing non-strategic or complex tasks to enable admission to the best practices and new technology. Outsourcing will mean that the company will benefit from businesses economies of scale and investment in expert employees whilst still concentrating on specific business activities. Outsourcing endeavour such as payroll, secretarial services and recruitment will give a business entry to specific skills, but will only be paid for when you need to use these services. You could even outsource for non-business tasks such as catering and cleaning.…
Today is a time of great business opportunity. no other time since the beginning of the industrial revolution have individuals been offered so great opportunity to pursue independent business opportunities.
I can hear what you might be thinking, “Are you absolutely insane? I don’t know what planet you live on, but here on Earth in the United States we’re experiencing the worst recession since the 1930’s. We have 10% unemployment (17% if you calculate those who have stopped looking for a job or taken involuntary, early retirement). We have historically high business failures and mortgage defaults. Every day we hear about people right in our own neighborhoods losing their jobs and their homes. So what opportunity are you talking about opportunity mister? The opportunity to go broke?”
No, I’m not nuts or delusional. The opportunity to start your own business is real and it’s never been less expensive to do so. I believe America’s future lies in small, decentralized businesses involved in a variety of markets. The opportunities include a wide range of professional skills and specializations. To take advantage of these, all that’s needed is a PC, a telephone, and Internet access. You can run your business from anywhere, in the comfort of your home to your local coffee shop. The potential market is huge and for the first time ever, businesses as small as one-person operations can participate in global commerce.
Virtually anything you can do in an office job, you can do online. Consulting work of every type as well as most forms of sales, teaching, tutoring, counseling, advising, accounting, representing, marketing, engineering, writing, research, legal work, and retailing can be done either online in a home-based or in a small business office. All that’s required is imagination, courage, positive foresight, and the willingness to risk some time and energy on a new, unproven venture.
Despite what the pundits think, I believe America is bankrupt only in terms of the loss of our “can do” attitudes, our pioneering spirit, and the ability to imagine a bigger, better future. Many of us seem to be stuck waiting for a rescue. We’re waiting for our economy to magically improve. We’re waiting for the government, Wall Street, big business, or the housing market to lead us out of our economic malaise. The solution, however, does not lie elsewhere. The solution is in our own hands.
All we need to do is change our attitudes. We need to stop waiting to be rescued and instead we need to begin a proactive search for our own unique opportunities to flourish. If you don’t have a business, start one this year. Even if you are working a full time job, think about what you can do part-time during your time off.
Instead of worrying about your job and future, do something TODAY that can supplement you present income and perhaps may become your big opportunity. Nothing you can do? HOG WASH… you’re just not thinking hard enough! Think of all the possibilities. Think in terms of your knowledge and experience. Think about how your hobbies and pastimes may be offer potential business opportunities.
If you are already in business for yourself, consider extensions of your current products or service offerings. I run a sales and marketing consultancy. My primary business is ad and exhibit sales representation. The future is in electronic marketing, so I have started the process of educating myself on new the media and electronic marketing. I have acquired a new client that produces iPod and Webcasts and will be selling sponsorships for them starting in just a few weeks.
Although extensions of your present business are probably the best sources for expansion, you can also start an entirely new business based on your hobbies or interests. For example, a CPA friend of mine started an online energy drink and supplementary food business for cross country bicyclists and runners. He started the business purely by chance.
My friend Bill is an avid cross-country bicyclist. He and fellow cyclists regularly go on 100 to 500 mile treks. These grueling rides demand high levels of stamina and energy. Bill found a number of energy bars and drinks that are helpful. However, they are sold in very few specialty stores that are not close by.
He sought alternative online suppliers. The online suppliers also offered additional products also not available in stores. Bill purchased them and shared them with fellow cyclists and other friends involved in aerobic sports. Friends began to ask him to buy these products for them as well. This triggered the idea to start an online sports energy food business. He has been doing this business for more than five years and although he doesn’t make enough to quit his day job, he certainly earns nice supplemental income.
I have another …
It seems that a lot of people want to own their own business. The dream of entrepreneurship is embedded deep within our psyche. Everyone hopes they can be the next Bill Gates or Sam Walton. The real truth and real probabilities are far from those dreams.
Very few people have the knowledge, perseverance, and financing to be in business for themselves. That’s the simple truth. It takes time to build a successful business and you must be able to support your family during that process.
Being successful in a new business takes a specialized knowledge that will set your enterprise apart from the others. It also takes a lot of hard work and long hours to fully reach your potential. Only a tiny fraction of people that start their own business are able to be successful enough to actually earn a living. Only a very few will be in business for at least five years. The odds are definitely against you.
But if you do have what it takes, by all means go for it. Be sure to have a good plan of action, plenty of patience, and have adequate capital to carry you through the lean months. It usually takes twice as much investment as you initially figure, so be sure you have a contingency.
Only if you have a product or service that is not available anywhere else, or has some feature that makes it stand out from the crowd should you pursue your business opportunity. However, if you are selling a product or service that is basically the same as everyone else, without any special attribute or angle, you should save yourself a lot of time and money and keep your day job.…
More often today than ever before, people are realizing the dream of earning a living at home and firing their bosses for good. The internet is making this possible for both savvy business people and new entrepreneurs. The truth is that anyone can make a living on the internet if they have the right information and are willing to work hard now for a payoff in the future. Starting an internet business today is a great way to achieve financial freedom tomorrow.
There are some important rules to follow when starting an internet business and people who know and understand these rules will always do better than those who don’t take the time to learn them before venturing into the land of internet business.
When starting an internet business, especially if it’s a first online venture, the most important thing one can do is to learn from those who have already been a success on the internet. Becoming successful on the internet has required a lot of trial and error for a lot of people, but it doesn’t have to anymore. Many people who have been successful in starting an internet business now help others do the same thing they have done. People who invest in their business by seeking out help are far more likely to succeed faster than those who enter the world on online business blindly.
Another rule to follow when starting an internet business is to set aside time every day to work on your business. This can be difficult for those who work a full-time job and have other obligations, but taking time every day to do something to further an online business will ensure success in the long run.
When starting an internet business, it’s important to understand that patience is key. Things don’t always happen overnight and getting a business off the ground can be hard work. The key is to remember the reasons for starting an internet business in the first place. Keeping those goals in mind will help to keep the online entrepreneur motivated during the start-up process.
Another great rule to follow when starting an online business is to learn from mistakes. Savvy internet marketers and business people learn from their own mistakes, but they also learn from the mistakes of others. Taking the time to learn what’s worked and not worked for other people can save time and money. Investing in an online business by taking courses and reading books is a great way to avoid many of the pitfalls associated with this type of business.
The bottom line is that starting an online business is a great way to make money. Many people have realized their dream of making their own schedule and being their own boss. Anyone can reach this dream with a little bit of hard work and by utilizing the information provided by those who have already done it.…