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Starting a Small Business: Pros and Cons

There are excellent reasons to start a business — and, of course, there are other excellent reasons not to. This is why it’s important to weigh the pros and cons for yourself, as your situation is unique, and advice that worked for one entrepreneur’s business may not be applicable to your own.

Let’s look at the general pros and cons of starting a business.

Starting a Small Business: Pros

Being your own boss has quite a few perks, as we will learn below.

Job Security: When you’re the boss, you’re never in danger of being fired.

Decision-making Power: If you decide to make any changes in your small business, there’s no one above you to tell you you can’t, and little to no red tape when it comes to implementing those changes.

Retirement Value: Building a successful business and then selling it at the end of your career can give you a boost in your retirement funds (in addition to the 401k many business structures allow you to open).

Self Fulfillment: Working for yourself gives you a sense of pride in your work, allowing you to feel personally and professionally fulfilled. You are the master of your own destiny!

Community: Owning your own business and putting down roots gives you a connection to your local community in a way that being an employee does not.

One important thing to keep in mind is that the fulfillment, security, and stability your role as a small business owner can bring you comes to fruition only with hard work, dedication, and perseverance.

Starting a Small Business: Cons

However, starting a business is no walk in the park. There are cons to starting your own business as well, which we’ll discuss below.

Financial Risk: Starting a small business involves some amount of startup capital, which will require you to find investors, take out a loan, or dip into your own account — neither of which is without its risks.

Workload: It’s been said that the decision to become an entrepreneur is not simply a career, it’s a lifestyle. This couldn’t be more true; if you believe that you’re going to confine your role as a small business owner to 40 hours a week, you’re in for a surprise.

Slow Initial Business: Statistics show that most new businesses do not begin to recover their investment for something like 2 years after they began. Are you prepared to go without an income during these uncertain times?

Decision-making Responsibility: Great for letting you make your own decisions on products or pricing; not so great when it comes to reprimanding or firing a friend or turning down a family member.

It’s clear that the decision to start a business or not to start a business is one that must be made carefully and thoughtfully, with family and future in mind, in order to determine if it’s a decision you’re prepared to follow through with and help through the rough patches.

With hard work and determination, your business dreams can become a reality!It appears that your web host has disabled all functions for handling remote pages and as a result the BackLinks software will not function on your web page. Please contact your web host for more information.…

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Keys to Wealth When Starting a Business

Getting rich is the number one goal of people thinking about starting their own business. But what are the actual factors that launch entrepreneurs from struggling startup to lifelong financial security? Here are a few ideas to keep in mind if your startup goal is to make yourself rich.
Work for yourself
It is very difficult to become wealthy working for somebody else. At the end of the day, employees are another business expense that must be controlled, and there is little motivation for the guy holding all the cards (and all the risk) to pay you any more than the minimum required to get someone to do the job. Working for yourself takes back control over your work life and financial future. If you want more money, you can do what needs to be done to increase your income.
Carry no debt
Debt is a wealth killer, both for a business and for your personal life. Paying interest is like flushing your cash down the toilet. Run your business and personal budgets on a cash-only basis, at least during the early stages of startup. Be stingy with your money and pay attention to fees and interest on any credit terms you are extended. You’ll be surprised how much better the cash flow looks when you are not wasting money on debt fees!
Develop multiple income streams
As long as you are taking responsibility for your worklife and financial future, you might as well throw as many hooks in the water as you can handle. Whether you develop multiple income streams through a single business idea or you pursue several opportunities at once, the more chances you have of making a profitable sale, the more likely you are to succeed.
Learn the numbers
Whether you consider yourself a numbers person or not, you will need to understand how to look forward and back at the numbers to make the best strategic decisions. Accounting is the primary record of where your business has been and those results are used in financial ratios to determine the present health of the company. You MUST understand how these systems work so that you can identify problems and opportunities as they come. And, you must be able to develop strategic plans based on viable financial projections. Don’t leave these critical tasks to anyone else. The bottom line in business is making money, and you need to have a firm grasp on what all those numbers mean to you.
Balance your priorities
Be careful of devoting ALL of your time and energy into the business, especially as the venture grows and develops. Don’t be afraid to delegate when the time comes, because blowing off other important parts of your life can be financially devastating. Basically, that’s a PC way of saying divorce is so are health problems. Take care of your whole life on the path to wealth, or you might well find it all up in smoke when you least expect it.…

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Many Entrepreneurs Take Calculated Risks

It takes a lot of courage to quit your job and run up your credit cards just to start a business. Some people would even say it’s downright risky. This is all before you even know if the business will be successful or not.
It’s normal to be risk averse. It usually means venturing out of your comfort zone. Most people like staying their comfort zone. Entrepreneurs can’t stay there. They have to take some risks.
A person’s risk-taking potential is influenced by several factors, including their environment, genetics, and their past experiences. What gives one person a thrill might make another run for cover. Some adrenaline junkies out there are hard-wired to take risks. You see them climbing up the sides of tall buildings or jumping out of airplanes. Most people will take small risks if they know there is going to be a good payoff on their investment at the end.
We all have an enzyme in our brains called monoamine oxidase (MAO). This is what keeps our impulses in check. People who have a shortage of it are more likely to be risk takers.
So, to answer the question about whether entrepreneurs are risk takers… it depends. Are you someone who always chases after the “get rich quick” schemes? Are you the kind of person who takes calculated risks to make your business better? If you don’t take some risks, you’ll never know your true potential. In that sense, all entrepreneurs are risk-takers. It just depends on the degree.
You can’t be stuck in neutral for fear of making the wrong decision. You might miss the best opportunity out there.
Entrepreneurs have to make decisions every day. Make the right decision and you could become very wealthy. Make the wrong one and you could become bankrupt. It’s enough to stress out the calmest of us. It’s always going to have some uncertainty associated with it. If we could predict the future we would all be rich.
A good entrepreneur will learn from the bad decisions and correct them quickly. They will also be less likely to repeat the bad decisions. And they will learn to trust their gut to figure out the right path.
Copyright (c) 2010 Julie Austin…

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Want to Know How to Start a Business?

How To Start A Business
Ever dream of being your own boss? Believe you might have what it takes to set up on your own? Don’t dream on!
There’s a reason why you have been looking for information on How To Start A Business. Maybe there’s an idea you’ve been kicking around for a while. It could be anything from running a corner shop or setting up a small community enterprise with a friend – to spotting a brand new business opportunity with a product or service no-one else is providing. You can!
The very first step towards starting your own business needs to start with you. You and your business are intertwined. Your business reflects you and your personality, skills and approach to life; your own personal objectives drive your business objectives. For success you need to be confident, focused, those attributes of entrepreneurs that you read about.
But you can’t just jump right in and launch any old business. The market these days are so saturated with everyone trying to make some extra money. Redundancies being made left, right and centre, so people are using their skills to set up small businesses and offer their service to the targeted market which means that competition is going to be fierce and there is not much room for error.
More and more entrepreneurs are being born out of necessity and not out of choice. Petrol prices are going up, food is going up, everything just seems to be increasing yet our salaries are staying the same. So we are now pushed into making it on our own, calling out own shots and putting 110% effort into making our lives successful.
To make it out there in the business world you need to understand that when it comes to starting a business, the starting line is you! No matter what resources, products, services your business has, without you it doesn’t exist. You can’t win a race if you don’t compete; you can’t win the lottery without a ticket; you can’t make an omelette without breaking eggs; just like you can’t have a business without you.
You are the starting point for anything in your business – whatever your stage of business, whether you are starting, growing or diversifying. The starting point will always be you. So let’s look at what you is and just exactly what you do bring to your business.
You and your personality are made up of your good points and your bad points. For your business to succeed, you need to make the most of your good points: your strengths; and minimise the effects of your bad points: your weaknesses. So you need to recognise what these good and bad points are. You need to develop your self-awareness; identify your good and your bad points so you can make the most of the good and develop coping strategies for the bad. You need to brutally honest with yourself. Be brave and find out how others see you.
How you see yourself may be wildly different from how others see you. If you want to be successful in life and in business, it’s important to get to know yourself intimately and why you behave particular ways in particular situations and with particular people. Only then can you make any changes that you need to succeed. You may be blissfully unaware that people see you as ‘airy’ and disorganised, when perhaps you just have so much going on that you don’t take the time with people or you’re always late for meeting friends or you show up on the wrong day. Perhaps you can’t say no to requests from friends and then when the time comes you have to invent an excuse not to do something.
We all have underlying assumptions and values that affect our behaviour and those around us. We all respond to the expectations of others: our parents, society, and our friends. We all have roles in life, which dictate our behaviours too. You need to take responsibility for yourself; it’s up to you what you do, don’t be driven by what others expect or think you should do.
Take a close look at some of your behaviours and especially recurring patterns of behaviours. If you do not organise your time well and are always late for meetings then you’ll find that business people won’t give you the second or third chances that your friends and family might. You will have to learn to plan your time better, perhaps you always underestimate the time that it takes you to travel somewhere, and never allow any time for train or road delays.
In the business world you need to be very careful. Or perhaps you perceive yourself as more important and that your time is more valuable …

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Want To Know How To Market With Email? Check Out These Tips!

Most business owners who are new to the world of email marketing are not familiar with the appropriate etiquette they should use. It is possible to use email marketing as an effective way to communicate with customers. Continue reading for more email marketing tips regarding email etiquette.

Identify and appeal to your audience. After you have gotten a few readers subscribed, come up with ways to induce them to get their friends signed up. Always make sure there is “subscribe” link in the emails you send so that those who receive forwarded copies can easily sign themselves up if they are interested. You can use this method to make your list grow organically.

Always have one clear message in each email. You don’t want your consumers to be overwhelmed or bored by the content in your email. Create a message, keep it short and make your point. Your consumers will like it when they are not bombarded with unnecessary information.

Don’t over use words like “Buy now!” the way you go about it. People may view your emails as being spam-like and not want to purchase from your company any longer. They understand you want sales, but build a solid relationship and stay professional. Your customers will be thankful for this, and there’s a good chance they’ll make a purchase.

Try using different techniques when you are email marketing. You could look for reading material in a library or online. You may also be able to find local seminars or workshops to attend; pay attention to the classifieds and bulletin boards.

Try out new formats with your email. Put your important information and any new offers near the beginning of your messages. Try out different approaches to see what gives you the best reaction. Once you find what works, continue to use it. This way your readers know exactly what to expect and where they can find what they would like to read.

Make sure you only email subscribers who give you permission to do so. If your emails are considered spam, you won’t be taken seriously. You could lose customers and get reported for sending unwanted emails.

Don’t use a lot of graphics in the emails that you send. Many email clients don’t allow images to load, so sending a highly graphic-dependent message is useless, as many of your subscribers will be unable to make sense of it. Also, your email is likely to end up being sent to junk mail if it contains too many graphics.

Always have a link for people to easily unsubscribe or opt out of your email list. Don’t fail to provide an unsubscribe link and don’t bury it so deep in the text that it cannot be found. You want each of your users to feel like everything is their choice, and you are not forcing them into anything.

As the article above advises, it is highly recommended that business owners practice proper protocol in their email marketing program. Being rude to your customers will quickly cut down on the amount of subscribers you have. Remember this advice to make sure your client base grows.…

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Top Consumer Tips For Finding A Great Locksmith

If you wanted to ask someone you know to recommend a locksmith they know, they probably would just stare blankly ahead. This is because many people are ill prepared for an emergency involving keys or locks. Make sure that you take the necessary precautions. Continue reading to find out how to hire a great locksmith.

Do not choose a locksmith who automatically recommends replacing the lock as the only way to get into your locked home. Skilled locksmith professionals should be able to unlock just about any door without having to replace the lock. Lock replacement costs additional money and should be avoided if possible.

A locksmith who quotes one price and tries to charge another may be scamming you. Unfortunately, there are some locksmiths that are scan artists. If you’re being told the job is going to cost more than the price you were quoted, tell them to leave and find someone else.

Even if a locksmith is something you will never have need for, it is good to be prepared. Spend some time researching in advance and locate a skilled professional you can trust in emergency situations. Keep their number on hand for when an emergency strikes.

Avoid additional fees by using a locksmith during regular hours. If they come outside business hours, you’ll pay extra. For example, if you get locked out of your car, the standard cost for the service is about $50; however, after hours this fee can double.

Research with the BBB to ensure your locksmith is reliable. This can help you avoid scammers. Also, check the ALOA site, which determines the validity of U.S. locksmiths.

Choose a tradesman who is an active participant of his professional community. Although it is not absolutely necessary, it is always good to know that the locksmith you select is well-versed on current technology and trends. In addition, it lets you know that he is more likely to be a legitimate locksmith who will not abscond with your money.

Find out how long a locksmith has been in business. Also, check to see if they’ve always used the same location. Try to find a locksmith who has been in business for at least 5 years.

Check the reviews of locksmiths on the web. You can find many reputable websites that provide reviews online. Make sure the site you check for reviews is not however tied to any locksmith service or sponsor. Check with the BBB before you hire a locksmith.

Check a locksmith’s credentials before you let him inside your home. Double check the address listed is real and connects with the phone number you were given. Make sure that you go online to read reviews and anything else you can to check a locksmith’s reputation because it’s well worth it!

Few folks know which locksmith to call unless they had troubles in the past. The trouble with that approach is that you could get overcharged or receive shabby service. Avoid situations like this by being prepared. Use this article to help be ready when the need arises. You will be glad you did!…

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Top Hints And Tips To Find The Best Locksmith

Have you ever needed the services of a locksmith before? If so, you know it can be difficult to find a reasonable locksmith. If not, then you need to be preparde to quickly access one when you need their services. The following article has many suggestions to use when you are looking for a locksmith.

If you find yourself locked out of your house, do not listen to locksmiths who suggest replacing the lock up front. Skilled locksmith professionals should be able to unlock just about any door without having to replace the lock. Replacing locks will cost you more money.

You want to be sure you cover all locks in your home before you begin painting. If you do it wrong, a locksmith will have to be called in. While this does require an extra investment of time, it is certainly worth it.

Be certain to research your choice of locksmith before any work commences. You need to ensure that the person you hire is working for your best interest and not their own. Some locksmiths are scammers and will make copies of your keys.

Don’t take unexpected price increases lightly from a locksmith. This is generally a ploy to take advantage of a person in desperation. If this happens to you, decline services and contact another locksmith.

Even if it seems like you’ll never need to hire a locksmith, it’s always good to be prepared. Find a qualified professional who will be there in an emergency situation. Put a locksmith’s contact number into your cell phone for easy access.

Ask for a receipt from your locksmith. Even though the majority of locksmiths are legitimate, there are always people out there looking to scam you. Get proof that you paid for the service before the locksmith leaves. Put the receipt in a safe place in case a question about the payment arises later on.

If you’re unsure about the reliability of a particular locksmith, you need to look them up on the website of the Better Business Bureau. Contacting the BBB will help prevent you from being scammed. Additionally, the ALOA.org will verify that the locksmith is certified.

If you get a price quote on the phone, but are asked to pay more later on, express your dissatisfaction immediately. There are plenty of honest locksmiths out there, so do not do business with someone who isn’t straight with you.

Prior to allowing a locksmith to come into your home, obtain several references. Then call all of them! You surely want the best possible services from someone you know to be trustworthy.

Inquire about the experience that the locksmith has. Be sure that they’ve been operating from the same location for these years. A company with more than five years of experience would be a good choice.

Locksmiths do many things, but if you are clueless on how to pick one, you are sure to receive poor service. The information listed above will help you find a quality craftsman. This will make sure that you get the best workmanship to your satisfaction.…