1. Where do I want to be in five years. This is a good question to ask yourself. In today’s highly competitive world one must have a clear vision of who he wants to be and where he wants to be within 5 years. I often find people that are approaching their fifth year in business, making a reasonable income but utterly frustrated with the amount of hours that they have to put in or frustrated with the type of work that they are forced to do, others just feel trapped and are looking for change.
Decide where you want to be in 5 years, write down on a piece of clean white paper where you want to be in 5 years professionally, socially, emotionally, physically, spiritually and economically. You gotta do it, as they say, if you don’t know where you are going any road will take you. If your not good at this get someone to help you.
The Question: What do I want my life to be in 5 years?
2. Do I have the shear will to compete and succeed at the business I have chosen and furthermore do I have the shear determination to follow my 5 year vision. Most successful business owners I’ve met have above average abilities and that’s what allows them to leave the job market and set off on their own. Many unsuccessful business people I meet have average abilities and are better suited for employment of some sort. So make a honest evaluation of yourself, don’t get caught up in the romanticism related to business. Be realistic about your own abilities, it will save you much time and money.
The Question: Do I have what it takes to make it?
3. If you are having trouble with the question above maybe this will help. They say that failure is the path of least resistance. So going further in evaluating ourselves, lets look at our track record. If you are a constant procrastinator and rarely get things done right this maybe a bad sign. If you often fail, quit, give up on things, well that’s not a good sign either. But if you follow through and stick it out most of the time, there is hope.
The Question: Whats the rest of your life look like?
4. What type of team do I have to make this thing happen? Throughout my professional career I have seen many individuals who claim to have a business but are actually self-employed. There is a big difference. Owning a business, you must have a team even if only one other person. Setting out on a mission alone is noble but hinders your growth and many times leads to failure. Working alone is a difficult prospect even for the most introverted of us.
The Question: Do you have a team?
5. Do I understand accounting is a very important question to ask yourself. People who do not understand the basics of accounting are detached from a …
For new entrepreneurs, sometimes it can be difficult to decide what you want to charge for your services, and understand how to bring together your dreams and desires while still making the math work; you have the dream, but where does that break down into cold, hard cash? Here are 5 pitfalls that I see happen time and again with new entrepreneurs:
They don’t begin with the end in mind. New entrepreneurs are often so worried about making a living that they don’t consider being selective with their hours or clients. The set an hourly rate that forces them to reach their income goal through volumes of meetings and work! This is a perfect way to wear yourself out and begin to feel like you’re just punching a clock again.
They only use their gut to decide what they should be charging. Checking in with your internal body compass is a great way to assess if you’re on the right track, however, so many people tell themselves “stories” about their money that sometimes this isn’t the most effective method-most new entrepreneurs get a knot in their stomach just from thinking about charging someone, so you have to get past that story before you can objectively look at pricing.
They are starting part-time and defer the decision. Some new entrepreneurs tell themselves, “I’m transitioning from my existing job and doing this on the side, so I don’t need to start charging what I WANT to charge immediately.” This just defers the inevitable AND causes you to work at the job you want to leave for that much longer!
They don’t use the right math to figure out how to maintain their existing lifestyle. Most new entrepreneurs use their salary from their last job to determine what they need to maintain their life, but being an employee and being a self-employed business owner are so different financially that new entrepreneurs lose time and money because of miscalculated assumptions.
They under value the experience they have. Many new entrepreneurs are paralyzed by the thought that part of their rate is a reflection of experience and mistakenly think “small” when setting their rate. What new entrepreneurs need to realize is experience is subjective, and the actual game changer is the level of confidence they have in their direction! Each one of us was put here to offer something unique to others.
One of the reasons a person decides to become self employed is improving their bottom line, yet sometimes the thinking that caused them to originally be frustrated with their finances will also bring those same issues into their new business.
When new entrepreneurs only look at what they are comfortable charging, and they don’t figure out what they should be charging, there’s bound to be setbacks. Avoiding these pitfalls will ensure that the new entrepreneur does not waste time or money when launching their new venture!…
There are a number of ways that you can substantially reduce or eliminate a number of the risks of starting a new business. Foremost, the best way to ensure that your new company will be profitable is to develop a highly focused demographic analysis that showcases the need for your products and services within your respective market. If you are thinking of starting a small business then it may be in your best interest to talk to local residents to see whether or not they need the products or services that you intend to sell. Prior to starting any business, you should complete an extensive competitive analysis that will allow you to understand how many other businesses are offering products or services that are identical or substantially similar to what you intend to provide.
One of the best ways to reduce business start up risk is to initially develop a website that showcases the services that you offer. You can then advertise this website by using popular pay per click programs to drive traffic to this website. If you receive a significant amount of inquiries regarding your services then you may be able to effectively start your company as a home based business before you move into a formal location. Many highly successful companies initially started as home based businesses. As such, if you are able to provide your services from your home then you will be in an excellent position to determine whether or not you should continue to grow and expand this business in a formal capacity. However, it should be noted that using this type of technique is only appropriate for new businesses that offer services.
Additionally, you can always hire a market research firm or business development company to complete an economic viability analysis on your behalf. These companies will essentially use a number of methodologies regarding whether or not a business will be viable from the onset of operations. It should be noted that the expense of using these types of services is extremely high. A formal opinion as to the potential profitability of a business can cost upwards of $5,000. However, this cost is small compared to the typical start up costs associated with launching a new business venture. Of course, it is important to note that very few businesses become profitable within the first six months of operation. These companies will provide you with expert advice as to whether or not there is a significant demand for the products and services that you will sell through your company.
If you are primarily engaged in the sale of products then it may be in your best interest to use a popular third party website that will allow you to sell your products without having to go through the expense of launching a traditional retail location. If you intend to sell products online then you can expect a highly competitive market. One of the ways that companies that sell products online have become successful is …
I am contacted all the time by people who want to start a business and need my services, but who don’t realize that they actually aren’t ready. So then what does it take to BE ready to start a business?
The majority of clients who contact me about starting a business only have an idea in their heads. They don’t have a business plan, they haven’t saved up the cash they need for capital expenditures, and they haven’t thought through the costs of actually running and marketing the business. All of these entities are requirements for setting yourself up for success; skipping any or all of them can cause you to stumble later on down the line.
It’s important to note that creating a solid brand takes time and varying amounts of cash. Have you calculated how much money you need to create a website, create your image and brand identity, and create your marketing materials? Have you saved up the money to cover those costs? And if not, are you trying to get started on the cheap by hiring the most inexpensive (and often least professional) help possible, thereby setting yourself up for failure before you even begin?
Lately my advice to new clients has been this: take some time, research your market and competition, write down your expenses, and save some capital to fund your endeavor. When you have done that, I can do my job and help you grow. And you will be ready for success.
So, think you are ready to start a business? Use this list as a reference:
Have you written a business plan?
Have you researched your market and competition?
Do you really know what you need to get started?
Do you have enough money saved to cover your capital expenditures?
Are you capable of funding marketing activities for your business once it’s off the ground, and do you know what those will be?
Have you set goals and targets for your business so that you can gauge whether or not you are being successful?
Starting a business is not an easy endeavor, nor is it a fast one. Because everything in our society is so fast, people want to get their businesses going quickly without having to put in the time and effort.
But remember: you have to do the work first in order to be successful later. Take the time to plan, save, and research so you set yourself up for success. Consult with a professional so that you know what you are doing. That way you have a better chance of achieving the ideas and dreams you are so passionate about.…
Starting a business on a low budget and succeeding sounds quite unrealistic but it holds true when you are talking about an online business. Online businesses have numerous advantages compared to a traditional one. You don’t need to spend thousands of dollars to get started; even if your idea flops you do not loose a lot of money, and you can promote and sell a variety of products from expensive items to perishables.
Selling your product online also does not require you invent new wheels; all you need to do is to choose the proven ways and get started. This approach will also be helpful in avoiding any scams and fake programs.
When staring a business online with a low budget your first investment would be to buy a domain name and hosting for your online store. Next step is the choice of product. Choose a product that has no inventory. The product should have its worth is today’s debt ridden world and it should help people make there life better.
Now comes the most important thing that is how you market your website to get targeted visitors keeping in view you low budgets. Advertising you business is not a piece of cake it requires hard work and commitment. It’s advisable to keep advertisement budget next to zero. The reason for not spending big sums in the beginning is that you are still in the learning phase and by this tactic you are forced to learn. Once you gather enough knowledge about internet marketing than you can spend bigger amounts on advertisement and it would be called secured investment.
There are number of ways by which you can market your online business. SEO, search engine optimization technique can be used to submit your website to different search engines; you can place a link of your website on other similar websites. Some websites take money just for placing your ads while others charge you when these ads are being clicked. Business with very low budgets can also send emails to targeted customers.
Direct marketing is also an effective and cheap way to market a newly started low budget business. You can reach your audience by posting on different online forums and social networks, inserting fliers in newspaper is also a good direct marketing tool.
Starting a business with a shoestring budget and attaining success is a possibility in today’s world. All you need is a little hard work and motivation.…
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 …
It is certainly tough to operate a profitable woodworking enterprise. To be successful at woodworking, you need to be dedicated and put in hard work. This article will give you hints on how to run your woodworking business. Continue reading to learn from this great advice.
Consider making your own sanding blocks that can be used again and again. Make a list of each sandpaper grit that you typically use, and then cut a full six blocks for each from scrap plywood, 3/4″ thick. Cut them to 2.5″ by 4.75″. Use some spray adhesive on your blocks and the cork tile. Stick one block to your cork and be sure to cut your cork flush using a utility knife. Spray the back of a sheet of sandpaper with adhesive and adhere the cork side of the block to it. Finally, trim the sandpaper and label each block.
Stair gauges may be just the ticket for crosscut guides. Just clamp them on your carpenter’s square while making sure they match up. Then mark the notches. Putting them both on the carpenter’s square’s tongue will make an excellent guide for your circular saw.
When you’re working out a budget, you have to think about itemizing the new tools you may have to purchase. It isn’t hard to overlook tools when you are concerned about the cost of wood and accessories for your project. However, if you have to get tools that you do not have, this can break your budget.
If you’re renting a new tool, ask for a brief tutorial. A lot of the time they have specialists that will help you learn to ue the tool more easily than if you tackle it by yourself. Also ask if there are handouts available with tips for tool usage.
Ear protection is vital when you begin a project. Woodworking can be very loud. Exposing your ears to these things for a long time can cause hearing loss. Ear plugs or headphones are very beneficial in the workplace. Whatever choice you make, be sure that they are always worn inside the shop.
Have lots of lighting in your work space. Measurements must be accurate when working with wood. Additionally, sharp tools are frequently used to cut wood. You also have to see well too or else you could get injured or make other mistakes.
Beer is enjoyable on a hot weekend. Just remember, drinking while you work with a saw can have disastrous consequences. Never drink alcohol while working on a project. The same caution applies to the use of prescriptions or illegal drugs.
You should make sure you use the right species of wood for the project you are working on. Avoid using a soft wood for tabletops because it scratches easily. And keep in mind that different woods will have different colors at the end of it all.
As was talked about earlier, being a professional woodworker takes a lot of time, work, and dedication. You need to be educated on …
Woodworking requires many different skills. Working with wood can create a variety of beautiful items. When you want to start this hobby, the tips here can help you out. The following tips will allow you to begin when you work with wood.
Safety is important when working with wood. Proper tool use and safety equipment are important when you are woodworking. Never remove any guards off of your power tools that are there to protect you. The last thing you want is to injure yourself severely while woodworking.
Reusable sanding blocks made by yourself will save money. Make a list of each sandpaper grit that you typically use, and then cut a full six blocks for each from scrap plywood, 3/4″ thick. They need to be 2.5″ X4.75″. Put spray adhesive on the blocks and the tile square. Cut the sandpaper with a utility knife to better fit your block. Get a sandpaper sheet, spray it with adhesive, and then apply it to each of your cork blocks; they need to be face down. Lastly, cut the sandpaper to be flush with the cork. Finish by labeling each block.
Are you aware that your workbench height is essential for having successful woodworking projects? To figure out how high your workbench should be, you should measure how far your waist is in comparison to the floor. Your bench will be at the perfect height at this measurement.
If you’re renting a new tool, get a tutorial from the store before using it. In most cases, a specialist will show you how to properly use the tool you want to rent. Also inquire if they have any literature that includes tips on how to use the tool.
When doing woodworking with laminate, a good method of trimming the material is by using a pair of tin snips. You can cut effortlessly and quickly with tin snips. Using them only for this laminate also helps keep them sharp.
Know wood characteristics before buying or using it in your projects that need staining. Paint grade wood is considered a lower quality wood, if you buy stain grade it means that the grain of the wood will be more attractive when stained. Similarly, veneer and particle board are quite different; the former does not absorb stain well while the latter absorbs too much. Your project will turn out better if you make sure you get the right wood.
Know about the different kinds of wood you use, and the characteristics of each. Woods can differ substantially. Different tree species respond to staining in different ways. Also, different woods splinter differently when they are cut. Therefore, you will want to check out all of the types possible. All of these characteristics will become features in your project.
As you can see, woodworking has much to offer a person who is looking for an enjoyable hobby. It can even be a skill that can earn money. The above tips were written to help get you inspired as …
Each day people dive head first into real estate investing only to find themselves under water fast because they didn’t take the time to acquire the necessary information. But this article will help get you off to a great start with your investments. Continue into the following paragraphs to learn a few good pointers regarding real estate investment.
If you plan on investing in the real estate business, you should get a business license. This helps protect your investments. Additionally, you may be able to get tax benefits for your business because of your dealings.
Prior to starting your real estate investments, choose a particular submarket to focus on. You might be a good fit for real estate flipping. Or, rehab projects may be more up your alley. Each one takes work, so focus on what you enjoy and better those skills.
Try to get an idea of the value of other property in the area. This information will give you a better understanding of the neighborhood. Looking at the situation from the street level helps you make better decisions.
Seek out fellow real estate investors. They can provide you with some very valuable advice. It can be quite useful to have a couple of friends who know a lot about investing in real estate. Search out like-minded people online. Join a few forums and look into attending meetups.
Try not to purchase poor properties in real estate. You want to look at factors, such as if other homes are selling in the area quickly or not. Though it may cost more, paying for a good home will equal to cash flow.
Choose wisely who you allow to live in your rental property. Also, make sure that they give you the necessary funds in advance. If they can’t manage to gather enough money, there is a high chance that they will end up falling behind on their monthly rent as well. You must then seek out a different person for the rental agreement.
Make sure you think about the rental income for a home when you are thinking about the actual value. This will give you a lot of extra money. After that, you can then sell the home for the profit you desire.
Don’t do any improvements that involve digging until you determine whether or not you would be damaging underground lines. In certain areas, it is considered illegal to dig, and you don’t want to cause any property damage.
Think about getting with a management company that deals in property. This will cost money, but it is usually a worthy investment. The property management company will screen your potential renters and handle any repair costs. This will allow you time to search for other properties to invest in.
You want to get into real estate as a way to buy low and seller higher, and the information provided here should help you do just that. Keep studying the market, and you will see results. With this knowledge, you …
Most people think that Forex is confusing. Trading on Forex without understanding how it works is a recipe for disaster. What you are about to learn in the following article is valuable information that will help you get on the right track with Forex trading.
Don’t let your emotions carry you away when you trade. You will get into trouble if greed, anger or hubris muddies your decision making. Letting your emotions take over will detract your focus from long-term goals and reduce your chances of success in trading.
When beginning your career in forex, be careful and do not trade in a thin market. Thin markets are markets that do not have a great deal of public interest.
For instance, if you decide to change your stop loss strategy after your overall Forex trading strategy is underway, this change could result in losing significantly more money than had you done nothing. Follow your plan and avoid getting emotional, and you’ll be much more successful.
Make sure to avoid using forex robots. Although it can produce big profits for sellers, it contains little gain for buyers. Do your own due diligence and research, and do not rely on scams that are targeted at the gullible.
To keep your profits safe, be careful with the use of margins. The potential to boost your profits significantly lies with margin. When it is used poorly, you may lose even more, however. Use margin cautiously and only when you are confident that your position is secure and there is a minimal risk of loss.
Forex is not a game and should be done with an understanding that it is a serious thing to participate in. People who are interested in forex for the thrill of making huge profits quickly are misinformed. Going to a casino, and gambling their savings would probably be less risky.
It is unreasonable for you to expect to create a new, successful Forex strategy. Forex trading is complicated, and experts have been monitoring it and experimenting with different practices for a long time. You are just as likely to win the lottery as you are to hit upon a winning forex strategy without educating yourself on the subject. Becoming more knowledgeable about trading, and then developing a strategy, is really in your best interest.
If you put all of your trust into an automated trading system but don’t understand how it works, you may put too much of your faith and money into its strategy. The consequences can be extremely negative.
Placing stop losses the right way is an art. It is important for a trader to rely not only on technical knowledge but on their own instincts. Determining the best stop loss depends on a proper balance between fact and feeling.
As was stated in the beginning of the article, trading with Forex is only confusing for those who do not do their research before beginning the trading process. If you take the advice given to you in the …