Are you tired of working for someone else? Have you been wishing you had more freedom and flexibility to work your day around your family or other responsibilities? Have you been considering starting a small business? Well, it is possible. There are more and more opportunities for people to live the American dream and make their hopes a reality. And there are many opportunities for prospective business owners to get the funding that they need to get their small business going.
Start up money is the biggest concern, and it is possible to obtain the start up from state grants through the government. There are also plenty of investors looking for a good place to put their money. And finally there are prior owners of businesses that will, in many cases, work with a prospective business owner to help them get established, take over the business, and have a set time period of which they will need to pay the business off in full.
But there are many small businesses that do not require much start up costs at all. Many businesses can be maintained and be run out of your own home. In this dot com age, there are many businesses that just require you to have a computer and a business license. If you have skills or talents that you can market, then it really will just be the marketing costs to get the word out there that you are in the business. Be creative with your marketing too and that will help keep costs down. For example if your business is an online business, then many other online businesses that are non competing will allow a reciprocal link to your site from theirs. This is a great way for online companies to help each other while helping themselves.
Once you have your small business going you want to have established clear cut goals for growth. Fortunately, there are many computer software programs that are designed for this very thing. Everything from payroll, to budget, to customer base for mail-outs can be found on good software that is made for the small business owner. Staying on top of what is going on with your business is key to your success. Write a mission statement before you even begin, post it where you can see it daily, and then proceed to do the things necessary to accomplish your mission to be a successful small business owner.…
“The Best Advice is always free”
Starting a small business requires bucket loads of wisdom. Financial wisdom offered through various media is not always inherently beneficial to the reader and their business.
The foundations for financial excellence are elementary and logical; here is a new perspective on financial insight to starting your small business. Making use of purely scenario planning this illustrated scenario would be a recommendation for all businesses that you intend financing.
The average cost of setting up a franchise and small business in U.S.A. is currently in the $300,000.00 to $ 474 000.00 marks, a sizeable sum taking into consideration the prevailing economic climate and business confidence levels.
Loans or Finance
In order to stimulate the economy, banks are eager to finance new business as this has a long-term stimulus on the economy and contributes to job and wealth creation.
Most individuals do not have the entire capital amount available to finance their new venture and financing becomes the preferred and logical route to market.
Taking into consideration the average price of a new franchise $474 000.00, the average cash portion of financing that particular business would be $ 153 000.00 which includes the initial, cash joining or franchise fee.
This would equate to a financing portion of $321 000.00 or 68% of the initial set-up cost of the business.
From a personal and statistical point of view, the gearing or debt ratio is too high and the minimum recommended debt ratio should never exceed 50%.
Why is gearing so important?
It is nerve-wracking and soul-destroying to build a business for you only to allocate the major share of your income and profits to servicing a loan and the commensurate interest payments. The strain on the cash flow and reserve funds is too great, and the business rapidly becomes a financial risk to the entrepreneur and the banks concerned.
“The Free Advice”
When using the above figures as our reference and benchmark, if the inclusive cost of the business is $474 000.00.
It would be prudent to assume that if shares were offered at $1.00 per share then the business would have 474 000 shares on offer.
Taking my advice of a 50% gearing or financing ratio, the business when financed by the entrepreneur would allocate to the entrepreneur, 50%(237 000 shares) of the shares currently on offer (The portion he/she has paid cash for)
The remaining 50% of shares on offer would be the right and technical ownership of the banks or financing institution.
The Thinking Motivating This Strategy
As the entrepreneur pays off the loan, their ownership or share-holding increases exponentially.
Goals are easy to set, time and financing permitting the entrepreneur sees his/her goal of 100% ownership as achievable and desirable.
When the bank is essentially a partner in your business the relationship changes, the entrepreneur can take the banks perspective into consideration as they are a valuable share-holder, the logic of having a “you” and “me” approach becomes a “we” approach to the business.
Any extra funds available will inherently go toward servicing the loan on the business.
The Ultimate Lesson
That our thinking and approach has changed, it is a recommendation that one ignore financing by financial institutions and approach friends, acquaintances, and family to finance your business using this share-holding approach. The entrepreneur develops a fiscal policy that is easy to equate and calculate, profit distribution is just as equitable, and the entrepreneur has a clearer indication of the status of the business free of financing and interest costs and charges.…Read more
What is the one thing you must have that will compensate for all other problems, short comings and obstacles you will face in your journey to start your business? Persistence is the only quality you really need to make it through everything else.
It is very simple but that is all it will take. You can be very smart but if you give up too soon you won’t get there. You can have a great idea but if you let negative events cause you to quit you aren’t going to get there.
Lots of people who don’t consider themselves especially smart or gifted or even hard working have achieved their goals just by doggedly moving forward no matter what kind of problem cropped up. Other people who seemingly had everything going for them failed because they decided they couldn’t or didn’t want to follow through to the end.
The key to staying persistent is to know exactly what the end goal is and then break down the steps to get there into small and manageable steps so you can complete each one in sequence and always know you are moving closer to your goal. If you simply resolve not to quit until you complete each step and then always resolve to move on to the next step once you’ve completed the one before you will find it impossible to stop and the path forward will always be clear so that all you will have to do is continue to make a little progress towards your next intermediate goal each day until you reach the very end.
I guarantee that if you are persistent and always look for a solution to whatever problem comes up and refuse to quit until you have gotten what you want then eventually you will get there. It won’t always be easy and it won’t always be smooth but eventually you will get to the end result.
I also promise that wishful thinking and planning without taking action will never result in you achieving the goal. It just doesn’t work that way and there is no reason to expect an exception in your case.
Many people are disappointed to find out there really isn’t a trick or secret that will simply give them everything they want without any work but those people will always be disappointed and complaining that life isn’t fair and that things are too hard. That’s fine.
I think they are wrong, though. What could be fairer than rewarding the people who are willing to do the most and keep at it after others quit with ultimate success?
If you want you can have it no matter what point you are starting from and what point you are aiming at. All it takes is not quitting even when quitting seems like the best option and a lot easier than continuing.
So the only question that remains is are you going to start and once you start are you going to finish? Many already have. Now it is your turn to do it.…
A recent article provided by stated that one of the most common traits that all billionaires share is the ability to crunch numbers. But what does this mean exactly? After all, everyone has taken math in school or can use a calculator. So, why aren’t more people wealthy?
Surprisingly, many people go into business without taking the time to really sit down and analyze what it’s going to take to make a profit in the business that they have chosen. Many simply decide to rent or lease a property, stock inventory, open the doors and hope for the best. While this scenario may work for some, it’s best to make a study of several factors that determine to a large measure the chances of any commercial success. Here are some tips on how you can “crunch the numbers” for your particular business and succeed.
Billionaire investors often buy commercial buildings, shopping malls, luxury hotels, trade in stocks and commodities, and invest in hedge funds. When they enter a trade or buy a property, they already have made an in-depth study of the numbers that factor into such a transaction or deal. What are the traffic patterns, for example, that pass by a particular corner, the buying habits of the clientele, the average salaries of people who live in the area, the cultural composition of the neighborhood, the nature of the competition, etc.? Crunching the numbers can give a real indication of the potential success or failure of any enterprise. Put the odds, in other words, as much in your favor as possible. Be smart when you enter the business waters, because once you dive in, there’s no turning back.…
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.…
Most people don’t know what they’re doing when it comes down to generating income off of the Internet. This article is a great place to begin. This will teach you how to make money online. To really make this venture work for you, be sure to take a look at this article.
Give yourself a schedule. Online income is definitely tied to your ability to keep at it on a continuous basis. This isn’t the quick way to making loads of money. Hard work each day is required. Set aside a specific time during the day. Just an hour each day can add up over time.
Surveys are a great option. There are a plethora of surveys to pick from on the Internet. They can really help you earn extra money. Depending on the site offering the survey, they may not pay much. Nonetheless, it’s easy to do them in your spare time, and you can make quite a bit of money.
You should be ready to offer proof of your identity when pursuing online work. You will need to provide identification in some places. You can either scan your ID in yourself or have your ID scanned at a local Kinkos store for this purpose.
Tutoring others is a growing business. If you want to work at home and use your knowledge, tutoring may be for you. As long as you have an in-depth knowledge in a certain area, you could be a tutor for a site like SmartThinking or TutorVista. You could even open up new career paths if you do a good job.
Search “make money online” on Google. You’re going to see a good number of options available. Once you have found a good looking opportunity, research the company reputation and reviews. Be cautious about who you decide to work for, however.
Your downtime should be put to good use. There are some things that you could do online that take very little focus. This is true of tiny tasks on a crowdsourcing site like Mturk.com, known as Mechanical Turk. Do the work instead of watching TV. While you may not get rich, you will be making the most of your downtime.
Before you get started, determine the worth of your time. If are going to to a certain job, what do you want to make per hour? If you’re willing to do work for very little, it’s unlikely that you’ll ever make much at all. People will see that you work for little pay, and they will pay you based on that assumption.
Your income streams should be as diversified as possible. Making money online is a very fickle undertaking. Some sites close up shop from time to time. Diversify so that you are acquiring income from a variety of sources. You will have other income sources if another starts slowing down.
Making some cash by working online is possible. Entering the fray with your eyes open will help you succeed. This article is the first step in becoming educated on making money online. Use each tip carefully.…Read more
Many people don’t understand the locksmith profession. Aside from creating keys and helping those that are locked out, what do they do? The following article will give you insight into what you need to know about finding and dealing with locksmiths. You’ll be prepared next time you have a lock emergency.
If you need to paint your house, cover all locks before painting doors. If you mistakenly seal the hole off, your key no longer will fit and you will have get a locksmith. Covering all your locks can eat some time, but it’s a lot faster and cheaper than using a locksmith to change them all.
Before you settle on a locksmith, do some research first. You want to be sure the locksmith is ethical and professional. Be careful, there are people out there who will scam you and make unauthorized key duplicates.
Choose locksmiths who are active members of the professional community. It’s not entirely necessary that they are, but it will give you comfort knowing that they are. This will also help ensure that he isn’t some moonlighter who isn’t concerned about the job.
Get references before allowing a locksmith in your home. After this is done, you should take it a step further and give them a call. Not only should you hire a quality locksmith, you need to be able to trust them entirely.
Before scheduling a locksmith appointment, make sure you see their ID. The last thing that you want is to get scammed or robbed. Professionals should be in uniform and have ID on them at all times.
Be leery of hiring a locksmith that charges well below the price quotes of their competitors. This may be an indication that the locksmith isn’t all that qualified. Find someone who charges a reasonable price and has good reviews.
Look for a good locksmith before you actually need one. You won’t have many choices if you put it off until you have been locked out of the car or house. This may leave you in trouble.
Don’t hire the first locksmith you speak to. You need to contact about four different locksmiths before you hire one. You will know what the rates are with various companies. When you know what it is, you can pick the locksmith with the fairest rate.
There are many great online resources that can help you find a locksmith. People often share their experiences with various locksmiths online. Whether they had a nice or a bad experience isn’t important. It is vital to choose someone who has good reviews.
Avoid locksmiths who tell you they need to replace a lock. Skilled locksmiths can get you inside without damaging the lock, as well as give you a new key.
The subject of locksmiths is not something most people discuss in casual conversation. However, when they are needed, we really need to figure out what goes into finding a good one. Ideally you have learned enough to know the right questions to ask when seeking the assistance of a locksmith. You might need them some day!…Read more