Archive for June, 2011

How to Review Small Business Opportunities and Decide on the One for You

June 23rd, 2011

Hundreds, even thousands of people start in business every day. That is because like you they are fed up with being fed up and want a fresh start; a new direction achieving new goals. Then why do some achieve their aim of creating a small business and others do not? A high percentage do not succeed because they did not prepare a detailed plan and budget with the result that they lose rather than make money. The crucial period is two years and to ensure you are different from the many that fail in that time it is essential that you choose the right type of business for you.

PLAN

So before you even place the first word on your plan you need to review several important areas. For example even before you decide whether to sell goods or services you will need to consider whether running a small business is really what you want and precisely how you plan to run it. Where do you want to go with it, are you going to keep overhead low and start from home or will your business require a shop or similar premises? May be these days you feel an online business will be your best opportunity. Sometimes you can combine several types, for example a home based business along side an online venture. This is important as your method of operation will have considerable influence over the nature of the business you start.

PASSION

So many start up businesses are based on people’s hobbies, interests and training and so sit down and write out those areas you feel you have either an interest in or knowledge of, for example do you have a particular hobby or sporting prowess? If you are knowledgeable in the area of dieting you may consider running a diet club or an exercise class. Clearly the more outgoing you are the better your chances of success. Most homes have a pet and this is a very lucrative area and you may feel that you could start a business working with animals. Dog walking, pet sitting for owners on holiday or just physically cleaning and caring for someone else’s pet.

Knowledge is important but if you are passionate about something then your chances of success are greatly increased.

COMPETITION

As explained you increase your chances of success when you are passionate about something you have a good knowledge of, there are other areas you must consider. One such area is the competition within your sector. This is never truer that when starting an online business but that is the internet and you must factor that into your plans. However offline you will still have competition so find out what it is and make sure you will be able to cope with it. Clearly the smaller the number of your competitors the easier it will be for you to become successful. Competition helps to keep your feet on the ground but if there are already several businesses in existence in your chosen area then you are unlikely to succeed unless you can find a sub niche and ensure there is sufficient custom there.

There is no business that does not have any competition so before you start your business plan thoroughly research you local area for your potential competition and how they operate. That may be you make regular visits to a shop checking on their product lines and what products are selling. What are the prices, how packaged, what is the time it remains on the shelf and how do they attract customers into the store?

Comments Off »

Posted in Uncategorized

Tags:

Small Business Opportunity: The Top 7 Reasons to Start a Painting Business

June 22nd, 2011

House painting is a skill that most people can pick up quite easily. It is one of those rare home based business opportunities that actually work and it is very possible to make $30- $50 an hour without much effort.

Here are the top 7 reasons why anyone with basic painting skills should consider starting a painting business of their own.

1. Residential and Commercial Painting is a 22.5 Billion Dollar a Year Industry!

Every day homeowners across the country (and around the world) spend millions of dollars to have a living room, bedroom, kitchen etc painted. This is an industry that indeed has an unlimited amount of work available.

There is far more work then there are painters. Listed in the top 10 businesses in 2006 and predicted to grow into the foreseeable feature, there has never been a better time to start a painting business then right now.

2. Basic Painting Skills Are Easy to Learn.

It doesn’t take much time at all to develop basic painting skills. Just about anyone can do it. Most painters who learn through “On the job training” pick it up in just a few weeks. All it takes is a little practice.

3. Very Low Start-Up Costs

A painting business is one of the best businesses because it doesn’t require a lot of money to start. For under $250.00 (depending on where you live) you can get a painting business up and running and earning money.

With start up costs this low it doesn’t take long to become profitable and if you target small high paying jobs your overhead costs are next to nothing.

4. No Expensive Advertising Needed

Unlike most other business, a painting business doesn’t require a huge monthly advertising budget. In fact it is completely possible to build a profitable painting business without any traditional advertising at all.

Smart painting business owners spend time building relationships with people who “know people” that can refer them jobs.

5. Earn Professional Income Working Part Time Hours.

Many successful painting business owners earn $60,000 – $100,000 per year working less then 35 hours per week. Once you develop your skills and become proficient, it is not uncommon to make $300-$500 per day working just 4-6 hours.

It is possible to earn more in one day then most painting employees make working a 40 hour week. Every day painters sell their valuable skills to a boss for a measly $12-$15 when they could be earning top dollar running their own painting business.

6. Freedom, Lifestyle and Security.

The best thing a house painter can do to secure their future is to start a painting business of their own.

The potential to earn an above average income working part time hours is one of the biggest benefits of owning a successful painting business.

Many painters are making a great living running their own painting business. They drive nice vehicles, live in nice homes and have the time and money to do the things they love.

7. Outstanding Tax Benefits

Running a small painting business out of your home offers many outstanding advantages like high profit potential and low over head. Expenses like gas, tools and your vehicle may be write offs. (Be sure to check with your accountant) But the tax benefits of owning a small business are wonderful.

Comments Off »

Posted in Uncategorized

How to Recognize Small Business Ideas

June 21st, 2011

Business ideas are everywhere if you know how to recognize them. Often they simply go unrecognized because the thing that you are looking for and isn’t there, will often represent an opportunity for someone wanting a business even if that someone isn’t you.

Recognizing a potential small business opportunity is fifty percent of finding a small business. Not all opportunities will be for you as a person, or on further investigation, be a viable business proposition, but all you need is the one thing that meets all the criteria.

Business is all about “supply and demand”. If you are looking for a business to supply you with something that you are after at a time that you are after it, but there is nowhere that you can buy it, then that is an opportunity for a business. Whether it would be a viable (or prosperous) business needs further investigation, but it does represent an opportunity. This is how a person wanting a small business will start their evaluation process.

How do you evaluate a small business opportunity?

There is no point in starting a business unless you plan on making some money. After all, no one likes to work for nothing. As the bible says “the laborer is worthy of his hire…”

The way to evaluate a small business is through using tried and true accounting for small business principles. Over the millennium, there are criteria that have to be present if a small business is to survive by making an income. These solid accounting practices have to be followed in order to assess the potential and then to keep track of the progress of the enterprise towards the end goal.

The first thing any business needs is a goal and a plan on how to achieve it.. If you don’t have an end goal in mind and are frequently reminded of it, then the business will either sink into oblivion or grow like “Topsy’s House”. This is not beneficial for long term business success and there is no point in becoming another failed small business statistic. There are already too many of them.

If you haven’t recognized a business opportunity by finding something that is missing and needed, then there are many other opportunities waiting for you to investigate.

If this is investigation is something that interests you, then I would suggest a beginning to be a self-assessment. In this case, you will need to do a S.W.O.T analysis on yourself first.

SWOT stands for Strengths, Weaknesses, Opportunities and Threats.

You need to be realistic about all your strengths. No modesty, no ego but assessing what your strengths really are. We all have some even if we don’t always or frequently use them.

Weaknesses are part of being human. They are not often acknowledged but believe me, they are present. If you refuse to accept yours, ask an honest friend.

Opportunities are what the above two will reveal about you and how well you use this self-assessment.

Comments Off »

Posted in Uncategorized

Tags:

Craft Store – Small Business Opportunities

June 20th, 2011

Owning a craft shop is the dream of many crafters from all around the world.

Please remember that once the craft store has overcome the initial capital outlay and established itself in a given area, it will almost always be financially stable after that time. Craft stores are always going to have a cult following of crafters and craft groupies. That core group of customers are the very people that will give your craft store a continuous flow of cash and business.

Local Craft shop owner

I am naturally talking about a genuine small store type of craft store here and not some massive wholesale warehouse than covers acres of land. No, the nice and friendly local craft store that we crafters all know and love, and have been visiting regularly for as far back as we can remember.

Modern Craft and the internet

There is a very big advantage that a new modern craft store owner has over the old traditional way of running a business, and this is the Internet’s keyword research tools. Both new and existing craft business owners are able to use the free keyword tools online to keep abreast of the latest trends by simple using the keyword tool and keeping detailed notes.

By staying up to date with those search trends a craft shop owner would notice very quickly when a specific craft starts to lose popularity and will equally see which crafts are the newer and trendy crafts. Using this information the craft store would always be at the cutting edge of the crafting trends worldwide.

Modern craft store owners also have the distinct advantage of being able to run a website alongside their normal craft store, and if correctly done could in fact become the biggest source of income for the craft stores books. By being able to tap into the millions of crafters online – a website would be able to sell digital books and reports that they have written themselves or where they are an affiliate partner.

Craft shop and craft markets

If the owner of a craft sbusiness was in a large city with many potential customers, then it would pay for them to trade on the local craft markets. By having a big and very visible presence on these craft markets they will pick up new crafters and be able to add then to their existing regulars at the store.

I do however suggest that you freshen and change your display all the time as craft markets tend to have the same bunch of regular visitors and within a 12 month period you would have likely seen(or been seen by) all the regulars that support that craft market. Then you should move to another craft market for the next year and build up a new bunch of customers there.

Comments Off »

Posted in Uncategorized

Tags:

Entrepreneurs Size Up Network Marketing As “Today’s Most Desirable Small Business Opportunity”

June 18th, 2011

If you’ve talked to a small business owner in the past 12 months, you are probably aware of the concern, stress, anger and fear they are feeling. Many have poured their whole life savings into their businesses, and they can’t imagine what will happen if they fail. Not only are the financial pressures mounting, the time freedom they dreamed about when they started is a distant fantasy because they are now working overtime to make up for the employees they had to let go.

Like it or not, our economy is shifting. In order to take advantage of these new opportunities, savvy entrepreneurs are looking for three main criteria when starting a business:

1) Start-up costs that are affordable without a loan.
2) Hours that are reasonable and flexible.
3) Earning potential that is unlimited and residual in nature.

It’s quite obvious that entrepreneurs don’t go into business for themselves to work longer, make less and go into more debt; but for some reason, this is exactly where many of them end up. Today’s entrepreneur is looking at network marketing as a way to avoid the pitfalls of a traditional small business.

1)Low Start Up Costs – For those who can’t get or don’t want business loans, network marketing is the answer because it typically costs between $300 and $10,000 to get started. Most people can afford this with the help of savings or credit cards. Students, Stay-At-Home Moms, Retirees and those looking to start a home based business part time can all see the value in this low cost way to start a business.

2)Reasonable and Flexible Hours – Entrepreneurs like freedom and the ability to be their own boss. The problem is that most small business owners end up working twice the hours they would have worked in a traditional 9 to 5 job. Today’s entrepreneur is serious about quality of life, and Network Marketing is truly flexible; especially with internet based opportunities. You can work anywhere and anytime. In most cases, a 4 to 6 hour work day is sufficient once the fundamentals of your business are in place.

3)Residual Earning Potential – It is a fact that you can’t become truly wealthy unless you have a residual or leveraged income of some kind. Example: it nearly impossible to become wealthy as a real estate agent. You can make a lot of money, but wealth is in a different league. However, if you become a broker and have 50 agents working under you, wealth becomes much more attainable. If you sell insurance, you don’t create wealth with the commissions you earn each year; but you could create wealth with the residual checks from years and years of policy renewals. Many entrepreneurs have abandoned traditional small business ideas for network marketing because it offers leveraged income opportunities.

Comments Off »

Posted in Uncategorized

Tags:

The Secret Small Business Opportunities Online Few People Know About

June 16th, 2011

I am often asked if there are any small business opportunities online left out there.

People seem to think that everything has been tried. There are tons of secret opportunities. Why are they secret?

I will answer with a question. Have you ever been sent into a room to find something, let’s say a salt shaker and you can’t find it even after someone comes in to tell you it is right in front of your nose?

We tend to overlook the obvious. Car crash victims report that the other car “came out of nowhere”. Sir Arthur Conan Doyle wrote a great fiction story around the exact same phenomenon. His hero: Sherlock Holmes. The book title was The Purloined Letter. Basically, people couldn’t find a letter they were convinced was hidden. It lay for days on a table in plain sight.

What does Sherlock Holmes and car wrecks have to do with small business opportunities online?

Assumptions. People don’t see an opportunity right in front of their eyes. Yes, like the salt shaker.

So, what is the best small business to start? The affiliate business. I won’t go into it here. It will be the subject of another article.

Here are just a few of the “secret” markets out there that can be mined on the internet:

  1. Open a rental agency in Tuscany, Italy because you are sick of the rain and cold where you are.
  2. You love kids, but are sick of teaching? Build a site on kids’ birthday party ideas.
  3. Love network marketing, but your relatives and neighbors are getting rude about any more “shows”? Build a booming online network marketing site.
  4. You’re a laborer on an asphalt laying crew, love the smell of the stuff and the end product but you are sick of layoffs and bosses? Build a web site selling asphalt repair materials, asphalt machines, anything to do with asphalt.
  5. Computers are your thing? Build an expert site on XP. Sell cheap computer parts. Sell courses, software, peripherals and so on.
  6. A hair dresser can open her own hair care site.
  7. Become a web master. It is much easier than you think and the demand is incredible.
  8. If audio is your passion, create a site on all things audio.
  9. Health Juicers? Can’t go a day without your favorite vegetable brew? Build a site on that.

In conclusion, the list of “secrets” and dream businesses is as varied as the types of people reading this article. There are no limits and no market is saturated. The AFFILIATE SMALL BUSINESS model makes it all safe, simple and easy.

Comments Off »

Posted in Uncategorized

Tags:

The Most Lucrative Among the World’s Best Small Business Opportunities

June 15th, 2011

When it comes to making money, HOW MUCH DO YOU WANT? Probably a whole lot more than just some measly chunk change on the side. We’ll start with the fact that there are plenty of ways of making extra side change, and they’re absolutely perfect if that is what you’re looking for. But everyone knows that you can’t make a living off of “a little extra”. The best small business opportunities will allow you to quit your day job entirely, stay home full-time, and ENJOY A LIFE OF COMFORT AND WEALTH.

Provided below are some of the most LUCRATIVE WAYS to earn more than just a little extra cash:

1. FREELANCE GRAPHIC DESIGN – You may have to continuously look for jobs in the beginning, but after a few months, you should be able to establish some regular clients. As a graphic designer, you will be required to understand how to put a web page together, but you probably won’t need a degree. You will be able to work when you want, however much you choose. The national median average salary for a graphic designer is approximately 48K, which averages out to $4,000.00 a month.

2. HOME SALES BUSINESSES – Anything that requires you to sell a popular product is sure to bring in the income. There is no set amount of money these particular types of best small business opportunities can bring in. It’s all up to the seller how much effort is applied. Just decide how much you want to make and don’t stop until you’ve reached your goal.

3. MEDICAL TRANSCRIPTION – This may be one of the only work-from-home businesses that require a certification, but it’s very well worth the time and money. Medical transcriptionist’s have the potential to earn thousands per year, depending on how well they understand the dictation and how fast they can type. The good news is that there have been a number of recent technological advancements to help make the average medical transcriptionist’s job much easier. Now, there is speech recognition software that will actually type out the dictation for you, saving you a lot of time. The average salary for a medical transcriptionist is approximately 45K, however earnings can reach as high as 100K or more.

4. FREELANCE WRITING – In freelance writing, there are several options. There is the option to create your own website and charge your own rates or work for companies. Some people write for their city’s local newspaper. The pay depends on your own personal rates and the company(s) you write for. However, the ongoing salary for a writer is around 60K per year, but it can go much lower and much higher. It also depends on what you write. For example, if you write eBooks, you will make much more than when simply writing an article. There are a lot of details, but they all come down to one simple fact: freelance writing is one of the best small business opportunities around.

5. AFFILIATE MARKETING – You don’t have to market just one product. If you feel up to it, you can market 10, 20, or even 30! It’s all about how much time you can put into your advertising techniques. There is no selling involved, it’s basically a game of seeing how much traffic you can attract along with how many people you can get to click on your link. Some will purchase the product, and some won’t. That is why it pays to have more than one product. Earning potentials vary depending on the product being marketed and the personal ambition of the marketer.

Try to avoid lower-paying jobs at all costs. You can always find something better than just filling out surveys or answering telephone calls. Not all of the best small business opportunities will make you rich overnight. With experience, time, patience, and perseverance, YOU CAN MAKE IT TO THE TOP.

Comments Off »

Posted in Uncategorized

Tags:

New Business Market Research Identifies The Problem Effecting Business

June 11th, 2011

Specifically costs that are difficult to control such as utilities and inflation dominate. Also high on the list is federal taxes on business income, property tax and income tax. Tax complexity is also identified as a ‘critical problem’ for nearly a quarter of the businesses surveyed. This is because while the economic outcome remains uncertain, small business owners are constantly seeking innovative ways to increase sales and reduce expenses. According to the Bureau of Statistics only 42% of small-business start-ups don’t survive the first two years. Less than half of the remaining businesses make it to four years. So how should a business person view the prospects of being in business? Scott Shane on Kiplinger .com says there are certain common myths to be aware of to make the decision easier.

Myth 1. You need a lot of money to finance a new business. This may not be the case. Successful business owners who had to start their businesses without a lot cash had to borrow. They rent instead of buying.

Myth 2. Banking institutions don’t lend money to start-ups. What are your chances of financing a small business? data show banks account for 16 percent of all financing provided to companies 2 years old or younger. Although there may be better ways to get
funding, banks are an avenue to consider.

Federal Reserve Myth 3. Business success depends on the owner’s talent. While talent does have some bearing on business success, it is also necessary to consider the industry you choose, the market and location of your company.

Indications are that if you are involved in communications, telecommunications or technology your success will be greater than if you were to buy a small motel in outback Australia. Talent doesn’t have much bearing on the growth of a new business. Sure, successful people do work long and hard and sometimes at the cost of family, social and personal relationships. This is their choice. I know many people who work for wages and who work more than 50 hours a week. Even single parents dedicate twice those hours to their very important role. Hard work being associated with success is a myth.

Myth 4. Work Creates Stress The catch cry of most business owners or executives is, “I work more than 60 hours a week” or more to the point, they say with pride, “Success

Comments Off »

Posted in Uncategorized

Tags:

Small Business Ideas for Students

June 11th, 2011

Tutoring: It is the perfect business for a student who wants to just earn as much money as is required to cover his expenses. In order to start tutoring, one can consider teaching subjects, like, Mathematics, Science and English. This business doesn’t require any kind of investment and one can earn enough to pay for one’s expenses.

Handmade Crafts and Items: Selling handmade craft items can earn you handsome cash required for your expenses. The craft works, paintings, knitting, etc. could be sold at fairs, gatherings, etc. One can even start selling such arts and crafts from the home itself. The art and craft items one has prepared during his school days could also be used for this purpose.

Note Taking: One can take notes for their fellow students and charge them for the service. This task would require one to work hard, however, it is an easy way to earn money without investing anything.

Yard Work: It is one of the small business ideas for college students who want to earn money without spending anything. One can mow grass, carry out weeding, reeking, etc. and charge people for the service. If one knows a bit about gardening, he can help the neighbors in giving their garden an artistic and beautiful look. Tending the vegetable patches of neighbors could also help to earn a decent amount of cash. Read more on lawn care and gardening.

Freelancing: The activity of freelancing could include works, like, writing for newspapers, doing photography, etc. It is a creative job and would help in bringing out the best in your work. However, there are a lot of uncertainties involved in this activity. For example, the news that is covered should be appealing and one might not get paid if the employer doesn’t find it interesting. However, just like the above mentioned businesses, even freelancing doesn’t require a person to invest anything beforehand. Read more on freelance writing.

Laundry Service: Starting a laundry service is one of the good business ideas for students to earn money. One can advertise this small business by means of mouth publicity. Since, washing clothes is a boring job and not many people are ready to do it, one could find a better business opportunity in this work. A good washing machine that is capable of washing multiple clothes would prove to be helpful in easing out the work. Moreover, one would be able to save time for studies and other extracurricular activities.

Data Entry Jobs: It is the kind of job which can be done even by a layman and doesn’t require much skills except for speedy typing. It is a good source of earning money for students in their available free time. Basic knowledge of handling the computer is enough to do the data entry jobs. Data entry jobs are considered to be one of the popular online business ideas for college students.

Entertainment: If one is fond of playing a musical instrument, like, piano, guitar, etc. he can try to earn money by performing in receptions and parties.

Comments Off »

Posted in Uncategorized

Tags:

Successful Small Business Ideas for Small Towns

June 11th, 2011

Specialty Restaurant
Ever wondered what is the secret of success behind restaurants that dish out continental, Japanese, Indian or Chinese fare in America? Simple, it’s the experience of eating something different, something unique, something that we don’t normally cook in our homes! So, one of the successful small business ideas for small towns is to open a restaurant which dishes out a cuisine, completely new and unknown to the town inhabitants.

Consultancy
There must be some businesses already in town, who are struggling to make profits, although the products that they sell are good. So, if you have good knowledge of the local area and market, another of the small business opportunities for small towns that you can consider is to start your own consultancy. You can advice these small businesses on how to market and advertise their products. If you feel that some businesses manufacture something unique, which can generate a lot of demand in cities, you can market their products in cities too!

Interior Decoration Store
Usually, it is seen that people in small towns lead a very casual lifestyle, with not much emphasis on high lifestyle or luxury living. The reason could be that they never got an opportunity to experience it. So, what you can do is to open up a shop which sells interior decor items to them. A good way to assess whether this business would be a success or not, is to have your own house decorated with a few of such home decorating items. Invite some important town gentry over and assess how much interest and enthusiasm they show in them. If you feel positive, you can go ahead with this small business ideas for small towns.

A Coffee Shop with a Difference
In small towns, people tend to socialize a lot. So, you can meet this need by opening a coffee shop. But, most probably, there will already be coffee shops in the town so why would people come to you? Here, to create your own USP (unique selling point), import the baked goods which go with coffee such as doughnuts, pastries, muffins, cakes, etc. from the city! If you are the only coffee shop in town which sells yummy, scrumptious bakery goods from city, people will come to you!

Internet Business
If you have an Internet connection and are well versed with Internet usage, there are plethora of opportunities for making money online. You can start any of the Internet businesses, such as Internet affiliate marketing, blogging, content writing, article marketing, web designing, etc.

Fitness Center
If the town does not have a fitness center, you have hit jackpot! With so much stress on staying in shape these days, it is one of those small business ideas for small towns, which will rarely be unsuccessful. If you do not want to invest in the machines, you can even consider taking up aerobics or dance classes for fitness. Check out the list of small businesses.

Boutique
This one is simple. Get fashionable clothes from the city and sell them in the town with a profit! To make it more lucrative, sell some chunky jewelery as well. Teens, young women and old women, all will be thrilled to have some unique clothes and jewelry from out-of-town!

Comments Off »

Posted in Uncategorized

Tags: