Tag: Small

Eight Steps To The Next Level – The Business Plan, "The Engine of Small Business Development"

This is the second of a series of articles describing how small business owners and managers can drive their business growth and profitable development through the creation and implementation of a business plan.

I know the prevailing view among many small business people is that “planning” is for the larger, more substantial business and “they are too busy running their business to have time for planning”. Indeed, many small business owners are “too busy” running the business, but they ignore, at their own peril and survival, that “failing to plan is planning to fail.”

I am convinced that the small business owner will benefit from engaging in this business planning process because of the nature of carefully examining and thinking through the way their business competes and operates; – and how that will align with their determination of “what business they want to be in”.

This business planning process yields a stronger, more profitable business which provides real value to its customers and the marketplace.

The business planning process described in this article is the most logical, pragmatic and practical examination possible of the small business. This process is far from arcane or mysterious, but totally focuses on the reality of the small business environments (the business, the economy, competition, customers’ needs, wants and desires) as well as the determination and allocation of the firm’s resources).

Business Planning Process – Eight Major steps

For the past thirty years, I have successfully used the following business and strategic marketing planning process. The following process consists of eight major steps which are sequential and continuous. I will describe the nature and function of each of these steps.

This process applies to all types of organizations; regardless of size, products, services, or industry…. I have even used this process with a national religious organization.

1. DEVELOP MISSION AND POSITIONING STATEMENT

2. SITUATION AUDIT

a. Internal

b. External

3. WOTSUP ANALYSIS

4. MAKING ASSUMPTIONS

5. DEVELOPING OBJECTIVES

6. STRATEGY DEVELOPMENT

7. SPECIFY TACTICS AND ACTIONS

8. PREPARE FORECASTS/BUDGETS/FINANCIALS

1. MISSION AND POSITIONING STATEMENT

With respect to the definition of your businesses’ purpose and mission, there is only one focus, one starting point; it is the customer or user of your products/services. The user defines the mission of any function or business. The question “what is our mission or purpose” “what business do we want to be in?”, can therefore be answered by only looking at your business from the outside, from the point of view of the customer or potential customer. What the user or customer sees, thinks, or believes at any given time must be accepted by your business management as an objective fact to be taken seriously.

By definition, the customer is purchasing the satisfaction of a need or want.

For example, here is a well-known and real example of a business mission which defined the way in which that company conducted its activities.

A drill bit manufacturer defined its mission as determining “what size holes customers need” their focus was directly on customer needs and not on their product specifications. They were customer-focused and very successful.

Once the mission statement has been completed develop the positioning statement for competitive advantage and prepare the USP – your unique selling proposition. “Why the business is able to provide more effective solutions and greater value than the competitors.”

2. THE SITUATION AUDIT- Internal and External

The situation audit is a description and analysis of past, present and future data (information) which provides the basis for pursuing the business planning process. It is an organized method for:

  • collecting pertinent information
  • interpreting its effect on the business’s environments (market conditions)
  • analyzing significant trends
  • projecting all pertinent factors, which could influence company activities.

3. WOTSUP ANALYSIS

The acronym WOTSUP stands for Weaknesses, Opportunities, Threats and Strengths Underlying Planning. This step flows naturally from the fact base (Situation Audit). The Weaknesses and Strengths constitute an internal analysis, i.e. “what are we at good and bad at?”-

Opportunities and Threats, on the other hand, form an external analysis. From this analysis, objectives can be formulated with specific action plans designed to overcome weaknesses and threats by exploiting the business strengths and opportunities.

4. MAKING ASSUMPTIONS:

Assumptions make planning possible. Without the use of assumptions, planning would be almost impossible. Since planning deals with the “futurity of current decision-making” and events in the future are almost impossible to predict with unfailing accuracy; – assumptions make planning possible.

5. DEVELOPING OBJECTIVES

Overall objectives are the real crux of the Business and Marketing Planning Process. They deserve every last ounce of time and effort – often frustrating. The objectives form the umbrella under which the balance of the whole planning structure is built. Because of the key role they play they must be thought through and be expressed in the most specific and concrete fashion. In simplest terms an objective is… “what do you want to accomplish?” Objectives are prepared to overcome weaknesses and threats developed in the WOTSUP Analysis and to exploit the opportunities and strengths.

6. STRATEGY DEVELOPMENT:

Once the objectives have been developed, the preparation of strategies is the next step in the process. Strategies, must explain, in a broad sense, how the objectives will be achieved.

7. SPECIFY ACTION PROGRAMS:

After the objectives and strategies have been developed, describe the work to be performed. The actions must be very specific; what work is to be done, by whom, how and when.

8. FORECASTS/BUDGETS/FINANCIALS PREPARED:

The action programs when completed form the basis for budget preparation. The cost of each action and the revenues derived from the detailed actions generate the operating budget and cash flows for the Business Plan.

Many organizations confuse planning with budgeting. One important purpose of the budget is to ensure the business has adequate financial resources to function. Budgeting is about not failing, planning is about what is possible.

Small Business Ideas for Entrepreneurs

Introduction

Many people envision the day they start their own business. They know with hard work they will achieve success. That is the easy part. The hard part is coming up with the best idea of what industry it will be in. There are so many potential fields to choose from. Yet somehow, when it comes to deciding on one, their mind goes blank. Here are some potentially successful business ideas for you to ponder.

An Electronics Installation Business

There are a lot of folks who do not know how to install and/or set up the new electronic item they just bought. Either that or they do know how but lack the time to do it themselves. That is where this kind of business can come in handy. You hire skilled installation specialists to go out and perform these services for customers. Everybody wins with this one.

Software Teaching Business

What you would be doing in this case is hiring people who have a vast knowledge of different software programs. Then you connect them with customers whom they can teach to use the programs. This can be done locally on an in-person basis or over the Internet on a remote basis. The more programs one person can teach, the better. You should also seek people with a lot of patience. The prospective students will likely have lots of questions.

Create a Writing Business

Here is another industry that is full of potential customers. For a variety or reasons, scores of individuals are not able to do their own writing. It could be lack of skills, or lack of time, or whatever. Maybe they need a quick article on a specific topic, or a resume or a simple business letter. You can recruit experienced freelance writers to be a remote staff for your business. Then you are ready to seek clients. There is such a huge need for this these days, you are sure to succeed.

Personal Care Associates

What are they? They are individuals who can either care for children, care for special needs patients, or care for elderly patients. Of course, for this type of business, you ought to require that the candidates be properly trained and, at least, certified. Possessing a license is even better. With that said, there are plenty of qualified persons who are not currently employed. There are also oodles of people who need personal care. If you had a business in any of these industries, you could match them up. One more thing to be sure of is that they have the proper personality to assist patients on a regular basis. Someone with a short temper, or who is not a “people person,” would not be a good choice.

Begin a Yard Care Business

It goes without saying that there are already many landscaping businesses out there. That is not what we are talking about here. Full-service landscaping companies can be expensive. You would fill a big need by finding local workers who can mow lawns, take care of plants, rake leaves, shovel snow, etc. Your clients would be residents who cannot afford a large landscaping firm.

Wrap-Up Thoughts

For everybody’s sake, anybody you hire for any of these types of businesses should have an extensive background check done on them with a printable report available. Once that is taken care of, you can hire them and send them out to work.

People, these are merely a few ideas. If you give it plenty of thought, you are bound to think of something your community needs. Remember, the worst idea is the one you have never given a shot. Good luck!

Top 5 Ideas For Starting a Small Business

Are you thinking about starting your own business? Perhaps you’re still employed but would like to start a business on the side. Or maybe you’re a homemaker whose children spend the day in school and you would like to earn some extra dough. Whatever your motivation, your mind must be full of questions about business plans, ideas and startup costs.

There are plenty of decisions you have to make, from broadband plans to business card printing. But for most potential entrepreneurs, the most difficult part of this process is coming up with business ideas. The truth of the matter is many potential business owners never get started because they have trouble coming up with business ideas. If you are lacking that creative spark then this article, which examines 5 ideas for starting a small business may be of some help to you.

If you love cooking then catering is a fun way to combine business with your hobby. Catering can be done on a small scale if you already have a well-equipped kitchen.

Start a consulting business online. Business consulting is one industry that performs well during recessions and if you have the skills and the know-how to help organisations improve their performance, this may be an ideal business for you. The key to success in this business is networking, so pick up the phone and call everyone you know!

Having an online business is the quickest way to the global market from your sofa. But just how do you succeed as a webpreneur? First and foremost, do your research and find out what’s worth chasing and what’s not. By being well informed, you can take educated and calculated risks. You also need to know your market. You will have many competitors so the best way for you to stay ahead is to add value in your service, be it in pricing, quality, quantity or aftercare. A little extra service goes a long way. It pays to learn about search engine optimisation or SEO because this will help you promote your website, which should look fantastic and provide accurate and adequate information. Finally, constantly check the results you are getting and if the business needs to be tweaked, don’t be afraid to do it.

People love working from home and if you have the skills to be a web designer, you can do just that in the comfort of your own home. Although there are many web designers in the market, demand for their services is high and if you market yourself well, you will have a large clientele in no time. One way to get your name out there is to work with complementary businesses. For example, if you’re good at designing brochures, speak to a brochure printing company and come up with a package deal for potential clients.

Are you an avid photographer? With the right equipment this can be a fantastic job for you. Although camera equipment costs a fair bit, you can make a killing at weddings and corporate events.

  1. Catering
  2. Consulting
  3. Webpreneur
  4. Freelance web designer
  5. Photographer

These ideas may or may not work for you so before you start any business, ask yourself these questions,

  • Is there a demand for your product of service?
  • How much money do you need to start your business?
  • How will you differentiate your business from your competition?

New Ideas For Small Business Holiday Marketing

2 seconds after Halloween it seems that all the retail stores put up their Christmas decorations – trying to capture as much of the Holiday market as possible. Typical ways that retail stores use to capitalize on the holidays include extended hours and sales. This is all well and good. Today I want to give you an early present by giving you some novel ways to think about holiday promotions.

Many people are fed up with holiday crowds, which is reflected in the growth of online sales and the decline of some traditional retailer’s sales. There also seems to be a trend towards buying fewer gifts, but those gifts tend to be higher-ticket luxury items.

In the type of marketing we all should be doing ,we start with the customer in mind. What do we know about people this time of year?

– Time is a commodity – there’s too much to do and too little time. – People have more shopping to do than they usually do. – People are under a tremendous amount of stress. – People tend to clean and decorate their houses.

These are just some of the factors affecting people during the holiday season. I’m sure you can think of many more. Take these things into consideration, and take the stance of being a giver.

Here’s an idea I’ve never seen (so I want credit if you use it). If you own a store, offer free gift wrap – nothing new there. While people are getting their gifts wrapped, they get a free chair massage? You could partner up with a local spa, or even a massage school who could also give every customer a promotional coupon. You save your customers time, take away their stress, and create a fusion marketing partnership with the spa.

If you are in a household service business, offer to do additional winterizing services for your customers to save them time. Offer a free holiday housecleaning. If you aren’t in the cleaning business – again team up with a cleaning service.

Give-aways are great. Give away free Christmas trees – depending on where you are you could buy a couple hundred for $10 a piece. The deal could be – spend $100 and take home a free tree. Give away turkeys, or complete turkey dinners – a lot of grocery stores have this promotion.

Everybody gives away calendars, aim for something different but still useful. How about ice-scrapers if you live in the north? Blankets, sweatshirts, caps – are all good promotional items when the weather turns cold.

Holiday cards are great. People enjoy getting them and displaying them. Hardly anybody sends Thanksgiving cards, definitely consider it. In this politically correct age (gasp) you have to be sensitive to people’s religious sensibilities. Send Happy Holidays cards and not Merry Christmas Cards – unless you are absolutely sure your customer celebrates Christmas.

If you have any kind of retail business, think about add-on gifts that might be used as a second gift. A florist might include a free gift-wrapped ornament with a certain level of purchase that can be sent to a different address. Two gifts for the price of one. Buy one get one free offers are great at holiday times.

Use your creativity this holiday season and think about how you can solve your customers’ problems.

Copyright 2005 Marketing Comet

Starting a Cake Business – Ideas to Help You Put Up Your Small Business

If you have passion in decorating cakes and in baking, starting a cake business can be a wise idea and enjoy making money out of your hobby. Indeed, it can be enjoyable and profitable as well if you make money out of what you love doing. If you have the skills and creativity that you need in creating beautiful and delicious cakes, here are some tips and ideas that will help you put up your own business with what you already have.

– Make a business plan. Of course, you can’t just put up a business without having a plan. You have to have a business goal and strategies that will help you achieve them. You have to lay out who you want to sell your cakes to, what types of cakes you want to specialize, and how you will be able to compete your designs to those already existing in the market. With a good business plan, you will be able to answer and deal with the many questions that you will encounter in starting a cake business.

– Assess the cost you need in starting a cake business. Cost is one of the important factors that you need to consider in starting up your business. List down and prioritize what you need to have to put up your business. You may need to hire additional personnel, or get some equipment to make your baking and decorating fast, and consider your marketing costs as well.

– Find your specialty. In the many cake and pasty business already existing, it is important that you can compete with them and you can establish your own name in the business. Try to make your designs unique and find your place in the business.

– Don’t forget that beautiful designs should come with a delicious taste. In the cake and pastry industry, you have to get your client’s taste and impress them with your beautiful design.

– Make you marketing plan. In starting a cake business and in any business, you have to come up with a good marketing plan so you will know how to market your product and reach out to your customers. In these times that competition in stiff in business, you have to be creative in marketing your product. Take advantage of the internet in marketing your business. You can even set up an online cake shop and you make deliveries. Take advantage of marketing your products online. People these times go to the internet to find information so take advantage of internet marketing tools.

Don’t forget to improve your skills and products. It is important to find ways to improve your products. You can personalize, be more creative with your designs and make your customers happy. It is in these simple things that you get customer satisfaction and repeat purchases, so make sure you can offer quality products and services for your clients. If you are mindful of the contentment and joy you can give your clients, then you definitely can keep a good part of the market.

Top 10 Small Business Ideas for 2012

Starting a small business takes a lot of planning and the ability to execute your business plans. Though it doesn’t require a big capital for a small business however you cannot lose your capital as this will cause a serious trouble on the financial front at the same time your future expansion plans. If you have knowledge about how to run a business successfully, you won’t be able to take a wrong move that can affect your business plans. Before we go on further to the small business ideas, refer to the tips for running a small business.

• Can it sustain your everyday expenses and can it profit you.

• Can it raise enough funds to get it running for a long time and can become a profitable venture.

• Is it something that is needed everyday and does it has an appeal to sell on a steady basis?

• Is it something that you know how to do and can you do it well?

• Is it something that you like to do and doesn’t mind you at all doing it over and over again?

Now that we know our objective in putting up a small business let’s go forward and see what are the best idea for small business this 2012.

1. Online business – this may include article writing/blogging, virtual assistant, translator, copy writer or bookkeeper, data entry, etc. This is one of the ideal business ideas for beginners would be to take advantage of various online business opportunities. By doing online data entry and online paid survey jobs, you can earn money per hour for your work. The more accuracy and consistency you show in your job, the more work you will get.

2. Mobile apps development – almost all people nowadays possesses a mobile phone and included on the mobile phone is application that people always uses. Calendars, Alarm Clocks, notepads are some example of applications that are commonly downloaded. Whether this is a businessman, a politician, an artist or just an ordinary person has a lot or even tons of mobile application.

3. Make-up artist or hair salons – Providing either makeup artist services or hair salons is yet another interesting small business idea. Makeup artists are in great demand in the fashion and entertainment industry. If you have the required makeup skills and talent, you can start your own company and do the makeup of television and movie stars. By providing good service, you can get long-term contracts which will increase your revenues greatly. The great thing about hair salons is that they are a sure thing. No matter how dismal the economic climate, women will still scrape together the money to get their hair done, even if they have to let their nails go. So hair salons with talented stylists and well-priced services will still be real money makers.

4. Cleaning services (pool, yard, garage etc.) – A cleaning service is a good business proposition for a person who relishes the idea of cleaning apartments, homes and commercial establishments. Housekeeping is an art and people are typically deterred by the prospect of getting grease, tough stains and odors out of carpets, keeping their bathroom clean and eliminating odors from their refrigerator. Hence, a cleaning service can be a steady source of income assuming that there are no immediate competitors. Otherwise, one would have to spend money on advertising and this may eat into one’s profits. Cleaning services can operate round the clock since residential apartments are generally cleaned during the day while commercial buildings are cleaned after office-hours. Considering that cleaning services earn popularity and goodwill through word of mouth, a job that is well done will rarely go unnoticed.

5. Elder assistant or baby sitting – being a babysitter doesn’t require you to have a license, with more parents needing to work and offering a home based child care can be a great way of starting your own business while taking care of your own kids too. The growing numbers of senior baby boomers also provide growing business opportunities for senior care. In-home care and senior residences are the obvious ones, but don’t forget all the related opportunities such as driving, delivery, catering and cleaning services for seniors who want to stay in their homes. You can certainly develop your own business providing care for seniors.

6. Recycler – the best thing of being a recycler is that you’re not just earning your own money and you’re also helping the environment. Average homeowner doesn’t always know where or how to recycle the stuff they’ve got. A pickup truck are all you’d need to start buying or simply offering to remove scrap metal, old computers, electronics, ink cartridges and other recyclable materials.

7. Event management/party planner – Event management or party planning can also be a good option for a small business. Event planners have to organize a particular event by taking into consideration the suggestions given by their clients. This job requires creativity, patience and ability to get work done from people on time. It can help you be a successful event planner if have a good team of creative professional that can help you organize the event under you.

8. Online selling – whether this is a pre-loved or brand-new stuff you can still earn big bucks. This is being popularized by e-bay. There are still some people who have a whole lot of money and are willing to spend it on the name products that matter. Luxury handbags, scarves, and shoes for women are still selling well, for instance.

9. Social media consultants – With the ever rising of the social media era and the giant social networking sites, such as Facebook, Twitter, and You tube, businesses have been taking advantage of this to gain more exposure for their brands and products. With more than 800 million active users in Facebook alone, business promotion in this top social networking site is now a priority for business owners and marketers. If you have the social media marketing skills that can outsource likes and follows for your client’s business, then this business can help you earn cold cash on the Internet.

10. Pet related services such as pet sitter, pet cleaning and grooming services – Most Canadians and Americans loves pet especially dogs and feeding, caring for them and pampering their pooches a spending priority. Kennels, doggie daycare, dog treat bakeries and dog resorts are few of the things that you may want to venture in.

These are not necessarily ideas for businesses that anyone can start however you can get some idea on the list above. But in my opinion, these are business opportunities that are going to provide real chances to make money in 2012 and beyond. Business that is done right, in the right place and for the right people may be profitable enterprises for years to come. If you’ve been considering a sale in 2012, take your time and do it right. Plan ahead, research your market and stand out from the competition. Knowing the sales process is half the battle. With proper preparation, you can ensure a stress free transition and a financially successful exit from your business.

Best Small Business Tips and Ideas

Deciding to start a business can be one of the most exhilarating decisions you make in your life. We are living in a world wherever everyone wants to make extra money and add to his income. Most people have achieved this by acquiring great business ideas. When one starts up a company, he must be ready to meet competition. It is important to note that you would not need to become rich or popular to succeed in business but have to think smartly. But there are a lot of moving parts and many different elements to consider.

10 basic tips essential to start a business successfully.

Tip 1: Get inspired and Love your idea

Every business begins with an idea you may have imagined of opening your own business for years, or motivation may have hit you suddenly. Nevertheless of the source, the first step of starting your own business is coming up with a business idea. And as important as your idea, you must in love with the idea.

Tip 2: Do Your Research / learn everything about the business

You’ve recognized your big idea, now it’s time to balance it with the reality. Are you truly ready to start a business? Answer the questions below and see what you need to prepare yourself for business. For a small business succeed it must fulfill a need, solve a problem or offer something the market wants.

You can identify this need in many ways by doing research, focus groups, and even trial and error.

As you search the market, some of the questions can be:

• Is there a need for your anticipated services or products?

• Who needs it? (Target Costumers)

• Are there other companies offering similar services or products right now?

• How is the competition?

• Can or how will your business fit into the market?

Tip 3: Make a Business Plan

You need a business plan in order to make your business idea a reality. If you expect to seek monetary support from an investor or financial organization, a formal written business plan is a must.

Even if you don’t need monetary support, a simple business plan can give you precision about what you hope to accomplish and how you plan to do it.

In overall, your business plan should summary your business goals and the inspiration behind them, as well as your plan for realization of your goals in terms of marketing and funding.

Tip 4: Planning Finances

Opening a small business doesn’t have to involve a lot of money, but it will involve some investment.

There are a number of methods you can fund your small business:

• With Small business grants

• By Financing

• With Small business loans

• Or Angel investors

You can also attempt to get your business off the ground by bootstrapping, using as little capital as necessary to start your business.

Tip 5: Business Structure

Your small business can be an individual ownership, a partnership, a limited liability company (LLC) or a corporation. The business structure you might choose will impact in many factors from your business name, to liability, and how you file your taxes.

You can choose an initial business structure, and with time re-evaluate and change your structure as your business grows and needs to be changed.

Tip 6: The Business Name

The name you choose plays a role in almost every aspect of your business, so you want it to be a good one. Make sure you think through all of the possible consequences as you explore your options and select your business name.

Once you have selected a name, there is the need to check if it’s trademarked, currently in use and if stills free you will need to register it. A individual proprietor must register their business name with either their state or county clerk. Corporations, LLC, or limited corporations usually register their business name when the creation paperwork is filed.

These days you need to have a website, so please don’t forget to register your domain name once you have selected your business name. The best domains and more valuable online are the ones ending with .com.

Tip 7: Licenses and Permits

There are a range of small business licenses and permits that may apply to your situation, depending on the type of business you are starting and where you are placed. You will need to inquiry what licenses and permits apply to your business during the initial process.

Tip 8: The Business Location

Setting up your place to work is essential for the operation of your business, whether you will have a home office, a shared or private office space, or a retail location. You will need to reflect about your place, equipment, and overall setup, and make sure your business place works for the kind of business you will be doing.

Tip 9: Accounting System

One of the most essential systems for a small business is an accounting system. Your accounting system is essential in order to build and manage your budget, set your charges, conduct business with others, and file your taxes. You can set up your accounting system by your own, or hire an accountant to take away some of the work.

Tip 10: Promote Your Small Business

As soon your business is up and running, you need to start attracting customers. You’ll want to initiate with the essentials by writing a single selling offer and building a marketing plan. Explore as many small business marketing ideas as you can so you to choose how to promote your business most successfully. Completed these business start-up actions, you will have all of the most important small business bases protected, and be prepared for small business success.

15 Business Ideas to Generate Extra Income

If you want or need to start a side job because you still need to wait a little bit longer to start your own business, here are 15 suggestions for you.

1. Make money Blogging

If you enjoy writing, find a theme you’re passionate about and start a blog dedicated to covering that theme and anything else interesting you enjoy to talk about. All you need is a laptop, some time, and inspiration to consistently write. It can start as a hobby and turn into a business over time. Creating a blog is free, but if you want to look professional it can cost less than $ 12 per month.

2. Buying or selling on eBay

Thanks to internet there are more opportunities to make money than ever to buy and resell products for extra money. There are lots of people buy at a discount and resell them on eBay for profit.

3. Freelance writing

If you’re great with words, you might be capable to find some work as an online freelancer. A variety of publications need online content in the form of product, stories, service descriptions, and reports, and if you have the talent and ability, you could easily be the one to create them. Luckily, all you need is a computer and Internet connection to get started. You can start here freelancer.com

4. Social media expert

Now a day almost everyone uses Facebook, Twitter, and Pinterest, but did you know that many companies are willing to compensate people to support them managing their social media accounts and sometimes you can do it part-time from home. If this appeals you, to find social media jobs you can start by writing companies with a social media presence and visiting sites like Elance.com for opportunities.

5. Proofreading and editing

Do you have strong English skills and outstanding grammar? You may have chances to work as a proof-reader from home. Marketing for this can be hard; seek out those who might actually be able to use your services and advertise directly to them.

6. Virtual assistant

Many companies and individual professionals like having someone who can check and answer their email, organize task lists for them, someone who can update their calendars, and perform other administrative tasks, with minimal communication. The best of being a virtual assistant is that you can offer this service from home with a good Internet connection.

7. Website design

If you know a little bit about web design you can approach small businesses in your community, as they could use a very basic web presence to tell others about their business. These businesses usually don’t have a large budget for websites and create a great yet simple website is for you, get a bunch of clients from your local community, create sites for them, and maintains them for a small fee. You can easily get enough businesses to have a nice side business of your own with a low investment.

8. Affiliate marketing

Certain types of online businesses will pay you to promote their products and encourage sales. If you’re interested in learning more, check out affiliate marketing programs such as Click-bank, Commission Junction, and these websites are trustworthy and you can earn money by posting their products in your blog, website or Facebook. The secret of online business is all knowing targeting the right public and marketing efficiently. It can be overwhelming with all the information available online as more than 50% of the information is just a waste of time.

9. Become a business or life coach

If you are a good speaker and passionate about the business world and able to inspire and encourage others in a unique way, you could marketing your services as a business or even a life coach. Take your passion and expertise to the next level giving advice and suggest actionable steps people can take to progress their professional and private lives.

10. Start a resume writing service

If you’re excellent at writing remarkable resumes that in the end result in people getting the job, contemplate advertising those services. Most of your work will spin around writing, editing, designing, and proofreading, so you will only need few supplies outside of your computer and basic software to get started.

11. App Developer

Web app development is the creation of application programs that reside on remote servers and are delivered to the user’s device over the Internet. Now a day you can do apps with software’s you don’t really need to be a weirdo to do it, you can be an app developer for Facebook for instance and of course you can do it part-time and home based.

12. Business Consultant

If you are high organized and skilled being a good problem solver this job is for you. Companies bring Business Consultant to identify their problems, provide solutions and optimize companies. The only investments are your skills.

13. Data Entry Service

Many companies and online businesses require some type of manual information tracking, creating a vast amount of data entry work. Although there are many work-at-home scams related with data entry work, there are a lot of genuine chances available for genuine data entry businesses. If you are an excellent typist with an eye for detail, a data entry business is a great idea for you.

14. Freelance Writer

If you have the skill to write and inform people in a certain area, you can write small books or guides and sell them online, the biggest books platform is Amazon.com, where you can display your books for free and when they are sold, you will receive a percentage from the selling. Payments are made every month depending on your sales. Investment is only your time to write and imagination.

15. Internet Researcher

The Internet provides a vast amount of information. If you can quickly and efficiently navigate through that wealth of information, and essentially find a needle in a haystack, you can create a very successful business as an Internet researcher. Search for this kind of job online or about a company which is looking for this of service.

I give you only a glimpse what you could do, and these are just a few ideas, but many ideas were left behind.

First of all I advise you to think what you like to do as a hobby or in your free time, why don’t you make profit from what you are doing already?

You have the world as your disposal, but for a business to work out the first thing from all things is, it doesn’t matter what you intent to do, but you have to love it. If you love what you do it doesn’t feel like a job, you will be doing it with joy and this way you will be successful.

There are some side business opportunities that have grown more common in the past few years. And thanks to internet you have much more opportunities, ideas and help to develop your business.

Small Business Ideas: How to Plan a Small Business

Thinking of starting a small business? Planning and growing a small business may seem daunting, but it can be a lot of fun. However, it does require some careful thinking and planning.

You need to learn what it takes to start from scratch and succeed. Weigh all the pros and cons before making any decision.

You are the person most capable of planning, building, and running your business.

First, ask yourself questions, to discover what dream is driving you. Learn how that will be expressed in the business you envision.

* What kind of business do you wish to start?

* What kind of service or products will you be offering?

* What needs expressed by your market, do they fulfill?

* Who will buy these services and products from you?

* How do you plan to finance this project? Do you know where financing can be found?

* How will people learn about your service and products?

* Where will your business be located?

Planning and Decision-Making

Considerable planning, important financial decisions, as well as legal steps, go into setting up a small business.

Financial Planning is vital during the overall business planning process. It includes:

* Financial planning and funding sources

* Pricing

* Record keeping

* Managing costs and expenses

* Cash flow forecasts and monitoring

* Analyzing sales results

* Contingency plans and financial reserves, including long-range financial planning

Operational Planning examines everyday production processes and management issues. Day-to-day business activities are also included.

* Acquiring suppliers.

* Employee hiring.

* Evaluating and choosing production methods.

* Product handling and delivery, etc.

* Choosing reliable, secure suppliers, who can provide raw materials and other quality supplies.

* Decisions about inventory and where to store it.

A legal Framework means the considering and adhering to all legal requirements, surrounding the setting up of a small business. It helps you evaluate the following:

* Types of business ownership

* Business-related legal requirements regarding safety, health, employment legislation, etc.

* Tax liabilities, including income tax, government insurance contributions, and VAT, etc.

Insurance includes numerous measures you have to take to secure your business.

Marketing: How a venture and its products and services, appear to the world.

* Marketing is all about identifying the needs of consumers, and satisfying those needs in a profitable manner. It is essential to identify the level of demand for your services, within the market you have decided to target.

Website: You need to build a website that tells your audience about your business, or helps you sell online. It needs to reflect your vision and commitment to quality.

Networking: The type of people you ought to know, and how you can meet them, so as to make your business succeed.

* Networking is becoming increasingly important for small businesses and is a key part of the marketing process.

* Take an inventory of all your contacts and relationships, seeking out those who can help your business.

Self-Development: Examining your skill set, and what more is needed for managing a successful business.

* Looking closely at your talents and current skill set, to determine what you still have to learn.

* Seeking ways to shorten the learning curve, with assistance from a mentor, a partner, or skilled employees.

* Online or local courses can also be of great benefit.

Future and Exit: In order to promise long-term success, you need to have a vision of how to expand your business into the future. Above all, you need an exit plan. Nothing continues forever, and you need to prepare to take leave of your business in a structure, controlled manner when the times comes.

Conclusion

Owning a business can be very satisfying and is certainly the biggest learning experience of your life. Careful planning, an understanding of the type of business you’ve chosen, as well as the target market it is supposed to serve, will increase your chances of long-term success.

Small Business Secret #3 – Seven Documents All Small Businesses Must Have To Be Successful

When many small business owners start out thinking about building a small business, they are often mislead into believing that the only document that they need to succeed is a Business Plan. In fact this plan is only one of seven documents every small business should have if they ever expect to survive let alone succeed.

Let me explain …

Doc 1. Business Plan

The Business plan, which is what most accountants, lawyers and business coaches will say is the only document that you need is the first document you must complete. I certainly do disagree totally that this is the only document you need, because the actual roll of this document is to summarize the other six mandatory documents that you must have.

The size of your Business Plan document will vary depending on the size of your business that you are either buying or building. Your business plan should contain details on how your business will be run, how you will finance the business, what sort of profit you will make, how you will advertise and market your business, what your exit strategy will be from your business, what form you business will take, where it will be located etc.

If you are going to be buying a Business rather than starting up a new one from scratch, always ask the previous owner to see their business plan. This will give you a good insight into the inner workings of the business and how it got to where it is. One thing to note though, always make sure that regardless of whether you are buying an existing business or building your own, that you create your own business plan so you have a clear understanding of where you are going with this business.

Doc 2. Business Model

A Business Model is usually built using tools like Microsoft Excel or Microsoft Access. The model allows you to apply various scenarios to your business model to see what sort of outcome will occur. This is a fantastic tool for running scenarios and seeing what the outcome would be if certain conditions might occur, like your truck broke down or what would happen to your profit if a certain piece of machinery broke down for a period of time.

The Business Model is also very useful when dealing with organizations like banks or finance institutions. If your business model can show what impacts various factors might have on your business and that you can still survive, then the banks and finance institutions are more likely to give you the money you need.

Doc 3. Marketing Plan

The Marketing Plan document sets out how you are going to market your business. It includes information on the brochures you are going to use, the types of adverts you may use, the frequency of the campaign, the medium you will be using and so forth. The marketing plan provides an in depth look at how you will be marketing your business. Your marketing plan should represent 12 months of operations, that is, you should have developed all of your marketing strategies so that they flow on and build on each previous marketing campaign over a 12 month period.

Doc 4. Operations Plan

Your operations plan is designed to define exactly how your business is to be run. The operations plan should include how to do every task in your organization, checklists on what needs to be done every day, week, month and year. Essentially the Operations Plan defines how your business actually works.

The key advantage of your operations plan is that if at any time you lose a staff member, you can use the operations plan to teach your new staff members the tasks that they need to complete each day.

Doc 5. Sales Plan

The Sales Plan outlines how sales will be undertaken on a day to day basis. How you will be selling your products and services, who your target markets are, your approach techniques to new clients, any clients that you need to contact on a day-to-day basis and what your contact processes are. More so it should define what step-by-step process you follow to convert a prospect into a customer.

The Sales Plan should use flow charts and should also include any letters or marketing material that should be used for a particular sales process.

Doc 6. HR Plan

The HR Plan, sets out the Human Resource structure of your organization. It should include information such as position descriptions, who each person reports to, who they are responsible for, what tasks they are responsible for and any special duties they might have to do during the year.

The HR Plan should also have information in it such as Job Advertisement Templates, approved Position Descriptions and templates, Hourly Rates, Acceptable Work Practices and so forth. The HR Plan sets down how your staff must engage at work and what you define as being acceptable workplace behaviors in your workplace.

Doc 7. Style Manual

The Organizations Style manual sets out how you are going to present yourself to your customers. The style manual includes information on your logos, your business cards, the colors your business will use for its logos, banner layouts, how to place newspaper adverts and what colors must be used, what fonts must be used in Letters or Faxes. The style manual will also set out what information will go onto your business cards, where the logo will sit and what information must be contained.

The Organizations Style manual sets out how you are going to present yourself to the public and what standards you will use. If you have never seen a Style Manual before simply go to any large corporation’s website and type in ‘Style Manual’ and you will generally find one available for review.

After 10 years in small business and a number of small businesses under my belt, the one thing I have learned is that if you do not have these 7 Plans and Documents done prior to creating or building your business, then they will never get done. The simple fact is that small business is incredibly demanding on the small business owner and once the business is up and going, it is highly unusual the owner will ever get the time to go back and create them. Without each and every one of these documents your business will lack focus on what you want to achieve and that is why 70% of all small businesses around the world fail in the first 12 months.

To finish off, I would like to take a moment to summarize the seven documents all small business owners should have before contemplating a small business…

1. Business Plan

2. Business Model

3. Marketing Plan

4. Operations Plan

5. Sales Plan

6. HR Plan

7. Style Manual

Types of Angel Investors As It Relates to Small Business Investments

There is a large misconception that there is only one type of angel investors. However, there are many different attributes that make these individual funding sources very different from each other. This is primarily due to the fact that many angel investors have varying investment objectives as it relates to what they want in a small business investment. Foremost, the wealthiest of these funding sources are looking to make large scale investments into small businesses as they want to generate the highest return possible on their capital. Additionally, these investors typically do not want an ongoing stream of dividends paid to them on a monthly or quarterly basis. However, private funding sources that do not have a substantial amount of small business investment capital are more focused on generating a recurring stream of revenue from your business. As such, it is important that you focus heavily on the type of individual funding source that you intend to work with as this may impact certain aspects of your business including your cash flow analysis and profit and loss statement.

If you are working with a smaller angel investor then you are going to need to factor in the ongoing payments that are associated with your business. As such, you may not have enough capital on hand in order to make appropriate reinvestments into property, tangible assets, equipment, and expanded working capital. If your business has solicited capital from a wealthier investor then you may be in a much better position to make substantial reinvestment into your business while generating a much higher return on the equity of the business. Additionally, one of the benefits to working with a high end private funding source is that you can always go back to them with additional capital requests in the future. They will most likely have the appropriate capital on hand in order to assist you with aggressively expanding your growing business.

In closing, it is very important to discuss exactly the type of angel investor that you intend to find as it pertains to your start up business or expanding venture. It is imperative that you profile anyone that expresses an interest in regards to providing capital to your business on a one time or ongoing basis. Of course, we always recommend that you work closely with appropriate counsel that can assist you in making these determinations as it relates to your ongoing business operations. Additionally, you are going to need to make an appropriate examination of your business as it relates to your total capital needs.

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