« April 2007 | Main | June 2007 »
May 31, 2007
Outstanding Small Business Startup Opportunities
Many more people are trying to achieve their dream of success through their own working online part time small business startup idea. This gives you the much needed extra time and opportunity you deserve to spend with your friends and family while still earning an income. With a small business start up, you will have an unlimited potential for earnings which is directly related to your ability to stay motivated and to market new products or services. If starting your own small business startup is something you want to begin, you will have many opportunities that you can pursue to make your dream a reality.
Gift baskets are a superb idea for a small business startup. Being that you can build gift baskets at home and then have them delivered anywhere in the world, it is the perfect way to enjoy the luxuries and responsibilities of owning your own business while still owning the potential for a good deal of income. The internet along with websites such as eBay have helped to contribute to the popularity of this small business idea since people, your customers, can shop for gift baskets from the convenience and comfort of their own home. If you have creativity and you can turn these creative juices into product which is sent out in a timely manner, you the qualities to be successful with this kind of small business startup for many years.
Selling new and used items on eBay has become another one of the many popular business start up small information resources in recent past years. If you are a person who can sniff out something valuable at rummage sales, yard sales or in the attic, putting these items for sale on eBay can be a very profitable work from home part time jobs small business start up. Basically, you buy the items at various sales, clean them up, and turn an easy profit by selling it on eBay for a higher price. If you are good with crafts, you can make your own things to sell on eBay. If you know basic product marketing and how to attract customers, you are very much on your way to making a moderately to excellent good income by selling things on eBay from your home.
Other opportunities people have decided to start include a cleaning service that they manage on their own. Only a few cleaning supplies are required along with a little basic know-how, and a cleaning service can be a very nice profitable small business start up for self starters and motivated individuals. With societies busy lifestyle nowadays, more professionals and even multi-income non-professionals are hiring services to clean their homes for them and you can quickly cash in on this trend with very little or no training. This is an excellent idea because you can schedule your clients on a weekly, bi-weekly, or monthly basis so you can have a regular, steady income. If your business continues to grow enough, you can hire employees who will do the services for you while you manage the company from home.
Working at home with your very own extra income from home small business startup is fast becoming the new standard in today's electronic society. People are worn out from the busy lifestyles and long work weeks and have chosen to pursue different opportunities. If you have small business startup ideas with a strong desire and motivation, you can create a profitable business which could eventually take the place of your normal "day" job. Or maybe you simply want to keep it part time to supplement your regular income. However, depending on your levels of motivation, experience, and passion, it is possible to create a small business startup which could generate an unlimited amount of income for you and your family.
Posted by David at 2:00 AM | TrackBack
May 30, 2007
Maximizing Your Profits From Resell Rights
There are a huge number of plr and resell rights products on the market today and in fact it is probably the fastest growing area of internet marketing. But why is it that the majority of profits are made by a very small minority? The answer is simple, they know all the tricks and tips needed to sell the maximum amount of products.
With this in mind where do you go to find quality advice and training for maximising your private label resell rights profits? There are a growing number of small ebooks on the market that claim they will tell you everything you need to know but I have been involved in resell rights both selling the rights themselves and products from a resell rights package and a skimpy 60 or 70 page ebook simply can not tell you everything you need to know.
Posted by David at 1:48 AM | TrackBack
May 29, 2007
Tips On Joining Online Paid Surveys
The online paid surveys arena has been under close scrutiny in recent years and it has been cleaned up to a certain degree. However, if you are still considering the paid survey opportunity as a way to generate extra income then you need to do a little homework before you get started.
Get paid to take an online survey...sounds like a great idea and this article will give you some tips on how to get started.
Paid Surveys Online
Gone are the days when you would be stopped in the street and the shopping malls and asked if you would like to complete a survey. Well, maybe not quite but did you know you can complete online paid surveys from the comfort of your own home and earn money. Sure you can and it's easy to get started.
Marketing companies realized in order to get serious and truthful answers from consumers, then they had to offer an incentive. In the past, people would often give cheeky-type answers just to get a survey out of the way quickly but now, companies offer payment in the form of either cash or reward incentives. The information gathered enables companies to plan their marketing campaigns and shortcut the process of finding out what works best.
The Survey Payoff
Don't jump in and join the first paid surveys opportunity you come across. A great way to get an idea of what the industry has to offer is joining a forum or two where people give tips and advice on what's hot and what's not. Be warned though, some of the posts can be very uncomplimentary with some participants having had their fingers burnt.
Let's be honest, steer clear of sites offering you a list of survey opportunities for a fee. You shouldn't have to pay for that information. There are some very useful review sites online such as yellowsurveys.com which provide information on the top sites to consider as well as any new opportunities which come along.
Spend time analyzing each site and look for reviews on them. Obviously some reviews on the so called best sites won't be favorable but these are usually outweighed by reviews from happy participants.
The Value Of Reviews
The reason why reviews are a good guide is because the people giving them are involved in the paid surveys online business. They are more than likely earning a good part time or full time income from the industry and their advice is invaluable. You basically get information on how to shorten your learning curve and avoid making the mistakes which have cost people money and caused privacy issues.
One more thing, some reviews will be nothing more than a front to get you to consider other offers so be wary of these. A legitimate review site is worth it's weight in gold!
Can You Really Earn Money
The idea is to get paid to take an online survey. How much can you earn? Generally, anything from $3 and over per survey. Forums usually offer the highest paid survey opportunities where payments of up to $200 are possible. The more survey sites you join the more opportunities you'll get but it won't happen overnight most don't earn a full time income. As a part time income generator, they can be a good medium.
Posted by David at 9:35 PM | TrackBack
May 25, 2007
Writing A Business Plan For A Bed And Breakfast
A thorough business plan will help you prepare for the life of a bed and breakfast operator, hopefully making it an enjoyable and profitable life.
Since everyone in your family will have to live with the decisions, everyone should be involved in making them. The planning process will include a lot of research and study. Be realistic in evaluating what you can offer potential guests. Ask yourself what potential guests want and how you can bring your wants and their wants together.
Plan Outline
Consider each of the following points as they apply to your situation.
You should first prove to yourself that running a B&B will be a worthwhile venture for you and your family. Some elements of the plan will also be useful if you need to borrow money for the business in the future.
Resources
* Your bed and breakfast home and grounds -- its character, period and/or style, location, facilities, and activities both on the premises and within the community, seasonal or year-round.
* Do you have enough time to operate a bed and breakfast?
* Family members, B&B-related skills, dispositions, and interests.
* Available capital for bed and breakfast start up and ongoing costs.
Goals
* Why are you considering opening a B&B? Merely for financial needs?
* What is your desired profit (net income) over a pre-determined number of years?
* Do your B&B goals mesh with family goals, both long- and short-term?
* Modify and re-prioritize your goals after making your first decisions.
Requirements
* Learn what's needed in the way of licenses and permits in your location: zoning, building and housing codes, health regulations, tax collection, etc.
* Obtain an estimate on the cost for liability and other insurance.
* What are the tax requirements that you'll need to meet? It may be useful to meet with a CPA or a tax preparation specialist.
* What sort of business structure -- sole proprietorship, partnership, company or other -- will work best for you? A consultation with a lawyer may be in order.
Market Analysis
* Make notes regarding the socio-economic characteristics of your targeted guests. Consider what you prefer and/or you will most likely attract.
* Estimate the number and location of potential guests. How far will they come to stay at your establishment? Does your area draw a lot of tourists?
* Consider distances and routes to specific targeted areas close to your bed and breakfast.
* Look at the anticipated trends in socio-economic status for your region.
* Educate yourself about trends in the preferences of B&B guests.
Competition/Comparisons
* Study the quantity and quality of similar bed and breakfasts and attractions in your location.
* How profitable are other local inns? What are the trends? You might not be able to get this information directly, but talk to the Chamber of Commerce to see whether B&Bs in the area are stable businesses or if they seem to come and go.
* Where do your competitors advertise?
Management
* Record-keeping for tax purposes, as well as to give yourself plenty of data to analyse as you work to improve your establishment.
* Start up and maintenance costs (facilities, equipment, supplies and services).
* Pricing bed and breakfast facilities and services.
* Inventory and depreciation record keeping.
* Bed and breakfast standard operating procedures (with assignments).
Marketing
* Image building: logo, stationary, signs, etc.
* Sales strategy: uniqueness, quality, price, location, etc.
* Promotion strategy: type of advertising, agencies and organizations.
Action Plan
* Prioritized bed and breakfast goals (most desired results within six months to one year).
* List tasks required to accomplish your goals. Set deadlines.
* Evaluate needed resources: money, time, labour, etc.
* Prepare an action calendar (with task start dates and completion deadlines).
Evaluate your progress periodically and update your plan. No plan is static. Call on professionals for assistance: a lawyer, accountant, insurance agent, a bed and breakfast organization director, and others you may know.
Additional Resources
* Check out books on the subject of starting a small business, perhaps available from your local library.
* Talk to the local chamber of commerce, visitors bureau, etc.
* Contact any small business associations in your location.
Posted by David at 7:45 AM | TrackBack
May 24, 2007
Prepare for Work At Home Business Costs
Online Business costs are often the reason that many businesses either fail or do not begin in the first place. For some Small business owners, the business startup cost can be so intimidating that they lose their dream before they even get started. For other Small business owners, Internet Business costs can put a strain on the finances set aside for the business. Between paying employees, stocking inventory and finding the time to manage a business, small business costs can be a good reason for a Small business to fail rather quickly. Fortunately, entrepreneurs have access to a number of options to relieve some of the stress of Small business costs.
A business plan is a necessity for obtaining business startup loans and funding for your business. Without one, most banks and investors will not even consider providing you with business startup loans or other funding for your new business. But a business plan provides more than just the opportunity to receive funding. Properly done it is also a blueprint for you to map out your future success in a written plan that you can stick to.
A business plan for the sole purpose of receiving a small business startup loan must contain several components. The first few pages include the Executive Summary and the Table of Contents. After this is the company description. This is one of the most important sections of a business plan. Your company description will give potential investors a short history of your small business along with the future you are planning for it. It describes plans you might have to expand your business. For purposes of getting small business startup loans, this is one of the sections that loan providers and investors are most interested in.
In the company description, you will want to avoid mentioning that your business is a startup business. Startup businesses are considered very risky investments by most investors. As an alternative, outline details of what you have contributed to the industry that you are currently in or plan on entering. Without sounding arrogant, mention some details or things that you have changed or something you have done differently than others in your market that has proved to be successful. Also, discuss how your business has grown in recent months or years and don't be shy about your predicted growth. Your excitement and passion regarding your new business needs to be seen in the writing of your business plan to help increase your chances of getting a business startup loan.
One of the last parts of a well-written business plan, but certainly not the least important, is your marketing plan analysis. This is an explanation of your demographics using facts and figures and a study done about your new, potential customers and clients. This section also explains your advertising plans, especially your target market and how you intend to reach them. This section must show that you have done extensive research, appropriate with your market to ensure that your product or service has a large demand. In order to obtain Home Business startup loans, you will also need to include a sound financial plan, including pro-forma financial statements for your new business.
Small business costs can be a large concern for entrepreneurs and first-time business owners. Fortunately, Small business owners have access to business startup loans as well as other forms of business startup funding to help them overcome their financial stress. A business plan is an ideal way to show investors that you are serious about your new venture and that you know how to make it a success. With a some extra financial help, most small businesses can pull through the tough times and remain a viable business.
Posted by David at 2:22 AM | TrackBack
May 20, 2007
Advice for Small Business Costs
Small business costs can prove to be stressful and frustrating for a first-time business owner. Many small business entrepreneurs are intimidated by small business costs and choose to avoid even trying their skills in a small business for fear of failure. With the many expenses involved with running a business, they are susceptible to failure. Thankfully, you can find several ways to finance your small business to alleviate some of the mounting small business costs.
A business plan is a necessity for obtaining business startup loans and funding for your business. Without it, most banks and investors will not even consider providing you with home business startup loans or other funding for your new business. But a business plan provides more than just the opportunity to receive funding. It is also a way for you to map out your future success in a written plan that you can stick to.
A business plan for purposes of receiving a small business startup loan contains several components. The first few pages include the Executive Summary and the Table of Contents. After this is the company description. This is one of the most important sections of a business plan. The company description gives potential investors a short history of your small business as well as the future you are planning for it. It also describes any plans you might have to expand your business. For purposes of getting small business startup loans, this is one of the sections that loan providers and investors are most interested in.
In the company description, you will want to steer clear of mentioning that your business is a startup business. Startup businesses are considered risky investments by many investors. Instead, discuss what you have contributed to the industry that you are currently in or plan on entering. Without bragging, mention some things that you have changed or something you have done differently than others that has proved to be successful. Also, talk about how your business has grown in recent months or years and show your predicted growth. Make sure your excitement and passion regarding your new business shows in your business plan to increase your chances of getting a business startup loan.
One of the last parts of a well-written business plan is your marketing plan analysis. This is an explanation of your demographics and a study done about your potential customers and clients. This section also explains how you plan to advertise and target your target market. In addition, this section will show that you have done extensive research to ensure that your product or service has a large demand. In order to obtain small business startup loans, you will also need to include a sound financial plan for your new business.
Home Business costs can be a large concern for entrepreneurs and first-time business owners. Fortunately, small business owners have access to business startup loans as well as other forms of business startup funding to help them overcome their financial stress. A business plan is an ideal way to show investors that you are serious about your new venture and that you know how to make it a success. With a little extra financial help, many small businesses can pull through the tough times and remain in operation.
Posted by David at 2:54 AM | TrackBack
May 14, 2007
Great Small Business Startup Advice
Entrepreneurs will always receive unwanted and misguided business startup advice. While some startup advice might be helpful, the overwhelming majority of it can be detrimental to your goals. Finding the best startup advice to heed for success is part of operating a successful small business start up. You can get productive startup advice from expert sources, including your local government and other private organizations that are dedicated to helping first-time business owners get their business off the ground.
One of the best pieces of business startup advice is to get organized. A good day planner or computer software program will help you do this. Getting organized does not just mean planning out your work, but it also means gathering your information and putting it into some type of system. Gather the phone numbers and addresses of all of your business contacts and even potential customers. write down information about each of them so you can refer to it when you speak with them. This gives them the feeling that you are giving them your best attention for personalized service. Also, make lists of things you need to do. This keeps you from being overwhelmed by trying to remember everything.
Another important piece of startup advice is to think of a catchy name for your business. It should be a name that is both easy to remember and gives some information about what your business provides. Once you have decided on a work at home business name, register it with the county that you live in. If the name is already taken, they will let you know and you can think of another one. Have a few names prepared because that will save you from returning to the registration office. Registering your business name is also very inexpensive.
Once you have a business name, you can start advertising your business. One of the best ways to advertise your business is with professionally-made business cards. Any reputable business guide will tell you to have your business cards made by professionals because business cards are the best way to make an impression. Customers will be able to tell if you have gone cheap on your business cards and, as a result, wonder if your services are cheaply done, too. In addition, professional stationary is a great piece of startup advice. It's just a nice touch that will often set you apart from other businesses in your area.
Finally, a good record keeping system is essential startup advice for a new business. The simpler the system, the easier it will be to keep track of your income and expenses. Save all of your receipts, bank statements, and invoices for later reference. Open a separate checking account for your business to help keep the finances separated and in order. Also, be sure to keep track of your profits and set aside approximately 30% of your income for tax purposes. Consult with your local government to ensure that you have acquired all of the necessary licenses and permits to conduct your business legally.
As with any startup small business idea, stepping back and evaluating the initial steps to beginning your business is vital. A business startup guide is one of your best sources for startup advice. While others will spout uninformed advice to you, you can get experienced part time business startup help from many sources in your community. Before searching for this advice, however, getting organized and keeping accurate records are essential for creating success in your new startup small business.
Posted by David at 4:50 AM | TrackBack
May 9, 2007
Small Business Review – Wordtracker
Background to Wordtracker
Andy and Mike Mindel’s introduction to entrepreneurship and starting a business was the business equivalent of being given the keys to their father’s car and driving into a motorway (highway) pile-up.
Immediately after graduating from business school the now Wordtracker (wordtracker.com) brothers were put in charge a small photograph storage business (Arrowfile) that their dad had invested in all of his working life.
Arrowfile was a victim of the dotcom rage and the business became redundant as its business model went out of sync.
“We know what it’s like to sell a business, we just don’t want to go through that again”, says Andy, who as a child spent weekends working with his dad.
Fast forward ten years of the dotcom rage and the experience has shaped Andy and Mike Mindel in a positive way resulting in the creation of Wordtracker, a world beating internet business from their North London home.
Despite US success the brothers prefer to live in London.
“We like being back in London because it keeps us real”, says Mike. “We work with level headed people. It is much better than playing the fame game.”
Wordtracker As A Business Idea
The idea of Wordtracker came to the brothers while they were running Arrowfile and were trying to attract people to the web site.
Break through for Wordtracker was to be seen as the first to market in the US where they are treated like rock stars.
Brief Profile
Seed capital invested in the business by father: £20,000 ($38,000)
Turnover (sales) £1.3m ($2.3m)
Profit £492,000 ($960,000)
The US accounts for 85% of sales
Google search on Wordtracker throws up half a million results.
Wordtracker pinpoints the best keywords to use to attract people to a web site by developing complex software tools that can analyze the most popular phrases keyed into internet search engines.
Management
Chief Executive: Andy Mindel
In Charge of technology: Mike Mindel (older brother)
Inspiration
“Our father has inspired the entrepreneurial spirit in us”, say Andy. “He has made us believe that we could do it.”
Business Culture
Given the growth of search companies such as Google, it’s also surprising that the Mindel brothers have not turned Wordtracker into a much larger company.
“We don’t want to get too big and impersonal”, Mike says. “One of the things we enjoy is our Wordtracker culture. People thrive here. They don’t feel like a cog in a machine.”
Working at Wordtracker has its perks, not least a company policy that ensures none of the 15 employees need to work longer than a four-day week.
Several of the employees use the time to run their own consulting business. The brothers admit “we encourage people to have their own outside interests because we benefit from that”, says Mike, noting that it was one of these days off that a senior programmer hit upon a new data mining technique that helped Wordtracker become 700 per cent more productive at spotting search trends.
Future Plans And Aspirations
Over the next few years Wordtracker is planning to mine the data gathered on web user’s behavior by internet service providers (ISPs).
Unlike the data they’ve been using, which just shows what searches took place, the ISP information shows what websites people visit after doing a search.
The new opportunity created by this kind of information should enable Wordtracker to increase sales from about £2m ($3.7m) in 2007 to £20m ($37m) in 2011 and double its workforce to 30 people.
The brothers are still reluctant to make Wordtracker too big.
“Making a mistake is not a travesty when you are this size, making a high profit margin is”, says Mike.
Business Direction
The most important question Andy and Mike Mindel must ask themselves is what they want from the business personally and where they want to go.
“It looks like a perfect little boutique business”, says Mike Southon, a serial entrepreneur and co-author of the Beermat Entrepreneur, a guide to running startups.
‘it is a personal question for them whether they want to keep turnover less than £20m and have fun with it for the rest of their lives, or push it past £25m ($47m) when they will have to hire pointy-headed people who have worked for large corporations to do all the boring stuff of creating systems and processes.
“If the business no longer interests them they could then cash out.”
David Glassman, a fellow at Cranfield University wonders whether the Mindel brothers need to raise their aspirations, especially if their business has the stamp of approval from of the world’s largest internet companies.
Mr. Glassman believes they could benefit from an “inspirational mentor”, who could stimulate them to think bigger.
Financing Growth Plans
Both Mr. Southon and Mr. Glassman believe there are better ways for the Mindels to raise £2m than a private equity (stock) funding, where they will have to sacrifice some of their stake in Wordtracker. Mr. Southon suggests bank debt. “This is a cash generating business, so they should be able to service the loan themselves.
Incentivising and Skill Retention
Howard Hackney, a part-timer at Grant Thornton, the accountancy firm, believes the Mindels need to think about incentivising their staff with share options.
“They are going to be fairly dependent on their staff, who could easily walk out the door and set up in competition to them,” he notes.
A simple enterprise Management incentive scheme, which would allow employees to buy shares (stock) at a fixed rate and avoid capital gains tax when it is time to sell, should cost between £10,000 ($18,000) and £20,000 ($38,000) to set up, according to Mr. Hackney.
“It is an easy way of bonding people into the business and rewarding them.”
FT
Posted by David at 11:31 AM | TrackBack
May 6, 2007
Balance Your Extra Income Home Business and Family Will Keep from Burning Out
You may want to request that other family members help out with the various chores around the house. Develop a schedule that has everyone helping with tasks at some point. No matter how old your children are, they can help with various chores such as the laundry, taking out the trash, cleaning their room, sweeping floors, or helping with dinner. You should also make sure that you get your spouse to help out as well.
You may also want to consider having a neighborhood teen to come over and help out with the childcare while you are working. If you find someone that you trust without much experience, their rates will be lower, and you will be there in case anything happens. Having a sitter to help will be a great relief, since they can play with the kids and read them stories as well. While it is never very easy to find the balance between family and extra income home business, with some patience and some work, it is definitely possible.
