You have no doubt seen the ads on the Internet and heard the pitches: “Make money while you sleep!” “Complete Business System in a Box!” “No Investment, No Risk, Make $50,000 a Month in Your Spare Time!” Are you kidding me? Show me a complete business in a box that requires no investment, no risk, makes me $50k a month while I sleep, and I will immediately quit coaching, quit investing, quit speaking, quit consulting, quit lawyering, and quit brokering TODAY -- I’d be an idiot not to! Truth is, no such business exists, so don’t get suckered! Don’t get me wrong, I am a huge fan of personal development and self training and education programs. I personally spend thousands of dollars a year on books, CD’s, seminars and the like – if you are serious about getting ahead you have to commit to investing in yourself first. But while there are legitimate business training courses, books, seminars, and coaching programs out there, you have to do your homework and make sure that you get what you pay for. Yes, you can become financially free, but such a path takes systematic work, commitment, and often a minimum of a year to eighteen months before you begin to see major results. Many people are looking for an easy road to wealth and many unscrupulous marketers purposely design their pitches to take advantage of this weakness in people. Now let’s be clear, there is a big difference between using colorful and emotional language to entice someone to buy a twenty dollar book and using false and misleading statements and testimonials to fleece people out of five-thousand dollars for a training program that turns out to be little more than a hyped-up rehashing of the same old stuff you could have learned about for free in the library -- the first is called salesmanship and the second is called fraud. Before you put your money down be sure to put your common sense into play. So, here are some suggestions for what to look for before investing in an internet entrepreneur home business opportunity, or training program: The bottom line is that there are a lot of good products and programs out there as well as a lot of shysters. Use your common sense before spending your money based on nothing more than hype. That said, don’t give up, and continue to invest in yourself. Your opportunity awaits you! John A. Michailidis, Esq. is an attorney, broker, investor, small business consultant, and author of the WealthLoop Series book, "Beginner's Guide to Building Wealth Buying Houses." Learn more about entrepreneurship, personal development, and small business success at http://www.WealthLoop.com Article Source: http://EzineArticles.com/?expert=John_Michailidis
Beware of Internet Entrepreneur Home Business Opportunities!
Top Tips For Starting Your Own Home Based Internet Business
Who hasn't thought of working from home? We've all had that dream at some time (usually on a Monday morning whilst commuting to work!). With the maturity of the internet, building a home based internet business is becoming a reality for many people. However there is something you should know before you start on your exciting journey to a new life.
I’ve been successfully running a home based Internet business now for over 6 years and I’ve a few good tips that help keep me on track. Let me share them with you.
Get organized.
You are setting up a business, so you really need to be organized. Ideally set aside a room as your office. Stock it with all the items you need. Computer and printer are obvious! However think about stationary and filing. I have a white board next to my PC which I use to write important to do’s. I also have a calendar with all the important dates (eg: when tax documents are due etc).
Be disciplined.
It’s easy to get side tracked working from home. There are so many other things that attract your attention. It’s easy to find you have the perfectly kept house but a failing internet business, so stay focussed on your business. It’s another good reason for allocating a room as an office. You can shut the door and really focus on your internet business.
Family and Friends
If you work at home, it’s easy for Family and Friends to think you are available for other things. “As you are at home today, can you pick up the shopping” etc. It can be really frustrating how working from home can be seen as not a “proper” job. Keep to strict business hours and spend the time working on your internet business. If you waste that time you will just reinforce any prejudices that you aren’t really doing a proper job.
Getting your website noticed takes time
When building a home based internet business you need to accept that getting noticed by the search engines can take months, especially if you are using a new domain. Using Pay per Click can get immediate results but if can be costly if you get it wrong. In the KKSmarts forum we have a Google Adwords Beginners Guide. It will save your time and money.
Learn about keywords
Keywords are king. If you aren’t using keywords properly on your website then you are in serious trouble. Get keywords right and you will sail ahead of the competition. A well optimised website using the right keywords for your internet business will reward you time and time again.
Do it yourself Optimisation
There are many companies offering optimization services. This might be ideal if you really don’t have the time or the inclination. However it can cost you some serious money and it’s not always successful. There are quite a few so called “experts” who are talking a lot of rubbish.
Optimizing your website really is easy. You can do it yourself and once you’ve learned the tricks you really are the best person to do. You know your business. You know your customers and so you know what words they are likely to use to find you.
And finally
Above all enjoy the journey. Enjoy building a home based internet business. This is your dream. Go for it.
by Mike Seddon
Mike Seddon is the founder of KKSmarts. Their Website Promotion Guides help you to really drive traffic to your website. They offer free advice on all aspects of website promotion including SEO, pay per click and more. Their website contains more than just written guides. It is also packed with audio and video guides that really show you how to maximize your web traffic. To get their free advice go to http://www.kksmarts.com
Article Source: http://EzineArticles.com/?expert=Mike_Seddon
.
Small Business Financing: 7 Steps to Obtaining Growth Capital
There are various ways and sources from which small companies are able to obtain financing but it’s important that you know the steps you need to take and are able to ask the right questions as you move through the process.
1. Look Inward. You need to know exactly what you want and what the benefits are to obtaining someone else’s money. Think about the goals of the company and what you are trying to accomplish and even think in terms of how your business helps your community (what problem do you solve). If you started out with one location for example and you want to expand to ten then it needs to be clear how you are going to do that and what it will coast to get there.
2. Do not underestimate the amount of money needed. Even if you are still a very small enterprise but have big plans make sure that the amount of money requested is in line with your goals. Do not be shy in this matter because funding sources will not see you as being conservative but rather unrealistic and perhaps a poor manager. Highball the number; just make sure it’s reasonable given your need for capital, your going to need the money anyway.
3. Get Organized. Now that you know what you need the money for and how much you need it’s time to start talking to people that can help. You will want to set an appointment with your accountant and get your financial statements in order. This applies to both your business and personal financial statements. If you have CPA audited financial statements you are ahead of the game and your eventual funding sources will greatly appreciate that level of seriousness and organization. You need your personal financial information prepared as well because you never know what type of documentation a lender or equity investor will require. Side Note: Do not make the mistake of believing that because the money is for your business that there will be no lien requirements on personal assets such as your home.
4. Meet Your Banker. You know what you want, need, and have the information to back it up. Your banker will be pleasantly surprised to see you so prepared and organized. Your first meeting should be exploratory where you discuss your plans and needs and the bank provides some information on their capabilities. They will most likely ask for the last two year end and interim financial statements and possibly tax returns. Give it to them to analyze and come up with ideas. Your banker can be a wealth of knowledge and great contact source for other service providers even for other funding sources since your bank cannot do everything.
5. Small Business Development Centers. If you have Small Business Development Centers in your state they can be a great resource for obtaining contacts and information. In my state, Maryland, we have an excellent center with branches throughout the state. Here you can schedule appointments with a counselor who can help guide you through the process of obtaining capital and answer questions along the way offering advise on various business matters. It has been my experience that these are very experienced and knowledgeable counselors and not just some half baked state run program. You should schedule an appointment and go meet with them.
6. Get referrals. Your accountant, banker, business counselor, and other business owners all have contacts that expand beyond the bank when it comes to financing. Yes, even your banker will be happy to provide you with contacts for alternative sources of financing that go beyond the banks abilities or risk parameters. He will do this to keep you happy and coming back to him for all your banking needs. Your accountant is constantly bombarded by third party funding sources seeking referrals so he should be very aware who the various players are that cover your market.
7. Invest Wisely. By now you should have at least one commitment letter on the table that will outline the terms of the deal. If you follow these simple steps the funding process will move quickly and smoothly. Once you do, make sure you leverage those funds for maximum profits so that next time the financing process will be a walk in the park.
By Bill Ryon
Bill Ryon is a business finance expert living in Maryland. He has helped dozens of companies from coast to coast obtain the most advantageous forms of financing leading to greater opportunity and profits. For more information you may send questions via email to wgryon26@comcast.net Website and newsletter coming soon.
.
Why do small businesses fail?
Starting a business of your own has a lot of benefits such as being your own boss, facing new challenges, a high growth potential and reaping all the rewards of your hard work, however, success in a small business can never be taken for granted. Entrepreneurs who want to run their own small businesses cannot afford to ignore the difficulty of starting a business. The following are the primary reasons for small business failure
• Lack of planning:
Not having a proper business plan is a major pitfall that can lead to failure of a small business. A SWOT analysis is necessary to be able to overcome difficulties during its growth. A business plan gives proper direction to the business.
• Trying to make a hobby into a business:
Not every hobby can be transformed into business. Before planning to start a small business, the idea must be thoroughly researched for its feasibility.
• Inexperience in managing a small business:
To run a small business successfully it is necessary to be familiar with several aspects of the industry, its trends and possess the skills necessary to market one’s products and services. Inexperience in these aspects can result in failure of the business.
• Poor record keeping and financial controls:
Not maintaining good accounts of profits and expenses, taxes etc is also a cause for small business failing.
• Entrepreneurial enthusiasm:
Entrepreneurs must learn to differentiate between "true opportunities" and just new ideas that are not practical. It is necessary to compare the idea with the business plan objective and see if it the skill and time is really available to put the idea into practice.
• Inefficient money management:
It takes about a year or two for small businesses to make profits, so not having proper resources can hamper the growth of the business. Also, personal use of business funds must be prevented.
• Dependence too much on a single element:
Small business owners must be careful against offering just a single major product service or having just one big client. Though this might be the major source of profits they must think of what might happen when they no longer have the source and try to broaden their horizons.
• Competition:
Competition is a major factor influencing the success or failure of small businesses. Therefore it is necessary to identify the exact nature of competition, their services and how our products/services are superior.
• Poor marketing:
The success or failure of a product can depend on good marketing. Therefore it is important to research every marketing method used and stick to those that are yielding results.
• Entrepreneurial exhaustion:
Having a small business requires patience, capital, time and energy. Not every individual is cut out for it. Long work hours can cause exhaustion and lead to a lack of interest in the business which can stunt its growth.
• Faulty location:
Visibility is very important for the small business. If the store is not easily found by clients and suppliers, profits could suffer.
• Poor selling techniques:
Business fail if owners are not able to get potential customers to buy their products.
• Postponing tasks and improper time management:
Deferring important tasks can be lethal to a business. Staff can be hired if necessary for doing tasks that a business owner doesn’t like to do.
• Inferior quality customer service:
A bad quality customer service such as not replying quickly to emails, phone calls etc can lead to customer dissatisfaction. Also, not giving the customer what he wants may weaken the bond with the small business owner.
by Marvist
Marvist is an Internet marketing research and search engine optimization firm providing professional SEO, pay per click management, affordable SEO, web analytic services to help companies to increase online sales & improve their profitability. Marvist is a fast growing firm and has clients in seven countries. .
Label: Starting a Business
Starting a New Business
Running your own business can be a challenge, but it can also be frustrating. Have you ever seen an business opportunity infomercial about starting a business? One of that voice said some thing like “want you have money machine, call now” or "want to work less and get rich? - call now!". In essence they were saying that if you bought their machine you could stop working for a living and easily get rich.
Not surprised if you find that it doesn't work that way. At first, starting your own business involves more work not less, money paid out rather than taken in and a steep learning curve. In return you can look forward to earning every dime to which you are entitled, being able to direct your destiny and never having to worry about "the boss"
Running a business yourself has both risks and bonuses, with one of the greatest risks being the fact that you are now in charge of your own destiny. There is no employer to provide a paycheck or benefits; it's all up to you. That means that you must make certain that you bring in enough work to take care of your financial needs, something that can create a great deal of stress, especially if you are the only wage earner. Depending on what business you choose to go into you must make sure you have enough money to invest before quitting your full time job.
A successful small business is built at the convergence of a market need and an ability to meet that need. In other words, you need to find something that you do well (and hopefully enjoy doing) that others are willing to buy. Two simple steps to do that, the first:
If you have idea what kind business you will run, you must have business plan. . It describes your business and it's environment and forecasts it's future. More importantly, the process of creating a business plan identifies the challenges and opportunities to come and details the key result areas for success. It determines how much money you'll need and where it will be found. With a business plan you are prepared to win. Without one, you are flying blind. If you haven’t now the business you want to run I will write next article “finding business idea”
.
Label: Starting a Business
