So You Want to Start a Small Business?

The United States is home to millions of small businesses. While many thrive, there are certain risks and challenges that often accompany operating an independent company. If you’re thinking about starting a small business, keep these considerations in mind.

· Create a business plan. When you’re fired up about an idea, it’s easy to overlook the details. A business plan forces you to define your business goals and how you plan to achieve them. It also helps you examine your competition and identify where your products or offering fit in the mix. Lastly, a thorough plan includes the strategies and tactics you will employ to move from ground zero to profitability and the costs and timeframe for getting there.

· Beware of going “all in.” You may have read about people who maxed out their credit cards or mortgaged their homes to fund a business that brought them quickly into wealth. Unfortunately, this is not the norm and the odds are stacked against this financial house of cards. Think twice before putting everything on the line for your business. Invest as much time and energy as you can afford, but avoid overextending yourself financially as you pursue your business plan.

· Test the waters. To minimize your financial risk, consider launching your new business on a small scale before quitting your day job. Many small businesses have been started on the side while entrepreneurs maintain a fulltime job. The idea here is to keep income flowing until your business is viable and you can pull a salary without compromising your income.

· Save for a rainy day. Even the savviest entrepreneurs can get caught in a market down cycle. And no one can predict all the things that might affect your bottom line. Individuals who are in business for themselves are doubly in need of a financial buffer should things take a turn for the worse. If sales falter, you’re still on the hook for your business expenses, and you need to pay yourself too. Build savings into your business plan and keep your credit in good standing so you have access to cash if and when you need it.

· Invest wisely. When you do need to put money into your business, be smart about spending so that your dollars multiply down the road. Hire competent people who are as passionate about the business as you are.

· Protect yourself. Every business is vulnerable to potential risks, and it’s important to think about the worst case scenarios and how you’d handle them. What if a fire destroyed your office? Would your company collapse if you or a key employee were injured? If a customer, vendor or employee sued your business, could you afford your day in court? There are insurance products made to address all of these risks. Factor in adequate protection as part of your cost of doing business.

· Create an exit strategy. When you’re just starting out, it’s hard to envision the day you’ll turn the reigns over to someone else. Succession plans are an essential part of a sustainable business, especially if you hope to sell and use the proceeds to fund part of your retirement.

· Seek financial advice. If you’re serious about starting your own business, get on the right track with financial guidance. Find a qualified financial advisor to look over your shoulder as you develop your business plan and launch your new career. Their financial acumen and fresh perspective can help you steer clear of financial trouble.


5 Reason To Get Started In Online Business VS. Traditional Business

It is so much easier to have and run a business today then it was 60+ years ago. The Internet has opened a whole new level of business opportunity. There is millions and millions of dollar circulating online no matter where you would go, ex: ebay, google, amazon…etc. Today you don’t need so much computer skills or programming skills to make money online. You could either pay some one to make you a professional website (under $1000) or just buy one online, it’s that simple. Where as 60+ years ago your parents had to have 100 thousands of dollars so you could start your own business or you parents had to pass their business to you. So in this page I’ll demonstrate why making money online is much more simple and show the 5 Main reasons and advantages of making money online then the traditional industry style.

Presented by: Eugene from []

1. Investing less money
Today internet has given us a huge advantage compared to 60+ years ago. First of all the advantage to access millions and millions of information, it’s endless. And mainly it has given us the advantage to make money. People make money online everyday and you wouldn’t even realize how until you find the right system. The great thing about making money online is that it give an opportunity to make money for normal and average people that have enough money for a living. Any one could start an online business. It just takes that first step. There is no need to invest $100,000’s to have a huge success. Where as in earlier times, people needed huge amounts of money to start any business so that’s why people never tried making more money then they had already. They didn’t have enough money to invest so it was very hard for them to start a business unless they’ve came up with a 5 billion dollar idea. All that is gone today. Normal people go to college and you wouldn’t even believe how much money they make online while sitting with their laptops between class periods. Today you don’t need so called “business Partners” to rip you off. You do everything on your own because it’s easy to manage. I will mention that first you’ll need to get introduced to they program that you’ll be making money with. So the first advantage I picked in online business is “Investing less money,” that gives the flexibility and a chance for everyone to make thousands every month.

2.No Hassle
The second advantage in online business is obviously there is less hassle then the normal types of industrial businesses. You wake up in the morning and there’s no need to run around to get all the supplies for you store or your production company. Everything is controlled with your finger tips on your computer. Every supply is available online. No need to make 1 million phone calls a day. You focus on what you need. There’s no such thing as making interviews for a job. So this already eliminates you from hassle that lot of business people face and fail on daily. And more to add to this, you don’t have workers to pay. Nobody runs after you to get checks from you. You don’t owe no one anything they owe you, that’s how online business is. And finally you do not need to buy $100,000 tools for your business. In the normal type of business weather you would run a pizza place, auto mechanic shop, smog shop, gas station…etc. you’ll need to buy expensive tools for your business. Forget about paying others so much money, it’s time for everyone else to pay you. Do not kill yourself trying so hard to make your business work, take the easy way “online business.”

2. Easy management
Online Business makes management easy. You are the BOSS! You are the Secretary, President, vice president, editor…etc. Everything is control by you. Whatever you choose you get it. And everything is control in you computer. No special college courses or programs necessary. One of my favorite things about online business is that you do not need to hire any workers. You don’t need to waste your energy on hiring them, bossing them around, and the then firing them. Instead focus on how you could get more money online. There is no such thing as ware house or stores in online business. No managers, no workers and no $100,000 machines and tools. And most importantly no complaining for picky customers. It’s that much easier then traditional business. Everything is controlled from your computer.

Online business gives you options, styles, and more then 100’s and 1000’s of ways to make money. You are flexible. In traditional business if you want to open a pizza place you’ll need to open your store in more populated areas so you would have more customers. That doesn’t happen in online business. People will pay you from all over the world. So forget about finding the right corner or the right street so you could get lots of customers. Second, you are free to choose any type of online business you would like. There is literarily 100’s of categories to make money online. Let it be sports, cars, computers, music you name it, money will come at you from all directions. People are happy to have online business’ because they spend could time with their family and kids more. College students manage to study and at the same time run an online business. So they have enough money for paying for their classes and getting much more on top to spend and/invest. Sky is the limit, you may run more then one online business at a time. It’s much more easier to manage then the normal type of business.

5. Save Time
NO hassle, easy management, and flexibility will give you one more advantage, which is saving time. You’ll realize how good it feels to have free time because most online business require not more then 3 hours a day depending on the business type you’re in. Imagine having a business and you don’t need to run from place to place. Online businesses give the advantage of saving time. Once you have more time most people put it on their business and try to figure out more ways to get money online. Have some time for your family, friends and/or loved ones and still get the money you desire.