How To Start A Business And You Really Make Money In Your Own Business
Don’t let all the difficulties in running a business stop you from starting your business.
Don’t even let those who have failed in their businesses discourage you from making money and succeed in the business world.
Let this article be a great encouragement to you at this moment, it doesn’t matter whether you are now thinking of starting a business, in the process of starting your business or you are already in your own business.
Though it is not that easy to start a business, because there are so many things you need to do before you can really make money and succeed in business.
However, I sincerely believe you will make money and succeed when you are running your own business.
It is because I also believe the moment you decided to start your own business, you already have a very strong determination to succeed in the business world.
The most important thing you need to do now is – read this article seriously many times to make sure you really do one very important thing – a good preparation before you start running your business.
The first thing is to make sure you are truly well-prepared and you really know how to make money and succeed in this intense competitive world market.
The second thing is to make sure you are very confident in running your business and you truly know how to prevent earlier failure in business that is so common in the business world.
Moreover, any moment you feel discouraged when you are running your business, always remember to come back and read this article, it will inspire you and help you regain your self-confident, you will move on confidently until you really make money and succeed in your own business.
Here are the Three Important Steps that I believe they will help you tremendously when you are doing your preparation before you start running your business.
Step One: Preparation
1. Business documentation, accounting and taxes
Get a professional accountant to help you in business documentation, accounting and taxes. It will save you time and effort, so that you can immediately focus on business development to bring in profits into your new business.
2. Focus on one business at a time and make it a great success
Don’t be a jack of all trades, starting many businesses before you really make money and succeed in your first business. You can start another business if you want when you really make money and succeed in your first business.
3. Do your market research before you start your business.
Don’t simply start a business just because you think your new product or services can make money in this world market. Seriously put in your time and effort in doing your market research and know precisely whether there is a potential for you to really make money with your new product or services.
4. Get your success master plan ready
Write down your business vision in your success master plan and put in more details on how you want to succeed in business. Read your success master plan regularly and know your daily progress until you really make money and succeed as what you have written in your success master plan.
5. Learn and be a master in selling and marketing
Don’t start a business until you really know how to sell and market your business ideas, your products or services. Selling and marketing are the two main business activities that will bring in profits into your business.
You have to sell your business ideas, products or services to those who joined you and they are helping you in your business – your sales personals, your distributors and traders. You also have to train them and guide them in the selling and marketing of your business ideas, products and services to the consumers and businesses.
6. Create an effective business system
It will minimise your daily work pressure and stress in running the business. It will also make sure the business work flow is always stable and consistent and you truly give the best standard of services to the consumers. You may also franchise your business to expand your business market.
Make sure everyone in your business organization seriously follow your business system and they truly understand the benefits for them when they follow the system, whether it is a simple checklist or work flow chart and monitoring system. New employee will easily take over the work should someone suddenly leaves your organization. Keep on improving your system to meet the growing demand of the consumers as your business grow and expand in the market.
7. Keep a business capital reserve in your new business
It does not matter how much business capital you have raised for your new business, but keep a capital reserve for two years’ business fixed expenses, because you may not make a profit in the first two years. This will enable you to focus on business development without financial worry until you really make a profit in the business.
8. Always be a major shareholder in your own business
Remember to keep at least 60% of your business shares and always be a major shareholder in your own business. Don’t oversell your business shares in the market if you are using your business shares as an exchange for raising your business capital. Otherwise, even though you are the founder of the business but you will easily lose your post as the CEO – Chief Executive Officer in your own business.
9. Maintain a good physical health condition
Daily exercise, having a good sleep every night and eating a balance diet everyday to make sure your physical health is always in good condition. You will then able to focus on your daily business activity, leading a team of people to really make money and succeed in this intense competitive world market.
Step Two: Start Running Your Business
1. Understand the grand purpose of your emotional feeling
You must truly understand the grand purpose of your emotional feeling and “why it is so important” you must always feel good and happy when you are running your business, so that you know precisely how to allow your wonderful emotional feeling to guide you prevent earlier failure in business and how to really make money and succeed in this competitive world market.
2. Become a great leader in your own business
The moment you decided to start a business, you are already a leader in your own business. As long as you are willing to learn and improve your leadership, you will truly become a great leader, unite and lead your team of people achieving your vision in your own business.
3. Focus on sales and marketing of business ideas, products and services
Your goal in business is to make profit and without making a good profit, very soon you will be out of business. Therefore, you must focus on sales and marketing that will bring in profits into your business.
4. Keep a healthy cash flow in your bank account
Without keeping a healthy cash flow in your bank account, it will also lead you to business failure. Always consult your accountant to make sure you wisely control your business expenses, so that you will never have to face with cash flow problem in business.
5. Create products or services that are truly great and remarkable
Make sure you create products or services that are truly great in solving the consumers’ problems. You must also make sure there is quality consistency in your products or services before you deliver them to the consumers.
6. Do not sell inferior quality products and services to consumers
If you are selling other people’s products and services, make sure you sell products and services that are truly great and remarkable. Inferior products and services will bring more problems and inconvenience to consumers and ruin all your efforts in building the business, and it can also bring you to earlier business failure.
7. Provide excellent services to consumers
Always give the world’s best services to the consumers. Make sure they really feel good and happy when they are buying your products or services and they truly enjoy a long-term good experience in using your products or services. The consumers will be very happy to recommend your products or services to potential customers.
8. Do not expand your business too fast
Seriously put in your time and effort to grow your new business. Make sure your business is stable and really make profits before you think of expanding your business in this world market.
9. Helping the world economic climate to improve
When you are in business, you are also here to help those who are starting their own business and those who are already in business to succeed in business. The easiest way to do it is encourage them to read this article. When many businesses in the world succeed, the world economic climate will improve. Consumers and businesses in the market will have more money to buy your products or services. Your own business will also easily succeed and flourish in this world market.
Step Three: Don’t Give-Up Until You Really Make Money And Succeed
1. Do not afraid of intense market competition
Intense market competition is always good for you and all business people. It is here to stimulate your powerful mind to think and you will then come out with new business idea, new marketing strategy, new product or new form of services to compete with others in this world market. Intense market competition is here helping the growth of businesses and the economic growth of this wonderful world you live, it is truly the wonders of the business world.
2.You must not afraid if your business suddenly turn bad
In every unpleasant situation that is happening in your business, there is always a great benefit for you – it is forcing you to make the necessary changes and you will see an impressive improvement in the way you run your business.
3. Have a strong determination to succeed in business
It is truly your determination to succeed that will help you go through all the troubles in business. It is also truly your strong determination to succeed that will make sure you will not easily give-up until you really make money and succeed in your own business.
1. Read this article seriously many times until you really do a good preparation before you start running your business. Whenever you feel discouraged when are running your business, always remember to come back and read this article, it will truly inspire you to move on until you really succeed in business.
2. You must truly understand the grand purpose of your emotional feeling and know precisely “why it is so important” you must always feel good and happy when you are running your business, so that you know how to allow your wonderful emotional feeling to guide you really make money and succeed in your own business.
3. Sincerely share this article with as many business people as you can to help them succeed in business. When many businesses in the world succeed, the world economic climate will improve, your business will also easily succeed in this world market. Isn’t it wonderful in the world of business?
How to Start a Business – The First Steps in Starting a Business
The internet has made starting a business from the comfort of your own home more possible now than ever before. Although there is nothing easy about being an entrepreneur, it is common knowledge that the outcome of starting a venture is very rewarding. The most difficult part is actually getting started. Some people have business ideas that never leave their notebook. Others just want to own a business but don’t know where to start. Here are some steps to take in your early planning stages.
1. What are you good at? Not referring to what you would like to do but what are you good at now? Do people like your pumpkin pie? Are you a really great accountant? Do you have team building skills that are out of this world? Sometimes we take our own talents for granted because we use them everyday. However, talents can turn into marketable skills that people will pay for.
2. How do you intend to fund your business? Nothing in the world is free. It takes money to make money. Starting a business will need investing. Don’t let having a small amount of capital or not having any capital at all stop you from moving forward. You will invest lots of time when there is not that much money. Having large amount of money to invest still requires time in due diligence to make sure you are hiring the right team to get the job done.
3. Dead set on becoming an entrepreneur but don’t think you’re good enough at anything? Everyone has a skill set, you just haven’t identified yours yet. Think about things that you like and consider start a home based business that offers these things. Home based businesses, also known as direct sales or network marketing, link personal development and growth directly with success. With a small investment, usually less than $500, you can have a ready-made business and become profitable in days. The hugely successful in direct sales usually venture off and start businesses of their own after discovering their hidden talents, learned how to run a business, and now have earned enough money to invest in themselves. Direct sales is a great place to start.
Becoming an entrepreneur is not a journey for the faint at heart. It all starts with an idea, just like anything else. Figure out what your skill set is and focus on turning something that you’re good at into a business. Decide how you can invest into your business. Be it time or money, you will have to invest something. If you do not think you have any business ideas, start with a network marketing company to jump-start your business juices.
5 Things To Consider If You Want To Start A Business
If you’re thinking about starting a business you need to have a clear plan and strategy on how you will achieve your objectives. All too often new entrepreneurs jump in head first without any real plan on what they are going to sell, how they will sell it and who they will sell it to. Here are the 5 basic steps to starting a business in 2016.
1. Get Online
First, if you’re starting a business, you need to get that business on the internet. The growth in the number of people buying online is growing each year. Over 3 billion people has access to the internet and more people are coming online everyday. These are all potential customers. When your business is online you can be selling your products and services 24/7, 365 days a year.
2. Get Some Start Up Capital
Although the cost of starting a business in 2016 on the internet is considerably lower than starting a traditional ‘bricks and mortar’ business, you do still need some money upfront to start an online business. The main reason that most businesses fail is because of the lack of capital. Have a plan in place to allow for financial resources whether it’s from sales, external investors or your own personal funds.
3. Establish Your Unique Selling Proposition
What will make your business unique? The internet is big marketplace and when starting a business in 2016 you need to establish an unique selling proposition (USP) for your product or service. Why should people buy from you, rather than somebody else? If you don’t know, how can you expect your potential customer to know?
4. Know Your Ideal Customer
No business can sell everything to everyone. You need to be clear on who your ideal customer is so that you can create your marketing messages to appeal directly to them. What are their needs, wants, worries, problems or desires? How can your products or services help them?
5. Implement A Proven Business Model
Use a proven business model that will work in your market. If you don’t have one, look at your competitors and see what they are doing. Get a business mentor who can show you how to build your business and move a prospect into a customer. Very often you can learn a lot from people who have been before you in your chosen industry. They can help you to avoid the pitfalls and make your journey to success easier and quicker.
Top 5 Advantages of Starting Your Business Online
Starting a business is risky. It’s the reason why everyone doesn’t have one. It can require thousands of dollars of investment just to get off the ground. 9 out of 10 of all new businesses fail in the first year. Before any profit is made, things like product inventory, incorporation, advertising, employees, accounting, insurance, licenses, commercial space etc. have to be paid for.
Enter the internet..
The digital world has taken away a lot of the risk of starting the business of your dreams. There are still start-up expenses involved in the beginning but they are not nearly as high as starting a brick and mortar business. License and incorporation fees are going to have to be paid online or offline but most of the other expenses can be avoided in the early stages by starting with your online presence.
If it can be sold in a store it can be bought online and shipped to the customer’s home. At the very least it will add an additional revenue stream for the business. There are plenty of advantages to starting a business online but here are my top five.
1. There is no immediate need for full-time in-house employees.
What makes online business so powerful is its scalability; meaning you do a little bit of work for a greater result. With automation tools you can have a lot of your tedious data entry tasks done without you even thinking about it. With PayPal you can accept payments online through your website without you even knowing a credit card was entered.
If you are selling digital products that are to be downloaded then there is no need for pre-ordered inventory or commercial space, thus eliminating the cost of rent.
For when you actually need the assistance of a real human, sites like oDesk.com and Elance.com make it possible for you to outsource work to people on a for hire, monthly or even a full-time basis.
Things like insurance and security are needed for online as well as online but securing intellectual property stored online in the cloud is a lot less expensive than doing the same for merchandise in a store that is susceptible to theft or fire
2. You have the freedom to travel.
There is no need for a physical location in most cases so there is no need to stay in one place. If you need to pack up and move your company to another state where there is more opportunity, it can be as simple as packing up your laptop and accessories and leaving. With a physical ‘brick and mortar’ business, it would be a little more difficult to relocate. You will most likely be constrained to whatever lease agreement you may have in place.
As you know, business and tax laws vary from state to state. Having your operation online gives you the freedom to choose where you want your business to be incorporated. You would have to have some sort of address established in the state but it doesn’t have to an actual store. There are a few states who’s laws work best for the traveling internet entrepreneur. *I am not an accountant or a business lawyer so please consult one before getting started.*
3. The whole world has access to what you’ve got to offer.
You aren’t limited to your immediate geographical area anymore. You aren’t limited to ANY geographical area for that matter. Offering your products and services online opens your business offering up to the edges of the world. The internet doesn’t sleep and there are billions of people online looking for solutions to their problems, while YOU are sleeping.
4. You are at the fingertips of a growing online market.
The internet definitely isn’t going anywhere anytime soon as more and more people are gaining access to an internet connection or a smart phone every second. E-commerce is following the same trend as more and more people are becoming comfortable making purchases online and from their mobile devices. From a consumer’s standpoint, making purchases from the comfort of your own home can save you a lot of time, and for certain products, shame or embarrassment.
5. You can inexpensively test your market.
Not every brilliant idea translates into a consumable product or service. And as you know, the failure rate of new businesses is very high. Another advantage of starting a business online is the ability to gauge interest without actually having the product readily available for sale. One example of this that I’ve seen a lot is a preview or ‘beta’ page with a prototype of a product where people can sign up to ‘be the first to know’ when the product is made available. This can be done with a food product, a clothing line, an app, pretty much anything. It’s a great way to gauge interest before you go all in with a final product.
You don’t need $10,000 to start a business anymore..
There are hundreds of ways to make money online and frankly, who can afford NOT to open up shop to the billions of people on the internet. There are still a lot of traditional brick and mortar businesses that are not providing their products and services online, constraining themselves by business hours and management of on premise staff.
All you need is a website, a product or service and consistent potential-buyer traffic to that website. No permits, no city council meetings, no weather constraints and depending on where you live, no off duty police officer.
Recommended reads: ‘The Four Hour Work Week’ & ‘The $100 Startup’
6 Reasons Why It Makes Sense To Start A Business Online
The internet has made it possible for people from all walks of life to start a business. Regular people can succeed online just as well as the big worldwide business that dominate the offline world. Here are 6 reasons why you can start a business online and be successful.
1. Anyone Can Do It.
When starting your own small business online, it does not matter about your age, your background or where you live. You can benefit from, or leverage off, other people’s knowledge, time, ability and experience. As long as you have access to a computer and the internet you are ready to go.
2. Low Set Up Costs.
The required funding to start a business online is considerably less than a conventional bricks and mortar business. You will need to purchase a domain name and some hosting for your website but you will not have the high costs of renting a physical building to operate from or the costs of inventory or staff.
3. You Can Reach A Huge Audience.
A conventional bricks and mortar business requires somewhere that potential customers within their regional area can easily get to. However, with the power of the internet, you can market your online business to customers from around the world to buy your products and services online.
4. You Can Operate 24 / 7.
A physical business can only function for the period of time that are able to keep the doors to your premises open. It’s not possible for one person to do this all day and all night. However a website is online continuously, and with automated systems you can sell products even while you are asleep.
5. You Can Expand Into New Markets More Easily
As your business becomes more established, you can start to diversify and sell products and services that will appeal to your target audience. This is much easier for an online business because you can source these other products and sell them as an affiliate without having to stock or deliver them yourself.
6. You Can Start It In Your Spare Time
Starting your own business is a big step for any new entrepreneur, especially if you already have day-to-day living costs, like a mortgage or other domestic bills, that all have to be paid. When you start a business online, you can do it in your spare time whilst still working at your normal day job. Then, as your online business grows and becomes more profitable you can start to work on it full time.