Posts Tagged ‘small business’
Is Now a Good Time to Start a Small Business?
Posted March 18, 2009 by Bernz
Have you ever had a dream of owning your own business and not having to work for a boss anymore? That is the dream of many employees who wish to have more control over their lives and their finances. With the unprecedented current level of employee layoffs, more people than ever are considering following that dream rather than trying to apply for a new job. Is now really the best time to do that?
Perhaps it’s time for a reality check. Starting a business is often considered to be one method of building wealth. The fact is, however, that 80% of small businesses fail in the first five years, and almost 80% of the ones that survive fail within ten years. Those that make it through the first decade have a solid financial and entrepreneurial foundation that is strong enough to see the business through the tough times. But what if you’re trying to start a business during tough times? It is possible and there is help available.
Popularity: 38% [?]
If you enjoyed this post, make sure you subscribe to my RSS feed!
Tags: business opportunity, entrepreneur, making money, small business
Posted in Career, Financial Goals, Investing Basics, Investing Strategies, Loans, Misc, Retirement Planning, Wealth Building | No Comments »
Starting a small business? Here’s how to keep a steady cash flow.
Posted January 21, 2009 by Bernz
Small businesses are popping up 10 times the average rate due to all the recent layoffs. It’s always fun to learn how people got their business ideas. Many of the ideas aren’t original but seem better because they offer a new spin or cater to an under served market.
Statistics from the Small Business Association reveal that companies with fewer than 500 employees represent 99.9 percent of the 25.8 million businesses in the U.S. Two-thirds of these businesses fail within two years while only 44 percent survive four years. Much of this failure rate is due to businesses closing because they don’t have the necessary cash to keep their companies running. Here are some steps you can you take to maintain a steady cash flow.
Network Strategically. Find ways to pair your services and products with larger companies whose customers share the same characteristics as your target market. For example if you’re a house painter, your business may slack off during winter months. However apartment property managers routinely have maintenance projects, especially when tenants move in or out. A partnership with a larger company can be a bread and butter account.
Popularity: 20% [?]
If you enjoyed this post, make sure you subscribe to my RSS feed!
Tags: business ideas, business opportunity, marketing, small business, start up, startup
Posted in Financial Goals | No Comments »
Small business profit center – how to earn more in a weak economy
Posted December 24, 2008 by Bernz
Raise your rates. That’s right. If you haven’t increased your prices in the last year, then you’re past due for a raise. But before you start charging more; be sure to shop your competition. Knowing who they are and what they offer their expertise and what their customer support is like helps you gage where they’re failing their customers. Fill those gaps and you’ve proved your right to increase your rates to even the fussiest customers.
Create additional income streams. Is there a service that you’re giving away that you could be charging for? Are you giving away small items that cost you money to replenish? Answer yes and you’re wasting money. Instead of giving away excessive freebies consider what services or products you can bundle into packages and transform it into a compelling offer people are willing to pay for.
Get referrals. It’s not enough to ask customers for a name and address of someone else when they’re in the middle of writing you a check. Think about what incentives are meaningful to them and then build a referral program around it. Ten ensure everyone in your company has a role in promoting customer referrals and that your staff is comfortable explaining the referral program and most importantly the benefits that come from using it.
Popularity: 20% [?]
If you enjoyed this post, make sure you subscribe to my RSS feed!
Tags: small business
Posted in Career | No Comments »
Own your own business? Know what forms of business ownership is right for you
Posted December 16, 2008 by Bernz
If you’ve started a small business or home based business you’ll likely experience humble beginnings, however as your business grows you might want to also expand ownership. Let’s take a look at the types of business ownership options and what they mean for you as a business owner.
Sole Proprietorship (or proprietorship). This is a business owned by one individual. All you basically need to conduct business is a license issued by the state where the location of your business is. There are three main advantages of a sole proprietorship: 1) easy and inexpensive to start; 2) they are subject to very few government regulations; and 3) the income the business makes is not subject to corporate taxation.
Partnership. A partnership forms when two or more persons conduct a non-corporate business for profit. Such partnerships may be operated under the form of a verbal agreement or with the formality of a written contract. In either case, a partnership defines the way each partner will share the business’s loss and profits. For example in a limited liability partnership (LLP) or limited liability company (LLC), all partners have their potential losses limited to their investment.
Popularity: 12% [?]
If you enjoyed this post, make sure you subscribe to my RSS feed!
Tags: entrepreneurship, small business
Posted in Misc | No Comments »
Get Updates via Email
Let's Connect
-
Advertisement
-
Recent Posts
-
Recent Comments