4 Tips For Starting a Home-Based Business

More and more people, especially with this economy, are opting for running a home based business.

Some want the financial freedom and want to go full time so they can quit their job.

Others just want the extra income it provides to go along with their job income, making it easier to pay bills or take the vacation they've always wanted.

1. Choose Your Business Model

With the internet, starting a home business has become easier and less expensive than ever before. Just for starters your home business can be:

• Affiliate Marketing
• Selling on Ebay
• Ghostwriting
• Selling your own information products
• Starting an ecommerce site
• Blogging
• Consulting
• Publishing an email newsletter
• And more

With all the options it can be a bit overwhelming and cause you to either never get started or to jump from one opportunity to another without ever giving something a chance to work.

So you must remember that it's a business!

Once you've chosen your home business you need to realize that it is a business and not a hobby.

That means things like scheduled work time as well as a comfortable place set aside for business that allows you to concentrate uninterrupted.

If you spent $250,000 to open a local brick and mortar coffee franchise, you wouldn't treat it like a hobby.

Your home business is no different, not if you want it to succeed.

2. Get What You Need and Get Organized

You need a workspace for your business.

Some of the "stuff" you'll need includes:

• A work space where you can concentrate
• A quality chair
• A computer/printer/phone/possibly fax
• Typical office supplies such as paper and pens

3. A Daily Routine

A big problem with working from home is managing your time. You need to put together a schedule and stick to it so that you maximize the time you do spend on your business.

Your business is a business. If you have two hours a day to work on it, you need a plan. You can't spend that two hours checking email, updating your Facebook page, Twittering, or surfing various forums.

4. Take Action

This is where most people fail. They are always preparing to take action but never quite get to the consistent action taking part.

They either jump from one business opportunity to another, or they spend their time constantly learning, searching for that one amazing secret that will make them rich instantly.

Don't let this happen to you. If you've decided to sell on ebay, get the information you need on that topic and then take action by actually selling on ebay.

The time to start isn't "someday" or when you get through the holiday season, or after a busy stretch at your day job, or when you learn X! The time to start is now!

Click here real work at home business for a free multi-media course where you'll learn the real, behind-the-scenes internet marketing secrets that show you step-by-step how to create an income producing niche web business that generates massive amounts of free traffic, thousands of hungry subscribers, and multiple streams of income, 24/7! Need a Small Office Phone System? Article Source: http://EzineArticles.com/?expert=Gregg_Gillies

3 deadly question before start your homebased business

Are you one of many people who have been in paid employment most of their lives and now yearn to start your own business? Nowadays, working from home has a great appeal. But do not underestimate the thorough preparation and research you will need to do beforehand to ensure success.

Ask yourself these three questions before you start your home-based business:

Q1. How much will it cost to set up the business you have in mind?

For example, if you are considering an online business you need need to purchase a few features for your business such as, a hosting account. You will also need a domain name, so your ideal clients can find you. Do not forget the e-commerce shopping cart which you will need to process online transactions.

Q2. What are you going to sell?

This can be the hardest part of the equation as you need to be sure there is a hungry market out there for what you have to offer. After all, there would be no point in offering products or services if no-one was interested in buying them, right?

You will need a thorough understanding of your target marketing and demographics.

For example:

* what age group are you selling to?
* are your products and/or services geared to men or women, or both?
* will your market be local, national or international?

A good way to get a feel for what people are buying is to go to the auction site eBay, or Amazon and search under their 'best sellers' lists in your particular niche area.

Q3. Do you have sufficient knowledge of technology to run an online business?

* are your technical skills up-to-date, if not, who can you improve them?
* can you find a professional web designer if you lack technical skills?
* do you understand the process of selling remotely online?

Before starting your online business you need to do your research and demonstrate due diligence on how you will fund your business in the early start-up stage. More importantly, who are your ideal customers, where will you find them and why should they buy from you?

And now I invite you to visit my blog to discover more tips and techniques to start a home-based business at http://www.OnlineTechnologyMadeEasy.com

Article Source: http://EzineArticles.com/?expert=Irene_Houston

Get Your Online Business System a Fast Start

On a latest survey, 75% of Americans plans to start their own business in the next 3 years. If you are one of them, you must consider 3 major decisions you will have to make. There are many things to consider like your start up money, if you will need any equipment, products and your skills that will make you successful. But before you make those decisions, you must consider 3 things for your business. The fact is that these 3 decisions will decide if you are going to be successful but also how fast you will succeed in your online business system.

You must decide on your business model, your niche and your marketing strategy. Let's explain each key to your online business system.

Business Model:

What do you want to do? What are you good at? Knowing this will go a long way in deciding if you are going to sell material products, digital products, memberships etc. Your selection must match your skills and talents. You will be working many hours on your online business, so if you are good at a particular skill, it will make your venture much easier.

Niche:

You will require to conduct a lot of research to figure out what is your niche or your market. You must be diligent and accurate when making your choice for your online business system. Choose something that you have an interest in with a potential of good profit in the end.

Marketing Strategy:

After you made your decisions on your model and niche, you must move towards setting up your marketing campaign or strategy. There are several ways to advertise depending on your budget. If you have just a little money or no money to invest in marketing, you can start with article marketing, blogs, videos etc. If you choose that rout, learn the INS and out of advertising with these techniques. Not knowing out to keyword optimize for example, will make it very difficult for you to have a successful marketing campaign.

Starting an online business system has to be done with a lot of planning and specific steps must be followed on order to start fast. 97% of the 75% of people who will start their online business system will fail. They will fail for many different reasons but the main fact is they will fail to plan the 3 keys we just discussed. Remain confident but realistic. Not everyone is successful immediately and you may go through a trial and error stage but be committed to your own success.

To conclude, the biggest reason people fail in their online business is they quit after a short time because they don't see immediate results. That is the biggest mistake somebody can make. Be committed and learn with each step you will take. Some people learn faster than others so be patient but use intelligent patience. For example, some marketing you may do may only get you a little bit of result. That does not mean you need to change your campaign but may be it just needs a little tune up. To finish, make your start up cost match you skills set for your online business system. Business Model, Niche and Marketing Strategy, start with these 3 keys and then focus on the other areas.

If you would like to learn more about starting your online business, please visit http://7figureincomethisyear.com/.

Article Source: http://EzineArticles.com/?expert=Ghyslain_Lefevbvre

Online Trading, an Choice for International Trade

This article is make my mind thinking and not limit the potential of making business online. There is more easy and cost effective to start the business. I agreed with the author to open your mind and look for the opportunity. enjoy and think your reading..... Multinational trade is exchange of capital, goods, and services crosswise worldwide borders or territories. In the most of countries, it presents a significant contribution of gross domestic product (GDP). While worldwide deal has been demonstrated throughout a lot of history (see Silk Road, Amber Road) the economic, cultural, and political importance has been connected the rise in last centuries. Industrialization, manufacturers, advanced transportation system, globalization, international corporations, and outsourcing are completely having a major affect on the international trade scheme. Trading globally generates consumers and nations the opportunity to be displayed to goods and services that are not gettable in their personal nations. Most every form of product can be found on the worldwide market: food, garments, spare parts, oil, jewellery, wine, stocks, currencies and water. Services are also traded: tourism, banking, consulting and transport. A product that is traded to the transnational market is an export, and a product that is bought from the transnational market is an import. Imports and exports are reported for in a country's current account in the balance of payments. According to the U.S. Department of Commerce, big companies create up around 4 % of U.S. Exports which means that 96% of exporters are smaller companies. Why is world trade so essential to begin smaller businesses? In many causes, the merchandises or services you may care to market are not gettable or created in your internal country. For good example, think about dealing cashmere sweaters. You may need to turn an importer in order to compete with established merchandises traded by your competitors. Online business can frequently begin trading internationally with very low effort. The nets has changed matters. Your website can be your store window in any number of nations. You don’t demand a physical front in all territory to deal there. A Report by Georgios Papastamkos, MEP on World Trade on the cyberspaces emphasized that the online circumstances for smaller and medium-size enterprises are particularly positive since they gain more chances to get across established commercial systems instead than they got even a decade ago. Enterprises are effective to set their nets sale stages easy, speedily and at small cost, thereby achieving a higher stage of competitiveness. If your business is running in a niche, with a relatively smaller internal market, expecting to new countries can assist you widen your audience with surprisingly low effort. And if your goods or services attract to a wider audience, entering foreign marketplaces generates you the probability to gain a large number of potentiality recent customers. It could genuinely boost your gross and earnings. Yet, in a bigger market there will be more competitor from local companies. It can be heavy to catch up on cost or fulfilment when sending internationally, so you might have to alter your proposition to have an impact. It’s not just for manufacturer but for consumers are also receiving benefits by online trading,. Since they enjoy a very bigger option between goods and services, competitive pricing, smaller living costs and a greater quality of life, they also don’t demand to go outside to surf all merchandises and services even from wholesale providers. They are today improve capable to compare productions and services since they have access more information on online trading.

Author Resource:- For further information, visit chalo.biz, an India marketplace designed to help companies in finding business partners from all over the world

Article From New Ezine Articles

Home Based Business - Should You Start One?

Are you thinking of starting up a home based business? The thought is ideal. Who doesn't like the thought of working from the comfort of their own home? While there are many pros to a home based business there are also some things that you may want to consider before making the jump. Here are the top two things to consider very carefully.

What Will You Do?

There are so many types of businesses you could start and run out of your home that it can be overwhelming digging through the information. So to narrow down your choices you will have to dig deep and look at what types of skills you have and what you enjoy doing. All business ventures should always start with thinking about what you could see yourself doing each and every day. What drives you to get up in the morning? What motivates you to be a better person? What are you good at doing? You can find a lot of ideas by browsing the home business section at entrepreneur.com.

Another important thing to consider is that every business sells something. Whether you sell a service or a product you are bound to sell something. When most people think of selling they automatically think about the typical sleazy used car salesman. However, selling does not have to be that way at all. One way to cure that thought or others like it is to always think about the benefits of your service or product. How does your service or product help your customers?

How Much Will It Cost?

One of the perks of having a home based business is that they do not cost much to get started compared to traditional types of businesses. You do not need to go out and buy a building or hire a full time staff. In fact, there have been many successful businesses that bootstrapped it all the way to success. Even though the cost is lower this does not mean that it will not require any money at all. There will be things you will need to purchase. For example, no matter what you choose to do you will need to invest in marketing and promotional materials to get the word out about your new business. This could be a website, brochures, or some air time on a local radio or television station.

Another aspect to consider is that in the beginning you might not make money or even take a loss. Will you be able to continue paying bills during this beginning stage? Do you have enough money saved up to keep you going? Will you work outside of the home part time and work your home based business on the side for a while?

By carefully considering these two things plus working really hard you can easily set yourself up for a successful future!

Jason writes articles on many different subjects. Visit his latest websites at Fire Bowl and Lemon Juicer today.

Article Source: http://EzineArticles.com/?expert=Jason_Stoops

One-of-the-Easiest-Home-Business-Ideas

Do you want to know what is the easiest way to get your own home business? Many people want to start a home business. Many of those that do, do one thing. They buy already made business, in other words, they buy already made product that's ready to be sold. All you have to do then is set it up and you are in business.

This is concept of selling already made products is common on the internet. So common that many people got into it. It means you can get great prices because so many people are offering the same products, but also many are of really bad quality. They are called Private Label Rights--PLR.

This gives you 2 problems. How to find as cheap as possible and how to find quality products that are worth the money. Well, you can get your own product ready to sell for as much as $37 per product. Or even cheaper if you buy more products in one package. When it comes to quality, try to get some kind of a preview. Maybe a few pages of the eBook, or a sample of the audio or video you are buying. This way you will always know what you will get.

Check the price. If it's too low then it is not worth that much. For 10 products, that you can sell yourself and name yourself as the author, $197 is a fair price. Many people are offering 30+ products for as low as $97 or even less. Don't buy it and if you do, don't expect it to be useful. Those products have no value, their only destiny is to use the space on your hard disk.

Always look for products in limited numbers. Quality is preserved that way. More limited it is, more value you will get. 300 or less is usually acceptable. Less than that is not. As I said, quality is the key here. There is one more thing. You have to know how you are going to implement your newly acquired product. Let's say you are thinking about buying a "How to clean my dog" product. Make a research of the market to see if people are looking for that particular information.

This is it. The only thing you have to do to have your own home based business is to buy it. Nothing else is required. Then you just sell it. There are a lot of ways how to do that and you don't even have to spend anything.

To make it even easier for you, I have found a great website with quality PLR products that you can buy and download in a matter of minutes. They always have limited offers to small amount of people. Visit: http://www.privatelabelpackages.com/ and check their website for the latest packages. Buy it, download it, set it up and start making money. It's that easy.

http://www.privatelabelpackages.com/

Article Source: http://EzineArticles.com/?expert=Matt_Verjand

5 Important steps to start your Home Based Business

Step One
If you plan on starting a home based find something that will excite you. If the prospect of earning multiple streams of income excites you then go for it. This is optimal way of making money. Or you may decide to go for something that interest you.You can also gain knowledge from the masters, they have much needed information and they have also experienced the high and lows.

Step Two
If you plan on starting a home based find something that will excite you. If the prospect of earning multiple streams of income excites you then go for it. This is optimal way of making money. Or you may decide to go for something that interest you. This is where more research comes in, to see how competitive the market is. If there is a lot of competition you might want to choose something else, but there is also ways to earn money even if there is a lot of competition.

Step Three
Be prepared to put some work into it. The quote you can do it in your underwear or pajamas creates the image that you set up a website and money starts rolling in. While you can do this in your pajamas if you so desire, remember it's a business and it won't succeed if your not in the right frame of mind. Also do it during the day when you are energized and give your full attention to it, turn the TV off, the phone or anything that may distract you.

Step Four
Invest in yourself!! Whether it is time or money. It is going to take time to get a business up and running so be patient. You can invest a lot of money into the business, but if you do your research you will find that it's a lot less than you think. If your unsure and need extra help you can get a mentor to help you, but that can be expensive. Check your local paper for someone who can help you, mentoring long distance isn't always the way to go. And someone local could be cheaper.

Step Five
Have fun with it!! You already use the internet to conduct searches anyway. Whether it's to look up the latest news, sports, or other searches that interest you. So why not use this as a tool to help you grow a business. Do you use Twitter? This a helpful tool in promoting your website. Do you like to write? Writing post or articles are also tools to help. Even if you don't like to write there are people that will write articles for you. Again do your research, how to blog, post articles, and advertise.

Ardell Nagle is the owner of http://www.ArdeeSalesSytem.com and reviews popular home business ideas and opportunities. Ardell's most popular home business recommendation is the Plug-In Profit Site at: http://www.ArdeeSalesSytem.ws where you can get your own money-making website setup in 24 hours!

Article Source: http://EzineArticles.com/?expert=Ardell_Nagle

Home Based business motivation

From time to time during the life of our home business, each of us will find ourselves in a rut of boredom, disinterest and frustration. We seem to lose that excitement we once had, and find ourselves feeling tired, irritable and unmotivated. We want to hide under the covers rather than face the day. Perhaps you're frustrated because you're not seeing the progress you hoped to, or you are feeling overwhelmed by the number of tasks on your To-Do list. Perhaps you just need to infuse your business with a breath of fresh air.

Whatever the reason, know that you are not alone. We all go through periods like this at some point. We wonder if we're crazy for wanting to work at home, be our own boss and stretch our limits. Maybe we should just toss in the towel and get a "real job." It would sure make life simpler, wouldn't it? But wait, let's not give up quite yet! We can do something about these feelings, and infuse our business with life and joy again. Here are some tips to help you break out of the rut:

1) Take a "Time Out" - Prolonged stress can wear us down and zap any enthusiasm we once had. Before doing anything else, take a few minutes to breathe and just BE. Empty your mind of all stress and worry. This takes practice, but don't give up! As thoughts come into your mind, gently push them back out and continue to keep your mind empty and calm. Take slow, deep breaths and let all of your muscles relax. Sit quietly and recharge your batteries. Try to do this daily, or even twice daily (morning and night). We need quiet time as much as we need anything else in life. Give yourself the gift of inner peace. Making this a habit will help you stay calmer during moments of stress.

2) Get Inspired - Read something motivational, inspirational or uplifting. Look at some beautiful nature photos, or read something humorous. Read self-improvement books and business success stories. Choose to consciously move your thoughts to a more positive place. Focusing on nothing but work and our daily tasks in life can leave us feeling pretty uninspired. It's easy to turn it around if we want to. We just have to seek out things that will lift our spirits and our moods. Make it a point to laugh, be happy, joyful and lighthearted each day. Don't wait for inspiration to come knocking on your door, go out and find it, or create it. Conjure up some funny or touching memories. Write them in a journal so you can go back and read them when you're feeling down.

3) Get Excited - Think about the reasons you started your business, and rekindle the enthusiasm you once felt for it. When we first begin a new project, or start a new business, we are excited about the possibilities and eager to get moving! Over time, we can lose that enthusiasm for a variety of reasons. Travel back in time for a moment, and think about what got you so excited at the beginning. What made your heart beat a little faster? Recapture that feeling and hang onto it! Even if your daily tasks aren't anything to be really excited about, at least think of some positive benefits to doing them. For example, list the ways they will benefit your children, your spouse, yourself, your work or your home. Identify the payoff, and focus on that. Even mundane tasks have some benefits. Sometimes it's just a matter of switching our mindset to see the positive side.

4) Baby Steps - Sometimes the hardest part is actually getting started. A project seems so monstrous that we cringe at the thought of all that time and energy we'll have to expend. Instead of overwhelming yourself, start small. Set a timer for 15 minutes and just start working on it. Allow yourself to stop after 15 minutes if you really want to. But most often, once we actually start working on something, we won't want to stop. It's just a matter of tricking ourselves into starting. Don't focus on the big picture, look at the smaller details and take them on one at a time. Any large task seems manageable once we break it down into smaller steps.

5) Care of the Body - Sometimes our feelings of fatigue are caused by physical deficiencies, not mental. Be sure you are getting enough rest, eating food that nourishes your body, drinking enough water, getting enough exercise, etc. Especially when we're very busy, we tend to grab the quickest, easiest meals, which aren't always the best choice for our bodies. Eating a lot of highly processed foods and sugar is like putting watered-down gasoline into our cars. In order for our cars to run smoothly, we need to maintain them properly, and so it is with our bodies also. Remember, the body is the vehicle for the mind and soul! ;-)

Finally, remember to reward yourself from time to time, and be gentle with yourself! There will always be things that "need" to be done. But some of us take on way more than we can handle, and our lives turn into a pit of drudgery because of it. Try to eliminate the things that truly don't bring you joy, or at least minimize the time you spend on them. Do what you can, and let the rest go. Or ask for help. Don't feel you have to do everything yourself.

Remember that motivation, just like happiness, is something we CHOOSE. We may need to give ourselves a little push at the beginning, but once we get into the right mindset, it's simple to stay there if we choose to.

Article Source: http://EzineArticles.com/?expert=Wendy_Betterini

A small tips to keep your business going

It seen a long time not update my blog. Just take a little time off to energize and restart the things. We need to create new strategy if current not work as what we plan. I do work from home,and some time feel disorganized. Just to share some tips to re-allign the course and target.

If you work at home on your own business there will be times when you get frustrated and impatient, and you just feel that things are not progressing as much as you want them to. Sometimes you just get sick and tired of sitting in front of the computer. Sometimes you want to throw your computer out of the window. It is at these times that you need a few motivation strategies to get you excited about your business again and back in harmony with your computer. Here are ten for you.

1. Get back in touch with your original reasons for starting your business. What was it that got you excited and had those butterflies fluttering around in your stomach? What was it that got you leaping out of bed in the morning? Start thinking about those reasons again - write them down and think about them every day. If you've never felt like that about your business, perhaps you need to rethink and start on something that does excite you.

2. Review your goals. You do have goals don't you? Setting motivating goals give you something to move towards and should inspire you to get working. If your goals no longer excite you, or if you are not moving towards them fast enough, perhaps you need to review them and make them more specific and powerful.

3. Review your plan. In order to get to your goals you need a plan. This is like a road map to get from where you are now to your where you want to be. Would you ever set off on a long journey to somewhere you've never been without a map? Well, that's what you're doing if you don't have a plan. You need to look at your goals and work out how you are going to get there. What are the steps you need to take to reach your destination?

4. Clear your clutter. Does your desk look like a war zone? Do you know where to find anything? Trying to work in a cluttered space drains your energy and is very demotivating. Take the morning off to clear away anything that does not help your day to day work. With the extra space you will feel refreshed and energised.

5. Clear your head. Is your mind cluttered with lots of negative thoughts about your business? This is just as bad as having a cluttered desk! Catch yourself in the act of thinking in a negative way and list some positive affirmations instead.

6. Reorganise your schedule. If you are feeling demotivated because you are overwhelmed by all the tasks you need to do, try re-arranging your daily schedule so that you are not giving yourself too much to do each day. Put the most important jobs at the top of the list and leave out anything that does not drive your business forward. Simplifying your daily schedule will relieve the pressure and allow you to re-focus.

7. Take a break. Sometimes all you need to refresh your mind is to get out of the house or office, go for a long walk and think about something that has nothing to do with business or work. Or arrange a short holiday and sit on a beach for a couple of days. Sometimes it is necessary to stop thinking about work for a while in order to get back into it.

8. Listen to motivational tapes. Buy some CDs of your favourite motivational speakers and listen to them every morning, or whenever you need a lift. Alternatively, read some books by people like Anthony Robbins,Dr Fadzillah Kamsah, Dr.Tengku Asmadi etc

9. Have a laugh. There is nothing like a gut-splitting bout of laughter to clear out the cobwebs and refresh your mind. Get together with your best friend and have a good laugh remembering old times, or hire your favourite comedy film or sitcom and laugh until you cry.

10. Find a life coach. If you are finding it difficult to get motivated despite all of the above, hire a life coach to help you find what motivates you and whether you need to re-think your business or career.

These are just ten good motivation strategies that can help you to get back on track. Of course there may be others, but these are the ones that work for me. If they don't work, you need a long vacation!

6 Key steps to achieve your goal

It’s coming to the end of first quarter 2009. While it’s good to set your goals for the every new year, do you review your goals?. Most people never actually achieve their goals. Why? The simple explanation for that is two fold. One, most people do not set clear goals and have a very vague idea of what their goals is. The second reason is most people do not take steps to achieve the goals they have set. In a way, the second reason is dependent on your goals. If you only have a vague idea of what your goal is, then it becomes almost impossible to take steps to achieve your goals. The following 6 key steps will help you achieve better results with your goals: 1. Set a specific goal. Setting a goal that is specific allows you to have a clearer picture of what you want to achieve. For example instead of setting a goal of I want to be rich in 2009, set a goal that you want to earn $100,000 in 2009. I find numbers and figures when setting your goals makes it more achievable and more easily attainable. 2. Set a timeframe for your goal. Every goal you set must have a timeline. The reason for that is so that it can be easy to assess whether you have achieved your goal and if not, the reasons why and how far off to your goals are. Setting a timeframe also motivates you to meet the deadline and to take necessary action to meet that dateline. If you do not set a time frame to your goals, you probably end up chasing that dream for the rest of your life. 3. Set A Realistic Goal. Your goal should be realistic and achievable in a timeframe that you set. Setting a realistic goal makes it more achievable and real rather than a fantasy. It’s not a bad thing to have high goals but you may need to tweak your goals as you go along if you find that it is not realistic. 4. Chart Your Progress It is important you establish short term goals or what I called landmark goals that determine your exact position on the goal you are setting. For example, if you aiming to earn $100,000 a year. Set a short term goal of $30,000 in march, $60,000 in june and then see if you met your short term goals. Doing this allows you to determine whether you are exceeeding or lacking behind in your goals. Then you can take extra steps to catch up. 5. Be prepared For Obstacles Many a times, you will be faced with obstacles along the way to your goal. It’s perfectly natural and do not get discouraged or frustrated. One of the greatest achievements you can accomplished is to overcome these obstacles. Even if you did not achieve your goals, take it as a challenge for your next goal. The point is never give up. 6. Give A Reason For Your Goals Sometimes, setting a goal by itself is not sufficient to motivate you. Deep down inside each of us, we have a personal reason for setting that goal. For example, setting a goal of earning $100,000 a year. The reason could be so that the family can live in comfort and the children can have the toys they always wanted but couldn’t have. If you can follow these simple 6 key steps, they can give you the drive to succeed in your goals and in life as well. Goal Setting may be cliché but if you follow and take steps to achieve it, you will achieve the goals in life you wanted.

Keep Business Going

Do you remember your first day as a business owner? You were probably just like the rest of us... pretty darned happy and bit on the proud side. Yeah, back then we thought we could conquer the world. Now we're too busy conquering our own little corner of the world to pay a lot of attention to the rest of the world... unless it's to learn a few tips from successful marketers just like us who have made it big. Tips just like these... that will apply to every market - regardless of the product or service - and are great motivators to try something new. Yeah, you never know when the next idea will be worth a million ringgits! 1. Create a Special OfferA special offer is exactly that... an offer that is special. Normally, customers would not be able to purchase this product or combination of products, and once the products are gone... sorry!You don't have to go out and order a bunch of new products to put together a special offer. It don't take a whole lot... just use what you've got. Grab a few items that are related, group them together, discount the price, and your customers will be excited to be getting a good deal. Think about it from your standpoint... you've sold three or four items rather than one. Yeah, combination offers are winning deals for everyone! 2. Address the Small Customer GroupsNiche markets are everywhere, right under your nose! Within the customer audience that you serve right now are groups of people who share common traits. Think about it... maybe you have a group who speaks Spanish, a group of teens, and a group of middle class family men and women.Evaluate these classes of people, and discover the unique needs and desires they share. That will set you up to customize your advertising campaign directly to them. It’s not hard to take your current ads, and make a few changes to adjust to the niches. They’ll be impressed that you understand THEM, and the increase in your profits will be the best thanks you can get. 3. Set Up a Winning Referral ProgramSuccessful marketers develop the ability to turn their customers into advocates. Often, they don't even have to directly ask customers to refer them to others. Their willingness to go the extra wins customer loyalty and support. Naturally, satisfied customers refer their friends and family to the place that will take good care of them.Quality service and is the first step toward referrals, but you can easily take it one step further. Studies show that every satisfied customer tells three people about you. What would happen with a little incentive added to the picture? Yeah, a lot more. Give customers who refer friends a thank you - whether it's a discount, special gift item, or a simple thank you card - and watch the referrals spiral!You can get two birds with one stone by implementing customer surveys. A few quick questions about what the customer does and doesn't like about your product, followed by a request for the names and addresses of friends and family who would benefit from the product, and you're all set to go with the contact information of a prospective customer!

Write your plan before the business journey

Many women are so confused by the words - "Business Plan". What is it? Who do I show it to? Do I really need it? What is it really going to do for me?A business plan is a written blueprint for your business. It describes a summary of what your business is about and its' goals. It also outlines how your business will function. The term "business plan" was first developed by bankers who wanted a detailed report of how a business would result in profits before they would make a decision on lending money. Today, no business banker will even entertain a business loan application without a business plan. In a nutshell, the answer is yes, you really do need a business plan if you really want to build a solid foundation under your home-based business.I guess the reason so many women procrastinate in doing a business plan is because they think they have to come up with some imaginary figures and statistics about their business which is of course very scary for anyone. This type of plan is known as an Executive Business Plan. This plan is shown to banks, SBA and other lenders who you may apply to for a substantial loan. Usually, this type of business plan must show a 3-5 year projection of how much money your business would make if they should lend you a specific sum of money. Although you will need this type of business plan should you wish to expand your business, the most important thing for you to know now is where you will be in the next 3,6,9 and 12 months. One of the best form of business plans to start out with is the "Working Business Plan". This plan answers the 5 "W's" - Who, What, Where, When and Why.There is no pre-required length that a Working Business Plan should be. Just remember that you aren't writing to impress, you are writing to address the important issues of starting your business. This plan is just for your planning purposes and can be expanded later on into a full executive plan. The following outline will help you in processing your thoughts and writing your Working Business Plan. 1. Mission Statement - What is the goal of your business? What purpose does it serve? 2. Objective - What will the outcome be for your business as a result of your mission. (Ex: K.G. enterprises will gross over $50,000 it's first year with a 5% error margin on its documents). 3. Management - Who will run the business and what qualifications does the person have. What additional skills or resources are needed? What are the names of others that might be able to serve as mentors or help you in grooming your business for success? 4. Service/Product - What products or services are being offered? How will they be produced? If you are selling a product, how much of the product will you need in stock? Do you have the start-up capital needed to purchase the produce? If no, how will you raise the capital needed? 5. Customers - Who are your customers? What area are they in? Is this a service or product they will want to buy? Do a typical profile of a repeat customer. 6. Competition - Who are your competitors? Where are they located? What are their prices? What services or products do they sell? How could you do better? 7. Marketing - How will you market your business? How much money will you need to market your business? How is your competition marketing their business? Do you need business cards, brochure, stationery, fliers etc.? 8. Office Set-up - What are your daily office procedures, what will you do each day that will result in the sale of your service or product? What bookkeeping system will you use and how often will you input your information in the system? Do you need a bookkeeper? What supplies do you need? What type of furniture do you need? What office equipment will you need? Where will your office be? 9. Finances - HOW MUCH MONEY WILL YOU NEED FOR THE FOLLOWING?$ Your Income $ Advertising/Promotion $ Bank Fees $ Business Insurance $ Business Lease/Rent $ Internet (include website, hosting etc.) $ Supplies $ Postage $ Printing $ Telephone $ Training $ Utilities $ Marketing/Advertising $ Equipment $ Furniture 10. Networking - Who needs to know about your new venture and why? What contacts do you need to have? Why do you need to know them? What can they help you with?Contact ManagementEstablish a good contact management system for yourself. Today, keeping a list of contacts on paper is not efficient. Good contact management software will be needed. If you currently use MS Office, you should have MS Outlook already installed and it will serve the purpose nicely. Other popular contact management software are ACT and Goldmine. Regardless of what contact system you have you must be willing to update your system at least twice per week. Evaluate how you will manage you contact system. Make sure to schedule this in your planner or palm.Establish a good contact management system for yourself. Today, keeping a list of contacts on paper is not efficient. Good contact management software will be needed. If you currently use MS Office, you should have MS Outlook already installed and it will serve the purpose nicely. Other popular contact management software are ACT and Goldmine. Regardless of what contact system you have you must be willing to update your system at least twice per week. Evaluate how you will manage you contact system. Make sure to schedule this in your planner or palm. 11. Sales - The number of clients you service or products you sale will give you a true picture as to whether or not you are having success with your business. But first, you must have a measurable sales goal in achieving this success. Start by evaluating where you want to be in sales for the first 3 months, 6, months, 9 months or one year. By doing this you will be able to re-evaluate your business plan every three months and determine if you need to improve in marketing etc. 12. Starting Date - Set a starting date for when you want to begin your business or put into place this working business plan. Make sure you have printed material available for all services or products offered. Also evaluate and follow-up with yourself daily for the first month to ensure that you are following your own plan. After 30 days, follow-up on a weekly basis and then monthly from that point on. 13. Remember, no plan will work unless you are willing to put it into action!

setting business goals before go in business

Every effective business owner or entrepreneur knows that setting business goals is one of the most important elements to become highly successful. Since a business experiences highs and lows all the time, it is important to look back at your objectives to determine how close you are to them, as well as develop methods and solutions to potential and looming problems. According to studies by Napoleon Hill, author of "Think and Grow Rich", and other researchers, 95% of successful people have the habit of writing down their personal goals. Defining and Setting Business Goals The main goal of every business is to generate profit. However, your goals need to have five unique traits namely specific, measurable, attainable, realistic and time-bound. The goals of every business will change, depending on the type of industry they are in, the demands of the market, the current condition of the market, as well as other foreseen changes in the economy. You need to be sensitive about the history of other similar business, as well as have an idea about future events to stay ahead. Too many business owners have failed, simply because they set goals that did not match their own skills, economic situation and resources. Being Specific When setting business goals, keep in mind that specificity is important to visualize exactly how you want the end result to be. For example, a general goal is to write down, "I want to become rich or a millionaire after running the business." A more specific goal would go like, "I want to generate sales of 1 million dollars at least after running my restaurant business for one year." You need to know the exact figures, the type of business you belong to and the extent of expansion. Some other specific goals include the exact number of branches you wish to have after a specific number of years, the exact number of employees after a year, or the exact number of customers you regularly have on a daily basis. Being Measurable This aspect of setting business goals is tied up with specificity. You need to have a unit of measurement to determine how close you are to your goals. Defining the demographics of your market, especially the niche market, is important to know how to measure the goals properly. For example, when measuring financial status, you need to measure in terms of sales per day, expenses per day or overhead expenses per month. When measuring customer service, you can make use of tools such as survey or comment forms and have them rate services. You will need different units of measurement, depending on your type of business and the scope of the company. Being Attainable It is never advised to set goals that are almost impossible, since you will most likely burn out before reach a single one. A good approach is to divide a huge goal into smaller objectives to help you achieve through smaller steps. Always set realistic goals, based on your own personal capabilities, the current workforce and the resources available in the company. Reading your financial statement will help you gauge the right target sales. Review the business plan and check how well sales did in the previous months, to know whether you should reduce or increase target sales. Being Realistic Being realistic is intertwined with attainability in the sense that you have to check your current capabilities and resources first, to know the right goals to set. Check how well the business is doing and do a thorough evaluation before setting business goals. For example, check how many customers you have or the total sales you generate on a daily basis, then set goals on a daily basis. You have to be considerate about the current situation of the market, as well as the demand for your particular product or service. Develop marketing schemes that will help you make goals more realistic. Being Time-Bound Your business can only go on as long as you have enough resources and manpower to sustain it. Goals need to be broken down into a sound schedule, so you can continue to achieve enough support to maintain it for the long term. It is ideal to set goals on a daily, weekly, monthly, quarterly and yearly basis. Setting very huge goals in a short span of time can lead to unrealistic or unattainable results, while setting very small goals over a long period of time can lead to delay and wastage. Set the task and provide ample time for accomplishment for the business to grow effectively. Final Word on Business GoalsSetting business goals is included in the first part of your business plan. It is very important that you write these down, especially if you are looking for investors for the business. You should not start any company without sitting down and contemplating on the goals of the business over at least one full year. You can adjust the goals as you go along and identify the strengths, weaknesses, opportunities and threats. Constantly be sensitive to the needs of the market and make use of new tools that will help you progress. You should do a monthly business review too, to identify which goals you have already accomplished. After one year, you should recheck and adjust everything. The business will only continue to progress as long as there are available goals and objectives. Even if your business is already doing good, set new goals and work with the trends. Plan for potential threats and problems in the future also to stay ahead.

7 Fear Factors to start your business

Most people love to own a business of their own and attribute various reasons for this desire. In spite of this burning desire to own and operate a business they are very hesitant to put their best foot forward and venture out. What holds them back from Starting a New Business is certain Fear Factors indicated below. 1. No Self-Confidence:They fear treading into unknown areas they have never been before. They don't have the confidence of grappling with new problems and new issues that are bound to arise in their business. They are negative thinkers. They are more worried about failure rather than think positively about success. 2. No Money for Investment:Since money plays a major role in starting a new business, it is important that you find ways and means of obtaining the money. The fear that hovers over their minds all the time is that they could loose their money in the event of their business ending up in failure. Hence they are unwilling to convince others to invest in their new business venture because within their hearts they are themselves pessimistic about the success of their own venture. This same fear restrains them from obtaining loans from lending institutions as well. 3. No Knowledge and Skills:Most people who shy away from starting a new business or enterprise often give the excuse that they don't possess the knowledge, skills or the expertise to set up a business. One need not possess all the skills and the expertise necessary to run a business. In fact many successful businessmen do not possess them either. You can get over this by employing people with the necessary skills to work for you or seek the advice of a business consultant. You too could upgrade your knowledge as you go along. 4. No Ideas:Though money is not a problem to some but lack of ideas is indeed a major problem since they are unable to choose the right type of business. Identifying and choosing a Niche Business or a business that serves the need of the community should be the prime concern. If you want to be successful it is important that you do some research and set up a niche business, rather than a business that you love to do. 5. Bad Time Management:Have we not heard people saying, "I simply do not have the time to do my present job and my other activities, how will I ever find the time to run a business?" Running a business does not consume more time than your job. It is not a question of insufficient time but it is your time management that is at fault and needs looking into. How well you manage your time is very crucial for the success of your business. 6. Bad Temperament:Ups and downs are inevitable in business. The fear of encountering failure and the inability to face the consequences of this frightens them. A balanced temperament that can face successes and failures equally and withstand all kinds of pressures associated with it is essential. 7. Fear of Stress:Whether you are on an 8 to 5 Job or running your own business you can undergo stress. Stress is not confined to business alone. Unfortunately some people fear that by running a business they could be unnecessarily stressed thereby creating health and family problems. Stress can be avoided with proper time management and avoiding the tendency to procrastinate. Conclusion:Paying undue attention to the above factors automatically creates a sense of fear and prevents you from giving serious thought to starting a new business. Thinking positively and associating with positive thinkers and go-getters will give you the courage motivation and confidence to take the first steps in starting a new business.

The BEST Business Entity to suit

LEARN MORE ON HOW TO INCORPORATE YOUR BUSINESS STARTING A BUSINESS? If you are about to start a business (for Foreign Investors if you are about to start a business in Malaysia), it is very critical to have good professional advice on getting the right business organisation form i.e. incorporated or not incorporated. The answer depends on your specific concern on personal liability, tax implication, business requirement, future plan, cost and other factors. There are also other issues that need to be considered such as tax matters and business plan. INCORPORATING A COMPANY? There are so many ways to incorporate a Company. Normally when people decide to incorporate a Company, the following issue will be raised to the Company Secretary: 1. Can we get the name of our choice? 2. When can we get the Company? 3. When the Company will be ready to be used? 4. What are the “Dos” and “Don’ts” of the Directors and Shareholders? CHOICE OF BUSINESS ENTITIES Persons wishing to embark on any business operation will have three options to choose from as to what they want their business entities to be. These are: • A sole trader; • A partnership; or • A limited company. A SOLE TRADER This form of business is solely owned by one person. Management rests on that one person and his liability is unlimited. If such a business fails or is declared bankrupt, the creditors can sue him for all debts incurred. They can obtain a court order to claim against his personal assets. These can even include his house if such other assets are insufficient to cover the debts. One of the advantages of this form of business is that there are fewer formalities in terms of its formation and registration. It also involves less paper work. A PARTNERSHIP In a partnership, a person trades jointly with one or more persons to carry out a business. Partnership must comprise at least two members. The maximum number allowed is twenty. Partnership is governed by the Partnership Act 1961. If the partners do not make their own agreement, or if their own agreement does not cover any particular matter specified in the Partnership Act, provisions of the Partnership Act dealing with that particular matter will become applicable. The advantages of operating sole proprietorship and partnerships are that you are not required to disclose your financial statements to general public. It will be relatively easy if subsequently you wish to convert your business into a limited company Losses incurred by such business can be set off against other personal income such as interests, rent and dividend as well as employment income (if any). A LIMITED COMPANIES A limited company is incorporated under the Companies Act, 1965. It can be :- • A company limited by shares; the liability of a member’s contribution to the company’s assets is limited to the amount specified, unpaid on his shares if any. Once the shares are fully paid up there is, in general, no further liability, i.e. if the company becomes insolvent, or falls into liquidation, the members are not required to make any further contribution to discharge its debts. In other words, the personal assets of a shareholder would not be available to the creditors of the company unless a personal guarantee had been given by the shareholder. A company limited by shares can be divided into :- (a) A private limited company (Sendirian Berhad) A private limited company is one which by its articles :- (i) Restricts the right to transfer its shares (the transfer may be subject to the approvals of the directors); (ii) Limits the number of its members to fifty (the minimum beingtwo); (iii) Prohibits any invitation to the public to subscribe for any shares in or debentures of the company; and (iv) Prohibiting any invitation to the public to deposit money with the company for fixed periods or payable at call. (b) A public limited company (Berhad) A public limited company is any company other than a private company whose shares may be offered to the public for subscription. Such shares are freely transferable. The company may apply to the Stock Exchange for permission for its shares to be listed, thus, providing an effective market for such shares. TO BE CONTINUED