Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Friday, August 31, 2012

4 Tips For Finding the Right Internet Business For You

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Have you considered the idea of having your own internet business, able to choose the hours you work, with your own business model, and be your own boss? Have you also decided not to take that step, because of worries and anxieties about the risks involved, the uncertainty, or even because of concerns which you may have regarding how to identify legitimate opportunities from the scams?

If so, then you are certainly not alone, and there is an increasing number of people who are now turning to internet technology to help create a better work life balance and distancing themselves from the increasing uncertainty of the workplace and job security. It seems that people now want to take charge of their own lives, their own careers and their own independent financial security.

Whilst it would certainly be misleading to suggest that there were no scams or untrustworthy internet business models and ideas available online, there are enough genuine, and proven ways of earning either a part time or full time income online to make it well worth a proper investigation if the idea appeals to you. If this sounds like you, then here are some basic pointers to ensure that whatever steps you take, and whatever decisions you make, you are more likely to emerge from the experience in a positive frame of mind.

1. Legitimacy. We've all seen those online business offers and adverts suggesting that the author made tens of thousands of dollars in the first week, is now a millionaire a few months on and generously giving all his money making secrets away for about fifty dollars a time.

The point to bear in mind is that if it sounds too good to be true, it almost certainly always is. Yes, the internet has spawned many millionaires, and yes, some people have made a fortune in a very short space of time. But when you consider the millions of people using the internet, this isn't surprising. In all honesty, you have as much chance of making a few million dollars overnight through an online business as you do winning a state lottery.

If you start to read an internet business proposal or scheme, and you realise that most of the description centres on the single individual case of the person who started it, offering no guarantees or assurances of your success, then it may well be best to move on. The best, and most promising online business schemes and ideas tend to focus more on what is involved, what you will need to do, how the financial model works, and present realistic, rather than fantastic targets and expectations.

2. Support. If you find a few business ideas which sound interesting, drop a direct line to the owner. Unless you're thinking of starting up your own completely independent, unique business yourself, without taking on board a basic model idea of franchise project already in place, then the chances are high that you'll need to communicate with this person quite frequently in the first few days, weeks or perhaps even months. So email the person, and see what happens.

Do they reply? How quick is the response? Is it written personally, or just an automatic reply? Is the message written in a way which sounds pleasant, helpful, and supportive and actually seeks to answer your question? This can reveal a lot about the validity of the business model and the likelihood of your success with it.

3. Suitability. Another thing that you need to bear in mind is the nature of the business itself, and any opportunity to adapt or extend it in ways which suit you and your personality. It's too easy to pick a web based or home based business opportunity based purely on its reliability, legitimacy or likely financial expectations. Since you could well be looking at the idea as being a long term career opportunity, you need to be honest with yourself about how you see this idea developing.

Are you an extrovert? You might prefer to look at online businesses which involve a great amount of service related work, communicating directly with consumers in various ways. Perhaps you are more of an introvert, and would prefer a business which sees you working in a much more private, solo fashion, focussing more on the product or service than on the communication with customers. Think about how you see yourself and the business in twelve months time. Is it possible to see yourself happy, progressing well and with a business which is both succeeding at the same time as providing you with fresh challenges and opportunities?

4. Research. One advantage of considering an online or internet business opportunity is that you will be in good company. There are thousands of people who have already taken the plunge, learnt from mistakes, discovered successes, and who are more than willing to share those with you. Sign up to forums and discussion boards where people can share these ideas and experiences, and don't be afraid to ask people for advice, and listen to their responses.


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Monday, June 25, 2012

What Kind of Business Should I Start?

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It's not uncommon to reach your 30s, 40s or even 50s and still wonder, "What do I want to be when I grow up?" Few people are fortunate enough to be certain of their destinies early on and the rest of us are forced to do some soul searching.

The desire to own a business is becoming more common as workers grow more frustrated with the economy and working in corporate America. If you're thinking about a business of your own but you're not sure what to start, here are several exercise to spark some ideas.

Start by Making Lists of Your Interests, Talents, and Skills

Write down what you like and don't like about your current job and jobs you've had in the past. Do you love writing business documents? Do you hate calculating numbers? By listing your likes and dislikes, you can see with more clarity where some of your interests lie and which tasks you want to avoid.

The trick is to brainstorm business ideas and find one that you will be passionate about, one that will meet your desired standard of living and your lifestyle criteria. Someone who doesn't like being chained to a desk should not choose a business that requires her to be stuck in an office all day.

The good news is that as an entrepreneur, you get to make these decisions for yourself. Perhaps you are good with numbers and you're thinking about becoming a mortgage broker, but you don't want to be stuck in an office all day. If you are serving clients in your area, won't you also be required to meet with them? Could you find a way to meet with them at their place of business or over lunch?

This list should also help you identify your weaknesses. If you hate to write, then you probably shouldn't start a local newspaper (although if you have the right budget, you can hire writers and focus on other aspects of the business). If crunching numbers makes your brain hurt, then you won't find joy in running a bookkeeping business. For that matter, you will probably dread keeping your own books and should build a bookkeeping service into your business budget.

Spend some time with this exercise and look for a theme in your lists. If you identify a business that interests you, but it doesn't meet your lifestyle requirements, then expand on the idea and see if there is a different type of business in that field that would suit you better.

Imagine You Have Just Won the Lottery

So you've just won a lottery for 0,000. It's not enough to retire on, but it's enough to make some decisions about your future. Consider what you would do if you won a large chunk of money. Of course it's fun to imagine paying off your debts and sharing your good fortune with the people you love, but what do you do with the rest of the money? What does your ideal work life look like? What kind of business would you start if you had endless resources?

Could Your Talent or Hobby Net You Some Profits?

Whether you are a musician, an artist, a writer, a crafter, an athlete, an entertainer or a chef, you may be able to find a business that takes advantage of these talents. Think outside the box. Use the internet to search for ideas. For example, if you are a sports fanatic, you could search for "sports business" or "sports industry" and see what kinds of topics are returned. Perhaps you could become a sports writer, sporting goods store owner, coach, trainer, statistician, or memorabilia sales.

Ask Your Family and Friends

By asking the people closest to you for input, you may gain some surprising insight. Perhaps your best friend will remind you of your culinary talents or your grandmother will admire your decorating skills. Maybe your brother will tell you that he always thought you would end up working with animals because you rescued all the neighborhood strays. If for nothing else, asking those closest to you will breed discussion about your future and may lead to the spark of inspiration you are seeking.

Start Looking at the Business World Through a New Set of Eyes

Every business you see started somewhere by someone. The dry cleaner you visit weekly, the grocery store where you shop, the quaint coffee shop on the corner and your favorite take-out restaurant all were born from somebody's dream. Pay attention to every business you encounter. Is the owner present? If so, does he or she look happy? Tired? Frantic? What are the pros and cons of running each kind of business? A retail business is typically a 6 or 7 day per week effort. Restaurants require long hours, food spoilage management, health department inspections and a lot of staff. Service businesses are often started by an owner providing the service.

Talk to business owners that you encounter. Ask them about the pros and cons of what they do. Who better to advise you on your future than those who are actually living some version of it?

Go to the Bookstore or Library

I personally believe that books give you the best opportunity to self-educate. You can learn about virtually any topic under the sun just by reading a book. Spend some time in the business section and read some of the books suggested in the appendix of this book. You never know where you will find inspiration. Many business books list examples from real entrepreneurs. Perhaps one of these examples will spark your interest or cause you to think about something you hadn't considered before.

You've Done Everything Else and Still Don't Know What to Do

Don't give up! Keep at it. Carve some time out every day to focus on your life plan. Get up an hour early in the morning, take time out of your lunch hour or stay up an hour late, but whatever you do, devote some time to mapping out your future. If you are serious about moving forward, you will have to make the time.

Keep doing the exercises listed here. Spend time reading business message boards, websites and magazines. Jot down topics that interest you and learn more about them. The process may take some time, but the end result should be well worth it.


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