Identify your Small Business Advantage

Small businesses usually find themselves being disadvantaged compared to medium or large businesses, because they do not have the resources available. The owner/operator is required to wear a range of different caps, which has a range of negative impact on the business. The business is managing the owner/operator, which means that the strategic perspective is lost and as a result the business is not able to move forward. Now let us have a closer look at this cause and effect.

The business is managing the owner/operator
When there are 117 different things to do in the business every day but there is only a few people (or one person) to do the tasks, some things are not done very well or not done at all. As a result the owner/operator is working like a firefighter - putting out the fires as they appear, rather than prevent the fires to start in the first place. This becomes a viscous circle, which leads to the next point

The strategic perspective is lost
During the working hours the owner/operator is focusing on the operational tasks, and it is hard to take a few steps back and look at the business from an objective perspective
As a result the, the business owner does the same thing day after day, week after week and so on. Unless the owner/operator has an active supporting network to step in and provide guidance, the owner will keep making the same mistakes and end up the same place that many before has ended.

Get an advisory board
The solution is to establish a formal or informal advisor board. An advisory board should consist of a group of experts of their chosen field. It can be private friends (though this can include some complications and as such is not advised). An alternative to an advisory board is finding a business coach or even better - a business mentor. They all have in common the fact they do not work directly within the business and can see what is going on and help managing the business. Once an advisor has been identified, it is important to identify the core business functions and analyse if certain activities can be fulfilled more effectively, and maybe even outsource some of these activities.

Outsourcing
Outsourcing is a great tool to manage the business with, in particularly if the owner keeps attending fires. Outsourcing simply means that someone else is a called in as a "hired gun" to do some of business activities, in particularly the activities that does not contribute to the business profit. One such thing is bookkeeping and accounts, which is very time consuming, but is not a core business function (unless you are a bookkeeper). When outsourcing the bookkeeping function to someone else, it is very important that the bookkeeper not only does the simple bookkeeping tasks, but also provides the owner with the proper reporting tools that the owner need to manage the business.

The bookkeeper should be able to provide the owner with the following reporting tools:
• Profit & Loss
• Balance Sheet
• Cashflow report.

If you do not understand how to read these reports, ask your bookkeeper to explain to you what it means. If your bookkeeper cannot explain this to you, it is probably best to find a new bookkeeper. Your accountant can also help you explaining what indicators to look out for, but the accountant usually charges a whole lot more than the bookkeeper.

Small Business Organizations To Join

by Dock Murphy

For the small business owner, keeping up with all of the available benefits can be difficult. In addition, how does one meet the requirements for a minimum number of employees in order to find good rates on insurance? Unlike the larger companies, it's not as simple as calling someone and knowing you qualify to participate. Many insurance plans require a minimum number of participants in order to offer group rates, so oftentimes the small business owner is left in the cold.

This is the point where a small busine4ss can take advantage of some of the various organizations that exist just for them. Various organizations offer different benefits for the small business organization, including those who come together as an association so that small business can take advantage of benefits previously only offered to large businesses. For examples, some credit unions offer insurance benefits to their members at group rates, while labor unions quite frequently have plans already in place for their members, no matter the size of the individual organization.

Each existing small business organization has its own function and plan for helping the small business owner. Some offer training in order for the business to grow in its knowledge of the product it produces, while others offer working capital to allow the business to develop and flourish. The government operates some of these organizations, while others are privately owned or non-profit organizations that are funded by major corporations. Whatever the needs may be for a small business, there is an organization there to meet those needs. The difficulty is not in an organization being in operation to assist with those needs, but for the small business owner to have the capability of locating these organizations when he needs the information. Thanks to the Internet, this process has become easier, but for a start up business, access to online sources may not always be an option. Fortunately for those who do not have online access, or choose not to utilize it, various books and publications are available to assist a small business in locating organizations that are specifically geared toward helping small businesses succeed.

When you re just starting out, it is very difficult to know all of the places to search for information, so another good source of information is your local university. Quite often the business development centers of the universities offer many different services to small businesses in the private sector. This includes information about start up funding, different types of financing based upon the scope of the business and its ownership, and training in essential areas of business ownership. In some areas, these classes are even sponsored in cooperation with the Small Business Administration and other small business development organizations.

Small Business Opportunities - Make Money Fast in Costa Rica!

by Sacha Tarkovsky

If you have a sense of adventure and want to run a business with low costs, bigger profits, less taxation (with government encouragement!) and enjoy sun, sea, sand, surf and rainforest – then you should consider a small business in Costa Rica.

There are several ways to take advantage of this opportunity, with a service industry to the growing US population, or one that simply takes advantage of lower costs and taxation.

Let's look at the opportunities open to you.

More For Your Money

With this small business opportunity you can reduce costs straight away by swapping your current real estate for real estate in Costa Rica, which costs up to 70% less than real state in the southern US states.

You can then cut the cost of utility bills and daily living expenses by 70 - 80%. ( a three bedroom house can be purchased for just $60,000 ) and consider this you can live comfortably on around $2,000 a month.

What type of business?

With a growing foreign population, obvious opportunities are open in service, leisure and entertainment and the population you will be servicing has cash to spend.

A Trained workforce

You can of course, with Costa Rica's excellent communications and trained work force (Costa invests 6.5 percent of its GDP to an educational system, which includes over 50 universities. English is taught in the schools as a second language. ) run any type of business at dramatically reduced costs. Real estate is cheap and so tp are office rentals.

The opportunities in running a small business in Costa Rica are endless and you can deal in the country or export your services offshore.

Large companies such as Microsoft, Intel and Proctor and Gamble have re located to Costa Rica and other small businesses are moving in to service them and their employees.

Tax Incentives

As an incentive to investment, the Costa Rican government provides foreign companies with several tax incentives.

For service companies (i.e software development, computer services, costumer care call centers and back office/shared service centers) the incentives include a 100 percent income tax exemption for the first 8 years of doing business in the country and an additional four years at a 50 percent rate.

Legal restrictions

The country is friendly in terms of labor regulations and there are no restrictions on foreign corporations owning property (and consider this property has risen on average by 300% in the last 10 years) so you can make money on real estate to increase your asset values.

A growing economy

Whenever you have a growing economy with an influx of new residents with a different culture there will be significant opportunities for profit.

Get in early, get established and you will find that you can get a lead over any competition.

Costa Rica is just three hours from the US and while many come to get more for their money, enjoy the beautiful scenery – they still want the comforts of home.

As the numbers increase ( 1,000,000 Americans are expected to be living in Costa Rica by 1,010 ) and you have an opportunity to service them.

From restaurants, to water sports to computer service companies – the same opportunities that exist back home are available in Costa Rica but you can get a head start:

Cheap real estate, office space, low costs, lower taxation and the chance to be in a less competive market place and last but not least – you can enjoy a lifestyle of sun, sand sea, volcanoes, rainforest, great entertainment and nightlife and much more.

For the adventurous small business owner, Costa Rica offers a fantastic opportunity and a different lifestyle but one that many will find rewarding, from both a personal and profit point of view.

Setting up your new business is easy

Foreign businesses are encouraged by the government, getting residency and getting a corporation off the ground is straightforward.

If you have a sense of adventure then you should consider the advantages a small business in Costa Rica has to offer.

The #1 Small Business Phone System

by mark Allen

Finding the right communications solution is atop priority for every growing business. So is simplicity. You need a solution that will help control costs and maximize your investment without increasing overhead or diverting scarce resources.

The Avaya PARTNER® Advanced Communications System (ACS) meets both of those challenges, combining power and simplicity in an affordable, easy-to-use, all-in-one system that delivers over 100 productivity boosting features.

Standard Features Avaya PARTNER® ACS phone system is designed to deliver the productivity and collaboration features you need: Incoming Caller ID, 5-party conferencing, built-in speaker phones, fax management, remote administration, SMDR interfacethese are all standard on PARTNER ACS phone system.

Growth and investment protection Avaya PARTNER ACS phone system grows as a business grows. Maximum capacity is 31 lines and/or 48 stations (maximum line and station capacities cannot be reached simultaneously). The compact, modular design means the original processor does not need replacement even when modules are added to bring capacity up to the maximum.

Simple upgrades and additions Software upgrades are simple and it is easy to increase voice mail ports or add telephones. Many options are delivered on PCMCIA cards that are easily inserted into the system. Stations, lines or even capabilities such as messaging can be added on an "as needed" basis. And it is easy to connect a wide range of accessory devices, such as fax machines and credit card readers no special adapters are needed.

PARTNER ACS is a proven phone system with an installed base of nearly 1 million loyal users around the world gives you:
Over 100 built-in features
Enhanced voice messaging
Enhanced mobility options

Corporate Gift Giving Etiquette - What to Give, When and How - a Small Business Perspective

by Sophie Charalambous

No matter how you define it, motivating and rewarding can be powerful tools, especially for small businesses whose results are generated mostly by people's performance.

Congratulate: a new promotion, a new baby, a wedding, the opening of a new office, the completion of a major project, meeting a deadline

Celebrate: a birthday, a business or personal anniversary, a holiday, a retirement, a new job, a successful project or proposal

Motivate: for difficult personal or business goal, an unpleasant task, boring work, problem solving, coming up with an idea

Promote: yourself, your product and services, colleagues, referrals for new business

Thank: for business, hard work, extra help, working overtime, opening doors for you

Cheer: during a serious illness or hospitalization, when a deal falls through

Apologize: for missing an important meeting or deadline

Above all, do not forget that one person's great gift can be another's horror story. To make sure your gifts are memorable � In a good way � and appropriate, learn some basic gift giving etiquette.up

1. Giving gifts year round to reward performance, results and to motivate, will have more impact than simply waiting to do so at the end of the year, where your gift will compete with many others.
2. Do not drop your gift program because of a weak economy. Your team needs the most motivation when times are bad.
3. Set goals for gift giving. Do you want to recognize employees? Thank customers for their business? Celebrate a company anniversary or milestone? Do not start giving unless you have a clear goal.
4. Make sure that the recipient's company policy allows gift acceptance. If that is a concern, send items that can be shared within the office such as: gourmet gift basket, industry trade magazine subscriptions, charity donations etc.
5. Find time to find meaningful, thoughtful gifts that fit the recipient. Do not assume that everyone likes things that you like. Keep in mind cultural, dietary and religious restrictions. Gifts should not be lavish or very expensive, but appropriate, timely and of good quality.
6. What you give is a reflection on you and your organization, so avoid sending inappropriate, tasteless, offencive gifts.
7. Try to include a personal note with every gift you send. Use a custom card and state briefly your purpose for sending the gift, offering your best wishes. A custom designed note card (4x6) will cost you around $99 for 500 but it will be highly appreciated.
8. Deliver gifts in person when you can, otherwise send gifts priority or express mail.
9. Consider the presentation since the first impressions are always important. Even expensive items might not have the effects you expect them to if they are presented in a tasteless way. Consider adding your company's logo on the paper and ribbon.

How Mothers Can Pop Into a Small Business

by Wendy Sepherd

What is a mother to do when money is short and there are things her children need? Many mothers may find themselves at yard sales pinching a few needed items for a more affordable price than buying new.

As a mom, this is exactly what I did when my kids were young. It was a good way to get out and about when my little ones were bored. Daddy was usually working, so we packed up on Friday and/or Saturday mornings and went treasure hunting for things we may need and some extra fun goodies.

I didn't realize at the time that I would change this treasure hunting into a small business to bring in a little bit of funds to help pay for diapers, educational books and toys for my young boys.

It started quite innocently. I really didn't want to hold a full-blown yard sale at my house to get rid of some of the small cloth diapers, baby books, etc. that we had acquired which my babies were growing out of. Therefore, I decided to try and sell them online.

At first, I started putting items up on auctions and message forums. I just accepted checks via regular mail in the beginning. Then I learned how to set up a way to accept electronic payments. I learned more from there. At the same time, I was running a couple of small websites on free hosting servers.

I have been asked many questions by people who are shy about getting started doing the same thing as I did. So, I decided to create an electronic digital ebook that will give the tips and information to help anyone get started. You will learn more than I did when I started in my early days by reading it all in this ebook. I have included most of what I know, which should help save you time and money.

Get an attitude; know that if I could do it, you can too! Make some extra fun money or a work at home mom business in resale mode.

Small Business Marketing in the Real World -- Article Marketing

by Nancy Amada

Billboards, magazines, television commercials, newspapers, and radio spots. There are countless ways to market your small business. Hiring a sky-writer or paying millions for a few seconds of airtime just isn't the most cost-effective way to do it.

Sure the advertising hoopla surrounding events like the Superbowl is exciting. It just simply is not necessary for a business to succeed. Unless you've got a very generous donor who insists that you spend your marketing budget frivolously, finding practical ways to get your name out there is not all that difficult.

Article marketing has proven to be one of the most widely used of these methods. It's fast, it's easy, and it doesn't cost a fortune. It requires a small investment of time to get the article marketing campaign fired up, but then takes on a life of its own.

To begin the process, business owners write short articles about topics relating to their business. The articles serve as informative pieces, rather than sales pitches. The authors are careful to provide useful information, not just a bunch of advertising mumbo jumbo.

Once the articles are created, they are sent off to an article distribution service. These services specialize in making thousands of contacts with websites who are looking for fresh content.

The article distribution service reviews each and every article to determine what types of websites might want articles about the subject at hand. This greatly increases the chances of the various articles being published.

The magic really happens when the first articles are published. As readers connect with what you say in your articles, they are likely to click on the link back to your website. And as more people visit your website and see what your business has to offer, the more customers you gain.

Article marketing is truly a win-win process. The arrangement between business owners and publishers allows both sides to benefit. While business owners have the opportunity to get their names out there, publishers are able to constantly offer their readers new and interesting information.

It is this vital partnership that has allowed article marketing to take off in the business world. It is now being utilized by companies both big and small. Regardless of the product or service being offered, article marketing gives business owners a platform from which to speak to customers.

While the article marketing phenomenon may seem to good to be true, it is definitely more pragmatic than pie-in-the-sky advertising ambitions involving Superbowl ads. Article marketing has shown to be a powerhouse in the world of marketing and small businesses, and it is likely to continue gaining speed as more and more companies jump on the bandwagon.

Small Business Marketing - Creatively Reach Your Target!

by Nancy Amada

Marketing a small business is no easy task. While inventions such as the Internet have made many things easier, it has also created further frustration for some people. In the information jungle known as the World Wide Web, how is one to get noticed?

It all begins with a process called article marketing. This is one of those tried and true methods of small business marketing that has long been used in print, but really took off with the advent of the Internet. The Web has breathed new life into the practice of article marketing, making it one of the number one ways to promote a small business and build site traffic.

Article marketing begins with the business owner creating several short articles about their particular industry. These articles are informative and interesting, not marketing pitches. It is all about offering the reader some useful information.

Then these articles are submitted to an article distribution service. These services insure that the articles are in tip-top shape before they are sent to any publishers. Article distribution services know exactly what the content site owners want and they help business owners get their articles into the appropriate format.

The distribution services play an important role since there are specific guidelines provided by each and every publisher, making it nearly impossible for an individual to keep track of the various stipulations. In addition to that, the services help the writer edit each article in order to help the business owner put his or her best face forward. These articles are about gaining exposure and credibility. A bad article will reflect poorly upon the business as a whole, so professional editors play an important role.

Once articles are edited, the distribution services identify the most relevant publishers for each article. This means that the articles will be published in places where readers will likely take an interest in the information presented.

The ability that article marketing has to reach the target market every single time an article is published is among its greatest appeals to business owners. Why waste your time and money in marketing efforts that will be thwarted by the disinterested masses? By going straight to the source of your target market, you'll hit a home run every time.

Whenever an interested reader likes your article they will go back to check out your website. And it doesn't take a computer wizard to know that high traffic and high sales almost always correlate.

What American Idol and Small Business Have in Common

by Christine Groth

American Idol has become the fixation of the American public, a television show that will be remembered for years to come even after it will eventually stop showing. A show that definitely has brought much success to many people. Some very well know and others who have discovered stardom overnight.

Every Tuesday night I sit down with my daughters to watch American Idol and speculate who will win who will not and on it goes. Like all of you I've been pasted to the T.V. for the past few months enjoying all that I see on American Idol. But this season has been very interesting, that is if you watch very closely.

The first thing is American Idol is not always a singing contest. Yes, Simon will say get off it and let's vote who is the best singer. But the fact of the matter is many times American Idol is a popularity contest. It does not matter who can sing the best but who entertains the best. Unfair for those who are really talented as you saw with Melinda Doolittle. She was unbelievable and flawless but not as popular as Jordin Sparks. I also realistically thought that Melinda was predictable. We always knew her performance was going to be perfect.

The other thing I learned about American Idol is the American public is looking for a rags to riches story. Like the no body or nothing singer for the country side who becomes a super star. Or- the seventeen year old Jordin Sparks who becomes a super star at such a young age. American loves a little story-

But what does this have to do with small business? Pretty simple.

Some small businesses you will see are very busy successful and its based on popularity in a community. Does this center have the best service or the best products and equipment? Maybe or maybe not.

People are drawn to a small business for a variety of reasons- some of which maybe its just the place to go. My friend told me to go there, or my boss goes there. They said it was ok. It does not always mean that they have the best service or the best people working for them. Other variables that fall into consideration are competition in the community, the size, demand and so on goes the list of factors.

So the next time you think about business, think about people and what they are drawn to and why.

The Small Business Online Marketing Survival Guide

by Nancy Amada

If you're a small business owner struggling to survive online, you've probably figured out by now that Internet business involves more than simply building a website and making sales. The trouble with online marketing is that you're no longer just competing with other businesses in your geographical area. Now, you're competing with the whole world -- a daunting prospect, however you look at it.

The good news is that your customer base is far larger than it once was. Even if you have average site design and non-competitive prices, you're liable to get a few customers here and there. But nobody starts a business just to get by. We all want to make a profit. Most of us would even love to get rich. Yet by simply putting up a website and waiting for customers to find their way to you, you'll get nowhere fast.

In other words, to survive and get ahead in online business, you can't just sit in your tiny corner of the Internet, waiting for people to initiate a conversation with you. The Internet is a vast, interconnected system of social networks and communities based around dynamic content. If your marketing budget doesn't allow you to break into these systems through eye-catching advertisements, then you have to take the high road instead.

I call it the "high road" for a reason. Today's Web-savvy consumers despise flashy, intrusive advertising. There's no quicker way to encourage negative associations with your company name than to plaster it across a banner ad, or to have it pop-up in flashing fonts on the screen of an unsuspecting Web surfer. These heavy-handed marketing tactics will only sink your online business.

The key to earning your future customers' respect is not to hit them over the head with shallow self-endorsements, but rather to use pre-existing content structures to generate a crescendoing buzz around your business.

Whether your business sells solid goods or useful services, there is undoubtedly a Web community centered around your field. There are blogs, journals, and online magazines that relate directly to your area of expertise, and, as someone with a passion for your field of work, you probably follow these on a regular basis.

Who generates this content? For a piece of content to be genuinely useful, it must be written by a person who knows all the ins and outs of the subject matter. In other words, the people who generate Web content are not a special class of cyber-writers; they're professionals like you, who do nothing more than set fingers to keyboard and write about what they know.

Meanwhile, who are the readers of this content? Not everyone reading the same content that you read are small business owners like yourself. In fact, the vast majority of them are interested observers looking to learn something new -- or, more importantly, the vast majority of them are potential customers. Though they may not realize it as they're reading the content, they're learning what to buy, where to buy, and how to buy. By not being one of the experts who generates content, you're missing out on a huge opportunity to speak to your customer base.

So, maybe you should try to generate some Web content. Actually, on second thought, you simply must generate Web content, and you should start as soon as possible. The survival of your online business depends upon it.

To generate content might sound difficult, but in reality, you only have to set fingers to keyboard and start typing. If you're writing about something you know -- which you will be -- then the content will flow out of you. And if you're a smart business owner who deserves a large share of your market, then your content will inevitably be useful and informative to your future customers.

Once you have some articles, find an article marketing service. These are inexpensive, and easy to locate through any search engine. Sign up for one of these services, and they'll help you polish and distribute your content. Take their advice, and soon you'll be building site traffic, earning higher search engine rankings, and making greater profits.

Small Business Planning

by Yuri jagrine

Small business planning – no excuses, you need to write it down! Before you condemn me and say “he’s dead wrong”, let me share what I have seen. There are two schools of though about starting a business – one is “Jump In” and the other is “What If”. Both sides have strong reasons to uphold their opinions but in the end they want the same thing - success - they just take different paths to get there.

Two Schools of Thought

The “Jump In” crowd say that one of the simplest things that prevents getting started is ‘paralysis by analysis’. This concept is that you can dwell over your idea and the details behind it for such a long time that by the time you tell yourself you’re ready, you’re actually too late because the market has changed, and you have spent so much time and money trying to get to that point. The idea to prevent this paralysis is to just do it – just start the business, start acquiring customers, start delivering your product or service, deal with the problems and you will learn the your business by doing.

The entrepreneurs whom I’ve dubbed the “What If” are the people who understand that mistakes are costly. Some mistakes are burdensome when you’re bootstrapping the entire operation, others can be so detrimental to the business that they could break it. To prevent these errors, these people want to know what they are getting into and they take the time to look at the market, to look at the future customers, make sure that the basic financial equation [ Revenue (-) Costs = Hey, I can make money off of this(!) ] still holds.

Why You Need One

So you have an awesome idea, right? Great, now all you have to do is go out and do it! Well, that’s the same thing as being 14 and saying that you have an awesome idea to start driving and you’re going to do it. You can get behind the wheel of the car, you can get the engine running, you know about the gas pedal – I mean you’ve seen everyone else do it, so you pull out on the street and 2 minutes later you’re looking at a wrecked car. Sure, you’re still alive and the car cost $10k, but don’t you think you should at least ask about the rules of the road?

Here is why I say you NEED a business plan. No matter how well you think you know what you’re doing, you just haven’t thought it all the way through. A business plan does not have to be elaborate, does not have to be a 40 page color document, it doesn’t even have to be a quick 10 pager, I’m saying that if you can “write” it in your head then even that is great. A business plan is taking the time to ask yourself the basic questions about your new operation and coming up with the answers. The answers make up the plan:

1. Executive Summary – what is the nature of your business
2. Product/Service Description – what are you selling
3. Market Analysis – who is buying
4. Management Team – who is helping you
5. Operations Strategy – how will you deliver
6. Financial Plan and Projections – how much money can you make

Different Types

So, why is there so much talk about putting a business plan together and one being better than another? Well a business plan not only allows you to gather your thoughts about your new business, it also serves as a resume to partners and investors. Different levels of investors require different levels of analysis and insight. A financial institution such as a bank may want to see some specifics about sound financial operations; do you know what they want to see? Looking at thousands of business plans is the job of Angel Investors and Venture Capitalist and they may want to know the precise assessment of your customer base; do you know how to calculate it?

There are several ways you can put a plan together and each type of solution comes with its own price tag and those range from free to $10,000. You can look online and see a similar six-part summary that I wrote above (free), you can buy software that walks you through the different parts (about $400), or you can hire an expert or a consultant to write the plan for you..

It costs How Much?

Here is what you should know about the typical three types of business plans that a business plan professional can create charging per page or per hour. A Level 1 Business plan is about 10 pages, costs between $700 and $1,500 and is used to secure a bank loan. A Level 2 plan is from 20 to 30 pages, costs from $2,500 to $5,000 and is intended to capture an angel investor for an investment of up to $1M. The third level of business plan is intended to secure venture capital in the multi-million dollar range and can be from $7,000 to $10,000. If you think that $10,000 is a lot, you’re correct, but keep in mind that some plans have been written for up to $100,000…but they were used to secure tens of millions of dollars.

There should be no doubt in your head about whether you should have a business plan – if you are staring a new business you need one! Make the right decision of how you will write your business plan, who will write it, how much time and money you will spend on the process and for what outcome you are writing it.

Here is to you making it into the small percentage of successful startups!

Small Business Marketing Tip: Success Can Make a Failure Out of you

by Tim Allen

Success! It's something that makes its way into the signature lines of marketers across the world. Everyone in the world wants it. If you are an athlete you dream of making it on the team, in the pros and then to the highest trophy in the sport. Those in the sales and management industry aspire to make more sales and make more money. Yes, Success is the driving force of any venture big or small. But a danger exists when you pursue success in whatever field you are in. In fact I can guarantee any person who finds success will be in danger.

What is the danger we are talking about when it comes to success? Simply it is success itself. Now you may think that is strange. That success is a danger onto its own achievement. Perhaps though I can illustrate by this simple scientific fact, "What goes up has to come down". When you first throw a ball up in the air you'll find that it loses its steam when it reaches the pinnacle of its climb. It does not have the same force or push that it had when it started. You could say the ball has lost interest because it has reached its target.

Or what happens in sports when teams win the championship in their league. Is the desire as strong as when the team did not have that success of winning it all? The answer can vary. However when the other teams and players see the success of the winning team it makes them want what the winning team has. Their hunger and their desire eclipses the team that previously won it all. Thus our former champion becomes the hunted.

Now granted sports players in professional leagues are usually taken care of for life after their 10-20 year career. Perhaps even just 1 or a couple years would make them set for life. For most of us that's not the case. If we see some success it's probably only going to last us a fraction of our lifetime monetarily. If we fall into the lull of thinking that we can take it easy on ourselves we risk losing the passion we need for the profession we are in. Face it, any profession you take up now a days you need to keep that fire in your belly to stay in good form. Seeing success can soften you and turn you into a procrastinator. This may not happen at first; but over time you could see that trend developing in yourself. Your upcoming projects will then suffer.

What's the solution? When lunch comes around and you missed breakfast what is it that drives you to find that lunch time meal? It is hunger! Hunger is what drove you to success in the first place. Hunger is what made you work those long hard hours to get where you are at. You saw a vision in your mind and there was nothing that would satisfy you until you made it happen.

Do whatever you need to keep that hunger alive. If it is getting additional education and learning a new slant on the industry you are in - do it. If it is being a part of a support group - do it. If it's maintaining your lifestyle - by all means do it.

Remember that hunger is what got you success in the first place. That hunger is like a fire that burns within you. A shift in your mindset may also help. Instead of viewing success by monetary numbers view it as projects you were able to complete in a timeframe. Education is also important. It can inspire you to try new things in your business ventures and keep things fresh.

To conclude I'm not going to just wish you some success. My hope is that your future success does not make a failure out of you.

Advantages Small Businesses Have Over Large Companies

by William King

Good things come in small packages. Here are some of the advantages of a small business over a large company.

Quick response time:–

A small business is very quick to respond to problems and solve them due to a smaller chain of command. Top management is usually available at once and so are the relevant people to be able to handle the situation in a short period of time. On the contrary, larger businesses are notoriously slow to respond to problems and have a long complex chain of command. Additionally, they have a number of policies to be adhered to and practices that must be followed at many steps along the way. This makes them slow to solve problems and snags that come up in the course of even routine work.

Flexibility in making decisions:–

A small business has the flexibility to bend, manipulate and change the rules depending on the need of the hour, whereas a large company is stuck in a quagmire of policies and legalities. There are no exceptions to the rule for a large company whereas there may not be that many rules for a small business. This allows employees, managers and owners the flexibility to make decisions on the spot, instead of waiting for a long chain of command to get to the person who is able to make a decision. The decision can be made faster, at times instantly, in a small business and work can carry on. This increases the productivity of the employees as well.

Personal Attention:–

The small business is able to give time and attention to its customers and this is the foundation of a successful business. Why do people love their favorite little coffee place as opposed to a huge chain like Starbucks? Because the waitress is not in a rush and the guy at the counter knows your name and because of those lovely little quiches they make at 6 o’clock every evening. Customer service has the ability to make decisions and change the rules depending on who they are serving, which is simply not possible in a large company that has to standardize its approach.

Specialized:–

A lot of small businesses are small because they are specialists. Some are boutiques. This gives them a major competitive edge over the large companies that form the competition. They can do well at tasks that are ignored or under-serviced by big busy companies.

Flat structure means easy communication:–

There is often a single point of contact offered by a small business to its customers and this person is able to service the client better for it. The person is more likely to know the customer’s history with the company, better able to make a judgment call and well versed with each section within the small business. This is mainly due to the flatter organization structure of the small business.

Change with times:–

The small business is more geared towards change due to its smaller size. Less training is required and the change has better reach throughout the organization. A large company requires a lot of time, money and effort to make even the smallest change due to its sheer size and complex organization structure. The small business therefore, has more future-readiness.

Small Businesses and Employee Incentives

by Motivators

There will always be differences between large and small companies. Businesses with unlimited resources can always fall back on money. Internally, employees can be enticed to remain at a job by a big raise or a bonus. Owners of smaller enterprises must find creative ways to keep their employees happy. There are plenty of ways, even with a smaller budget, to make your workers feel like their hard work is really appreciated!

The employees of smaller companies, in general, live near the workplace. What better way to make them feel at home than by being involved in the community? An employee might have a child playing little league baseball – help the team out by getting them personalized jerseys! Find a popular local eatery and have them deliver lunch as a monthly reward for helping in making your business a success. By showing that you are dedicated to their community, your employees will feel like they’re part of something special.

Community involvement is a great start. You can make the bond with your employees even stronger by involving their families in your incentive project. Custom imprinted water bottles are a great handout. Put your company’s logo and a ‘Fun with Family’ message on the bottles. There are also quality-made yet affordable fun kits available, containing items such as Frisbees and koozies. They’ll come in handy during weekend trips to the park or the beach, and the whole family will know that you were thinking of them.

It’s great to be involved with the family and community, but don’t forget about the workplace itself. Little things can be done around the office to make your employees comfortable each and every day. Keep pens and other supplies around. There are fun and useful items that your employees will love, such as brush buddies. Keeping the office efficient with thoughtful ideas is a great way to keep morale high.

Your budget may not be on the same level as the bigger companies. However, by using your resources wisely, the return can be better. Your employees will feel like they matter, and it will show in their work.

Small Business Information Center

by Adorna Mathew

Starting up a small business is really a testing time for any entrepreneur; one has to undergo a lot of stress full with so much to do in so less a time. The initial phase before starting up a business is also characterized by toiling under pressure to find out what is right and what is wrong.
The major issue of concern before starting up any small business is the availability of right resources. Do you have the right kind of guidance? Do you have enough small business information? What is the source of your information?
Internet is one of the best resources for searching for small business information. You can also get some practical information on ‘how to start your home business’ and can also search for some small business opportunities that suit your taste and budget.
However, the best thing would be to visit a small business information center. You can also find out about the addresses of some government based small business information centers and administrations.
There are many local Business Information Centers which provide the small business owners and the prospective entrepreneurs with important information. The small business centers also provide contacts for state regulatory requirements for people wanting to start up small businesses.
The primary objective of any small business information center is to facilitate sustainable small business development. You also find information about licenses and permits you need to obtain and maintain in order to run your business smoothly.
Small business information you need before starting up a business:

• Information for obtaining the necessary licenses and permits

• Availability of different financing options for your short term or long term goals

• Information on some copyright and trademark issues.

• Information on how you can get some guidance from external sources.


Some of the organizations that can help you to set up small businesses are the following:

Small Business Administration (SBA)

The U.S. Small Business Administration (SBA) is an independent agency of the federal government to aid, counsel, assist and protect the interests of small business owners. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.

There are many SBA programs and services which support your small business. You can also get SBA-backed loans and find government contracting opportunities. SBA also provides disaster assistance and training programs to help your business succeed.

There are around 25 million strong small businesses providing strength to America’s economy. Despite their immense contribution to the economy, small businesses are heavily burdened by the costs of government regulation and excessive paperwork.

Office of Advocacy within the U.S Small Business Administration helps to reduce the burdens that federal policies impose on small firms and maximize the benefits small businesses receive from the government. It encourages policies that support the development and growth of American small business.

sba.gov/services/index

Small Business Development Centers

The Offices of Small Business Development Centers (SBDC) provide variety of services to prospective and existing small business owners. You can get one-stop assistance, guidance and information at its easily accessible branch locations. As a cooperative effort of the private sector, the educational community and federal, state and local governments the main aim of this center to strengthen the network of training and counseling services.

Women’s Business Center
Women's Business Centers (WBCs) represent a national network of more than 100 educational resource centersdesigned to assist women start and grow small businesses. WBCs operate with the mission to level the playing fieldfor women entrepreneurs, who still face unique obstacles in the world of business.

Online Women’s Business Center

The Office of Women's Business Ownership (OWBO) assists women in setting up small businesses. The assistance is provided irrespective of their social or financial disadvantage, race, ethnicity or business background. OWBO and the Online Women's Business Center are integral components of Entrepreneurial Development's network of training and counseling services.

sba.gov/services/lawsandregulations/advocacy/index

Whenever you decide to setup a small business visit the sites described above to get hold of some authentic information. You can also find addresses of some local business information and development centers where you can go and discuss various issues related to your business.

Show Me the Money: 7 Cash Stashes for Small Business Start-ups

by Susan L Reid

As a small business start-up coach, I get asked a lot of questions. The most frequent one: Where do I get start-up cash?

I’m always glad when my clients ask me this question. Their readiness to take financial responsibility for their business is a sure sign that they’re serious about starting it.

Not All Money Is the Same

There are two types of start-up financing: debt and equity. Consider what type is right for you.

Debt financing is the use of borrowed money to finance a business. Any money you borrow is considered debt financing.

Sources of debt financing loans are many and varied: banks, savings and loans, credit unions, commercial finance companies, and the U.S. Small Business Administration (SBA) are the most common. Loans from family and friends are also considered debt financing, even when there is no interest attached.

Debt financing loans are relatively small and short in term and are awarded based on your guarantee of repayment from your personal assets and equity. Debt financing is often the financial strategy of choice for the start-up stage of businesses.

Equity financing is any form of financing that is based on the equity of your business. In this type of financing, the financial institution provides money in return for a share of your business's profits. This essentially means that you will be selling a portion of your company in order to receive funds.

Venture capitalist firms, business angels, and other professional equity funding firms are the standard sources for equity financing. Handled correctly, loans from friends and family could be considered a source of non-professional equity funding.

Equity financing is usually a larger, longer-term investment than debt financing and often involves stock options. Because of this, equity financing is more often considered in the growth stage of businesses.

7 Main Sources of Funding for Small Business Start-ups

1. You

Investors are more willing to invest in your start-up when they see that you have put your own money on the line. So the first place to look for money when starting up a business is your own pocket.

Personal Assets

According to the SBA, 57% of entrepreneurs dip into personal or family savings to pay for their company's launch. If you decide to use your own money, don’t use it all. This will protect you from eating Ramen noodles for the rest of your life, give you great experience in borrowing money, and build your business credit.

A Job

There’s no reason why you can’t get an outside job to fund your start-up. In fact, most people do. This will ensure that there will never be a time when you are without money coming in and will help take most of the stress and risk out of starting up.

Credit Cards

If you are going to use plastic, shop around for the lowest interest rate available.

2. Friends and Family

Money from friends and family is the most common source of non-professional funding for small business start-ups. Here, the biggest advantage is the same as the biggest disadvantage: You know these people. Unspoken needs and attachments to outcome may cause stress that would warrant steering away from this type of funding.

3. Angel Investors

An angel investor is someone who invests in a business venture, providing capital for start-up or expansion. Angels are affluent individuals, often entrepreneurs themselves, who make high-risk investments with new companies for the hope of high rates of return on their money. They are often the first investors in a company, adding value through their contacts and expertise. Unlike venture capitalists, angels typically do not pool money in a professionally-managed fund. Rather, angel investors often organize themselves in angel networks or angel groups to share research and pool investment capital.

4. Business Partners

There are two kinds of partners to consider for your business: silent and working. A silent partner is someone who contributes capital for a portion of the business, yet is generally not involved in the operation of the business. A working partner is someone who contributes not only capital for a portion of the business but also skills and labor in day-to-day operations.

5. Commercial Loans

If you are launching a new business, chances are good that there will be a commercial bank loan somewhere in your future. However, most commercial loans go to small businesses that are already showing a profitable track record. Banks finance 12% of all small business start-ups, according to a recent SBA study. Banks consider financing individuals with a solid credit history, related entrepreneurial experience, and collateral (real estate and equipment). Banks require a formal business plan. They also take into consideration whether you are investing your own money in your start-up before giving you a loan.

6. Seed Funding Firms

Seed funding firms, also called incubators, are designed to encourage entrepreneurship and nurture business ideas or new technologies to help them become attractive to venture capitalists. An incubator typically provides physical space and some or all of these services: meeting areas, office space, equipment, secretarial services, accounting services, research libraries, legal services, and technical services. Incubators involve a mix of advice, service and support to help new businesses develop and grow.

7. Venture Capital Funds

Venture capital is a type of private equity funding typically provided to new growth businesses by professional, institutionally backed outside investors. Venture capitalist firms are actual companies. However, they invest other people's money and much larger amounts of it (several million dollars) than seed funding firms. This type of equity investment usually is best suited for rapidly growing companies that require a lot of capital or start-up companies with a strong business plan.

Conclusion

Start-ups often take more time and money than budding entrepreneurs are prepared to handle. Still, with the right source of cash, there is no reason that you need to live off Ramen noodles in order to get your start-up running.

How to Achieve Success for your New Jersey Small Business

by John Didomenico

Starting a New Jersey small business can be quite overwhelming and very exciting. The endless possibilities of success await you. But, there are crucial first steps you must do to ensure success. First you must learn how to start a small business in New Jersey. While, this may seem like a very tedious project is actually quite simple. Consulting with a New Jersey small business lawyer is recommended, but not necessary. The first step would be to visit NJ.gov. This is the official website for New Jersey. This website provides New Jersey residents and New Jersey small business owners an abundance of resources. Once you get there, click on the button, Business. http://www.nj.gov/njbusiness/ . Once you get there is a button, starting a business. This is an official guide from the state of New Jersey on how to start small business in New Jersey. Next, simply follow the step by step wizard. Some New Jersey small business consultants, recommend a New Jersey LLC, a limited liability corporation, which is considered one of the best options for a New Jersey small business. The reason for this is the tax benefits, liability protection, and it’s less tedious paperwork then incorporating. Always ask the advice of a New Jersey lawyer or your New Jersey accountant. The type of New Jersey small business is your first critical step for success.
Second, do the math and make sure your numbers work out, even if you don’t desire to make a New Jersey small business plan, do the math. What I mean by do the math, is think of what you want to sell, how much profit per piece and a realistic amount you can sell. For instance, a New Jersey small business owner starts a New Jersey record shop. His total profit per record is $3 to $4 gross before paying expenses. She told me that, it was easy to sell 1,000 records every month. Ok, that 250 per week, or fifty records per day. But, let’s do the math 1,000 x $4 (which is max proft) is $4,000 gross every month. Sounds good doesn’t it. However, let’s deduct $2,000 for rent, $200 electric, $100 phone bills, $50 internet, gas, tolls, New Jersey internet hosting, marketing expenses and let’s not forget the advertisement costs to get the people in the store. The expenses can keep piling up. What ends up happening is the business, starts to aquire debt rapidly. In addition, to these expenses for New Jersey small business owners take out New Jersey Small business loans, which have to be repaid monthly in addition to home expenses. This can all add up very easily and very expensively and starting off with too much debt, makes success to challenging. And my point of this article is too help you achieve success for your New Jersey small business.
Last, make sure you set enough funds on your marketing versus filling up your small business with the latest and greatest LCD TV or plasma tv. Often time, I see a small business owner spend $2,000 on a really beautiful tv for their store, but don’t want to spend money with a New Jersey Commercial printing company or a New Jersey marketing consultant. Investing in your New Jersey small business wisely is crucial. Make sure you start off smart with your New Jersey small business and work with a marketing consultant to get full color business cards, brochures and a website versus from a local New Jersey printing company. While, buying off the internet may get you a better price. It’s strategically smarter and more beneficial to work with a local New Jersey marketing consultant. A marketing consultant, will help brand your business for success. They will build your business cards, brochure, letterhead, logo, website and other marketing material to strategically sell you better and smarter. A powerful image for your New Jersey small business is crucial for your success. Start smart and success is reachable. This article is made courtesy of legendary marketing guru John DiDomenico of Business Card Gurus of Parsippany, New Jersey in Morris County.

This article may be republished or printed provided the following information below stays intact in full and the web address’s remain links.

Internet and Small Business

by Idris

Technology has played an imperative role in business operations. The advent of internet has given a new methodology to conduct business faster in a cost effective way in a limited time and space.

Internet is wrapped up with thousands of interconnected networks connected worldwide. The deployment of Internet in business has given rise to perform business worldwide to unlimited audience and it is one of the best methods for globalizing business. Internet is a powerful tool for winning a business strategy that assists companies to compete with their competitors and to improve customer satisfaction and hence internet business model has been formulated to assist companies to choose the right model at the right time.

Internet business is simply not designing websites to promote the products it has its unique process to automate any business function. Internet business helps manufacturers to understand the customer’s wants and needs by understanding their behavior when they visit company websites or research any relevant information and this in-turn helps manufacturers and marketers to produce customize and personalize product.

Internet business has changed the marketing practices of company to the great extent and hence marketers need to be more and more proactive and creative to reach and convince their audience to buy products.

Today many companies have also set up extranets with their suppliers to facilitate information exchange, transactions and payments. Internet business has given birth to e-commerce which is more and more specific when compared to internet business or e-business. The term e-commerce encourages companies to sell their products or services through internet. To be more precise about internet business; it is simply performing business using internet for worldwide audience in order to globalize business.

Advantages of Internet Business - Internet Business has its unique advantages

There is no need of physical location and hence you don’t need to have your own or rent place for starting up business as how traditional business requires.

Of course you need location that is DOMAIN NAME for website registration and its very cheap you can get for about $5 to $25 with free web hosting service.

You need website for selling your product or service. If you know programming and designing you can always do it on your own or you can hire a web developer and/or designer based on your requirement or even you can become an affiliate of some site which needs no website since your merchant will provide you website.

You can advertise your products or services for free in most of the websites say free classified advertisement site.

Since internet works on the principle of 24x7 you can reach your customer at any time.

Internet business is not geographic specific and hence you can reach global audience.

Disadvantages of Internet Business -Of course, internet has major advantages but it has some disadvantages too.

Through internet it is very difficult for the user to recognize what is genuine and what is not because users will not have the ’Touch and feel’ of some product before they buy.

Internet makes you feel isolate and hence it separates manufacturer and customer, and this ultimately end-up in lack of trust between two parties.

It is also difficult for the user to choose the product as there may be many products with different varieties advertise through internet.

Business Models:

Every Business needs model to run its business and operations. When it comes to internet it is not that companies have design or built their own models Most of the companies sustain with the following business models through internet.

Products
Professional Services
Information Business
Internet profession
E-Publishing
E-Advertising

Let’s understand the above six proven internet business model.

Products: This Internet business model includes stuffs like electronic goods, books, computer hardware and software, household, jewelry, etc. Companies may already use direct marketing to market its product.

Adopting this model is most inexpensive method to communicate universally, and consumers can look into the product through company’s website or online catalogue as it cost only the fraction of what printed catalogue cost and the duplication is achieved virtually. The vital part is to note that internet is not the business strategy. However, it helps business to formulate strategy more effectively and efficiently. These are none other than the Internet or Online retailer.

Professional/Specialized Services: This model includes Professional services such as accountants, consultants, architects etc. The use of technology has encouraged service business to devise innovative strategies to support the very nature of the business.

Service industry advertise its services electronically that is through internet and since internet reaches global audience by breaking the geographic barriers and hence today service sectors enjoy massive profit and growth since internet has out-performed the traditional advertising and it directly reaches its prospective audience.

Information business: This E-business model is for those who gather, create and sell knowledge. Internet has given a new room for this kind of business. Today people use internet for many reasons and information search through internet ranks top. Many netpreneur today adopted this business methodology and has created a success because there is lot of scope for business in this digital era and information business is one such businesses which grows with a full pace.

Internet Careers: Many people have started making careers in internet itself. This business model includes graphic artist, web designers and developers, software programmers, computer and software trainers through online, Internet marketing professionals etc. This is considered as fastest growing business and many people have started business model.

Electronic Publishing: Today people can find free news, magazines, and newsletters in the digital format. In this business model any factual written material can be published in digital format and uploaded in the website. Online or Electronic publishing is exploding since its too cost effective when compared to the printed version of newspapers, magazines, newsletters etc. There are many innovative ways that a company can generate revenue from this business model.

E-Advertising: Electronic advertising, the business model which grows constantly and is expected to out-perform the traditional advertising methods. From this business model companies can simply sell advertising space on the web which in turn generates a mutual understanding to both the parties (advertisers and publishers).

Advertisers get revenue by posting advertisement in their website and publishers gets traffic to his website and/or brand awareness of his (publishers) product through advertisement. This is really a big business and one can monetize his/her website (if available) by just selling the website space.

The above mentioned internet business model has been adopted by many companies and have created a history in this digital era. Thus internet has become the right source and a powerful tool for the businesses to create a new and innovative business strategy in order to sustain the market.

Different authors have defined Internet business models in a different manner but the actual proposition and meaning is same. To see the different internet business model terms have a look at this article. Read Here

As a Wannabe internet business you have to analyze which internet business model is best for you or where you actually fit in the whole scenario.

Small Business Tips for Success Online

by The Maverick Marketeer

Small Business Tips For Success: The feast or famine business model

The feast of famine business model merely refers to my personal perceptions of certain prevalent business models you or anyone else might likely find while searching for a business to join online.

Most often employed by many high cost or “high ticket” programs and products online, this model for business would most accurately be described as a recipe for disaster.

The underlying premise being, at say $1000 a sale, how many sales would you need to make a return on your investment, quit your job, buy a house, etc., etc. Feast or famine…

For those with a proven track record of success online, more often than not the case for them will be feast. For those with the skewed perception that any kind of success, be it success online or success in general, happens over night; I see famine in you future.

small business tips #1:

Operating your business on the firm belief that x amount of traffic will generate y amount of conversions without the market research to prove it will cause you nothing but grief.

The best way to avoid falling prey to a feast or famine type scenario is to do your homework, and make sure that the numbers support your efforts.

For PPC (pay per click) marketing, be sure to track, track, track, everything. By using tracking links in your ad campaigns you can determine your cost per lead as well as your cost per sale along with your cost per click/click thru percentages provided by you campaign provider.

small business tips #2:

Next, estimate the value of each sale. If the income is residual, what’s the retention rate of your program or down line? Once you can place a decent estimate on how much each sale is worth and you’ve calculated your cost per lead per sale, then and only then are you in business.

Flying blind with your marketing dollars in hopes that good fortune will smile upon you is far to fanciful a notion to actually be effective. Be sure to track all your marketing efforts so that you can be aware of what works and what doesn’t; as well as what could use improvement.

small business tips #3:

To some, the entire notion of feast or famine may seem a bit much like some savage struggle for survival set in the most unforgiving of landscapes. To those individuals, I would suggest that in the time it’s taken them to form said opinion, they have most likely dropped an additional notch or two on the food chain.

Business is extremely competitive by nature. The best strategy for success is to always try to ensure you happen to be among the biggest fish in the smallest pond I can find i.e. research and niche marketing.

small business tips #4:

In summary, I’d say that most endorsements of unrealistic and unfounded business practice work off the premise that people in general will always take the path of least resistance; forever hoping to not only get something for nothing but, attain great success with little effort on their part.

A very lovely notion, but so is the lottery; and your odds would probably be about the same.

Unfortunately, I’ve found out (the hard way), that internet business is not the financial freedom vending machine I was led to believe it was. For every few dollars I put in I have yet to find happiness wrapped in $100 bills (although I do remain hopeful).

Be sure to treat your business more like a business and less like a lottery and you are sure to do well.

A Small Business – With the Potential for Making Money Fast

by Kelly Price

If you want a small business opportunity that will allow you to start with some small seed capital and build wealth quickly then this is the opportunity for you.

You can learn it quickly, operate it around an hour a day from the comfort of your arm chair and take advantage of the world’s biggest business.

What is it? Let’s take a look.

Its buying and selling currencies from home before you think could I really do that? Consider this.

Many small investors are doing it and it takes a lot less money than you think – you can open a trading account with less than a $1,000.00 but it offers some advantages that make it unique in terms of making money fast.

Lets look at them

1. Using the power of leverage

Most people simply lack enough funds to make money fast, but even if you have just a $1,000 you can make money quickly with this business. Why?

Quite simply a broker will let you trade more money than you actually have by grating you leverage.

Leverage simply means being able to invest more money than you really have and an example is:

$1,000 leveraged 200:1 is $200,000 you have to invest meaning you get more bang for your buck. Most brokers’ offer 200:1 as standard and many offer up to 400:1 – You will therefore have more than enough leverage to build wealth.

But there are many more advantages including

- Everything about currency trading can be learned. All you need to do is to be able to spot repetitive chart patterns and turn them into profit.

- You have no heavy overheads, no stock, no insurance, no staff, all you need is a connection to the web and a computer and that’s it. You of course need to devote some time to this business, but that’s about an hour a day and your done.

- There is no recession, because as one currency rises another must be falling and vice versa, creating constant opportunities for profit.

This small business opportunity is available to all and if you learn the right trading method (its all free on the net) you can simply open an account and start trading for big profits.

So what’s the catch it sounds to easy?

There is no catch as such, anyone can learn currency trading but most people don’t learn the right way to trade.

Currency trading is not just about having a method its about having the RIGHT attitude and this means having the discipline to apply a trading plan and take losses ( all businesses have them ) and keep your emotions out.

Trading is easy in theory but many people simply cannot adopt the right mindset to succeed and let their emotions get involved, try to make money to quickly and fail.

If you take currency trading and see it as a business and put a specific plan in place you can make far more gains in far less time with this business than almost any other.

We will look at how to devise a business plan in part 2 of this article and turn the above opportunity into profit.

The Truth About Living Your Purpose For Small Business Owners

by Michael Spindelman

In the popular press these days, a dominant theme is about living your purpose. The articles usually ask "Are you passionate about what you're doing earning an income?" One thing about living your purpose or your passion for that matter is that living your purpose can really get ugly at times.

When you live a life on purpose you might appear selfish to the people around you. That's because purpose is about unleashing the quiet giant inside of you. That giant wants to give to the world something that tends to be larger than life. The famous comic book writer Stan Lee said "With Great Power Comes Great Responsibility"

You have to have an immense amount of love inside yourself to let your purpose come to life. When you peek at your purpose, you know that it must happen. It's a glimmer that sparks all great businesses, big and small. You are passing through you, the gift that was lovingly implanted in you at conception from the glorious universe. But you live in the everyday mundane world of hard cold realities.

All around you, you'll find well meaning people who say they absolutely support you living your purpose. (As long as they aren't inconvenienced by it.) Nobody tells you a purpose has a lifecycle to it. Only other people living their purpose know this cycle. But they even have a hard time articulating it. They will share the glory side of it and that there is no better way to live. But they won't share the phases.

Here is the hard reality I have uncovered. There is a germination phase, the assimilation phase, the achievement phase and maturity. Here's the real kicker, until you reach the third phase, you can face a lot of emotional and economic hardship. You may find that no one who knows you, will really understand you. So let me ask again "do you want to live a life of purpose?"

I don't want to scare you out of living a life of purpose. Quite the opposite, once you enter the world of living on purpose it is a Pandora's Box that can't be closed. You are a child learning to walk with everyone around you saying with a big smile (yeah right) "you can do it" while they sit on your shoulders or kick your feet out from under you any chance they can.

If you decide to create a small business from your passion you might hear a cacophony of remarks; "It can't be done", "just get a real job already" or "you can do it in your spare time". These torments only make you more determined to stand up, waddle and run. Because walking your purpose becomes the only thing controlling your existence!

So ask yourself, if you had no income coming in, would you still be doing the kind of work you are doing right now? Would you be able to endure everyone around you saying you are crazy doing what you're doing because at this moment they may see no income? Would you spend all you emotional energy and risk all your financial resources to live your purpose not knowing for certain a positive outcome? When you're on purpose there is no other choice and that's why others may not understand you. Talk to any successful business owner they'll tell you "Welcome to the world of small business."

Most people are working in a job that provides a suitable income and false safety. Yes, that's right suitable income. I specifically did not say sustainable. As soon as a JOB disappears the income stops. Suitable income is such that you have enough to pay the bills that you can't really afford. A sustainable income occurs even when you're sleeping.

What anyone who is living a life of purpose will tell you is that they can't imagine doing anything else. The amount of energy they put into their purpose creates a passion that creates even more energy. There is no working on purpose; it is only living on purpose. You get so much more than you give. "Purpose livers" will also tell you that the money takes care of itself. It does, once you abandon yourself to a "knowing" that everything will be OK and you dedicate yourself to accepting all your purpose has to offer. During the assimilation phase is when you begin to realize how to communicate your passion to others so they finally understand how your passion is about helping the world at large not a selfish lust for something.

When you reach the achievement phase of purpose, you may discover a sense of silliness and peaceful knowing that life has so much that's wonderful. A clarity falls into place and the tragedies of life are shaping tools that make life more humane. For those on the path, there is a cycle. All too often, the mature phase can introduce disharmony. But that too is part of the cycle to enter an even higher purpose with greater impact. The highest purpose is after all found when our life's activities outlive our life. And that all the lives we touched through our purpose are greatly enriched because we took a brief moment in history to love the sleeping giant within enough to teach it to walk, run and fly.

Great Part Time Small Business Startup Goals

by Craig Ritsema

There is a trend growing in America's workforce of a large number of people who want to try their skills at a small business startup company. With the flexibility and lucrative rewards available with your own small business startup, you can devote more time with your family, attend all of your kid's recitals and team sporting events without the need to ask your boss for the time off. Those people who begin a small business startup will also have more potential income than what they would have if they work at a normal job. Today, the internet and many other technological advances, entrepreneurs have many more options for starting their very own business with little cost.

Gift baskets are a superb idea for a small business startup. Being that you can build gift baskets at home and then have them delivered anywhere in the world, it is the perfect way to enjoy the luxuries and responsibilities of owning your own business while still owning the potential for a good deal of income. The internet along with websites such as eBay have helped to contribute to the popularity of this small business idea since people, your customers, can shop for gift baskets from the convenience and comfort of their own home. If you have creativity and you can turn these creative juices into product which is sent out in a timely manner, you the qualities to be successful with this kind of small business startup for many years.

Selling new and used items on eBay has become another one of the many popular business start up small information resources in recent past years. If you are a person who can sniff out something valuable at rummage sales, yard sales or in the attic, putting these items for sale on eBay can be a very profitable small business start up. Basically, you buy the items at various sales, clean them up, and turn an easy profit by selling it on eBay for a higher price. If you are good with crafts, you can make your own things to sell on eBay. If you know basic product marketing and how to attract customers, you are very much on your way to making a moderately to excellent good income by selling things on eBay from your home.

Other opportunities people have decided to start include a cleaning service that they manage on their own. Only a few cleaning supplies are required along with a little basic know-how, and a cleaning service can be a very nice profitable small business start up for self starters and motivated individuals. With societies busy lifestyle nowadays, more professionals and even multi-income non-professionals are hiring services to clean their homes for them and you can quickly cash in on this trend with very little or no training. This is an excellent idea because you can schedule your clients on a weekly, bi-weekly, or monthly basis so you can have a regular, steady income. If your business continues to grow enough, you can hire employees who will do the services for you while you manage the company from home.

Working at home with your very own small business startup is fast becoming the new standard in today's electronic society. People are worn out from the busy lifestyles and long work weeks and have chosen to pursue different opportunities. If you have small business startup ideas with a strong desire and motivation, you can create a profitable business which could eventually take the place of your normal "day" job. Or maybe you simply want to keep it part time to supplement your regular income. However, depending on your levels of motivation, experience, and passion, it is possible to create a small business startup which could generate an unlimited amount of income for you and your family.

The Right Small Business Opportunity For You

by Jim Bicardi

Are you actively looking for the perfect small business opportunity? If so, there are a number of factors you need to take into consideration before taking the plunge and becoming your own boss.

Below, we've compiled a list of some of the most critical elements when choosing the right small business opportunity for you:

Time Commitment

First, you'll want to choose a small business opportunity that fits the time commitment you can spend on it. If you can only devote a few hours per week, you'll want to stick with a small business opportunity that requires very little thought and upkeep. Something more complex won't just drive you crazy; it'll also lead to failure and a bad experience.

On the other hand, if you are looking for a small business opportunity to take up 15 or more hours per week, you can invest in something a little bit bigger and that takes more of your energy.

Investment Amount

How much money are you willing to spend on a small business opportunity? You must know this fact upfront (and don't fudge on the numbers); otherwise, you could wind up taking on an enterprise that you cannot hope to profit from.

Before you sign any contracts (if you're working as a franchisee or partial owner), make sure you understand what kind of financial commitment you're expected to contribute. That way, you won't be shocked in the future or need to suddenly take out a loan or beg money from a relative.

Product or Service

The most successful entrepreneurs work around items for which they have a passion. Therefore, find a product or service that absolutely delights you. Then, you can seek out a small business opportunity that's part of that product or service line.

For instance, if you're into antiques, the best small business opportunity for someone with your personality might just be purchasing and reselling valuable "treasures" (that were others trash!) via online or even live auctions. You'll have the enthusiasm to stick with your project, and your small business will inevitably grow because you'll be devoted to it inside and out.

Family Support

Without the support of your friends and family, it will be tough for you to succeed in any small business opportunity, especially one that requires a great deal of energy and time. Thus, be open and honest with those around you when seriously considering investing your time and money into running a small business opportunity.

Before embarking on a career as an entrepreneur, be certain that the people closest to you will help make your dreams of small business ownership come true. If they aren't on the same page, you may constantly be divided between trying to keep your enterprise afloat and trying to satisfy your circle of loved ones.