February 22, 2012

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Top Ten Questions for Budding Entrepreneurs to ask Themselves

December 13, 2011 By

In this climate of financial insecurity and redundancies many people are thinking about working for themselves. This can be a hugely rewarding experience both for fiscal reasons and work life balance but you need to start any venture with your eyes wide open. Here is a list of the top ten things to ask yourself if you’re thinking of starting your own business to help you decide if it is a good idea or should be destroyed in the office shredders:

  1. What is your product or service going to be? Who else is doing it and how does your offering stack up against the competition?

  2. What is your market place? Who are you going to sell to and are people going to be interested?

  3. What is your business plan, including any plans for growth and expansion?
  4. What are you going to charge and is this rate competitive and will it give you the profit you need for the company to be viable?

  5. Are you going to open a shop or office or operate from your home address? If you are working from home have you got the workspace you need?

  6. Do you have all the required equipment from UK shredders to telephones, a van perhaps or even warehouse storage?

  7. Do you have any capital to fund the venture or do you need to borrow money? How will this affect you?

  8. How much money do you need to earn to support your family and is this realistically represented in your business plan?

  9. How are you going to advertise, market and communicate about your business to potential customers and business users?

  10. How will you measure success or failure? How long are you going to give yourself to decide if the business is worthwhile and what is your exit strategy?

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Internet security for entrepreneurs

December 12, 2011 By

One of the most important things you can do for your own business is to get good antivirus software for your computers.

If you’ve recently left a bigger business to start up on your own, something that may not have occurred to you is the absolute necessity for antivirus protection, especially if you have been used to the IT department taking care of that kind of thing.

If you’re a one-man band now, though, you have to consider every aspect of the business, from sales and revenue, through to insurance, internet security and everything to do with your premises – if you have them.

Choosing antivirus software doesn’t really require too much knowledge about technology. Have a look online at the different programmes available and consult internet forums to see which are the most popular or reliable.

You’ll soon see which companies offer the best deals – but if you’re not sure about their reputation, find a forum to ask a question. The people on these kinds of forums are far more interested in these topics, and therefore far more knowledgeable than you, and will be more than willing to share their wisdom.

There are lots of free antivirus downloads available. Once you’ve decided on a reputable brand, search their website for a free download – or a trial version. Follow the onscreen instructions to download and install the software. If it’s a trial version, don’t forget to put a reminder in your calendar before the first payment schedule comes up – if you forget, you’ll be paying automatically if you’ve given your credit card details when you signed up for the trial, even if you uninstall it.

Once you’ve sorted out the computers, don’t forget to do the same thing for your mobile phone – these are just as susceptible to virus attacks.

 

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Is Now A Good Time to Start A Business?

August 31, 2011 By

At first glance it might not seem like a good idea to consider starting your own business in today’s uncertain economic climate, however depending on the type of business and your own individual skills it could be a tangible option. During any depressed market there are always opportunities to be explored, and if you have recently been made redundant due to economic conditions with a redundancy payoff it may prove the ideal opportunity to give working for yourself a try.

If you have a business idea then the first thing to do is research the market and the competition in order to decide if it is viable, and ultimately as recession-proof as possible. One way to do this is to see what kinds of companies are thriving during the recession and whether your idea correlates. Then check whether you can actually compete in either price or service.  There’s no point competing with established antivirus software manufacturers, for example, due to the free antivirus downloads readily available.  If you don’t have a fully-formed business idea in mind then think around your personal skills and experience and try to apply that knowledge to industry sectors which are known to be doing well.

Once you have decided to take the plunge then make sure you set off on the right foot and represent your company professionally. Make sure people can find you and understand what you have to offer, via an effective marketing strategy.   It is almost mandatory to have a web presence nowadays, alongside directory and journal listings.

Use your existing contacts, and if any run their own businesses ask them to review your business plan and possibly mentor you. Take your time and get the required details in your plan right in order to get your new business off to a flying start.

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Good Business Ideas for Teenagers!

July 29, 2011 By

Even if you’re still in highschool, summer vacations and weekends are a fab time to spend making some additional cash. There are lots of strategies for a teenager to start a lucrative business without a significant investment and without taking the focus off education and other facets of normal life. These are some business concepts for the businessman teen : An easy business concept for youths has to do with filling a local need. Anything from grass services to yard sale aides to pet sitting can help a teenager earn some additional money without much time investment. A message or delivery service can also work, and running errands for busy folks is just as preferred.

 

Log on.

If you’ve got any PC talents related to site design, put them to some good use. You’ll be unable to contend with the pros, but that doesn’t mean you can’t offer reasonable options to local enterprise who desire a web presence. Another great internet business concept is to join the eBay revolution. The business structure is easy, and when you have found a focused market, you can make an excellent deal of cash from your house PC. If you happen to have a special talent put it to some serious use. A craft business can be rewarding if you can come up with an original idea, but don’t drop party planning ( children ‘ birthdays ), schooling ( anything from piano to arithmetic ), and writing for a local newsletter or regular. Don’t drop seasonal concepts : ice-scream stands or beach sales in summer, or ski lessons in winter. Even selling ice can work if you do it around special vacations when folk haven’t got any time or space in the fridge to handle this. The most simple business concepts can be profit-making if approached the correct way. When you come up with a business concept that pulls you, do the research. See whether other folks appear interested by the prospect and learn who your local competition is. If you’re unsure what to do, start tiny, with buddies and family members, and then begin to expand as you’re feeling more assured

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