Business Basics

3 Essential Elements Of Operating A Successful Business

2009-06-02T22:56:00.001-07:00

Posted by Michael Brassil on: 2005-09-10 20:18:02

Have you ever imagined what it would be like to live your dream? A good place to start would be to recognize that there are three elements, and only three elements, that separate success from failure. If you exercise one of the elements, you might just be successful. Two and you will probably succeed. Three, and you can practically guarantee your success.

What are they? They are deceptively simple, and deep down inside you know what they are. But to purposefully write them down and use them as guides in selecting your dream business will make all the difference in the world. As you go through this exercise, you will dramatically build on your chances of success. Nowhere will it count more than right here, deciding how many of the three essential elements will qualify you to realize your dream.

1. Find a need!

Is there a market niche for your particular product or service? Does the world, or even your community, need what you have to offer? Only by sampling and testing will you be able to determine this with any degree of certainty, but we will be covering this as we go along in greater detail. The most important aspect would be to determine a Unique Selling Proposition for your product or service. Too many business owners are just trying to be me-too companies. You cannot be just like the next guy and expect to prosper in this volatile economy.

One of the most important things I learned from my Dad was, there are really only two things to consider, and next to them everything else is minor. Those two things are: (1) What do you really want? And just as, and perhaps even more important, (2) Are you willing to do whatever it takes to achieve it?

What do you really, really want from this endeavor? What is your ultimate goal? Are you willing to do whatever it takes to achieve this goal? Instead of looking for a business based on how much money you can earn up-front, select a business based on your love for that endeavor. The most successful and fulfilled people are individuals who are following a dream or vision of their own. They are not just out trying to make a buck.

What opportunities can you act upon? Woolworth saw a need for small inexpensive items and opened the chain of stores that grossed billions. Wrigley started giving gum away as a bonus, and seized the chance to expand worldwide.

You must create a uniqueness to your product or service. What can you offer that no one else can offer? Is it a better warranty, improved customer service, more technical support, faster shipping, or lower price? Think of something that will set you apart from your competitors and describe in detail exactly what it is.

2. Be good at what you do.

Are you as good as, or better than, the next guy when it comes to producing/marketing your product or service? This element requires an honest self-assessment. "What are my abilities?" To determine your abilities you must take an honest inventory of yourself. Examine every possibility and be sure to include strengths and weaknesses. Will your strong points be able to let you overcome your deficits?

3. Have true passion for the business.

If there is one element you absolutely cannot do without, it is passion. Passion is an irresistible attitudinal energy that generates power. Do you have a passion for working with your particular product or service? Notice, I didn't say "do you like what you want to do?" There are too many competitors out there who are ready, willing and able to "eat your lunch" when it comes to competing with you. They may have found the same niche that you have found. They may like what they do as much as you do. But what separates the winners from the losers is passion.

What are you really passionate about? If your answer is, "I'm passionate about making a lot of money." That is not the right answer. Making a lot of money is consequence of engaging in a successful activity where you remain motivated long enough to be successful. The key to creating passion is to find and do what it is that you truly love. Passion is the laser-like focusing of our creative life force. We do not create passion. (Don't confuse passion with being a workaholic. Workaholism devours while passion amplifies.)

So there they are, the three key elements to having a successful small business.

About the Author

Michael (Mike) Brassil is author of "The Only Business Start-Up Guide You Will Ever Need." Download two chapters -- Starting a New Business and The Home Working Revolution -- at: http://www.ImpactGuide.com

How You Can Become A Certified And Profitable Proofreader

2009-06-02T22:55:00.001-07:00

Posted by Niall Cinneide on: 2005-09-10 20:18:18

A certified proofreader is one that has taken a few courses and learned the proper way to do proof reading work. It is essential that individuals who want to become proof readers, have qualifications that can help them to prepare work that is of high quality. There are many different things that you can do to get this security in your work, but for a proofreader getting to be certified is a solid step in the right direction.

Many people are searching for a career they can call their own. For those looking in the writing and editing fields, freelance work is an attractive option. But in order to get jobs and provide work that is of high quality, an individual needs to maintain a high level of educational standards. Becoming certified is an outstanding investment. There are many different options including help in writing clearly, without grammatical errors that are embarrassing and often costly. A proof reader can gain the qualifications they need to excel here.

For anyone who is looking at becoming a qualified proof reader, it is necessary to get the training you need. Because being a freelance agent means that you have to generate your own business it is necessary to make sure that a great job is done from the beginning. It is vitally important that the proof reading you do is perfect for the clients' needs. By getting certified, you can be well on your way to impressing clients time and time again! These simple seminars or courses can help you develop the skills that you need to deliver effective copy each and every opportunity you get.

What makes it even better is that many courses are available right online. You can get the training you need from home while working on building your freelance career. Can it get much better than that?

About the Author

Visit http://www.FreelanceWritingResource.com for more Articles, Resources, News and Advice about Freelance Proofreading Jobs. Copyright © FreelanceWritingResource.com. All rights reserved. This article may be reprinted in full so long as the resource box and the live links are included intact.

How To Make More Money Extending Credit

2009-06-02T22:54:00.002-07:00

Posted by Michelle Dunn on: 2005-09-12 17:25:58

Easy, quick and painless. If your Credit policy is flowing smoothly, it is probably all of these.

"Become the Squeaky Wheel," a new book written by a leader in the debt collection industry, Michelle Dunn, explains that Credit policies are a must for any business. Her book will give you the tools you need to collect more money and prevent bad debt in the future.

Some steps you can take to make your credit policy, Easy, quick and painless are:

1. Make it easy for the customer to get credit with you. Have packets paper clipped together at the front desk, include the credit application, automatic payment permission forms and anything else you want filled out before opening an account. 2. Make it quick, by having these packets ready and waiting for anyone who comes in. Have pens and clip boards available so they can be filled out immediately. 3. Make it painless, by either having them wait and running the credit application while they are still there or responding to them within a certain time period, say 24 hours.

"Consumers today, like everyone else, are expecting convenience and speed," explains Michelle Dunn. "If you make opening up a credit account difficult or are unorganized, you might lose the customer."

"Customers that are approved for credit, will buy more if they can pay later, so make the process as streamlined as you can," says Dunn.

About the Author

Michelle Dunn has over 17 years experience in credit and debt collection. She is the founder of Never Dunn Publishing, LLC, is a writer, consultant and the Editorial Advisor for Eli Financial Debt Collection Compliance Alert Newsletter. Michelle started M.A.D. Collection Agency and ran is successfully for 7 years. She owns and runs Credit & Collections.com a free online community for credit and business professionals.

She has written 5 books

Interview Technique - How To Get The Job

2009-06-02T22:54:00.001-07:00

Posted by Gina Gardiner on: 2005-09-12 17:26:08

Are you just about to leave university? You are just setting out in the job market? You have a number of hurdles to get over before you have the job you have been dreaming of. You find the thought of an interview daunting. You want to make a good impression and succeed!

Creating a good impression at an interview isn't rocket science. This article will help you face that all important interview with confidence.

Remember most interviewers will have made their minds up in the first 2 minutes. Be on time, look the part and look as if you really want the job.

Think about job and the image you present. It is your opportunity to impress not shock. Be comfortable but dress the part. Nails, hair should be clean and well presented, your shoes shiny, the interviewers should notice you rather than your jewellery or perfume/aftershave.

Smile, you need to show that you are enthusiastic

Think about how you sit, sit back in the seat but don't sprawl. Think about what you are going to do with your hands.

Make eye contact, it is usual to make the person who asked the question the person of main focus. Remember to scan the panel so everyone feels included. Looking at your hands, the floor or out of the window is a real turn off when you interview someone.

Most interviews start with a question about you…"So tell us a little about yourself." Prepare the answer so you can feel relaxed. Think about the high lights rather than give a 10-minute ramble.

Watch the interviewers body language. If they are falling asleep it is a bad sign. You can always ask if they would like more information.

Prepare thoroughly, research what the job entails. Consider the skills and knowledge base needed and do a self-audit comparing it with what you have to offer. Enthusiasm and energy can often make up for lack of enthusiasm particularly if you make it obvious that you have done your research and have the potential to learn.

Most interviews are lost because the candidate doesn't actually listen to the question. Listen carefully; if you don't understand what they want ask them to repeat the question.

Think about exactly what they are asking - what do they need to know? Is it referring to particular skills, knowledge, principles, understanding, your experience etc.

Use the question as a platform to sell yourself, but be honest. If it is appropriate use the question to give concrete examples of what you have done/can do. Be careful not to become anecdotal you must make a clear connection between the question and your answer.

If you don't know something it isn't the end of the world. Interviewers would rather hear, "I don't know but I'd be really keen to learn," than discover too late that you have been dishonest.

Finally remember that most people who interview are also anxious, as the success of their business is dependent on appointing the right people. Do your best, be yourself and if you don't get the job ask for feedback on your interview. In this way the interview becomes part of your professional development and not a failure. Good Luck!

About the Author

Independent Consultant, writer and life-coach Gina Gardiner supports people at individual or organisational level to develop confidence, leadership and people skills and effective delegation; empowering them to see themselves as part of the solution. If you would like to know more email: gina.gardiner@ntlworld.com Phone 01708 703959 or look on www.firststeptothefuture.com

Great Franchise Opportunities

2009-06-02T22:53:00.001-07:00

Posted by Trevor Marshall on: 2005-10-12 23:10:16

If you are thinking of setting up a small business yet you are still unsure of what you exactly want to do or are scared to death of not being able to generate good business, then you must try looking into these franchise opportunities and choose the right one that will suit your taste and budget. An important factor to take in consideration is your ability to actually run your chosen franchise opportunity efficiently and successfully.

One of the most popular franchise opportunity nowadays is the "EmbroidMe" franchise opportunity wherein you can create custom-made apparel as well as merchandise which has embroidery on it. EmbroidMe actually has the tagline, "Casually Dressing the World" in its retail showrooms wherein it aims to make their company known through all forms of medium, in corporate marketing programs as well as over the internet. EmbroidMe is outfitting their customers with creatively customized apparel not just for work but for play as well. They also offer all sorts of promotional merchandise as well as advertising specialty items.

The catch point(s) of the EmbroidMe franchise opportunity are its sudden commercial boom. It’s a highly new and fresh revolutionary industry concept. This franchise opportunity's great and organized system allows the wonderful opportunity of being your own boss. You do not have to answer to anyone but yourself! According to Ray Titus, the president of the EmbroidMe company. They are looking for willing entrepreneurs who are dreaming of running and managing their own business but in spite of just having a small business, they are well provided with many benefits that a stable global company can offer them - not to mention, mass purchasing power as well as great advertising apart from the other possible additional help that your EmbroidMe franchise opportunity might be needing in the future.

EmbroidMe offers full service embroidery as well as screen printing and other promotional products to its customers. The EmbroidMe "empire" actually now has over 250 stores all over the world and has been rated as #1 in the industry for four consecutive years as well as being one of the 50 fastest growing franchise opportunities according to Entrepreneur Magazine.

When it comes to the EmbroidMe staff's training and support, a turnkey franchise the EmbroidMe company will actually assist in the demographic studies of the area that you want to put up your EmbroidMe franchise. A study on your site selection as well assistance on lease negotiations would be conducted. The EmbroidMe company will also coordinate with you for renovations that will be done on your store. This franchise opportunity will also provide an excellent 4-week training program for you and your staff. Not only that, this franchise opportunity will also assist you in conducting interviews, hiring and training prospective EmbroidMe employees since this is a service oriented franchise opportunity it is highly important that every employee must be able to comply and adhere to EmbroidMe's strict rules and regulations.

The special features of this franchise opportunity are the following: turn key, absolutely no experience is needed, it is not a seasonal type of franchise opportunity, it is a business to business franchise opportunity, it needs only two employees and is a part of a $20 billion plus industry.

Another hot franchise opportunity is the "SIGN*A*RAMA" franchise opportunity which is considered as the largest full service sign franchise in the whole world and has over 700 "SIGN*A*RAMA" stores in 30 countries while being rated as the #1 in the industry for 6 years running by Entrepreneur Magazine. Also headed by EmbroidMe's president Ray Titus, "SIGN*A*RAMA*" is just like EmbroidMe. "SIGN*A*RAMA*" is also looking for willing and able entrepreneurs who want to have their taste of being their own boss while having the incredible opportunity of being part of a well-known company.

When you sign up for this franchise opportunity expect to receive the following premium features: when it comes to equipment, they have the full service sign centers wherein they make the most of computerized sign making technologies. The "SIGN*A*RAMA" Sign Center actually allows the customer to have a look at the draft of the sign that they wish to be made before it gets the "go-signal" for it be printed. This franchise opportunity will also assist franchisees in picking out their desired franchise location, their lease as well as in the marketing aspect of the business.

About The Author: For more great franchise info and advice check out: http://www.great-franchises.com

Top 7 Ways To Profit From Foreign Trade

2009-06-02T22:52:00.000-07:00

Posted by Stephen Pope on: 2005-10-13 00:45:29

Here are seven excellent ways to earn income from international trade.

1. Importing: Retail store owners can find additional products to sell from foreign manufacturers, distributors, and other suppliers. You may even decide to go exclusively into the import business and become a wholesale distributor.

2. Exporting: Manufacturers can find new customers for their products in foreign countries. You could also become an Export Management Agent. Arrange for other domestic companies to sell their products to foreign corporations and earn a commission.

3. Licensing: Consider becoming a licensing agent. Earn royalties by arranging for foreign corporations to manufacture and sell the products of domestic companies.

4. Finder`s Fees: You can earn fees from domestic companies for finding foreign buyers (or for finding suitable imports from foreign suppliers). You can also earn fees from foreign companies for finding domestic corporations that will buy their products (or for finding suitable suppliers and products from domestic corporations).

5. Drop Shipping: Visualize receiving an order from a customer based in a foreign country and not having to be bothered with shipping and handling the product. No customs declarations or brokers are required by you. This is because your drop ship supplier is handling those details.

6. Mail Order: Add a mail order service to your existing business operation. Manufacturers, retail stores, and other businesses can increase their sales by using this additional method of selling that is very conducive to international trade.

7. Internet Marketing: You can also extend your reach to worldwide customers by means of the Internet. Methods of obtaining foreign business include affiliate marketing, online auctions, online stores, and websites. About The Author: Stephen Pope, President of Pope Consulting Inc., has been helping clients to earn maximum business profits for over twenty-five years. For more information about international trade and other profitable Work at Home Small Business Ideas, visit http://www.yenommarketinginc.com/impexp.html

Bankruptcy 101

2009-06-02T22:51:00.000-07:00

Posted by Mansi gupta on: 2005-10-14 00:52:38

‘Bankruptcy’ the term that can raise the goose bumps of almost every individual who hears it and even a nervous breakdown to those who confront it. Bankruptcy stands for the situation when a person runs into huge debts and there is hardly any money left with him to repay those debts. The clouds of bankrupt situation can hover over anybody’s life be it a successful business man who has never ever fathomed it or any greenhorn entrepreneur who had thought of going a long way ahead.

There are several reasons behind this insolvency-

Indebtedness-people usually take big loans from the banks and private companies in order to run successfully their business or company. However, since the economy is constantly fluctuating, one might not be able to incur expected results or profits. So, the loan debt with interest rates gets piling on. The loan can also be taken to pay off a bill that you missed paying. The loan is taken instantly in this case without an assessment of the interest rates. This can be cause snags later.

The credit card bills are also a source of trouble. They are charged with good interest and at the end of the month when the expenditure has chewed your month’s income; the credit card bill can make you bite the dust.

In the world today where fraud and betrayals are considered to be the bets virtues, any partner or shareholder or director might connive to pitch the company or business to bankruptcy. Here the reasons can be mutual squabbles and vengeance.

Gradual denouncement from the market- the commodity you sell today at price X, may be sold tomorrow by some other company at a much cheaper price Y. This can oust or eject your product from the market replacing it with a relatively cheaper one.

However, where there is a will, there is definitely a way. Just as there are two sides of a coin, there are two aspects attached to everything. When you glare at the negative side of the situation, its positive aspect is lurking behind according to which bankruptcy can be seen a situation that provides you a golden chance to start things afresh.

This is done by filing your application for bankruptcy, in a way seeking help from the government to help you overcome the disaster. Once you forward your application and it is accepted, the government repays most of your debts. This becomes possible by taking hold of your assets and dividing them amongst the creditors in an organized manner. But the debts that are associated with embezzlement or those huge ones that cannot be covered up via one’s assets can be problematic. In case of businesses filing for bankruptcy, certain procedure has to be followed up.

Besides this there are a few debt consolidation services that advertise themselves through television, print media etc. Debt consolidation signifies using a loan provided by that service to repay other debts. This loan is comparatively at a lower rate of interest and it often becomes easier for many to repay one loan instead of five to six ones.

In any case, if you are seeking financial aid from the government, banks, services etc., there stands the barrier of qualification. It is that you should be able to prove the service or the bank that your case is authentic and not a fraud. In order to escape future troubles, the government has formulated strict laws and eligibility criterion in this area.

However, in any case it is better to seek the advice of an advisor before seeking help to make up your crisis. This will not just educate you about all the related terms and conditions but also the possible legal and financial consequences. Just keep in mind that help always comes to those who are look for it with a true heart.

Mansi gupta writes about bankruptcy Learn more at http://www.bankruptnomore.com

Business laws basics

2009-06-02T22:50:00.000-07:00

Posted by Mansi gupta on: 2005-10-14 00:53:01

A professional degree in Juris Doctor relates to a higher grade of studies in law. With business houses expanding in size and the legal issues gaining higher importance for day to day working of large corporates, demand for Juris Doctor professionals has been increasing. As the business interacts more with the society and their other counterparts need to resolve legal matters emerge simultaneously. All this has given an impetus to students aiming for career in law field. But a purely law background without any corporate experience may not be well accepted by business industry. Top ranked services in companies also demand a graduate in business organization along with lawyer’s degree.

As demand for combined degree in JD and business is being a preferred combination to build a rewarding career in law. Business and law schools at various places have joined hands to impart students with best career courses. At many places Law Schools providing degrees of Juris Doctor and business school providing Master in business administration present a cooperative program for the convenience of aspiring students. This opportunity to avail concurrent degrees in both fields is a stepping-stone for success of students. Students who cannot travel to different places at the same time have a best prospect of finding excellent professional training under one roof.

Surviving in the law field gets tougher from the day one tries to enter the school of law. Getting admission requires fulfilling entire formalities along with earlier creditable basic high school record, clearing the admission test for the law school and even recommendations from people. The same is applicable for business studies a student is required to prove his quantitative skills and efficiency in microcomputers to get admitted. A dedicated and hard work during the courses ensures students with excellent results which in turn to provide better career opportunities.

A law person has various prospects for different types of career that he would like to accept. Depending on his caliber and willingness to work hard a lawyer can decide upon practicing law in an exclusive law firm or he may choose to be an in house lawyer. An exclusive law firm requires an extensive knowledge of one particular area in law where as an in house lawyer is required to deal with entire aspects of legal issues that relate to the particular company in which he is involved.

While undergoing training in one of the law schools a student would learn about different aspects of law like civil law, criminal procedures, constitutional law, contracts, property, professional responsibility, basic federal income taxation, legislative and administrative interpretation and many others. The syllabus is cautiously devised to ensure that students receive exhaustive training to deal with maximum situation in the professional front. Similarly Masters Degree in Business administration imparts education in business for global society, corporate finance, managerial accounting, information resource management, strategic management, master’s project and other similar relevant courses. Anyone pursuing both law and business studies simultaneously has an advantage of studying some courses that are counted towards both degrees and hence a considerable amount of work is reduced for these students.

ansi gupta writes about business laws Learn more at http://www.jdforbusiness.com