|Small Business Information|
Starting a Small Business: Balancing Risk and Reward
In a perfect world, starting a small business would be risk free, but just as with everything else; the degree of risk determines the value of the reward.
According to the National Commission on Entrepreneurship, at any given time, 6% to 9% of the United States adult population is involved in planning for a new business. Most of these aspiring entrepreneurs, they say, will start a "Lifestyle Business" ? primarily providing employment to themselves and their families. The balance will find themselves in "Entrepreneurial Firms" ? those growth companies that, according to the NCE, created two-thirds of net new U.S. jobs in the 1990s.
Both are fraught with risk ? and potential reward. Ask a small business veteran about the risks, and three likely come to mind: employees, inventory, and accounts receivables. These are both the bad news and good news of business. In the audiobook, "Sound Advice on Small Business," author Jim Schell says, "The bad news is that they're a headache to manage, but the good news is they exert leverage."
What business would Schell, a seasoned entrepreneur and co-author of "Small Business for Dummies," start if he had it to do all over again? With his tongue planted firmly in his cheek, he says in a perfect world it might be any business without employees, inventory, and minimal accounts receivables. Seriously, though, Schell says, "Without [them], you can only grow so far, so big. With them, the world is our oyster."
Jim Schell offers advice to entrepreneurs on managing a small business each week in the free audio newsletter from What's Working in Biz, http://www.whatsworking.biz/full_story.asp?ArtID=92
About The Author
Cunningham is a principal of What's Working in Biz, http://www.whatsworking.biz, a publisher of business audiobooks and online audio programs on marketing, sales, and small business strategies.
The Franchisors Heavy Load
Why are we over regulation the franchising industry, what purpose does it serve? Rules and laws are fine, level playing fields are nice, but the customer votes with their dollar and the entrepreneur and companies can only sell what people are willing to give up that unit of trade we call a dollar for.
Small Business - Would You Still Need An Accountant If You Didnt Need A Tax Return?
After over thirty years advising small business it still comes as a surprise to see the number of small business owners who are only interested in their financial results when it is time to do their tax return.
Finance Your Small Business: So Much Money, So Little Time
$37.4 million funded from venture capital today. $86.4 million funded yesterday. $51.4 million funded the day before.
Have You Thanked Your Competitors Today?
Competition in the business world is often viewed as a negative thing, but it doesn't have to be. Competition can benefit you, your competitor, and especially your customer!
Where to Find a Cash Windfall of $10,000 to $1,000,000 -- You Never Knew You Had
There is a rather famous true story called "Acres of Diamonds".
Professional House Cleaning - The Dirty Little Secret
Are you tired yet of all the books out there telling you how easy it is to start a house cleaning business? I'm not inferring that all their information is bad, but let's be honest about how "easy" it really is.
Small Business - A Thing Worth Doing Is Worth Doing Badly
A thing worth doing is worth doing badly. Yes I know that it should be 'well'. My grandma drummed into me that whatever I did I should do it as well as I possibly could.
Business Checks are an Added Cost to Your Small Business - Try Making Them Yourself!
Starting and managing a small business is no fun chore, especially when it comes to the accounting. There are a few common sense ways that you can help that bottom line.
City Wide Garage Sales: Hidden Riches!
Most of us remember going to at least one garage sale in our lives. It may have been called a yard sale, garage sale or flea market. The name didn't matter it was all the same. Other people selling what they thought was trash to people who thought the items were treasures.
Carwash Franchisor Case Study
There are only a handful of car wash franchises in the world. This might offer some insight on how car wash franchises come into existence. This is a crazy story. It is the history of our company and how we ended up in the Carwash Franchise business. One of our franchisees of our mobile car wash business; The Car Wash Guys, was in Idaho, was the son of a wheat farmer, the areas largest farm family land holder in Idaho's banana belt. About a month before he called us I put up this web site called www.detailguys.com and said what the hell, I will put up a form in case someone wants to buy a franchise for only auto detailing and not mobile car washing we can make a sub franchise out of it. Previously I did a couple of trade shows. The Black Expo and a BizOp/franchise show, great results and really I did not need any leads. But what I learned was their were significant people wanting low-priced franchises. So I put up the website and put a form on it and the very next day I get a lead from Phil the farmer in Idaho, looking for a simple business. He wanted to start a business, but stick more with auto detailing on a mobile bases, which was slightly different than that of our mobile care wash franchise. So he wanted a franchise ID. But heck I was in CA and ID seemed like another World at the time. It was. Things went good, because we made it work and Phil then bought a car wash guys mobile truck and later an auto detailing trailer and hired on some more workets.
Overcoming Your Biggest Competitor
Before you read any further in this article, I'd like you to take a moment and write down who your biggest competition is.
Contract Cleaners ? A Guide for Business Part 2
In the first part of this article I put forward 7 questions that I believed were important to ask of your potential cleaning company. In this article I will explain the relevance of the first two questions and the answers you get to you as a business.
Doing Business With Friends: Five Tips for Preserving the Friendship... and Your Sanity!
My colleague, Jane, recently lamented to me an all too familiar story about mixing business and friendship. Jane subcontracted copywriting work out her friend, Joan. Jane's copywriting business was blossoming (partly in response to her most recent brilliant article marketing campaign) and giving the work to Joan seemed like a win-win for both of them.
Boat Hull Cleaning Procedures for Owners and Detailers
For really tough boat hull cleaning you will need to break out the acid. Muratic acid is the best for this. You'll want to have a 50/50 mix of muratic acid of 6-8% concentrated (12% is the highest concentration you can legally buy over the counter), water and a good strong sprayer. You can purchase muratic acid at Wal*Mart, K-Mart, Pool Supply Stores, Home Depot, Lowe's, Van Waters and Rogers Chemicals. Sears Craftsman makes a nice strong sprayer or try a local store for another brand of commercial pump-up sprayer.
Are You Making the Most of Your Intern?
KEEPING INTEREST HIGH: Supervision is key to the success of the program. Interns like direction, but don't like to feel they are being constantly checked on. Even this small amount of direction, however, can take a great deal of time. It is important to be willing to set aside this time to give the intern direction. One method that seems to work calls for a briefing at the beginning of each day and a "where-do-we-stand?" briefing at its end. Throughout the day, the manager is on hand to answer any questions that might come up -- remember this is a learning experience! There should also be additional time set aside throughout the duration of the internship during which the manager receives feedback from the intern on his or her satisfaction with the assignment and suggestions for future directions. Equally important, interns should receive feedback on their progress. They need to know if they are performing to the manager's expectations. Additionally, many interns have chosen to keep diaries and time logs documenting their involvement. These can be reviewed at the conclusion of that person's internship.
Small Business Publicity -- Worth It?
You bet it's worth it. Publicity via news releases, along with building relationships with reporters and editors is really good for your small business.
How To Write A Business Plan
Writing a business plan is a fundamental step to ensuring your business has every chance of succeeding. Common statistics state that 9 out of 10 businesses fail on the first 5 years of operation, and of the remaining 10%, 90% fail in the following 5 years.
Are You Running Your Business or Is Your Business Running You?
Being a small or home-based business owner can be loads of fun and very rewarding.
Racing the Competition
What is the Big Race all about when it comes to creating relationships?
Successful Small Businesses Use PR
It's obvious when a small business has accepted the fact that its most important outside audiences need lots of care and feeding. They do something about it.
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