Saturday, March 14, 2009
Wednesday, March 11, 2009
Tuesday, March 10, 2009
How To Start A Business
How Too Start a Business
In many cases I should say about 95% of the population is taught since we we’re children to go to school, and qualify for a good college or university program. After post secondary we are then told to go out and find a great job that pays a reasonable salary that pays benefits and pensions. Although this is good advice to have, if you’re looking for more in life then you shouldn’t bank on this idea to free you. As a society it’s would be best if we teach our children the benefits of being able to help develop the economy and control their income at the same time. A good idea would be to teach them to get a job and open a business part time. A Job should be maintained until business revenue passes your working or until you can maintain your life style from your business. I will be explaining how to start a business and what you need to do to get started to help you succeed.
First you need to know difference between someone who’s self employed and a business owner. A person who is self employed owns his or her job, but is still limited to the amount of income they make based on the amount of customers they see for the year. A business owner owns a system that runs automatically even if the owner is there or on vacation, the system still makes money. For example a hair stylist is self employed, if he or she decides to take a week off work there income completely stops for that week and they make no money. On the other hand if the hair stylist had a couple employees working for him or her they would still make money from the business in the form of an override (An override is getting paid for work your employee does without you present). The first step you need to take to starting a business is finding out what type of business you would like to own, that part is strictly personal but it would be a good idea to start something that is in or going to be in high demand. The second step is to create a business plan, if you don’t know how to start a business plan you can Google examples and templates. Also if you need further assistance, you should get in contact with the business development department for the province or country you live in.
The next step is very critical in starting a business because if you don’t have this then it’s very hard or impossible to start the business you desire. You to find out how much funding you need, this dollar figure should come from your business plan. It is best to try and find a business opportunity or start a business that has minimal start up cost to it. The system should create revenue with minimal expense so you don’t need to dip into your own pockets to maintain it. If your start up costs far exceed your assets then it would be advisable to look for a government grant, or get a loan from a bank. You can find grant information on the internet or by going to your local employment office. Funding is primary in starting a business don’t be discouraged if this step is the hardest just keep looking and the right opportunity will find you.
Your business should be easy to duplicate and quick to make profits, so you can start enjoying the benefits of being independent. You must always remember that even if you fail the first time don’t be afraid to try again. Thomas Edison failed hundreds of times inventing the light bulb, and his refusal to give up helped give birth to one of the greatest inventions know to mankind. There is no price tag on freedom so why put a price tag on your time spent making someone else rich. My next blog I will be speaking about the difference between owning a business and having a job, so stay tuned and do your research.
In many cases I should say about 95% of the population is taught since we we’re children to go to school, and qualify for a good college or university program. After post secondary we are then told to go out and find a great job that pays a reasonable salary that pays benefits and pensions. Although this is good advice to have, if you’re looking for more in life then you shouldn’t bank on this idea to free you. As a society it’s would be best if we teach our children the benefits of being able to help develop the economy and control their income at the same time. A good idea would be to teach them to get a job and open a business part time. A Job should be maintained until business revenue passes your working or until you can maintain your life style from your business. I will be explaining how to start a business and what you need to do to get started to help you succeed.
First you need to know difference between someone who’s self employed and a business owner. A person who is self employed owns his or her job, but is still limited to the amount of income they make based on the amount of customers they see for the year. A business owner owns a system that runs automatically even if the owner is there or on vacation, the system still makes money. For example a hair stylist is self employed, if he or she decides to take a week off work there income completely stops for that week and they make no money. On the other hand if the hair stylist had a couple employees working for him or her they would still make money from the business in the form of an override (An override is getting paid for work your employee does without you present). The first step you need to take to starting a business is finding out what type of business you would like to own, that part is strictly personal but it would be a good idea to start something that is in or going to be in high demand. The second step is to create a business plan, if you don’t know how to start a business plan you can Google examples and templates. Also if you need further assistance, you should get in contact with the business development department for the province or country you live in.
The next step is very critical in starting a business because if you don’t have this then it’s very hard or impossible to start the business you desire. You to find out how much funding you need, this dollar figure should come from your business plan. It is best to try and find a business opportunity or start a business that has minimal start up cost to it. The system should create revenue with minimal expense so you don’t need to dip into your own pockets to maintain it. If your start up costs far exceed your assets then it would be advisable to look for a government grant, or get a loan from a bank. You can find grant information on the internet or by going to your local employment office. Funding is primary in starting a business don’t be discouraged if this step is the hardest just keep looking and the right opportunity will find you.
Your business should be easy to duplicate and quick to make profits, so you can start enjoying the benefits of being independent. You must always remember that even if you fail the first time don’t be afraid to try again. Thomas Edison failed hundreds of times inventing the light bulb, and his refusal to give up helped give birth to one of the greatest inventions know to mankind. There is no price tag on freedom so why put a price tag on your time spent making someone else rich. My next blog I will be speaking about the difference between owning a business and having a job, so stay tuned and do your research.
Subscribe to:
Posts (Atom)