Financial Solutions » Small Business

8 Great Businesses Ideas

Eric — Sun, 22 Aug 2010 16:31:24 +0000

Traditional concept that the economic downturn that began in the new business is a bad idea. But we’re learned a number of industry growth, despite the shaky economy. This is now the affairs of some the best idea. Most don’t start the resources or capital requirements, and many can be from your home (or backyard) run. All you need is a little innovation and some hard work.

1. Mobile Design and Development

The mobile world is heating up. The smart-phone market has exploded, and with the introduction of the iPad, mobile usage for websites is going to keep going up. This presents a great opportunity for web designers and programmers to dip into a growing industry, and there are plenty of opportunities to develop things like custom branded web applications, design mobile sites for companies, and on and on.

2. Local Farmer

“Local” and “green” have become incredibly popular buzzwords in e-commerce for the past couple of years. What’s more local and green than being a local farmer? Local farming has taken off as well. More and more stores are starting to stock local food and promote local farming. There has been a massive push towards buying local, with major chains adding “locally grown” sections. Farmer’s markets are becoming more popular too, with over 5,000 markets in the US, and growing. There is plenty of opportunity to be a local grower, with many options for specialty crops with relatively low start-up costs.

3. Environmental Consulting

Because “going green” has become so popular among consumers, it’s only natural that companies are jumping to make their products and services more environmentally friendly. Teaching these companies how to make themselves more environmentally conscious over the next few years is going to be booming business. IBISWorld estimates that there will be a 9% growth year over year within the environmental consulting industry.

4. Handmade Goods

Now that the internet has made the world a little smaller, it’s much easier for individuals without physical storefronts to create and sell products solely online. Sites like Ebay and Etsy have created entire marketplaces for buying and selling handmade goods. All you need is a Paypal account (which is free) to receive money, and you’re ready to go. The best part about selling handmade goods is that it takes very little startup capital. If you have a hobby that you’d like to turn into a business, selling handmade goods is a quick and easy way to go.

5. Small-Scale Food Producer

Aside from being a local farmer, the small-scale food production industry is heating up. Typically these producers use a membership model approach to keep a recurring revenue in place, offering weekly deliveries of hand-made food and keeping a regular client base. The recurring model is great for maintaining a steady revenue stream instead of relying on one-off sales. The goods offered might include bread, fresh produce, dairy, and baked goods.

6. Bakeries

Bakeries, pastry, and bagel shops are growing at a rate of 5%. AnythingResearch.com believes that the research shows that people aren’t indulging on bigger purchases and instead splurging on lower-priced niceties. Small, niche baked goods stores are starting to grow rapidly.

7. Indie Video Games

It’s become much easier to self-publish any type of video game with services like XBox Live. Microsoft has provided a development platform for small-time developers to create games to sell on their marketplace. The $44 billion video game market continues to grow, especially with the mobile and tablet markets taking off. Or you could try the iTunes App store for a mobile development platform. Nielsen found that of all the mobile applications that are being downloaded, 65% are games. There is plenty of opportunity and a low barrier of entry for game developers to tap into the massive mobile platform that Apple has created.

8. Pet Sitting

Americans spend more than $34 billion annually on their pets. When it comes to pets, Americans spend freely. This explains why niche industries like pet sitting have grown exponentially. Instead of owners leaving pets in a kennel, pet sitters feed, walk, and provide companionship while the owner is away at work or on vacation. For more information on how to set up a pet sitting or walking business, check out Pet Sitter’s Center.

Conclusion

A large number of opportunities for entrepreneurs to start in the unstable economic period of successful enterprises. Buying the latest focus of this machine, things like mom ‘n pop success of niche stores. You don’t even need a physical store and then sell the physical items on the round the world as the power network.

source article : Wisebread

How to be Great Entrepreneurs

Eric — Tue, 17 Aug 2010 05:35:11 +0000

It is entrepreneurs like to approach a universal monopoly of those days seem to be people who will listen, and on their current hot “ideas” dialogue. The problem is usually the first outbreak to the end of “how much money do you think this is worth?” According to my humble opinion, the ideas is a commodity, and really not worth anything, and plan in visual context outside.

In the past few decades, experts perfected the inspired idea generation techniques and other arts. Directors and investors are now exposed to many ideas. The result is no longer in short supply and the idea is no longer a differentiation in the competition.

Visionary leaders, on the other hand, are not so common. A visionary is someone who can make sense out of the wealth of ideas, and weave together a plan for implementation that will make a difference in the world. Steve Jobs, for example, probably gets millions of ideas from his friends, but he seems able to focus a few of these into initiatives that show real innovation.

What separates an idea person from a visionary leader? Most experts agree that a visionary leader not only has ideas, but also has a vision of where these ideas can lead, with strong core values, key relationships, and demonstrates innovative actions, as follows:

Commitment to core values. Visionary leaders radiate a sense of energy, strong will, and personal integrity. This usually results in a focus on multiple related ideas, leading to real innovation, rather than bouncing from one idea to the next, looking for the “holy grail.”

Positive inspirational communication. People with vision usually start by communicating an inspirational picture of the future, and then integrating individual innovative ideas into this fabric, and show how to get there. The best ones can make the impossible look easy, so everyone, including investors, line up to commit.

Build strong relationships with strong people. Great relationships are key to every leader. They see people as their greatest asset, and listen as well as talk. Theirs is not the autocratic style of leadership, which tells people what to do and dominates them, but a style which treats partners, investors, and customers as family.

Willing to take bold actions. These actions somehow always seem to embody a balance of rational (right brain) and intuitive (left brain) functions. Visionaries are often “outside the box” of conventional approaches and move toward long-term change and innovation. They are proactive and anticipate business change, rather than reactive to events.

Radiate charisma. People with a real vision can communicate ideas with almost a spiritual charisma that energizes people around them to go a step beyond normal boundaries, to solve a technical problem, sign on as a team member, or invest resources, when conventional wisdom would suggest otherwise.

Every investor wants to fund the true visionary leader, but the truth is that these people often don’t need funding, or don’t ask for it. The best investor pitch, then, is to sell the vision with such conviction that people want to be a part of it, with their money, their skills, or whatever they can bring to the table.

But not every entrepreneur must be a visionary. There is still a significant increase in the provision of answers and creative room for improvement to the short-term problem. This really is starting to be guided territory and look for “quick hit” and the quick return of the angel investor community in short sections.

So my message to entrepreneurs is to adjust your approach and your expectations. I was always impressed with how they plan to vote for entrepreneurs to guide ideas, but if you need a million dollars, you better visual.

Credit Line of Small Business

Eric — Tue, 25 May 2010 19:16:17 +0000

You need every advantage you can get when it comes to fixing a line of credit to small business today. All of your plan of action will be monitored in your briefcase, and all of it will become part of decision-making banks.

Apply for a credit line of small business without collateral. If you can not get it, and must put up capital as collateral, do not use your home as collateral if you can avoid it, put up your business assets instead. First, with all upside down residential mortgages and foreclosures, the bank could not be eager to accept. Secondly, it is a tough business environment, and you can not afford to risk your house.

Apply for government economic development programs first. If your application is accepted, you can use this money to support your application for a small business line of credit with the bank by improving your debt to income ratio. And even if you are denied government money, it will not ringing in your credit score.

Include even small angel investments in your financial. Your mom put in $5,000? Include it.

Include any new contracts in your application.

Ask for what you need. It’s easier to get a $500,000 small business line of credit than it is to get an initial $250,000 and go back for more money later. Having to go back hat in hand will give the impression that you don’t know what you’re doing or haven’t managed the first $250,000 well.

Make sure your business plan gives a very detailed description of your business products or services; roughly 40% of applications for small business lines of credit were denied because the bank didn’t understand the business, according to a survey by American Banker.

If your business has a limited track record, make sure your business plan fully reflects the owners, board members and management team’s experience, skills and education.

Other things you can do to increase the chance you will build a small business line of credit are more subjective :

Dress like a banker, even if you’re an artist. You are requesting a business loan, so you must look like a businessman.

If the loan officer will meet you at your place, make sure the location is immaculate inside and out. Tell all the editors to be released off their jobs, dress up and stay busy. A significant part of your budget goes for salaries, if you like over-paying your people, why you think a bank could manage a small business line of credit.

Small Business Loans

Eric — Thu, 06 May 2010 19:10:12 +0000

In a way of life, many people feel as they must start working for themselves. For some people, it is full-time work and support the family of constant exhaustion. Perhaps it is necessary to return to the job market after divorce or spouse’s death. Maybe it is the pursuit of their dreams never regret older.

Unfortunately, it seems necessary to frequently change seems unlikely, too. It is time to investigate small business loans. Small business loans may be in control of your life by you, make the impossible possible and make dreams reality.

Many people are discouraged or are afraid to start their own businesses because they don’t have enough money saved to launch their new endeavors, or they assume they won’t qualify for small business loans because they’re too young, too old. Admittedly, small business loans can be hard to obtain, but there are resources available beyond the community bank.

Small business loans are perfect for starting an in-home, sole proprietor business as a tax preparer or graphic designer – the sort of businesses that require less than $5,000 to begin. Creative types can set up a studio or workshop to realize their dreams of making and marketing their own jewelry or pottery with only a modest investment.

Small business loans can take someone who loves travel, outdoor life, hunting and fishing, and get them out of their frustrating routine of soul-deadening work. There are franchises available for only $6,500 that allow them to arrange trips for other like-minded adventurers, and visiting the locations and lodges themselves is part of the job.

Auditing companies – in high demand – many “green” one of the work of the installation of energy on the small business loans are easy to roughly $35,000.

If you think a large scale, small business loans of $500,000 to $10 million will enable you to buy a franchise restaurants, hotels, hardware stores, or walk-in medical facilities.

Life is short, but there’s still time to take control of yours.

Small Business Funding During Economic Downturn

Eric — Wed, 28 Apr 2010 18:10:26 +0000

What is the upper part to lose your job during an economic downturn? The freedom to start your own business. They might seem counter-intuitive, but half the companies on the Fortune 500 began during a recession or a bear market, according to a study by the Kaufmann Foundation.

When money is tight could be more challenging to open a business accessible for the funding of small business you need for your startup, but it is not impossible.

You always need a thorough business plan to get small business funding, but when money’s tight make you must include contingency plans.

Make sure your business is recession-proof by offering an alternative to similar, more expensive services or products. For instance, the average cost of a wedding has dropped from an all-time high of nearly $30,000 in 2007 to around $17,000. Why not be the wedding consultant who specializes in elegant, scaled-back weddings?

Lenders appreciate that franchisees benefit from training, management support, name recognition and shared marketing, so they might be more likely to approve small business funding for the right franchise business.

Lenders will be more likely to provide small business funding to applicants who have built cost-saving measures into their startup’s business plan. For instance:

If possible, start with an in-home operation. Even if your home needs minor renovations to accommodate your new workspace, that’s less expensive than new construction or a commercial lease.

Consider sharing space with another business if you can’t operate your business from home.

Rent your office furnishings and equipment or buy them used.

Tap into the talents of unemployed friends and relatives to save money.

Once you’ve acquired small business funding, how can you improve your chance of success?

Network through your local chamber of commerce or professional association.

Barter services with other businesses.

Customer service is more important than ever when people are pinching pennies. You need their referrals.

Offer first-time customers discounts or gifts. Give them additional discounts for each referral.

Take advantage of free or low-cost classes through the Small Business Administration, or local community colleges or technical schools.

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Small Business Lending

Eric — Tue, 27 Apr 2010 19:08:02 +0000

Treasury Department of the United States today announced that Main Street is about to get some of the cooking at home appreciated by Wall Street.

Not least $1 billion from the Troubled Asset Recovery Plan will be made available to banks, credit unions and thrifts certified by the Treasury as Community Development Financial Institutions (CDFIs). CDFIs are committed to lending to businesses in rural and urban areas miserable.

During a time when small business lending dropped off precipitously, Obama administration has met with bitter voters and small business control irritated the $700 billion given to some of the biggest Wall Street banks, which alternatively, refused to loosen the purse strings and eliminate wealth.

Earlier this week President Obama asked Congress to make another $30 billion of the remaining TARP bail out money available for small business lending from community banks. Last week, in his State of the Union address, Obama stressed the urgency of creating new jobs to stanch the small business failures contribution to high unemployment levels. Roughly half of American jobs are in small businesses.

Congress is not required to approve the money to CDIFs, but because the small business lending plan is an altogether new program, Congress must approve it. Congressional members, however, are already giving the lending plan a stiff arm.

“The law is very clear. The monies recouped from the TARP shall be paid into the general fund of the Treasury for the reduction of the public debt,” Sen. Judd Gregg, R-N.H., said in a Senate Budget Committee hearing Tuesday. “It’s not for a piggy bank because you’re concerned about lending to small businesses.

Last month, the 22 banks that received TARP bail out money announced they were cutting another $1 billion from small business lending for the tenth straight month.

Startup Business Loans

Eric — Tue, 27 Apr 2010 19:00:46 +0000

New entrepreneurs seeking startup business loans knows that it was almost impossible to get the credit since the fall of 2008, when Lehman Brothers crashed and burned. There are, however, signs that things are getting better, and several things prospective borrowers can do to improve their chances of obtaining startup business loans.

The Small Business Administration (SBA) processed 12,393 loans in the final quarter of 2009, a total of $3.8 billion; that’s a 200% increase over the number of loans processed in the same period of 2008. While the SBA only guarantees loans, the increase means lenders are again willing to make loans, including startup business loans.

That’s the good news; the bad news is that the final quarter numbers from 2009 are still only 60% of the numbers from the same period in 2007. In other words, things are better, but still very competitive, and acquiring startup business loans is going to be a lot of work and require a lot of investment.

First off, banks will turn a cold shoulder to applications for small business startups if the owners haven’t already invested everything they have: personal real estate, savings, life insurance and credit cards.
Scrape together money wherever possible. Young entrepreneurs have opportunities to participate in student competitions with cash prizes. Award winners impress bankers who would rather make startup business loans to winners.
It might be painful to take on partners, but doing so brings more assets and talents to the table, while reducing risk. And remember, banks want to see a lot personal asset investment before they’ll commit to startup business loans.
Business plans have to be magnificent and accompanied by polished and professional presentations and personal pleas.
Start small, startup business loans aren’t awarded to businesses without track records. Wait until the revenues have accumulated to show stability and promise.

Personal Loans, Do You Know It?

Eric — Sun, 25 Apr 2010 04:34:45 +0000

Sometimes the borrowing is a natural thing at a time when we want to achieve something we want. Referred to as the loan is a type of debt that can involve all types of tangible objects, although usually more often identified with monetary loans. Like other debt instruments, a loan requires the redistribution of financial assets over time between the borrower (outstanding) and the debtor (debt providers). The borrower initially receives an amount of money from the providers of debt will be repaid, often in the form of periodic installments, payable to the giver.

These services are usually provided for a fee which is called as interest on debt. The borrower can also obtain the limits provided in the form of the loan terms. Currently there are numerous types of loan types, such as Small Business Loan, Personal Loan, and Payday Loan.

Small business loan is a type of loan used to run a small business. Personal loan is a type of loan used for private or personal interests. Payday loan is a type of loan that can be used to cover the needs of the moment we still have to wait for our salary we receive will be one or two weeks.

Great Savings With Used Office Equipment

Eric — Sun, 11 Apr 2010 10:43:00 +0000

Do you manage a typical office-based services, janitorial work or a custom manufacturer, to purchase and maintain equipment, rising costs in 2010 will directly affect your. When rules effective way to cut costs to maintain and inventory of your existing services, care for the pieces ultimately will need to be careful even replaced.

This is when the experts of our quick guide to the use of the know to buy, how to find, and how it can benefit your bottom line for the next few years.

Use the Recession to Your Advantage
An unfortunate casualty of the recession — small business failures – can work in your favor, when looking for high quality, use office, retail and manufacturing equipment time. Auction, the seller is not good for the traditional experience, which can be viewed as a viable option for small businesses to use. Ed Castagna, president of Nassau Asset Management, noted that low would require more discernment, as a purchase decision. “Buyers will need to be careful to note the condition of the item up for bid. Some auctions will require the vendor to upgrade the equipment as a “make ready” requirement for the event, which can also increase the price.”

Those who aren’t finding success on the auction block may discover Craigslist to be a rewarding alternative. Within each local “For Sale” category resides a section just for used business wares, which can include anything from goose neck trailers to angel food cake pans to commercial freezers for a fraction of new retail cost. Adam Kruse, of the St. Louis Hermann London Group, shares a recent experience where someone else misfortune became his small business gain.

Mr. Kruse found a Craigslist ad for a liquidation company reselling the contents of a Holiday Inn hotel, and he immediately took advantage. “They had hundreds of high quality matching wood desks almost exactly like the ones I found at Target, and they were 15 dollar each.” By purchasing 25 of these units, he spent less in total than he would have for just five of a similar product at retail.

What Should You Buy Used?
Whether you go the private route, or prefer to do business with a more established company dealing specifically with used business assets, there are some basic tips that can help you determine what makes a good deal:

Most business owners agree that furniture (restaurant, office, hotel, etc.) is almost always appropriate to buy used. The savings is usually significant, and even the most outdated looking pieces can be given a facelift or used in a “vintage” setting for a unique fashion statement. Savings may vary, but it’s not unusual to realize savings of 50%–75% over retail.
Electronics purchases seem to have our experts split. While many will risk cash on used PCs, monitors, or printers, others need the assurance that only a new product warranty can provide. If in doubt, consider the overall value of the warranty options, remaining useful life, and technologies against the cost of the equipment. If the math doesn’t add up, skip the second-hand option. If used is the only choice for your budget, try to buy through a dealer with a warranty and service contract — and don’t be afraid to ask for extras like regular cleanings or upgrades.
Heavy duty or manufacturing equipment will vary by industry, but one thing is for certain: Just like cars, used equipment will need repairs. Factor in the cost for a good service agreement or provide an ample budget for upkeep, as needed. If you can’t afford to put that kind of cash aside, consider financing on a new model with a generous service plan.

Use What You Have, Only When You Have To
Despite the growing market for used equipment, many businesses continue to outsource large tasks that require specialty units. Even bulky print jobs may be more economical at your local Kinko’s and can save you the headache of a last-minute breakdown or performance issue. When it’s all said and done, putting hours on your own equipment should only be done when it’s cost-effective. The storage, liability, and maintenance of any used purchase must make absolute financial sense for your business.

Tax Benefits for All
When buying a new arrival of half-time tax benefit will not be as significant when, as if you bought new, it is still considered to be taken seriously. Purchase, you really need to replace the item may be justified before the tax year in a very good end.

Foreseen in the 6 months after the replacement of a project and would like to immediately realize the small business deduction at the end of that year a good deal might want to strike immediately. Speak to your accountant to see the depreciation of the equipment in use will be any good if your affairs. (Some companies set aside for the project and the value of depreciation of $ 500 and under circumstances to deal with these.)

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Choose an Accountant for Your Small Business

Eric — Sun, 11 Apr 2010 07:50:29 +0000

Small business owners often overlook the importance of their side have a good accountant. Accountant doesn’t role must be restricted tax preparation. He can be a valuable consultant to your business year round. Here are some tips to choose an accountant should be involved in for your small business.

Taxes
This is your accountant should return to that area of expertise. Get a lot of small business accounting customers – even improve your industry, many small business customers. There is a ton of tax laws and codes, and more than you have in your specific accounting industry experience, the better he can help you optimize your tax planning.

He can advise you to keep your general practice and the latest in the new development. When you grow, he should also monitor the growth of your business and can advise you choose. For example, he may recommend that you change your business structure (from the LLC to C-Corp), if it looks like you can see a major based on your income tax savings. You should also tell your accountant, or start on your big purchase before the lease agreement to see what options are best for your position from the tax.

Money Management
Beyond tax considerations, your accountant should be able to advise you on all aspects of your financial planning and management. He can be a sounding board when you are considering an investment for your business. He can guide you through financial hurdles. Whether you have a problem with cash flow, credit, or collecting money due, your accountant should be the first person you call before taking any action. In addition to your business finances, you can go to your accountant for personal finance advice. Because he knows your business so well, he can make good recommendations on how you should save or invest your own money.

Employment Laws
From labor laws to benefits, your accountant can help you navigate through all the rules and regulations required of employers. Once you have employees, you’ll need to find out about workers comp insurance, health and retirement benefits, and payroll taxes. If you’re not ready to have a full fledged Human Resources department, your accountant can fill in. It can get complicated, and it’ll be wise to have an accountant ready to guide you, especially as your business grows. For example, some employment laws only apply after you have a certain number of employees. It’s important that someone is on top of the various phases of your business, and sometimes it’s just nice if it doesn’t have to be you.

Numbers Analysis
Numbers are a second language to accountants. You don’t have to be good with numbers if you have an accountant. He can look at your sales figures and determine profitability. He can verify that your debt vs. equity ratio is appropriate. He can be a resource to help you compare your benchmarks within the industry. He can provide profit forecasts, cash flow projections, perform annual audits. These reports can help you greatly in monitoring and optimizing business performance and growth.

Business Financing
If you are looking for capital, a good accountant is priceless. He can help you assess the various options available for corporate finance. He can read your financial accounts and the right to tell your lender what your looking for. He can question you for you’ll preparation need to answer and the article you’ll need to prepare. In addition, it’s may be he’ll have access to will give you the best available financial resources and an edge contact.

When tax season rolling, you may want to think more with your accountant to establish a relationship, or choose a specialist who can provide advice for your small business.