HTC Titan Orders Ready To Start Shipping?

You are in a Windows Phone Post

Has HTC managed to intrigue you with the extra-large screen and Windows Phone 7.5 Mango of its upcoming Titan smartphone? If you've been eagerly awaiting the handset's arrival, the opportunity to snag one may have just presented itself, with third-party retail sales of the Titan apparently starting, and the phone all ready to ship out to customers.

Electronics retailer MyTrendyPhone is currently listing the HTC Titan as "in stock ? ready to ship". The last information we heard about the phone's European launch had it arriving October 4. We were expecting that the Titan would fetch a princely sum of about $850, and that's quite within reach of what we're looking at here, with MyTrendyPhone selling the Titan for just under the equivalent of $870.

Before you go grabbing your credit card, don't forget that the Titan's radio is set up for operation on the 850/900/2100 MHz bands for Europe and Asia; North American customers would be better-off waiting for the phone to be released with a proper, native radio. For that, though, you'll just have to be patient for now. In the meantime, check out some video clips of the Titan in action.

Source: MyTrendyPhone
Via: WPCentral

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NFC-Equipped BlackBerrys To Start Opening HID Keycard Locks

NFC may finally be starting to get the hardware support it needs to start becoming an important smartphone feature, but what can you really do with it? Some users may be unimpressed with the tap-to-share file transfer abilities (can't I just email someone files?) or the NFC payments (my credit card already has tap-to-pay) we usually point to when discussing the technology's uses. Now there's a new one coming to BlackBerry phones, and maybe it has what it takes to win NFC over some new fans.

Starting next year, BlackBerry phones with NFC will be able to communicate with HID-made wireless entry systems. HID manufactures many of the readers used for prox-card-based door security, and soon BlackBerry handsets will be compatible with its iCLASS-type systems.

Now, if your office uses a combo ID card/keycard, this innovation won't really give you much direct benefit. For business that distribute keycards separately, especially ones that already have a sizable population of employees using late-model BlackBerrys, it sounds like this could be a real boon. Of course, there's the problem of what to do when you're locked out and your phone is dead, but we'll let RIM and HID worry about that one.

Source: HID
Via: BlackBerry Review

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AT&T, T-Mobile, and DOJ to Start Talking Settlement

You are in a Smartphone News Post

AT&T was all set to swallow-up T-Mobile, becoming even more of a carrier heavyweight, and most importantly to smartphone users, get its hands on T-Mobile's spectrum holdings, ready to be re-tasked for 4G LTE data. Even with some very public complaints from Sprint, it looked at first like the FCC might give the proposed deal the go-ahead. That forecast took a 180 at the end of August when the US Department of Justice stepped in and followed suit to block the sale on antitrust grounds. As that smoke clears, we're left wondering "what's next?" in this wireless network saga.

The judge presiding over the case made an order earlier this week that starts to give us a timetable of when we might begin to see all parties involved come to some sort of resolution. The DOJ, T-Mobile, and AT&T are to be ready by September 21 to talk settlement. If AT&T doesn't want to try its luck in court, it may consider agreeing to sell off a good portion of T-Mobile's assets, in order to appease these antitrust concerns. Even if it does want to go down that road, it would likely still be some time before all details can be agreed upon; getting this dialogue going is still a start, at least.

Source: New York Times
Via: Mobile Burn

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How to Start an Office Support Service

Office support services can range from basic data entry to a fully-staffed office handling all the details of a client's business.

An office support service company can start very small, offering only a limited selection of services and expanding as you gain the capacity to do so. This modular approach makes office support services very attractive for the talented entrepreneur with limited capital and the motivation to learn and grow over time.

Start Up Costs and Financing Sources:

$500 to $100,000+ depending on services offered

With a strong and well-researched business plan, venture capitalists and angel investors may help with part of the initial financing. Do not depend on this, however, as your source of financing.

Pricing Guidelines for Service:

Set your prices to allow for at least $20-40 per hour (before taxes and expenses), but avoid charging hourly rates. Charging an hourly rate for office support services gives clients the opportunity to demand more and more work for the same price. Before long, it will begin to feel like you are trapped in the very same employment situation which you were trying to avoid by starting a business in the first place! So with that in mind, try your best to set a flat fee (based on volume) for each office support service you provide.

As you become more skilled with specific office support services, you can charge less to a client while actually earning more per hour.

Advertising and Marketing:

Many help wanted advertisements detail office support services which are very suited to your company. Respond to these with a brochure of the services you provide, as well as the benefits of contracting with a service provider instead of hiring an employee.

Temporary staffing companies get many requests for office support services. Sometimes they do not have enough qualified applicants to fill the positions. Rather than telling their clients that they have failed to fill the position, they might be willing to connect you with the client company.

Work with other office support service providers in your area. Identify which services each provider excels at and cooperate to refer those types of jobs to each other. This valuable type of exchange will keep you and your "competitors" working on the projects which profit everyone the most.

Get at least one ad listed in the yellow pages phone directory. Better yet, get listed under the heading for every specific service you offer.

Essential Equipment:

A decent computer with a comprehensive suite of office software is necessary in any office.

At least one telephone line will be necessary. Two telephone lines and a dedicated fax line would be even better.

A three-in-one printer/copier/fax machine can save precious desk space; however, if you do a significant amount of one of those three tasks, it is a good idea to get a dedicated machine for it.

You will need an adequate amount of general office supplies such as printer paper, paperclips, staples, pens, pencils, Post-It notes, mailing labels, etc.

Filing cabinets and similar paperwork storage space will help to keep your work area organized.

Income Potential:

$15,000 to $100,000+

Your income is really only limited by the amount of work you can do in a day. This is definitely a choice business for someone who is good at streamlining and automating their daily tasks. After you have an efficient system in place, you can begin to hire employees to take care of the menial things which can't be automated, greatly expanding your earning capability.

Target Market:

Small businesses which are growing rapidly and have an excess of paperwork to handle.

Staffing agencies which specialize in office support services and have trouble finding qualified applicants for a project.

Tips for Success:

Develop a strong eye for detail. 99.9% accuracy might sound excellent, but that one-in-a-thousand error could cost your clients big money and cost you your contract.

Automate! Identify the areas where you are spending most of your time and determine if it is possible to automate parts of the tasks and save time. Research software which could do some of the dirty work for you. For example, certain data entry projects can be done by an image scanner and optical character recognition (OCR) software, leaving you with just the job of auditing the final data for accuracy.

Training, Skills or Experience Needed:

It is useful to have a background in accounting, business management, etc. Working as an employee for a year or two in an office support services environment is enough to develop the basic skills you will need.

Typing is a big part of the business. Hone your typing skills to at least 70 words per minute with 100% accuracy.

Stay organized. When you need to find paperwork or supplies, they should be right where you expect them to be.

© Copyright Randy Wilson, All Rights Reserved.

Randy currently has a website dealing with Reviews of Coffee Related Products such as coffee makers, espresso makers, coffee, k-cups, and more plus articles on coffee enemas and other coffee and health related topics. He also has a website of Reviews of Small Appliances [http://www.smallappliancebuyerguides.com/] such as ice cream makers, vacuum cleaners, mixers, irons, toasters, food processors, and many other appliances.

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How To Start Your Own Cleaning Service Business (Office Cleaning & House Cleaning)

House and apartment cleaning services are gaining in popularity. The main reason for this is due to families that have 2 working adults/parents in the home. The overworked family has no time for cleaning their home. Their need to supplement the family income creates the opportunity for you to set up a lucrative business.

Ten years ago, businesses of this kind were serving only the affluent - homes of the wealthy people where people didn't want to be bothered with the drudgery of house cleaning, and had the money to pay someone to do it for them. But times have changed, and today the market includes many middle-income families in every residential area across the entire country. The potential market among apartment dwellers is great also. All in all this is a business that has grown fast, and has as much real wealth building potential as any we can think of.

Cleaning services are generally associated with women owners, however, men are finding that they can organize, start, and operate very profitable home and apartment cleaning businesses just as well as women. It's an ideal business for any truly ambitious person wanting a business of his or her own, especially for those who must begin with limited funds. Actually, you can start this business right in your own neighborhood, using your own equipment, and many items you already own.

Many enterprising homemakers are already doing this kind of work on a small scale as an extra income-producing endeavor. There's a growing need for this service. Organizing your efforts into a business producing $40,000 or more a year is quite possible, and you can get started for $100 or so, always using your profits to expand and increase your business.

In most cases, no experience is required. Everyone knows how to dust the furniture, vacuum carpets, make the beds and carry out the trash. But you must ask yourself if making a house clean and bright is important and uplifting work. If you look on it as degrading or as drudgery, don't involve yourself in this business.

Pricing your services will always be a constant challenge for you. You will learn as you go. The pricing really depends on you, the services you provide and how thorough you are. To start off, your best bet is to figure out what you need to make ends meet per week. Then, divide that number by amount of hours you want to work per week. Then be sure to add any expenses you will incur by working that many hours (ie. Daycare, Gas, Cleaning Supplies, Insurance, Equipment Repairs, Etc.) Also count on a little downtime for traveling between jobs, sick days, auto breakdowns, etc.

As a general rule, you shouldn't charge less than $12.00 - $15.00 (USD) per hour, per person on a job (depending on where in the world you are located. Most cleaning companies will charge $20-$30 (USD) per hour, per person. This is just a guide, and some parts of the US or other countries may be much different.

Here is an example:

A 2-Bathroom, 3-Bedroom house with a Living Room, Kitchen, Dining Room, Hallways, Stairs and a family room, will approx. take 4 labor hours as long as there is not a lot of clutter (always be sure to notice the amount of clutter and how dirty/dusty the home is when doing an estimate and take that under consideration). Labor hours means the amount of time it will take multiplied by the number of people cleaning. For example... A 4 hour labor job breaks down like this:1 person-4 hours, 2 people-2 hours, 3 people-1.33 hours, etc.). I personally wouldn't recommend charging less than $15.00 /hr. Charging $15.00/hr would bring this job to $60.00 Per visit. Charging $20.00/hr would bring this job to $80.00

You want to be sure you charge enough to provide a quality service. If a prospective customer is trying to lower your rates, they are not worth having. It's ok to be higher than another company as you should never try to gain new customers by just offering the lowest price. Always sell the quality of your work rather than the price!

Customers will expect to pay more for cleaning services that offer a quality service and bring their own supplies and equipment. Make sure if you are using your own equipment, you put a lot of effort into finding the right products. Customers like name brand products being used in their homes and offices.

Customers will also expect to pay more if your company is insured. Insurance is well worth the investment to protect yourself and your company in the event something gets lost, broken, or damaged. It is also a wonderful selling tool.

Remember... Sell quality, not cost!

TIP::::: You should consider providing services in schedule friendly timing:

- Weekly is every week

- Bi-weekly is every 2 weeks

- Monthly is every 4 weeks (not the same as coming the 1st of every month)

As far as supplies and equipment is concerned, you should consider obtaining the following:

- Vacuum Cleaner with attachments, or 2 different vacuums

- Paper towels

- Terrycloth rags

- Furniture polish

- Glass cleaner

- Multi-purpose cleaner

- Bath tub/Shower cleaner

- Toilet Bowl Cleaner

- Abrasive cleanser (like comet)

- Sponges (consider using sponges with an abrasive side and a soft side)

- Feather Duster

- Caddy (to carry it all)

- And anything else you may need to perform the services that you offer

You also need an advertising campaign of some sort. Most people start out using the classified ads and the Internet. A listing on the Cleaning Service Directory (www.house-cleaning-services.com) is very inexpensive and can help you get leads quickly.

Another point to make is that customers are willing to pay a premium for cleaning services that are well established and well known. Be sure to advertise in your local newspaper and direct customers to your Web site. A Web site is a great place for potential customers to read more about your company, see your credentials, look at testimonials from your other customers and explore the other services that you may offer. A Web site also provides one of the most cost-effective forms of advertising that works 24/7! Getting your name out there will provide name recognition, and install confidence that you are a legitimate company that people can trust. To find out more about getting your company online, visit http://www.modernconcepts.org

You might also want to consider creating a flyer, such as the following:

HOUSE CLEANING / APARTMENT CLEANING

We do the work - You relax and take it easy.

You get the best job in town, at rates you can afford.

Your satisfaction is always guaranteed!

For more details,

Call Jane Doe: 123-4567 - ABC Cleaning Services!

Here's an idea for making a flyer....

Visit your stationery store to pick up a pad of "fade out" graph paper, a couple of sets of transfer (rub-on) letters, a glue stick, and if they have one, a Clip Art book.

Take these materials home and clear off your kitchen table. Take a sheet of graph paper, and temporarily tape the corners down on the table. Then take a pencil and a ruler, and mark a rectangle five inches wide by six inches long along the lines of the graph paper. This will be the overall size of your flyer when it's finished.

Look for a Clip Art piece depicting a harried housewife engrossed with either cleaning tools or in the act of running a vacuum cleaner, or some other household chore. Cut this piece out, and with your glue stick paste it in the upper left-hand corner of your rectangle. Then take your transfer letters and make the headline: HOME OR CLEANING. Next, type out the body of the message on ordinary white typing paper. Be sure to use a relatively new ribbon, preferably a black carbon ribbon, and upper case letters. Cut this strip out, and paste it onto the graph paper, centered just below your headline. Then use some transfer letters that are about twice as large as your typewriter type, and paste up the action part of your message: For details, call Sue: 123-4567. Cut out a couple of border flourishes from your Clip Art book, paste them under your action line, and you're ready to take it to the printer.

In essence, you have a professional advertising "billboard." You can check around in your area, especially with the advertising classes at your local colleges, but generally they'll do no better than you can do on your own, using the instructions we've just given you, and they'll charge you $50 to $100.

Once you have this advertising flyer completed, take it to a nearby quick print shop and have about 200 copies printed. You should be able to get two copies on a standard 8 1/2 x 11 sheet, and running 100 sheets of paper through the press should cost under $10. For just a few cents more, have the printer cut them in half with his machine cutter, so you will have 200 copies of the advertising flyer.

Now take these flyers, along with a box of thumbtacks, and put them up on all the free bulletin boards you can find - grocery stores, Laundromats, beauty salons, office building lounges, cafeterias, post offices, and wherever else such announcements are allowed.

Handling the customers...

When a prospective customer calls, have your appointment book and a pencil handy. Be friendly and enthusiastic. Explain what you do - everything from changing the beds to vacuuming, dusting and polishing the furniture and cleaning the bathroom to the

dishes and the laundry. Or, everything except the dishes and the laundry - whatever you have decided on as your policy. When they ask how much you charge, simply tell them, you'll need to see the home and make a detailed estimate for them. Then without much of a pause, ask if 4:30 this afternoon would be convenient for them, or if 5:30 would be better. You must pointedly ask if you can come to make your cost proposal at a certain time, or the decision may be put off, and you may come up with a "no sale."

Just as soon as you have an agreement on the time to make you cost proposal and marked it in your appointment book, ask for name, address and telephone number.

Jot this information down on a 3 by 5 card, along with the date and the notation: Prospective Customer. Then you file this card in a permanent card file. Save these cards, because there are literally hundreds of ways to turn this prospect file into real cash, once you've accumulated a sizeable number of names, addresses and phone numbers.

When you go to see your prospect in person, always be on time. A couple of minutes early won't hurt you, but a few minutes late will definitely be detrimental to your closing the sale. Always be well groomed. Dress as a successful business owner. Be confident and sure of yourself; be knowledgeable about what you can do as well as understanding of the prospect's needs and wants. Do not smoke, even if invited by the prospect, and never accept a drink - even coffee - until after you have a signed contract in your briefcase.

Once you've made the sale, the best thing is to shake hands with your new customer, thank him or her, and leave. A little small talk after the sale is appropriate, but becoming too friendly is not. You create an impression, and preserve it, by maintaining a business-like relation ship.

When you go to make your cost estimate, take along a ruled tablet such as those used by elementary school students, carbon paper, a calculator and your appointment book. Some people find it easier to work with a clipboard and ordinary blank paper with

carbon. Later on, you may want to have general checklists printed up for each room in the house, with blank lines or space for special instructions.

Whatever you use, it's important to appear methodical, thorough and professional, while leading the prospect through the specifics he or she wants you to take care of: "Now, you want the carpet vacuumed and all the furniture dusted and those two end tables, the coffee table and the piano polished as well, I assume?"

Simply identify the specific room at the top of the sheet of paper, then lead your prospect through the cleaning steps of each room, covering everything in it. Your implications of putting everything in "ready for company" shape will cause the customer to

forget about the cost, and hire you to do a complete job. Always have a carbon paper under each piece of paper you're writing on, and always look around each room one more time before leaving it; then ask the prospect if he or she can think of any special instructions you should note for that room.

Finally, when you've gone through each room in the house with the prospect, come back to the kitchen and sit down at the table. Take out your calculator and add up the time you estimate each job in each room will take to complete. Total the time for each room.

Be liberal, thinking that if you can do the carpet job in 15 minutes, it will usually take the ordinary person 30 minutes. Convert the total minutes for each room into hours and tenths of hours per room. Add the totals for each room to arrive at your total hours to clean the entire house.

Talk with your customer briefly, wondering how she can ever find the time to get everything done at home, especially when holding down a full-time job. A little bit of small talk, a quick mental evaluation of the customer's ability to pay, plus your knowledge that you can get everything done in four hours, instead of the six hours it would take most people.

Here is an example of a typical conversation between you and the prospective client:

"Well, Mrs. Johnson, you've certainly got enough routine cleaning work to keep you busy all day every day of the week! I certainly don't know how you do it, but any way, we'll take this whole problem off your shoulders, save you time, and actually give you time to relax. We charge $100 for monthly visits, or $80.00 for bi-weekly visits.

"I can well imagine how tired you are when you get home from work. If you're at all like me there are times when, faced with all this housework, you want to run away someplace and hide. Now, we'll take care of everything for you - keep the house spic and

span, ready for company, allow you to forget about housecleaning chores, and for a lot less than it's costing you now in time, work, and worry. And we guarantee that our work will more than satisfy you. So, would you like to try our cleaning service one time for $75 or do you want to save $15 a call and let us take over all these chores for you on a regular basis?"

Here you begin finding a place in your appointment book, and tell her: "Actually, I have an opening at 8:30 on Tuesday morning. We could come in every other Tuesday at 8:30, clean the whole house and have it done before you get home from work."

The customer agrees that 8:30 on Tuesdays will be fine. Then you ask her if she prefers to be billed with the completion of each house cleaning session or on a regular monthly basis. Point out to her that by engaging you on a monthly basis , she picks up

a free house cleaning every three months.

Now that you have your first customer, you want to fill in every day of the week, each week of every month with regular jobs. Once you have one week of each month filled with regular jobs, it will be time for you to expand.

Expansion means growth, involving people working for you, more jobs to sell, and greater profits. Don't let it frighten you, for you have gained experience by starting gradually. After all - your aim in starting a business of your own was to make money, wasn't it? And expanding means more helpers so you don't have to work yourself to death!

You can operate this business quite successfully from the comfort of your home, permanently, if you choose to. All you'll ever need is a telephone, a desk, and a file cabinet.

So, just as soon as you possibly can, recruit and hire other people to do the work for you. The first people you hire should be people to handle the cleaning work. The best plan is to hire people to work in teams of two or three - two for jobs not including dishwashing and laundry - three for those that do.

You can start these people at minimum wage or a bit above, and train them to complete every job assignment in two hours or less. Just as soon as you've hired and trained a couple of people as a cleaning team, you should outfit them in a kind of uniform with your company name on the back of their blouses or shirts. A good idea also would be to have magnetic signs made for your company and services. Place these signs on the sides of the cars your people use for transportation to each job, and later on, the sides

of your company van or pick-up trucks.

Each team should have an appointed team leader responsible for the quality and over all completeness of each job assigned to that team. The team might operate thus: One person cleans the bathrooms and kitchen, while the other person dusts and polishes the furniture and does the vacuuming. On jobs where you do the laundry and the dishes, the third person can pick up the laundry and get that started, and then do the dishes and clean the kitchen. By operating in this manner, your work will be more efficient and the complete job will take a lot less time. However, it is important that each person you hire understand that the success of the business depends on the "crew" doing as many complete jobs as they can handle each day - not on how much they get paid per hour working for you.

Your team leaders will check with you each afternoon for the next day's work assignments and gather the team together, complete with cleaning equipment and material, on the next day. Your team leader should be supplied with a stack of "hand-out" advertising flyers to pass around the neighborhood or within the apartment building before leaving each job site. A good supply of business cards wouldn't be a bad idea for them either, in order to advertise your services to others they come in contact with. The

only other form of advertising you should go with would be a display ad in the yellow pages of your telephone directory.

Design on paper a system of clean-up operation that can generally be applied to any situation, then drill your teams on speeding up their activities to make the system work even better. Just as firemen practice and practice, you should drill your people as a team in their cleaning activities.

Probably the biggest time-wasters in this business will be in the travel from job to job. For this reason, it's important to spread advertising circulars to the neighboring homes when you're doing a job, or to the apartments on the same floor when you're in an apartment building. As the organizer, and person assigning teams to jobs, it will behoove you to locate, line up, and assign jobs as close together as possible. Keep up efforts to cut the time it takes for your crews to travel from one job to the next. Work at lining up jobs all in one block, or in one apartment building.

One of the most important aspects of this business is asking for, and allowing your customers to refer other prospects to you. All of this happens, of course, as a result of your giving fast, dependable service. You might even set up a promotional notice on the back of your business card (to be left as each job is completed) offering five dollars off their next cleaning bill when they refer you to a new prospect.

Good luck!!

** Please note: You are responsible for running and maintaining your business correctly. The information provided here is for informational purposes only. We accept no responsibility for the information contained in this document. For this reason, be sure to use your best judgment and be responsible for your own actions.

http://www.house-cleaning-services.com

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Kick Start Your Business With a Professional Answering Service

Professional answering services are a great resource for companies that are either starting from scratch or expanding into new territory. Outsourcing to a professional telecommunications and contact support service ensures that your company's customer service is second to none. Contracting with a great answering service satisfies customers and boosts your ratings. Conversely, contracting with a poor choice could be a catalyst initiating disaster.

So how can a company tell that their answering service is the right one for them? There are many traits of an excellent support provider that a company can watch out for. An answering service, one that values customer service and treats a client's business matters professionally, is a company that has these following features:

Extensive, up-to-date training. Great contact centers don't let a live operator near a phone without extensive, up-to-date training. Superior vendors know that not only should a live operator get over 40 hours of training, they should also constantly have updates to that training, ensuring that the live operators always provide efficient, professional service. These answering services also update training each time a company contracts with them, making sure each company gets service that suits them.

Tailored services. Each company is different with what they value and what they desire as far as services. The finest answering services are able to find out exactly which services a company needs and deliver, whether they require specific scripts, certain hours of operation, or a particular type of accent or voice. The best providers will keep tweaking the services until the client is 100% satisfied.

More than typical service options. Choice answering services will not only have the customary call answering and forwarding services, but will also have seen the need for more varied and niche services. Premium answering services will offer services like order-taking, voice-mail and message alerts, and faxing services.

Choosing a professional service helps companies forge a path to success, allowing customers to see them in a pleasant light. Professional answering services rise above the industry standard to ensure that companies get a consistent level of satisfaction and excellence.

Robert Porter is the President and CEO of 1-800 We Answer Answering Service, a full service telecommunications company providing a complete range of answering service, call center, voice mail, fax, mail receiving, ordertaking, telemarketing and phone system services to businesses and individuals.

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Business Start Ups...Let's Play Ball

Starting a business is like starting your own baseball team. Start-up (Spring training) is when you are doing your research, deciding on a business name, zoning requirements, setting up your business, deciding on what form your business will take (sole proprietorship, corporation, LLC). You're assembling all the parts of your business (team), getting ready for the season (your opening day).

Once spring training is over, and the season begins (your business is open) you start making your run around the bases. Getting to first base is the hardest (obtaining your first customer, making your first sale, doing your first consultation).  You are helped along to second base by the support staff (players) you assembled. Moving around the bases constitutes all the steps, hurdles, obstacles, however you want to think of daily business grind. This is part of running a business ( and what the game of baseball is all about). Having game plans to deal with certain contingencies.

Being aware of what your staff is capable of. Some of your staff will be single hit players.  Others will hit doubles.  Some will hit or make the triple play, while others will hit home runs. Your employees (players) look to you, the business owner, (their coach), and learn from you. They will look to you for direction (signals), on how they should respond (play the game).

The season (your first year in business) gives you the opportunity to assess your staff (your team) to ascertain where they work best. Do you need to make changes (change the line-up). Obviously, some will perform better than others. It's up to you, as the leader (coach) to decide who belongs in what position, where their strong points are, where their weaknesses are, and how to utilize them to the best of their abilities. Be sure to set up staff (team) meetings.

How successful your team is (your business) will be determined by the end of the season. Are you just one of many new businesses in your area, or will you make the playoffs (distinguish your business, find your niche, make a name for yourself in your area).

Making the playoffs and/or winning the championship means your business has made it. You paid your dues.  You're in it for the long run. You're part of the business community (recognized by the other teams).

Now you're ready to play every season. You use spring training of each year to feel out the other teams (find out what your business competition is doing) and make any adjustments you need to keep your business (team) in the thick of things for the coming year.

If you listen real carefully you'll hear......"Let's play ball!"

Copyright 2002 DeFiore Enterprises

Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 19 years, and we can help you too! To see how, visit http://www.homebusinesssolutions.com for the latest FREE tips and tricks, educational products and coaching in creative real estate investing and home based businesses. No time to visit the site? Subscribe to our "how to" Home Business Solutions Digest, it's like having your own personal coach: mailto:subscribeHBS@homebusinesssolutions.com

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What You Need to Start a Business

Starting a Business

When starting a new business, there are many important decisions to make and many rules and procedures that must be addressed. While there is no single source for every state, the following checklist and steps have been developed to assist you in starting your business.

Choose and Register A Business Name For some people business names come easily, for others finding the right one is a major challenge. I have listed the basic steps to follow in naming a business. There are multiple "rules-of-thumbs" that tend to be contradictory. Some insist that a business name should be descriptive of the business and others suggest that being unique in the best way to be remembered.

Keep in mind that your business name is an important part of your marketing effort. It is a major component of how customers; perceive your business. Your business image is based on this perception. So, it is critical that it reflect the image that you want your customers to have of your business.

My tendency is to go with what your inner voice (gut) says is right for you. You are the one who has to live with this business day and night for a long time to come. So choose something you feel good about. One test might be to think about the name being splashed across a major headline. How does it feel to see the name in print representing your business? If it feels good, go with it.

If all else fails, there are businesses available that will help you determine the right name. If you go this route, look for a good fit for you. You want this to reflect your concept, not someone else's. Keep in mind this is one of the most important decisions you will make about your business.

As part of naming your business, you may also want to design a logo for your business. If creativity is not your strong suit, there are many businesses out there that can help you. While this may seem excessive, you will never regret the time you have spent on this part of setting up your business. This is the first and most critical part of marketing your business. Do it right and your future marketing will be much easier to plan and implement.

Legal Issues. Picking a name for your business requires much more than just creativity and a working knowledge of your target market. First you will need to decide which business structure you will use, since each structure has its own peculiarities.

Of equal importance, is finding out whether your name or a very similar name is being used by another business, and if so, what rights they may or may not have to use the name in the area where you want to do business. Keep in mind that some businesses only file trademarks within their locality, so it is possible that the same name can be used elsewhere.

Search and Registration. Trade names can be registered through the state Secretary of States offices, and for wider marketplace protection, through the US Patent and Trademark office. Businesses should first use the USPTO's online system to search all state and federal trademark registers to see if the proposed name is being used.

Domain Names. For many businesses that operate on the Web, trade names are synonymous with domain names. There are many online services available to check if your proposed Domain name is available.

Select a Name and Legal Structure

Sole proprietorship
Partnership
Limited liability corporation
Corporation

Sole Proprietorship in general can be established with little or no formalities. However, it will generally be necessary to obtain one or more local business licenses from the cities and or counties in which you will operate, and in some cases, you might need a state license as well. If you make sales of tangible property at a retail level, you will be required to obtain a sales tax license for the collecting of sales tax.

No separate tax-form filing is required. You simply report that your business financial information on standard tax forms is available for sole proprietorship. Doing business as a sole proprietor is much simpler than operating as any other kind of business legal entity. If you have no employees, you are not required to pay or withhold any employment taxes, withhold any federal or state income tax from wages, or obtain workers' compensation coverage for yourself.

Partnerships allow the creation of either a general partnership in which all partners are liable for the debts of the business, or a limited partnership, in which only the general partners are liable for debts. It is generally necessary to obtain one or more local business licenses from the cities, counties, and possibly the state in which you will operate.

Partnerships, as entities, are not subject to state income tax. Instead, the income or loss of the partnership, as allocated among the partners, must be reported on the personal income tax returns of each individual partner. However, there might be some local or state annual fees or tax required.

A partnership agreement, for any type of partnership, should spell out in considerable detail all aspects of the partnership. It is recommended that you contact both an attorney and an accountant to discuss all the legal and financial aspects of your partnership agreement and make sure it is all in writing.

Concerning corporations, a business may incorporate without an attorney, but legal advice is highly recommended. The corporate structure is usually complex and more costly to organize. Control depends on stock ownership. Persons with the largest stock ownership control the corporation. All corporations must file articles of incorporation with the business services office in the state you wish to operate in.

Limited liability companies (LLC) are very attractive entities for many small businesses. While offering much of the flexibility plus the flow through tax treatment of a partnership for federal and state income tax purposes, there might be fees and permits required for city, county, and state levels.

With both options, it is recommended that you contact both an attorney and an accountant to discuss all the legal and financial aspects of corporation and LLC. For someone who is just starting out, you might want to be a sole proprietor. This is the easiest and least expensive option to get started with. As your business grows and you hire employees or expand your operation, you should discuss the other options with an attorney and your accountant.

Taxation

All businesses must pay taxes. When you register your business, most states and the federal government will require pertinent forms for compliance. A business start date is very important because you will be required to file income taxes and collect sales tax from that day.

Business Plan

A well-written business plan is the story of how you are going to run your business. It is your opportunity to chart the path where you want to go. Starting a business without a plan is like going on a trip without a map or destination in mind. It might be a fun trip. then again, it might not. Running a business in not a simple jaunt. You need to map and destination already in mind if you are to stay in business. How ever, writing that map and destination for your business does not need to be a complicated process.

Your business plan establishes you checkpoints and goal along with setting a timeline for accomplishing certain objectives. Knowing who the plan is written for will help in making it a better plan.

The essential components of a business plan are:

Executive Summary. A concise overview of the entire plan along with a history of your company
Marketing Analysis. Illustrates your knowledge about the particular industry your business is in, and presents general highlights and conclusions of any marketing research data you have collected.
Company Description. How all of the different elements of your business fit together.
Organization and Management. Your company's organizational structure; details about the ownership of your company; profiles of your management team; and the qualifications of your board of directors.
Marketing and Sales Strategies. How you are going to attract and service customers.
Service or Product Line. What you are selling?
Funding Request. The amount of funding you will need to start or expand your business.
Financial. The critical financial statements to include in your business plan packet
Appendix. Additional supporting information.

Choosing and Open a Company Bank Account

Once you have established your business name, formed your legal structure, and taken care of all legal tasks, you have to open a bank account for your business. One simple business checking account should be fine. As your business grows, you can discuss other options with your accountant.

Many business owners do not thoroughly consider their needs when selection a bank. Although there are laws and regulations that govern the activities of banks, saving and loans, credit unions and investments firms, not all financial institutions are the same. Each institution establishes its own policies for:

Types of products and services they offer
Criteria for qualifying for a loan
Minimum balances for accounts
Interest rates
Fees

While one bank may specialize in home loans, or auto loans another may focus on commercial loans for businesses. Some banks may only offer basic deposit accounts while others have lock box services, sweep accounts and even online banking.

That why it is important to evaluate your business needs before you select your bank.

Consider some of the things your bank can help you with:

Assist you with the cash management needs of your business.
Offer investments products of varying maturities - overnight to long-term certificates of deposits.
Offer investments of varying risk.
Provide advice about qualifying for the loan that best meets your needs.
Provide special loan programs for small businesses.
Assist you with finding financial information on your industry
Compare financial institutions in order to find the one that will serve your business's needs and will also provide support and assistance during each stage of your business. Selecting and instituting that you can work with will be especially important as your business grows. Start gathering information to help you make this important decision.
Approach the decision as a long-term investment.
Ask your accountant or lawyer to introduce you to a banker who they are familiar with.
Check your local chamber of commerce.
Look for a complementary personality - someone you can relate to and are comfortable with.
Introduce yourself to the bank manager. If you are looking for a loan, ask to meet the loan officer who will be assigned to you.
Find out how long they have been in their current position.
Tell them about your business and the form of organization so they can tell you what special products and services or restrictions that might apply.
You should not make this decision on pricing alone. But do compare interest rates on deposits accounts and basic consumer loans. Also, look carefully at the fees for services.

It is a good idea to establish a relationship with a banker before you need money. The right banker will be someone that understands the needs of emerging and growing businesses.

Professional Help

There are many ways that someone well versed in their field can assist you with your business. An Accountant can help you with setting up you bookkeeping structure, tax planning and a payroll set-up. Attorneys can help you with your contacts, setting up your business structure and lease reviews. An Insurance Agent can help you with planning the best overall package for your type of business.

Insurance

You should have the proper insurance for all of your equipment and vehicles as required by law or needed. Some jurisdictions may require you to carry business liability insurance. This can be obtained for around $200.00 to $1000.00 per year.

Business Counselors can help you with your business planning, loan applications, and referrals to other professionals. SCORE volunteers and Small Business Development Centers offer some counseling for small businesses.

On reason to contact a professional would be to find out about issues before them become a problem, especially legal or tax issues. Even if you are relatively comfortable with how you have set up your business, having an experienced person look over what you are doing can be helpful.

Points to think about when working with a professional:

Find someone that you can talk to, and feel comfortable with. A competent professional should never be to busy to give their clients the time they need to address their business issues, or return phone calls.
Find out what communication method work best: phone, Fax, e-mail, in person or regular mail.
Ask about billing rates and payment process up front, and what fines and/or penalties that professional is willing to take responsibility for, if they occur.
Before you leave a meeting, review any points that have been agreed upon for services to be provided. Or, further research to be done and the projected completion timetable, including the tasks that you have agreed to complete.
Use a calendar to not these timelines, as well as approaching deadlines for tax filings.
Ask if they will consult with other professionals (in other fields) as needed, and whom they work with already.
If you do not understand something, ask for clarification.

Selecting a Lawyer

Chances are that you will need legal advice right from the inception of your business. There are a number of legal issues where you might need help in your business in addition to getting your company set up properly authorized to conduct business.

Selecting a lawyer to work with your business should be done carefully. A lawyer will be one of your key advisors - you will want to ensure that you are comfortable with him or her and find is easy to exchange ideas. It does you no good if you are intimidated or uncomfortable asking questions, or discussing problems. Sometimes it might be necessary to change attorneys as your business needs change, but this can be an expensive process. Before contracting a lawyer, learn about how lawyers charge for their services so that you approach them with a good sense of what to expect.

Here is a practical approach in selecting a lawyer:

Ask for referrals from people whose opinions you respect and who have worked with attorneys representing small businesses.
Set up interviews with two or three attorneys. There might be a fee involved, but many attorneys will waive the fee for the initial interview.
Keep the interview focused on its purpose that is, determining if you are comfortable and have a rapport with the attorney.
Ask for references for other small business clients and contact them.
After you have interviewed two or three attorneys, you will be prepared to select the right one to help you with your business.

The following questions should help you get started with the interview process:

How have you assisted other small businesses?
Do you have knowledge about my industry or business?
How would you charge me for your services?
What can I do to help reduce you fees?
What do you think in the attorney's most important job?

An attorney should emphasize protecting small business from legal problems and future litigation. An attorney should be able to help guide your through the maze of regulations that govern the small business. Depending on your situation you may need someone that is an expert at contracts, leases, loan documents, transactions, patents or trademarks. They should be also skilled in communication and negotiations.

Legal Requirements

To operate a business legally one need to meet all the laws for operating a business in your state and local community. In the United States that means the laws of the federal government, state governments of every state in which you do business, and in many locales, even city and/or county laws governing business operation.

All of the US states have business resource offices that provide information on the legal requirements for operating a business in that state. Not that you need to meet the legal requirements for every state in which you will be conducting business. This applies to Internet transactions if you are going to be mailing a product into a particular state. Most states consider that a form of doing business in their state.

For the U.S. government, most businesses are going to need an Employer Identification Number even if they do not have employees. The IRS provides clearly written documentation of what is required in terms of reporting. Not only are there laws and regulations governing the actual registration of the business and the business name, but there may also be licenses and permits needed to operate certain types of business. You can find out more about such regulations from your state business resource offices or the city in which you wish to operate in.

Licenses and Permits

With so many tasks involved in starting a business, it is easy to overlook the important legal requirements associated with registration, permits and licenses.

Federal Requirements - With the exception of Sole Proprietors, most business must apply for an Employer Indemnification Number (EIN) regardless of whether they have employees.
State requirements - While business licensing varies from state to state, if your state requires one, you have to obtain it.
Business Licenses - A state business license is the main document required for tax purpose and conduction other basic functions.
Tax Registration - If the state in which you operate has a state income tax, you will have to register and obtain and employer identification number from you state Department of Revenue or Treasury Department. If you are engaging in retail sales, you will need to obtain a sales tax license.
Trade Name Registration - If your business will only be operated in your local community, registering your company name with the state may be sufficient.

Startup Financing

Finding the right financing that fits a business' goals is a continuing challenge for almost every small business. For startup businesses this can be one of the biggest hurdles in getting off the ground. Some entrepreneurs can be incredibly creative in finding ways to fund their ideas. Many others work another job as a way to fund their personal business. Most companies, however, find their startup funding in more conventional ways.

The most common sources:

70% Personal Savings
45% Banks and Finance Companies
25% Friends and Relatives
10% Individual Investors
5% Government Loans
1% Venture Capital

Using personal funds is very common, partly because few bank and finance companies will loan to people who will not risk some of their own personal funds. However, in the long run, most businesses will need external funding of some sort.

One of the toughest questions is how much capital is enough. A quick model for cash needs suggests determining how much capital is needed for one year of operation. That first year, keep your initial capital separate from your income. That income should be then the initial capital for the second year. Amounts you will need to finance are that initial capital and any growth you want to introduce above and beyond the initial model. Most companies that are successful today have started that simple.

Setting Up Business Operations

Running you business on a day-to-day basis is comprised of many different small decisions. While none of these decisions will make or break your business, they can each make a tremendous difference in how much time you have to get your real work done. An inefficiently designed workspace or the wrong equipment can influence greatly how harried and tired you are completing your primary work.

Given that you have done a thorough job in developing your business plan, you should have a clear idea of what equipment is needed to produce your product or service. To open your doors you need to have some basic managerial procedures in place. These procedures include everything from mail to good organization. Additionally, you need to have backup plans should one of your suppliers all of a sudden goes out of business or double its process. It may not be critical if you run out of paper for your copier, but you will definitely be stresses it is a product that is critical to your selling. Keep a list of alternates in your file. You will not regret it. It would not hurt you to review them a few times a year. You might discover that changes have occurred that make them more attractive and/or possible relationships that could be useful in renegotiating supply relationships with the suppliers you currently have.

Record Keeping System

Record keeping systems are frequently one of the biggest challenges in a small business. Perhaps the problem is that the creative side of running a small business in often at odds with "bean counting" side. Taking time to organize a good system can be tedious and time consuming, but it only takes one visit by the tax auditor to convince business owners that an organized system is useful. Why is record keeping systems important? Because they provide you the basis for all the reports you need to make to governmental agencies, banks, and potential funders, plus they provide you with an overall picture of how your business is doing and where it is headed. Financial statements are a way to track your progress towards goals and provide you with the financial information needed to make decisions as you go along.

Your basic record keeping system should be easy to use, understandable, reliable, accurate and timely. Here are some of the basics a system should include:

Business Journal to organize transactions (receipts, disbursements, sales and purchase).
A Well organized filing system.
Monthly reports on cash flow, accounts receivables, accounts payable, income statements and balance sheet.

Important questions

Why should I keep records? Good records will help you monitor the progress of your business, prepare you financial statements, identify sources of receipts, keep track of deductible expenses, prepare your tax returns and support items reported on tax returns.
What kind of records should I keep? You may choose any record keeping system suited to your business that clearly shows your income. Except in a few cases, the law does not require any special kind of records. However, the business you are in effects the type of records you need to keep for federal tax purpose.
How long should I keep records? The length of time you should keep a document depends on the action, expense, or event of the document records. You must keep your records as long as they may be needed to prove the income or deduction on a tax return.
What is the burden of proof? The responsibility to prove entries, deductions, and statements made on your tax returns is known as the burden of proof. You must be able to prove (substantiate) certain elements of expenses to deduct them. Generally, taxpayers meet their burden of proof by having the information and receipts for the expenses.

Opening Your Doors for Business

You have been over your checklists multiple times and everything seems to be in place. It is time to take the big step and open your doors for business. This is when you discover whether your are a real entrepreneur. What do you do with your time? The choices you make today will set the tone for your business from now on out.

The two biggest obstacles to getting going and keeping going are motivation and organization. Many people have no problem responding when there is a clear task in front of them. When you are starting a business, however, you do not have someone telling you what to do. You are the one making the lists and making certain things to accomplish. And this does not just mean filling customers orders, but taking care of everything.

Self-motivation in not something we are born with. As babies, we are thought in terms of immediate gratification. As business owners, we have to learn in terms of longer-term rewards. If you are going to stay in business, sometimes you have to tolerate doing things that are not fun.

Proper organization is a good way not to get behind and stressed. You have to institute good time management. In order to manage your time well, you need to have a complete list of all that needs to be done. List everything that needs to happen. Continue adding items to the list. For some people it is easier to list all the large tasks, then break them into their component parts. Once you have all these tasks on one list, put them on a calendar. That will give you a "to-do" list to structure each day. As your business grows, the list will change and grow. There is a wide variety of forms, logs and checklists available to help you

Finally, most important, give your health and well-being priority during the stress of opening your doors. Plan time for activities unrelated to your business so you can come to your tasks relaxed and clear-headed. You will not regret it and you will be amazed at what a difference it can make to your bottom line. Investing in yourself can be the hidden ingredient that adds the touch of quality to what you bring to the marketplace. Put that on you list and make certain it gets done!

Items To Be Completed Check If Completed:

Choose and Register a Business Name
Decide on the Legal Form for the Business
Taxation
Business Plan
Choosing and Opening a Bank Account
Professional Help
Selecting a Lawyer
Legal Requirements
Licenses and Permits
Startup Financing
Setting Up Business Operations
Opening You Doors for Business

To learn about vending businesses, go to: http://www.hotdogs1.net.

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Ten Things to Think About Before You Start a New Business

The tux fits perfectly. The boutonniere is jauntily pinned to your lapel. All of your friends and family are patiently watching and waiting for you... and then you see her, waiting at the other end of the aisle - it's your new business.

Much like expectations of wedded bliss upon getting married, high hopes and expectations abound when you are starting a business. But, like so many others in life, starting your very own business is a lifelong commitment. Before making the plunge, here are 10 questions to consider:

1. Is it a viable business? This is the big one... that's why I put it first. So many people rush into a business just because it sounds like a good idea or it's something they really want to do. The question to ask yourself is "Do I really want to risk hundreds of thousands of dollars on a hunch or a feeling?" The answer will come from your due diligence.

• The idea

First, is it a workable business? For example, you can't mine for diamonds on Pluto. No one even knows if there are diamonds there, and unless you have a spaceship handy, you can't get there. Similarly, you can't grow oranges in Alaska. As much as you may want to, they just won't grow there. Go to Florida or California instead.

Your business has to be based in reality. It has to be doable, and it has to have a large enough market willing to pay the price for your product or service.

• The market

For example, take a store filled with fancy dog collars. Yes, dogs wear collars. But will you really find 10,000 people a year willing to spend $100 for a bling-ed out dog collar in a town of 1,000 people? Doesn't sound like a good bet to me!

As I stated above, you need a target market that is large enough to sustain you-plus the ability to convert enough of that market into customers on a continual basis.

• Profit Potential

OK, so if the idea is workable and there's a market, that's great. Next you have to see if it will be profitable. It's not enough to open the doors. The only thing that's going to keep those doors open is customers-lots of them.

This is going to require a little more work to figure out. You need to estimate as accurately as possible every single expense involved in this business-from the rent to the inventory to the marketing to the payroll, even the licensing fees.

Usually, you'll have start-up and operating costs. As in, it takes $1.5 million to open the doors of a typical McDonald's. What it takes to run it every month-that's additional. And so you'll have to make enough money every month to not only cover those monthly expenses but also to recoup your investment plus turn a profit. It can be a tall order! So that leads me to the other side of the equation-projected sales or revenue (the money you will be bringing in). Since there are so many hands in your pocket as a business owner (the employees, the taxman, the utility companies, your inventory suppliers... you name it), you get to keep only a fraction of every dollar you make. That's why it's critical to find out what that profit margin will be. Thirty percent? Twenty percent? Ten? The answer is: It depends on the business.

Let's take a look at the latest information available as of this writing. Of course, it only includes publicly traded companies, as private companies tend to keep their information, well, private!

First, if you take the information all together, the median profit margin across all industries in the United States is currently about 4.6%. The average is a little lower, at 4.4%. That's right, less than 5 %! Meaning that the average business makes about 4 cents profit out of every dollar in sales. That's not so great, is it? You'd have to do a huge volume of sales-or have an extremely high-priced product (4% of $1 million isn't too bad) to get by on that profit margin.

Now, obviously, some businesses are more profitable than others. Near the top of the list are Internet Information Providers with an average profit margin of 22.7%. Hmmm... very interesting! Could it be because of the low overhead required for that sort of business? Most likely-with lower expenses, you get to keep more of the money that you make.

How about your McDonalds? While I'm not sure what your individual store would do, overall the restaurant category had a 9.1% average profit margin. It beat the 4.4% average profit margin!

This-and any other general information you may find-can give you a rough idea of your profit margin.

But it's no guarantee.

I should know. I had a home-improvement store (I call it a hardware store, but whatever). According to the latest numbers, the average home-improvement store has about a 4% profit margin. Well, I didn't. In fact, in my last full year (2009), I lost $100K... which put my profit margin in negative territory. Because of where my store was located and what was going on in my area's economy, I lost money in a big way. I was not alone. Other industries that are in negative territory right now include music and video stores, residential construction, radio broadcasting, surety and title insurance, recreational goods, and resorts and casinos. And that's just the short list!

• Do Your Due Diligence

So as you can see, there is A LOT that goes into determining whether your business will be viable or not! But it's important to take the time to find out nonetheless. And better now than later when you're struggling to pay the bills. When you've spend your life savings. When you're in debt up to your eyeballs!

Obviously if the business is already running, this whole process is much easier. Still, don't make assumptions based on what you see and hear. Do your due diligence on any business you are interested in buying. That basically means that you need to find out everything about it:

A complete financial picture-You need to know about everything. Gross sales, expenses, profit margin history... going as far back as you can get. Don't take someone's word for it. Get the tax returns and actual financial records of the business (this will also ensure that they've been honest with the government-you don't want to get sacked with a huge, delinquent-tax bill). This also includes any debts the business owes, the insurance they carry, the licenses they must hold, etc.

Legal Matters-Is the business involved in any lawsuits? Has it received any "cease and desist" letters? Does it have a checkered past? Check it out yourself.

Labor Issues-You need full disclosure on the employees' salaries, benefits, contracts (even verbal promises made), history, etc.

Property-Do they own the property or rent? How long is the lease for? This expense can mean the difference between profitability and poverty, so make sure you can afford it. Beware of a lease that may be expiring soon. You'll need to negotiate a reasonable new contract in writing so that you don't get whacked with an increase that you cannot afford.

You just can't be too thorough when you're determining a business's viability. So take your time and get it right. Remember, don't wait until you are up and running to find out what is wrong. It's better to walk away than to make a mistake that has lifelong ramifications. Don't rush it!

2. Is it recession proof?

You may be thinking that there is no such thing as a recession-proof business. I suppose if the world economy were to permanently collapse and there were no recourse, it would be true. But somehow, somewhere across the globe I think we'd find a way to get through it.

The point is that there are some businesses that are more recession proof than others. It's really a continuum. One extreme would be a business that is highly susceptible to economic conditions, for example, construction. It seems that one of the first things people do is stop unnecessary projects. The other extreme would be food... as in a grocery store or a restaurant. People have to eat. And the way our society is right now, most people can't grow or catch or raise enough to feed themselves. Therefore, they have to buy their food.

So where would your business fall on that continuum?

One note here: Just because the business you are considering is not completely recession proof doesn't mean that you have to toss out the idea. You just need to be aware of that vulnerability. And when the good times come, stash away a hearty reserve so that you can make it through the bad times.

3. What about the competition?

How competitive is the marketplace you are going into? Once again, there's a continuum between a completely open market (you'll be the only one) to overcrowded (it's difficult for the consumer to even be aware of, much less distinguish between, all the companies out there).

Obviously, with a completely open market, you will have a larger share of customers. You will have to work hard, however, to get the word out about what you do. It may take some time and marketing dollars to gain traction in the marketplace. Once you do though, it can be a quick rise to success! With a crowded marketplace, you'll need to do a careful analysis of the competition. See who is doing well and who is flailing. Then you'll need to try to find out why. And you'll need to look for a way to compete-can you do it better/faster/cheaper?

Or maybe you can find a new use for an old product and tap into an entirely new market. Either way, being able to state your competitive advantage is key to your ultimate success.

4. What about the target market?

Who are your most likely customers? Find out who they are, what they think, and what they like. Solicit their opinions on your business idea. You can use a focus group or simply run it by people you know (or people they know) who fit the demographic bill.

It's essential to get a read on whether the target market will actually like and buy your products and services. Don't skip this step... it's important!

5. Will technology make this obsolete in 10 years?

Here you need to employ foresight.

Imagine being the long-time owner of a camera and film-developing establishment. People have digital cameras now, which they can pick up at WalMart for under $80. Then they transfer their photos directly to their computers and print them out on their own printers. The quality? It can be amazing! This is how a store that was profitable for decades can seemingly suddenly become obsolete in a matter of a few years (sometimes less). Travel agents are another example. Customers cut them out of the loop when they went online to book directly. It's a dying industry now.

And that's not all. Thanks to NetFlix and video on demand, video rental stores are biting the dust. Newspapers, yellow pages... they are in the painful throes of death, too. They just can't compete with the Internet. Even the post office is feeling the pain with online bill paying!

Whatever business you ultimately choose, make sure it's of enduring interest to your target market-and that, as far as you can see, it will stay relevant no matter what technological advances come our way in the next 10 years.

The next 5 questions to ask before you start a business zero in on you. A business can be viable and recession proof. It can be the only one in the marketplace or have an unbelievable competitive advantage. It can have a large target market that loves its products and is willing to pay the price for them, and it can be immune to technological advances.

But all of that means nothing unless you are ready, willing, and able to do what it takes to make that business successful, unless you have the right mindset and support.

So take a few moments to ask yourself the next 5 questions to see whether you and this business are meant to be... or if you should keep looking for the right one.

6. Can you see yourself doing it for the next 20 years? You need to love what you are doing every day. You will work harder owning your own business than you ever would working for someone else. Being passionate about your business will help carry you through the tough times.

7. What kind of commitment will it take to make the business successful?

There are 2 types of commitment: time and financial.

How many hours and days of the week will this new business require of you? 40? 50? 80? 100? Are you willing to give it that?

Also consider the location. If it's a retail business, you'll need to be away from your family or significant other for those hours and days of the week. Think about the impact it will have on your personal life. You need to be willing to make the sacrifice if you have any hope of having your business succeed.

Financially, can you start this business without taking a loan? I had a mortgage on my hardware business. It was almost as much as my rent, and it handicapped me to a great degree. With my new Internet business, on the other hand, I was able to cover the start-up costs in cash. Without that debt hanging over my head, profitability was a lot easier to achieve!

Even when you form a corporation that is separate from your personal finances, you still feel the burden of any business loans taken out in the name of that corporation. It hangs over your business like a dark cloud. It's always best to limit debt in order to maximize profit. Consider also the operational expenses-what it takes to keep it running.

This leads me to the next question!

8. Can you survive for a year or more with no income?

When you tally up the numbers for start-up and ongoing expenses for one year, do you have enough to cover it? Many times, it takes at least a year to get the business chugging along to the point where a profit is made.

Do you have enough to live on for that first year while you are getting your business started? You'll have enough pressures with running the business; you certainly don't need personal financial issues adding to them. Having a financial cushion gives you peace of mind and increases your chance of success.

9. What's your Plan B?

OK, so let's say that it's year 2, and the business is not turning a profit. You need to access your Plan B... and maybe Plans C and D. You need alternate sources of financing in place and-hate to say it-an exit strategy as well.

An exit strategy that doesn't depend on someone else rescuing you by buying the business, either. We can't control that. But know what you will do if the worst happens.

It's better to think through this BEFORE you start the business. First, it'll give you that peace of mind that no matter what happens, you know what to do. That you have resources-that you have a plan.

Trust me, lack of planning for "the bad times" has sunk more businesses than anyone would ever want to count. You can't overdo planning!

10. Is my spouse/significant other on board?

And finally, if you are in a committed long-term relationship, it's not just you getting into this business.

I know what you might be saying: "But it's just my name on the business. It's just my finances on the line." No, it's not!

Your spouse or significant other has to ride in the same train with you. I'm sure your income contributes to the household in some way-well there you go. No matter how you slice it, you are tied together financially.

And remember that time commitment we talked about? That affects your loved ones, too... a lot. It may be fine with you that you are spending 11 out of 12 hours a day away, but it may not be fine with the other person! You need to figure this out in advance, or you may find yourself in a situation where your business is going great-the profits are rolling in-but your spouse is resentful, growing distant, and your primary relationship is in danger. I don't know about you, but to me that's too high a price to pay for success.

Congratulations! Believe it or not, some people never analyze the business they want to start or buy this deeply. Just by walking yourself through these 10 questions, you are much more prepared to take on a business. It's one of the most challenging things you'll ever do in life but also one of the most rewarding. Here's to being in charge of your own destiny!

By Michael A. Woolf

Author of Small Town Meets Big World How a Former Retailer Transformed His Business-and His Life-with an Internet Business... and How You Can, Too

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How To Start A New Greeting Card Business If You Are A Beginner And Don't Know How To Start

So you have spent a ton of time designing your own greeting cards for the people you love. Your family and friends have all said they are better than Hallmark and you should go into business for yourself selling greeting cards. That sounds good to you because then you could be your own boss, be doing something you enjoy doing and share your talent with the world. The question is how do you start a greeting card business when you are a beginner and you don't know what steps to take after designing your cards?

I would definitely start your business online. This is the best way to test your products and find your market without the massive upfront costs associated with opening a store. Just recently one of the largest greeting card stores in Delaware, Coccia is shutting its doors after 35 years in the business.

Back in February 2010, market research firm Mintel reported that the $11 billion greeting card business was being bombarded by new online competition. It's been staving off threats by introducing creative new cards -- think of the ones with music built-in, or others that allow purchasers to record a personal greeting. But the industry has been merely treading water for a couple of years now after strong growth earlier this decade, the report said.

Today it is not viable to open an offline greeting card business it is certain death. The great thing about an online business is you can sell your greeting cards worldwide, you are not limited to a suburb or city and your overheads are nowhere near the costs of running a bricks and mortar business.

Starting a Greeting Card Business on the Internet still takes planning, so the best way to start to is to write a business plan. A business plan will help you organize your thoughts and better prepare you for selling greeting cards and making it a success. A great place to start is by researching other online greeting card businesses on the internet and start writing down some ideas.

A good business plan should include information on:

A description of your business - what type of cards will your business offer? Who will want your product and how will you market your cards to potential clients? Think about what type of cards you will make in your business; are they romantic cards? Cards for special occasions? Cards directed at businesses? Do they have a theme like "Cards for Golfers and Gardeners?"

Equipment and inventory needed - What equipment will be required to run your business? What type of inventory will you need to start? Where will you get the supplies and equipment you need to make your business operational and what will the cost of these materials be? Will you make the cards by hand or computer? Will you print all of your cards at home or send them to a printer to be done? Do you need any new software or equipment like printers? What kinds of paper and decorations will your cards use and how much will the equipment cost that you need to start out?

Competition and Demand for Product - Who are your competitors? What do you offer that your competitors do not? How will you make your product unique so that you offer something that is not available now to potential clients? Are you planning on marketing to businesses? Are you planning on marketing with a website and running your business completely online or will you be marketing to companies and stores with your product on shelves? Who already sells products like yours and can you compete with those who are already selling similar products?

Operation procedures - How will you run your business? Who do you need to help in the process? What are your creation plans and how will you develop your product? Are you going to do all the work yourself? Will you advertise through a catalog or through a website? Will you have an inventory on hand or make cards as they are ordered? Is this going to be a part-time business or your full-time income?

Long-term and short-term goals - Where do you see your business being in a year, two years, three years and five years? Write a detailed monthly action plan for the next year and a quarterly detailed plan for each of the years after that. Set your goals and plan how you intend to reach those business goals.

Financing- Do you have the capital needed to start your own business without financial help? How much money do you plan to invest? Do you need other investors? Do you plan to have a partner, ask family and friends for investment capital or apply for a business loan or grant? Applying for a business grant or loan will require a detailed business plan to be submitted showing that you have thought out and planned everything necessary to start your business. This will also require financial information from you for the past three years, projected costs and income, resumes of those involved in the business, overhead expenses, competitors in area, and how you plan to compete.

In order to start your own greeting card business and write your business plan there is some information that will help you along during the process. You should consider the following:

What kind of income can you generate with this?

Greeting cards can range in price from $0.50 to $8.50 a card. More than $7.5 billion is generated in retail sales of greeting cards and more than seven billion cards are sold each year.

What are the actual steps that you need to take in order to start your own Greeting Card Business?

The first thing you need to do is your research and planning. Then put your research and planning on paper into a business plan for your business.

Once you have a plan you can execute it by starting with creating your designs, creating a marketing plan and executing it. You will also need to build a blog/website so if you don't know how to do this yourself then you will need to find a web designer to do it for you.

What type of printer makes professional looking greeting cards?

Any good quality color printer will work to print off your greeting card. You may find that a multi function printer is the best way to go so that you can scan your designs, print your cards, fax and communicate with clients and more efficiently run your business with one machine. The top five multi function printers are considered to be


Brother MFC- 7820N Printer
Canon Pixma MP600
HP Officejet 9120 multifunction printer
Samsung SCX 4200
Epson AcuLaser CX11NF

How do I get them in stores?

To get your greeting cards into stores you will need to do a great deal of cold calling and legwork. Design a portfolio of your cards, a price list of costs and contact the buyer for each store. Small stores may be the way to start and then when you go to larger established or national chains you can show them the success that you have had in other stores.

What does the printing cost?

When going to a print shop or having them printed by an online printing company you get a cheaper cost per card with larger orders. It depends on where you go and how many cards you want printed. You can also get a discounted price if you are not in a hurry for your order. Cards can cost approximately $200 for 250 cards at a printing shop. Printing cards at home can work out to be quite expensive due to costs of ink for the printer you have, though again if you buy in bulk you can get a reasonable price. Don't be afraid to shop around.

What is the standard size of a greeting card and where can I find a template?

A sheet of 8 1/2" by 11" cardstock will create two greeting cards of 4 1/4" by 5 1/2". These cards will fit in a standard 4 3/8" by 5 3/4" envelope. This way you do not need to special order envelopes.5 1/4 x 7 1/4 fits a 5x7 are also commonly used.

What type of camera should I buy for taking photos for printing on greeting cards?

Any high quality digital camera will work for creating photos for your card. Digital cameras take out the extra step of having to get pictures developed or printed and scanned onto disc. It can cut down on your overall costs of your card business if you can do it yourself.

How do I get financing for a greeting card business?

There are some business grants and loans out there for start-up businesses but you may not need to go into debt with a financial institution. If you already own a computer, printer and camera then your start-up costs for starting a Greeting Card Business may be minimal. You could start your company for less than $500.

What equipment do I need for a home greeting card business?

You will need a computer, printer, camera or scanner, paper stock and envelopes, inventory and business software to run the company, invoice stores or clients, make business cards and promotional material

What are some of the legal issues I need to be aware of when starting a greeting card business?

Depending on where you live and what the laws are for your area, you may need to register your business and copyright your products and names used. You should contact your local government business office or do some research online to ensure that you know the necessary legal steps required in your area.

What are some good card designing software applications?

There are many great greeting card creation programs for your greeting card business on the market right now. Hallmark has several software packages out there The Print Shop and Broderbund are both respected names in printing software and have some great packages for printing greeting cards.

David W. Allen is an online business consultant and Internet marketer helping business owners build and expand their greeting card business on the Internet. David W. Allen offers a free 10 part mini course revealing "10 Proven Ways To Sell Your Greeting Cards" so if you're are thinking of starting a greeting card business then take the free course today and get started.

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9 Ways How NOT To Start A Business

A journey that begins with a wrong step seldom ends at the right destination.

Becoming your own boss has sort of gained a global appeal. These days many people start up their own businesses for virtually any reason. Somehow it doesn't seem to count anymore what led people to go into business, going into business has suddenly become the new mantra of the 21st century. Obviously, there are several factors owing to this global trend some of which are; the emergence of the Internet, the unreliability of job security, the God-like attention given to successful entrepreneurs, the rise of the knowledge worker and so on. In the end, it's not the number of businesses that are being started that matters, but the number of businesses that thrives.

Therefore, in this article I will be x-raying some of the ways how NOT to start a business so that in the end, you can have the right mindset needed to start a business. I welcome you to join me in this exciting journey and as you go through this unusual article I want you to constantly bear this in mind, failure in business is usually as a result of how you start. It is the beginning of a thing that often predicts the end. As always, I encourage you to share this unusual information with as many entrepreneurs as possible and don't forget to share your thoughts and opinion in the comment box below. There's no way you're going to read this, without having one or two things to say; trust me, it's just too unusual for you to keep quiet. J

Enjoy!

1. Don't Start a Business for the sake of MONEY

Top on the list of reasons why people go into business is the strong desire to amass wealth. I have never known of a more ineffective way to think about business than this. As unpopular as it might sound, most business failures stem from this singular fact alone. Why? Because the moment making money becomes your primary focus as an entrepreneur, delivering value which is the foundation of effective business practice becomes secondary. And when this happens, no matter how great your business is, it automatically goes on a downward spin. Nothing kills a business faster than putting money first before adding value. So when next you're thinking about starting up a business, I suggest you lose every possible thought about making money and focus entirely on delivering consistently superior value. Trust me, I'm talking from experience (of other people), starting your own business for the purpose of making money is a sure fire way of being highly indebted and having cardiac arrest!

2. Don't Start a Business because you LOST your job

Closely related to the issue of money is going into business because you lost your job. As you've probably realized, this is how many people end up as entrepreneurs. At first glance, there might not be anything wrong with this approach of starting up a business, but taking a closer look will reveal a vital truth; people who lose their jobs are often driven by fear and to start a business because you are afraid is absolutely disastrous. The implication is often enormous; top on the list is that you will never exercise the due diligence starting a new business entails. Why? Because the fear of living without a regular income since you no longer have a job will keep haunting you and eventually start making you place unrealistic financial expectations on your new business venture. Second on the list is that you are emotionally unstable the first few months of losing a job, especially when you didn't see it coming. The disappointment can be disheartening, the more reason why you shouldn't go into business with such mind frame. Why? Because in the world of business, disappointments are a natural prerequisite for success. Meaning, the more disappointments you get, the closer you are to success.

3. Don't Start a Business because you HAVE money

I know you're probably startled about this one. You certainly didn't see it coming. Well, it's as wrong as starting a business for the sake of making money. How? Here's the thing most people with money don't realize, it doesn't take money alone to make a business work. Starting and running a business will cost you more than all the money you think you have. There are just too many things a business will demand from you that money can't even buy, for example; how much does it cost to buy the passion needed to build a SIGNIFICANT (unique and useful) business? Have you ever seen passion being offered for sale? In fact, no university or institute of learning can even teach you passion (not even Harvard or Stanford J). Here's the truth, having money is good, but it's not sufficient enough to make you want to start a business. Starting a business requires gut, passion, ingenuity, creativity, resilience and so many other personal character traits that all the money in the world is insufficient to buy!

4. Don't Start a Business because you want TIME Freedom

The thought of not having to wake up early and rush off to work can be very enticing to would be entrepreneurs. But take it from me, I've been in the game now for 4 years; the fact that you didn't wake up early and rushed off to work doesn't mean you are not at work. Being an entrepreneur means working all of the time even in your sleep. That your fantasy of time freedom will naturally go sore once you choose to become your own boss. How do I mean? You see, it's not that you wouldn't have more time to yourself when you're an entrepreneur, certainly you would. But the irony of it all is this; that time freedom is for you to do some creative work and not for you to be idle and indulge yourself in some unproductive activity. You left your job to have enough time to do what you really care about in life, that's all the definition of time freedom you'll ever get - having enough time to make a SIGNIFICANT contribution with your life to the world. True entrepreneurs hardly stay idle indulging in pleasurable activities just because they have time freedom. They are always in the creative process, picking up clues here and there of how they can make the world a better place by utilizing their time, money and life for something worthwhile.

5. Don't Start a Business because OTHERS are doing it

Anything that is popular has a way of being highly contagious. People just literally jump at it without any logical explanation. Believe it or not, this is how so many people ended up in the world of business. Since everyone they know is quitting their 9-to-5 jobs to go start their own thing, why shouldn't they do the same? The down side of going with the bandwagon is this; you'll lack the staying power critical to survival in the world of business. At first, the thought of being your own boss can be very enticing, but sooner or later you'll realize it's not a bed of roses. And when this reality sets in, you're the only one who would be left alone to figure out a way of making it through the stormy days. So start a business because it's what your soul desires and not what the society or your peers desires for you. Starting your own business is not about boosting your personal ego or winning a popularity contest, it's a personal decision born out of an internal conviction!

6. Don't Start a Business because you HATE working for others

Now here comes the tricky one; starting a business because you hate working for others. After wanting to make money, this is another popular reason people give for going into business. Listen, as popular as it may seem, here's the truth; 99% of popular things are either totally wrong or mere misconceptions. That you hate working for others is no guarantee that you will succeed or enjoy working for yourself. In fact, there's more work to do working for yourself than you ever thought you did working for others. So if you hate working for others, you might just as well hate working for yourself. What it turns out to be sincerely is this; you simply don't like work in general and this is why starting your own business is the last thing you should ever think of doing. Why? Because business is the domain of unlimited work; there are no working hours like your regular 9-to-5 job. Welcome to the 24/7/365 days a year working schedule!

7. Don't Start a Business just LIKE everybody else (Differentiate or Die)

In my field of business development, I have seen so many people go into business just because they saw somebody else succeeding in it. This is a higher form of going into business because others are doing (point #5 above). You observe a business and simply go make a clone of such business. So what do we get? The same kind of business but with different brand names. I don't get it; "Why would any right thinking person choose to be a duplicate of another when it's absolutely possible to excel being an original?" As a matter of fact, you have higher chances of succeeding going into business as an innovator than being a duplicator.

The business terrain is already overcrowded filled with countless number of companies doing almost the same thing you have in mind to do. Unlike in the past before the advent of the internet where you had only local or national competitors, such is no longer the case in this age of globalization. Now your competitors are all over the world and just one click away from your local or national target market. So why would you want to build a business just like your neighbour? Here's the deal; if your business doesn't stand for something SIGNIFICANT (unique and useful) there's no need repeating what others have already done and giving it another name. Meaning, if there's nothing positively unusual about your business, don't bother going into business to offer the same old milk but now in a new brand skin or container. Doing this is the fastest way of route to extinction. In other words, differentiate or die!

8. Don't Start a Business without SUFFICIENT planning

Business is a highly complex activity and therefore requires adequate planning. It's been statistically proven that inadequate planning is top among the reasons why most businesses fail. I'm sure you already know that by now (that's why it's the second to the last point J). Why then did I include it in the list? Because most times, the problem is not about what we don't know but more of what we do know but never put to use or practice. There's a phrase that best captures the essence of planning and it goes like this; "He who fails to plan, plans to fail". And a key element of planning is having a long term perspective of things or as it is popularly called; seeing the big picture. Which intentionally, happens to be the subject matter of the next point to which we now turn.

9. Don't Start a Business that cannot OUTLIVE you

One of the underlying principles of the Accounting profession is called; "going concern" which means that a business must be in perpetuity. That is, a business is meant to exist as far as there's still a need to be met. It's just basic human nature; I mean who wants to raise a child only to watch the child die before their eyes? In the same regard, you should never start a business that has a short lifespan. Starting a business from a short term or temporary viewpoint, as far as I'm concerned is the definition of selfishness. Why build something temporary when you have the potential to create something eternal? The joy of any creator is to see his/her creation rise above their widest dream and outlive the very existence of the creator. So here's the ultimate question for you; "does your business have the capacity to outlive you?" OR "Would your business still be in existence long after you've gone?" Never start or go into a new business without asking and providing answer to either of these questions.

What then is the RIGHT way to start a business?

It's in the bid to help you answer these two questions above that I now offer the only right way to start a business.

Start a business because you have something SIGNIFICANT (unique & useful) to contribute to the benefit of the human race!

Why?

Because a business is a tool that entrepreneurs create in order to make a SIGNIFICANT (unique & useful) contribution to the world by addressing a particular problem plaguing the human race.

In case you're still wondering how to use your business as a tool for contributing something SIGNIFICANT (unique & useful) to the human race, here's an unusual article that takes you through the process;

"Building a great company"

My name is Tito Philips, Jnr. I'm a young Nigerian that is MAD -different and making a difference. My purpose in life is to help people, businesses and lives become SIGNIFICANT (unique & useful), so I created an unusual company called http://www.MADphilips.com to achieve just that. I also run an unusual blog [www.naijapreneur.com] where I constantly share unusual business development tips for unusual entrepreneurs who want to build SIGNIFICANT (unusual) businesses.

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