Business Consultants

Archive for August, 2010

It’s a great time to be an entrepreneur—in the last decade, technology has leveled the playing field and propelled an entrepreneurial revolution. As an entrepreneur, you now have more access to information that enables you to make more intelligent choices more quickly. You have an advantage over big businesses in that you’re lighter, more flexible, and faster on your feet. You can target new markets more quickly, and you can turn on a dime.

But being a successful entrepreneur requires that you look at the big picture and follow a plan through from beginning to end. Rieva Lesonsky, editor-in-chief of Entrepreneur Magazine gives some practical guidelines that can help you when beginning your own enterprise:

1.Don’t Quit Your Day Job.
Consider starting your business part-time, especially if it’s online, while you’re working and have a steady income. It usually takes six months to a year to get a business going and you don’t want your ability to make your house payment to hinge upon your company being an overnight success. Start with what you can manage, financially and time-wise, and scale up as your business grows.

2.Find Your Niche.
The days of general stores are over. Particularly online, consumers are looking for stores that specialize. You have to find a need—something a specific group of people want, but can’t get at the big chain stores—and fill it. Advises Lesonsky, “You can’t compete with the big guys, so you have to find where the big guys aren’t and go into your niches.”

3.Have an Online Presence.
Even if you’re not planning to start an online retail business, consider that the internet can still play a valuable role in your company. Having an online presence eliminates the limitations of physical location and broadens your customer base by, literally, millions. It’s also a great tool for promoting yourself and letting people, even in your own area, know that you’re there, and what you’re doing.

4.Refuse to Quit.
Successful entrepreneurship requires creativity, energy, and a drive to keep going when you fail. Few people realize that before Bill Gates created the extremely successful Microsoft 3.0, he created a Microsoft 1.0 and 2.0, both of which flopped—but he kept at it. And that determination and refusal to give up is what will separate successful entrepreneurs from unsuccessful ones. Says Lesonsky, “Arm yourself with optimism to get beyond the ‘No’ or the trouble. There’s nothing wrong in failure—just don’t repeat the same mistake!”

The many home based business income opportunities available both online and off will help you bring in extra cash each month. It will take time to build an Internet business and as you gradually gain more experience, you will notice that the monthly checks get higher. With most home based business income opportunities, just setting up a business does not mean you are going to get rich immediately. You have to put the time into building the business one step at a time. That applies to internet home based business income opportunities as well, but it can be faster.

There are many possibilities for setting up a home based business. You do need to have a product that consumers want to buy, just as with a brick and mortar business. You don’t need to be a computer Guru to make money with Internet business ideas and it will not cost you a lot of money to get started. Since you work at home on your own time, you don’t have the overhead of rent or salaries to pay out. You work for yourself when you have been able to take advantage of good home based business income opportunities and reap the benefits.

You can stock your garage or basement with one or more products that you want to sell through your own website and then when you receive an order you ship it out to the customer. However, this means that your Internet business startup costs will be high. An alternative in Internet business ideas is to process the orders and send them directly to the manufacturer, collect the money from the customer when they pay on your secure site with a credit card. Although this does cut down on the startup costs, with these sorts of home based business income opportunities you do need a merchant account, which means extra monthly fees and restrictions.

Why not avoid all this hassle by simply becoming an affiliate on your website? Becoming an affiliate for a range of products is one of the best internet home based business income opportunities available. You can display a picture of the product, a simple description of it or a detailed article of how the customer can benefit from purchasing it. By availing yourself of free home based business income opportunities offered by affiliate businesses, you just provide a link to the company from your website. The customer clicks on this link and orders directly from the company. This is one of the most used home based Internet business ideas of all and you can do it all from your home, and is one of the best
home based business income opportunities.

Start jotting down ideas for products that you know are good and that people want to buy. Search the Internet for affiliates offering free home based business income opportunities for these products and then start building your website. You can have a menu on one side of the page with all kinds of products so that customers can choose the ones they would like more information on. With home based business income opportunities using affiliate marketing, you can give details of your experiences with the products so that those who click on your site will respect your opinion.

There are some great home based business income opportunities available on the net.

You’ve landed what you thought was the job of your dreams. Each stage of the interview went smoothly – you sold them on your skills and expertise, and your prospective boss sold you on the position and benefits of joining the company. He/she seemed excited about extending an offer. And then, with offer in hand, it was thrilling to give your notice (or tell your friends you’re finally employed after a long stint of unemployment!). All seemed right with the world.

You’ve now been on board a few days… a week… perhaps even a month. Suddenly you’re not so sure you’ve made the right decision. The job that seemed like a dream is starting to feel like a nightmare. Perhaps the position isn’t what you thought it would be; it’s either too narrow, too broad, not challenging enough, or more of a stretch than you imagined. Maybe the company isn’t measuring up. Or, perhaps your boss isn’t the caring, supportive mentor you thought he/she would be.

In a state of confusion, you wonder what you should do. Stick it out? For how long? Leave? Then what? The decision to stay or leave a new job is a personal one, with no right or wrong answer, as everyone’s situation is unique. And most people, at one time or another, have been faced with this dilemma. To help you think through your next move and determine what’s right for you, here are some questions you may want to ask yourself:

Is it just the newness of the job? Changing jobs can be an unsettling experience. In your previous job, you knew your way around – you knew what was expected of you; you knew your job; you knew the players; you felt like you belonged. In a new job, however, it takes time to learn the ropes and feel like you’re truly adding value. Sometimes it’s best to give yourself time to get over the “newness” and then decide if the job is right for you.

Can you live with your boss? Hiring managers sometimes put their best foot forward in an interview, then do an about-face when a new employee arrives. Even though your boss isn’t the supportive manager you thought he/she would be, can you live with the change? If so, it may be worth staying. If, however, you experience a nauseous stomach on Monday mornings or a rise in blood pressure every time he/she walks into your office, it may be wise to consider leaving.

Can you navigate the politics? Office politics can be the bane of many employees’ existence. If you’ve been hired into a political crossfire, it will be important to assess your political skills to determine if you can make it work. If politics aren’t your strength, you may want to leave before you find yourself failing without even knowing why. If you’re good at developing relationships and working with differing styles, as well as “managing up”, you may want to consider staying and seeing if you can make a tough situation work.

What will you learn if you stay in this job? Sometimes a seemingly wrong job can turn out to be a terrific opportunity to learn new skills, become exposed to new technologies, and gain valuable experience. Is it possible this job could be a stepping-stone to a better, more satisfying job down the road? Could it ultimately propel your career forward? If so, and you can tolerate everything else, it may be worth staying.

If the scope of the job has changed, can it be renegotiated? If the actual work turns out to be far different from what you thought it would be, you may want to speak with your manager to see if aspects of the job can be changed. If the scope is too narrow, can more responsibilities be added? If the workload is too great, can you get some assistance? If the job ultimately represents a step backwards and/or you’re doing work you didn’t feel like you signed up for, it may be worth looking elsewhere.

Can you afford to leave without another job to go to? If your boss, or the job, or the politics are so bad it’s beginning to affect your health and personal life, then leaving sooner rather than later may be the best move. But can you afford it? Carefully evaluating your financial situation prior to jumping ship will help alleviate regrets later on. Consider also the momentum you had in your job search prior to starting your job. Can it be easily resurrected so your time of unemployment is minimized?

The decision to stay or leave an intolerable new job is a tough one. How long to stay is also a dilemma. Many have left after two weeks, never to look back. Others have stayed, only to regret staying too long. And still others have stayed and managed to make everything work out. Only you can decide what’s best for you and your situation.

If you answer the above questions honestly, you will surely make the right decision for you. Pay attention to how you’re feeling and what the job is doing to your health and self-esteem. Recognize that the longer you stay, the greater the requirement to add the job to your resume. Know that it’s always an option to stay and look for employment on the side. If you do that, it may be valuable to evaluate your job, boss, team, and culture requirements so you can develop some insightful interview questions to ask the next time around.

Talking with a trusted friend or colleague can be helpful during this challenging time. Whether you choose to stick it out and hope for the best, or leave right away and cut your losses, trust that you’ve made the right decision. And know that regardless of the outcome, the experience has presented an excellent opportunity for learning and personal growth that will be invaluable in helping you manage the rest of your career.