Small Business Starting – Ways Of Shopping For Money – Part 1

Many people who choose the arts field do not have money to support their ideas. Our history also shows that these same people do not allow the lack of money to stop them from being creative and realizing their dreams.

Some people start their creative talents and their businesses with little or no money. Somehow they seem to manage until the right source comes along to assist with the project. If the right source does not come along, they will continue doing it on their own until the work is finished. These people usually have a strong desire and determination that will not allow them to give up due to lack of money. You must look into the traditional and non-traditional ways to get money to help with financing your business. In addition, you may contact the state art’s council in your area regarding support. The following are a few money sources for small businesses:

Traditional Ways to Get Money

Bank business loan – You may apply for a business loan through your local bank by filling out the necessary loan applications. Most banks require that you submit a copy of the loan application along with your business plan for their review to be considered for a small business loan.

Small Business Administration – You may get information on the Guaranty Loan Program for small businesses by contacting the Small Business Administration. The Small Business Administration provides financial assistance only through its business loan program.

Another traditional way of finding funds for the business start-up is to contact investors. When you contact an investor, you should submit a business plan for your business. It is worth the time and effort to submit a good business plan, as this is probably the first thing the investor will see about your business. You can also find names and telephone numbers of investors on the Internet.

Are you interested in starting a business?

To the new and experienced entrepreneurs, getting help with your small business is very crucial to your success. Getting the right help will cause you to avoid costly mistakes, and it can also help you to save a lot of time, money, and energy. You will need to get the right help to form the legal structure of the business, financial, management, procurement/certification, marketing, pricing products, preparing a business plan, and more.

How To Create The Foundation Of Your Highly Profitable Online Business

‘First things first’ and ‘A good begin is half the work’ are two very true sayings. They go for everything in life, whether it’s personal or business. A recent study showed that over 60% of all online entrepreneurs didn’t prepare their business or themselves. This crucial step results in thousands of business owners failing.

Doing business online is no different from business offline. Both need a decent business plan, strategy to compete with other players in the market and a viable business model. In this article I’ll prepare you and your business to guarantee your online success.

1. Don’t see your website as a business. Your website is the place where people can find information about your business and it’s products and services. It may also be a place where people can place an order directly.

When you read the above paragraph again you’ll notice that it actually is a description of the word ‘media’ – a way to reach potential customers or clients. Just like newspapers, magazines, radio and television your website is a media. Start seeing it as a media to reach your market, instead of seeing it as your whole business. There’s so much more to business.

2. Running a business includes dealing with people. Although a lot of entrepreneurs are afraid of dealing with people face-to-face or even on the phone, they opt for running an online business. But even then they’re forced to have regular contact with people, whether online of offline.

And it’s not only your customers, like many online business owners think. Next to customers you got a whole list of people you should care about and work with, without them you can’t ever build a profitable business. Here’s a small fragment of the many people you’ll be facing: affiliates, vendors, JV partners, production firms, PR firms, writers, designers, technical assistants and personal assistants.

You see there’s no difference in doing business online versus offline. Be prepared to deal with people.

3. A business can’t live from just one product. Every product has a limited lifespan and will one day stop selling. Online the time seems to go faster, thus products may become obsolete in just a few months. Most business owners don’t have ideas for new products when that happens, because they’re put under pressure. Their business fails.

Many people who learned about online marketing and online business are confronted with so-called mini websites. Those sites that have one page with a sales letter on it, selling just one product. They think it’s the way to have your own online business – while it’s absolutely wrong.

The best possible solution for online business owners is to have multiple entry-level products, together with an extensive range of back-end products. The various entry-level products can be very ‘niched’, for example a marketing course for Italian restaurant owners who’re based in New York. Have several of those to capture all parts of your market and market the same back-end to everyone of them.

Please remember it’s almost impossible to create 5 different high priced home study courses, instead of just one general – for all kinds of restaurant owners.

4. Business is not only about marketing. There’s so much more to starting, running and maximizing a business then just the marketing. But since a lot of people think they’re so-called internet marketers, they don’t think of it as a real business.

Real businesses also include management of resources, both human and Money, product creation, networking, competitive research and customer support. There’s so much more to be done behind the scenes then what we see on the outside. Without thinking of the other important business owner tasks, you’ll never succeed.

5. Finding a gap in the market. Most people are told that you should find a gap somewhere in the market and fill that up. But there’s much more to that. Think of it this way: you’re a chemical engineer and find a whole in the automotive industry. You won’t be able to fill it, at least not without investments of many millions.

There are to other points you should take into account when brainstorming or researching for a potential market to get into. These two points are capacity and passion. First the product or service must be one that can sell enough to build a big company out of it. If there’s only room for around 100,000 a year, the market isn’t worth your efforts. The second is passion. You should be passionate about, or interested in the market you’ll be pursuing. Otherwise you’ll quickly lose your momentum.

6. Change your attitude and mindset from employee to the business owner. There’s lots to be said about this subject. But once you experience the difference between the two different mindsets, you’ll get much better results within less time. I’ll go into detail and give you a step-by-step solution for changing your mindset in my next article ‘The Profitability Of Working On Your Business – Not In’.

What It Takes To Be A Successful Small Business Owner, According To Your Strategic Thinking Business

Did you ever wonder why some small business owners are so successful and are always steadily growing their business, as compared to others who constantly struggle to manage and grow their business? In my research and in reflecting on my own business coaching experiences I have found that there are several key characteristics of successful small business owners. Your Strategic Thinking Business Coach offers the following list of ten (10) key characteristics that describe the successful small business owner.

1. They are visionary and have the ability to create a clearly defined vision for their business. They see the value in clearly defining the strategic focus for their business.

2. They are never 100% satisfied. They are committed to continuous improvement in their business. They are aware of their successes and do celebrate their successes, but they are always looking for ways to improve their services and products, their systems and processes, their customer service and other aspects of their business.

3. They are lifelong learners and always look for the “lessons learned.” They are not afraid to make a mistake or to fail. Truly successful small business owners rarely, if ever, experience a “straight path” to their success. More common is a “hazardous and winding road” with failures and obstacles along the way.

4. They seek advice from business coaches, mentors and experts. The successful small business owner realizes he or she cannot be an expert in every aspect of their business. They also realize they can gain great value and insights from outside sources and reach out to those sources for advice.

5. They are optimists. This is especially true of entrepreneurs who own small businesses. They seem to always see the glass as half full, rather than half empty.

6. They hold themselves and others accountable. This is a rare characteristic of small business owners. Most small business owners are accountable only to themselves, which means they are not held accountable. This is another area where a business coach can be a valuable asset to the small business owner by holding them accountable.

7. They continuously build relationships. One of the key marketing strategies deals with building relationships and this must be a continuous activity.

8. They create opportunities rather than waiting for the opportunities to come to them. Even in crisis situations, the successful small business owner will look for and create opportunities.

9. They are effective strategic thinkers and planners and apply the principles of strategic thinking and planning to their business on a daily basis.

10. They are excellent listeners and really hear what their clients say. They have a commitment to understand what they have heard.

Your Strategic Thinking Business Coach encourages you to fully realize the benefits of business coaching to strategically and effectively manage and grow a successful business. If you would like to learn more about how a strategic thinking business coach can facilitate and guide you in that endeavor, please contact Glenn Ebersole today through his website at http://www.businesscoach4u.com or by email at [email protected]