Business ideas

Business ideas

More »

Business tips

Business tips

More »

 

Tips to Start a Business While Working a Full time

unduhan-96So you want to start a business, but between working a full-time job, managing your house and taking care of the kids, you don’t know how in the world you’re going to find the time. Don’t despair, it is possible to start your dream business while working full-time. There are currently more than 28 million small businesses in the U.S. Each year, roughly 10-12% open and another 10-12% close, according to the Small Business Administration.

A Five-Step Guide to Starting a Business When Working a Full-Time Job
Step 1: Find your “why”

Why is it that you want to start a business? Do you want to leave your full-time job and work for yourself? Are you craving the freedom that comes with running your own business? Or, do you simply have a great idea and you want to sell it to make some extra money on the side? Determining your “why” will help you stay motivated during the hard and busy times that lie ahead.

Step 2: Set business hours

When you first launch your business, it’s going to seem like you’re working non-stop (most likely because you

Tips to Get Your Idea Featured on Shark Tank

images-42Many American entrepreneurs share the same dream: Find a novel, marketable product or service, and transform it into a bundle of cash. One unique but unlikely way of bringing an idea to market involves pitching it to lauded business owners in front of a national television audience. Selling the value of your concept to, and seeking capital investment from, the likes of Dallas Mavericks’ owner Mark Cuban on ABC television’s Shark Tank requires organizational skills, a little bit of luck and a big, bold approach.

The Big Stage
With 8 million viewers and a panel of six discerning judges, the sales podium on Shark Tank is not for the faint of heart. Stuttering and stammering through an audition with the show’s casting producer Scott Salyers likely marks the end of the road for an applicant, despite the merit of the concept. Passionate presenters stand a better chance of advancement than soft-spoken wallflowers. Therefore, repeated video rehearsals are suggested to convey a level of polish required to garner your 15 minutes of fame.

Don’t Back Down
Tension makes for good television. Objections thrown at determined pitch people

How To Creating A Stellar Business Plan

unduhan-97A business plan serves two purposes:

It provides a road map for your business.
It helps you obtain outside financing.
If you’re going into business for yourself, you must have a business plan – period. Numerous studies have shown that one of the major reasons new businesses fail is poor planning. (Many people want to start a business, but not everyone has what it takes to succeed. Learn more in Are You An Entrepreneur?)

The good news is that developing a business plan is not as hard as it seems. In order to develop a solid business plan, you need to have a thorough understanding of the business you’re entering. Next, you need to determine how you’ll use the plan and who your target audience is. Finally, you should create a complete a business plan that is comprehensive and concisely written. We’ll explore each of these steps in detail.

Step 1: Know Your Business
In order to prepare a business plan, you must know the business you are entering inside and out. This means lots of research. Research comes in two forms: reading everything you can about

Some Phrases to Avoid When Talking to Clients

Financial advisors are industry experts who help clients plan their lives, their families’ lives and help achieve personal goals. However, any successful financial advisor knows that market knowledge and planning expertise are only a part of the job. The other part is relationship management skills.

At the end of the day, no matter how great of a financial advisor you are, clients will leave if they feel unappreciated — even if they’re making money on their investments. There are hundreds of thousands of financial advisors out there. Just take a minute and think about where your office is located. Are there other financial planning firms in the building, on the street or in the neighborhood? The answer is probably yes. The truth is clients have options and the question financial advisors need to ask themselves is, why would a client choose to do business with me over the next advisor? The answer is because they like you.

Clients want to feel like they’re your only client and that can be a hard task where there are phone calls to return, emails to answer and trades to place for other clients. It’s definitely a balancing act — one that has taken me several

Tips to Keeping Millionaire Clients

Almost half (45%) of millionaires would not recommend their financial advisor to friends or family, according to a recent survey by Fidelity Investments. That’s a big number.

It gets worse. Not only would clients not refer their financial advisor, the study actually found that 20% are considering firing them. As a Certified Financial Planner (CFP) that is hard to read because a portion of any good business development plan comes from client referrals.

What it Takes to be a Good Advisor
Running a successful business as a financial advisor has several moving parts. You have to be a knowledgeable investment specialist, help clients plan for the future with insurance and minimize losses with tax and estate planning. It’s a lot and that’s only the core component of your business.

On top of being a financial expert you also need to be a relationship counselor, a best friend and a therapist. Financial professionals are so much more than just advisors who manage money. At the core of your business you are relationship managers. When you manage someone’s financial well being you’re indirectly managing their life and over the years you develop personal relationships with clients. That’s why it’s hard not to let emotions get

Learn More About Small Business Tax Tips & Strategies

The 28 million small businesses in the United States account for 54% of all sales and provide 55% of all jobs in the country. If you own one of these small businesses, you already know that (despite what the Staples ads say) there’s no “easy” button when it comes to starting and growing your outfit. But there are ways to make it a little easier, as we hope these tips and strategies will do.

1. Only Connect
There are two good reasons to reach out to mentors and peers: One is the steep learning curve that comes with being a small business owner. Second, and equally important, being an entrepreneur can be lonely, especially in the early days when you might be working out of a basement or home office. Developing a network gives you a strong support system to lean on and draw from. In most cases, you’ll need other people’s help if you want to make it big. Another set of eyes can make a huge difference when it comes to making the right decisions for starting and growing your businesses.

2. Engage the Experts
Many small business owners try to save money by doing everything themselves – from web

Some Tips for Inheriting a Book of Clients

For those financial advisors lucky enough to inherit a retiring advisor’s book of clients it can often seems like a windfall. In fact, there is probably no easier way for an advisor to increase their business. But that doesn’t mean it’s time to book a celebratory vacation. In fact, there is a lot of work that goes into taking over another advisor’s client book. It requires patience, research, learning about new products and strategies, and time getting to know your new clients in person. Here are a few tips for those advisors that are handed the precious, but often time-consuming gift of another advisor’s accounts.

Take Time to Talk with New Clients
Just because an advisor handed you his or her book of clients doesn’t mean that it will be easy sailing from now on. In fact, many of your new clients may decide to jump ship and start from scratch with a new advisor. That’s why it’s important to spend ample time introducing yourself to your new clients and getting to know them on a very personal level. These new clients of yours are going to want to feel like they are getting your full care and attention.

It may also

Some Reasons That Make Small Businesses Fail to Grow

Running a small business requires superior problem-solving and an ability to look at the bigger picture. Aside from ensuring that your business turns a profit on a regular basis, you also need to be concerned with your own financial health over the long term. That includes having a strategy in place for building wealth, so you can enjoy a comfortable retirement once the time comes to hand over the reins of your business to someone else.

As an entrepreneur, there are certain hurdles you should be prepared for that can hinder your ability to create wealth. Here are four important challenges small business owners face:

1. Too Much Business Debt
Getting a small business off the ground typically requires a certain amount of cash. Taking out a term loan from a bank or a Small Business Administration (SBA) loan may be the answer, if you don’t have sizable savings you can tap into. With a 7(a) SBA loan, for example, it’s possible to borrow up to $5 million to establish a new business.

Even if you don’t need a loan to get started, that doesn’t mean your business will – or should – remain debt-free. For instance, you may decide to open a

How to Manage Clients’ Expectations

Managing client expectations is one of the most difficult – and often frustrating – aspects of the financial planning business. Although many clients can be quite reasonable when they lose money in their investments, there will invariably be a few who are determined to vent their frustrations at you, either via telephone, correspondence or in person. However, there are a number of things that advisors can do to help prevent most of these outbursts – and that’s by helping clients create expectations within the bounds of reality. It sounds almost too simple, but when clients are better educated about what they can expect from their investments – and their relationship with their financial planners – they are less likely to be outraged by things that are beyond the planner’s control.

Education: The First Line of Defense
As a financial planner or advisor, the first step before any type of investment is made is to educate the client. This is especially true when the client has had little exposure to investing. In fact, some clients may seek your services after they’ve heard of friends or family members reaping huge profits from a certain stock or other investment. Unfortunately, this type of client

Tips To Start a Seasonal Business

Do you ever wonder how these small businesses pop up seemingly overnight ahead of any major U.S. holiday? From costume stores capitalizing on Halloween to snow plows making money removing snow, there are endless types of seasonal businesses. Launching one may seem like a capital intense, complicated endeavor, but launching a seasonal small business is an achievable goal.

a. Make Sure There Is Demand
When it comes to launching a seasonal business, the first thing you have to do is research the market you are thinking of getting into. You want to make sure there is a need to be filled, and there is enough demand to make money. After all nothing can be more demoralizing than starting a business and having zero customers. It’s important to know if people would buy your product or service at your price point and to be aware of the competition. Let’s say you are thinking of launching a summer swimming school out of your backyard pool. Before you can print the business cards and get the website up, you have to see if there are people that want your service. Talking to people in your community can give you a sense of if there

Steps to Handle Your First Meeting with a Client

Money is an emotionally charged topic, so advising people on how to invest, what to spend and when they can retire can be a challenge. Perhaps the most challenging part is easing into the topics that need to be discussed. In this article, we will take a look at how to handle your first meeting with a client.

Set the Right Boundaries for the Meeting
In order to have an efficient and effective first meeting with your client, you need to set the expectations from the start. Rather than inviting the client to lead with what they want and what their financial goals are, it often works better to outline what you do and do not offer as far as services.

For example: “I’m an investment advisor and I specialize in helping clients allocate their portfolio between different financial products in a way that meets their investment goals without taking on unnecessary risk. I don’t do comprehensive financial planning dealing with insurance needs, estate planning, or anything beyond the investment side.” This helps the client narrow in on what, specifically, they hope to get from you and saves you from a lengthy discussion about other aspects you don’t help clients with.

Be Clear

How To Growing A Successful Business

To succeed in business today, you need to be flexible and have good planning and organizational skills. Many people start a business thinking that they’ll turn on their computers or open their doors and start making money – only to find that making money in a business is much more difficult than they thought. You can avoid this in your business ventures by taking your time and planning out all the necessary steps you need to reach to achieve success. Read on to find out how.

1. Get Organized
To be successful in business you need to be organized. Organization will help you complete tasks and stay on top of things to be done. A good way to do this is to create a to-do list each day – as you complete each item, check it off your list. This will ensure that you’re not forgetting anything and you’re completing all the tasks that are essential to the survival of your business.

2. Keep Detailed Records
All successful businesses keep detailed records. By keeping detailed records, you’ll know where the business stands financially and what potential challenges you could be facing. Just knowing this gives you time to create strategies to overcome

Some Tips for Lawn Care Businesses to Get Ahead

Warm weather conditions in the spring and summer often make it possible for lawn-care businesses to make decent money with little or no effort, especially in high-population residential areas. However, the lack of planning to grow their client bases and increase revenue on a consistent basis causes some lawn-care businesses to flounder once the weather turns. Here are a few lawn-care business tips to succeed year-round.

Launch a Robust Website
In the lawn-care business, a website that includes a blog is as important an investment as a lawnmower and a hedge trimmer, except a web presence is a lot cheaper to launch and maintain. Unlike fliers posted around neighborhoods that blow away or get destroyed by rain and snow, lawn-care business owners can publish content relevant to prospective clients 365 days a year if desired. Articles live online for as long as the website owner pays for the URL and hosting, which can help a lawn-care business attract customers even during the business’s low season.

A highly useful lawn-care website should also show a customized logo, clearly posted contact details including icons connecting to the company’s social networking profiles, and items to make the website “sticky,” such as a portfolio of the

Let’s Learn Some Signs If Your Business It’s Ready For Next Level

As a business owner it can be easy to think it is time to grow to the next level when you are overworked, running out of space and sales keep coming in. However these are not signs your business is actually ready to grow. The real signs that your business is ready for the next level has more to do with ensuring everything is in place for that growth to be sustainable.

When the seeds for growth are planted without the right foundations in place, future problems can impact profitability, culture and possibly even cause business failure. The following four issues are the real signs your business is ready to move to the next level without complication.

Corporate Structure & Financial Management

Having the right legal and financial structure in place is important to ensure that you and your business are protected while at the same time giving you the financial data to make smart decisions.

An example of legal issues to consider would be if you started out as a sole proprietor and grew the company to the point where you needed to add employees. At that point it may be prudent to consider the framework of your organization and create

Tips to Start a Seasonal Business

Do you ever wonder how these small businesses pop up seemingly overnight ahead of any major U.S. holiday? From costume stores capitalizing on Halloween to snow plows making money removing snow, there are endless types of seasonal businesses. Launching one may seem like a capital intense, complicated endeavor, but launching a seasonal small business is an achievable goal.

Make Sure There Is Demand

When it comes to launching a seasonal business, the first thing you have to do is research the market you are thinking of getting into. You want to make sure there is a need to be filled, and there is enough demand to make money. After all nothing can be more demoralizing than starting a business and having zero customers. It’s important to know if people would buy your product or service at your price point and to be aware of the competition. Let’s say you are thinking of launching a summer swimming school out of your backyard pool. Before you can print the business cards and get the website up, you have to see if there are people that want your service. Talking to people in your community can give you a sense of if there