Many internet gurus don’t find the need to like what you’re selling. They figure you’ll find a way to like it once it begins bringing in income. On the contrary, I believe that since this business venture may take up to 80 hours of your time weekly, a general passion is needed. Moreover, all of your content, web design and networking will be consumed by this product or products so you need to be an expert or at least have a general knowledge to get you through the day. Believe me when I say your customers know the difference from an expert site or a site that is simply trying to take their money. The easiest way to find your selling passion is to list your interests and goals and go from there.

When my husband and I started our first internet business we were starving actors with two Chihuahuas that consumed our lives. We loved to pamper them but in NYC our feeble actor’s salaries could barely buy them scarves. We would walk into boutiques and were overwhelmed by the prices. Then it hit us in the face. We could sell quality boutique style dog clothes online.

When we … Read the rest

In keeping with the theme from my last article, this week I wanted to discuss another important aspect of starting your own business. This one, however, may be even more controversial than last week’s post because it will probably feel like I am attacking your family; particularly, I am about to attack your baby and it’s not gonna feel good.

Being an entrepreneur myself, I know the pride that comes with starting your business or creating your product: seeing your logo on a sign, seeing reviews on social media, reading your awesome title on a business card out loud. Owner. President. It’s as good a feeling as having your kid become POTUS.

BUT I am about to take that business card and rip it into hundreds of little pieces right in front of your face. Well, not me but I’m gonna ask you to do it. Go ahead – try it.

How did that feel? I bet it was a devastating feeling. But as an entrepreneur, you’re gonna need to get used to it, but not always for negative reasons. Let me explain.

My first business was a tanning salon. Yes, I actually sold sunshine in the Sunshine State. I … Read the rest

Grants for Small Business

A grant is a direct financial contribution made by certain organizations to the needy. It is made for very specific outcomes with no expectations of repayment. These grants are based on certain criteria and are designed to encourage entrepreneurs to start or expand their small business ventures. Millions of dollars in the form of small business grants are available for any minority group of Americans. They may be African Americans, Asian Americans, Hispanics, Indian Americans or any other minority.

Minority Grant Programs

Government minority business grants are listed on all the government grants assistance programs. They allocate funds for lending to minority entrepreneurs, student business training, unemployed, community-based business opportunities, real-estate ventures and investment, research work and inventors, amongst others. A woman entrepreneur or an ethnic minority is entitled to funds specially earmarked for their business development.

Any entrepreneur seeking the fund for any type of business or any personal project must have a viable business plan. They should focus on how well their business would survive independent of these programs. Eventually, your aim should be to build a successful business. Have some sort of maturation plan in place to succeed without minority funds within three … Read the rest

Well, in a layman’s language, we can say it is simply selling the products in overseas markets. But, this option of expanding the business is not as simple as it seems. It demands time, money, efforts and an intensive research. Rather, research is the most important and basic sought after aspect for entering into a new market.

Now, you must be thinking what kind of research is required when you are already in the business and you just want to sell your product in a foreign market. Think again. You will find that the foreign customers have different tastes and preference, different lifestyles and altogether a different culture. And due to all such and many other reasons, a wide as well as rigorous research is required.

If you are planning to export your goods at the international level, the research should answer questions like:

• Who are the potential consumers and what are their preferences?
• Who are the competitors and what kind of products and services they provide?
• What is the political and economic system of the country in which you want to explore new market for your product?
• What kind of rules and regulations you may have to face?
• What

Lead Generation Systems – Lead generation systems come in a variety of formats. The most basic is a list of candidates that can be obtained from a list broker. Then there are qualified lead systems that funnel information from individuals who have inquired online. And finally, there are complete lead generation systems that include step-by-step training delivered in workbook and video format. Choose a system that has proven results for your niche and that can be easily integrated into your loan flow. When using lead generation systems keep the compliance guidelines referenced in section two in mind.

Networking – Networking has always been a great way to drum up business. You can begin with your own circle of influence (family, friends, and colleagues) and branch out from there. Take advantage of opportunities to participate in activities that will allow you to connect with your niche. You can also form a joint venture with another professional.

The Internet – The Internet is the fastest and most affordable vehicle for getting the word out about your service. You can accomplish this in a variety of ways:

• Setting up a website and submitting your site to popular search engines
• Advertising with online news

It is recommended that you give your business a legal structure by consulting an experienced attorney who could guide you regarding the kind of entity that is best suited as well as in getting all necessary licenses and permits to begin operations legally.

You will also have to select an appropriate business name that has been formed in compliance with applicable state laws.

Adequate insurance coverage is recommended from a reputed agency.
Extensive market research and competitive analysis are ideal ways of knowing all that you can about the business and the factors that influence it. Studying and analyzing the competition will give you an idea of how to operate as well as think of ways you can gain a competitive edge.

Have a well-drafted business plan with clearly defined target goals and the strategies to be used in achieving them. The plan can be used to measure if the business performs as expected, and novices can use the plan to carry out the daily operations.

It is essential to estimate the start-up costs and get the necessary finances to fund the start-up. Have a well planned loan application ready to convince loan officers to grant you the loan.

Figure … Read the rest

Your business is your domain and you can decide how to operate it. The working style, choice of product, the people you intend to work with and all other such decision are completely left to you if you plan to start up your own technology businesses. Here it is essential to remember that the most crucial component is precise knowledge of the field you intend to specialize in. The finances can be taken care off through the various loan schemes introduced by the states especially in the specified sector, provided if the plan is promising. Small-scale businesses are even more preferred in the domain of financial assistance.

The most essential ingredient for any businesses is a strong base plan. The concept in a more realistic form i.e. supported by numbers and figures refers to a plan. Before starting up a new technology business, one must work out the key factors entailed. For instance, many professionals make the mistake to introducing an excellent product to a wrong target segment or the product is not positioned among the target segment to grab the deserved part of attention, which invariably leads to failure. Therefore, before starting up the actual operations sit and plan … Read the rest

It was a truly impressive display of planning your work and working your plan. Here’s what I saw:

• It started with my daughter’s personal vision for her perfect wedding. (A long-range vision.)
• Then, she started making lists and putting her thoughts down on paper. (Establishing goals and written plans.)
• This, in turn, led to Katie asking various people (including me, but especially my wife Joyce) to handle assorted aspects of the operation. (Delegating – Assigning specific tasks to specific people with specific timeframes and outcomes.)
• Katie followed up with the people involved and on the planned activities to ensure all was proceeding as expected. (Using Key Performance Indicators to measure progress and success.)

I saw a potential lesson for small business owners. What if a small business owner planned and managed his or her business this way? Now, I know that this is not a perfect analogy. A wedding is a one-time event, and a business runs continuously. I understand that. But isn’t there something to be gleaned from such an example? For the most part, entrepreneurs know what needs to be done. The shortcoming isn’t in the knowing; it’s in the doing (or not doing.)

Suppose Katie had … Read the rest