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Further
Reading ...
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Road Map To A Healthy Stock Market - Charles Payne
At this point everyone has weighed in with theories on how to turn the stock market around. Even president Bush has come through with his three reasons the market is in reverse. As I’ve said before his insistence that the market is down in part to...
Small Business Credit Cards - Rob Mellor
Small Business Credit Cards So what do you look for when applying for a credit card for your small business? One thing is for sure, wasting money isn’t an option because it can make or break your business. Things to look for are low interest rates...
Learn How to Market Your eBusiness in Real Time: Dissect, Study, Emulate - Isaiah Hull
Everything you will ever need to know about internet marketing is plainly available to you everywhere you go on the internet. All you need to do is dissect, study, and emulate these methods and you invariably will become just as successful as the...
This is the Power of PR - Robert A Kelly
The power of public relations is its ability to alter individual perception, resulting in changed behaviors that lead directly to your organization’s success. Its power really lies in doing something positive about the behaviors of a business,...
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10 Tips To Help You Choose The Right Business
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Written By:
Kelly Lowe
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10 Tips To Help You Choose The Right Business
With so many opportunities available today, it is hard to decide which business is the right one for you. Choosing the wrong business can cost you both time and money, not to mention the loss of your hopes and dreams.
Use the following tips to choose the right business for you on the first try.
1. Make a list of your hobbies - Often hobbies can be turned into a business. You want to enjoy your business, so begin by making a list of the hobbies that you enjoy. Look at each item on your list, and determine which ones could realistically be turned into a business that you can start and operate.
2. Make a list of what you know - other than hobbies, there are plenty of things that you know about. Do you have a college education? Make a list of the things that you consider yourself to be extremelly knowledgable about. Do not list things that you have little interest in, or things that bore you. Look at this list and determine which of these items can be realistally turned into a business that you can start and run.
3. Make a third list from the information on lists one and two. On the third list, only write down the items that can be turned into a business that you can realistically start and run.
4. Loving what you do isn't the only thing to consider when choosing a business. Other people must also love what you do, or need the result of what you do, or you won't have any customers. With your final list, start doing some research. Begin at http://www.overture.com. Click on "Advertiser Center" at the top of the page. Using the Keyword Selector Tool, type in keywords for the businesses you are considering. How popular are those words? Are people already looking for what you can offer them? If your business will be an offline business, what is the need for what you can offer in your community? It is important to have this information before investing time and money. Mark off the items that are not popular, or are not determined to be needed.
5. With the potential businesses left on your list, work up an estimated cost to start and operate each one for the first three months. What is your budget? How much money can you afford to spend on your new business. Remember to add in costs for advertising. You should also consider the costs for your personal/living expenses if you do not have another source of income. Which businesses can you actually afford to start? Is financing an option? Mark the businesses that are no longer realistic off your list.
6. Make new lists for each of the businesses that remain on - continued below ...
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your list. You need to know what is required to start and operate each business. You need to know everything. What equipment will you need? How will you advertise the business? What space is needed? How much start up money will you need? What are you local and regional requirements for running a business from your home? How much money should each business realistically earn each year? Make a list of questions, and answer those questions for each of the businesses remaining on your list.
7. How much time are you willing to invest in your business? Look, realistically, at the time requirements for each potential business on your list. Are you willing to put in the required time?
8. Locate people who are in the businesses that are left on your list. Find a way to talk with them. Find out what all the pitfalls are, and how to avoid them. Learn as much as you can from them about how they started their business, what it took, from a financial and time standpoint, and what they have done to make their business succeed. It is not a good idea to choose a competitor for this research. Either choose someone who would not be considered a competitor, or don't let them know that you are a potential competitor. Make the call or arrive at the meeting armed with a list of questions to ask.
9. Think about the remaining potential businesses on your list. Think about each one individually. Imagine yourself taking the steps necessary to start up each business. Imagine yourself running each business. Which ones feel right? Which ones feel wrong? Your gut instinct should never be ignored. With some businesses, redundancy can become a problem. Will you get burnt out doing the same tasks over and over? You need to think long and hard about your options, your personality, your likes and dislikes, etc.
10.With all of the information you have gathered in your research, you are finally in the best position possible to choose your new business. So, simply make a choice...but don't throw your list away. You may want to try one of the other possibilities in the future - after you've made a success of your first home business!
For More business ideas, look through the free work from home database maintained at http://www.onlinebusinessbase.com
About the Author
Kelly Lowe is the owner of Online Business Base at http://www.onlinebusinessbase.com . She coaches those who wish to become home business professionals. She is also a professional freelance writer. She manages a database of business ideas and opportunities on her website as well.
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| _Additional Resources ... |
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Are Homeowners Due A Refund - Thad Collins
According to U.S. Government Auditors more that 45% of all home mortgages and 75% of home equity loans contain miscalculations or errors in favor of the lender. These errors are costing homeowners to be overcharged billions of dollars per year,...
Real Estate Investors And The Internet - Mark Walters
The Internet is a powerful marketing tool, but just how can a real estate investor make the best use of Web pages? We've spent some time experimenting with Web sites and we've found a couple of ways that they can be useful. First.. we just don't...
Important Information For Condo Buyers - Sheldon Salnick
Here is a step by step guide for buyers looking to buy a condo in any area. These are important tactics to make a solid and accurate judgement on the property you're looking to purchase. - When purchasing a condominium make sure that you ask...
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