Categories
Business Ideas

Small Business Ideas You Can Invest In

Most people want to be their own boss. The appeal of being a master of one’s own destiny, combined with increased pay, offers definite advantages. The problem is that, all too often, it is not possible to start a small business without exposing oneself to a large amount of risk. Moonlighting can cause one to get fired or, alternately, do two jobs poorly instead of one job well. Additionally, starting a small business tends to be very expensive, and thus it is difficult to get enough credit to start one. There is also the massive financial risk should you fail.

Therefore your best option is to go into one of many tried-and-true small business models which minimize both your financial and time investments. This will give you time to learn the business and the nature of the market in addition to minimizing risk. The best way to do this is to invest in businesses which are coin operated and revolve around machines, since this eliminates much of the need to deal with customers and employees.

One of the most solid coin-operated businesses is the laundry. Every person needs to do their laundry on a regular basis, and many rental houses, apartment complexes and other properties are not have on-site laundry facilities. Additionally, by slightly under-pricing the machines in nearby rental properties, you can draw business towards you. Laundries require regular cleaning and maintenance, but with proper care and solid efforts to satisfy your customers, the business will succeed and expand.

The somewhat hands-off nature of the business also encourages multiple small investors to join up and participate jointly, since it ensures no one can be accused of “shirking” their duties while still enjoying profits from the investment. You can even increase the profits of your laundry by adding a few video games, vending machines or other coin-operated devices.

Another solid coin-op business is the car wash. Many vehicles are too big or too complex to be easily washed at home, or require special and expensive equipment to wash it right. Coin operated car washes, which are either fully automated or self-serve, require more maintenance than laundries (and also have various environmental concerns) but offer potentially more profits. Like laundries they can be distributed among a pool of investors who work together to maintain it and collect the money, and it requires a minimum of employees. This makes it a good first investment.

One last coin operated business that is useful is the leasing of vending machines. It is very easy to buy vending machines online and they can be delivered right to the location where they are leased, thus eliminating much of the need for storage space. Vending machines need to be reloaded and have the money removed on a regular basis, but often it is possible to do this yourself or with very few employees. Most companies no longer own and stock their own vending machines but lease them instead. This offers substantial profit potential while minimizing overhead and initial investment, since you can start with a dozen or so machines and then expand over time.

Article contributed by Jenna Smith

Categories
How-To Guides

How to Build Your Email List with Any Marketing Strategy

I usually focus on the “whys” of building an email list, but today I thought I’d focus on the how. Building an email list requires marketing, and the primary function of marketing is to drive visitors to your website so they can sign up. And once you get to this point, it’s time to put the “Know, Like and Trust Factor” into action.

Here are a few useful ideas for building your email list.

1. Make it as easy as possible. The best way to make signing up easy is to include a signup box on every page, and it’s best to have the box on the same location throughout your site. Include a brief call to action so that your visitors will know exactly what they get.

2. Keep it simple. Many small business owners make the mistake of asking for too much information in their email list signup forms. With every piece of information you ask for, you increase the chance that the person will just surf away without signing up. So start with the bare minimum-name and email address-and ask other questions later.

3. Have a good squeeze page. When arriving at a website through one of your online marketing channels, most people make the decision to stay or go within the first few seconds. Design your squeeze page with this in mind. Make it clear and simple so your visitors are easily oriented. Include only one call to action.

4. Have an irresistible offer. If you are offering the visitor something, make your offer clear and results-oriented. Remember, people aren’t going to be concerned about who you are or your process. They mainly want to know what value they will receive. That’s what will compel them to take action.

5. Put your offer in your email signature. Make sure all the emails you send out include a link back to your landing page. Include the link in your email signature along with your compelling offer. This way, everyone you reach out to will have a clear understanding of what you offer.

6. Provide genuine value. No one wants to receive an email or newsletter that is short on actual content, so be sure to pack your mailing with useful things. I like to recommend the 80/20 rule. Basically, 80% of the content of your email or newsletter should be pure content with no sales or calls to action. The other 20% is reserved for your sales pitch or call to action.

7. Ask your subscribers to forward. A newsletter is all about building business. Your current clients already know about the value of your content, but what about new people? A good way to bring in new subscribers is to recommend that your current subscribers forward your email to others, especially if they find it helpful.

8. Use an opt-in box with your contact form. If you have a contact page on your website, be sure to make it very easy for anyone contacting you to sign up for your newsletter. Odds are good that if they’re reaching out to you, they probably want to be included on your list.

9. Monitor your unsubscribe rates. Many business owners like to ignore their unsubscribe rate, but it’s actually a useful stat to follow. If you think you are providing great content but your unsubscribe rate suggests otherwise, then it’s time to make some tweaks. Doing so quickly can limit any damage.

10. Remind subscribers to confirm. With permission-based marketing, subscribers need to not only sign up but also confirm their subscription by clicking a link in their email inbox. Most people will have no trouble with this, but it helps to provide a reminder. Send every person who signs up to your list to a thank you page that reminds them they’ll need to confirm their email address. This will increase their likelihood of following through.

If you have all these steps in place, then it’s time to move on to the marketing phase of your promotion.

Categories
Starting Up

Common Issues and Steps Many Small Business Owners Overlook

Article Contributed by Maria Foster

You’ve gone over every aspect of your business plan, have the capital in place and rented a space. Now all that’s left is to flip the “Open” sign and begin your dream of becoming a successful small business owner. Fast forward one year later and that initial enthusiasm has been replaced with apprehension, stress and an overwhelming urge to jump ship.

If this is your present dilemma, it’s important to realize that the majority of small businesses fail within the first few years; one of the main reasons is improper planning and follow through on the original goal. Here are a few of the steps several small business owners overlook, and why it’s critical to understand that when it comes to your money and future, every decision matters.

Deviating From Your Original Business Plan, and Budget

You spent months formulating a rock solid business plan, and determined the capital required to keep the doors of your business firmly opened for an entire year. As the months passed, and your business began to evolve, you decided to deviate from the original business model, and start shifting money around, or even spending more on certain areas. While it’s inevitable that your original model will require tweaking as your business begins to develop, it’s never a good idea to complete abandon your original goal. This includes the amount of money you allotted for marketing, employee wages, rental costs and the other dozen expenses you’ll pay each month. In the end, sticking to your original plan and keeping your finances in control, no matter if you’re earning more than you expected, will always help you achieve success.

Marketing Your Businesses

It’s not that the majority of small business owners completely overlook this step; it’s just that most go about it in the wrong way. For instance, you’ve spent a large chunk of your start-up costs creating a dynamic logo, designing an eye-catching press packet and thousands of business cards. Fast forward six months later and the business cards are obsolete because you’ve moved, the logo doesn’t fit with the direction of your company and those press packets were quickly thrown into the trash. Marketing your business is a constant process, so keep this in mind before investing too much of your capital into the initial push to promote your goods or services.

The Hiring Process

No matter if you’re hiring several hundred, full-time employees or two people to help with overnight stocking; there are several potentially costly legal ramifications if you don’t adhere to your state’s labor laws. If you’re unable to adequately meet the responsibilities of hiring employees, consider using independent contractors to fulfill your temporary or permanent staffing needs.

Credit Card Processing

As your company grows or you decide to venture into the world of online sales, you’ll eventually require the services of a reputable credit card processing company. Many small business owners don’t do their homework or realize they have options when it comes time to process their customer’s credit and debit card purchases. Before making any firm commitments, shop around for the best rates.

Overlooking the Benefit of a Great Accountant and Lawyer

Five years ago it would have been unthinkable to start a small business without the assistance of a lawyer and accountant to finalize any legal documents, and make sure your capital and profits were being handled correctly. The advent of user-friendly software has all but eliminated the need for these professionals, however, don’t discount their services. Starting your small business is a complex undertaking that involves ensuring your file the correct governmental documents, pay the correct taxes and even trademark your brand. A highly skilled lawyer will help ensure all of your Ts are crossed, I’s dotted and you’re able to legally begin offering goods and services to the public.

If you’re starting a small business, and aren’t sure which direction to take, it never hurts to seek counsel from a successful business owners in your area. He or she will help guide you in the right direction, and provide you with valuable, real world information that is only available for someone whose survived the pitfalls and perils of starting a business themselves.

About the Author:  Maria Foster is a successful small business owner. She suggests to click here to explore some of your own small business options.

Categories
People & Relationships

Starting a Niche Business? Make Sure You Know The Community

Enterprising entrepreneurs know that a successful start-up business offers a service or product that fills some sort of gap in demand. Most new companies, after all, cannot compete head to head with large firms unless their product is distinct and unique, in some form or another, utilizing custom software design or customized tools of some variety.

Consequently, it is no surprise that many entrepreneurs find themselves entering niche industries with a niche consumer base, at least when they first get started.

There are many benefits to working in a niche industry. It is often easier to know and target your demographic base. Even new businesses can more accurately forecast sales, advertise correctly, and tailor the specifics of their product or service when they are entering a niche industry.

At the same time, though, there are some key drawbacks. The industry might be hard to break into. Your potential consumers may already be deeply loyal to another brand, even if your product does offer a unique position or superior quality. And, of course, the consumer base many be very small–sometimes not even fully existent yet.

What both these benefits and drawbacks have in common is one key thing: the element of community. Niche products usually target niche buyers and are a part of niche industries, all of which means that all this specialization probably yields a pretty cohesive community of potential buyers. Whether the product is a special shoe for rock climbing, a laundry service for bankers, or a new mobile app, you’re dealing with a market that is likely not just limited in size but also is highly interconnected on several levels.

Knowing the community can provide you access to all the aforementioned benefits of working in a niche field. Not being able to adequately permeate it, conversely, may render your new business plagued by all of those drawbacks.

With this in mind, it behooves the entrepreneur to consider their potential access – or lack thereof – to a niche community before starting a business and rolling out a new product. This does not mean that, as the entrepreneur, you need to be part of the community yourself. But your business model should be understood by your clients and you should possess the ability to reach the publications, websites, and social media that your target demographic values most.

There are many ways to go about doing this. Still, an entrepreneur may be best served to work within a niche community he knows best. Doing so offers an already-existent structure through which to go about connecting with the most important consumers and players in the industry. More concretely, it probably means you have friends and associates out there who know what you need, and furthermore who know people that can help you reach those objectives.

In some industries it is not only beneficial but necessary to understand your niche community. For example, if you’re improving upon an already established technology or service you need to be aware of all feedback from the community. You can’t develop a proprietary system without understanding what has worked and what hasn’t worked in the past.

This will also ensure that your company has an immediate familiarity with every aspect of the process. Anyone can have a great idea, even if they have no connection to a particular service or industry, but it takes that familiarly to most successful see the idea through.

So when you’re looking to start or expand your business, create or market a new idea, make sure not to lose focus on the importance of niche community. It’s a powerful concept in the entrepreneurial world – and, no doubt, you’re going to want to penetrate it.

Article contributed by Jenna Smith

Categories
Success Attitude

How Easily Do You Give Up?

When you want something do you really go for it or do you come up with reasons why you can’t have it?

Do you convince yourself that something is impossible before taking one step to find out whether that is true?

And if you do take that first step do you take the next one and then the next?

Working with thousands of people over the past 25+ years I have learned quite a bit about why people do what they do.  And I have learned a lot about my own excuses, fears, and self-sabotage behaviors.

This is the journey we are all on; a journey of liberation from the mind and emotional suffering to align with our soul , our higher self, and the Divine presence within us.

I know some folks never even take that first step because they have already talked themselves into impossibility thinking or feel they are undeserving.

And some people will take that first step and never follow though if they receive no response or think they haven’t heard back.

Follow up is critical. If you want something, you have to be willing to go the distance and do things even if it is uncomfortable.

When I want something badly enough and feel that intuitive guidance to take that next step , I can still get caught up in those old emotional entanglements that can hold me back in fear and questions of self-worth

That a signal for me to stop, take a few deep breaths, bring myself back into the present moment, and call out to the Divine Presence to be with me.

Within a short time, sometimes a few seconds or minutes, I can feel the heaviness lift, my mind clears,  and I feel more connected inside.  Doing the inner work has shown me how to shift from inner chaos to a calm inner center.

Taking action with God by your side is pretty powerfull! Miracles begin to happen that is not solely dependent on your hard work!

When you want something badly enough you have to be willing to put consistent energy into following through. You must be willing to do whatever it takes to have what you are yearning for.

You must be willing to see life though a different lens; one that shows you that perceived obstacles are stepping stones and pathways to your dreams.

You have to be willing to be vulnerable, look and feel silly, make mistakes, or feel scared to create the life of your dreams. It also takes commitment, passion, and tenacity to persevere.

And you must be willing to let go of the thought patterns and beliefs generated by your EGO that keep your separated from the deeper truth of who you really are and the Presence living in you and through you that wants your life to be abundant and happy.

Life is a journey of faith, trust, and courage to boldly go where you have never dared to go before when you know in your heart you must take that next step.

If you have a quick “impossibility’ response and you allow that belief to rule your life, you will continue to miss windows of opportunities that open and close that may end up as regrets.

I know life can get busy, distractions happen, and all sorts of other reasons contribute to things falling through the cracks. We are human!

For example: I schedule reminders into my Outlook email program so I don’t have to keep things in my head. I usually respond to requests within 48 hours so they are off my plate. And when something is really important to me, I am very persistent.

When I was applying for a loan modification for my townhouse, I must have made 25 calls over a 3 month period to get the ball rolling and did everything needed to complete the process. And believe me – some of the actions I needed to take were not fun!

The real question is, “How badly do you want something and what are you willing to do or be to have it?”

Do you believe everything you think?

Do you make assumptions and accept them as truth without challenging your beliefs and conclusions? If you said yes, how often are you wrong?

If you had a negative experience in the past, do you expect the next situation to be a repeat? Watch those self-fulfilling prophecies – you powerfull Creator!

Life calls you to show up and claim what is yours.

Do you hear your call?

Are you listening and following your guidance?

My friend Brent says many people give up 5 minutes before the miracle happens.

Some give up waaay before those five minutes.

Life is meant to be experienced and lived, not witnessed as a spectator.