Reason #5…Too much Competition!
Have you ever used this as a reason not to build a business of your own…There’s too much competition for what I do? Interesting reason for not moving forward, this one really borders on an excuse if you ask me.
If you have used this as your reason not to start your own business let me ask you a few questions:
*Do you have a passion for what you wanted to do?
*Have you checked out what “The Competition” is doing today?
*Do you still have any competition?
*What can you offer that is a little different, better than the competition?
*Is there a different target market/niche for you?
*Can you build a better mouse trap?
The amazing part of this particular reason is that in most cases 70% to 95% of your competition no longer exists. This is why I ask have you checked the competition out recently. I believe that this reason has a strong link to fear, if we are afraid to step out it is easier to blame the competition than give it a try.
Your competition may not have taken into consideration the new economy, the new needs or shifts in the target market which may have them missing the bulk of the business. The key to this is to:
*Establish your target market
*Know there needs (current)
*Define what makes you different/unique
*Be aware of what the competition is doing
*Discover how the competition reaches their market
*Understand the “New Marketing”
If the competition begins to be more competitive; stay on top of your plan, know the needs and be willing to redesign your mouse trap if needed to remain on top of your game. The competition only beats you if you roll over and play dead, play hard & fair with integrity and you will have the better mouse trap!
Thursday, July 30, 2009
Why People Do Not Start a Business Today, Reason #5 Too much Competition!
Why People Do Not Start a Business Today, Reason #4 I Don’t Have Any Support!
Reason #4…I Don’t Have Any Support!
You have come up with a fantastic new business idea and you are ready to launch forward onto an amazing new journey, then all of a sudden you hit the breaks and come to a complete stand still. What happened you say to yourself as you look around and see nothing but the dust cloud you created by hitting your breaks so hard?
You were so excited about your new adventure; you shared it with your family at the weekend BBQ and at the top of his lungs Uncle Ed shouts out, “Are you nuts, you will never be successful doing that just get a new job!” The BBQ becomes deathly quiet as everyone looks to you for a response, as you slither away never to mention your dream again. Have you been there?
So many people give up just before they are truly successful, most cases they quit the day before it all was to happen. The key to overcoming this particular reason for not starting your own business is to surround yourself with a coach or mastermind group that will encourage you and keep you focused on the right track.
There is an old saying, Beware with whom you share your dreams with as some are there to only steal your dreams. The dream stealers are those like Uncle Ed in the story above; perhaps they really care and don’t want to see you get hurt. In most situations like this it is usually because they are jealous or envious of your ambition, they wish they could do what you are doing. The easiest way to make yourself feel better is to make someone else hurt or discouraged. I do not believe this is usually an intentional behavior, never the less it is a real reaction to someone stepping out of what is considered to be the norm.
Understand this; you can do anything you set your mind to do, if you have a passion for it. Develop a working group/support group that you meet with weekly on the phone or for coffee, allow this to be your place to share. As you grow and become stronger & more focused you may be able to cut the meetings back to bi-weekly or monthly. This is another reason to hire a Business Coach, as they will assist you in staying focused, reaching your goals & objectives, and being your personal cheerleader as you move through your journey.
Do not feel bad that you do not share your dreams with everyone, there will be a time & place to share with them when you are stronger and more focused on your road map to success. If you have found this to be your reason not to start your dream business time to pick yourself up, dust yourself off and move forward. Remember if you want it bad enough nothing will be able to stop you.
You have come up with a fantastic new business idea and you are ready to launch forward onto an amazing new journey, then all of a sudden you hit the breaks and come to a complete stand still. What happened you say to yourself as you look around and see nothing but the dust cloud you created by hitting your breaks so hard?
You were so excited about your new adventure; you shared it with your family at the weekend BBQ and at the top of his lungs Uncle Ed shouts out, “Are you nuts, you will never be successful doing that just get a new job!” The BBQ becomes deathly quiet as everyone looks to you for a response, as you slither away never to mention your dream again. Have you been there?
So many people give up just before they are truly successful, most cases they quit the day before it all was to happen. The key to overcoming this particular reason for not starting your own business is to surround yourself with a coach or mastermind group that will encourage you and keep you focused on the right track.
There is an old saying, Beware with whom you share your dreams with as some are there to only steal your dreams. The dream stealers are those like Uncle Ed in the story above; perhaps they really care and don’t want to see you get hurt. In most situations like this it is usually because they are jealous or envious of your ambition, they wish they could do what you are doing. The easiest way to make yourself feel better is to make someone else hurt or discouraged. I do not believe this is usually an intentional behavior, never the less it is a real reaction to someone stepping out of what is considered to be the norm.
Understand this; you can do anything you set your mind to do, if you have a passion for it. Develop a working group/support group that you meet with weekly on the phone or for coffee, allow this to be your place to share. As you grow and become stronger & more focused you may be able to cut the meetings back to bi-weekly or monthly. This is another reason to hire a Business Coach, as they will assist you in staying focused, reaching your goals & objectives, and being your personal cheerleader as you move through your journey.
Do not feel bad that you do not share your dreams with everyone, there will be a time & place to share with them when you are stronger and more focused on your road map to success. If you have found this to be your reason not to start your dream business time to pick yourself up, dust yourself off and move forward. Remember if you want it bad enough nothing will be able to stop you.
Why People Do Not Start a Business Today, Reason #3 Security
Reason #3…Security
Continuing to explore the challenges holding people back from launching their own business takes us to the topic of security. We want to know it will be okay, we will be safe and taken care of so we cling onto the JOB (J=Just, O=Over, B=Broke) hoping it will provide our security needs.
However, today this may be a false sense of security with companies that have been around forever shutting their doors, relocating to a new state or cutting back staff. We are offered no guarantees in today’s job market and in many instances we do not know if tomorrow holds the promise of a paycheck. I have spoken to numerous people that are living the “what if”, the unknown of their security and waiting to see what happens.
As Robert Kiyosaki stated in his book “Rich Dad, Poor Dad”, by continuing to work for corporate America all we do is provide wealth for the corporations, we are given no guarantee that our retirement is secure. Basically if we rely on corporate America to continue to be our source of income for our families all we will do is make them richer.
Let’s look further back in our history at the founding of America, were we founded by large corporations & foreign companies, NO! America was founded by entrepreneurs like you and I. According to Gerald Gunderson’s study entitled The Founding Entrepreneurs: America’s Prosperity, “While it is not difficult to understand that entrepreneurs have created many improvements in the course of American history, it can be surprising to learn that they actually "founded" the U.S. economy”. Perhaps America is going back to the day when the entrepreneur and small business generated the growth and profitability in our Nation.
As an entrepreneur you have the freedom and capability to make the changes necessary for growth eliminating the bureaucratic red tape encountered in the corporate setting. Your success or failure depends on you not a supervisor or company that is only looking out for themselves. You create your security because you will never fire or lay yourself off, you will fire yourself up and find new innovative ways to grow your dreams.
So if we look at the reality of today, there is no security in a job. A job gives one a false sense of security for the moment, when that moment is gone then what. Be proactive and start planning today for your security and future.
Continuing to explore the challenges holding people back from launching their own business takes us to the topic of security. We want to know it will be okay, we will be safe and taken care of so we cling onto the JOB (J=Just, O=Over, B=Broke) hoping it will provide our security needs.
However, today this may be a false sense of security with companies that have been around forever shutting their doors, relocating to a new state or cutting back staff. We are offered no guarantees in today’s job market and in many instances we do not know if tomorrow holds the promise of a paycheck. I have spoken to numerous people that are living the “what if”, the unknown of their security and waiting to see what happens.
As Robert Kiyosaki stated in his book “Rich Dad, Poor Dad”, by continuing to work for corporate America all we do is provide wealth for the corporations, we are given no guarantee that our retirement is secure. Basically if we rely on corporate America to continue to be our source of income for our families all we will do is make them richer.
Let’s look further back in our history at the founding of America, were we founded by large corporations & foreign companies, NO! America was founded by entrepreneurs like you and I. According to Gerald Gunderson’s study entitled The Founding Entrepreneurs: America’s Prosperity, “While it is not difficult to understand that entrepreneurs have created many improvements in the course of American history, it can be surprising to learn that they actually "founded" the U.S. economy”. Perhaps America is going back to the day when the entrepreneur and small business generated the growth and profitability in our Nation.
As an entrepreneur you have the freedom and capability to make the changes necessary for growth eliminating the bureaucratic red tape encountered in the corporate setting. Your success or failure depends on you not a supervisor or company that is only looking out for themselves. You create your security because you will never fire or lay yourself off, you will fire yourself up and find new innovative ways to grow your dreams.
So if we look at the reality of today, there is no security in a job. A job gives one a false sense of security for the moment, when that moment is gone then what. Be proactive and start planning today for your security and future.
Why People Do Not Start a Business...Reason #2…But….Money??
You’ve been sitting at your desk worrying if your job is secure. You’ve been sitting at your desk dreaming about starting a business. You wake up wondering what it would be like to work in my PJ’s. So what is stopping you from exploring this what if?
I can’t start a business I don’t have any money to do that! This is one of the top 5 reasons individuals never pursue their dreams & passions of starting a business. So today we are going to expose some of the myths to the financial side of starting a business.
The concept of starting a business used to mean months of reserves in the bank, strong credit, a physical building and a lot of money out of your pocket. Today the opportunity is much simpler to obtain, less costly and much more fun. With the invention of the internet small businesses & corporations have been able to generate thousands of dollars without leaving their home or place of business. The most challenging part of launching a business today is determining what kind of service or product you will provide.
There are SBA (Small Business Association) Loans available to you if you qualify, however keep in mind those have to be paid back and can not be written off if something was to go wrong. It is harder today to qualify for a SBA loan than in previous years and in some cases the interest rate may not be worth the convenience. My suggestion identify places where you may be spending excess and apply those monies to your new business, for example; spending $200.00 on a new purse or shoes or adding $200.00 to your new business, your call.
The cost to start a business today can run as little as a couple of month’s worth of Starbucks & lunches! Yes you read it right if you spend $4.00 a day on a cup of coffee (x 31) and $8.50 a day on lunch (x 31) you could launch a business! This is basically the cost of a website to get you out in the web. Additional things you might want to consider:
Hiring a Business Building Expert Coach to help you move forward effectively & rapidly:
I can’t start a business I don’t have any money to do that! This is one of the top 5 reasons individuals never pursue their dreams & passions of starting a business. So today we are going to expose some of the myths to the financial side of starting a business.
The concept of starting a business used to mean months of reserves in the bank, strong credit, a physical building and a lot of money out of your pocket. Today the opportunity is much simpler to obtain, less costly and much more fun. With the invention of the internet small businesses & corporations have been able to generate thousands of dollars without leaving their home or place of business. The most challenging part of launching a business today is determining what kind of service or product you will provide.
There are SBA (Small Business Association) Loans available to you if you qualify, however keep in mind those have to be paid back and can not be written off if something was to go wrong. It is harder today to qualify for a SBA loan than in previous years and in some cases the interest rate may not be worth the convenience. My suggestion identify places where you may be spending excess and apply those monies to your new business, for example; spending $200.00 on a new purse or shoes or adding $200.00 to your new business, your call.
The cost to start a business today can run as little as a couple of month’s worth of Starbucks & lunches! Yes you read it right if you spend $4.00 a day on a cup of coffee (x 31) and $8.50 a day on lunch (x 31) you could launch a business! This is basically the cost of a website to get you out in the web. Additional things you might want to consider:
Hiring a Business Building Expert Coach to help you move forward effectively & rapidly:
a. Cost around $1200.00 for 8 sessions
b. Banner or logo design for marketing
c. Product (E-Books & CD’s cost of production $50.00 per hour) or products such as consumables would vary depending on supplier.
d. Business Cards (Vista Print will give you 250 for free, you only pay shipping) or print them at home for the cost of toner & business card stock. Many printing companies will print simple one sided B&W cards for as little as $29.00
e. Be sure with your website you own it and can modify it
Email address: DO NOT USE A YAHOO OR GMAIL OR HOTMAIL email, you need to be professional. Most hosting sites for your website offer a free email package so your email will match your website.
You want to be sure you are presenting yourself in a professional manner even if it is just you working on your bed with a laptop! If you do it right up front you will not have to try and mend things later, build a strong reputation from the beginning and you will be amazed what can happen. Now you are ready to begin the amazing journey to being an entrepreneur! Even if you did everything listed above (which is strongly suggested) you would have only spent about $2,000.00 to start your own business (minus product), so where can you add this to your current budget and eliminate Reason #2 for not starting your own business.
Why People Do Not Start a Business...Reason #1…But…I am afraid!!
The top, number one reason individuals do not start a business is fear. As humans we are afraid of the unknown, we are afraid of failing, we are in some cases afraid of success. Fear is a very powerful emotion/feeling that can leave a person paralyzed, unable to move forward and at the same time fear can be an amazing catalyst to move you forward.
It is all about your perspective on fear, so how do you see fear played out in your life?
Let’s take a look at the common explanation of fear:
F= False
E= Evidence
A= Appearing
R= Real
I know we have all heard this before however; it is worth restating as we explore the reasons people do not step out and start their own business. 97% of the time these fears have been created in our own mind, 3% may be valid. Our minds have a way of stopping us from success if we allow it to happen. In our minds we create, especially as women, the worst case scenario filled with “what if’s” and “why bothers”. The key to overcoming fear is to move through it and change our perspective of the outcomes.
Outcomes; we tend to find ourselves creating “our expected outcome” instead of allowing the outcome to happen as a result of our efforts. The amazing part is if we allow the outcomes to happen they are generally more spectacular than anything we could have created or expected.
Attitude; this is the next area related to fear that we can change, if we are willing. If we look at the difference between where we stand today and where we want to be it is all a matter of time & attitude. Why are some people successful and others seem to struggle? Attitude! Let’s take a look at the word attitude, a little number exercise take the word attitude and write the number of the alphabet it is then add them up, what do you get?
A=1 T=20 T=20 I=9 T=20 U=21 D=4 E=5
100%
Let’s just say your attitude will affect your outcome 100%, what is your attitude like?
The number one objective today is to move through your fears, set aside the fear of the unknown and take a chance. The only things you will ever totally fail at are those things you never attempt to accomplish, leaving only the feeling of wish I would have tried. You can do anything you set your mind to do, if you are willing to step out and stay focused!
It is all about your perspective on fear, so how do you see fear played out in your life?
Let’s take a look at the common explanation of fear:
F= False
E= Evidence
A= Appearing
R= Real
I know we have all heard this before however; it is worth restating as we explore the reasons people do not step out and start their own business. 97% of the time these fears have been created in our own mind, 3% may be valid. Our minds have a way of stopping us from success if we allow it to happen. In our minds we create, especially as women, the worst case scenario filled with “what if’s” and “why bothers”. The key to overcoming fear is to move through it and change our perspective of the outcomes.
Outcomes; we tend to find ourselves creating “our expected outcome” instead of allowing the outcome to happen as a result of our efforts. The amazing part is if we allow the outcomes to happen they are generally more spectacular than anything we could have created or expected.
Attitude; this is the next area related to fear that we can change, if we are willing. If we look at the difference between where we stand today and where we want to be it is all a matter of time & attitude. Why are some people successful and others seem to struggle? Attitude! Let’s take a look at the word attitude, a little number exercise take the word attitude and write the number of the alphabet it is then add them up, what do you get?
A=1 T=20 T=20 I=9 T=20 U=21 D=4 E=5
100%
Let’s just say your attitude will affect your outcome 100%, what is your attitude like?
The number one objective today is to move through your fears, set aside the fear of the unknown and take a chance. The only things you will ever totally fail at are those things you never attempt to accomplish, leaving only the feeling of wish I would have tried. You can do anything you set your mind to do, if you are willing to step out and stay focused!
The New 4 Letter Word…
A new word has emerged that we will coin as “The New 4 Letter Word”! This 4 letter word can belittle someone; while at the same time give the user of the word an imaginary since of power. We have found that generally when this word is used it is meant to make the user feel better about themselves, somehow in their mind putting them above the other person.
What does this have to do with a Start-Up Business, everything! This is another great reason to launch into your own business eliminating some of the unnecessary behavior we allow ourselves to be subjected to on a day to day basis because we feel there are no other options. It also will help those of you launching you own business to develop a level of respect for others you encounter, especially in the service fields.
So many today have been subjected to being talked down to or about, it is a tough time in our economy so some are taking advantage of that to make themselves feel better. Have you ever been told you were “just a secretary”, “just a waitress”, “just a janitor”, or “just a temp”? We have been seeing too much of the use of the four letter word “just” to categorize a person’s position or status in life. Why are we seeing such an emergence of this mentality that definitely leaves a person feeling less than? I really believe it is because people are in fear of loosing what they have and have forgotten they were not always where they are today. The word “just” oozes out like the slime in a sewer and they instantly feel better, not looking back to see the damage done to the other person.
A client of mine recently experienced this, she chose to say yes to a temp agency for a position she was told would be long time temp or temp to perm. On the first day with the company they were already scheduling other interviews, so she contacted the agency to ask what was going on, “don’t I even get a chance to prove myself?” The agency promptly responded “just sit there and do the job you are “just a temp””. Imagine having that said to you when you walk into a new job focused on doing your best to prove yourself. It did not stop there the office where she was placed in also kept referring to her as “just a temp”; you are only here till the full-time person is hired. So my client took the agency’s advise and did exactly what they said, she sat there and filled the seat in the office since they would not give her any work or train her on what to do because she was “just a temp”. My client decided this is not worth it and is now launching a very successful VA (Virtual Assistant) business where she has complete control on her working environment.
This is a phenomenal reason to consider launching your own business so you can control the environment to position your self into and at the same time create a pleasant/positive atmosphere for all whom you encounter. What are you a master at, what do you love doing? Perhaps it is time to stop and consider launching your own business, creating a healthy/positive atmosphere you can thrive in daily. Remember it does not require a brick and mortar any more to build a business; all you need is an idea and some passion to fuel it forward.
What does this have to do with a Start-Up Business, everything! This is another great reason to launch into your own business eliminating some of the unnecessary behavior we allow ourselves to be subjected to on a day to day basis because we feel there are no other options. It also will help those of you launching you own business to develop a level of respect for others you encounter, especially in the service fields.
So many today have been subjected to being talked down to or about, it is a tough time in our economy so some are taking advantage of that to make themselves feel better. Have you ever been told you were “just a secretary”, “just a waitress”, “just a janitor”, or “just a temp”? We have been seeing too much of the use of the four letter word “just” to categorize a person’s position or status in life. Why are we seeing such an emergence of this mentality that definitely leaves a person feeling less than? I really believe it is because people are in fear of loosing what they have and have forgotten they were not always where they are today. The word “just” oozes out like the slime in a sewer and they instantly feel better, not looking back to see the damage done to the other person.
A client of mine recently experienced this, she chose to say yes to a temp agency for a position she was told would be long time temp or temp to perm. On the first day with the company they were already scheduling other interviews, so she contacted the agency to ask what was going on, “don’t I even get a chance to prove myself?” The agency promptly responded “just sit there and do the job you are “just a temp””. Imagine having that said to you when you walk into a new job focused on doing your best to prove yourself. It did not stop there the office where she was placed in also kept referring to her as “just a temp”; you are only here till the full-time person is hired. So my client took the agency’s advise and did exactly what they said, she sat there and filled the seat in the office since they would not give her any work or train her on what to do because she was “just a temp”. My client decided this is not worth it and is now launching a very successful VA (Virtual Assistant) business where she has complete control on her working environment.
This is a phenomenal reason to consider launching your own business so you can control the environment to position your self into and at the same time create a pleasant/positive atmosphere for all whom you encounter. What are you a master at, what do you love doing? Perhaps it is time to stop and consider launching your own business, creating a healthy/positive atmosphere you can thrive in daily. Remember it does not require a brick and mortar any more to build a business; all you need is an idea and some passion to fuel it forward.
Part 2 of Exploring some Start-Up Business options…
Now that we have explored the why & what of these top 10 top buys…Hot Products…Must Have Products that consumers are buying even during a recession, let’s take a look at ways you can generate income from each one:
1) Chocolate
a. Sign up for a MLM/Direct Sales that carries chocolate.
b. Create a home based chocolate business (getting molds & chocolate from a local cake
store). Easy to start, market to small boutique stores first, the internet and grow
from there.
2) Lipstick
a. Sign up for a MLM/Direct Sales cosmetic company
b. Become the expert on make-up, write an E-Book, do demo DVD’s, offer live make-
over’s for people searching for jobs
c. Internet Radio Show
3) Wine
a. Sign up for a wine Direct Sales company
b. Become the expert on make-up, write an E-Book, do demo DVD’s, do wine tasting
1) Chocolate
a. Sign up for a MLM/Direct Sales that carries chocolate.
b. Create a home based chocolate business (getting molds & chocolate from a local cake
store). Easy to start, market to small boutique stores first, the internet and grow
from there.
2) Lipstick
a. Sign up for a MLM/Direct Sales cosmetic company
b. Become the expert on make-up, write an E-Book, do demo DVD’s, offer live make-
over’s for people searching for jobs
c. Internet Radio Show
3) Wine
a. Sign up for a wine Direct Sales company
b. Become the expert on make-up, write an E-Book, do demo DVD’s, do wine tasting
events for local winery
c. Internet Radio Show
4) Romance
a. Create events/getaways be a coordinator
b. Write a book or E-Book
c. Internet Radio Show
5) Comfort Foods
a. Create a cookbook
b. Become a home chef, cook for people in their homes
c. Cooking classes
d. Internet Radio Show
6) Pepto Bismal
a. teach alternative ways to release stress
b. write an E-Book on foods to eat to help with stomach problems
c. teach meditation live, CD or DVD
d. Internet Radio Show
7) Eating In (instead of eating out)
a. Create a cookbook
b. Become a home chef, cook for people in their homes
c. Cooking classes
d. Internet Radio Show
8) Home Grown Produce (instead of store bought)
a. Create an E-Book on how to grow and what to grow based on your location
b. DVD demo on planting a garden & its care
c. Internet Radio Show
9) Running Shoes (instead of gym membership)
a. Home workout DVD
b. Walking CD
c. Internet Radio Show
d. Fitness E-Book
10) Home Safe (instead of the local bank deposits)
a. E-Book on how to store valuables in a home
b. Internet Radio Show on safety
The objective behind each of these Top 10 items is to:
· Identify if any of the Top 10 items are in your niche
· Explore ways to become the expert
· Market to the appropriate target audience
· Start dreaming about other ways to turn your item into a cash flow
This does not mean these are the only directions to consider when creating your Plan B, these are just the top 10 according to a local list. The key to success in building your Plan B is to determine what you love to do, is there a need for it in my community or in the world and am I willing to commit to do what it takes to make it happen. The next step…what will you choose to pursue as a business?
c. Internet Radio Show
4) Romance
a. Create events/getaways be a coordinator
b. Write a book or E-Book
c. Internet Radio Show
5) Comfort Foods
a. Create a cookbook
b. Become a home chef, cook for people in their homes
c. Cooking classes
d. Internet Radio Show
6) Pepto Bismal
a. teach alternative ways to release stress
b. write an E-Book on foods to eat to help with stomach problems
c. teach meditation live, CD or DVD
d. Internet Radio Show
7) Eating In (instead of eating out)
a. Create a cookbook
b. Become a home chef, cook for people in their homes
c. Cooking classes
d. Internet Radio Show
8) Home Grown Produce (instead of store bought)
a. Create an E-Book on how to grow and what to grow based on your location
b. DVD demo on planting a garden & its care
c. Internet Radio Show
9) Running Shoes (instead of gym membership)
a. Home workout DVD
b. Walking CD
c. Internet Radio Show
d. Fitness E-Book
10) Home Safe (instead of the local bank deposits)
a. E-Book on how to store valuables in a home
b. Internet Radio Show on safety
The objective behind each of these Top 10 items is to:
· Identify if any of the Top 10 items are in your niche
· Explore ways to become the expert
· Market to the appropriate target audience
· Start dreaming about other ways to turn your item into a cash flow
This does not mean these are the only directions to consider when creating your Plan B, these are just the top 10 according to a local list. The key to success in building your Plan B is to determine what you love to do, is there a need for it in my community or in the world and am I willing to commit to do what it takes to make it happen. The next step…what will you choose to pursue as a business?
Part 1: Exploring some Start-Up Business options…
You are ready to start your Plan B, what might be good directions to begin searching for the right start-up for you? Today we will explore the top 10, top buys…Hot Products…Must Have Products that consumers are buying even during a recession. The hottest products according to a recent article from The Dolan’s (Money Experts) are:
1) Chocolate
2) Lipstick
3) Wine
4) Romance
5) Comfort Foods
6) Pepto Bismal
7) Eating In (instead of eating out)
8) Home Grown Produce (instead of store bought)
9) Running Shoes (instead of gym membership)
10) Home Safe (instead of the local bank deposits)
Interesting list! There are some great opportunities for the creation of your own business in some of these listed above. Consider how many of the listed items are consumables, they need to be replaced which will generate repeat clients. Some of the listed items would be great to create informational products like CD’s, DVD’s, E-Books and even Tele-Gatherings all of which cost you very little to generate and in turn will yield a generous cash flow (if marketed to the target audience).
Let’s explore a the top 10 a little further to see why they may be in the top 10 and what opportunities you could create successfully:
1. Chocolate
a. comforting
b. relieves cravings
c. has some health benefits
d. a quick fix for a tough day
e. the number one grab to satisfy a sweet tooth by women
f. it is a consumable item, repeat clients
2. Lipstick
a. A must have for any wardrobe
b. Created great wealth during the Great Depression for companies like Max Factor,
because a woman may give up getting her nails done however, she will not give up her
lipstick
c. It is a consumable item, repeat clients
3. Wine
a. Makes an ordinary meal extraordinary, so if someone is crunching their budget this
may be a treat
b. People will always want to entertain, many serve wine
c. It is a consumable item, repeat clients
4. Romance
a. With the increased number of staycations people want to know how to make it
memorable
b. Perhaps a newly wed couple can not afford a honeymoon
c. Couples looking for solutions to strengthening their marriage during challenging times
5. Comfort Foods
a. Many times people just want something that makes them feel good during stressful
times
b. Makes people feel like they are at home, safe & comfortable
6. Pepto Bismal
a. Stress levels are high what are some alternatives to Pepto Bismal
7. Eating In
a. Cutting expenses may mean cooking more at home
b. Many do not know how to cook or what to cook so they eat frozen foods
8. Homegrown Produce
a. Again cutting expenses may also mean trying to grow your own produce, if a pound of
tomatoes are $3.99 and tomato seeds are $1.75, plus you can yield more produce this
way, healthier
9. Running Shoes
a. another area for cutting expenses is gym memberships, especially if they are not used
on a regular basis
10. Home Safe
a. With the failures of so many banks and many more forecasted to be closing people are
keeping their hard earned money with them to eliminate risk
b. They are also keeping it in safes for fear of a creditor cleaning out their account behind
1) Chocolate
2) Lipstick
3) Wine
4) Romance
5) Comfort Foods
6) Pepto Bismal
7) Eating In (instead of eating out)
8) Home Grown Produce (instead of store bought)
9) Running Shoes (instead of gym membership)
10) Home Safe (instead of the local bank deposits)
Interesting list! There are some great opportunities for the creation of your own business in some of these listed above. Consider how many of the listed items are consumables, they need to be replaced which will generate repeat clients. Some of the listed items would be great to create informational products like CD’s, DVD’s, E-Books and even Tele-Gatherings all of which cost you very little to generate and in turn will yield a generous cash flow (if marketed to the target audience).
Let’s explore a the top 10 a little further to see why they may be in the top 10 and what opportunities you could create successfully:
1. Chocolate
a. comforting
b. relieves cravings
c. has some health benefits
d. a quick fix for a tough day
e. the number one grab to satisfy a sweet tooth by women
f. it is a consumable item, repeat clients
2. Lipstick
a. A must have for any wardrobe
b. Created great wealth during the Great Depression for companies like Max Factor,
because a woman may give up getting her nails done however, she will not give up her
lipstick
c. It is a consumable item, repeat clients
3. Wine
a. Makes an ordinary meal extraordinary, so if someone is crunching their budget this
may be a treat
b. People will always want to entertain, many serve wine
c. It is a consumable item, repeat clients
4. Romance
a. With the increased number of staycations people want to know how to make it
memorable
b. Perhaps a newly wed couple can not afford a honeymoon
c. Couples looking for solutions to strengthening their marriage during challenging times
5. Comfort Foods
a. Many times people just want something that makes them feel good during stressful
times
b. Makes people feel like they are at home, safe & comfortable
6. Pepto Bismal
a. Stress levels are high what are some alternatives to Pepto Bismal
7. Eating In
a. Cutting expenses may mean cooking more at home
b. Many do not know how to cook or what to cook so they eat frozen foods
8. Homegrown Produce
a. Again cutting expenses may also mean trying to grow your own produce, if a pound of
tomatoes are $3.99 and tomato seeds are $1.75, plus you can yield more produce this
way, healthier
9. Running Shoes
a. another area for cutting expenses is gym memberships, especially if they are not used
on a regular basis
10. Home Safe
a. With the failures of so many banks and many more forecasted to be closing people are
keeping their hard earned money with them to eliminate risk
b. They are also keeping it in safes for fear of a creditor cleaning out their account behind
their backs
Part 2 of Exploring some Start-Up Business options, we will discover some ways to
Part 2 of Exploring some Start-Up Business options, we will discover some ways to
turn the top 10 into your own empire.
Wednesday, July 22, 2009
Beware of the Opportunist!
What an interesting time we are all living in today, with so much happening around us we find the “opportunist” also popping their head into our lives. As you consider the amazing journey to becoming an entrepreneur you also must be aware of the opportunists that will emerge with the next best thing.
I received a phone call today from one of those “opportunists” selling me on her next greatest opportunity in a new MLM (Multi-Level Marketing) company. The amazing part of these individuals is they will say anything to get you to sign up under them, why is that? The key to a MLM is building a huge team underneath you, which you make money on as they sign up, then you also make money off everything they sell or everyone they sign up on their team. Don’t misunderstand me here there are some people that do well with a MLM or Direct Sales opportunity, however it is not for everyone.
As she began to try to “sell” me on her new found opportunity that she invested $495.00 to begin, she became very demanding and pushy. Each time I said no thank you, not interested in another MLM she became more instant that I hear her out for this totally “amazing, life-changing opportunity that will create financial freedom for women around the world, this is nothing like you have ever seen before.” What is more amazing is she wanted me to consider handing her $495.00 without knowing who the MLM company is, not something I am in the habit of doing.
There are two ways to make money in an MLM if this is the direction you are considering for your start-up business:
1) Recruit, recruit & recruit some more!
2) Be selling in the MLM/Direct Sales group for a long period of time
One of the sales pitches all Direct Sales/MLM groups will make is you can make your annual salary in months verses a year, there is no truth to that especially here in Southern California with so many saturations of these types of businesses in each community. If you look at their magazine published monthly the top sales are located in either rural/small towns in the mid-west or from those in the business for 10+ years.
The key to success as you consider launching your own business is doing your homework before investing in anything. Here are a couple of questions you can ask yourself before writing them a check or giving them your credit card number:
1) How much is it to start this MLM/Direct Sales?
2) Check the company’s integrity through the BBB or Google search the company
3) Determine if there is a demand for the product or is it a luxury
It is time for us all to start our Plan B, you just have to determine what direction you want to go in, how much time you are willing to invest and do you love what you are planning to launch. Tip for today: Don’t say yes right away to an “opportunist” if it is a valid opportunity it will still be there tomorrow, do your homework!
I received a phone call today from one of those “opportunists” selling me on her next greatest opportunity in a new MLM (Multi-Level Marketing) company. The amazing part of these individuals is they will say anything to get you to sign up under them, why is that? The key to a MLM is building a huge team underneath you, which you make money on as they sign up, then you also make money off everything they sell or everyone they sign up on their team. Don’t misunderstand me here there are some people that do well with a MLM or Direct Sales opportunity, however it is not for everyone.
As she began to try to “sell” me on her new found opportunity that she invested $495.00 to begin, she became very demanding and pushy. Each time I said no thank you, not interested in another MLM she became more instant that I hear her out for this totally “amazing, life-changing opportunity that will create financial freedom for women around the world, this is nothing like you have ever seen before.” What is more amazing is she wanted me to consider handing her $495.00 without knowing who the MLM company is, not something I am in the habit of doing.
There are two ways to make money in an MLM if this is the direction you are considering for your start-up business:
1) Recruit, recruit & recruit some more!
2) Be selling in the MLM/Direct Sales group for a long period of time
One of the sales pitches all Direct Sales/MLM groups will make is you can make your annual salary in months verses a year, there is no truth to that especially here in Southern California with so many saturations of these types of businesses in each community. If you look at their magazine published monthly the top sales are located in either rural/small towns in the mid-west or from those in the business for 10+ years.
The key to success as you consider launching your own business is doing your homework before investing in anything. Here are a couple of questions you can ask yourself before writing them a check or giving them your credit card number:
1) How much is it to start this MLM/Direct Sales?
2) Check the company’s integrity through the BBB or Google search the company
3) Determine if there is a demand for the product or is it a luxury
It is time for us all to start our Plan B, you just have to determine what direction you want to go in, how much time you are willing to invest and do you love what you are planning to launch. Tip for today: Don’t say yes right away to an “opportunist” if it is a valid opportunity it will still be there tomorrow, do your homework!
Saturday, July 11, 2009
Do you have a Plan B?
What is a Plan B? A Plan B is the answer when your life is not heading in the direction you wanted to head, Plan B is when you have been searching for a job for over a year and nothing has happened. So have you considered your Plan B?
So many have been struggling to find a job since they were laid-off or the company they worked for shut their doors. The numbers have been staggering each month with numbers hitting over 600,000. The numbers of available jobs are limited and many employers are playing games with potential new hires. What do I mean by games? The stories we have been hearing from job seekers is really disheartening, one person went on an interview for a job that paid $22.00 per hour however, upon completing the interview the potential employer dropped the pay to $12.00 per hour because of supply and demand. Supply and demand means more job seekers than jobs so I do not have to pay you what you are worth and you still have to perform at your best.
Time to stop the madness and get your Plan B into action. They have stated that today is the age of the “Accidental Entrepreneur”, a day where people are forced into being an entrepreneur due to lack of choice. However, they also said it is the best time ever to be in this position! So let’s look at creating your Plan B, below are a few things to begin thinking about as you consider your Plan B:
*What am I passionate about?
*What am I skilled at doing?
*How much can I invest into a business?
*Do I want to do a MLM/Direct Sales Business or start my own?
*How much time am I willing to commit to make it happen?
*Who is my target market?
*Will I provide a skill, product or service?
*Who do I need in my spear of influence?
These are just a few questions to ask yourself as you journey into your Plan B. Also keep in mind it takes time to bring in the cash flow when starting a business and if you choose to do a MLM/Direct Sales Business it may take longer. You do not make thousands of dollars in these types of businesses overnight it takes time. Many making good money in these types of businesses have been in the business for 10-20 years, don’t be sold a bag of goods so quick, do your homework!
Monday, July 6, 2009
Social Media Marketing & the Start-up Business
The start-up business needs to get the word out on what they do as quickly as possible so in today’s market we have to explore tools that will expedite our efforts and reduce our cost. We are finding today that the traditional style of marketing in print media is rapidly fading into the sunset. With its high cost for printing and postage services the start-up business has had to consider new and creative ways to get their name out to their potential target market.
Technology has presented a new and powerful medium for the start-up business owner, the internet. With the invention of the internet Social Media has become the new effective & efficient tool in marketing efforts. The key to the success of this tool is understanding how to utilize it in a professional manner. Most people today have used Social Media as a personal tool to connect with people, however today sites like Facebook, LinkedIn and Twitter are launching into a new area as a business generating tool. Social Media Marketing still requires developing a relationship with people not just selling, selling, and selling. If we understand the concept that people buy from people we will be able to embrace the how to utilize this media.
“Look at Social Media like a BBQ; with LinkedIN is a business casual BBQ geared for Business to Business, FaceBook is your local BBQ hanging out and connecting to the public and Twitter is a big beach party.” This is from an interview today with one of the Founders of Self-Growth.com David Riklan. You have to know who you are connecting with in order to communicate effectively. Start out with determining who your target audience is to be then start connecting on that site.
Another forum for Social Media is sites like SelfGrowth.com where you can connect as an expert or connect as someone looking for advice, information or growth. The key to success with Social Media Marketing is to create a profile, upload your photo (keep it professional, not stuffy) and start connecting with the general chit chat, offering tips or advice then start talking about your business. DEVELOP RELATIONSHIPS FIRST BEFORE ASKING FOR THE SALE! Yes it is all in caps for the reason this is really important, the fastest way to loose connections is being all about the sale.
Once you have begun your game plan for social media, you need to begin looking at video marketing, which we will cover next time. The key is getting started today, it is all free to participate in and great business deals have began on Social Media sites.
Technology has presented a new and powerful medium for the start-up business owner, the internet. With the invention of the internet Social Media has become the new effective & efficient tool in marketing efforts. The key to the success of this tool is understanding how to utilize it in a professional manner. Most people today have used Social Media as a personal tool to connect with people, however today sites like Facebook, LinkedIn and Twitter are launching into a new area as a business generating tool. Social Media Marketing still requires developing a relationship with people not just selling, selling, and selling. If we understand the concept that people buy from people we will be able to embrace the how to utilize this media.
“Look at Social Media like a BBQ; with LinkedIN is a business casual BBQ geared for Business to Business, FaceBook is your local BBQ hanging out and connecting to the public and Twitter is a big beach party.” This is from an interview today with one of the Founders of Self-Growth.com David Riklan. You have to know who you are connecting with in order to communicate effectively. Start out with determining who your target audience is to be then start connecting on that site.
Another forum for Social Media is sites like SelfGrowth.com where you can connect as an expert or connect as someone looking for advice, information or growth. The key to success with Social Media Marketing is to create a profile, upload your photo (keep it professional, not stuffy) and start connecting with the general chit chat, offering tips or advice then start talking about your business. DEVELOP RELATIONSHIPS FIRST BEFORE ASKING FOR THE SALE! Yes it is all in caps for the reason this is really important, the fastest way to loose connections is being all about the sale.
Once you have begun your game plan for social media, you need to begin looking at video marketing, which we will cover next time. The key is getting started today, it is all free to participate in and great business deals have began on Social Media sites.
Thursday, July 2, 2009
Declare Your Independence
Have you ever considered starting your own business as a way to declare your independence from the bondage of relying on another person to create your income? I love the fact as a new business owner you are declaring your independence! So in the spirit of celebrating Independence Day, the 4th of July this article will explore the top 10 reasons to declare your independence today!
Reason #1
You have the FREEDOM to create your own income!
You determine how much you want to make and go after the ways/means to make the money, no one tells you that you will make only $12.00 an hour and yet give me $25.00 an hour worth of work.
Reason #2
You have the FREEDOM to determine how many days, hours you will work each week. You do not have to ask to go to lunch, take the day off or call in sick.
Reason #3
You have the Liberty to make changes as needed.
If things are not working out and there is a better way to go, change it without the red tape.
Reason #4
You get to do something you love or are passionate about.
Imagine waking up and wanting to work, not feeling forced to.
Reason #5
Eliminate the long commutes.
Many have to look for jobs outside their community and face long drives on congested freeways. Eliminate the commute by starting a business from home.
Reason #6
You have the FREEDOM to choose who you work with.
You pick your clients, your staff, etc. If it is not a good fit you choose to replace the staff or not work with the client.
Reason #7
FREEDOM from stress.
Eliminate the stress of finding a job or the possibility getting a pink slip by being proactive and plan now for your independence.
Reason #8
FREEDOM to choose when you get up & when you get out of your PJ’s
In some cases you can work from home in your PJ’s and bunny slippers.
Reason #9
The cost to start a business today is minimal.
What used to cost thousands and require a brick & mortar, now costs in many cases under $1,000.00 to get up and running.
Reason #10
The Tax Benefits
As an entrepreneur there are many advantages for you in the tax return arena. If you keep accurate records the benefits may surprise you. Check with a CTEC or CPA for full benefits.
These are just 10 of the numerous reasons to Declare Your Independence this July and start your own business. So what is holding you back today? There are so many options in launching a business whether it is as an entrepreneur or as part of a MLM or direct sales group, explore your options!
What a perfect time to launch this journey in your life as our country celebrates its 233rd year of Independence this weekend.
Reason #1
You have the FREEDOM to create your own income!
You determine how much you want to make and go after the ways/means to make the money, no one tells you that you will make only $12.00 an hour and yet give me $25.00 an hour worth of work.
Reason #2
You have the FREEDOM to determine how many days, hours you will work each week. You do not have to ask to go to lunch, take the day off or call in sick.
Reason #3
You have the Liberty to make changes as needed.
If things are not working out and there is a better way to go, change it without the red tape.
Reason #4
You get to do something you love or are passionate about.
Imagine waking up and wanting to work, not feeling forced to.
Reason #5
Eliminate the long commutes.
Many have to look for jobs outside their community and face long drives on congested freeways. Eliminate the commute by starting a business from home.
Reason #6
You have the FREEDOM to choose who you work with.
You pick your clients, your staff, etc. If it is not a good fit you choose to replace the staff or not work with the client.
Reason #7
FREEDOM from stress.
Eliminate the stress of finding a job or the possibility getting a pink slip by being proactive and plan now for your independence.
Reason #8
FREEDOM to choose when you get up & when you get out of your PJ’s
In some cases you can work from home in your PJ’s and bunny slippers.
Reason #9
The cost to start a business today is minimal.
What used to cost thousands and require a brick & mortar, now costs in many cases under $1,000.00 to get up and running.
Reason #10
The Tax Benefits
As an entrepreneur there are many advantages for you in the tax return arena. If you keep accurate records the benefits may surprise you. Check with a CTEC or CPA for full benefits.
These are just 10 of the numerous reasons to Declare Your Independence this July and start your own business. So what is holding you back today? There are so many options in launching a business whether it is as an entrepreneur or as part of a MLM or direct sales group, explore your options!
What a perfect time to launch this journey in your life as our country celebrates its 233rd year of Independence this weekend.
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