• Embed Doc
  • Copy Link
  • Readcast
  • Collections
  • CommentGo Back
Download
 
Business ideas, and working from home.
Many of us have dreamed of starting our own business; the current recession hasresulted in redundancies and layoffs so many people are forced to considerwhether self-employment is the way to go. Will working for yourself ultimatelygive you more security? Are you disciplined enough to manage your time andresources effectively?Money is tight, and the banks are not lending, so what type of business is best tostart in a recession? Here are 10 points to consider before deciding what type of business is best for you.1/. Should I purchase an existing business for sale? This route may beproblematic if you do not sufficient cash reserves to purchase the business. Toborrow money during a recession isn’t easy, banks will want to see a detailedbusiness plan and will want to assess whether you have the right qualifications tomanage the business.2/. Do I have the right qualifications to start a business? Banks will look at yourtrack record to determine whether they think you will make a success, andwhether you are a good financial risk, someone to lend money to. TV shows likeDragon’s Den show up contestant weaknesses, many budding entrepreneurs havea very poor understanding of how to make an assessment re whether a businessidea is viable. Under the scrutiny of investors, unless you have the facts andfigures available to show projected turnover, profit margins and net profit, returnon investment, you will fail, so you must do your homework. Is the businessviable? Why is the business owner selling? Will you need specialist training? Willtraining be provided? Who valued the business? Does the vendor’s valuationmatch an independent business advisor’s valuation? If not, will the sellernegotiate on price? These are questions to ask when purchasing an existingbusiness.3/. Should I buy a franchise? A franchise is supposed to be a proven business,proven to make money and be a winning formula, but be sure to do yourresearch to see evidence of the profit that franchise operators are supposed tomake. If a franchise is being sold on, ask why the owner is selling – does theprofit match the marketing hype? There are thousands of vinyl printing machinesand badge embroidery sewing machines stored in back rooms around thecountry, so be sure to talk to existing and past operators – a good place to dothis research is through search engines and business forums.4/. Should I consider working from home? The Internet provides greatopportunities to create a work from home business. Working from home willreduce your overheads, and you can spend less time and money commuting to anoffice. By using VOIP telephone services like SKYPE, you can keep communicationcosts down to a minimum.5/. What type of business can I start to work at home? Internet marketing is onearea that has proven to offer potential, but as with all business, you need to takeadvice and be wary not to spend money on “make a million overnight” typevideos and DVDs. The Internet is a fabulous resource for free information so useit for research to determine what type of affiliate program to sign up for.6/. What is affiliate marketing? Affiliates are paid to promote products orservices, usually on a commission basis, or according to the number of customersthey drive to a particular website, owned by the affiliate program operator.
of 00

Leave a Comment

You must be to leave a comment.
Submit
Characters: ...
You must be to leave a comment.
Submit
Characters: ...