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Your Complete Guide in

finding the Right Business


Opportunity and Achieve
the SUCCESS
You Desire!
Copyright 2011 by Rita Schwarcz

Feel free to use this e-book my any means without changing


any details, links or wording. All rights reserved.

For more information please contact via:


http://www.MyLifechangeBiz.com

Published: Australia 2011


Contents

Introduction.page 4

Common Mistakes in Choosing a Business....page 8

The Benefits of Owning your Own Business.page 10

10 examples to earn money through a traditional


home business...............page 11

Where to Start and what You should ask Yourself.page 21

Your Business Planpage 25

Tips for a Successful Small Business....page 27

Some more tips and useful information to


Consider....page 28

End Notepage 32
The good news that you need to take in right away that
whenever there is an economic downturn home based
businesses explode in growth.

What that means is that this is an excellent time for you to


find the best home business opportunity for you.

Chances are that you have tried your luck at a home


business before but have only ended up in failure and
frustration.

But, that does not mean that you can never be a success. All
it means is that you need to take a different approach. Most
successful entrepreneurs failed multiple times before finally
becoming successful.

You need to realize that even as you read this there are
people out there consistently earning a 6-7 figure income
from their home based business. If others can succeed, why
not you? However you will need to realize that the road to
success starts with you identifying the best home business
opportunity for you.
The truth is that if you join the wrong opportunity then
nothing else matters, you will fail. No matter how hard you
work and what smarts you apply, chances of you succeeding
will be very minimal indeed.

However, if you choose the right opportunities then it will


be much easier for you to succeed, as long as you put in the
time and effort.

And so this leads us to that all important question; how do


you identify the best online opportunity that will work for
you? There are a few critical features you will want to look
for.

To start with you need to find an opportunity that deals with


excellent products that folks will want to buy. One of the
most common mistakes people make is to choose an online
opportunity only because of the high commission and very
attractive payment package.
While these factors are also important, it is more critical to
start by examining the kind of products you will be
promoting. And then you will have to ensure that the
business model you are dealing with is Network Marketing,
Multi-level marketing (MLM) or Affiliate Marketing. Do some
research online if you are not familiar with these terms to
get a clear understanding.

- The huge advantage with MLM opportunities is you will be


able to easily earn residual income. This is the key to
unlocking serious cash from your online business. Residual
income is money that you earn continuously for something
that you did only once.

- In Network Marketing opportunities, you will be able to


earn continuous income from people you introduce into the
business for as long as those folks remain active in the
program.

- Affiliate Marketing lets you spread your wings wide but


needs to be a done on a constant basis always depending on
changes of the companies or products you are marketing.
Its like doing the hard yard for others, snipping off some of
the profits.

Finally you will need to select the kind of online opportunity


that boasts of excellent tools to help you quickly build your
business. Some of these online tools will be able to help you
sell more products faster or introduce more people into the
business and make it grow much faster.
The truth is that there are not many home based business
opportunities that have these critical features in abundance.
Indeed only a few stand out above the rest. Here is one that
may fall in the category of being the best home business
opportunity for you: http://www.mylifechangebiz.com

Before rushing into something that might make you the


most money, theres a lot to consider. Remember, this is a
major life decision. If you dont choose a business well, you
could lose your shirt. But if you make a smart choice, you
could find fun, fulfillment, greater control, AND make lots of
money along the way.

To help lead you down the right path, we have a few tips for
you as you head down the path of choosing a business.

Think About It..


The average person spends 40 hours a week at work. If you
start working at 21 and retire at 65, thats approximately
91,520 hours of your life! That sounds like a lot, but
contrasted with the hours youll log running your own
business, it pales in comparison. Thats why its crucial to
choose a business that youre truly passionate and excited
about. When you do something you love, youll have a much
better chance of success, and you will actually enjoy the
longer hours. We were once told by a business sage that if
you love what you do, youll never work a day in your life,
and this has absolutely been true for us.
Its vitally important to think things through before jumping
into business ownership. Dont be one of the many
discouraged and bored entrepreneurs out there who failed to
consider these various factors. Instead, take the time and
effort to carefully consider your options and choose the right
path. Trust me, the ultimate success of your startup
business will make it all worthwhile down the road.

Common Mistakes in Choosing a Business

Failing to Verify Market Demand.

Success comes more easily if you do what you love.


However, passion for a particular activity or product is not
enough basis to start a business. You need to examine the
market potential, competition, resources required to enter
the market, and uniqueness of the idea. Most importantly,
you need to consider the potential demand of your market.
Turning your hobby or interest into a small business, for
example, without first finding out if there is sufficient
demand for the product or service is a sure way to fail.
While there are exceptions to this rule, many hobby-based
businesses have narrow and extremely segmented market
that may not be able to support the business. Determining
the potential demand and size of the market for your
product is the first factor in choosing a business.
Starting the business without adequate planning.

Starting a business is not something that you plunge head-


on without stopping to think. You need to plan every step,
every action, and every little decision that you make. Your
success is not guaranteed because you have found a market
opportunity that takes advantage of your skills and
experience. Many home business owners are guilty of taking
the process of business planning for granted. A well-written
business plan provides the strategy map of your business.
Following a good, distinctive strategy will ensure that the
business follows a consistent direction towards your goals.

Resisting the urge to ask for help.

Most people do not usually ask for advice in choosing a


business, either because they are too proud, afraid someone
else will steal their idea, or simply don't know help is
available. Help is out there; you just need to look for it. The
non-profit organization, SCORE, in cooperation with the
Small Business Administration, has chapters and offices all
over the country and provides advice to budding
entrepreneurs for free. Other small business entrepreneurs
are all too willing to tell you the lessons that they have
learned in starting a business - provided of course that you
are not a direct competitor or asking for trade secrets. If you
cannot find a knowledgeable person willing to give you
information about the business, you can always work as an
employee or an intern in a similar business. Not only will you
be receiving compensation, but also you are getting on-the-
job training and valuable insights on the business that you
want. One word of caution: good advice is always helpful,
but don't let other people tell you how to run your business.
Trying to start a business with too little money.

You may have the passion for the business that you are
planning to start, but can you afford the business? Is the
cost of your business within your reach? Where will you
secure funding to support your production, marketing and
operations? If you do not have the cash to support your
venture, there is a high likelihood that your business will end
up as a failed start-up.

The Benefits of Owning your Own


Business

Take a moment to daydream and in your dream consider all


of the positive things that are involved with owning
your Own Business and just simply taking total control of
your life. Doing this in a way that is totally positive.

Just imagine in your everyday life, you are running a


business that you Totally Enjoyed. You would do
everything possible to make sure that it was a total
success. It would be a positive force in your life.

Now, also imagine that you were eating better all of the
time. That you were totally in control of your finances. That
Life as a whole was just moving along a lot smoother.

Therefore, you would have some type of super energy that


helps you to get these things accomplished. This is
a Positive Energy Force. Home business ownership can do
it for you.
But what if you're NOT interested in running an Internet
Business? What if you want to start and run a home
business the old-fashioned way? Where do you start?

Actually starting any home business is the easy part.


The hard part's deciding what that business should be.

So how do you even start the process of deciding on the


right home business for you? The key is to be methodical,
realistic, objective and patient.

10 examples to earn money through a


traditional home business

1. Antiques

The buying and selling of antiques has been and should


continue to be a very productive business, financially, for
those that do it. Here, you only need an extra room in the
house, or the use of your garage -- and you have an office!

If you have a large home that has some antique furnishings,


you might consider turning it into a showroom for your
antique acquisitions and sales, providing you satisfy any
local zoning regulations. The interest in antiques will survive
into the foreseeable future. Many people choose to spend
their free time on the weekends "antiquating" from place to
place to try and pick up a few odds or ends and maybe a
jewel or two. If you know anything about antiques, this may
be a great opportunity for you.
For more information:

Priceless Guide to the Antique Business by Patrick


Campbell
How to Make Money in the Antiques-And-Collectibles
Business by Elyse Sommer

2. Baking

Have you ever been told that you have a recipe that people
would line up to get if they could? Ever had anyone tell you
that you should be selling those cupcakes you make?

There are a number of success stories about people who


have launched successful businesses by cooking at home
and then marketing to local people first. You may specialize
in on just one well-tried and tested food product; or you
may innovate on a product that you created yourself and
which has never been marketed before. Having perfected
the recipe you then turn to packaging and marketing. Word
of mouth on a good product may start to get restaurants or
bakeries interested in acquiring your culinary masterpieces.
Then you progress to selling them statewide and you're on
your way to a profitable home-based business.

For more information:

Starting a Food Business


How to Start a Home-Based Baking or Baked Goods
Business
Book: Freelance Foodcrafting : How to Become
Profitably Self-Employed in Your Own Creative Cooking
Businessby Janet Shown
3. Bed-and-Breakfast Proprietors

Have you ever stayed in a bed and breakfast and thought,


"Hey, I can do this!" You probably went on vacation and
simply chalked your thought up as one of those pipedreams
one gets when they stay in a beautiful spot.

Don't toss that thought away! While it's not easy work as
the hours can be long and it's usually a seven days per week
business, it's often something that you can work into a daily
schedule. After all, it's merely an extension of doing the
housework for family, right? More and more people are
taking after Europeans and opening their homes to
travelers.

If you have an extra room or two since the kids moved out,
you can start a bed and breakfast in your own
place! Bed and breakfast popularity will continue as more
and more vacationers and business travelers seek a different
accommodation away from the predictability of the average
hotel room. If they enjoy their stay, many become "repeat"
customers, coming back to the same familiar surroundings
time and again.

If you don't need to do any major renovations in the house


to accommodate this type of establishment, you can be off
and running with very little money invested, other than
advertising and some new "guest room supplies". If your
dream is to buy a bed and breakfast somewhere in a
vacation paradise, there are probably houses for sale that
will work for this purpose.
For more information:

How to Start a Bed-and-Breakfast Business


How to Open and Operate a Bed & Breakfast (Home-
Based Business Series) by Jan Stankus
Start and Run a Profitable Bed and Breakfast by Monica
Taylor, Richard Taylor
How to Start and Operate Your Own Bed-And-
Breakfast/Down-To-Earth Advice from an Award-
Winning B&B Owner by Martha Watson Murphy, Amelia
Rockwell Seton (Illustrator)

4. Childcare

Due to the financial pressures faced by many families today,


parents work outside of the home to bring in enough income
to pay daily living expenses. A single parent is obviously
working but all too often, both members of a two-parent
family are in the workforce. This creates a home-based
opportunity. Children must be watched, all day if they're not
in school, or, otherwise, for a brief time after school before
the parents finish work for the day. Most parents want their
children immersed in a more stimulating environment than
is usual with the average babysitter. You can begin small at
home, offering a more stimulating and educational
environment setting for client children.

Caring for one additional child may not be that lucrative, but
taking care of several children can certainly be a full-time,
financially successful business. Often, taking care of several
children is made somewhat easier as the youngsters often
will play together. You can do this at home for only a small
investment in basic equipment and toys for the kids in
addition to the advertising of your business.
For more information:

How To Start Your Own Day Care Center


So You Want to Open a Profitable Child Care Center :
Everything You Need to Know to Plan, Organize and
Implement a Successful Program by Patricia C.
Gallagher
Start and Run a Profitable Home Day Care (Self-
Counsel Business Series) by Catherine M. Pruissen

5. Computer Specialist

The advent of the computer age has changed the concept of


self-employment. Having a computer at home has opened a
number of opportunities for running your own business
utilizing this equipment. Companies everywhere are
"outsourcing" work that can be done by someone else on
their computer, out of their own home.

If you are a whiz in computers, you may end up working as


a consultant, writing programs for companies. If you are a
beginner, you may find yourself able to obtain work as a
writer, using your computer to produce copy that is easy to
edit. You can also keep accounting and payroll records for
companies on your computer's database.

Word processing software can be used not only for writers


but for those that can offer secretarial services out of their
house. Desktop publishing software can allow you to do
newsletters for businesses and other organizations. If you
can operate a computer, you can find work in the
information age today.
Of course, the advent of the Web has opened a lot of
business opportunities for the enterprising individuals. If you
have skills in lay-outing and graphic design, you can be a
website designer. Website designers earn significant
amounts of money nowadays.

For more information:

How To Earn Money On The Web


How to Make Money from WordPress
How to Earn Advertising for Your Small Website or Blog
12 Ways to Make Money with Photoshop
Business Idea: Starting a Virtual Assistant Business
Domain Naming Service: A Profitable Niche Business
Idea
Making Money With Your Computer at Home : The
Inside Information You Need to Know to Select and
Operate a Full-Time, Part-Time, or Add-On Business by
Paul Edwards, Sarah Edwards
121 Internet Businesses You Can Start from Home :
Plus a Beginners Guide to Starting a Business Online by
Ron E. Gielgun

6. Gardening

If you like working in your garden each year , it's a definite


possibility for home-based employment. Imagine clearing a
little more space and growing more items that you can sell
directly to the consumer. You can produce vegetables,
bedding plants, bonzai tree, exotic plants, flower trees,
herb, house plants, landscaping plants, orchids and many
more.
Most produce stands will buy from you if your product is one
of high quality. If you enjoy gardening, this could be your
ticket! If you have some more land to use, do it! Plant what
you can, when you can! Contact your local produce stands to
ascertain their buying habits.

You can even inquire about your own produce stand if you
have enough product. The more space you have on your
land, the more likely you will be able to generate enough
crops to run the business. People love homegrown
vegetables. They just do not have the time or want to be
bothered doing it themselves. That is your open door!

You can also engage in selling other gardening products and


supplies such as compost, earthworms, herb boxes,
beneficial bugs, or drip irrigation systems.

For more information:

How to Start an Herb Farming Business from Home


Plants for Profit : Income Opportunities in
Horticulture by Francis X. Jozwik, Dr Jozwik, John Gist
(Editor)
How to Make Money Growing Plants, Trees, and Flowers
: A Guide to Profitable Earth-Friendly Ventures by
Francis, X., Dr. Jozwik, John Gist (Editor)
Growing Profits : How to Start & Operate a Backyard
Nursery by Michael Harlan, Linda Harlan
7. Importer and Distributor

There are a substantial number of products manufactured in


other countries that can be bought inexpensively and sold in
your country at a profitable level. The Government and the
formation of international trade organizations have made it
easier to bring in other products from other countries.

This is a business easily operated out of the home,


depending on the types of stock you're carrying. You may
have to rent some storage space, but the capital required to
start should essentially be limited to the products you're
buying to sell here.

If you know the type of product you want to import and the
market most likely to purchase your goods, you have great
potential for a successful home-based business.

For more information:

Starting an International Trading Business


How to Find and Use an Export Management Company
Books: How to Start an Export-Import Business
Import/Export: How to Get Started in International
Trade by Carl A. Nelson
Exporting, Importing, and Beyond : How to 'Go Global'
With Your Small Business by Lawrence W. Tuller
8. Interior Decorator

Interior decorating is a business that will require you to be


mobile, constantly meeting with customers. It offers flexible
hours, a good variety of activities, and a very lucrative
return. If you have a fascination for decorating a home, this
could be your line of work. Many people do not know where
to start when they are remodeling or buying a house for the
first time.

If you have the knowledge of colors and patterns and what


looks good together, plus the expertise of knowing where to
get materials and furnishings, this can be a winning home-
based business for you. To be able to decorate a room so
that it conveys the mood that the homeowner wishes will be
your goal. Strive for the skillful, personal touch in all you
design.

For more information:

Starting an Interior Design Business


How to Become an Interior Decorator
Starting an Interior Decoration/Design Business
Opportunities in Interior Design and Decorating Careers
(Opportunities Series (Cloth) by Victoria Kloss Ball
How to Start a Home-Based Interior Design Business
(How to Start a Home-Based Interior Design
Business) by Suzanne Dewalt
9. Photographer

The sky is the limit here! Armed with your trusty camera
and some good advertising, you can do weddings, models,
family portraits, passports, student photos, local newspaper
coverage; almost anything that requires a picture!

You can easily start this work, part-time, and work into full-
time work based on your success and inclination. Not much
equipment is necessary to get going as a camera off the
store shelf can often do the trick today. Picking up a tripod
and having a room sufficient for developing your pictures,
and you're in business -- at home!

For more information:

Starting a Home-Based Photography Business


How to Earn from Stock Photography
Books on How to Start a Photography Business
How to Start a Home-Based Photography Business, 3rd
Edition (Home-based business)by Kenn Oberrecht
Make Money With Your Camera by David Neil Arndt

10. Sewing and Alterations

Many people love to sew. If you are one of them, consider


offering this service out of your home. When someone buys
a new outfit, it rarely fits perfectly, meaning some kind of
alteration must be done.
People look long and hard to find reliable individuals to do
their alterations. If you can sew, you are well on your way to
opening the doors of this type of business.

For more information:

Starting a Home-Based Sewing Business


Starting a Clothing Line or Apparel Manufacturing
Business
The Business of Sewing : How to Start, Maintain &
Achieve Success by Barbara Wright Sykes

Where to Start and what You


should ask Yourself

What's my "heart's desire" when it comes to work?

Think big! Or at least wide. If you're contemplating turning


your interest in gardening into a career, expand your
horizons to include as many forms of possible work in such a
field as you can imagine; from as general as owning a retail
garden center to as specialized as inventing and marketing a
gardening tool to serve a unique niche such as elderly
gardeners. Hand-in-hand with this question is one that often
gets overlooked in the excitement associated with being an
Entrepreneur can you imagine doing such work for extended
hours and to meet the approval of your customers/clients or
would this potentially take away from the enjoyment you
now have for such a passion/hobby?
Identify What You Like

It's one thing to know a lot about something or be good at


it. It's quite another to enjoy it enough to want to make it
your life's work. So, remove from the list you created in
Step 1 anything that you don't really, really like doing or
which plain doesn't interest you. No matter how good you
are at it. If you're lucky enough to like what you're good
at, as a general rule, stick with what you know.

Do I have the job skills necessary to be successful at


such a business?

While desire can be a strong driving force, one still needs to


know how to drive to reach their goal. While it's not
necessary to possess every skill needed for the business
you're contemplating opening, you at least have to identify
such skills and determine if you have the time, energy,
and/or resources to learn them and/or to ask for outside
help in performing various tasks such as bookkeeping or
marketing. Answering this question thoroughly also involves
analyzing whether you have the right personality to get the
job done. If you're not a "people person" and you're
considering opening a beauty parlor in your home, you
might want to re-evaluate if such a career is the best use of
your capabilities.
Start to inventory your skills, experience, interests, and
personality characteristics. These are what you have to work
with - your raw ingredients, so to speak.

Make a list of personal qualities and factors that you can


throw into the mix. Include things like:

=> your personal background;


=> training and education;
=> work and volunteer experience;
=> special interests and hobbies;
=> leisure activities;
=> your personality and temperament.

All of these qualities and factors make up what you know


and what you're good at.

Do I have the resources necessary to be successful at


such a business?

This includes financial resources as well as the time to


commit to your endeavor and a suitable location, whether
your home or a nearby facility. Again, while you don't need
a large inheritance stashed away in the local bank to get
your business underway, you should at least have sources
that you can approach to tap into when and if necessary.
Obviously, depending on your career choice, you might need
less start-up money for one endeavor versus another; that's
often the case for service-oriented work compared to
product-driven businesses.
Also, consider how much time you can realistically invest in
this new adventure. Do you only want to work part-time
when full-time is potentially going to be necessary to really
succeed? Last, but certainly not least in importance, is your
home suitably located and zoned for your business or will
you need to rent, lease, or purchase an office, store-front,
manufacturing facility, or maybe even an existing franchise?

Just because I have the desire, skills, and resources,


is there a market for my business?

Sure, you might see the need for a better "blue widget," but
will anyone else? Maybe the market is already saturated
with blue widgets that work just fine and the competition is
sufficiently meeting the consumers' needs. Perhaps blue
widgets are just the latest trend and have no real long-term
potential for helping you realize your business goals.

Please realize that blue widgets aren't just products, they


can also be services. If your market research leads you to
the conclusion that your idea isn't likely to meet your
ultimate business objectives, DO NOT hesitate to start from
square one and come up with a different idea. Successful
business people realize the value in knowing when to
backtrack and begin traveling a new stretch of their career
path.
Your Business Plan

Once you've gone through the above process and


identified what appears to be the right business for you, the
final "gut check" is to write a business plan for your
business, much as you would for a presentation to a bank
for financing. Include sections for strengths, weaknesses,
opportunities and threats, and set goals for what your
business needs to achieve for you, by when and how you are
going to get there.

There are plenty of good resources online about how


to prepare a thorough business plan. A great place to start
is at About.com (http://www.about.com). Just type
"business plans" into the search box.

Although it may seem like a waste of time and effort to


complete a business plan if you don't intend to seek
outside financing, taking the time and exercising the
discipline needed to really focus your mind on the important
issues facing your business, you will be forced to take a long
hard look at your idea through very objective and realistic
eyes.

If your idea passes the business plan test, then you can be
reasonably confident that this is the right business for you.
If you come away from this exercise feeling hesitant,
uncertain and unsure, either do more research (if the
reason for your hesitancy and uncertainty is lack of
information) or discard the idea (if it's because you don't
think your idea is going to fly). If this happens, just keep
repeating Steps above until you end up with an idea and a
business plan that you're confident is going to work!
Although it's frustrating to wait once you've made up your
mind to start a business from home, this really is one
situation where the tortoise wins the race. By taking a
methodical, systematic and disciplined approach to
identifying the right home business for you, you give your
business the best possible chance for long-term survival,
hopefully avoiding some very expensive mistakes along the
way.

Some people spend years dreaming about starting


their own business. Many are simply unsure of the
direction that they'd like to pursue if they took the
chance and ventured out on their own; others are
simply unable to separate themselves from the
comfort associated with receiving a regular paycheck
- even if it is for working at a job that's less than
fulfilling to them.

There's no doubt that making the ultimate decision to


be self-employed can be both liberating and
frightening at the same time. When you go the extra
mile and take the time to identify the line of work that
will work best for you, you'll be able to appreciate the
fact that, for every day you invest in making such an
important decision, you'll potentially be adding quality
years to the life expectancy of the business you've
given birth to.
Tips for a Successful Small Business

There is one thing that all successful people value more than
money and that is their time. They will be more willing to
give up money because they can never get time back. Even
repetition of small changes can make all the difference on
whether your dreams become a reality.

These are a few of the key changes I made in my life that


impacted everything.

- write down you short/medium and long term goals and


revisit and revise them periodically as they will change

- try to tick them off as you go and celebrate all of your


achievements and wins, big and small

- get organized, research some ways you can make yourself


more organized. Some will find it challenging even sticking
to a diary, but I have everything diarized even when I do my
housework and pick up my child from kindy. Dont forget
you free time, it should also be in your diary

- design a DMO daily method of operation and stick to it no


matter what (you can rearrange your day but complete all
steps daily)

- be committed and re-commit daily to your business

- dont forget to spend time on yourself and your personal


development and quiet time-meditation

(I believe this is the most important point to become


successful!)
If you are after a Home Business you can run completely
online, where you will get All your initial and ongoing
training and support and basically getting paid to evolve and
to grow and assist others to help themselves, feel free to
check our my website.

Dont let the one things that made you


start your business Be the reason for your
failure!

Some more tips and useful information to consider:

The most important thing you can do is to write a business


plan as stated above and stick to it!

Start with as much of your own money as possible


Many small business owners cover their start-up costs
entirely through loans, with the expectation that they will
begin paying back the loans with the profits from their new
business. New businesses can take months or years to
generate a profit, however, and loan payments can really
become a millstone around the neck of a fledgling operation.

If you can save up as much of the start-up capital yourself


before you open your doors, you will help ensure that loans
won't sink your new business. Remember, also, that there's
an outside chance that a lender will call a loan or add
unfavorable terms if your business isn't as successful as you
initially planned. If you provide as much of the start-up
money as possible, it will lessen the odds of a nasty surprise
like this hindering your business.
Protect yourself
Most small businesses are sole proprietorships or
partnerships. While these types of businesses are nice and
easy to form, they also expose their owners to liability for
business debts and judgments. Creditors and judgment
holders can come after the owners' personal assets, like
savings accounts and homes, once the business' money is
depleted.

While insurance can reduce this liability somewhat, it's worth


it to consider forming a corporation or limited. These
business structures will shield owners from personal liability,
but there are more rules and requirements associated with
them.

Start small
Everyone wants their small business to be successful, with
multiple locations, lots of employees and loads of revenue,
but you have to learn to walk before you can run. Don't
spread yourself too thin or take on too many expenses at
the beginning, especially if your income might take a while
to catch up to your ambitions.

By starting small, you ensure that you can survive the


inevitable hiccups associated with running a small business.
Those entrepreneurs who begin with modest operations can
recover and learn from their mistakes without taking on a lot
of debt. Starting small will help your small business grow
into a successful enterprise.

Get it in writing
While, it's nice to do business with a handshake, there's no
substitute for a well-written contract. Indeed, many
contracts are not valid unless they are in written form.
The exact number of this type of contract varies between
states, but here are a few common examples:

Sales of goods worth more than $500


Contracts lasting more than a year
A transfer of ownership in copyrights or real estate

While contracts can be valid when orally made, they are


much harder to prove and enforce. Make sure you get all
agreements in writing -- it will save you headaches down the
line, and could even save your business.

Keep your edge


There are many ways to gain a competitive edge over other
businesses in your industry: you could have a better
product, a more efficient manufacturing or distribution
process, a more convenient location, better customer
service, or a better understanding of the changing
marketplace.

The best way to hold onto your competitive edge is to


protect your trade secrets. A trade secret is that information
that isn't known to others that gives you a competitive
advantage in the market. There are many kinds of trade
secrets, and trade secrets receive legal protection as long as
their owners take steps to keep them secret.

Those steps could be anything from marking confidential


documents to requiring partners and employees to sign
nondisclosure agreements.

Another way to hold onto your competitive edge is to stay


proactive. If you know that your business is going to face
challenges or encroachment by a competitor, don't wait to
react -- plan ahead and you'll stay ahead.
Hire the right people

Don't just hire the first person to come along with the basic
qualifications you need. Look for someone with motivation,
creativity and the right kind of personality to make it in your
industry and fit in with your business. Then, once you've
found that person, treat them well, engage them and make
sure that you create the environment that they will thrive
and give their all in.

Make sure you create the right kind of employee


relationship
Lots of businesses try to save money by hiring people as
independent contractors rather than full-time employees.
The IRS will impose large penalties on businesses that do
not withhold and pay taxes for workers that it considers full-
time employees rather than independent contractors. Here
are some things the IRS will look at to determine whether a
worker is an independent contractor or a full-time employee:

The worker performs tasks that are essential for your


business
The worker only works for your business
The worker works 40 hours a week, or nearly 40
hours
The worker receives instructions and training from
you, and you exercise control over how the worker
does their job

Also be sure to create an "at-will" relationship with your


employees. Employers can terminate at-will employees for
any reason, which is essential if an employee isn't working
out. There are many ways to make it clear that the
employment relationship is at-will, including in employee
handbooks and through offer letters.
Don't make any promises to employees about the length or
terms of their employment, as these could become binding
on you later.

Pay your bills and taxes on time


It should go without saying, but it's important to pay what
you owe -- especially when dealing with the IRS. The IRS
can impose harsh penalties and even come after a business
owner's personal assets if the owner doesn't remit payroll
taxes on time.

It's also important to pay your regular debts in a timely


fashion. If you get a reputation for stalling on a debt, you
could find it difficult to form business relationships in the
future. Plus, if you stay current on your debts and pay them
as you incur them, it will help you avoid being overwhelmed
by cash flow problems if several debts come due
simultaneously.

End Note

Now you should have a clearer understanding about how


and where to start in finding the business for yourself and
also some important factors to keep in mind to make sure
that you are successful.

Hopefully I was able to provide you with some useful tips


that have hit a spot in you to get you closer to your goal.

Give yourself the time and space to make that decision as it


is very important to consider all aspects and do your due
diligence and getting fully informed.
If you search on the internet and request information about
opportunities, make sure you go through all given
information thoroughly and dont hesitate to ask questions.

If you can see yourself happy by doing it for the rest


of your life, you have mad the right choice

If you want to cut through the middle, you might like the
type of business I have chosen..

Would you like to have the flexibility and profit flow of being
your own boss, but want the infrastructure of a successful
business already built, this might be for You!

Achieve the desired change and growth that you


deserve. If you are truly serious about changing your
current life and strengthening your future, please take a
minute and go to my website!

http://www.MyLifechangeBiz.com

Written and published by


Rita Schwarcz
Business and Lifestyle mentor
Connect with me:
http://www.facebook.com/ritaschwarcz
www.facebook.com/ritaschwarcz22 (free stuff for you )

www.linkedin.com/ritaschwarcz
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