Start A Business Rite

Big Money in your own Small Business – by Jeffrey J. Fox

admin — Fri, 17 Dec 2010 09:54:20 +0000

How to Make Big Money in your own Small Business

Carpe diem. Seize the day.

In this book, How to make Big Money in your own Small Business, Jeffrey J. Fox suggests all small business owners learn some Latin. The book is filled with short chapters, each giving you an entertaining piece of advice and or encouragement. Carpe diem. You can’t change yesterday, you have today and tomorrow to improve your business.

Starting and running a business is not easy, you will have one problem after another and there will be plenty of people telling you why your idea won’t work or the business will fail. Fox doesn’t deny this, but says “Aspirando et perseverando” (Aspire and persevere).

Some advice is very straight forward – don’t kid yourself into thinking you will have the self discipline to work out of your home. He says we can’t compete with the distractions of the refrigerator, the door bell and taking our pet ferrat for a walk. Any tax deduction we receive will be negated by a reduction of productivity which comes with the home office.

It’s ok to Strike out often. No wait, Fox said not to worry about the failures, keep trying. It is the successes that matter and if you don’t keep trying, the successes will not arrive.

The 60-30-10 rule is offered as a powerful allocation tool. Where should you spend your time. Treat your time like you would your money, invest carefully. This rule can be applied at a high level to running your business with the recommendation to spend 60% of your time on marketing and selling.

Another great chapter in this book is the one with the Small Business Owner’s Success Blueprint. Fox defines a step by step blueprint for your business, ending in “You must start selling and never stop”.

I enjoyed the book and found myself looking to see what other books he has written.

Books by Jeffrey J. Fox:

How to make Big Money in your own Small Business
How to Be a Fierce Competitor: What Winning Companies and Great Managers Do in Tough Times
How to Become a Rainmaker: The Rules for Getting and Keeping Customers and Clients
Secrets of Great Rainmakers: The Keys to Success and Wealth

101 Best Businesses for Pet Lovers — Joseph Nigro

admin — Thu, 16 Dec 2010 16:30:29 +0000

Interested in starting a business? Do you love pets? Great business ideas may be different for different people. 101 Best Businesses for Pet Lovers may trigger the business idea and passion combination required for success.

Pet sitting, dog walker, dog trainer: do any of these business ideas sound like a great idea for a pet business? This book walks through a 101 ideas at a high level. The book spends time identifying background information on the idea, discussing how much money it will take, what qualifications would be required, resources available and how to find customers.

The chapters in the book discuss:

Great Business Ideas for Pet Lovers

Services for pets
Part time and full time pet careers
Pet product manufacturing and inventions, including pet food and pet toys.
Using your talents – designing clothes, writing a book, making furniture or photographing pets.
Pet owners merchandise. T-shirts, bumper stickers or license plates.
Brick and Mortar retailing and franchises.
Unusual items: Holiday clothing, Cat nip farm or a doggie summer camp
Online pet business: Sell pet thngs on eBay, create a pet website or newsletter

The sky is the limit with these ideas.

If pets are your passion and you are working in the idea phase, this book is for you.

SBA Economic Injury Application Deadline for New Jersey is Jan. 3

admin — Wed, 01 Dec 2010 17:35:48 +0000

The U.S. Small Business Administration is reminding businesses in New Jersey that Economic Injury Disaster Loans are still available to small businesses and non-profit organizations of all sizes economically impacted by the severe storms and flooding that occurred from March 12 through April 15, 2010.

“Businesses and non- profit organizations that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the Jan. 3 deadline”

“Businesses and non- profit organizations that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the Jan. 3 deadline,” said Frank Skaggs, director of SBA Field Operations Center East in Atlanta.

Small businesses and non-profit organizations of all sizes in the entire state of New Jersey are eligible to apply. These loans are also available in the following adjacent counties: New Castle in Delaware; Bronx, New York, Orange, Rockland and Westcester in New York; and Bucks, Delaware and Philadelphia in Pennsylvania.

Loans up to $2 million are available for eligible entities that suffered substantial economic injury from the disaster. Borrowers may use these working capital loans to pay fixed debts, payroll, accounts payable and other bills they could have paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.

The interest rates on these loans are 3 percent for non-profit organizations and 4 percent for businesses with a maximum term of 30 years. The SBA determines the amount of economic injury and the terms of each loan based on the financial circumstances of each borrower. Eligibility for the program is based on the size and type of business and its financial resources.

Disaster loan information and application forms may be obtained by calling the SBA’s Customer Service Center at 800-659-2955 Monday through Friday from 8 a.m. to 6 p.m. ET or by sending an e-mail to disastercustomerservice@sba.gov. Those affected by the disaster may apply for disaster loans from SBA’s secure website at https://disasterloan.sba.gov/ela/. Loan applications can also be downloaded from www.sba.gov and should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline for economic injury applications is January 3, 2011.

For more information about the SBA’s Disaster Loan Programs, visit our website at www.sba.gov.

Release Number: 11-132, NJ 12108

Contacts

U.S. Small Business Administration
Michael Lampton, 404-331-0333

Top Tips for Cleaning a Window

admin — Sat, 27 Nov 2010 20:48:21 +0000

Are you going to start a window cleaning business? You will need all the window washing tips you can find.

Find some music you enjoy, to keep you motivated
Use two buckets, one with clean water
Fill one bucket with two gallons of water & 4 to 6 drops of dish washing detergent
Use a squeegee, paper towels and a sponge
Dip the sponge in the bucket with dish washing detergent
Wash the window with the wet sponge. Spend extra time on the corners and edges.
Don’t get the detergent on the window sills.
Use a touch a swirl motion to get the dirt away from the corner.
Dip your squeegee in the clean water & wipe it with a paper towel
Start at the top right corner & go down lightly with the squeegee to a few inches from the bottom.
To clean the window, move top to bottom lightly with the squeegee to the left side of the window.
Wipe your squeegee with the paper towel. Do one motion across the bottom of the window with the squeegee.
Wipe off any excess detergent water off the window pane or window sill.
On the other side of the window, change your movements from left to right, instead of top to bottom. This way, if there are any streaks, you will know which side of the window they are on.
A cloudy day works better for window cleaning than a sunny day. On a sunny day, the window may dry faster than you can polish it.

What are your top tips for Cleaning a Window?

SBA New Site: Six Steps to Exporting Success

admin — Fri, 19 Nov 2010 19:27:23 +0000

News Release

SBA PRESS OFFICE

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Commerce, SBA Launch New Online Tool

To Help Small Businesses Begin Exporting

New Site: Six Steps to Exporting Success

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Release Date: November 19, 2010

Contact: David Hall (202) 205-6697

Release Number: 10-66

Internet Address: http://www.sba.gov/news

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WASHINGTON – Small businesses interested in exporting now have a new online tool to help them tap into the global marketplace to grow their business.

Developed by the U.S. Department of Commerce and the U.S. Small Business Administration, Six Steps to Begin Exporting, www.export.gov/begin, is the latest tool in the National Export Initiative toolbox to help entrepreneurs begin

exporting.

The six-step process begins with a self-assessment to help potential exporters gauge their readiness to successfully engage in international trade. The self- assessment is followed by sections on training and counseling programs; resources to create an export business plan; information on conducting market research; assistance for finding foreign buyers; and investigating financing for your small business exports, foreign investments or projects.

Upon completing the self-assessment, businesses receive a score indicating their level of readiness. Based on the score, additional resources are identified fitting their specific needs, including SBA and its nationwide resource partners SCORE and Small Business Development Centers, as well as Commerce’s U.S.

Export Assistance Centers, which provide individualized support.

“This practical, interactive website is just the latest example of the commitment the Obama administration has made to helping American businesses – especially small businesses – sell more of what they make around the world,” U.S. Commerce Secretary Gary Locke said. “Connecting America’s entrepreneurs and small businesses with new buyers and new markets abroad will help create jobs and spur sustainable economic growth.”

“With nearly 96 percent of the world’s customers living outside the United States and two-thirds of the world’s purchasing power in foreign countries, tapping into opportunities in the global market makes perfect sense and is more attainable than ever for small business owners,” SBA Administrator Karen Mills said. “One of the main hurdles potential exporters face is their fear that exporting is too complicated. This six-step process addresses and dispels that concern. Across the administration, we continue to strengthen the tools and resources so we can be the best possible partner in helping small business owners grow their customer base beyond our borders and, in doing so, create new jobs here at home.”

This joint Commerce-SBA effort is part of an array of activities by federal agencies to support President Obama’s National Export Initiative, which calls for doubling U.S. exports and supporting 2 million jobs over the next five years. So far this year, U.S. exports have increased nearly 18 percent compared to the same period in 2009.

President Obama has outlined five steps the Administration is taking to help U.S. firms expand sales of their goods and services abroad: creating a new Cabinet-level focus on U.S. exports, expanding export financing, prioritizing government advocacy on behalf of U.S. exporters, providing new resources to U.S. businesses seeking to export, and ensuring a level playing field for U.S.

exporters in global markets.

For more information on export services for small businesses or to find local counseling and technical assistance resources, please visit www.export.gov.

Start a Cleaning Business – a Window Cleaning Business?

admin — Thu, 18 Nov 2010 02:54:05 +0000

You are in the idea stage of starting a cleaning business, maybe even leaning towards a window cleaning business. Is this the right decision? How could you be sure? What if you are wrong? There is nothing wrong with thinking through the options, in fact, it is the right thing to do. A little time up front jotting down options will start your juices flowing and you will end up with the best idea.

Remember, when you are brainstorming, there are no bad ideas. Start out by writing down anything you can think of:

Start a Window Washing Business
Start a Residential Cleaning Services Business
Window Cleaning Tools
Start a Handyman Services Business
Start a Yard Care Services Business
Start a Foreclosure Cleaning Services Business
Start a Crime Scene Clean Up Business
Start a Senior Services Cleaning Business
Start a Carpet and Upholstry Cleaning Business
Start a Basement Cleaning Business
Start a Green Cleaning Services Business
Start a Commercial Cleaning Business
Start a Junk Removal Business
Start an Air Duct Cleaning Business
Start a Business Selling Cleaning Products and/or Equipment

To help make the decision on which business, begin to identify:

Who your customer would be
How will you get your customers
What equipment will you need
How much will you charge
Will you handle the work yourself or bring on employees

Check back for the next steps in starting a window cleaning business or the cleaning business of your choice.

Starting a Non-Profit Business and Developing a Business Plan

admin — Mon, 01 Nov 2010 22:47:00 +0000

When you are considering starting a non-profit business you must consider if your cause will benefit from the creation of the non-profit or if you could contribute to an existing non-profit. If there are no non-profits championing your cause then it is time to create a non-profit.

You will need to determine if you want to be a legal non-profit or if you want to be a community program where your friends and family participate. A legal non-profit will have a bank account, board of directors and property that belongs to the non-profit. If you are going to collect donations, go after grants or be tax exempt, you will need to be a registered non-profit with a business plan and a 501 (c)(3). You will need to apply for this license and follow the specifications that your state requires in order to get this accreditation.

With a non-profit you will need to develop a mission statement. What are you working for? What are you going to do? Who is going to benefit? Why do you want to exist?

Non-profit business plans are very different from a traditional business plan in that they must follow strict legal guidelines, especially if you are going to register as a 501 (c)(3) organization. Additionally, you must have a board and an accountant.

Here is the list of things you will need to have in order to get started:

1.    Mission statement.
2.    Board of directors.
3.    Lawyer.
4.    Bank account.
5.    Accountant
6.    Liability insurance.
7.    Bylaws with board approval.
8.    File for incorporation, tax exemption and other tax exemptions (such as property tax exemption).
9.    Solicitation license.
10. Mail discount permit.
11. Federal employer ID.
12. Any other documents as required by your state.

When you are creating your business plan for your non-profit you will include a copy of the findings, filings and documents you developed in the list above. You will also include a list of other organizations in the area that are similar to yours, how you plan to get donations and what you plan
to do with those donations. You will also include a list of any employees you may need to have, including marketing and distribution employees. If you are going to need land or a warehouse, be sure to budget for it. Include all best-case scenario options in case of growth.

Starting a Training Business Plan

admin — Mon, 25 Oct 2010 14:35:01 +0000

Starting a training business requires some planning and forethought. Most trainers have had long careers in a specific industry before they begin training, but today stand outs like Timothy Ferris, who began training in his mid 20’s, have shown that young trainers, especially those who are well versed in social media and outsourced working, have a lot to share.

Training is all about sharing what you know. It typically involves topics that are of interest to large groups. It is always recommended that you have a proven track record of success in your field. As an example, Timothy Ferris was traveling the world,

making 40k a month and working 4 hours a week when he wrote his book. He is now a highly paid trainer for entrepreneurs.

If you are preparing a business plan for your training business, there are essential components that you will need to include.

Firstly, the executive summary comes at the beginning of your business plan, however, it is the last part of the plan you’ll want to write because it is a summary of the whole of your training business plan. It will detail what your business will be and what you will

need to start and grow your business.

You will need to be able to describe your training business. What you want to do with it and how you plan to make money. Are you going to sell a book? Are you going to have seminars? Be sure to detail your plans.

In the market strategies section of your training business plan you will want to be sure to detail exactly who it is that is going to need your training. Why should they listen to you? What makes you different? Are there any other trainers working around you that are teaching something similar? How are you going to price your training? How are you going to promote yourself? Finally, you’ll want to come up with an estimated earnings schedule that will give your potential investors an idea of what you expect to earn with your training business.
These are all important to detail in your training business plan because your potential investors will want to know why they should invest in you.
Next, you will want to dig into your competition. Who are they? Are they successful? Do they have a following? Be sure to check
them out online and see what they are doing and how they are doing it. Can they take business from you or are you competitors, but working completely differently? Try to find out what they are charging, what they are promoting and if they are selling anything other than advice. Be sure to include these details in your training business plan.

Design and Development is the next part of your training business plan. Ask yourself this question. Are you going to sell yourself or your product or both? If you are going to write a book, how long will it take to write it? What will it cost to write, print and promote it? What can you expect your work for? Are you going to need staff to help you?

List your expenses and expected income in a table. Do you have existing liabilities, assets or income from this business? Anything you can provide will help you and your potential investors determine if your plan is worth the risk.

How to Start a Home Business

admin — Mon, 25 Oct 2010 14:07:03 +0000

Working for yourself out of your own home can prove to be a convenient and affordable way to start your own business. But to achieve home business success means planning ahead, doing research, and taking the right basic steps to forge ahead.

The business idea.

A good idea for a home-based business is one that can run from the owner’s home or property while abiding local and state zoning and business laws. Living in a residential zone will likely prevent most home owners from using their property as a shop with foot traffic and truck deliveries beyond the usual residential UPS and FedEx visits. Food made for human consumption and marketed commercially will need to be inspected and prepared only under strict guidelines and usually requires a special business license and/or permit.

Some good ideas for a business are those that offer services to others (e.g., house cleaning business, pet sitting, bookkeeping, or virtual assistance), or use an online store to sell goods like gift baskets of pre-packed goods, collectibles, or crafts. None of these kinds of businesses usually require any special permit or violate any residential zoning laws.

Research.

Even if you already know a lot about the sort of business you want to run out of your home, research is indispensible. Libraries, bookstores and the internet have a wealth of information available to the budding entrepreneur. Studying what others have done in the past, for both better or worse, will help the home-business owner minimize errors and missteps, improving the odds of success and building confidence.

The business plan.

A business plan is a necessity for a home-based business. Even if the business is not seeking any outside funding or assistance, a business plan is essential for “proof of concept” and “thinking it through” purposes. A business plan will help the owner define their business, understand all their startup needs (inventory, office supplies, space requirements, special equipment, vendors, etc.), recognize potential roadblocks and counter the competition. Business plans don’t have to be long and fancy to be perfectly viable, nor must they be written by experts. Many free resources are available for the first-time entrepreneur to study, understand and create their own business plan.

Register the business name.

If a business owner wants to operate their business under any other name than their own, they will likely have to register their business name with the state they live in. They will also have to tell the state what type of business organization they will be using. For home-based businesses, a sole proprietorship is very common and probably the easiest kind of business to start and run with one person. A sole proprietor can use their own social security number (SSN) as their tax ID and if they decide to do business as themselves rather than another name, may not even have to register with the state. Check your own state government website for information on registering business names.

Prepare for commitment and hard work.

Businesses do not succeed overnight. In fact, small business failure rates are high. Never make the mistake of thinking that just because a business is run from the home, it’ll be easy and a no-brainer. A business owner must both want to succeed and be willing to work for it to have it happen.
Starting a home business is just the beginning of hard work and not even always the hardest. But learning from that hard work will go a long way towards success. So, when things seem tough, don’t give up! The home business dream can really be yours.

Your Business Plan: The Company Description

admin — Mon, 18 Oct 2010 23:26:37 +0000

Writing your business plan is the first step you, as a budding entrepreneur, should take after coming up with a great business idea. Writing the plan will help you focus and refine your business idea, examine it from all practical angles, and gather, then analyze important information on your market, your competition and what exactly you will need to succeed.
In a previous article, we addressed the first part of a business plan, the executive summary. In this installment, we move to the second chapter of a business plan: writing the company description.

What Defines a Company Description?
A company description is more than just a name and a product or service. The company description section of the business plan explains what the business will do, how the business will be organized, and often, some basic operating needs.

Mission Statement
A mission statement, simply put, is a formal declaration of a business or organizations purpose. Imagine someone approaching you on the street and, upon finding you own a business, asking you what your business does. Ideally, your answer will be your mission statement.
Organization
Businesses are organized in several ways. Each method has its own pros and cons. Here are a few basics about the most popular kinds of small business entities below.

Sole Proprietorship. Simply put, a sole proprietor is the only owner of an unincorporated business entity. In legal terms, he or she is the business; when the owner dies, so does the business. It is the simplest organization and is subject to less state and federal regulations than other types of businesses. The ease and simplicity of a sole proprietorship is the main advantage to it.
The disadvantages are that the owner and the business are not distinct entities; meaning he or she is legally and financially liable for any and all debts. Income from the business is taxed as part of the owner’s personal income, not separately.
General Partnership. A general partnership is when two or more people enter into a business to make a profit. A general partnership can be informal, but usually there is a written agreement detailing exactly how the partnership is to be arranged.
Like a sole proprietorship, a partnership is not a tax-paying entity; that is, taxes are paid by the owners as part of their personal tax returns per their share of the company. Each partner is also liable for the business debts or wrongdoing, whether it’s theirs, their partners or their employees.

Limited Liability Company (LLC). This is a very popular and relatively business entity. Limited Liability Companies blend aspects of a sole proprietorship, general partnerships and corporations. The main advantage to a single owner or partners is that an LLC affords a “corporate veil” where the business is distinct from the person owning it, allowing the owner limited protection against certain liabilities.
LLC’s can be taxed in a variety of ways, allowing the owner or owner’s greater flexibility in choosing the best taxation method for them.

Startup Operations
This section lists and describes any essential start up needs (a building, office equipment, inventory, permits, etc.). If your business has extensive operating needs (a factory, a lab, a lot of staff, etc.), you may wish to outline those operations details in a separate section. For some simpler businesses, especially home-based ones, operation details can be part of the company description.

For help in creating your plan, see the membership details at The Growth Keys