www.allbusiness.com
The Internet has opened up a whole new world of advertising and marketing for home-based businesses. Instead of having to spend tens of thousands of dollars on expensive print campaigns or mailings, you can now reach a global audience on a shoestring budget. Here are some of the popular and cost-effective ways that you can advertise your home-based business on the Internet.
Internet advertising can be broken down into three main categories:
1. Cost-per-click, where you only pay for actual clicks or leads for your advertising.
2. Cost-per-impression,
often referred to cost-per-thousand impressions or CPM, where you purchase a set amount of views for your ad.
3. Set-price advertising, where you can purchase a specific amount of advertising for a given length of time.
Cost-per-click advertising offers small business owners great value for their advertising dollar. There are several sites that offer the ability to pay only when customers click on your ads.
Google AdWords is one of the most popular advertising venues for small businesses. With the AdWords program, you bid on keywords related to your business, and your text ad is displayed when Google users search for that term. You pay only when a user clicks on your ad, and the cost per click varies according to the popularity of the keywords you select. Google AdWords does not require a minimum purchase, and you can easily spend less than $25 for a successful advertising campaign by utilizing AdWords properly.
Overture is another leading provider of cost-per-click advertising. Overture, which is owned by Yahoo, displays ads on a network of major search engines and portals, including MSN, CNN.com, and, of course, Yahoo.
Cost-per-impression advertising is waning in popularity, but it can still be an effective way to advertise your business. These ads are usually in the form of banners or buttons, and are sold by cost-per-thousand impressions, or displays of your ad. This means that if you purchase 5,000 impressions, your ad will display 5,000 times. There are no click guarantees, which makes this type of advertising less popular than pay-per-click advertising options. Most cost-per-impression ad campaigns have fairly steep minimum buys, which also makes them less attractive to home-based-business owners.
Set-price advertising includes running ads in newsletters, text ads, "premier listings" in directories, and many other types of advertising. This can be compared to advertising in your local newspaper. You may be charged per line of text, or a set amount determined by the publisher of your ad. Newsletter publishing is a great way to reach a targeted audience relatively cheaply. (Newsletter advertising may also be sold on a cost-per-click or cost-per-impression basis, too.)
Sunday, November 26, 2006
Friday, November 24, 2006
How Failed Business Can Lead To Success
Chuck Newman
www.recellular.net
In the late 1980s, Chuck Newman and some partners invested millions in a business centered on leasing cell phones. When the price of cell phones took a dive in the early 1990s, that suddenly became a very bad business model. But that business has evolved into ReCellular, whose 250 employees in Dexter, Michigan, recycle or reuse 75,000 phones per week. Is that a lot of phones? Yes and no. No other company keeps as many cell phones--and their heavy metals, including cadmium and lead--out of landfills. On the other hand, the EPA estimates that as many as 125 million cell phones will be retired this year in the United States alone, and most of them will simply be thrown out.
ReCellular has partnerships with wireless giants like Verizon and T-Mobile and retailers like Best Buy and Wal-Mart, all of which collect used cell phones and send them along to ReCellular, which either recycles them or rebuilds and resells them. About half of the rebuilt phones end up with domestic resellers, the other half in developing countries in Africa, South America, and Asia. They typically sell for $16 to $18, of which ReCellular's partners receive as much as $5 to $10 per phone for charities of their choosing.
Never mind that ReCellular has to maintain relationships with giant bureaucratic companies, with nonprofits, and with buyers all over the developing world. The most demanding part of this business is figuring out 500 to 600 different phone models. First, workers must identify which phone they are working with. They then identify the software the cell phone operates on, test the phone, and remove things such as personal information, photos, and wireless company logos.
Finally, they offer to reprogram the phone to its client's specifications. Of course, new phone models enter the stream all the time. "There isn't an effective blueprint to follow," says Mike Newman, Chuck Newman's son and ReCellular's vice president. Adds Chuck Newman: "I'm a big believer in the learning curve. We've had to be in the business long enough where we could execute this business model with efficiency and quality. We've processed more than 15 million so far, and we're getting really good at it."
www.recellular.net
In the late 1980s, Chuck Newman and some partners invested millions in a business centered on leasing cell phones. When the price of cell phones took a dive in the early 1990s, that suddenly became a very bad business model. But that business has evolved into ReCellular, whose 250 employees in Dexter, Michigan, recycle or reuse 75,000 phones per week. Is that a lot of phones? Yes and no. No other company keeps as many cell phones--and their heavy metals, including cadmium and lead--out of landfills. On the other hand, the EPA estimates that as many as 125 million cell phones will be retired this year in the United States alone, and most of them will simply be thrown out.
ReCellular has partnerships with wireless giants like Verizon and T-Mobile and retailers like Best Buy and Wal-Mart, all of which collect used cell phones and send them along to ReCellular, which either recycles them or rebuilds and resells them. About half of the rebuilt phones end up with domestic resellers, the other half in developing countries in Africa, South America, and Asia. They typically sell for $16 to $18, of which ReCellular's partners receive as much as $5 to $10 per phone for charities of their choosing.Never mind that ReCellular has to maintain relationships with giant bureaucratic companies, with nonprofits, and with buyers all over the developing world. The most demanding part of this business is figuring out 500 to 600 different phone models. First, workers must identify which phone they are working with. They then identify the software the cell phone operates on, test the phone, and remove things such as personal information, photos, and wireless company logos.
Finally, they offer to reprogram the phone to its client's specifications. Of course, new phone models enter the stream all the time. "There isn't an effective blueprint to follow," says Mike Newman, Chuck Newman's son and ReCellular's vice president. Adds Chuck Newman: "I'm a big believer in the learning curve. We've had to be in the business long enough where we could execute this business model with efficiency and quality. We've processed more than 15 million so far, and we're getting really good at it."
Thursday, November 23, 2006
How Scratched CD Made One Man Multimillionaire
www.digitalinnovations.com
As an engineering graduate student at the University of Texas at Austin in 1992, Joe Born loved the Clint Black album Killin' Time--but the CD had become scratched, causing it to skip during the song "A Better Man." Born says, "It was like having a stone in my shoe."
While pursuing his master's degree, Born worked part-time at an auto body shop. One day, while trying out an industrial paint buffer, he wondered if the same machine could be used to smooth out the scratches that had ruined the Clint Black CD.
After all, he knew that CDs are made of the same plastic as eye-glasses--polycarbonate--and that eye-glasses can be buffed. He also knew that the data on a CD resides beneath the outer plastic layer, so the music would be safe. After polishing the damaged CD with the car buffer, he popped it into a boom box, and "A Better Man" played flawlessly. Born received a patent for the idea in 1995.
The Payoff: With investments from friends and family, Born spent almost four years perfecting his invention. (An early prototype actually scratched discs while buffing them.) Just after winning the patent, he founded Digital Innovations, in Arlington Heights, Ill., and in 1999 the company released SkipDr, a $30 disc-repair unit that is now available at retailers such as Best Buy, Radio Shack, and Wal-Mart. Today, Digital Innovations markets 50 products that repair and clean CDs, DVDs, videogames, and office equipment. According to the privately held company, 2005 sales were about $25 million.
As an engineering graduate student at the University of Texas at Austin in 1992, Joe Born loved the Clint Black album Killin' Time--but the CD had become scratched, causing it to skip during the song "A Better Man." Born says, "It was like having a stone in my shoe."While pursuing his master's degree, Born worked part-time at an auto body shop. One day, while trying out an industrial paint buffer, he wondered if the same machine could be used to smooth out the scratches that had ruined the Clint Black CD.
After all, he knew that CDs are made of the same plastic as eye-glasses--polycarbonate--and that eye-glasses can be buffed. He also knew that the data on a CD resides beneath the outer plastic layer, so the music would be safe. After polishing the damaged CD with the car buffer, he popped it into a boom box, and "A Better Man" played flawlessly. Born received a patent for the idea in 1995.
The Payoff: With investments from friends and family, Born spent almost four years perfecting his invention. (An early prototype actually scratched discs while buffing them.) Just after winning the patent, he founded Digital Innovations, in Arlington Heights, Ill., and in 1999 the company released SkipDr, a $30 disc-repair unit that is now available at retailers such as Best Buy, Radio Shack, and Wal-Mart. Today, Digital Innovations markets 50 products that repair and clean CDs, DVDs, videogames, and office equipment. According to the privately held company, 2005 sales were about $25 million.
Tuesday, November 21, 2006
Finding Hidden Profits In Your Business - 7 Strategies To Use Today
By Mark Riffey
rescuemarketing.com
If I walked into your business and spent an afternoon, I'm fairly confident I could find several little hidden profit centers, just waiting to be used. Let's talk about 7 strategies for finding hidden gold in your business.
Strategy #1
Let someone else do the mopping and filing
When you "save money" by doing $8/hour work rather than letting someone else do it, you don't save money, and in fact - it costs your business MORE. You're stealing from yourself.
What should you be doing instead? Things like keeping your existing clients, finding new clients, working on your marketing, improving your products and services, creating new products and services, training your staff, business planning, and similar IMPORTANT work. Those are the things that your $8/hour teenager knows nothing about.
Strategy #2
Get a LOT closer to your existing clients
Don't believe me? How many businesses that you buy from have gone out of their way to see what else they can do to help your family or business life get even better after they sold you the first product or service. I'm guessing "Not many".
I want to know as much as I can about their clients. Why? Because that info is the key to figuring out what else your business can provide to those clients. They already trust you, why wouldn't you offer additional products and services to help them? Every additional product and service they can depend on you for will strengthen your relationship with them.
Strategy #3
SYSTEMATICALLY collecting and using testimonials
When you see a sign or brochure that says "We're the best mortgage broker in town", do you believe that? Doesnt everyone say that, or something similar? How do you know who to talk to?
Now consider this made-up testimonial: "Joe helped us figure out how to refinance the house even though my husband had been laid off. He helped us when everyone else told us it couldn't be done. Now my husband is working again and we're doing great. Joe believed in us like a friend when no one else would and I'll never forget that."- Mary Smith, Columbia Falls Montana.
Everyone feels they are taking a chance on your business the first time they come in. A believable testimonial from existing clients, with their full name and the city where they live, is extremely powerful. A picture of the smiling client with you is even more powerful.
Strategy #4
Measure, measure, measure.
A friend of mine is CFO for global wholesaler of furniture and home goods. One of her favorite sayings is "That which is measured will be managed." Boy is that a mouthful.
Do you know how much it costs your business to get a new client?
Do you know how much it costs your business to get a sale?
Can you tell me how many dollars you get back for each dollar you spend on each of your marketing campaigns, ads, etc?
If you can't answer these questions, how do you know which ads are helping you? How do you know which clients are profitable and which ones are sucking you dry?
Strategy #5
Industry norms are for people who like normal results
This is what everyone else does, so you should do it too, right? Most likely...WRONG. Industry norms are often artificial barriers, rules or benchmarks that were placed there by those at the top of the food chain in that industry. It's not your job to adhere to industry norms, it's your job to make your business the best that it can be.
Look at Domino's Pizza. 25 years ago, NO ONE delivered pizza to your house. I mean, who would possibly pay for THAT, right? Certainly, no one guaranteed they'd deliver hot pizza in 30 minutes or it was free. Take out and eat in pizza was the "industry norm". Domino's Tom Monaghan didn't pay attention to industry norms back then and neither should you today.
Strategy #6
Stop trying to beat Walmart at THEIR game
Everyone knows who has have the lowest prices in town, everyday, right? Walmart.
Let's pretend for a moment that you sell lawn mowers. Even worse, you sell the same brand that Walmart sells, but you might sell different models. Or maybe not.
Do you really think you are EVER going to be able to compete ON PRICE with a company that buys shiploads of mowers while you are buying them by the pallet? PLEASE.
If you really want to make money by competing with Walmart ON THEIR TERMS, go buy some KMart stock. Yeah, I thought so. Ok, Ive got that out of my system:)
You more than likely can't beat Walmart, at least not on price. You CAN co-exist and make a LOT of money doing so. In fact, you might considering putting your store next door to them in order to take advantage of the traffic.
Strategy #7
What we have here is a failure to communicate
The famous line from the movie "Cool Hand Luke", right? Well, your business most likely experiences this same failure: Not communicating often enough with your clients. Yeah, I know. You think this is common sense, but it'll never work for you cuz your business is different.
I'll tell you what. Let me start the same business as yours right down the street. You keep on doing what you're doing now. Meanwhile, I'll start sending your clients a monthly newsletter, weekly emails, birthday cards, anniversary cards, reminders about their frequent purchase benefits, recorded voice calls on special occasions, brief personal notes to them that include recent newspaper articles mentioning them or their kids (etc), and so on. A year from now, we'll see who they spend more $ with. If you're still around.
rescuemarketing.com
If I walked into your business and spent an afternoon, I'm fairly confident I could find several little hidden profit centers, just waiting to be used. Let's talk about 7 strategies for finding hidden gold in your business.
Strategy #1
Let someone else do the mopping and filing
When you "save money" by doing $8/hour work rather than letting someone else do it, you don't save money, and in fact - it costs your business MORE. You're stealing from yourself.
What should you be doing instead? Things like keeping your existing clients, finding new clients, working on your marketing, improving your products and services, creating new products and services, training your staff, business planning, and similar IMPORTANT work. Those are the things that your $8/hour teenager knows nothing about.
Strategy #2
Get a LOT closer to your existing clients
Don't believe me? How many businesses that you buy from have gone out of their way to see what else they can do to help your family or business life get even better after they sold you the first product or service. I'm guessing "Not many".
I want to know as much as I can about their clients. Why? Because that info is the key to figuring out what else your business can provide to those clients. They already trust you, why wouldn't you offer additional products and services to help them? Every additional product and service they can depend on you for will strengthen your relationship with them.
Strategy #3
SYSTEMATICALLY collecting and using testimonials
When you see a sign or brochure that says "We're the best mortgage broker in town", do you believe that? Doesnt everyone say that, or something similar? How do you know who to talk to?
Now consider this made-up testimonial: "Joe helped us figure out how to refinance the house even though my husband had been laid off. He helped us when everyone else told us it couldn't be done. Now my husband is working again and we're doing great. Joe believed in us like a friend when no one else would and I'll never forget that."- Mary Smith, Columbia Falls Montana.
Everyone feels they are taking a chance on your business the first time they come in. A believable testimonial from existing clients, with their full name and the city where they live, is extremely powerful. A picture of the smiling client with you is even more powerful.
Strategy #4
Measure, measure, measure.
A friend of mine is CFO for global wholesaler of furniture and home goods. One of her favorite sayings is "That which is measured will be managed." Boy is that a mouthful.
Do you know how much it costs your business to get a new client?
Do you know how much it costs your business to get a sale?
Can you tell me how many dollars you get back for each dollar you spend on each of your marketing campaigns, ads, etc?
If you can't answer these questions, how do you know which ads are helping you? How do you know which clients are profitable and which ones are sucking you dry?
Strategy #5
Industry norms are for people who like normal results
This is what everyone else does, so you should do it too, right? Most likely...WRONG. Industry norms are often artificial barriers, rules or benchmarks that were placed there by those at the top of the food chain in that industry. It's not your job to adhere to industry norms, it's your job to make your business the best that it can be.
Look at Domino's Pizza. 25 years ago, NO ONE delivered pizza to your house. I mean, who would possibly pay for THAT, right? Certainly, no one guaranteed they'd deliver hot pizza in 30 minutes or it was free. Take out and eat in pizza was the "industry norm". Domino's Tom Monaghan didn't pay attention to industry norms back then and neither should you today.
Strategy #6
Stop trying to beat Walmart at THEIR game
Everyone knows who has have the lowest prices in town, everyday, right? Walmart.
Let's pretend for a moment that you sell lawn mowers. Even worse, you sell the same brand that Walmart sells, but you might sell different models. Or maybe not.
Do you really think you are EVER going to be able to compete ON PRICE with a company that buys shiploads of mowers while you are buying them by the pallet? PLEASE.
If you really want to make money by competing with Walmart ON THEIR TERMS, go buy some KMart stock. Yeah, I thought so. Ok, Ive got that out of my system:)
You more than likely can't beat Walmart, at least not on price. You CAN co-exist and make a LOT of money doing so. In fact, you might considering putting your store next door to them in order to take advantage of the traffic.
Strategy #7
What we have here is a failure to communicate
The famous line from the movie "Cool Hand Luke", right? Well, your business most likely experiences this same failure: Not communicating often enough with your clients. Yeah, I know. You think this is common sense, but it'll never work for you cuz your business is different.
I'll tell you what. Let me start the same business as yours right down the street. You keep on doing what you're doing now. Meanwhile, I'll start sending your clients a monthly newsletter, weekly emails, birthday cards, anniversary cards, reminders about their frequent purchase benefits, recorded voice calls on special occasions, brief personal notes to them that include recent newspaper articles mentioning them or their kids (etc), and so on. A year from now, we'll see who they spend more $ with. If you're still around.
7 Tips to Affordably Promote Your Small Business Web Site
By Eve Jackson
www.detailssbs.com
I don’t know about you, but when I put my first web site up, I was outright disappointed with the results.
My first site looked pretty bad in retrospect, but when I’d finished designing it and had a few pages put up, I was excited to see it live.
One of the first things I did was check out my pages in google. Imagine my surprise when I typed my url into the search box and it said there were no results. I had no idea why.
Turns out your site has to be “indexed” before it’ll come up in the search engines.
Well, that was awhile ago and my site eventually did get indexed. And so, I waited for the sales to come in. Nothing.
I was puzzled and more than a little frustrated. What could I be doing wrong?
I started to research, and to make a long story short, one of the things I found was that I needed to promote it. (You’d think I might have known that, being in marketing and all, but marketing a web site is very different from other marketing strategies.)
There’s tons of information about promoting web sites – books, magazine and online articles galore. And very little space in a short article, but here’s a little of what I’ve found:
1. Before promoting your site, you want to make sure it’s ready to promote. If you’re not able to design a professional looking site, hire someone to do it. Design strongly affects credibility, and studies show visitors have viewing patterns that are very helpful when thinking about what to put where.
2. Add optimized content to your site as often as possible. (Most search engines “spider” your site more often if there’s regular changes to content.) And while we’re on the subject of content and search engines, web site content is different than copywriting for print. If you don’t base web site content on keyword phrases, your site will never be found.
3. Work on building links to your site because some search engines base their page ranking heavily on link building. But be careful with your link building campaign. Get them from quality sites with related content if you can. Don’t simply exchange links with someone else. Reciprocal linking used to work well, but search engines have gotten a whole lot smarter.
4. A great way to add content to your site, get incoming links and increase credibility all at the same time is through article marketing. Articles soon make you an expert in a subject. If they’re good articles, others will publish them, giving inbound links. And, of course, you can add them to your own site, but if you do, either make sure they’re indexed first on your site, or reword the article because content that’s seen as duplicate may not get indexed.
5. There are several places that offer free press releases. Write one and publish it any time your company has news for more links.
6. Add your company information to any business directories you find. There’s lots of free ones. DMOZ is particularly important.
7. Offer a free newsletter on your website in exchange for email addresses. Your company is only as good as its client and potential client list, and emails are a very inexpensive marketing tool. Just make sure you have permission from everyone on your email list. Nobody likes spam.
Well that’s about it for today’s tips on promoting your web site. I guess, I’d add one more thing. Remember to promote your company offline too. Add your url to every piece of printed material your company has. Ask them to visit your site, and while they’re there, to sign up for your newsletter.
Promoting your web site can be fun, but it’s also a lot of hard work. And it takes time. This is one place where patience can be a definite virtue.
www.detailssbs.com
I don’t know about you, but when I put my first web site up, I was outright disappointed with the results.
My first site looked pretty bad in retrospect, but when I’d finished designing it and had a few pages put up, I was excited to see it live.
One of the first things I did was check out my pages in google. Imagine my surprise when I typed my url into the search box and it said there were no results. I had no idea why.
Turns out your site has to be “indexed” before it’ll come up in the search engines.
Well, that was awhile ago and my site eventually did get indexed. And so, I waited for the sales to come in. Nothing.
I was puzzled and more than a little frustrated. What could I be doing wrong?
I started to research, and to make a long story short, one of the things I found was that I needed to promote it. (You’d think I might have known that, being in marketing and all, but marketing a web site is very different from other marketing strategies.)
There’s tons of information about promoting web sites – books, magazine and online articles galore. And very little space in a short article, but here’s a little of what I’ve found:
1. Before promoting your site, you want to make sure it’s ready to promote. If you’re not able to design a professional looking site, hire someone to do it. Design strongly affects credibility, and studies show visitors have viewing patterns that are very helpful when thinking about what to put where.
2. Add optimized content to your site as often as possible. (Most search engines “spider” your site more often if there’s regular changes to content.) And while we’re on the subject of content and search engines, web site content is different than copywriting for print. If you don’t base web site content on keyword phrases, your site will never be found.
3. Work on building links to your site because some search engines base their page ranking heavily on link building. But be careful with your link building campaign. Get them from quality sites with related content if you can. Don’t simply exchange links with someone else. Reciprocal linking used to work well, but search engines have gotten a whole lot smarter.
4. A great way to add content to your site, get incoming links and increase credibility all at the same time is through article marketing. Articles soon make you an expert in a subject. If they’re good articles, others will publish them, giving inbound links. And, of course, you can add them to your own site, but if you do, either make sure they’re indexed first on your site, or reword the article because content that’s seen as duplicate may not get indexed.
5. There are several places that offer free press releases. Write one and publish it any time your company has news for more links.
6. Add your company information to any business directories you find. There’s lots of free ones. DMOZ is particularly important.
7. Offer a free newsletter on your website in exchange for email addresses. Your company is only as good as its client and potential client list, and emails are a very inexpensive marketing tool. Just make sure you have permission from everyone on your email list. Nobody likes spam.
Well that’s about it for today’s tips on promoting your web site. I guess, I’d add one more thing. Remember to promote your company offline too. Add your url to every piece of printed material your company has. Ask them to visit your site, and while they’re there, to sign up for your newsletter.
Promoting your web site can be fun, but it’s also a lot of hard work. And it takes time. This is one place where patience can be a definite virtue.
Saturday, November 18, 2006
What Your Financial Planner Has Not Told You About a Self Directed IRA
By: Joshua Geary
MyRealEstateIRA
IRA investments do not just have to be about stocks, bonds and mutual funds. If you open a self directed IRA account with an appropriate self directed IRA trustee, as its owner you are entitled to make your own investment choices, including investing in business or real estate opportunities.
Why hasn't your financial planner told you about this? Financial planners will advise on opening self directed IRAs and other self direct retirement plans, but normally use banks and institutions that tend to limit clients to investing in their own product range. However, if you have experience in investing, or an entrepreneurial flare, you will realize how limiting this can be. A self directed IRA with an independent IRA trustee can open up a vast range of prospective investment opportunities to you.
For example, if you choose to self direct your IRA with a non-traditional IRA trustee, then you can buy a real estate investment property with your IRA funds. Not only can you purchase a real estate, but also you can also purchase a business. Using your funds to buy real estate or having IRA real estate holdings enables you to use the gains, both profits and capital, as part of your IRA and enjoy the tax advantages. It is important to get professional advice on how to set up your Real Estate IRA so that your funds can be legally invested through your IRA and used to build up your retirement funds, otherwise you could be found to have made early distributions from your IRA and be subject to severe IRS penalties. A self-directed IRA expert can show you how to run transactions through your IRA so that your retirement funds remain in compliance with IRS Regulations and so you can avoid prohibitive transactions.
Excerpt from the IRS flagship website www.irs.gov:
Are there any restrictions on the things I can invest my IRA in?
The law does not permit IRA funds to be invested in collectibles.
If your IRA invests in collectibles, the amount invested is considered distributed to you in the year invested. You may have to pay a 10% additional tax on early distributions.
Here are some examples of collectibles:
Artwork, Rugs, Antiques, Metals - there are exceptions for certain kinds of bullion, Gems, Stamps, Coins - there are exceptions for certain coins minted by the U.S. Treasury, Alcoholic beverages, and certain other tangible personal property.
Check Publication 590, Individual Retirement Arrangements (IRAs), for more information on collectibles...
Finally, IRA trustees are permitted to impose additional restrictions on investments. For example, because of administrative burdens, many IRA trustees do not permit IRA owners to invest IRA funds in real estate. IRA law does not prohibit investing in real estate, but trustees are not required to offer real estate as an option.
(Excerpt taken from the IRS Website)
There are many different kinds of real estate opportunities available nowadays to the prospective investor. Examples include -
Timberland * Commercial Real Estate * Foreclosures * Tax Certificates * Discounted Real Estate Paper * Other real estate like products
In all of these areas, a competent and experienced Self Directed IRA Specialist can show you how to set up an investment strategy to legally avoid the common pitfalls of investing in non-traditional assets with an IRA. Your investment future depends on it.
MyRealEstateIRA
IRA investments do not just have to be about stocks, bonds and mutual funds. If you open a self directed IRA account with an appropriate self directed IRA trustee, as its owner you are entitled to make your own investment choices, including investing in business or real estate opportunities.
Why hasn't your financial planner told you about this? Financial planners will advise on opening self directed IRAs and other self direct retirement plans, but normally use banks and institutions that tend to limit clients to investing in their own product range. However, if you have experience in investing, or an entrepreneurial flare, you will realize how limiting this can be. A self directed IRA with an independent IRA trustee can open up a vast range of prospective investment opportunities to you.
For example, if you choose to self direct your IRA with a non-traditional IRA trustee, then you can buy a real estate investment property with your IRA funds. Not only can you purchase a real estate, but also you can also purchase a business. Using your funds to buy real estate or having IRA real estate holdings enables you to use the gains, both profits and capital, as part of your IRA and enjoy the tax advantages. It is important to get professional advice on how to set up your Real Estate IRA so that your funds can be legally invested through your IRA and used to build up your retirement funds, otherwise you could be found to have made early distributions from your IRA and be subject to severe IRS penalties. A self-directed IRA expert can show you how to run transactions through your IRA so that your retirement funds remain in compliance with IRS Regulations and so you can avoid prohibitive transactions.
Excerpt from the IRS flagship website www.irs.gov:
Are there any restrictions on the things I can invest my IRA in?
The law does not permit IRA funds to be invested in collectibles.
If your IRA invests in collectibles, the amount invested is considered distributed to you in the year invested. You may have to pay a 10% additional tax on early distributions.
Here are some examples of collectibles:
Artwork, Rugs, Antiques, Metals - there are exceptions for certain kinds of bullion, Gems, Stamps, Coins - there are exceptions for certain coins minted by the U.S. Treasury, Alcoholic beverages, and certain other tangible personal property.
Check Publication 590, Individual Retirement Arrangements (IRAs), for more information on collectibles...
Finally, IRA trustees are permitted to impose additional restrictions on investments. For example, because of administrative burdens, many IRA trustees do not permit IRA owners to invest IRA funds in real estate. IRA law does not prohibit investing in real estate, but trustees are not required to offer real estate as an option.
(Excerpt taken from the IRS Website)
There are many different kinds of real estate opportunities available nowadays to the prospective investor. Examples include -
Timberland * Commercial Real Estate * Foreclosures * Tax Certificates * Discounted Real Estate Paper * Other real estate like products
In all of these areas, a competent and experienced Self Directed IRA Specialist can show you how to set up an investment strategy to legally avoid the common pitfalls of investing in non-traditional assets with an IRA. Your investment future depends on it.
Friday, November 17, 2006
Microsoft Launches Nationwide Contest for Most Innovative Small-Business Idea
Prize package includes $100,000 working capital, storefront for year, software tools.
NEW YORK - Nov. 15, 2006 - Microsoft Corp. today announced the Ultimate Challenge, a nationwide search for the most creative small-business idea in the country. The contest, which is live at www.ideawins.com, has been designed to spur the imagination and spirit of entrepreneurism that drives small businesses. The contest also supports the recent launch of Microsoft® Office Accounting Express 2007, Microsoft’s newest financial management solution that was released as a free download to help home-based and early startup businesses manage their finances. The winner - the business with the most innovative business idea - will receive $100,000 in business startup money, a Manhattan-area storefront for one year rent-free, and infrastructure and software to help run the business.
“We know there are lots of great ideas out there from people just waiting to start their own business, and we want to make their dream come true,” said Rajat Taneja, general manager of Small Business Applications and Services at Microsoft. “The Ultimate Challenge is all about getting entrepreneurs to take steps toward living their dream and pursuing the spirit of Americana. The idea behind this contest is to galvanize entrepreneurs into action and make sure they have the right tools, such as Office Accounting Express, to translate their vision into reality.”
Starting today Microsoft will review applications received through the www.ideawins.com Web site or submitted in person at upcoming Ultimate Challenge events. The deadline for submissions is Jan. 31, 2007. A three-judge panel will review the highest scoring applications to determine the four finalists that will be announced in February and the winner will be chosen in March.. Submissions will be judged and scored on the following criteria: marketing approach, financial and logistic feasibility, originality, and public interest. Each category will have a point value of 25 points and the total will determine the final score. The top scoring submissions will then be reviewed by the judges with a new scoring section - a vote from the public worth 4 points.
As part of the nationwide search, Microsoft will deploy the Ultimate Challenge Van, an RV tour that will begin its journey in Times Square on Nov. 28 and make stops in Las Vegas, Denver, Chicago, and Atlanta through January. The Ultimate Challenge Van will be a destination where contestants can go to submit their applications and meet Microsoft representatives as well as successful local business leaders to help finalize their www.ideawins.com contest submission.
The four contest finalists will be revealed in February to the public, which can then log on to the www.ideawins.com Web site to vote for the final winner who will receive the prize package.
About Microsoft Office Accounting Express 2007:Office Accounting Express 2007 consists of desktop software and seven integrated online services, designed in collaboration with industry leaders. Together, the software and services will enable businesses to harness the power of the Internet to sell products online, send invoices and receive payments electronically, process payroll, run credit reports, collaborate with their accountant, and more all from within their accounting application. The Office Accounting Express software will be available for free* while premium services are available at a charge. Office Accounting Express will be available on www.ideawins.com.
NEW YORK - Nov. 15, 2006 - Microsoft Corp. today announced the Ultimate Challenge, a nationwide search for the most creative small-business idea in the country. The contest, which is live at www.ideawins.com, has been designed to spur the imagination and spirit of entrepreneurism that drives small businesses. The contest also supports the recent launch of Microsoft® Office Accounting Express 2007, Microsoft’s newest financial management solution that was released as a free download to help home-based and early startup businesses manage their finances. The winner - the business with the most innovative business idea - will receive $100,000 in business startup money, a Manhattan-area storefront for one year rent-free, and infrastructure and software to help run the business.
“We know there are lots of great ideas out there from people just waiting to start their own business, and we want to make their dream come true,” said Rajat Taneja, general manager of Small Business Applications and Services at Microsoft. “The Ultimate Challenge is all about getting entrepreneurs to take steps toward living their dream and pursuing the spirit of Americana. The idea behind this contest is to galvanize entrepreneurs into action and make sure they have the right tools, such as Office Accounting Express, to translate their vision into reality.”
Starting today Microsoft will review applications received through the www.ideawins.com Web site or submitted in person at upcoming Ultimate Challenge events. The deadline for submissions is Jan. 31, 2007. A three-judge panel will review the highest scoring applications to determine the four finalists that will be announced in February and the winner will be chosen in March.. Submissions will be judged and scored on the following criteria: marketing approach, financial and logistic feasibility, originality, and public interest. Each category will have a point value of 25 points and the total will determine the final score. The top scoring submissions will then be reviewed by the judges with a new scoring section - a vote from the public worth 4 points.
As part of the nationwide search, Microsoft will deploy the Ultimate Challenge Van, an RV tour that will begin its journey in Times Square on Nov. 28 and make stops in Las Vegas, Denver, Chicago, and Atlanta through January. The Ultimate Challenge Van will be a destination where contestants can go to submit their applications and meet Microsoft representatives as well as successful local business leaders to help finalize their www.ideawins.com contest submission.
The four contest finalists will be revealed in February to the public, which can then log on to the www.ideawins.com Web site to vote for the final winner who will receive the prize package.
About Microsoft Office Accounting Express 2007:Office Accounting Express 2007 consists of desktop software and seven integrated online services, designed in collaboration with industry leaders. Together, the software and services will enable businesses to harness the power of the Internet to sell products online, send invoices and receive payments electronically, process payroll, run credit reports, collaborate with their accountant, and more all from within their accounting application. The Office Accounting Express software will be available for free* while premium services are available at a charge. Office Accounting Express will be available on www.ideawins.com.
Wednesday, November 15, 2006
Eight Tips for Start-Up Success
By Entrepreneur.com
If you're like most new or wannabe business owners, you want to hit a home run right from the start. And who can blame you? You're probably investing the majority of your life savings in your business, so you need it to succeed, right?
1. Cramer Video: Dangerous Groups
2. TheStreet.com Ratings: Best, Worst Health/Biotech Funds
3. Yahoo!'s Talent Keeps Bailing
4. Cramer Video: Wal-Mart Blinking
5. Tuesday's Tech Winners & Losers
Here are eight guidelines you'll want to follow to help you make sure the business you're starting or buying has a fighting chance to survive -- for both the short and long term:
1. Find something you'll enjoy daily. You're going to be working a lot of hours each week, most weeks of the year, without much time off at the start. It's important that you enjoy both what your company does and what running the company entails.
2. Don't start if you can't ensure a solid profit margin. So often people try to get by on the slimmest of margins and wonder why they don't enjoy owning their business for very long. Make sure your business will have a solid profit margin, which is vital to long-term success.
3. If it's your first business, think about buying an existing business or a franchise. You'll already have enough to learn about running your own business without having to invent everything yourself. Your first business will always be the toughest because you have so much to learn. An existing business or franchise provides a shortcut through much of that process.
4. Buy into a growing industry and market. Go to your industry association's Web site, and make sure your potential competitors aren't all going out of business. Then check into the growth rate of the city that'll provide your customer base. Remember, you're building your business for the long term, so think about how your company will evolve over a 10-year period. You want to have a good sense that there'll still be a demand for your product or service 10 years out.
If you're like most new or wannabe business owners, you want to hit a home run right from the start. And who can blame you? You're probably investing the majority of your life savings in your business, so you need it to succeed, right?
1. Cramer Video: Dangerous Groups
2. TheStreet.com Ratings: Best, Worst Health/Biotech Funds
3. Yahoo!'s Talent Keeps Bailing
4. Cramer Video: Wal-Mart Blinking
5. Tuesday's Tech Winners & Losers
Here are eight guidelines you'll want to follow to help you make sure the business you're starting or buying has a fighting chance to survive -- for both the short and long term:
1. Find something you'll enjoy daily. You're going to be working a lot of hours each week, most weeks of the year, without much time off at the start. It's important that you enjoy both what your company does and what running the company entails.
2. Don't start if you can't ensure a solid profit margin. So often people try to get by on the slimmest of margins and wonder why they don't enjoy owning their business for very long. Make sure your business will have a solid profit margin, which is vital to long-term success.
3. If it's your first business, think about buying an existing business or a franchise. You'll already have enough to learn about running your own business without having to invent everything yourself. Your first business will always be the toughest because you have so much to learn. An existing business or franchise provides a shortcut through much of that process.
4. Buy into a growing industry and market. Go to your industry association's Web site, and make sure your potential competitors aren't all going out of business. Then check into the growth rate of the city that'll provide your customer base. Remember, you're building your business for the long term, so think about how your company will evolve over a 10-year period. You want to have a good sense that there'll still be a demand for your product or service 10 years out.
Monday, November 13, 2006
Create An Online Entertainment Empire…On No Budget
Los Angeles Times:
Rory Scherer was a bored office drone working for a software company in Canada. “You know the movie ‘Office Space’?” he asked. “That was me.” These days however, Scherer is the proud, (if exhausted) writer, producer, project manager and publicist of “Mystery at Mansfield Manor,” a live-action, choose-your-own-adventure, murder mystery game available online. Here he tells us how he made it happen.
“I decided to make a choose-you’re your-own-adventure-style movie, and because this was going to be a new product I went back to school to get my MBA and learn how to make a business plan. My last semester I asked a professor if instead of taking a regular class I could write a business plan for an interactive movie.”
“I approached this project more from the business side as opposed to the artistic side, so I wrote the screenplay in a couple weeks because I just wanted to get it done.”
“I started shopping the idea around to toy companies and entertainment companies and they all said, ‘Sounds great. Show us a prototype.’ And then I realized with just a little more money than I would spend on a prototype I could put a complete production online.”
“Once I decided to do it on my own I got a small business loan and incorporated myself, hired a production company, had a casting call, and scouted locations. We filmed over 150 pages in five days and the whole video cost about $50,000 Canadian.”
“Most of our traffic now is just word of mouth. I’ve been contacting the media myself, getting articles written, linking with other mystery sites (mystery fans are very loyal fans). I’m still looking for an investor to help with traditional online marketing, like banner ads, because I don’t have the budget for it. I don’t have any more money to spend on publicity so that’s why I’m doing it myself.”
Mystery at Mansfield Manor launched in July and received 7,000 unique visitors in October.
Sunday, November 12, 2006
Entrepreneur Caters To Teens’ Rental Needs
Los Angeles Times:
Ben Bennani knows the risks and rewards of niche marketing. Find a niche — either by creating a demand or serving an overlooked clientele — and exploit it.
That philosophy came in handy a couple of years ago when Bennani was trying to revive the small car-rental firm he had acquired.
Casting about for ways to lure customers from rivals, Bennani focused on big agencies generally not renting cars to drivers ages 18 to 20. Here, he decided, was a pool of potential customers just waiting to be noticed.
It was a risky strategy; the big companies shun this age group for a reason. For one thing, U.S. drivers 18 to 20 are much more likely to be involved in an accident.
Then there’s the problem of payment and security. Renting a car typically requires a credit card — something many young people lack.
Bennani tackled the first problem in a couple of ways. He offers safety tips — a sort of informal driver’s ed course — to improve the odds that his cars will come back in one piece.
He also imposes restrictions on how far his younger customers can drive, usually 100 miles. If they exceed their limit, he will make a note in their file and threaten them with a ban.
Renters who return his cars in pristine condition are rewarded with $20 gift certificates to a French restaurant. Good behavior also warrants a free limo ride home.
On the financial front, Bennani requires a security deposit that can reach into the hundreds of dollars, which is charged either to the renter’s credit card or to the card of a friend or relative.
Drivers in the 18-to-20 bracket account for about one-quarter of Bennani’s business, and he plans to add the word “teens” to the company nameplate when he renews his business license next year.
Ben Bennani knows the risks and rewards of niche marketing. Find a niche — either by creating a demand or serving an overlooked clientele — and exploit it.
That philosophy came in handy a couple of years ago when Bennani was trying to revive the small car-rental firm he had acquired.
Casting about for ways to lure customers from rivals, Bennani focused on big agencies generally not renting cars to drivers ages 18 to 20. Here, he decided, was a pool of potential customers just waiting to be noticed.
It was a risky strategy; the big companies shun this age group for a reason. For one thing, U.S. drivers 18 to 20 are much more likely to be involved in an accident.
Then there’s the problem of payment and security. Renting a car typically requires a credit card — something many young people lack.
Bennani tackled the first problem in a couple of ways. He offers safety tips — a sort of informal driver’s ed course — to improve the odds that his cars will come back in one piece.
He also imposes restrictions on how far his younger customers can drive, usually 100 miles. If they exceed their limit, he will make a note in their file and threaten them with a ban.
Renters who return his cars in pristine condition are rewarded with $20 gift certificates to a French restaurant. Good behavior also warrants a free limo ride home.
On the financial front, Bennani requires a security deposit that can reach into the hundreds of dollars, which is charged either to the renter’s credit card or to the card of a friend or relative.
Drivers in the 18-to-20 bracket account for about one-quarter of Bennani’s business, and he plans to add the word “teens” to the company nameplate when he renews his business license next year.
Wednesday, November 08, 2006
Small Business Entity Formation – Protect Your Personal Assets
The following is a guest post by J. Shannon Cavers, of The Cavers Law Firm, LLC..
Many small businesses start as a part-time effort that grow over time, and eventually become a profit generating venture. One of the difficult questions for a small business owner is, “When do I need to form an entity?” A follow-up question is which type of entity to form such as a corporation (sub-chapter S or C Corporation), limited partnership (LP), limited liability partnership (LLP), or limited liability company (LLC).
The business person who is a sole proprietor should be aware that his/her liability is virtually unlimited. When you do not have the protection of an entity under which your business operates, it is your personal assets that are at risk. Therefore, if a party were to sue you, your personal assets would be exposed. Many states, such as Texas, offer homestead protection so that creditors cannot foreclose on an individual’s home, but such laws vary from state to state.
The formation of a legitimate business entity offers varying forms of protection for a business person’s personal assets. Entity formation is the process wherein one establishes an entity authorized to conduct business within a certain jurisdiction. In Texas, one would file entity formation papers through the Secretary of State’s office. Each state has a government office that handles entity formation. Generally, an entity can be created for as little as $50-$250 per application. Though this step often occurs later as a business grows, it is a small financial investment to make early on. Creating an entity also gives your business credibility in that you have taken the steps to define it as a functioning entity. The most common entity formed by a new start-up business is the LLC (Limited Liability Company). Limited liability companies are designed like partnerships, and therefore suitable to small businesses, but have asset protection similar to a corporation. When your entity is set up you will also receive a tax ID from the state comptroller. Therefore, you will likely have to file a franchise tax return in your state(s) of operation. You should also request a federal tax identification number (FEIN). You may want to consult a CPA to determine which type of entity offers the most tax advantages in your state.
The other component in protecting personal assets is to purchase business liability insurance. Most insurance carriers have business divisions which write general liability insurance polices. Contact your current carrier and see if you can obtain insurance this way. Additionally, you may be covered under your homeowner’s policy depending on the business you are in, anticipated revenues, and the potential exposure. Speak with your insurance carrier to find out what you need to do to protect yourself.
You can apply for the entity yourself or with the aid of an attorney. As mentioned earlier, you should speak with a tax attorney or CPA about which entity offers you the best tax advantage in your state.
Disclaimer: This article does not constitute legal advice nor does this create an attorney-client relationship.
Many small businesses start as a part-time effort that grow over time, and eventually become a profit generating venture. One of the difficult questions for a small business owner is, “When do I need to form an entity?” A follow-up question is which type of entity to form such as a corporation (sub-chapter S or C Corporation), limited partnership (LP), limited liability partnership (LLP), or limited liability company (LLC). The business person who is a sole proprietor should be aware that his/her liability is virtually unlimited. When you do not have the protection of an entity under which your business operates, it is your personal assets that are at risk. Therefore, if a party were to sue you, your personal assets would be exposed. Many states, such as Texas, offer homestead protection so that creditors cannot foreclose on an individual’s home, but such laws vary from state to state.
The formation of a legitimate business entity offers varying forms of protection for a business person’s personal assets. Entity formation is the process wherein one establishes an entity authorized to conduct business within a certain jurisdiction. In Texas, one would file entity formation papers through the Secretary of State’s office. Each state has a government office that handles entity formation. Generally, an entity can be created for as little as $50-$250 per application. Though this step often occurs later as a business grows, it is a small financial investment to make early on. Creating an entity also gives your business credibility in that you have taken the steps to define it as a functioning entity. The most common entity formed by a new start-up business is the LLC (Limited Liability Company). Limited liability companies are designed like partnerships, and therefore suitable to small businesses, but have asset protection similar to a corporation. When your entity is set up you will also receive a tax ID from the state comptroller. Therefore, you will likely have to file a franchise tax return in your state(s) of operation. You should also request a federal tax identification number (FEIN). You may want to consult a CPA to determine which type of entity offers the most tax advantages in your state.
The other component in protecting personal assets is to purchase business liability insurance. Most insurance carriers have business divisions which write general liability insurance polices. Contact your current carrier and see if you can obtain insurance this way. Additionally, you may be covered under your homeowner’s policy depending on the business you are in, anticipated revenues, and the potential exposure. Speak with your insurance carrier to find out what you need to do to protect yourself.
You can apply for the entity yourself or with the aid of an attorney. As mentioned earlier, you should speak with a tax attorney or CPA about which entity offers you the best tax advantage in your state.
Disclaimer: This article does not constitute legal advice nor does this create an attorney-client relationship.
5 Home Design Businesses to Start
If you’ve got a knack for interior design, painting or fix-it work, one of these business ideas could be your perfect opportunity.
By Eileen Figure Sandlin
There’s a good reason why cable TV networks like HGTV, The Learning Channel and DIY Network have such a huge following from coast to coast: The home design and improvement industry is hot, hot, hot and is showing no signs of cooling off. There may be no better time than the present to tool up your skills and fire up your enthusiasm for a career in this creative and fulfilling field.
But while Americans are keenly interested in home improvement and home design and have made household names out of “Extreme Makeover: Home Editions” Ty Pennington, professional organizer Peter Walsh from “Clean Sweep” and other home design show hosts, the fact is many don’t have the time, talent or inclination to undertake such projects themselves. Or they enthusiastically take up a paintbrush, rearrange the furniture or make a stab at organizing their lives, then toss up their hands in defeat when they realize it’s not as easy as it looks.
All this means there are plenty of opportunities for entrepreneurs like you to start what we are broadly calling a home design business. In our startup guide Home Design Services, we’ve outlined the information you need to start five different home design services: interior design, interior redesign, professional organizing, building preservation/restoration, and faux painting. Here’s a closer look at each of those businesses so you can get feel for the opportunities available in this industry, and what will fit your personality and creativity the best.
Interior Design
If you have a knack for planning spaces and coordinating furnishings and accessories, then this is the field for you. Interior designers (aka decorators, if they don’t hold a degree from an accredited university or college) beautify, improve and update the appearance and functionality of interior spaces in both residential and business settings. Many specialize in a particular type of design, like kitchen design or lighting solutions, and many augment their income by selling decorative products like accessories and furniture.
According to the 2004-05 Occupational Outlook Handbook (OOH), there are approximately 60,000 interior designers in the United States, one-third of whom are self-employed. This is the only design field regulated by the government—nearly half the states, the District of Colombia, Puerto Rico and seven Canadian provinces require licensing for interior designers. To become licensed, designers must pass a rigorous certification exam, which they can only take after they’ve accumulated six years of experience in the field and a college degree.
But this is not to say that you can’t become a designer if you don’t have these qualifications. Rather, if you live in one of the jurisdictions where licensing is required, you can call yourself a decorator instead and do all the same things a designer does and still be in compliance with local laws.
Employment prospects for designers are excellent, according to the OOH, which says, “Overall employment of designers is expected to grow about as fast as the average for all occupations through the year 2012.” So if this is your preferred trade, now is the time to launch a business.
Interior Redesign
Imagine taking stock of a person’s furnishings and decorative accessories, then rearranging or “repurposing” them in the same space. That’s the function of the interior redesigner, who uses design skills similar to those of the interior redesigner to work his or her magic. There are actually two career paths in interior redesign. The first is in residential or commercial redesign; the second is in real estate staging, in which the redesigner sizes up a home for sale and makes improvement and updating suggestions that can help the home sell faster.
Although the notion of interior redesign has been around for the past 20 years, the concept has only just caught on and become mainstream in the past five to seven years. As a result, there is no hard date or statistics to suggest exactly how many redesigners there are. But thanks to the efforts of a handful of people who blazed a trail in the field, redesign is now heating up. Shows like HGTV’s “Designed to Sell” are helping to make redesigners even more sought after.
Professional Organizer
This is another field that’s still in its infancy but growing fast. Professional organizers cut through the clutter in people’s homes and businesses to help them live simpler, more organized lives. They also develop customized organizational plans using filing and storage systems that their clients can live with and maintain easily.
While there aren’t any available statistics on the number of professional organizers practicing today, what is known is that the National Association of Professional Organizers, which was established in 1985, counts 3,200 people among its membership. There’s also a similar organization in Canada. Because there are no educational requirements, few equipment/tool costs and no licensing issues, this is one of the easiest home design businesses to establish.
Restoration/Preservation
This is the field that Bob Vila single-handedly launched in the mid-‘70s and is being perpetuated today by shows like “Restore America.” Restoration/preservation professionals (also known as conservationists) may specialize in one type of home project, such as carpentry, or may act as general contractors and handle various types of projects on homes and businesses that were built before 1930. (Anything after that date is considered to be from the modern era.)
You’ll find these pros engaged in just about any home building activity related to electricity, plaster, masonry, stucco, woodworking, tile, tin ceilings, painting, post and beam construction, and the preservation/conservation of vintage elements like horsehair plaster, fresco, adobe and lime plaster. These professionals also use their skills to preserve and save objects like furniture and accessories.
However, make no mistake: A restoration/preservation specialist doesn’t renovate. Rather, he or she either restores buildings or objects to their former state or preserves them in their current condition so there is no further deterioration.
Although there are no specific statistics available concerning people involved in historic preservation/restoration, it’s possible to get an idea of the potential in some of the individual home design categories from the 2004-05 OOH. For instance, the OOH says there were about 659,000 electrical jobs in 2002, and the median hourly earnings were nearly $20 an hour. There were about 1.2 million carpenter jobs, with a median wage of $16.44 per hour. The nation’s 59,000 plasterers and stucco masons earned a median wage of $15.91. Finally, construction managers held 389,000 jobs that same year, and their media wage was $63,500 annually. Opportunities for each of these occupations are expected to grow at a better than average rate through 2012.
While some of these wages may sound very low, keep in mind that the statistics refer mostly to employees. Self-employed people often earn much more. Plus when you factor in the sociality nature of preservation/restoration, you will find your earnings can be significantly higher.
And the work is definitely there. According to the National Trust for Historic Preservation Main Street Approach program, called Historic Preservation Equals Economic Development, 96,283 building rehabilitations undertake since 1980 in more than 1,700 communities have resulted in 244,543 jobs and 60,577 new businesses. So there’s room for you, too.
Faux Painting
This purely decorative art form is usually practiced by true artists, although it is possible to achieve a certain level of competence through hands-on instruction. “The key to success is being able to follow step-by-step instructions and take your time,” says faux painter Brian Bullard, who’s also owner of The Decorative Arts Center in St. Louis.
Faux painters apply decorative finishes to walls, ceilings, floors, furniture and accessories. They use paint, glazes and other media, and must be masters at mixing colors and applying them with just the right touch. Among the types of faux finishes popular today are marbling, precious stone, patina, trompe l’oeil and stenciling.
Bullard says that because of the specialty nature of the job and the technical skill involved, faux painters can earn $400 a day or more, or around $60 by the hour. Other faux painters say it’s possible to earn up to $1,000 a day depending on the size and scope of the project as well as who’s footing the bill.
Getting Started
One of the greatest advantages of starting a home design business is that it can be operated out of your home. That keeps overhead low, and you may be able to take a home business deduction on your taxes. If you start as a sole proprietorship as many home design business owners do, you will have few paperwork requirements when it comes to filing taxes. What’s more, you can operate any of these businesses without employees, and you often can start out with tools and materials you already have.
Of course, as a one-person business, you also will shoulder a lot more responsibility to keep the business running. For this reason, some home design businesspeople purchase a franchise. With a franchise, all the legal aspects are handled for you. You have access to prepackaged marketing and advertising, and you can use the name of a recognized company in your advertising. The problem is, franchise fees can be steep—often tens of thousands of dollars to as much as $100,000. But for some people, having all their ducks in a row is worth the extra money.
For more information on starting each of these five businesses, check out our extensive startup guide on Home Design Services.
By Eileen Figure Sandlin
There’s a good reason why cable TV networks like HGTV, The Learning Channel and DIY Network have such a huge following from coast to coast: The home design and improvement industry is hot, hot, hot and is showing no signs of cooling off. There may be no better time than the present to tool up your skills and fire up your enthusiasm for a career in this creative and fulfilling field.
But while Americans are keenly interested in home improvement and home design and have made household names out of “Extreme Makeover: Home Editions” Ty Pennington, professional organizer Peter Walsh from “Clean Sweep” and other home design show hosts, the fact is many don’t have the time, talent or inclination to undertake such projects themselves. Or they enthusiastically take up a paintbrush, rearrange the furniture or make a stab at organizing their lives, then toss up their hands in defeat when they realize it’s not as easy as it looks.
All this means there are plenty of opportunities for entrepreneurs like you to start what we are broadly calling a home design business. In our startup guide Home Design Services, we’ve outlined the information you need to start five different home design services: interior design, interior redesign, professional organizing, building preservation/restoration, and faux painting. Here’s a closer look at each of those businesses so you can get feel for the opportunities available in this industry, and what will fit your personality and creativity the best.
Interior Design
If you have a knack for planning spaces and coordinating furnishings and accessories, then this is the field for you. Interior designers (aka decorators, if they don’t hold a degree from an accredited university or college) beautify, improve and update the appearance and functionality of interior spaces in both residential and business settings. Many specialize in a particular type of design, like kitchen design or lighting solutions, and many augment their income by selling decorative products like accessories and furniture.
According to the 2004-05 Occupational Outlook Handbook (OOH), there are approximately 60,000 interior designers in the United States, one-third of whom are self-employed. This is the only design field regulated by the government—nearly half the states, the District of Colombia, Puerto Rico and seven Canadian provinces require licensing for interior designers. To become licensed, designers must pass a rigorous certification exam, which they can only take after they’ve accumulated six years of experience in the field and a college degree.
But this is not to say that you can’t become a designer if you don’t have these qualifications. Rather, if you live in one of the jurisdictions where licensing is required, you can call yourself a decorator instead and do all the same things a designer does and still be in compliance with local laws.
Employment prospects for designers are excellent, according to the OOH, which says, “Overall employment of designers is expected to grow about as fast as the average for all occupations through the year 2012.” So if this is your preferred trade, now is the time to launch a business.
Interior Redesign
Imagine taking stock of a person’s furnishings and decorative accessories, then rearranging or “repurposing” them in the same space. That’s the function of the interior redesigner, who uses design skills similar to those of the interior redesigner to work his or her magic. There are actually two career paths in interior redesign. The first is in residential or commercial redesign; the second is in real estate staging, in which the redesigner sizes up a home for sale and makes improvement and updating suggestions that can help the home sell faster.
Although the notion of interior redesign has been around for the past 20 years, the concept has only just caught on and become mainstream in the past five to seven years. As a result, there is no hard date or statistics to suggest exactly how many redesigners there are. But thanks to the efforts of a handful of people who blazed a trail in the field, redesign is now heating up. Shows like HGTV’s “Designed to Sell” are helping to make redesigners even more sought after.
Professional Organizer
This is another field that’s still in its infancy but growing fast. Professional organizers cut through the clutter in people’s homes and businesses to help them live simpler, more organized lives. They also develop customized organizational plans using filing and storage systems that their clients can live with and maintain easily.
While there aren’t any available statistics on the number of professional organizers practicing today, what is known is that the National Association of Professional Organizers, which was established in 1985, counts 3,200 people among its membership. There’s also a similar organization in Canada. Because there are no educational requirements, few equipment/tool costs and no licensing issues, this is one of the easiest home design businesses to establish.
Restoration/Preservation
This is the field that Bob Vila single-handedly launched in the mid-‘70s and is being perpetuated today by shows like “Restore America.” Restoration/preservation professionals (also known as conservationists) may specialize in one type of home project, such as carpentry, or may act as general contractors and handle various types of projects on homes and businesses that were built before 1930. (Anything after that date is considered to be from the modern era.)
You’ll find these pros engaged in just about any home building activity related to electricity, plaster, masonry, stucco, woodworking, tile, tin ceilings, painting, post and beam construction, and the preservation/conservation of vintage elements like horsehair plaster, fresco, adobe and lime plaster. These professionals also use their skills to preserve and save objects like furniture and accessories.
However, make no mistake: A restoration/preservation specialist doesn’t renovate. Rather, he or she either restores buildings or objects to their former state or preserves them in their current condition so there is no further deterioration.
Although there are no specific statistics available concerning people involved in historic preservation/restoration, it’s possible to get an idea of the potential in some of the individual home design categories from the 2004-05 OOH. For instance, the OOH says there were about 659,000 electrical jobs in 2002, and the median hourly earnings were nearly $20 an hour. There were about 1.2 million carpenter jobs, with a median wage of $16.44 per hour. The nation’s 59,000 plasterers and stucco masons earned a median wage of $15.91. Finally, construction managers held 389,000 jobs that same year, and their media wage was $63,500 annually. Opportunities for each of these occupations are expected to grow at a better than average rate through 2012.
While some of these wages may sound very low, keep in mind that the statistics refer mostly to employees. Self-employed people often earn much more. Plus when you factor in the sociality nature of preservation/restoration, you will find your earnings can be significantly higher.
And the work is definitely there. According to the National Trust for Historic Preservation Main Street Approach program, called Historic Preservation Equals Economic Development, 96,283 building rehabilitations undertake since 1980 in more than 1,700 communities have resulted in 244,543 jobs and 60,577 new businesses. So there’s room for you, too.
Faux Painting
This purely decorative art form is usually practiced by true artists, although it is possible to achieve a certain level of competence through hands-on instruction. “The key to success is being able to follow step-by-step instructions and take your time,” says faux painter Brian Bullard, who’s also owner of The Decorative Arts Center in St. Louis.
Faux painters apply decorative finishes to walls, ceilings, floors, furniture and accessories. They use paint, glazes and other media, and must be masters at mixing colors and applying them with just the right touch. Among the types of faux finishes popular today are marbling, precious stone, patina, trompe l’oeil and stenciling.
Bullard says that because of the specialty nature of the job and the technical skill involved, faux painters can earn $400 a day or more, or around $60 by the hour. Other faux painters say it’s possible to earn up to $1,000 a day depending on the size and scope of the project as well as who’s footing the bill.
Getting Started
One of the greatest advantages of starting a home design business is that it can be operated out of your home. That keeps overhead low, and you may be able to take a home business deduction on your taxes. If you start as a sole proprietorship as many home design business owners do, you will have few paperwork requirements when it comes to filing taxes. What’s more, you can operate any of these businesses without employees, and you often can start out with tools and materials you already have.
Of course, as a one-person business, you also will shoulder a lot more responsibility to keep the business running. For this reason, some home design businesspeople purchase a franchise. With a franchise, all the legal aspects are handled for you. You have access to prepackaged marketing and advertising, and you can use the name of a recognized company in your advertising. The problem is, franchise fees can be steep—often tens of thousands of dollars to as much as $100,000. But for some people, having all their ducks in a row is worth the extra money.
For more information on starting each of these five businesses, check out our extensive startup guide on Home Design Services.
Tuesday, November 07, 2006
Adsense Secrets
Adsense Secrets
By Joan Masterson
Pst! Wanna know some Adsense secrets? The only secret is that there are no secrets per se!
Do a search for Adsense secrets and you will be bombarded by a myriad of ads by trying to sell you the answers to making lots of money with Adsense.
Before you buy anything, my advise to you would be to do some research on a search engine and a bit of common sense. There are literally hundreds of forums where you can pick up valuable information, as well as hundreds of articles that have been written on the subject of Adsense.
Most of the answers are out there for you to find it you will put in a little bit of work. If you buy any of the ebooks available out there, you might find one little nugget of information that you may not have seen anywhere else, but I promise you: most of the time everything is out here on the Internet - all you have to do is search for it. Here are some of the search terms that I personally have used with great results:
increase adsense income
increase your adsense income
adsense experiments
adsense adsense tricks
adsense tips
What I can tell you from my own experience is this:
1. Ads at the top of the page and on the left of the page perfom better than any other ads. (Take a look at the "heatmap" from the Google link below)
2. Ads without background colour and borders perfom better than ads within borders with background colour.
3. Ads within content pages perform better than any other ads.
4. A search box on every page gives you another chance for earning Adsense income.
5. A blue link at the top of the ad, the ad in black, and the url also in black so that it blends in with the ad copy - also tends to perform well. A black url makes the link stand out and gives you a better chance of someone clicking on it.
Google has brought out some great Adsense optimization tips. You can read it here: Google Adsense optimization tips
Experiment with your settings and see which brings you the best results. Google's reporting has become a lot better in the last month or so, so you should instantly be able to see which ads result in better CTR.
To increase your site traffic, which obviously will increase your Adsense income, the best way to get traffic is to have fresh content at your site. Write your own articles and submit it to article directories like Go Articles etc. To find more article directories, just do a search for "free article directory submissions" on a search engine like Google.
Another way would be to publish articles by other authors that are relevant to your site content. You can find free articles all over the web by once again doing a search for e.g. "free site content".
Do this on a regular basis and watch your traffic (and your income) increase.
Joan Masterson is the owner of http://www.womenatwork.co.za - and http://www.set-4-success.com - sites that offers free work at home resources and information
By Joan Masterson
Pst! Wanna know some Adsense secrets? The only secret is that there are no secrets per se!
Do a search for Adsense secrets and you will be bombarded by a myriad of ads by trying to sell you the answers to making lots of money with Adsense.
Before you buy anything, my advise to you would be to do some research on a search engine and a bit of common sense. There are literally hundreds of forums where you can pick up valuable information, as well as hundreds of articles that have been written on the subject of Adsense.
Most of the answers are out there for you to find it you will put in a little bit of work. If you buy any of the ebooks available out there, you might find one little nugget of information that you may not have seen anywhere else, but I promise you: most of the time everything is out here on the Internet - all you have to do is search for it. Here are some of the search terms that I personally have used with great results:
increase adsense income
increase your adsense income
adsense experiments
adsense adsense tricks
adsense tips
What I can tell you from my own experience is this:
1. Ads at the top of the page and on the left of the page perfom better than any other ads. (Take a look at the "heatmap" from the Google link below)
2. Ads without background colour and borders perfom better than ads within borders with background colour.
3. Ads within content pages perform better than any other ads.
4. A search box on every page gives you another chance for earning Adsense income.
5. A blue link at the top of the ad, the ad in black, and the url also in black so that it blends in with the ad copy - also tends to perform well. A black url makes the link stand out and gives you a better chance of someone clicking on it.
Google has brought out some great Adsense optimization tips. You can read it here: Google Adsense optimization tips
Experiment with your settings and see which brings you the best results. Google's reporting has become a lot better in the last month or so, so you should instantly be able to see which ads result in better CTR.
To increase your site traffic, which obviously will increase your Adsense income, the best way to get traffic is to have fresh content at your site. Write your own articles and submit it to article directories like Go Articles etc. To find more article directories, just do a search for "free article directory submissions" on a search engine like Google.
Another way would be to publish articles by other authors that are relevant to your site content. You can find free articles all over the web by once again doing a search for e.g. "free site content".
Do this on a regular basis and watch your traffic (and your income) increase.
Joan Masterson is the owner of http://www.womenatwork.co.za - and http://www.set-4-success.com - sites that offers free work at home resources and information
Picking your subject for best Adsense results
Picking your subject for best Adsense results
aplawrence.com
No, this is not about going out and finding high paying keywords and writing copy designed to attract ads for those words. Well, it's a little bit about that, but without the soulless mercenary aspect.
I don't believe that most people can "write to order". Some can, of course. Give them a subject, let 'em do a little research, and they'll whip out an impressive made to order post. Most of us can't do that: go back and review your old school term papers if you think you can. If you find that those papers actually were interesting and educational, maybe you do have that knack, and I wish you well in what is bound to be a very lucrative blogging career.
But most of us write best when we already have a passion for our subject. If coin collecting is your fanatical hobby, you can probably write more enthusiastically about that than something you have little interest in. Maybe you could write to order, but it would be hard, right? Most of us would agree with that.
But that doesn't mean that you can't find the optimal keywords within your chosen category. For example, if you are equally capable of waxing on at length about mid 19th century American pattern coins (coins specially made, often to show proposed designs to Congress folk) or the subtleties of early English copper coins, it would make sense to write more about whichever attracts the higher paying ads and more appropriate ads. I don't mean that you shouldn't write about what you know well and want to expound upon, but if you have equal fervor for either subject, why not write mostly about the one that pays better?
aplawrence.com
No, this is not about going out and finding high paying keywords and writing copy designed to attract ads for those words. Well, it's a little bit about that, but without the soulless mercenary aspect.
I don't believe that most people can "write to order". Some can, of course. Give them a subject, let 'em do a little research, and they'll whip out an impressive made to order post. Most of us can't do that: go back and review your old school term papers if you think you can. If you find that those papers actually were interesting and educational, maybe you do have that knack, and I wish you well in what is bound to be a very lucrative blogging career.
But most of us write best when we already have a passion for our subject. If coin collecting is your fanatical hobby, you can probably write more enthusiastically about that than something you have little interest in. Maybe you could write to order, but it would be hard, right? Most of us would agree with that.
But that doesn't mean that you can't find the optimal keywords within your chosen category. For example, if you are equally capable of waxing on at length about mid 19th century American pattern coins (coins specially made, often to show proposed designs to Congress folk) or the subtleties of early English copper coins, it would make sense to write more about whichever attracts the higher paying ads and more appropriate ads. I don't mean that you shouldn't write about what you know well and want to expound upon, but if you have equal fervor for either subject, why not write mostly about the one that pays better?
Monday, November 06, 2006
Homeless-to-millionaire entrepreneur shares story
Homeless-to-millionaire entrepreneur shares story
coloradoan:
By TOM JOHNSON
Rags-to-riches entrepreneur Lucinda Yates spoke to an attentive crowd Wednesday at the Budweiser Events Center.
Yates spoke as part of bixpo, a business exposition presented by the Northern Colorado Business Report. Bixpo is a two-day exposition Wednesday and today at The Ranch, Larimer County's fairgrounds and events complex.
Yates' inspirational story has captivated audiences across the country. In the early 1980s, after a divorce and a financial setback, she and her young daughter were left homeless and impoverished. Through hard work and creativity, she was able to get her life back on track.
While homeless in Portland, Maine, Yates taught herself how to make jewelry. With the help of friends and family, she found a home and started over.
In 1983, with a roof over her head and a young child to support, Yates turned a tiny attic above her apartment into a studio, where she launched a line of hand-made jewelry. Over the next few years, demand for her work grew.
In 1989, in a moment of inspiration, she combined a rectangle with a triangle to create a metal pin in the shape of a house.
"I heard this voice go off inside my head that said, 'wouldn't this make a great fundraiser for the homeless?' " Yates said. "I don't know about you, but when I hear voices inside my head, I listen."
Yates contacted a local homeless shelter and encouraged the organization to use the pins to raise money for the homeless. She sold pins to the shelter for $6 each. The shelter, in turn, sold them for $10 and used the profits to support the organization.
A Realtor soon bought a pin, starting a national phenomenon. Realtors from across the country were soon using Yate's pins to raise money for the homeless.
"The first year, I grossed $89,000," said Yates. "The next year, I grossed $300,000, then $1.4 million, then $2.6 million. I had challenges you can't believe. I had no experience. I simply did the same things I did on the streets. When I ran into problems, I figured out a way to solve them."
Over the years, Yates' jewelry-making operation expanded from her 75-square-foot attic studio to 8,000 square feet of manufacturing space. The company now has a line of 11 theme-based fundraising pins, international distribution and a work force of more than 50 employees.
Designs By Lucinda now is a business dedicated to creating affordable jewelry for the purpose of bringing financial help and awareness to nonprofit organizations and their causes.
Since the company's inception in 1989, Designs By Lucinda has sold more than 4 million pins and helped raise more than $24 million for charitable organizations.
"People who hire me to speak are looking for an inspirational story," said Yates. "They're looking for a female entrepreneur who has actually done it from the ground up. There are plenty of women who went to Harvard and work for a Fortune 500 company. My story is, holy cow, where'd you come from? And how does your background tie into what you've achieved?"
coloradoan:
By TOM JOHNSON
Rags-to-riches entrepreneur Lucinda Yates spoke to an attentive crowd Wednesday at the Budweiser Events Center.
Yates spoke as part of bixpo, a business exposition presented by the Northern Colorado Business Report. Bixpo is a two-day exposition Wednesday and today at The Ranch, Larimer County's fairgrounds and events complex.
Yates' inspirational story has captivated audiences across the country. In the early 1980s, after a divorce and a financial setback, she and her young daughter were left homeless and impoverished. Through hard work and creativity, she was able to get her life back on track.
While homeless in Portland, Maine, Yates taught herself how to make jewelry. With the help of friends and family, she found a home and started over.
In 1983, with a roof over her head and a young child to support, Yates turned a tiny attic above her apartment into a studio, where she launched a line of hand-made jewelry. Over the next few years, demand for her work grew.
In 1989, in a moment of inspiration, she combined a rectangle with a triangle to create a metal pin in the shape of a house.
"I heard this voice go off inside my head that said, 'wouldn't this make a great fundraiser for the homeless?' " Yates said. "I don't know about you, but when I hear voices inside my head, I listen."
Yates contacted a local homeless shelter and encouraged the organization to use the pins to raise money for the homeless. She sold pins to the shelter for $6 each. The shelter, in turn, sold them for $10 and used the profits to support the organization.
A Realtor soon bought a pin, starting a national phenomenon. Realtors from across the country were soon using Yate's pins to raise money for the homeless.
"The first year, I grossed $89,000," said Yates. "The next year, I grossed $300,000, then $1.4 million, then $2.6 million. I had challenges you can't believe. I had no experience. I simply did the same things I did on the streets. When I ran into problems, I figured out a way to solve them."
Over the years, Yates' jewelry-making operation expanded from her 75-square-foot attic studio to 8,000 square feet of manufacturing space. The company now has a line of 11 theme-based fundraising pins, international distribution and a work force of more than 50 employees.
Designs By Lucinda now is a business dedicated to creating affordable jewelry for the purpose of bringing financial help and awareness to nonprofit organizations and their causes.
Since the company's inception in 1989, Designs By Lucinda has sold more than 4 million pins and helped raise more than $24 million for charitable organizations.
"People who hire me to speak are looking for an inspirational story," said Yates. "They're looking for a female entrepreneur who has actually done it from the ground up. There are plenty of women who went to Harvard and work for a Fortune 500 company. My story is, holy cow, where'd you come from? And how does your background tie into what you've achieved?"
Small Home Business Idea
Small Home Business Idea
www.provenwebwealth.com
By Gary Jezorski
I always find it amazing when people think that a small home business idea needs to also be small in profits and size. When the truth is, even a small home business idea can blossom into a veritable fortune with just a little bit of effort.
Think about some of the most famous companies out there. Did you know that Hewlett Packard was started in a garage? Or that Motorola was also a shoe string operation...nothing more than an idea really but that's all it takes to change your life.
One small idea from a home business or a fortune 500 company can mean the difference between outrageous wealth and struggling along in a 9 to 5 cubicle rat race. Now we know it's certainly a lot easier for a company like Apple to create the iPod than it is for you to invent it in your garage but what about the huge number of internet businesses that started with a small idea and just a little flexing of their Mastercard credit limits?
Did you know that YouTube.com was started just this way? Nothing but two guys, multiple credit cards and one small home business idea. It sure didn't take long before that little idea became a huge phenomena did it?
But here again, I'll admit that it's tough to hit upon an idea like YouTube or MySpace (not impossible by any stretch though) but is it reasonable for you to add 'just a little extra' to your monthly budget with a home business? A small idea could certainly be turned into a 'niche website' and niche websites are really what the internet is all about.
So let's quickly examine why this niche concept works on the internet but does not work in the 'brick and mortar' world. It all has to do with demographics and reach. Let's pick on an obscure niche like 'die cast replicars'.
If you were to open a strip mall store to sell these replicars, how many people in a 15 mile radius would know about your store? And how difficult would it be to advertise to this niche audience in a 15 mile radius? Pretty tough right?
And even if you could find these replicar fanatics with your advertising (likely expensive advertising), how far would they drive to come to your store? Can you start to see how tough this is getting and why your strip mall store is likely to fail a miserable flaming death?
Now flip this around and put your replicar business on the internet. For starters, you probably only have to shell out $2,500 for a full blown e-commerce website which is less than 1 month rent at most strip malls. After that, figure in about $30 a month in fixed costs and that's it. Your fist year business budget is less than $3,000...not bad in comparison is it?
But it gets a lot better because you’re no longer scrounging around searching for the replicar fanatics in a 15 mile area… you’re spanning the globe! Now you’re taking what used to be a niche product and selling to a global audience of over 5 billion people and think about how many replicar fanatics there are in a global market versus a 15 mile market. This is a truly amazing paradigm shift.
There is no longer a 'niche market' as we used to know it, there are no longer geographic sales borders and you no longer have to limit yourself to a small home business idea because there are no longer any small ideas...any idea can now become huge in a global market.
Start small with your home business...sure, best to walk before you run but don't think you need to limit yourself to staying small. Take your small idea and turn it into whatever you choose. There has never been a better time to work from home and there has never been a better time to turn a small idea into a large business.
Turn your small home business into a highly profitable money making machine.
www.provenwebwealth.com
By Gary Jezorski
I always find it amazing when people think that a small home business idea needs to also be small in profits and size. When the truth is, even a small home business idea can blossom into a veritable fortune with just a little bit of effort.
Think about some of the most famous companies out there. Did you know that Hewlett Packard was started in a garage? Or that Motorola was also a shoe string operation...nothing more than an idea really but that's all it takes to change your life.
One small idea from a home business or a fortune 500 company can mean the difference between outrageous wealth and struggling along in a 9 to 5 cubicle rat race. Now we know it's certainly a lot easier for a company like Apple to create the iPod than it is for you to invent it in your garage but what about the huge number of internet businesses that started with a small idea and just a little flexing of their Mastercard credit limits?
Did you know that YouTube.com was started just this way? Nothing but two guys, multiple credit cards and one small home business idea. It sure didn't take long before that little idea became a huge phenomena did it?
But here again, I'll admit that it's tough to hit upon an idea like YouTube or MySpace (not impossible by any stretch though) but is it reasonable for you to add 'just a little extra' to your monthly budget with a home business? A small idea could certainly be turned into a 'niche website' and niche websites are really what the internet is all about.
So let's quickly examine why this niche concept works on the internet but does not work in the 'brick and mortar' world. It all has to do with demographics and reach. Let's pick on an obscure niche like 'die cast replicars'.
If you were to open a strip mall store to sell these replicars, how many people in a 15 mile radius would know about your store? And how difficult would it be to advertise to this niche audience in a 15 mile radius? Pretty tough right?
And even if you could find these replicar fanatics with your advertising (likely expensive advertising), how far would they drive to come to your store? Can you start to see how tough this is getting and why your strip mall store is likely to fail a miserable flaming death?
Now flip this around and put your replicar business on the internet. For starters, you probably only have to shell out $2,500 for a full blown e-commerce website which is less than 1 month rent at most strip malls. After that, figure in about $30 a month in fixed costs and that's it. Your fist year business budget is less than $3,000...not bad in comparison is it?
But it gets a lot better because you’re no longer scrounging around searching for the replicar fanatics in a 15 mile area… you’re spanning the globe! Now you’re taking what used to be a niche product and selling to a global audience of over 5 billion people and think about how many replicar fanatics there are in a global market versus a 15 mile market. This is a truly amazing paradigm shift.
There is no longer a 'niche market' as we used to know it, there are no longer geographic sales borders and you no longer have to limit yourself to a small home business idea because there are no longer any small ideas...any idea can now become huge in a global market.
Start small with your home business...sure, best to walk before you run but don't think you need to limit yourself to staying small. Take your small idea and turn it into whatever you choose. There has never been a better time to work from home and there has never been a better time to turn a small idea into a large business.
Turn your small home business into a highly profitable money making machine.
25 Part-Time Business Ideas
Looking to earn some extra cash in your spare time? We've got 25 great ways to get started!
By Carla Goodman
entrepreneur:
Ever dream of running a part-time business while keeping your day job? Want to operate a sideline business along with your current business? Or are you simply curious about entrepreneurship, and want to test the waters before you commit to the world of commerce? Whatever your reason, here are 25 sure-fire ways to get started today with your own part-time business.
Antiques
Make new money from old treasures and have fun doing it! Scout garage sales, estate auctions and flea markets for great buys on antique furniture, toys, clothing and other treasures from the past. Rent space at antique cooperatives, or set up booths at weekend fairs to sell your antiques.
Computer Tutor
Whether you're an expert at Windows or Linux, desktop publishing or Web research, HTML or word processing, you can help anyone enhance their computer skills. Start promoting your computer-training services by teaching classes through organizations in your community which offer adult education courses.
Custom Jewelry and Accessories
Put your creative talents to work designing custom jewelry and accessories. Whether you work with sterling silver or recycled metals, clay or papier-mâché, there's a market for your custom earrings, pins, bracelets, necklaces and belt buckles at art shows, crafts fairs and holiday boutiques.
Espresso Cart
Brew up profits day after day! Specialty coffee drinks generate gross profits of 55.1 to 61.5 percent per cup, says the Specialty Coffee Association of America. So brush up on your coffee drinks, buy or rent an espresso cart, and head for sporting events, concerts and farmers' markets in your community.
Garage and Attic Cleaning/Hauling Service
Nobody likes to spend a weekend cleaning out the garage, attic or garden shed--it's dirty and time-consuming, and when it's done, there's still the task of hauling off all that discarded junk. But if you don't mind putting in the physical labor, a cleaning and hauling service can be a lot of fun. You can usually find a few treasures among the trash which most people are delighted to give away, and you can add to your income by recycling bottles, newspapers and metal castoffs. You'll need a pick-up truck or other vehicle capable of carrying everything from cast-iron sinks to old timbers.
Handyman
If it's broke, you can fix it. Your phone will ring off the hook with calls from homeowners, senior citizens and others who don't want to fix it themselves. Advertise in shopper publications and on bulletin boards, and drop off fliers at real estate offices. Then start repairing everything from leaky faucets to broken windows.
Home Inspection
Buyers need not beware when they hire a home inspector to conduct a complete physical checkup on their dream home. You'll inspect the house for structural problems and refer your clients to the contractors or handymen who can make the repairs. Knowledge of construction and your local building codes will get your business off the ground.
Medical Transcription
Work as an important member of a medical team without leaving your homebased office. There's big demand by hospitals, doctors, dentists, chiropractors and veterinarians who need outside help transcribing patient medical records. Training in medical terminology and linguistic skills will keep your business healthy.
Mobile Home-Entertainment Service
When it's dirty, disconnected or in need of repair, you'll save the day for homeowners who want their stereo, compact-disc player or videocassette recorder in working order. Brush up on your electrical and wiring know-how. Door-to-door fliers and calls to retail-store managers about your services will get your business off to a great start.
Mobile Window Tint
With some training and basic equipment, you'll be seeing plenty of green with your mobile window-tinting business. For best results, have a pager and van ready to help car, van and truck owners prevent heat damage to their vehicles' interiors. Other hot markets: homes, high-rise condominiums and office buildings.
Office and Home Organizer
Attention all neatniks: Help packrats, overworked executives, and other organizationally challenged individuals clean out messy closets, straighten files, and throw out the excess clutter. Putting your knack for neatness to part-time business use is bound to arrange some tidy profits for you.
Personal Chef
What's for dinner, honey? Great home-cooked meals for working parents and busy professionals who hire you as a personal chef. There's plenty of demand for this specialized service. So plan your menu, make out your shopping list, and go to work to satisfy your hungry clientele.
Personal Trainer
Pumping iron; pumping profits. Americans of all ages, sizes and shapes want to keep fit, trim and healthy, and they're willing to hire their own personal coach to exercise correctly. Spread the word about your physical-fitness expertise at health spas, running, swimming and biking clubs, and other athletic outlets.
Picture Framer
Get in the frame with a picture framing service. You can work with gallery owners, artists, portrait photographers and individuals who've purchased a print, painting or fine photo. If you aren't already a framing expert, read up, take classes at a local college or community center, then assemble your tools--including clamps, saws, miter boxes, glue, and a pneumatic or hand stapler. Establish relationships with local artists' groups, galleries, photographers and print shops that can give you their business or refer their customers to you.
Plant Leasing And Maintenance
Got a green thumb and a delivery van? You're all set to service corporations, home builders, health clubs and other businesses who want fresh greenery. Develop a steady clientele with a regular watering, pruning and fertilizing program and a full replacement guarantee.
Records Search
Using specialized databases, you'll search public records on your computer to help your clients find lost loves, check out questionable suitors, track down debtors, verify a contractor's track record, or dig up facts on a business opportunity. Clients include attorneys, businessowners and individuals.
Restaurant Delivery
Whether it's macaroni and cheese or a five-course gourmet meal, at-home meal replacement is fast becoming the newest way to dine. When customers want their restaurant orders "to go," you'll be "on the go" with your restaurant delivery service. A great way to make your late afternoons and weekends extra-profitable!
T-Shirt Design
If you're an artist in search of a medium, why not make T-shirts your canvas? Paint, draw, bead or appliqué your designs on plain T-shirts, and spend your weekends showcasing your art-to-wear at farmers' markets and crafts fairs.
Wallpaper Hanging
Help residential and commercial clients turn drab walls into works of art with your wallpaper-hanging skills. Build a growing business with great referrals and repeat customers. Drop off fliers at paint and wallpaper stores; also, advertise in shopper publications, in homeowner-association newsletters, and on bulletin boards at local supermarkets and malls.
Yoga and Tai Chi Instructor
In today's hectic, fast-paced world, parents, business owners and students alike can benefit from the deep-breathing, relaxation and centering techniques you can teach them. Get started by offering classes at health clubs, through your city's recreation and parks department, or on your own.
By Carla Goodman
entrepreneur:
Ever dream of running a part-time business while keeping your day job? Want to operate a sideline business along with your current business? Or are you simply curious about entrepreneurship, and want to test the waters before you commit to the world of commerce? Whatever your reason, here are 25 sure-fire ways to get started today with your own part-time business.
Antiques
Make new money from old treasures and have fun doing it! Scout garage sales, estate auctions and flea markets for great buys on antique furniture, toys, clothing and other treasures from the past. Rent space at antique cooperatives, or set up booths at weekend fairs to sell your antiques.
Computer Tutor
Whether you're an expert at Windows or Linux, desktop publishing or Web research, HTML or word processing, you can help anyone enhance their computer skills. Start promoting your computer-training services by teaching classes through organizations in your community which offer adult education courses.
Custom Jewelry and Accessories
Put your creative talents to work designing custom jewelry and accessories. Whether you work with sterling silver or recycled metals, clay or papier-mâché, there's a market for your custom earrings, pins, bracelets, necklaces and belt buckles at art shows, crafts fairs and holiday boutiques.
Espresso Cart
Brew up profits day after day! Specialty coffee drinks generate gross profits of 55.1 to 61.5 percent per cup, says the Specialty Coffee Association of America. So brush up on your coffee drinks, buy or rent an espresso cart, and head for sporting events, concerts and farmers' markets in your community.
Garage and Attic Cleaning/Hauling Service
Nobody likes to spend a weekend cleaning out the garage, attic or garden shed--it's dirty and time-consuming, and when it's done, there's still the task of hauling off all that discarded junk. But if you don't mind putting in the physical labor, a cleaning and hauling service can be a lot of fun. You can usually find a few treasures among the trash which most people are delighted to give away, and you can add to your income by recycling bottles, newspapers and metal castoffs. You'll need a pick-up truck or other vehicle capable of carrying everything from cast-iron sinks to old timbers.
Handyman
If it's broke, you can fix it. Your phone will ring off the hook with calls from homeowners, senior citizens and others who don't want to fix it themselves. Advertise in shopper publications and on bulletin boards, and drop off fliers at real estate offices. Then start repairing everything from leaky faucets to broken windows.
Home Inspection
Buyers need not beware when they hire a home inspector to conduct a complete physical checkup on their dream home. You'll inspect the house for structural problems and refer your clients to the contractors or handymen who can make the repairs. Knowledge of construction and your local building codes will get your business off the ground.
Medical Transcription
Work as an important member of a medical team without leaving your homebased office. There's big demand by hospitals, doctors, dentists, chiropractors and veterinarians who need outside help transcribing patient medical records. Training in medical terminology and linguistic skills will keep your business healthy.
Mobile Home-Entertainment Service
When it's dirty, disconnected or in need of repair, you'll save the day for homeowners who want their stereo, compact-disc player or videocassette recorder in working order. Brush up on your electrical and wiring know-how. Door-to-door fliers and calls to retail-store managers about your services will get your business off to a great start.
Mobile Window Tint
With some training and basic equipment, you'll be seeing plenty of green with your mobile window-tinting business. For best results, have a pager and van ready to help car, van and truck owners prevent heat damage to their vehicles' interiors. Other hot markets: homes, high-rise condominiums and office buildings.
Office and Home Organizer
Attention all neatniks: Help packrats, overworked executives, and other organizationally challenged individuals clean out messy closets, straighten files, and throw out the excess clutter. Putting your knack for neatness to part-time business use is bound to arrange some tidy profits for you.
Personal Chef
What's for dinner, honey? Great home-cooked meals for working parents and busy professionals who hire you as a personal chef. There's plenty of demand for this specialized service. So plan your menu, make out your shopping list, and go to work to satisfy your hungry clientele.
Personal Trainer
Pumping iron; pumping profits. Americans of all ages, sizes and shapes want to keep fit, trim and healthy, and they're willing to hire their own personal coach to exercise correctly. Spread the word about your physical-fitness expertise at health spas, running, swimming and biking clubs, and other athletic outlets.
Picture Framer
Get in the frame with a picture framing service. You can work with gallery owners, artists, portrait photographers and individuals who've purchased a print, painting or fine photo. If you aren't already a framing expert, read up, take classes at a local college or community center, then assemble your tools--including clamps, saws, miter boxes, glue, and a pneumatic or hand stapler. Establish relationships with local artists' groups, galleries, photographers and print shops that can give you their business or refer their customers to you.
Plant Leasing And Maintenance
Got a green thumb and a delivery van? You're all set to service corporations, home builders, health clubs and other businesses who want fresh greenery. Develop a steady clientele with a regular watering, pruning and fertilizing program and a full replacement guarantee.
Records Search
Using specialized databases, you'll search public records on your computer to help your clients find lost loves, check out questionable suitors, track down debtors, verify a contractor's track record, or dig up facts on a business opportunity. Clients include attorneys, businessowners and individuals.
Restaurant Delivery
Whether it's macaroni and cheese or a five-course gourmet meal, at-home meal replacement is fast becoming the newest way to dine. When customers want their restaurant orders "to go," you'll be "on the go" with your restaurant delivery service. A great way to make your late afternoons and weekends extra-profitable!
T-Shirt Design
If you're an artist in search of a medium, why not make T-shirts your canvas? Paint, draw, bead or appliqué your designs on plain T-shirts, and spend your weekends showcasing your art-to-wear at farmers' markets and crafts fairs.
Wallpaper Hanging
Help residential and commercial clients turn drab walls into works of art with your wallpaper-hanging skills. Build a growing business with great referrals and repeat customers. Drop off fliers at paint and wallpaper stores; also, advertise in shopper publications, in homeowner-association newsletters, and on bulletin boards at local supermarkets and malls.
Yoga and Tai Chi Instructor
In today's hectic, fast-paced world, parents, business owners and students alike can benefit from the deep-breathing, relaxation and centering techniques you can teach them. Get started by offering classes at health clubs, through your city's recreation and parks department, or on your own.
Sunday, November 05, 2006
How To Research Niche Ideas For FREE.
How To Research Niche Ideas For FREE press release
Terry Mil
business.press-world:
A brilliant, fast, easy, and above all completely FREE way to research Niche Ideas. Also a good way to try the idea you may have already!
If you weren't aware of it, amazon.com is the largest bookseller in the world. So if your looking to create your own info products, this can be a great way to research your idea. You simply do a search at amazon.com and find out if your idea is a good seller.
If you find high ranking books in your search results then you onto a winner. It's a good indication of market demand for books on this subject. Amazon makes this easy to do too.
Amazon offers over 1 million books. Amazon offers a vast array of titles to choose from and ranks them according to the sales volume. This gives you real time feedback at the click of a mouse.
Follow these steps:
Go to amazon.com. You will see a search box on the left. Set your search to ''books'' and then type in your search term. For this example, and type your area interest. This will take you to a results page that lists all the results. Next you can click on the first book listed that comes up and that will take you off to another page that will give you a more detailed description of what the book is about and its ranking. Your ranking will obviously be out of over a million. I would say that anything in the top 5% of books selling would be a good start. It proves that there is interest in what you searched for.
If you've got and idea for an info product try your idea out at amazon first. This way you can find out if your idea is a winner or a dud before any investment is made. If you find similar products that are ranked well this means people are buying it. It also may mean you can create your own unique product around this topic. You may wish to purchase one or two of the more highly ranked books. This'll help immensely when creating your product. Just be aware of the powerful, and the best of all free, resource you have in Amazon. Use it and prosper.
Also take into consideration that Amazon has a massive customer base. It means that we can see trends emerging while they are actually happening in the USA. And when things take of in USA they really take off all over the world.
So by doing this research, you can get a head start on other marketers doing the same research. But then its what you do with the information that counts.
If you just sit on it and wait you may just be too late to cash in with the idea. If you take action and create something special not tied in with major trends that are just emerging here, well then you have positioned yourself well for success.
You can use this over and over for each new idea that you get. That way your results will be more accurate.
Terry Mil
business.press-world:
A brilliant, fast, easy, and above all completely FREE way to research Niche Ideas. Also a good way to try the idea you may have already!
If you weren't aware of it, amazon.com is the largest bookseller in the world. So if your looking to create your own info products, this can be a great way to research your idea. You simply do a search at amazon.com and find out if your idea is a good seller.
If you find high ranking books in your search results then you onto a winner. It's a good indication of market demand for books on this subject. Amazon makes this easy to do too.
Amazon offers over 1 million books. Amazon offers a vast array of titles to choose from and ranks them according to the sales volume. This gives you real time feedback at the click of a mouse.
Follow these steps:
Go to amazon.com. You will see a search box on the left. Set your search to ''books'' and then type in your search term. For this example, and type your area interest. This will take you to a results page that lists all the results. Next you can click on the first book listed that comes up and that will take you off to another page that will give you a more detailed description of what the book is about and its ranking. Your ranking will obviously be out of over a million. I would say that anything in the top 5% of books selling would be a good start. It proves that there is interest in what you searched for.
If you've got and idea for an info product try your idea out at amazon first. This way you can find out if your idea is a winner or a dud before any investment is made. If you find similar products that are ranked well this means people are buying it. It also may mean you can create your own unique product around this topic. You may wish to purchase one or two of the more highly ranked books. This'll help immensely when creating your product. Just be aware of the powerful, and the best of all free, resource you have in Amazon. Use it and prosper.
Also take into consideration that Amazon has a massive customer base. It means that we can see trends emerging while they are actually happening in the USA. And when things take of in USA they really take off all over the world.
So by doing this research, you can get a head start on other marketers doing the same research. But then its what you do with the information that counts.
If you just sit on it and wait you may just be too late to cash in with the idea. If you take action and create something special not tied in with major trends that are just emerging here, well then you have positioned yourself well for success.
You can use this over and over for each new idea that you get. That way your results will be more accurate.
Saturday, November 04, 2006
How To Print A Carpet
http://tricycleinc.com/
In a time of global warming and PCB-filled streams, fabric carpet samples might not seem like a pressing environmental issue, but consider the numbers. An average order of 30 carpet samples, each 18 inches on a side, uses more than seven gallons of oil to create 45 pounds of carpet, most of which architects and interior designers throw away after a single use. Cost: $500 to $1,200, which the big carpet mills pay; samples take up about 8 percent of their revenue.
Outside Dalton, Ga., where giant mills manufacture about 80 percent of the U.S. carpet supply, a 32-person startup is out to replace fabric samples with versions made of recycled paper. Tricycle (tricycleinc.com), based in Chattanooga, sells high-end optical technology that creates paper samples so life-like that designers have a hard time distinguishing them from fabric versions.
"The carpet industry has been the antithesis of environmentally friendly for the past ten years," says Bo Barber, founder of carpet maker Nood Floorcovering, a Tricycle client based in Ponte Vedra Beach, Fla. "Tricycle's influencing everybody - not only is it alleviating the time and money associated with custom-made carpet, but it's alleviating the environmental impact."
Tricycle's software generates computer printouts that replicate the colors and texture of carpeting using computer-animated design and sophisticated models of a mill's tufting machines.
To use the technology, manufacturers create a database by entering hundreds of variables - colors, types of fiber, different treads and pile heights - into a software program. Tricycle charges $250,000 to $1 million to set up the database. When a client wants to see what a particular carpet looks like, the mill can create and order samples online and send him stacks of precisely colored paper.
Jonathan Bragdon and Michael Hendrix, ex-Web developers, founded Tricycle in 2002 after landing a job with a carpet maker a year earlier. "We saw an opportunity to make a big impact," says Hendrix, 34. He estimates that Tricycle's technology saves manufacturers 70 percent of the costs associated with samples, about $5 million a year.
In 2005 manufacturers shipped about 34,000 paper samples, saving 8,611 gallons of oil and 51,665 pounds of carpet from being sent to landfills. That's a small footprint - samples take up less than 10 percent of U.S. landfills - but Tricycle has bigger plans. The company, with revenues of nearly $10 million last year, plans to expand into other design markets, replicating textiles, wallpaper, and wood. Says Bragdon, 37: "Our future is being able to show every available surface."
In a time of global warming and PCB-filled streams, fabric carpet samples might not seem like a pressing environmental issue, but consider the numbers. An average order of 30 carpet samples, each 18 inches on a side, uses more than seven gallons of oil to create 45 pounds of carpet, most of which architects and interior designers throw away after a single use. Cost: $500 to $1,200, which the big carpet mills pay; samples take up about 8 percent of their revenue.
Outside Dalton, Ga., where giant mills manufacture about 80 percent of the U.S. carpet supply, a 32-person startup is out to replace fabric samples with versions made of recycled paper. Tricycle (tricycleinc.com), based in Chattanooga, sells high-end optical technology that creates paper samples so life-like that designers have a hard time distinguishing them from fabric versions.
"The carpet industry has been the antithesis of environmentally friendly for the past ten years," says Bo Barber, founder of carpet maker Nood Floorcovering, a Tricycle client based in Ponte Vedra Beach, Fla. "Tricycle's influencing everybody - not only is it alleviating the time and money associated with custom-made carpet, but it's alleviating the environmental impact."
Tricycle's software generates computer printouts that replicate the colors and texture of carpeting using computer-animated design and sophisticated models of a mill's tufting machines.
To use the technology, manufacturers create a database by entering hundreds of variables - colors, types of fiber, different treads and pile heights - into a software program. Tricycle charges $250,000 to $1 million to set up the database. When a client wants to see what a particular carpet looks like, the mill can create and order samples online and send him stacks of precisely colored paper.
Jonathan Bragdon and Michael Hendrix, ex-Web developers, founded Tricycle in 2002 after landing a job with a carpet maker a year earlier. "We saw an opportunity to make a big impact," says Hendrix, 34. He estimates that Tricycle's technology saves manufacturers 70 percent of the costs associated with samples, about $5 million a year.
In 2005 manufacturers shipped about 34,000 paper samples, saving 8,611 gallons of oil and 51,665 pounds of carpet from being sent to landfills. That's a small footprint - samples take up less than 10 percent of U.S. landfills - but Tricycle has bigger plans. The company, with revenues of nearly $10 million last year, plans to expand into other design markets, replicating textiles, wallpaper, and wood. Says Bragdon, 37: "Our future is being able to show every available surface."
Thursday, November 02, 2006
For Parents By Parents
Sharon Mullen Story
http://www.inventiveparent.com/
In 1997, Sharon Mullen made the decision to leave the "real" world of employed and began to work on several projects. One of these projects was the development of her Cozy Line, attachable blankets for car seats, joggers, bike seats, wheelchairs, etc. Says Sharon, "This cozy was made because we were made crazy by our son's blanket-- blankie, actually-- slipping off the stroller, falling off the car seat, coming untucked, blowing in the breezes, etc. No one else made what we wanted, so I made one myself!"
As she was doing research to protect her intellectual property, she came across a number of other parents who had developed products and built businesses around their products. At this time, Sharon was only selling her own product on her website and thought that if she could sell other parents' innovative products, she could bring more traffic to her website and she could help other parents develop their businesses. Thus, http://www.inventiveparent.com was born in June 2000. She started with 4 product lines and today she has over 100 parent-invented products for sale on her her site.
The vast majority of the products that Sharon carries were discovered at the Juvenile Products Manufacturer's Association (JPMA). She holds most of her products in inventory to ensure the best customer service and fastest delivery. She recently started adding some drop-ship items, items that are too heavy to reasonably ship from the manufacturer to her, and then out again. However, the drop shipping arrangement must meet her regular policies (shipping out within a day, tracking number, etc).
Sharon's site is unique in that it doesn't simply sell the products. Her products provide solutions to problems in parents' everyday lives and her site helps parents find the right products. She has a "Problem Solved" section where she lists problems like, "I finally found sunglasses for my kids, 4 mo & 3 yrs, but they always fall off. What can I do?" and the answer to this problem is a product invented by a parent.
Perhaps the most popular service on her website is a listing of car seat regulations across the country. Her November newsletter includes an article on why babies need to be rear-facing. Sharon is most often asked why a baby needs to be rear-facing, then why an older child still needs to be in a car seat (NHTSA now recommends that kids stay in seats through 8yrs/80lbs, or to 4'9"). Her next newsletter challenge is to offer tips for getting a kid back into a "baby seat!"
Sharon has helpful advice on her website for aspiring inventors and a number of useful links. She offers the following advice to our readers who may have an invention on the horizon, "Essentially, you need to protect your intellectual property and be ruthless in your evaluation of its ability to make it in the marketplace...Be prepared to do your own research, if only so you can communicate with your attorney. Do not use one of those invention submission companies. Inventors are headed down a road of hard work and expense. Often the road leads nowhere, sometimes it leads to great rewards and riches, many times it just keeps going."
Sharon runs most of her business online, but she does attend various consumer events, such as Baby Fairs. Sharon says the key to online success is to be found and to be trusted before you can sell anything. You do this the same way you do with any brick and mortar business, she explains: "You join the Better Business Bureau and other such services, connect with other complimentary businesses, employ programs to create repeat customers and provide excellent customer service." Sharon rises every morning with her husband and son and they always have breakfast together. After her son goes to school, Sharon and her husband "go off to work".
They are both home based business people and they have their own home offices. Sharon says she makes every effort not to mix work and parenting. Her office is a converted garage space and is very separate from her home. So, when she is at work, she is not also at home and vice versa.
http://www.inventiveparent.com/
In 1997, Sharon Mullen made the decision to leave the "real" world of employed and began to work on several projects. One of these projects was the development of her Cozy Line, attachable blankets for car seats, joggers, bike seats, wheelchairs, etc. Says Sharon, "This cozy was made because we were made crazy by our son's blanket-- blankie, actually-- slipping off the stroller, falling off the car seat, coming untucked, blowing in the breezes, etc. No one else made what we wanted, so I made one myself!"
As she was doing research to protect her intellectual property, she came across a number of other parents who had developed products and built businesses around their products. At this time, Sharon was only selling her own product on her website and thought that if she could sell other parents' innovative products, she could bring more traffic to her website and she could help other parents develop their businesses. Thus, http://www.inventiveparent.com was born in June 2000. She started with 4 product lines and today she has over 100 parent-invented products for sale on her her site.
The vast majority of the products that Sharon carries were discovered at the Juvenile Products Manufacturer's Association (JPMA). She holds most of her products in inventory to ensure the best customer service and fastest delivery. She recently started adding some drop-ship items, items that are too heavy to reasonably ship from the manufacturer to her, and then out again. However, the drop shipping arrangement must meet her regular policies (shipping out within a day, tracking number, etc).
Sharon's site is unique in that it doesn't simply sell the products. Her products provide solutions to problems in parents' everyday lives and her site helps parents find the right products. She has a "Problem Solved" section where she lists problems like, "I finally found sunglasses for my kids, 4 mo & 3 yrs, but they always fall off. What can I do?" and the answer to this problem is a product invented by a parent.
Perhaps the most popular service on her website is a listing of car seat regulations across the country. Her November newsletter includes an article on why babies need to be rear-facing. Sharon is most often asked why a baby needs to be rear-facing, then why an older child still needs to be in a car seat (NHTSA now recommends that kids stay in seats through 8yrs/80lbs, or to 4'9"). Her next newsletter challenge is to offer tips for getting a kid back into a "baby seat!"
Sharon has helpful advice on her website for aspiring inventors and a number of useful links. She offers the following advice to our readers who may have an invention on the horizon, "Essentially, you need to protect your intellectual property and be ruthless in your evaluation of its ability to make it in the marketplace...Be prepared to do your own research, if only so you can communicate with your attorney. Do not use one of those invention submission companies. Inventors are headed down a road of hard work and expense. Often the road leads nowhere, sometimes it leads to great rewards and riches, many times it just keeps going."
Sharon runs most of her business online, but she does attend various consumer events, such as Baby Fairs. Sharon says the key to online success is to be found and to be trusted before you can sell anything. You do this the same way you do with any brick and mortar business, she explains: "You join the Better Business Bureau and other such services, connect with other complimentary businesses, employ programs to create repeat customers and provide excellent customer service." Sharon rises every morning with her husband and son and they always have breakfast together. After her son goes to school, Sharon and her husband "go off to work".
They are both home based business people and they have their own home offices. Sharon says she makes every effort not to mix work and parenting. Her office is a converted garage space and is very separate from her home. So, when she is at work, she is not also at home and vice versa.
Wednesday, November 01, 2006
Don’t Invent A Business, Buy One
By Greg Brown
Turn-key businesses come in several flavors, including business opportunities, franchises and existing businesses for sale. Getting the right fit for you is a matter of personality, but also of cash and your own patience. Here’s how to pick the right path:
Consider becoming a rep, dealer or agent for a well-known brand.Big companies sell in many formats, including inside large-store chains, from stand-alone kiosks in malls, through vending machines and via independent dealers.
Multi-level marketing. Okay, if you play it rightAlso called network marketing, multi-level marketing programs have gotten a bad rap because of ponzi-scheme structures and the cult-like attitudes of some who join them. But getting in is cheap (a few hundred bucks) and selling to family and friends is as old as civilization itself. Stick with well-known brands and you’ll turn connections into profits in no time.
Franchising is not out of reach. Franchises can seem pricey, but only if your short list begins and ends with McDonald’s. A decent, growing franchise can be had for $50,000 if you can demonstrate positive net worth and some business experience.
Buy an existing store. If you have a good chunk of money to invest, it can be much easier to buy an existing, successful business than to grow one from the ground up.
You don't have to invent a business to get started. You can buy one instead
Turn-key businesses come in several flavors, including business opportunities, franchises and existing businesses for sale. Getting the right fit for you is a matter of personality, but also of cash and your own patience. Here’s how to pick the right path:
Consider becoming a rep, dealer or agent for a well-known brand.Big companies sell in many formats, including inside large-store chains, from stand-alone kiosks in malls, through vending machines and via independent dealers.
Multi-level marketing. Okay, if you play it rightAlso called network marketing, multi-level marketing programs have gotten a bad rap because of ponzi-scheme structures and the cult-like attitudes of some who join them. But getting in is cheap (a few hundred bucks) and selling to family and friends is as old as civilization itself. Stick with well-known brands and you’ll turn connections into profits in no time.
Franchising is not out of reach. Franchises can seem pricey, but only if your short list begins and ends with McDonald’s. A decent, growing franchise can be had for $50,000 if you can demonstrate positive net worth and some business experience.
Buy an existing store. If you have a good chunk of money to invest, it can be much easier to buy an existing, successful business than to grow one from the ground up.
You don't have to invent a business to get started. You can buy one instead
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