Five Good Reasons Why You Should Start Your Business in a Recession

Why should you consider starting a business in a recession? In an economy such as we are experiencing now, it is very difficult to decide what to believe. One minute we are told that there is no money to go around, then we are told that the economy is recovering.

Many people will tell you not to even think about starting a business right now, in these uncertain times. To them I say, Rubbish

If you look back over the years, you will see that there has always been an amount of uncertainty, but you will also find that there has always been a great deal of opportunity when the economy is in such a state of constant change.

Here are five really good reasons to consider starting your business venture now or starting to motor ahead if you have already started your fledgling business.

1. A Recession forces you to be Frugal

When you start a business without any money you very quickly learn the discipline required to run a business while being frugal. Obviously it is necessary to account for every penny in your business but if you have no money it becomes an absolute necessity and when these lessons are learned they are remembered forever.

Having limited money forces you to be more creative and keep a tight rein over expenditure, this forces us to exercise due diligence over all of our expenditure and to question all those sources who try to part us with our money. We also find that good advice is even more important.

2. Recession Forces you to be more focused

One failing of entrepreneurs is to fall in love with an idea, you will develop and nurture a product even if it is based on a flawed idea. A business built around a product that is flawed, is a business built on foundations of sand and even though you will look like you are doing well, in the long term that business will collapse.

However during periods of economic uncertainty a good entrepreneur will look at idea very closely before jumping in.

You will ask yourself questions such as:

Will there be a market for this product?

Is the market place big enough to sustain it?

How deep is the market?

Do I have the capital to see this project through?

Will the product benefit the market in bad times as well as good?

These and many other questions will force you to look long and hard at whether the product is good enough to take to market.

3. The Team you form will be committed during a recession

It is a fact that during good times it is easy to find a job, but during a recession, jobs are not as easy to come by, therefore anybody that you take on to work with you will be far more committed to the adventure because they do not want to become redundant and will try even harder to make your business work.

This is of course if you can get anybody to work with you because if they already have a job they will be reluctant to leave it to join your fledgling company, but if they do join you they will be totally committed to the venture.

4. Your Timing will be questioned

Whenever you start your new business, you, like everybody else will have to start from zero. But if you have found a good niche and you have done your research and your target market has disposable income then there is no reason to think that this will not work.

A gentleman you may have heard of, started his business during a recession and has done rather well, his name ‘Sir Richard Branson’ and his answer was, Screw it, Let’s Do It.

By taking action now you will get a head start on all the competition who are sitting on the sidelines waiting to start after the recession is over.

5. A Recession Toughens you up

A recession is just like a really hard winter, during a really hard cold winter all the bugs are killed off and come the spring everything is fresh and new and new balance is restored, this is just like a recession.

During the good times when money is easy to obtain, anybody can run a business but during a recession the bad companies are killed off and after the recession you are left with the good, well run companies.

How To Start A Business And You Really Make Money In Your Own Business

Don’t let all the difficulties in running a business stop you from starting your business.

Don’t even let those who have failed in their businesses discourage you from making money and succeed in the business world.

Let this article be a great encouragement to you at this moment, it doesn’t matter whether you are now thinking of starting a business, in the process of starting your business or you are already in your own business.

Though it is not that easy to start a business, because there are so many things you need to do before you can really make money and succeed in business.

However, I sincerely believe you will make money and succeed when you are running your own business.

It is because I also believe the moment you decided to start your own business, you already have a very strong determination to succeed in the business world.

The most important thing you need to do now is – read this article seriously many times to make sure you really do one very important thing – a good preparation before you start running your business.

The first thing is to make sure you are truly well-prepared and you really know how to make money and succeed in this intense competitive world market.

The second thing is to make sure you are very confident in running your business and you truly know how to prevent earlier failure in business that is so common in the business world.

Moreover, any moment you feel discouraged when you are running your business, always remember to come back and read this article, it will inspire you and help you regain your self-confident, you will move on confidently until you really make money and succeed in your own business.

Here are the Three Important Steps that I believe they will help you tremendously when you are doing your preparation before you start running your business.

Step One: Preparation

1. Business documentation, accounting and taxes

Get a professional accountant to help you in business documentation, accounting and taxes. It will save you time and effort, so that you can immediately focus on business development to bring in profits into your new business.

2. Focus on one business at a time and make it a great success

Don’t be a jack of all trades, starting many businesses before you really make money and succeed in your first business. You can start another business if you want when you really make money and succeed in your first business.

3. Do your market research before you start your business.

Don’t simply start a business just because you think your new product or services can make money in this world market. Seriously put in your time and effort in doing your market research and know precisely whether there is a potential for you to really make money with your new product or services.

4. Get your success master plan ready

Write down your business vision in your success master plan and put in more details on how you want to succeed in business. Read your success master plan regularly and know your daily progress until you really make money and succeed as what you have written in your success master plan.

5. Learn and be a master in selling and marketing

Don’t start a business until you really know how to sell and market your business ideas, your products or services. Selling and marketing are the two main business activities that will bring in profits into your business.

You have to sell your business ideas, products or services to those who joined you and they are helping you in your business – your sales personals, your distributors and traders. You also have to train them and guide them in the selling and marketing of your business ideas, products and services to the consumers and businesses.

6. Create an effective business system

It will minimise your daily work pressure and stress in running the business. It will also make sure the business work flow is always stable and consistent and you truly give the best standard of services to the consumers. You may also franchise your business to expand your business market.

Make sure everyone in your business organization seriously follow your business system and they truly understand the benefits for them when they follow the system, whether it is a simple checklist or work flow chart and monitoring system. New employee will easily take over the work should someone suddenly leaves your organization. Keep on improving your system to meet the growing demand of the consumers as your business grow and expand in the market.

7. Keep a business capital reserve in your new business

It does not matter how much business capital you have raised for your new business, but keep a capital reserve for two years’ business fixed expenses, because you may not make a profit in the first two years. This will enable you to focus on business development without financial worry until you really make a profit in the business.

8. Always be a major shareholder in your own business

Remember to keep at least 60% of your business shares and always be a major shareholder in your own business. Don’t oversell your business shares in the market if you are using your business shares as an exchange for raising your business capital. Otherwise, even though you are the founder of the business but you will easily lose your post as the CEO – Chief Executive Officer in your own business.

9. Maintain a good physical health condition

Daily exercise, having a good sleep every night and eating a balance diet everyday to make sure your physical health is always in good condition. You will then able to focus on your daily business activity, leading a team of people to really make money and succeed in this intense competitive world market.

Step Two: Start Running Your Business

1. Understand the grand purpose of your emotional feeling

You must truly understand the grand purpose of your emotional feeling and “why it is so important” you must always feel good and happy when you are running your business, so that you know precisely how to allow your wonderful emotional feeling to guide you prevent earlier failure in business and how to really make money and succeed in this competitive world market.

2. Become a great leader in your own business

The moment you decided to start a business, you are already a leader in your own business. As long as you are willing to learn and improve your leadership, you will truly become a great leader, unite and lead your team of people achieving your vision in your own business.

3. Focus on sales and marketing of business ideas, products and services

Your goal in business is to make profit and without making a good profit, very soon you will be out of business. Therefore, you must focus on sales and marketing that will bring in profits into your business.

4. Keep a healthy cash flow in your bank account

Without keeping a healthy cash flow in your bank account, it will also lead you to business failure. Always consult your accountant to make sure you wisely control your business expenses, so that you will never have to face with cash flow problem in business.

5. Create products or services that are truly great and remarkable

Make sure you create products or services that are truly great in solving the consumers’ problems. You must also make sure there is quality consistency in your products or services before you deliver them to the consumers.

6. Do not sell inferior quality products and services to consumers

If you are selling other people’s products and services, make sure you sell products and services that are truly great and remarkable. Inferior products and services will bring more problems and inconvenience to consumers and ruin all your efforts in building the business, and it can also bring you to earlier business failure.

7. Provide excellent services to consumers

Always give the world’s best services to the consumers. Make sure they really feel good and happy when they are buying your products or services and they truly enjoy a long-term good experience in using your products or services. The consumers will be very happy to recommend your products or services to potential customers.

8. Do not expand your business too fast

Seriously put in your time and effort to grow your new business. Make sure your business is stable and really make profits before you think of expanding your business in this world market.

9. Helping the world economic climate to improve

When you are in business, you are also here to help those who are starting their own business and those who are already in business to succeed in business. The easiest way to do it is encourage them to read this article. When many businesses in the world succeed, the world economic climate will improve. Consumers and businesses in the market will have more money to buy your products or services. Your own business will also easily succeed and flourish in this world market.

Step Three: Don’t Give-Up Until You Really Make Money And Succeed

1. Do not afraid of intense market competition

Intense market competition is always good for you and all business people. It is here to stimulate your powerful mind to think and you will then come out with new business idea, new marketing strategy, new product or new form of services to compete with others in this world market. Intense market competition is here helping the growth of businesses and the economic growth of this wonderful world you live, it is truly the wonders of the business world.

2.You must not afraid if your business suddenly turn bad

In every unpleasant situation that is happening in your business, there is always a great benefit for you – it is forcing you to make the necessary changes and you will see an impressive improvement in the way you run your business.

3. Have a strong determination to succeed in business

It is truly your determination to succeed that will help you go through all the troubles in business. It is also truly your strong determination to succeed that will make sure you will not easily give-up until you really make money and succeed in your own business.

Conclusion:

1. Read this article seriously many times until you really do a good preparation before you start running your business. Whenever you feel discouraged when are running your business, always remember to come back and read this article, it will truly inspire you to move on until you really succeed in business.

2. You must truly understand the grand purpose of your emotional feeling and know precisely “why it is so important” you must always feel good and happy when you are running your business, so that you know how to allow your wonderful emotional feeling to guide you really make money and succeed in your own business.

3. Sincerely share this article with as many business people as you can to help them succeed in business. When many businesses in the world succeed, the world economic climate will improve, your business will also easily succeed in this world market. Isn’t it wonderful in the world of business?

How to Start a Business and Follow Your Dream

Owning your own business is a goal that many people dream of, but not everyone realizes this dream. In order to make your dream come true you must a plan. This plan will lay out the steps you need to make your business a success. Many small businesses fail for lack of planning and resources. Use these tips to start a business and follow your dream.

Write a Business Plan

A business plan is the first place to start. In your business plan you need to state the nature of your business, a company description, organization and management structure, marketing plans, your target audience, and a budget. Depending on your business you plan may contain more items; each one is different because each business is different and has different goals.

Get Training

The Small Business Association has free training seminars you can attend if this is your first time starting a business. Their courses cover all aspects on how to start a business. If you’ve never had any financial training you may want to consider taking accounting or bookkeeping classes. These classes will give you a deeper understanding about the financial structure of your business and how to keep accurate records.

Location is Important

If you are going to start a business and have a physical storefront you need to give location a lot of thought and research. Scout out locations in your town and talk to other business owners in the area. Ask them about the traffic flow, if the area is safe, and if they would rebuild there again. Enlist the services of a commercial real estate agent. They will help you navigate the complicated process of purchasing commercial property, or find the perfect location for building your storefront.

Research Financing Options

You have several options to explore when you start a business. The Small Business Association offers loans at competitive rates, and they have several types of loans and loan structures set up to help people start a small business. Banks are an obvious choice, but you may want to explore venture capital, personal loans, and grants.

Obtain the Proper Licenses

In order to do business you will need to register your business’ name with your state. This is known as “doing business as” or DBA license. You must get a tax identification number from the IRS, and register for any state or local taxes. You will also need to get any local and state business license and permits.

Hire Your Crew

As an employer you have certain legal responsibilities to your employees and to the government. Contact OSHA to find out the safety concerns pertinent to your business, and get an employer identification number so that you can file taxes. Don’t forget to deal with the three types of withholding taxes; federal, state, and social security. Keep excellent records so that when it comes time to file your quarterly taxes you will be ready.

It may not sound easy to start a business, but if you have a passion and want to see it become a successful business it will take planning and organization. Use these tips to get started and build a business you can be proud of.

Five Things To Consider Before You Start A Business

Before you quit your full time job to start a business, it is important that you know exactly what business you want to startup and more importantly have carried out the research necessary to run your new business successfully. Many people tend to jump into a new business venture too soon without knowing fully what they are getting themselves into. Perhaps they do this because starting a business is so very appealing.

So if you are looking to start a business and are planning to quit your current employment to do so, then there are five things you need to consider first, before you take the leap into working for yourself. Take a look at these five points as you start planning your new venture.

1. Your Potential Customers: the most vital part of any business is its customers. They are the very thing that will enable you to make a profit and to be a success with your new venture. Before you start your business you will need to think about how you will attract customers as part of your marketing plan, including promotional activities and advertising methods. Market research is important in helping you to identify your target customer group which in turn will help you develop your marketing specifically towards them.

2. Your Business Name: every business will need to have a name. Not only is it important to give your new business an identity, but also to help you build brand awareness amongst your customers. Choosing a business is not as easy as it may seem as you will need to ensure any name you pick does not violate existing trademarks. You can do this by searching the U.S. Trademark Electronic Search System.

3. Your Business Plan: creating a business plan is essential to determining whether the business you plan to start will be viable or not. This document will cover everything from the outline of your business, how it will be financed and how you will market your new venture. Although this document is vital to securing capital investment, it is something you should refer to on a regular basis after you start a business to see if you are achieving everything you set out to do.

4. Your Finance: aside from the startup costs of your new business, you will need to ensure you have enough money to support the business through the first twelve months at least. Many business will not turn a profit in the first year and it can take time to begin generating enough turnover for the business to breakeven and support itself. Aside from this, if you quit a job to start a business then you need to ensure you have enough money available to cover your everyday living costs until you can draw an income from your new business.

5. Your Back-up Plan: you may have the perfect business planned and ready to start, but in this world there are no guarantees and your new startup could still fail despite all your careful planning. It is a good idea therefore to draw up a back up plan before you quit your current employment and start a business. A sound back up plan will ensure you have something to fall back on should your new venture prove unsuccessful. Ultimately it would make sense to never invest more than you can afford lose and never borrow more than you can afford to repay.

How To Start a Business You Can Afford Right Now

Are you sure that you are ready to open a business? Do you know what businesses to start? Some things are the same about any business. You need a business license, inventory, advertising budget and customers. You also need to rent a place where your business will be located. This all cost money and lots of it. It normally takes thousands of dollars to open a business. We have all heard that it takes money to make money. If you have money to gamble with, you can proceed with starting a business that requires lots of money. For the rest of us there is a great alternative and one you should consider.

It’s a janitorial cleaning service of your own. How big you can grow the office cleaning business is up to you. The sky is the limit because in the janitorial service business you can duplicate yourself. You can replace yourself with labor that you employ. This way, more than one office or building can be getting cleaned at the same time. This is the ultimate business to business idea. Every customer is a repeat customer and will be paying every month for your service.

For this reason, when starting a business, you should consider the janitorial service. Before you dismiss this opportunity, consider this. When it comes to business to business ideas, this is one of the best. You don’t need to pay rent for an office as you can use your kitchen table to get started. Customers have no reason to come to your home office so you can avoid paying rent to do business. You can even take advantage of the tax deduction of a home based office. You can get started this way and avoid the big start-up cost associated with normally starting a business. In the janitorial service you can line up your first customer before you need to spend any money on anything.

You can start a business this way and eliminate the financial risk of getting started that is so common with other types of businesses. Instead of going out and spending money right away because you are going open a business. You can put the cart before the horse.

In the cleaning business you can acuumulate things and do so only as you need them. If you have ever wondered about starting a business of your own, you should know that no other business offers you so much opportunity for growth and financial rewards. You can start your own janitorial service business on a shoestring budget. When you compare the low start-up costs of starting a cleaning business to the start-up costs for any other kind of business it’s really no contest.

You can always employ people to help you get the cleaning done. Needing help should not stop you from starting your own cleaning business. Many people would love to have a part- time job and clean for you. Many entrepreneurs spend large sums of money to start a new business and risk it all in the process. The fact is, most businesses end up going out of business after the first year but not in the cleaning business. It is a great service business and the opportunity is open to all. Ask anyone to name you a cleaning business and they would have to think about that one because no company dominates the cleaning business. It is wide open, so when your thinking about starting a business, consider the ultimate business to business idea of your own janitorial service. Commercial cleaning takes place everywhere and cleaning is here to stay.