Profitability

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7 Steps to a Successful Business Online

August 25, 2022 Comments Off on 7 Steps to a Successful Business Online

It is possible for anyone with a computer, a connection to the internet and the ability to read and write, to start a business online. It is quite easy to put up a website, often hosted for free, and hopefully have people come and visit it. Unfortunately it is not a matter of ‘build it and they will come.’ If you don’t set it up right, you will be wasting your time. No one will visit your site and you will not make any money.
The purpose of this article is to share with you a seven step process that I have followed successfully in the past to make money online and I believe that this will work for you also.
An idea – First you need a business idea. I am not necessarily talking about something original that has never been done before but you do need to know what you are going to try and do to make money. You also need to know what niche you want to work in.
Research and testing for profitability – Once you have a business idea you need to do some research to make sure that it is profitable. You need to find out whether people are searching for information in your chosen niche and you need to work out whether they are spending any money on products they find- you cannot make money out of freebie seekers. There are a variety of tools that you can utilise to test the profitability of a niche.
A plan – If you find that niche of choice is likely to be profitable it is time to develop a plan to reach out to your target audience. There are a variety of things to include in your plan- from what you are going to sell to how you are going to reach out to your target audience.
Implementing the plan – After you have come up with your plan it is time for implementation. You need to actually do what you have said that you are going to set out to do.
Automating what you can – One of the benefits of an online business is the ability to automate many of the processes of your business. You should utilise technology to automate what you can so you can concentrate on other aspects of your business.
Marketing and brand building – You need to promote, promote and promote some more. If you aren’t telling people about your business how are they to know that you are there?
Starting again from section 1 – Once you have your successful business off the ground, why not start another one? Don’t leave all your eggs in the one basket and see your profits soar!
There you go. If you are thinking of starting your own business online, follow the tips I have mentioned above and you should give yourself more chance of success.

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Brainstorming and Creating Home Business Ideas – Simple Successful Strategy

July 16, 2022 Comments Off on Brainstorming and Creating Home Business Ideas – Simple Successful Strategy

There are a number of different home business ideas that can bring a small fortune to an individual person. A lot of people would love to have their own business but they can never come up with any ideas. In this article I would like to share some of my personal methods of finding and creating ideas for home businesses.
The first and most important thing that you’ve got to do is brainstorm. Its best to surround yourself with like minded people; it can be difficult for a single person to think of a business ideas and then get the business up and running. Surround yourself with good people, and start the brainstorming process.
Now there is a lot more to brainstorming then just throwing out ideas and hoping to come across a good one. As a group you need to discuss how much you’re willing to invest, how much time and personal commitment everyone is willing to give, and how much risk everyone is willing to make. These three factors will help you narrow down the type of business that will best suite you and your partners.
Once you’ve established how much time and money you’re willing to invest, you need to brain storm your talents and interests. Talk about the strengths of the group and your weaknesses. Try and figure out something that everyone is passionate about. The most successful people are those that are passionate about their work.
Once you get to this point you can start throwing out ideas; make sure your ideas are focused around the things that I talked about.
Unfortunately not everyone is blessed to have great people around them that would be willing to go into business with you. A lot of people have turned to the internet to start their own business by joining a successful team of online marketers. This is a great way to surround yourself with like minded people that are seeking the same things that you’re seeking.

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New Business Ideas – How to Find That Winning Idea to Start a Business

July 4, 2022 Comments Off on New Business Ideas – How to Find That Winning Idea to Start a Business

A good business idea will often be borne out of your experience. Have you observed people experiencing a problem or frustration, and do you have an idea that might eliminate or reduce that problem. The richer your experiences and the more observant you are, the more you are likely to come up with workable business ideas. Take an inventory of your experiences; of all the work you have done, paid or unpaid, and of all the games you have played, did you encounter problems looking for a solution?
Start with your resume and expand it as follows:
A� Add all your activities so you have a detailed resume. Don’t limit this to work. Include games, chores, and any other activity that engages you.
A� For each job or activity state what you accomplished. Remember this is not for an interview; it’s just for you so be honest.
A� State what you like most about the job or activity
A� State what irritated you or your coworkers most about the job or activity
A� If you interacted with customers write down their frequent complaints
A� For every irritation or problem that you list, think of and write down a way that you could eliminate or reduce it
A� State the primary purpose of the job or activity and ask yourself if there is a better way to achieve that purpose.
This exercise will get your creative juices flowing and may result in your winning new business idea.
Always allow your brain some down time. You will spend a lot of time thinking about and perfecting your idea for a business, but often the best ideas come to you when you are in a moment of rest or mental inactivity. When you are done working on a problem, the mind continues to work on it in the background, but you must give the mind space and time to do that work, which means taking a break from active mental work.
While I urge giving your mind rest time, if you wake up in the middle of the night with a great idea get up and write it down. When you are out and about always have a means of recording those ideas that run across your mind unbidden. Sometimes you get a great idea in an unlikely place, but after hours of other activities, and distractions you forget about it. Your note pad will keep these potential business ideas from slipping through the cracks.
If you are still not coming up with any ideas don’t give up; keep thinking about it, but most importantly, you must be actively living and observing. Try to broaden your experiences and become more observant. If you have work experience, but no formal training, take some business courses. If the reverse is true and you have business training but no work experience get to work. If you can’t get paid to work, do some volunteering. This is not to suggest that you wait until you complete a course or get a certain number of years in experience before you start your business, but while you work on your idea broadening your experience in these and other ways will be helpful.

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Selling Used Cars – Turning Your Passion Into Profits

June 26, 2022 Comments Off on Selling Used Cars – Turning Your Passion Into Profits

Are you a car nut? Do you get excited about horsepower and thoughts of an open highway? If you have a passion for cars then you may be able to turn your love of speed into a money making income stream.

I know a few entrepreneurs who buy and sell used cars for extra income. The cool thing to me, is that not one of them owns a car lot or has any employees to manage. The basic business model is to buy cars in good shape at auction and then to sell them for a modest profit. Let’s take a closer look at what this business entails…

Do you need a license?

The people I know who are doing this all have used car dealer licenses. I did some research into this to see if a license is necessary. Basically regulations vary by State but in New York, for example, you need a license if you sell 6 or more cars per year. Check out your State’s DMV website for details on obtaining a license, requirements, and etc…

The application fee is around $40 and you must also pay a 2 year business fee upfront of $450. If you want to sell boats, it’ll cost you another $50.

When you look at the costs involved it’d be tempting to skip the license and not sell more than 6 cars per year to keep it legal. The problem with no license is that without one you can’t get into the dealer auctions. These auctions are where dealers buy cars to sell on their lots. They buy them at a wholesale prices and sell them on their lots at a marked up price. With a license you have access to the very same auctions as the big boys.

How do you sell cars without a lot?

So you’ve obtained your license and you just bought a car at auction. Where do you sell it if you don’t have a lot? The people I know doing this sell their cars in a variety of ways, such as –

Craigslist

eBay

AutoTrader

Word of Mouth

They also sell their cars on local car lots. When the car is sold they pay the dealer a percentage.

Here’s a possible way to try this out and see if it’s a good business for you…

So to get into the best auctions it looks like you need to spend at least $500 on the license. I’m sure there are more upfront fees like insurance. That’s a lot of money to spend on a side business that may or may not be for you.

Here’s what I’m thinking –

Get the license. Initially use your ability to get into the auctions as a way to buy cars for yourself, your family, and friends. Find out what they’re looking for and get it for them at a price better than they could get at a car lot. If possible, take them with you to the auction so they can look the car over and can pay the auction house. That way there is no money out of pocket for you.

Since these initial transactions will be for family and friends don’t expect to make a big profit. Discuss a predetermined amount with them prior to making the purchase. If you made $500 of off one transaction you’d be well on your way to paying for your license and other expenses.

Once you’ve made a few sales to your friends and family use the money to buy a car that you can flip for a good profit using some of the ways listed above. It seems to me you’d find out pretty quickly if this is a viable income stream for you. If not, move on to the next idea.

I definitely see potential in this income stream. One transaction a month could be a nice little revenue stream. Who knows, if you find you have a real knack for this it could turn into something much bigger. I love income streams that can be started small with a big upside. This one definitely fits the bill.

Thank you for checking out this article.

Enjoy the Chase!

Matt

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Best 10 Reasons to Start Your Own Home Based Business in 2011

March 4, 2022 Comments Off on Best 10 Reasons to Start Your Own Home Based Business in 2011

Have you ever thought about starting your own home based business? In today’s economy it seems like many people are going the work from home route rather than being employed by someone else. Besides, home based businesses are now accepted all over the world as good as any brick and mortar business.
So why is that many people all over the world are starting to build their own business?
Just try to imagine how would your life look like if you had money coming in every week like a clockwork? What would you do with your free time?
Many people are spending their time with family, see their kids play or perform at school, travel around the world, to buy bigger houses, nice cars or invest their extra money into real estate properties, forex programs, stock markets or foreign businesses.
As you see, you could multiply your income really fast.
The only thing is that it requires a lot of hard work on your part in order to make good money working from home. You need to have the desire and motivation to work without any distractions.
Most people read emails, clean the house, fix their car and at the end of the day they realized that they completely forgot to build their business. You can not be like that if you want to start your own home based business. There are many programs that help you to overcome this distractions, so you can earn great income from home.
But is it worth the effort of starting your own home based business?
I reply with an outstanding yes! You have so much opportunities when you work for yourself and the best part is that you can earn unlimited income. Unlike at your job, where you will never make more money than your boss. Unless he retires and give you his position. But that is like winning the lottery.
So let’s get to the best 10 reasons why you should start your own home based business:
1. You will be master of your time, income and success. No boss to tell you what to do, when you do it or no more office politics.
2. You can work around your schedule, that way you can be with your family if you want to be with them.
3. It does not cost a fortune to start your own business, working from home.
4. You can start part-time after you finish your regular job, so you still have a secure income while building your business on the side.
5. You will become more stress free, because you will not be afraid of being fired.
6. You will grow as a person to a much higher levels. So celebrate every success that give you the extra strength to work on your business.
7. There are no limits and the income potential is as high as your imagination.
8. You have a great Tax benefits when you operate your own home based business.
9. You can work on your business from any location, so it is time to go for vacation to your favorite location and spend an hour or two building your business on your computer.
10. How does the early retirement sounds to you? Great! With your own home based business, you have a better chance to retire comfortably at an early age.
As you can see there are many great things about owning your own business. My favorite home business idea is the internet home based business because it gives you even more benefits and it is possible to completely outsource the mundane tasks to free your time as much as possible. With internet business, you will work less than 4 hours a day to earn full-time income.