Financing Your Business
Anyone who is serious about making some money is already very well aware of the fact that it takes some type of investment to make this happen. I've read a lot of copy that suggests one can build a business for free, if they are willing to spend an extra amount of time to compensate for their lack of financial backing.
At the risk of bursting a few bubbles, I'm going to put this myth into perspective right now. While it's true a lot of hard work can make up for some weaknesses in your budget, the idea that anyone can build a prosperous business from the ground up with zero monetary investment is, at best, ridiculous.
I'm not saying this to discourage anyone. Quite the opposite, I'm trying to help people who are new to all this avoid months of frustration by giving them a dose of reality.
With the proper determination, you most certainly can succeed without spending a small fortune. However, there is simply no way to avoid putting at least some money into your projects if you truly expect them to grow and expand.
Maybe you don't have a lot of money to spend right now, and that's fine. There's nothing wrong with looking for a few freebies in the beginning, but you should definitely start mapping out a plan to generate some operating funds for your networking business.
Sit down and draw up your current budget. Start with your total monthly income and deduct all your monthly expenses. Next, identify any excess spending that can be reduced or curtailed. You may even need to develop some ideas of how you can generate a little extra money throughout the month to help fund your business. An honest, organized approach to identifying your financial capabilities and limitations is essential for your success.
Some of the things you can do to increase the size of your advertising/operating budget include:
- Reduce some of the "frills" on your monthly cable bill (pay per view events, movie channels, etc.).
- Locate a few extra hours of offline work per week. This could be another part time job, or it could be a matter of picking up some "odd work" a few times per month.
- Reduce entertainment expenses. Consider eating out less, or saving money by catching the matinee show instead of the more expensive evening movie.
- Consolidate your credit card debt into a single card, thus lowering your monthly payment obligation.
- Take out a small business loan.
- Have a garage sale.
- Buy your essentials (toothpaste, razors, deodorant, etc.) at a "Dollar Store." Thrift stores often retail the same merchandise sold at corporate stores for a fraction of the price.
These suggestions may sound silly to you, and that's fine. We all set our own priorities. If your business is just a hobby, then you probably aren't willing to go to extremes to insure its success. On the other hand, if the success of your business is paramount to your personal happiness, going the extra mile isn't too much to ask.
Personally, I think of network marketing as my "ticket" to freedom and porsperity. With this attitude in heart and mind, I am more than willing to cut a few luxuries and funnel as much revenue as possible into the growth of my business.
Tim Whiston has enjoyed network marketing on the world wide web since April of 2003. He publishes a monthly ezine, and is the author of Net Marketing Exposed.
Confidence = Preparation + Courage
It always amazes me when I see someone on television holding a press conference ? a lawyer outside a courtroom, a businessperson at the launch of a new product. Reporters ask hardball questions. The answers are given with conviction, without hesitation. The person being questioned exhibits supreme confidence. Where does that confidence come from? How do they get it? What lessons are there for those of us who also have to face difficult circumstances and need that same, high level of confidence?
The Ideal Length of Your Business Plan
How long should a business plan be? A business plan needs to be whatever length is required to excite the investor, prove that management truly understands the market, and detail the execution strategy. From surveys of investor needs, Growthink has found that 15 to 25 pages of text is the optimum length in which to accomplish this. Any more and the time-constrained investor will be forced to skim certain sections of the plan, even if they are generally interested, which could lead them to miss essential elements. Any less and the investor will think that the business has not been fully thought through, or will simply not have enough information to make an investment decision.
Book Yourself Solid: The Simple Selling Process
As a service provider you may not want to think of yourself as a salesperson. You are in the business of helping others and you may not feel comfortable with the sales process. However, you need to let clients know that your service is available. Here are some ways to do so:
Business Planning for College Students and First-Time Entrepreneurs
More and more students, both in undergraduate and graduate institutions, are deciding to launch their own ventures upon graduation rather than taking the traditional route of working for another firm. Likewise, more and more individuals are leaving their jobs to fulfill their entrepreneurial dreams.
Entrepreneurial Excerpt from a Speech to Small Business
Having built a business from a bucket of water and sponge, which started over 25 years ago in a National Franchise chain in 23 states, I feel comfortable discussing entrepreneurship.
Entrepreneurship: Insight and Closer Look At The Entrepreneur
Life as an entrepreneur is the American Dream. To be able to be your own boss, own your own business, never report to anyone else, work from home, make unlimited earnings and income potential, etc. Owning your own business most definitely has its perks. But on the other hand, there are the downsides. However, being an entrepreneur myself I view these only as challenges. The will to work hard, fanatically, solitary isolation, being slammed of your ideas from other people, the uncertainty of making the business grow to fruitation are all quite scary considerations. But it's best to know that it is out there, that it is the negative side. To be willing to gamble your money, other peoples money, to invest a massive amount of time and energy into your business is something that should be considered.
How Home-Based Business Entrepreneurs Think
Too many people are trying to start their home businesses with an ordinary employee's way of thinking. This has become a common reason why not long after sitting down and giving it a fair look into even the most lucrative business opportunity they bump into, they put it away and decide not to take any chances.
The Boss is DEAD!
Some of us are born into families with "it", some of us are just driven over the edge to "it", and some of us crave "it", but just haven't figured out how to attain "it." That "it" is an Entrepreneurial Spirit that is a powerful force that can be the key to your success, and yes?sometimes even failure.
Ancient Warrior Secrets For The Modern Entrepreneur
The words you see onscreen trigger subconscious responses. Dark images penetrate your mind. Your heartbeat increases slightly. Your muscles tighten. Like a warrior advancing to combat, you prepare to engage with your market. Ready, aim, fire. You send an email! Everyday, military metaphors are projected across our computer screens. Guerrilla marketing. Market penetration. Global domination. Competitive intelligence and more. How do you approach your marketing, your business? At the end of the day, do you feel like you have been in battle? Suffering battle fatigue.
Opportunity Does Not Knock
Q: I'm graduating this year with a degree in business and would like to start my own business rather than get a corporate job. I have a few business ideas, but none of them really gets me excited. Should I just put my business plans on hold and get a job until the right opportunity comes along?-- Carlton M.
The Danger Of Hate
As you have shown an interest in starting a business of your own it would be safe to assume that you want to changeyour life. You want more money - more control over yourlife - more respect. But just as we each have a dream, wealso have a reality.
The Entrepreneurial Difference
Who would ever have imagined that going door-to-door in my neighborhood selling figs from a bright orange shopping cart would have been my entrepreneurial beginnings? I surely did not. But, now that I look back and also look around me at other business owners, I see clearly that so many of the traits common to entrepreneurs are present at a very early age.
Questions For The Entrepreneur To Be
5 Tips to Step Boldly into the World & Set Yourself Apart from Others
"Real champions believe in themselves even when no one else will!" Author Unknown
Franchises - Emotional Fulfillment - Control Your Destiny
Does A Franchise Meet Your Needs?
The 7 Major Reasons Businesses Fail and How to Overcome Them
This year, over 800,000 of the approximately 2,000,000 start up businesses will fail!
Six Degrees of Separation
Through just five or six intermediaries, you could be linked to millions of others. It is the notion behind what has been dubbed the small world effect.
Success Secrets - What I, Mike Litman Learned From This Old Book
Yesterday was a beautiful, sunny day in New York and yes, I spent it alone :}.
Business Is No Guarantee of Riches
Q: I'm thinking about starting a business since that seems to be how most rich people get rich. I don't have any business experience or much money, but I'm a fast learner and have lots of energy. Any free advice?Peter J.
Oil Change Guys History; Part I
How do franchise companies come to be? How do they start. What type of a person or entrepreneur becomes a franchisor? Below is the story of how one small company became a franchisor in the mobile oil change business. The story is written from our point of view and opinion. We claim freedom of speech, of the press in its entirety since a good part of it is opinion based.
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