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Hub You - Five Questions to Ask Yourself Before Starting a New Business
There are scores of life insurance companies, each providing scores of tailor-made policies to their customers and each promising their customers the moon. How does one then go about choosing the policy that is best for him or her? How does one decide which policy is the best?Invariably, people end up trusting their insurance advisor. However, one needs to remember that the insurance advisor is a salesman and that his or her job is to sell the insurance policies of the company that he or she represents. Hence, an agent, though providing in-depth information about the policy, is not the best person to trust
2. What are your expectations?
If your goal is to work fewer hours and feel le
It’s a catch-22. You need a line of credit to build credit but since you don’t have credit, no one wants to extend you a line of credit.Increasing credit card companies are offering credit cards to college students on campus. I acquired my first credit card when I was shopping at the campus book store for a used book. My first credit card, a MBNA Visa, had a credit limit of $500. Enough to keep me out of trouble but also enough to start building my credit history file.Here are three strategies for building or rebuilding your credit file.1. If you have no credit, you can start building credi
At first glance it sounds perfect: Leave the corporate world behind and become an entrepreneur. No more commuting, office politics, difficult co-workers and demanding supervisors. You’ll be your own boss and reap all the financial rewards. It will be a brand-new lifestyle with incredible opportunities and much less stress.
Others have achieved the new “American Dream.” Look at the young kids who started Apple on a shoestring in the late 1970s. Don’t forget the two engineers who launched a little company called Hewlett Packard out of a small backyard garage. Mrs. Fields took a cookie recipe -- of all things -- and built it into a national model that is taught in many business schools.
Why not you? Yes, you could have the next great business idea, but that alone might not be enough. Ask yourself, do you have the right stuff to launch and run a successful business? Here are five questions to consider before making the big leap from a steady paycheck to business owner.
1. Are you a self-starter?
With no one looking over your shoulder, it’s easy to procrastinate. You must have the discipline that is needed to plan, set goals and stay focused.
Since many small businesses initially start out as home-based to keep overhead low, working from home brings additional distractions. Can you resist the temptation to eat cookies and watch reruns of “Law and Order” when you should be making marketing calls?
2. What are your expectations?
If your goal is to work fewer hours and feel le
It is no secret that despite the legality of online gambling in the United States, it has become the fastest growing industry on the Internet. The desire to wager online has even surpassed the virtual power of online pornography. Online gambling is a $12 billion a year industry, with about half of that amount generated within the United States, and some analysis believe this figure will double by the year 2010. To what secret does the industry owe this awesome success? It's quite simple from a psychological point of view; individuals indulge in the thrill of spending a little to win a lot. Akin to the lottery
Others have achieved the new “American Dream.” Look at the young kids who started Apple on a shoestring in the late 1970s. Don’t forget the two engineers who launched a little company called Hewlett Packard out of a small backyard garage. Mrs. Fields took a cookie recipe -- of all things -- and built it into a national model that is taught in many business schools.
Why not you? Yes, you could have the next great business idea, but that alone might not be enough. Ask yourself, do you have the right stuff to launch and run a successful business? Here are five questions to consider before making the big leap from a steady paycheck to business owner.
1. Are you a self-starter?
With no one looking over your shoulder, it’s easy to procrastinate. You must have the discipline that is needed to plan, set goals and stay focused.
Since many small businesses initially start out as home-based to keep overhead low, working from home brings additional distractions. Can you resist the temptation to eat cookies and watch reruns of “Law and Order” when you should be making marketing calls?
2. What are your expectations?
If your goal is to work fewer hours and feel le
Which is a better move, buying a hot stock at a high price or a low-cost stock that isn’t moving? You probably didn’t have any problem answering that one; it is better to over-pay for an expensive stock that is still going to make you money as opposed to a cheaper, unprofitable stock. First of all, no one wants a stock that isn’t going to make money, no matter the price. Second, buying an expensive stock is only a good move if the stock still has room to grow. Looking at the NumbersConsider two hypothetical stocks. Stock #1 is an expensive stock, showing a price to earnings ratio of 35 while stock #2 has
Why not you? Yes, you could have the next great business idea, but that alone might not be enough. Ask yourself, do you have the right stuff to launch and run a successful business? Here are five questions to consider before making the big leap from a steady paycheck to business owner.
1. Are you a self-starter?
With no one looking over your shoulder, it’s easy to procrastinate. You must have the discipline that is needed to plan, set goals and stay focused.
Since many small businesses initially start out as home-based to keep overhead low, working from home brings additional distractions. Can you resist the temptation to eat cookies and watch reruns of “Law and Order” when you should be making marketing calls?
2. What are your expectations?
If your goal is to work fewer hours and feel le
It seem that the only time people are open to change is when what they have always done no longer works for them. In other words when our needs are no longer being met by previous behaviors, thought patterns or procedures.Your task as a CEO or manager is to show your staff that this applies to your business as well. When certain procedures and practices no longer meet the needs of your business or organization change is needed.To facilitate this change you must show respect for both the needs of the business and employees. When your business needs for increased efficiency, profitability and product
1. Are you a self-starter?
With no one looking over your shoulder, it’s easy to procrastinate. You must have the discipline that is needed to plan, set goals and stay focused.
Since many small businesses initially start out as home-based to keep overhead low, working from home brings additional distractions. Can you resist the temptation to eat cookies and watch reruns of “Law and Order” when you should be making marketing calls?
2. What are your expectations?
If your goal is to work fewer hours and feel le
It was not very long ago that the only place that thought about kids were the big fast food chains, and even then limited by offering a small toy with the purchase of a hamburger. These days if you don’t create an amazing experience for the twelve and under demographic you will lose their vote!!! So let’s look at a few ideas to get them on side in part 3 of this article:12. Have family nightsThese are a great idea for a slow Monday or Tuesday nights. You could show family TV shows or movies or even cartoons. You can have special discounts on adult meals, and provide other forms of entertainment such
2. What are your expectations?
If your goal is to work fewer hours and feel less stress, then think again.
The U.S. Small Business Administration estimates that business ownership requires a tremendous commitment, with 12-hour workdays, often seven days a week. Needless to say, this can be a strain on family life. If you think it might be too much, then consider a job change instead or a new career with an established company rather than launching your own business.
3. What are your financial goals?
In the short-term your income will probably be lower, and it could stay this way for a long time. Additionally, no one pays for vacations, health care plan, profit sharing or stock options. You must set up your own retirement plan as well.
The U.S. Small Business Administration offers some sobering statistics. It reports that half of the small businesses started will fail within the first year. Furthermore, by the fifth year 95 percent will have ceased operations. While the reasons for failure vary, one of the most common is a lack of adequate financing. To beat the odds, meet with an independent accountant to honestly discuss your finances and expectations. The good news is that if your business takes off you will reap the financial benefits.
4. Are you a “water-cooler person” at heart?
When you become a business owner, your days of taking a long lunch or chatting with the guys around the water cooler are ov
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