February 10, 2012

What to do for get money for my business idea

When you have a good business idea the money never is a problem because if you know to sell it you will always find someone who wants to invest in it.

But like everything in life, business ideas have to be sell.

In an interesting article in Cnn Money , they recommend that we should divide their work into two parts:

1. Preparation of business analysis that will present to potential investors and,

2. The creation of an adequate social network that allows me to reach potential investors to which I will sell my business ideas.

In the interview with the potential investor one must be prepared to answer the following questions:

  • 1. Who is the customer?
  • 2. What is the product or service?
  • 3. What is our goal in this business idea?
  • 4. What is the value of our business proposition?
  • 5. What is our market or target markets?
  • 6. What is our past, present and future financial conditions?

You can read the full article at Money Cnn website by clicking here on this link

How to start a new business, become successful, and make money

If businesses were easy any one will have a business. The true is that start a new business is a hard process where only few survive.

If you look around you many businesses are open every day but many also closed all day. According Money CNN in 5 years there is a 50% chance that a small business to survive.

The secret that you are not among those who fail is based on 3 aspects:

1. Education. You should be educated permanently in business. Attend conferences or seminars in your country, read, learn.

2. Planning. The famous business plan that we have stressed several times.

3. Careful cash flow. This is a vital issue, many businesses fail because had not adequate cash flow even though the business was very good.

Where to start?  As I said in another article, the passion is not everything, investigate, educate yourself, plan and watch your cash flow. Never forget that you are a winner and the success is inside you.

Photo via Sxc. You can read the article cited at Money CNN by clicking here on this link

The restaurants as successful business. Why some fail and others not?

The passion is not everything.

Business Week give us that explanation as a  the reason because some business fail and others not.

In an interesting article, Business Week detail how some restaurants fail and other has success. All of them start from the same business idea, so the problem is not the idea. So what happens?

Simple, passion is not everything. Maybe you heard or read that to succeed you need passion and if well it is true, that’s not all.

As developed in Business Week you should know business management, dealing with clients, marketing, management tools, among others knowledge.

There is the misconception that you’re going to lunch at a restaurant may already know everything about the restaurant business and that is not true.

Business Week cites a successful case where just to avoid that problem, the entrepreneur first gave up his job to work in a restaurant and order and learn a few things that had never encountered in their previous research.

You can read the full article at Business Week website by clicking here on this link

Look and learn how you can start a life only with U.S.$25 dollars

Money and money, many people think that only if you have a good position with a lot of contacts you can grow as person. If you read our blog frequently you might think that many business ideas that come here are impossible to achieve.

Well the Christian Science Monitor give us an experiment that show us that your are wrong.

Adam Shepard, did an experiment. He left home and went to live in a homeless shelter in a community of people with no money, only $ 25 in his pocket.

Without using any of your contacts and friends, after 10 months, came to have an apartment, a car and a U.S. $ 5000.00 savings.  

Find inspiration in the story of Adam Shepard to move forward with your business ideas, save money for capital that will serve to develop your business tomorrow.

“Alone on a dark gritty street, Adam Shepard searched for a homeless shelter. He had a gym bag, $25, and little else. A former college athlete with a bachelor’s degree, Mr. Shepard had left a comfortable life with supportive parents in Raleigh, N.C. Now he was an outsider on the wrong side of the tracks in Charles ton, S.C.

But Shepard’s descent into poverty in the summer of 2006 was no accident. Shortly after graduating from Merrimack College in North Andover, Mass., he intentionally left his parents’ home to test the vivacity of the American Dream. His goal: to have a furnished apartment, a car, and $2,500 in savings within a year.

To make his quest even more challenging, he decided not to use any of his previous contacts or mention his education.

During his first 70 days in Charleston, Shepard lived in a shelter and received food stamps. He also made new friends, finding work as a day laborer, which led to a steady job with a moving company.

Ten months into the experiment, he decided to quit after learning of an illness in his family. But by then he had moved into an apartment, bought a pickup truck, and had saved close to $5,000.”

Read the interview to Adam Shepard by clicking here on this link

How to teach your children the value of money and become millionaire

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Saving only U.S.$100 per month beginning at age 4 and ending at age 18 you could become millionaire if you invest that money and remains untouched until age 62 as the above chart show.

The picture has been taken from Yahoo Finance. The secret to being a millionaire is to start as soon as possible. Instead of buying toys for your children you should start saving in your child’s name and teach them the value of money. About it at Yahoo Finance website you can find interesting guides about How To Teach Your Children The Value of Money. You can read there: 

“5. Make Saving Interesting

You hear it every time you walk by a toy store: “I want…Buy me this… !” Again, pause and take a moment before responding. This situation presents a great opportunity to teach another important lesson about personal finance: savings and interest. Explain that people often save their money for items they want to buy.

A simple savings lesson involves using a piggy bank, shoe box, or empty peanut butter jar. Make the lesson fun by having your children decorate the “bank,” while explaining to them how you also use a real bank to save your money. Encourage your children to save a portion of their allowance for a special goal. As they save money, you might reward them with a small additional amount, just like a bank pays interest. At the end of each month, calculate how much they have saved and then chip in a certain percentage as interest.

Last, to further encourage the learning process, you might consider plotting a visual chart of their savings (include the goal) so they can easily see their savings grow. Remember to keep it as simple as possible, geared toward each child’s level of understanding.”

You can read these guides on Yahoo Finance by clicking here on this link

How to sell my business idea and get money for my project, learn to sell your idea

If you have a business idea you should to learn how to sell it to potential investors.

Forbes give us some advices about how to sell a business idea. On summary with some comments:

1. Avoid calculation mistakes in your presentation. If you make a projection of profits, be very careful in your mathematics calculation.

2. Do not use overloaded power points. On this point there are several books that even advised not to use power points that distract your audience. You need that your audience to be focused on you and the business idea that you are selling. In any case if you use Power Point follow regulation 6 of 6 (no more than 6 items per slide and no more than 6 words per item).

3. Never turn your back to your audience. If you need to see your Power Point slide do it for 1, 2 or 3 seconds or less. Use the rule “touch, turn and talk”, ie touch the slide, Turn around and keep talking.

4. Do not speak about details of your business if it is not intended to show the money.

5. You must have a good closing. Perhaps comments from the attendees can be an appropriate closure or perhaps the presentation of what other customers say.

6. Anticipate the objections your audience. You have to anticipate which questions will be your audience and answer them in your presentation.

7. Do not give multiple messages. The message should be toward one goal, one should not confuse the audience with perhaps other projects. Now selling exclusively your business idea and nothing more.

8. Know the audience. You have to know to whom you speak, the message is different if you talk to a banker if you talk to an investor who is perhaps another entrepreneur like you.

9. Do not ignore the risks of the business. You have to treat these risks, not doing so is to insult the intelligence of your listeners.

Luck and jump know to sell your business idea.

You can read the full article at Forbes website by clicking here in this link

3 factors or keys that you should know to be successful in business

Any business is a risk and you will be suspicious of anyone that tell you that have a secret and magic formula for make money to become in millionaire on few days.

Some times the business fail for a lack of preparation and not because the business idea was bad.

There are many factors and keys for business success, here three of them:

1.  A good idea.

2. A good business plan.

3. The will to bring it forward and be a winner.

The 3 factors are necessary for success, but the third is that often fails, you must be passionate in your project business and believe in it. You should never think it will fail, as I said above always there are risks but you should foreseen them in your business plan.

Do not be intimidated by the fact that you maybe you do not have an MBA, an MA or a PhD, most people who have been successful in business have not had these studies. What if you have to do is work hard and be consistent, to have faith in yourself.

Often one’s family is the fiercest criticism of an entrepreneur, wife or husband or parents begin to say “why waste your time doing that”, “please to study it,” “seeks a job,” “you to lose all the money from our savings. “

What you should do is stick to a plan for success, being a winner in business is difficult but not impossible.

A business idea for make money online, buy and sell domains and websites

A domain name is the name of any website, for example the domain of our website is “www.ElasticZone.com“.

The domains “dot COM” (.Com) are the most popular domains (other are “.Org”, “.Net”). The average price of this kind of domains is U.S.$ 10 per year, but you know that will you be able to resell that domains and even most important that maybe someone could pay you a million dollars for your domain?

Yes, maybe you become millionaire buying and selling domains, that is the case of the domain ”Candy.com” that was sold for 2 million dollars as reported the newspaper Christian Science Monitor.

Why does it cost so much if you only should pay U.S$10 dollars per year?

Simply, because the name is short and generates traffic of visits to the website itself. As I have said before, on the Internet to more traffic of visitors you have more opportunities to make money online (read How to Make Money Online with a Blog).

Today, It is not easy to find a domain as Candy.com but maybe you can find an interesting domain that still is free. You can explore to buy one in several sites as Alocate, you should invest only $ 10 per year but who knows, perhaps you will sell your domain for millions of dollars in some years more.

How a small business earn a lot of money with its website, a model business to follow

The New York Times usually publish several articles about cases of successful businesses.

In this case NYT made an interesting report about how an small business is making a lot of money with its website named AskPaty.

AskPaty is a website that give advice about cars, automotive advice, advice on car buying, maintenance and other related automotive topics. However, the difference with other similar websites is that AskPaty is thinking for women.

Who had this business idea was obviously a woman who didn’t find information about cars with that point of view.

As the case of AskPaty the NYT reported other cases of small business that launch successful websites where their founders are finding new business, new sells and new sources of make money online.

The internet technology is inexpensive and is easy to learn the tools for build a social media. You can built for yourself your ecommerce business with several scrips, many of them free.

If you are thinking to start your own business maybe you should start making your own website or blog por make money by internet and explore the opportunities that your business idea could have.

You can read the NYT article mentioned clicking here on this link

Cooltronics, a real case about how make money fast with your business idea

The main founder of Cooltronic is Tyler Dikman, he has 24 years old and now sells millions of dollars by Internet.

He starts selling lemonades at the door of his house as many American children, but since these early stages he was different due to the use of marketing strategies.

His company was founded when he has 17 years old and his success was immediately.

Cooltronics primarily provides advice on the use of technology, as you can read from its website:

“For the past seven years, CoolTronics® has been helping individuals and small businesses with making the most of the what computer technology offers. While we are expertly informed computer people by training, we are first and foremost customer service providers. The most important feature in getting technology to perform is the requisite know how and support to realize its full potential. CoolTronics® has built a reputation on the notion of exceptional customer care.”

 

CNBC interview to Tyler Dikman and he gives us 5 tips, simple but worth gold coming from a winner in business:

  • 1. Always fulfill your promises, never promise something that you can not fulfill.
  • 2. Achieved a mentor. A mentor is a person with more experience in business and can guide about business. Should not necessarily be one, may be several.
  • 3. If at any time the work exceeds your capacity avoid it, ie does not grow more than you can or you could break your promises and thereby breaching the tip number one.
  • 4. Starts doing business with your friends. He points out that started contacting doctors and professionals as a hobby by understanding their technological needs.
  • 5. You never will have success or money with ideas you must to run them. Only if you run your idea you will succeed.

The video on YouTube where Tyler gives these tips can be found at the following link

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