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

October 12, 2009 By Leave a Comment

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

Filed Under: Business Ideas, Careers, Finance, Make Money, Motivation Tagged With: , , , , , , , , , , , , , , , , ,

10 Tips to make a winner business plan

July 16, 2009 By Leave a Comment

I have always recommended in various articles that you should make a business plan. It is a basic step for anyone that are thinking to start a small or big business.

I have found at AllBusiness website 10 tips to make a business plan. These tips in summary are:

1. Create a vision. The business’ vision is important or maybe you could lose the success path with the detail of the day.

2. A business plan is not only a budget of income and expenses. The budget is part of the business plan but it incorporates other elements such as business environment, such as competition or my advantage in the marketplace.

3. Do not ignore your customers. You may think you know that your customers want but why not ask them their needs and desires in order to focus their business plan.

4.  Do not underestimate the competition. You are not alone and today or tomorrow you will have competitors. In addition, their competitors may be an important source of information when you are developing your business plan.

5. Be prepared to face the risks. A business plan should be have a proper risk management.

6. Get other opinions about your business plan. Submit your plan to scrutiny and assessment of other people who can give a new point of view of your business idea.

7. Expect the unexpected. The business plan should incorporate these contingencies and have the power and flexibility to change.

8. Do not forget that you are unique. The business plan is helpful but not overestimated, you are unique and the plan will help but ultimately you are the engine of your business.

9. Set the rewards for your team work and yourself. The business plan should provide a compensation system for you and your employees will serve as motivation.

10.  Do not skip the plan. Remember the business plan is a basic step that you don’t skip.

You can read the article where we got these ideas at Allbusiness website by clicking here in this link

Filed Under: Business Ideas, Finance, Make Money Tagged With: , , , , ,

Look How Big Corporations Seeking Their Business Ideas

May 7, 2009 By Leave a Comment

Learn the management models that large companies like Google, IBM, Dupont among others used to look for their business ideas.

Authors Robert C. Wolcott and Michael J. Lippitz, which are at the business school of Northwestern University have published an article in the journal of the MIT “Sloan Management Review” which identifies four models of management that large enterprises following to look for their business ideas.

Maybe you’re looking for business ideas to do at home or low budget but it is always interesting to know how the big corporations are doing the same.

The models are:

1. Opportunistic. The company provides no formal process to follow. Each business unit of the company is trying their own ideas and funding sources. This model continues Zimmer Holdings, a company dedicated to the medical category with over $ 3 billion in sales.

2. Planner. The company provides clear criteria on which you would like but let the new employees to submit ideas and then the company will support. It is the case of Google.

3. Promoter. Is the case of IBM and Motorola said the authors. These companies promote formal organizations with substantial funds then they used their ideas.

4. Defenders. There is a sort of “evangelization” of the spirit of the company such as DuPont but left to the individual business units to provide financing and managing the process.

You can read the full article from New York Times website by clicking here in this link

Filed Under: Business Ideas, Make Money, Marketing Tagged With: , , , , , ,