Archive for the ‘Entrepreneurship’ Category

Devilish With DIY? Why Not Start Your Own Handyman Business

June 17th, 2011 admin

In the era of ‘The Apprentice’ and a financial climate that’s seeing an increasing number of workers’ wages frozen, the entrepreneurial drive is growing. With the lovely Lord Alan Sugar repeatedly reiterating that we ‘can start a business out of anything’, what is actually stopping us from taking the plunge and conceiving our very own company?

For those with a natural drive for DIY the solution could not be much simpler – start your own handyman business! It’s easy to set-up since not only is a one-man-show all that’s required; you don’t need to rent out any premises and you can start marketing yourself by simply knocking on friends and neighbours doors and letting them know what you’re up to. In addition you can make your own hours, set your own wages and take a holiday whenever you like.

However, there are a few small considerations that must be contemplated prior to setting up and getting going….

Do you have the right tools for the job?

The tools needed for the occasional DIY job can differ greatly from what you’ll need if you go pro. Cheap tools for DIY projects will be built to take only lightweight and occasional use and will not hold up well if they are to commence daily wear and tear.

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Starting a Business: Don’t Let it Daunt You

June 15th, 2011 admin

Have you decided that you are bored with your job? Do you want to be your own boss? Has entrepreneurship always interested you? Have you always had the passion to work on your own?

To anyone who has an ambitious drive, starting a business is one of those things that linger at the back of the mind and surfaces particularly when the going gets rough and one feels undervalued in their day job. However, in the real world Duncan Banantyne isn’t going to hand you a wad of cash to get your idea off the ground and setting up a business when so many are folding is very daunting. It requires more work than simply coming up with an idea and having a strong desire to be your own boss. However, if done properly, breaking out on your own can be the most rewarding and satisfying endeavor you’ll ever undertake. Here are a few considerations you should bear in mind, especially during the formative stages of planning:

1)    Make sure you have work experience. Before starting out on your own you should have a few years of work under your belt. You need to be aware of how a company works, what makes a company successful and unsuccessful, etc.

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Reasons why you must have a Business Plan

June 9th, 2011 admin

There is no better feeling than starting your own business, you work for yourself, you are your own boss, you work on something you are passionate about and you create employment and opportunities not only for yourself but for many other folks around you, directly or indirectly.

If you are one of those who believe in yourself and believe in your business idea, you must go ahead and start your own business, no matter what others say.  However it’s always sensible to have an appropriate business plan before you begin your journey towards a new business.

A business plan will make you realize the strengths and the weaknesses of your business, it will also help you identify what are the potential threats and opportunities for your new business.

A business plan is a planning and forecasting document, detailing how the business will operate for next 2 – 3 years. It will have financial numbers to back your business idea. It will give you a sense of direction and a sense of certainty in what you are doing.

A business plan also helps you raise fund for your business from prospective investors, it also helps in finding potential partners.

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Buying a business in Europe – what you need to know

June 7th, 2011 admin

There are many factors that have led to the rise in purchases of businesses overseas. The internet has played its part in making the world a bigger global market than ever before, and it has certainly made buying a business overseas much easier than it may have been in the past. However, there is still a host of legislation to adhere to before you can secure the overseas business that you’ve been pursuing. So how exactly should you go about buying a company outside the UK?

France is a popular location for UK entrepreneurs and there have been many beneficial changes in local legislation recently. In France, lower transfer duties and interest rates lure many investors from overseas, and this is just one incentive. Generally speaking, the purchase of a commercial property in France works in much the same way as it does in Scotland. In France, once an agreement on price is reached, a formal agreement is signed in principle that binds both parties for a set period of time. A 10% deposit is usually paid at this time, and completion is typically reached within three months – subject to factors such as satisfactory searches and adequate finance being raised.

Since the passing of the Franco era, Spain has been the choice of many for a new business.

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5 Benefits Of Franchising

June 3rd, 2011 admin

Why are entrepreneurs buying more and more franchised businesses? Franchises are attractive to people who may not be motivated to start up a brand new business, or who may not be able to afford what it would cost to build a brand. Franchising opportunities can also be found in a wide range of industries – so there’s something for everyone.

With the high risks involved in starting a business on your own or building a brand from nothing, potential business owners may find a franchise business opportunity much more appealing.
Sure, buying a franchised business still involves some risk.  You’re investing your own money, time, and energy.  However, these 5 benefits can make it all worthwhile:

1.    Flexibility
Being your own boss gives you the opportunity to set your own hours.  If you’re not a “morning person”, you can arrange your schedule so that you don’t go into work until 10 AM.  Or, if you need an afternoon off to head to your son’s parent-teacher conference, you can do it – without asking anyone’s permission.

In fact, many franchises even lend themselves to be operated from the comfort of your own home. Some franchises are flexible enough that they provide the opportunity for growth into commercial offices or retail space down the road.

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How to succeed at owning and running a leisure business

April 6th, 2011 admin

If you are planning to buy and run a leisure business such as a gym or nightclub, you will need to do some homework and research into what is an extremely competitive market and invest a great deal of time and effort into your business plan. It is wise to consider starting your leisure business, whether a gym or a nightclub, with someone who already has a great deal of experience, particularly if you have little practical experience yourself.

The health and fitness and nightclub sectors can be extremely lucrative if you take great care over your business plan and make sure you are providing the leisure business the area you have chosen truly requires. Conduct research within the area, identify possible competition and perhaps even try a questionnaire within the busiest shopping area to gauge what the local people want through some solid market research.

A strong business plan is vital. Write in a number of business scenarios to show your bank that you have given due consideration to all eventualities. Highlight the key ideas you feel will boost profitability. Be ambitious, you will need to be to succeed, but make sure everything you propose you can realistically achieve.

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Businesses with the Highest Fail Rates

March 10th, 2011 admin

Top Three Industries with High Fail Rates

1.     Restaurants – most all home chefs and even professional chefs have thought or attempted their own restaurant. You may know of that cursed location that sits at corner – every few months a new restaurant starts up. Great cooking does not a successful restaurant make. Entrepreneurs need to realize the complexities involved with launching a successful restaurant. There are a lot of twists and turns into managing the menu, costs, and employees.

2.     Retail stores – people buy things and many entrepreneurs see that as an invitation to start a business. Some at least choose products that they love and others look to the trends. Few realize the details that are involved with handling the people, inventory and start up costs associated with retail.

3.     Online or direct marketing – this is the same concept as the retail stores only put into practice through personal contacts and the internet. Many of these companies are started because of a great sales pitch by another associate and not always because of the entrepreneurial bug.

 

The good news for entrepreneurs is that there is hope to find success. There are ways to avoid the curse of the failed business no matter what the numbers say about the failure rates.

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Introduction to Entrepreneurship

November 19th, 2010 admin
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Best country to start a business

November 18th, 2010 admin

Yet one more report which reiterates what several other reports have been saying. Most emerging economies, including the BRIC countries, are great entrepreneurial opportunities but certainly not easy places to start a business in.

Start up costs, red tape, lack of capital are just some of the problems that entrepreneurs are likely to face while starting up. A synopsis of the report can be seen at

http://online.wsj.com/article/SB10001424052748703859204575525883366862428.html?KEYWORDS=Best+country+to+start+a+business#articleTabs%3Darticle

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Making a Business Plan

November 10th, 2010 admin
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Can you work from home? Really?

July 19th, 2010 admin
Nice link in Candace Moody’s WorkSource post about working at home. She discusses an apparently legitimate website called FlexJobs that matches you with real work you can do at home. read her post below.
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