
America’s Best Companies (http://www.americasbestcompanies.com) is dedicated to helping small businesses stay in business, grow their business, and make more money in their business. ABC is built on the strong belief that small businesses are the most important companies in America. After all, the American Dream has always begun with the idea of starting a small business.
To carry out this mission, ABC provide small business with the tools, opportunities, and resources to compete with the existing mega-marts and giant online retailers. They strive to educate the point-and-click generation of today to recognize the unique products and personal services that local business owners provide every day.
For example, ABC provides advice on how to advertise your business through ABC's own Internet directory and several big-name local search sites like Yahoo, Yellowbook.com, and Yellowpages.com. Second, ABC publishes and hosts an easy-to-build website for your business where you can post in-store specials, coupons, photos, videos, and more. Third, the ABC website provides discounts on a variety of goods and services for all of your most common business needs.
A subscription to the America’s Best Companies magazine will provide you with the most current information and advice available to help you run your business as efficiently as possible. There is a whole lot of helpful information and resources that small business owners would be glad to capitalize on.
http://www.americasbestcompanies.com

YoungGoGetter: Simply put, buying a business presents a completely different opportunity to owning a business than the traditional “start from scratch” strategy that a lot of us are familiar with. Before jumping in, you get the chance to see how well the business is running before you make a decision. If its something that has passed your screening process and it’s something you are considering, chances are the business is structured well already. Of course, this means that there’s less risk involved and maintaining the business shouldn’t be an insurmountable task, theoretically speaking. As well, with a stable business, most likely a steady positive cash flow will accompany it. When it comes to market share, starting a business creates more competition, whereas acquiring a business maintains the existing market share. As you can see, the benefits of buying a business are clear, but before you head to the bank or go running around frantically searching for businesses, there are a few other things to consider.
Park Place vs. Baltic Ave…
The first thing you have to understand that it’s going to cost you a lot more to buy and existing business than to start your own. Built in to the cost of a business is the sweat equity, the time and effort that the original owner put into the business to start it and get it off the ground. It was them that took the risk for you and spent countless hours developing a foundation and you can expect to be paying for every bit of it. Essentially you’re paying a premium price for someone else to create a business. They’ve already created a brand name for themselves and you’re not just buying the business, you’re buying the brand name too.
Even Matlock Can’t Get You Out of This One…
You can call him up to go over a company’s bookwork with a fine-tooth comb before purchasing it, however there are some things that the books just can’t tell you. A bad corporate reputation or poor customer perception can be something that comes along with the business you bought, and that’s very tough to foresee. You are taking over the business as it is. You can’t expect to know everything about the business without being at the helm of it for some time. Old equipment, operating systems or buildings can end up costing you a lot of money to update, but outdated systems can be a great negotiating tool to leverage down the asking price if they can be uncovered before you make the purchase.
It’s a Little Better Than Working for Your Dad…
Your freedom is limited in the sense that there are current systems in place. For example, specific lease agreements may prevent you from altering any physical specifications of the building. As well, more ofthen than not, you’ll have to live with the location of the business as you bought it. Current customer processes are difficult to change too, especially if there is a lot of rapport with the existing client base and they are used to things being done a particular way. Even worse, if clients took advantage of the previous owner (not necessarily losing money, just not maximizing), it can be tough to retain them as you retrain them. On the other side of the table, you have your employees. You have to be careful not to decrease morale by making the first order of business a change in employee policy. By changing things to your requirements too fast, you can upset the delicate balance of a smoothly running machine.
Would You Miss Your Kid’s First Steps?
This may be more of an ego thing, and granted, this isn’t exactly the same thing as your child’s first steps here, but when you start a business from the ground up, there’s the sense of pride you just can’t get when you buy someone else’s business. The proverbial first steps of a business can contribute to the pride which translates into an attitude, a personality that can be manifested in the way the business is run. Many business owners treat their business like a child, even more so when they created it.
Now is the time that you stop and ask yourself, “Is it right for me?” Like I said, buying a business presents a unique opportunity with limited risk, but there are some snags to watch out for. You may pay a premium for a business you want, but with it comes the hidden items that you don’t. It’s pretty obvious that owning a business is a big deal and shouldn’t be taken lightly. This is definitely something where you need to get your ducks lined up. But, as long as you look at it from every angle a few times over, the decision shouldn’t be that hard. So…….is it right for you?
Shedding Some Light on Buying a Business [YoungGoGetter]
Posted by Charles Krugel under Human Resource,
May 28, 2008

Among my clients and many other businesses the question often arises: Do we need written employment policies or employee handbooks or manuals? The following is what I usually advise and why.
In general, there’s no statute mandating that businesses have such policies or manuals. But, relative to public sector contracts, most government agencies require that a business have such policies for affirmative action purposes. Additionally, many employment practices liability insurance carriers require, or very strongly urge, policy holders to institute employment policies. So, practically speaking most businesses that wish to engage in government work, or receive grants or some type of outside funding, or carry employment practices liability insurance, must have policies or manuals.
In other words, government agencies, many outside funders and insurance companies want to see a business’ human capital related documents as much as that business’ financial records. Thus, examination of a companies’ human capital practices is a form of due diligence. Other than these reasons to have written policies, it’s not an absolute necessity for a business to have documented employment policies.
However, businesses that wish to engage in structured planning and development, or that have grown to point where ad hoc policies and procedures are too inefficient and inconsistent should create documented policies or handbooks to avoid operational chaos and protect themselves from 3rd parties like employee side attorneys or regulatory (government) agencies.
There are plenty of cheap and free resources available to help businesses document and plan their HR policies. Some of these resources are credible. However, the problem associated with many of these generalized or template forms is that they don’t’ address the specific regulatory environment businesses are confronted with, or they don’t address the actual needs a company might have. Also, they’re not current. They’re canned.
For example, a business that’s not covered by the Family Medical Leave Act (FMLA) might wish to implement some type of family or partner leave policy. Consequently, that business might institute a policy not contemplated by the canned publications. The same goes for anti-union policies, etc. And, if that same business needs to update policies, the canned publications might not provide those.
Another problem with the canned publications is that many of them emphasize quantity over quality and form over substance. More specifically, they offer a plethora of policies that businesses may never have to address and don’t offer policies for situations that a business actually needs to address.
For example, if a company has never faced any complaint of harassment or discrimination, then having a canned and heavy zero tolerance policy addressing harassment or discrimination might have a demoralizing effect on a workforce. It might be better to address harassment and discrimination in a more general fashion allowing for a range of actions to be taken for verified infractions.
Many canned publications only address sexual harassment as a form of harassment. However, if a company has never faced sexual harassment, but has faced racial harassment, what good does a policy explicitly addressing sexual harassment do for that company?
So, after considering whether or not to have written policies, the next question to answer is what policies to have. Implicit in the above discussion is that the situations encountered by a business and its regulatory environment will dictate policy.
After deciding whether to have or have not employment policies, and which policies to have, a business has to determine what form should these policies take—a written memo, a multi-page document, a bound manual, electronic or a combination of these. Alternatively, a business might choose to put nothing in writing.
Essentially, the decision comes down to company size and complexity and purposes of the policies. The larger and more complex a company is, the greater the need for written employment policies addressing a large number and range of issues; i.e., a larger document. The smaller and less complex a business is means that it will probably have fewer issues to address, and it might not even have to put all of its in policies writing.
However, even a small company in a highly regulated or complex industry, like law, nanotechnology, pharmaceuticals or energy, will probably have to address a greater number of employment issues via written policies; e.g., safety, hygiene, record retention and destruction, and regulatory agency reporting. In short, the complexity of a company and its industry is just as good of an indicator of what form employment policies should take as is the number of employees in that business.
What the policies are intended to address is another important indicator of which policies to implement and put in writing. That is, purpose is a good predictor of what policies are needed and their form. For example, if a 20-year old business has never addressed workplace violence issues, then it probably doesn't need to address this issue via written policies. Or, at most, it might not need to exhaustively address this issue in writing. However, a two-year old business that is undergoing rapid growth, and is hiring from a population that's at-risk to violence, might need to be more proactive and address workplace violence at the outset. In this workplace violence example, company size and industry complexity are less of an indicator of policy needs and form than the intended purpose of the policy. In short, a company shouldn't seek to address issues it hasn't encountered, unless it could reasonably expect to encounter these issues in the near future, or it’s required by law or regulation to address them.
When discussing what kinds of policies to implement with clients or prospective clients, I often use the "whack-a-mole" game analogy. As soon as you hit the mole another one pops out of another hole, and this forever continues. In other words, as soon as a business thinks that it has sufficiently addressed one workforce policy concern, a new one pops up. It’s impossible to sufficiently cover every issue or circumstance that arises, and it's impossible to put everything in writing. It the opposite were true, then labor and employment litigation in the U.S. would greatly decrease.
Taking the above argument a step further, a business’ policies, no matter what form they take, should expressly acknowledge the inability to cover everything, and they should explicitly state that the policies are intended as guidelines only. For example, the policies could indicate that it’s impossible to address every situation that may arise, and that the policies aren’t intended as a substitute for common sense or reasonable behavior. They’re intended as general guidelines only. The employer understands that exceptions to the rules may exist and will be handled on a case-by-case basis. Furthermore, the policies should state that they don't create any form of an employment contract or agreement, and they can be changed at any time and for any reason without cause or prior notice by the employer (this doesn’t mean that the employer shouldn’t communicate any changes or new policies to its workforce; it’s bad management not to). Thus, the need to protect company assets makes putting policies in writing paramount for medium and larger businesses (25 employees and up) and more complex smaller businesses.
With all of this said, some businesses, especially small businesses, believe that it’s better to put nothing in writing. This way, they won’t give contentious employees and their attorneys bad ideas about lawsuits and complaints. Well I understand that logic, but I don’t necessarily agree. The reason I don’t agree is simple—unemployment compensation.
Financially speaking, unemployment compensation (“UC”) disproportionately impacts against smaller businesses to a greater extent than larger businesses. I.e., UC tends to eat up a greater percentage of operating expenses for smaller businesses than it does larger businesses. Furthermore, the people who handle UC claims tend to be sympathetic to claimants (displaced employees) because that’s who the money is for. So UC claims administrators tend to only deny benefits when the employer provides them with documented proof of employee ineligibility; e.g., misconduct, quitting work, absenteeism. Moreover, the UC claims processors usually seek documented proof of violations of employment policies. They expect the employment policies themselves to be in writing. It’s just government bureaucracy.
Consequently, as a general rule, from a cost versus benefit perspective, if a business is paying a lot in UC, it’s better that a business put policies in writing.
As a labor and employment attorney and businessperson, Charles Krugel, has represented management in hundreds of negotiations, in-house and 3rd party proceedings. Charles has over 13 years of experience in the field and he has run his own successful management side practice for the past 7 years.

Do you realize that when you speak, move or look at people in a particular way, you actually trigger off certain judgments?
Are you aware that the manner in which you speak, the body languageor posture you take on affect the people around you, and this could put you in unpleasant situations, especially in situations when people interpret your communication incorrectly.
Doing so breaks the rapport we have with others, sabotaging our communication in the process. Being aware of our language and mannerisms, we can learn how to use them effectively for the purpose of building rapport with others.
In fact, if you were to walk into a restaurant and observe people, couples especially, you will be able to tell the difference between couples who are in very close rapport with each other and couples who have been married for a long time. We just simply need to observe their body language.
For instance, if the woman is leaning forward, it is very likely that she would be in rapport with her partner, and he would be leaning forward too. The uncanny harmony makes them somewhat like mirror images to each other. And very often when one starts to move, the other also moves, making the entire communication process looks like a dance of harmony.
Their body postures look very similar too. Have you seen a couple's photograph? Take a close look at their facial expressions. Many couples tend to look a lot like each other, this is reflected themost in their smile and eyes.
This happens probably because due to the intimate contact they have had over the years, leading to a lot of unconscious modeling of each party.
Do you know of anyone who owns a pet? Most of the time, the pet somehow takes on the features of its owner, sometimes physically, sometimes in terms of their behavior.
Think about your close group of friends. I am certain you hear similar language, phrases or opinions in a social gathering. You probably share similar mannerisms, interests and even values. The more similarities you have, the greater in rapport you tend to be. These few examples boil down to one interesting fact; All of us tend to like things that are similar to ourselves.
Thus, the primary principle in rapport building is to create similarity. Similarity leads to trust, and trust leads to an open flow of communication. What results is a positive feeling of being in the company of someone you like. There are certain patterns of behavior that occur naturally in the process of communication and rapport.
Thus it is actually very easy to build rapport with other people once we understand how to use these patterns.
Adam Khoo is an entrepreneur, a best-selling author and a peak performance trainer. A self-made millionaire by the age of 26, he owns and runs several businesses in education, training, event management and advertising, all with a combined annual turnover of $20 million. His best-selling "Patterns of Excellence" is a complete step-by-step system that will literally program you for success in life.
Posted by Aine Meade under Franchise,
May 26, 2008

There are many reasons why you should consider expanding your established business as a franchise and you will find 10 great reasons here to do just that!
1. Business Growth
Your business will grow much quicker as a franchise network than an independent sole trader. New outlets will add to your business portfolio and increase your exposure, profitability and sense of business success. The costs you pay at the beginning to transform your business into a franchise will be paid by costs retracted from franchisees investing in the business.
Also costs incurred from setting up independently owned business outlets will be much higher than the costs you will have to pay for franchisee training, PR, launch assistance and so on. The long term benefits of franchising far outweigh the benefits associated with setting up independent business outlets.
2. Franchisee Investors
By the time you recruit a franchisee, they will have been through a rigorous selection process, personal and professional questions, and much more. Thus, you will be certain that when the franchisee takes on to invest in your business, they will share your passion for the business model and your vision for its future growth and profitability.
This is the great thing about franchising your business- knowing that other people share your business dream and will put all their effort into making it a success. They will be more motivated and hard working because they are sharing a business dream that works for them, rather than independent business managers who are salaried by you. Franchisees have a vested interest in the business because simply, there livelihoods depend upon its success.
3. Increase in Business Profitability
As you recruit more and more motivated franchisees and gradually grow your business franchise network, you will be in essence “weeding” out the competitions stronghold in the market your business franchise is located. In other words, as you grow stronger and bigger and draw in existing and new customers with a “new product or service” that’s different from the competition- you will be reducing the competitions impact on its consumer market.
The potential for you to attract more customers through effective marketing and advertising campaigns both on a local and national level will ensure your success against the competition of independently owned businesses.
4. Consumer Service
One thing is certain when you franchise your business and that’s the continual recognition of the one brand your franchise will offer. All of your franchisees will be implementing the same business model functions and will ensure the highest quality of service and product despite where each business is located and this will generate and maintain loyal customers.
Customers will receive the same “quality of service” set down by you as the franchisor in any franchise outlet the customer decides to visit.
5. Local Knowledge
As an independent business owner you may want to expand the business in many different locations. But researching a particular location for your business can be expensive and time consuming.
However, expansion through franchising and potential franchisees eliminates the need for research as the potential franchisee will bring to the table a wealth of information that will be invaluable for the business network expansionist objectives. You can tap into local business knowledge which you may otherwise have been unable to attain.
6. Group Purchasing
As a franchisor of an established franchise network you will be able to take advantage, as well as your franchisees, of centralised buying power from suppliers and manufacturers. An independent business owner would find it more difficult to buy in bulk and budget constraints would hamper their buying power.
As a result of this, your franchisees will be able to offer services or products at a much lower price, once again beating the competition hand down!
7. Dedicated Distribution
As a manufacturer or service provider, establishing the sales function of your business as a franchise operation provides you with a distribution network that is entirely focused on the supply of your product or service to your customers.
8. A problem shared is a problem halved!
If you choose to franchise your business you pass the responsibility of the business management onto your franchisees. This reduces the stress or problems you may incur as a company owner of a chain of independent business outlets where you will have to take care of management of all outlets.
In franchising, the franchisee will act as your manager of its individual unit and will work to the best of his/her abilities since it is a vested interest for them to do well. As a franchisor you can set out in your operations manual a section dedicated to management structures and guidelines and benefit all franchisees involved.
9. Advertising
As your network develops all of your franchisees will benefit from group advertising campaigns initiated by you, at a national and local level. Creating effective communication links between all franchisees- regular coffee lunches (telecommuting if possible), annual meetings and conferences etc- will aid feelings of “community” amongst the franchise network and in turn fuel customer referrals from one franchise operation to the next.
10. Business Success
When you choose to franchise your business the first thing you will notice is an increase in return of your investment. A franchisor’s profits are generated on much lower capital investment, and although the revenue received from the franchised units is less than that from independently owned business outlets, a higher percentage of that revenue is profit.
As you can see franchising can be an effective and highly rewarding way to expand your business. As a prospective franchisor, you must be aware that not all business people are cut out for franchise expansion. It will take hard work, perseverance, time and money to develop the franchise network and you must be prepared for this.
However, with so much guidance and help available from relevant franchise associations and organisations; franchise portals and franchise business, financial and legal consultants, you will be more than able to make the successful transition from business owned to franchise network in no time!
Good luck!
Aine Meade is a Website Editor for Franchise Direct, a leading Internet franchise advertising portal. Aine creates high quality franchise information for its international websites in the U.S., and Europe. Aine has a BA (First) in English and History; MA in Literature & Publishing; Diploma in Media Journalism and a Diploma in Marketing.
Posted by Terri Zwierzynski under People & Relationships,
May 25, 2008

Four years ago this month, Solo-E hired its first contractors: 3 fabulous VAs. Between them they handled the details of hundreds of items of content for the website, scores of newsletters and uncounted correspondence with subscribers and clients. Two of them still work for me (the third took time off with her third child and is now pursuing a career in financial planning!)
Having a long and successful working relationship with a team of contractors is somewhat of an anomaly among solo entrepreneurs. In many ways I've been very fortunate to have such talented and caring people working for me. But I also recognize some critical pieces of making it work that can be planned for - because it's not just luck!
Part I: Setting up the relationship
1. Hire people that are a good fit for you. Seems obvious, but sometimes our criteria can hinge too much on things like cost and not enough on "can I see myself working well with this person?" Establish upfront what is important to you - consider skills, work habits, communication style, friendliness, etc. - make a list and use it when interviewing and making your hiring decision.
2. Establish written expectations on both sides. Do you expect emails answered in 4 hours or 48? Want a weekly update? Not interested in chit-chat? You may have talked about these things in the interview, but getting them down on paper gives you both something to refer back to. And this should be a two-way street: what are their expectations? Do they need to hear from you when they are doing a good job? Is it ok to contact them on the weekend?
3. Keep the lines of communication open. Talk ahead of time about the best way to let each other know when things aren't working (even better, put it in writing so you don't forget). Think about how you best receive feedback - on the phone, via email, scheduled ahead of time or on the spur of the moment, etc.
4. Life happens. If you work with another solo entrepreneur for any length of time, it's likely that one of you will face at least one personal issue that takes you away from the business at hand for some period of time. These issues can be difficult to talk about.illness, depression, family issues, death. But not telling the other person will leave them frustrated because things aren't getting done and they don't know why. Most people are very understanding and willing to accommodate changes in deadlines, leaves of absence, etc., but you have to communicate first. Talking about "what would we do if" ahead of time may help.
5. Show me the money (plan). This is one place to be absolutely crystal-clear. How often are invoices sent, how much detail do you need to see, what are the payment terms, how do they want to be paid. Do they want a minimum monthly commitment? Do you want to set a monthly maximum? What about referral agreements, profit-sharing, etc.
Part II: Building and Strengthening the Relationship Over Time
6. Pay on time! If the terms say pay within 10 days - why not pay in five? Your support team is the lifeblood of your business - what better way to let them know you appreciate and value their contribution?
7. Put away the fine-tooth comb. If you've done a good job of hiring a team member, you don't need to fuss over how many hours for this or that. If you don't trust them, you shouldn't have hired them.
8. Always say please and thank you. One of my earliest lessons in business - treat everyone with respect. They may be contractors but they aren't your minions! I take time to go over every email before I send it to make sure I've said please, and I send a quick thank-you when the task is completed.
9. Let them know you appreciate them. Send a note when they've completed a big project for you, or a small gift on a special occasion. Celebrate company milestones by thanking them with a card. Be creative! Sometimes it's fun just to let them know you appreciate them, with no particular occasion attached.
10. Encourage team input. They know your business and clients perhaps better than you do! Ask them for input when you are considering a strategic change. Encourage them to offer unsolicited suggestions to improve processes, etc. - and implement them when they make sense! This also goes two ways - if you share with the team your vision for the business, your strategic goals, etc., they will be better equipped to execute the plan with you.
11. Bonus: Let my people grow! If you are like most solo entrepreneurs you are a life-long learner - and so probably are the members of your team. Give them opportunities to take on new tasks. Encourage them to make decisions and take action without asking your input (set the boundaries for this so they know when you do want to be
consulted.) Ask them what they'd like to learn, and teach them new skills. You may be surprised how much better they will be at certain things than you are!
Building a great support team takes time, effort, and caring - but you will be rewarded many times over!
Terri Zwierzynski is a self-employed business strategist and marketing consultant to solo entrepreneurs, and a grassroots promoter of the solo entrepreneur lifestyle. She runs Solo-E.com, the resource website for the self-employed which attracts thousands of solo home business owners monthly from over 100 countries on six continents (and was recently named a finalist for “Website of the Year” in the 4th Annual Stevie® Awards for Women in Business). Terri is also the co-author of 136 Ways To Market Your Small or Solo Business.

Business Entrepreneur: Whether you’re thinking it’s Spring Cleaning Time or time for an annual checkup, your business needs to undergo a checkup each year. No matter how large or small your business is, you cannot gauge the effectiveness of any changes you’ve made without analyzing the benefits and bottom line.
Here are 10 questions to get you started:
• How do your year-to-date sales compare to the last couple of years? Don’t be satisfied if you managed to match them because if sales stayed the same then you’ve achieved zero growth. With inflation, this flat growth line is a warning sign for more trouble down the road.
• What percentage of your business is from repeat customers? This is important to know because if it’s too low, then it needs to be improved. The estimated cost of getting a new customer versus retaining an existing one can be as much as five to one in terms of dollars spent. Keeping customers is more cost-effective than constantly seeking new ones.
• How long has it been since you offered a new product or service? Loyal customers like to see you changing and progressing with the times. If you’re stuck for an idea, ask your customers what they need.
• Do you consider marketing and advertising expenses or investments? How you look at the money spent in these areas affects your willingness to spend money at all. Would you look at prescriptions as a waste of money? Marketing is really investing in you, your vision, and your company. The old adage that you must spend money to make money is true, but you must spend it wisely. Spend it on ads that are pulling responses and orders, and if they’re not maybe you need to change publications.
• Do you know what PR is and how to use it to positively position your business in the media? I’ll bet that at least one of your competitors does. Nearly every mention of a company or business in the newspapers and magazines is a direct result of publicity efforts. Being quoted or featured in an article speaks volumes to your clients and readers who are your potential prospects. A good PR consultant can do that for you and show you ways to extend the shelf life of that article beyond its publication.
• Are you listed in the yellow pages? If you only have a line listing, consider including a small ad in the yellow pages. If you can afford it, it will pay dividends throughout the year.
• Do you teat your regular customers better than your drop-ins? You should. If your customers don’t feel special when coming to you for products of services, why should they remain loyal to you? Have a customer appreciation day or a special invitation only sale for your regulars. Create a mailing list of your regulars. Send occasional post cards or greeting cards for special events or just to keep in touch. Learn to recognize them on sight and greet them by name when they visit you.
• How long has it been since you really talked to one of your customers? Just as you appreciate when your Doctor takes time to talk to you, your customers will appreciate you if you take an interest in their needs. If you have a service business, have lunch or coffee periodically with some regulars – even if they only contact you once or twice a year. The personal touch in an impersonal world will be remembered.
• How is your business doing compared to your competition? Every company, no matter what the size, has competition – even home-based businesses. Is their business growing or downsizing? Is their pricing or service better than yours? If so, what can you tell potential customers about the price difference? Think about how you can improve your service to meet or exceed your customer’s expectations.
• Are your employees happy? Don’t ask them directly, but observe them throughout the day. Watch, listen and learn. Employees who like their jobs don’t watch the clock for quitting time, aren’t habitually late, don’t have poor body language, don’t spend time on personal phone calls, and don’t look like they never smiled. Observe how they interact with customers. Not everyone is a match for direct contact with the public, so make sure you don’t have an employee who is driving business away.
Business Checkup [Business Entrepreneur]
Posted by Steven Teo under Home-Based Business,
May 23, 2008

Business Opportunities And Ideas: Having racked your brains for weeks to find the perfect home business idea there can be a sense of elation when you finally decide this is it - I’ve found my big idea. The excitement can soon evaporate however when you’re faced with the next challenge - actually turning the idea into a real live business. This articles guides you through the process, suggesting what you need to be doing and why.
1) Research your market and evaluate your idea
Before you launch any business you need to evaluate you business idea ask yourself these questions:
* Is there a market for your product or service, if so is the market growing, stable or shrinking? Who says the market exists?
* Is the market in your location or accessible to you? If so is it big enough to support the business opportunity, or put another way, can reach a big enough market from your location?
* What are the risks associated with the business?
* Has the business idea been proven by another business elsewhere? Does the business model stand up to scrutiny?
* How prone is the business opportunity to competitors? Are competitors likely to be able to undercut you or offer a better product or service that you can’t match?
* What will you make from the business? Is the Return On Investment (ROI) worth the risks involved? Will you actually make more money than you spend?
Don’t be afraid to ask other businesses that service the same customer for their advice and feedback on your idea.
2) Plan ahead
It’s often said that failing to plan is planning to fail and it’s true. One of the biggest causes of business failure is a lack of cash usually because the owner did not plan for all the expenses that would be incurred. The great thing about a home business however is the low start-up costs - you won’t need a penny for office space or rates.
Create a business plan
To avoid this create a business plan. It doesn’t have to be much, it doesn’t even have to be a formal document (unless you’re raising finance) but document what you are going to sell, whom you are going to sell to, why they are going to buy from you, how you are going to deliver it and what you are going to charge them. Set yourself some goals and deadlines - most of us work hardest when we are working to achieve a deadline.
Find some funding
Create a list of all the expenses you expect to incur and if you’re giving up another income to pursue this business make sure you have at least six months of living costs saved up on top of that. Ideally you want to fund the business from savings, if you can’t then think carefully about delaying starting until you have - alternatively you can use loans and credit cards, but make sure you think carefully about the risk you’re taking on by doing so.
3) Promote yourself
Start talking to people about what you do. Get known in the relevant business community by networking and above all else start telling your target market that you exist. Make sure you do one thing every day that makes at least one more customer aware that you exist and are able to help them.
4) Get organised
Working from home is not the easy option, the husband, wife, kids, parents, cat, dog and anyone else who regularly visits your house will feel they can interrupt you at any time. On top of that there’s the distractions that fill a modern home (TV, Internet, music, the garden, etc.) so you’ll need to set some boundaries - ideally you’ll want somewhere private to work without being disturbed.
5) Just Do It!
Don’t be put off by fear, you’ll almost certainly make mistakes but they are rarely as drastic as they first seem and if you’re doing something to move your business forward every day then sooner or later you’ll arrive at your destination - a successful home business.
How To Turn Your Home Business Idea Into A Home Business [Business Opportunities And Ideas]
Posted by Marcel Sim under Entrepreneurship, Online Business,
May 22, 2008
Article contributed by Leah Nevada Page of MicroMentor.org, an organization that helps emerging entrepreneurs grow their businesses through mentoring and advising relationships with experienced peers and business professionals.
Sturdy McKee’s journey to small business success started with a pink slip. The hospital where he had been working as a physical therapist downsized and after a frustrating job search, Sturdy sat down with his wife and had a conversation about what it would take to open his own physical therapy practice.
Once started, Sturdy rapidly built a successful business, and was soon operating at the full capacity of his staff and building space. But when Sturdy began looking for a loan to help him open additional offices, banks were refusing to finance his planned expansion. Then Sturdy found MicroMentor. MicroMentor is a pioneering web-based community and social network that helps aspiring entrepreneurs build successful businesses by matching them with volunteer business mentors from around the country.
After signing up online at www.MicroMentor.org, where he described his business and mentoring goals, Sturdy was matched with a mentor, Jayshree Miller, who had worked as an accountant in the U.K. and was now looking for an opportunity for skills-based volunteering.
As Sturdy’s mentor, Jayshree worked with Sturdy through a series of phone calls and emails to help him make sense of his balance sheets, cash flow statements, and profit & loss statements. She also helped him identify areas in need of expansion. “She reinforced our opinions that we were a healthy company and that we were viable, even though we were unable to secure funding from a bank. [It] gave us the confidence to fund our own growth from our own profits.”
Now, just six years after opening its doors, Study’s physical therapy company has 5 branches and over 20 employees. And just two years after he first sought help on MicroMentor, Sturdy has returned to MicroMentor as a volunteer mentor. “Moving the business to profitability changed a lot of things in my business and my life and I hope to help other people to do that. I want to help people figure out how to plan and make their businesses viable.”

It takes a long time for a self employed business owner to build up a reputation for great customer service. I am a caring person, and putting customer service first is something I hold very dear as an important aspect of how I do business. And recently, I almost blew it. In a fit of irritation over a client's request for help, I made a very poor assumption -- and almost made an idiot of myself in the process.
As I reflected on that experience, I came up with these four elements of providing great customer service as a self employed business owner. I share them as a model of how to think about your own customer service interactions (especially those that occur via email) and as a reminder to myself too. I call it the CARE model of email customer service.
C = already a Customer!
Gaining a new customer is 5-10 times more expensive than keeping an existing customer. So doesn't it make sense that we should treat them accordingly? It's easy, when you are in a rush, to forget all the work it took to get them to be a customer in the first place. And never underestimate the wrath of a customer scorned -- a disgruntled customer is much more likely to talk to others about that one bad experience they had with you, than all the good experiences that came before it.
Customers are precious -- remember to treat them that way!
A = Attitude
Having a bad day? In a rush to get to an appointment? If you respond to a customer under those circumstances, chances are that your annoyance or hurry, even if it is not about them, will creep into your response. The words you choose are very important; doubly so if you are responding via email. It's hard to choose the best words if you are peeved or if your mind is elsewhere!
So, take time and care to respond. Find a time when you can take a few deep breaths and set aside any distractions. If you can't find the time, or feel yourself unable to curb your negative energy, get someone else on your team to respond.
R = Relationship
EVERY customer interaction is a link in your relationship with that customer. A good customer interaction, where you solve their problem and make them feel better in the process, makes for a solid, strong relationship. On the other hand, a careless response puts a weak link into the relationship. And a chain is only as strong as its weakest link!
Customer retention is all about how you make your customer feel. Use polite, professional (but not necessarily formal) language, take care to re-read what you've written before sending, and thank them, even if they are complaining. And always ask, at the close of your email, if you've solved their problem or answered their question adequately. These little things can make a big difference.
E = Extra
How can you go the extra mile when interacting with your customers? Can you deliver more than they are asking for? Or just add an unexpected measure of kindness in your response?
Include additional information or advice related to their request. Or, if you can't answer their question, do a little research and point them to a helpful resource. Add a P.S. with a personal note about their health, family, a recent trip, etc. Following up with a hand-written card or note can also be a nice touch.
Treat your customers with CARE, every time, and they will come back, time and time again.
Terri Zwierzynski is a self-employed business strategist and marketing consultant to solo entrepreneurs, and a grassroots promoter of the solo entrepreneur lifestyle. She runs Solo-E.com, the resource website for the self-employed which attracts thousands of solo home business owners monthly from over 100 countries on six continents (and was recently named a finalist for “Website of the Year” in the 4th Annual Stevie® Awards for Women in Business). Terri is also the co-author of 136 Ways To Market Your Small or Solo Business.
Some people would think that in order to start business, you need to work and that you need to accumulate capital.
There are two parts to this. The first is yes, you do you need a lot of experience to start a business. The second part is you do need a lot of capital.
A question people ask, do you need a lot of experience in a certain business to start a business, I would say yes, you do.
But people say I've never worked before and they ask, "Where did you get the experience from".
Well here's some of my personal experience that will answer this question.
Well I did work. It's just that I started very, very young. And in fact a lot of the work that I did was voluntary work. I was not paid but yes, I did.
Like for example, the first business I ever started was the mobile disco business. I started at 15 years old and for those of you who do not know what a mobile disco is; basically you own a set of equipment, lighting, sound system. And when people have got parties, like for example birthday parties, functions, dinner and dance, you go up there, you set up the disco.
And in fact, before I set up that mobile disco company, I learned it from another company by working for them part time as a DJ. Even before that, I went to my own parties and that's how it started basically
The next part is about capital. Well, do you need a bit of capital? It took me $2,000 to start my mobile disco company. A lot of people have this mindset, that you need hundreds of thousands and from my personal experience, no you don't, you can start with just a few thousand dollars.
In fact, if you asked me, I think having a lot of money to start a business is a curse sometimes. You know why? Because when you have got a lot of money, you tend to spend it. In fact, out of all my businesses, the only business which I truly invested a lot of money in was my interior design business. I invested a quarter million dollars only to lose it in a year.
The strategy is that when you've got no money in starting a business, it forces you to be creative; it forces you to think of ways to do things without needing money. And when I started, all the costs were kept variable. We didn't rent our own place. We couldn't afford it, so we worked out of our house and other people's company.
When we had no business, we have no costs and all the costs were variable and most of the staff we hired were freelancers or interns or people we paid on a project basis so all the costs were variable. There were no risks at all. A lot of the stuff we use were our own personal computers so again there was no costs at all.
Therefore sometimes it requires a willingness to learn as well as thinking out of the box. So hopefully these personal experiences will help answer the questions of those of you who are seeking to start your own business.
Adam Khoo is an entrepreneur, a best-selling author and a peak performance trainer. A self-made millionaire by the age of 26, he owns and runs several businesses in education, training, event management and advertising, all with a combined annual turnover of $20 million. His best-selling "Patterns of Excellence" is a complete step-by-step system that will literally program you for success in life.
Posted by Marcel Sim under Recommendations,
May 18, 2008
Our friends over at SBTV.com alerted us to this not-to-be-missed, free event:

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Seven Sure Steps To Choosing A Franchise
Franchising is a wonderful way to go into business for yourself. So many things have already been established for your benefit: branding, marketing, processes, products, systems, etc. Building a business through franchising has been so successful.....
Continued in BIZNESS! Newsletter Issue 68 >>>

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- 10 Things To Take The Nervousness Out Of You
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Younggogetter: This post written by Ryan, an entrepreneur, who, writes about relationship marketing, eCommerce, and other elements of business as it relates to Generation Y, on his blog, Ryan Stephens Marketing, outlines 3 reasons why you should skip obtaining your MBA.
Reason #1: It’s about PEOPLE — not rules, theorems, and formulas.
Being a great business person, or a great marketer is about connecting with people; it’s about building and solidifying relationships, and it is about making your brand a Lovemark. Managerial Cost Accounting doesn’t help you do that. I do not want to spend my life tucked away in a cubicle (or an office), but out on the streets interacting with and learning from consumers. What do they really want? How can I facilitate our relationship by providing them with the solution they are looking for?
What theorem teaches me how to do that? When you start seeing your business as a business of margins you are in danger of becoming a commodity. You can learn all the strategies in the world to get attention for your business, but what do you do when you get it? Is it sustainable? Learning about the people, your consumers and what they want enables you to thrive and consistently answer these questions. A piece of paper that dictates how well you ran regressions does not.
Reason #2: I’d rather build my network via Happy Hour and other events.
One of the reasons people decide to get an MBA is because it is a great opportunity to meet other ambitious people, and when one of them gets wealthy, they might hire you one day. But seriously, most good programs ensure that you get to hear some great speakers, work in groups with some talented peers, etc. and this is a valuable experience.
All I am saying is that I would rather do it at happy hour. Chances are you are working with some brilliant people right now. Maybe they fill stifled by their career, maybe underneath their rule-following, drone-like performances in the office they have brilliant business ideas that just need a little social lubricant to come to the forefront. I have had some great conversations with some really intelligent people at Happy Hour. I suspect it is because we do not feel confined by the rules of corporate America, but free to dream big, and showcase our passion for unique business approaches.
Aside from all of that, there are a lot of great people who will communicate with you if you make the effort. Is the CEO of Proctor and Gamble going to have lunch with you? No, the odds are not likely. However, if you contact someone in a company and tell them you respect the work they do (provided you have done your research and know what that is), and would like their advice concerning that particular field, job, etc. you would be surprised how many people would accommodate you.
Most people are nice people. Most people like helping other people. Build your network from the ground up. Just because a CEO comes and talks to your class does not mean he’s going to answer your email that you sent the next day. Take networking into your own hands.
Reason #3: I’m in too much of a hurry to waste time getting an MBA, when I could read some great books in one summer and get a very similar education.
For most MBA programs you need a few years work experience so by the time you work, then come back, then get the MBA, that’s approximately 5 years you could have been in the workforce, unleashing your ideas on the world (or at least trying to). And that’s my vantage point. I like to think of myself as an entrepreneur anxious to get out into the real world and to start making things happen.
Give me Keith Ferrazzi’s Never Eat Alone and I’ll learn about relationship marketing. Give me Kevin Roberts’ Lovemarks and I’ll learn about the future of branding. The point is a couple of good professors, business people, or bloggers could provide me with a list of great books I need to read. I could read one every other day or so and get a lot of the same education I would get in an MBA program.
Perhaps I do not get the actual experiences in terms of practicing presentations, but what better way to practice than to be giving presentations for my own company or whomever I am working with. Grades honestly do not matter that much to me anymore (I know, I know – you freak out if you don’t maintain that 4.0) but aside from obtaining higher education or that first job, when do they really matter ever again?
My aim is not to discredit or to diminish the idea of an MBA degree. I will freely admit that they can potentially accelerate your career path and provide you with a great opportunity to meet some phenomenal people and obtain some phenomenal opportunities in the process. All I am saying is that they are not the necessity that so many people believe them to be.
You can save all the money and invest your time emotionally connecting with people. You can build great relationships and hash out lucrative business ideas over a drink (or other social event), and you can obtain a solid education by reading best-selling business books by brilliant authors that probably know a lot more about that particular subject than your professor. I would say that is three pretty good reasons to skip getting your MBA.
3 Reasons To Skip Getting Your MBA [Younggogetter]
We're proud to let you know that an GetEntrepreneurial.com blog post - Seven Sure Steps to Choosing a Franchise - has been featured on EvanCarmichael.com's list of the Top 50 Franchising Blog Posts of the year.
The informative article, featuring 7 easy steps to picking a successful franchise, is written by our GetEntrepreneurial.com network expert Kimberly Ellis. Congrats, Kim! It's a great recognition of the franchising expertise Kim has contributed to the GetEntrepreneurial.com community over the years. If you haven't, be sure to check out the featured article by Kim: Seven Sure Steps to Choosing a Franchise.
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Posted by Eric Feng under Communication Skills,
May 16, 2008

Inspired by Andrew Dlugan’s recent post “Stop Rehearsing! 3 Critical Things to Do Before Your Speech“, I will like to add to his list 7 more things you can do before your speech to take the nervousness out of you.
First, let’s do a quick recap of his three excellent pointers.
1. Study the venue logistics
2. Meet your audience (extra tip: build before rapport)
3. Watch, listen and participate in the event agenda
The rationale for #1 and #2 is straightforward - to reduce uncertainty, which is usually the main cause of a speaker’s nervousness. #3 is an extremely powerful strategy that is used by all professional speakers. And I strongly recommend you to do the same if you want to create impact in your presentation. Check out how Darren La Croix, 2001 World Champion of Public Speaking does it!
OK here’s my other 7.
4. Practice aloud your 30 seconds introduction
The first 30 seconds of any presentation is the most crucial because the audience is the most skeptical, and you the speaker is the most nervous. By making sure you have memorized your introduction, you will be less likely to fumble at the start. It helps to practice aloud too so that you know how you sound like. I will usually incorporate hand gestures too. By getting your entire body involved, your mind will be conditioned to think that you are doing the actual speech. And when you are on stage, you will feel like you have done in umpteen times. This has great effect in boosting your confidence.
5. Listening to music of your choice
Music is therapeutic and has a soothing effect on even the most nervous speaker. Here’s something you can try: create a personal playlist of music that works for you. It could be music that calms your nerves or music that perks you up. For some people, it is jazz. For some, it is loud heavy metal. Well to each its own. For me, instrumental music (especially piano recitals) works best (a.k.a Kevin Kern or SENS). What I usually do is to start listening to the music as I travel down to the speaking venue. And once I am there, I will usually start setting up and if possible, I will even play the playlist using their sound system. If they don’t allow them, you still have your ipod.
6. Do something that gets you in the mood
OK I know.. this sounds vague. Let me give you an example. I always get nervous before a contest. And sometimes it can get really bad. But what calms me down is watching some of my idols do their thing on stage. That includes comedians like Dane Cook and Russell Peters. Their cool demeanor never fails to make me feel relaxed. And I like how they make their audience laugh at cue. And after watching 3 - 5 mins of their gig, I will feel all motivated to also do the same. I suspect the laughing also helps a lot. So yes, watch something light-hearted.
There was once when I delivered a speech on human connection and in order to help me get into the mood, I watched a youtube video titled free hugs, which was what inspired me to deliver the speech in the first place.
So as you can tell, the form doesn’t matter, as long as you do something to get you into the mood.
7. Clear out the trash
This is a phrase I borrowed from this underground cult movie “The Peaceful Warrior”. Trash in this case is the clutter and voices in your head. Usually the black dogs. Here are some familiar ones:
You will never be good enough. You don’t deserve to win. They are going to walk out on me… just like the last time. Aww.. you are trying to do your thing again. Don’t you remember how you failed the last time? Why did I even agree to do this presentation… I am going to screw it up. You are going to get too nervous and muck it all up! I don’t have anything worthwhile to say, I am wasting their valuable time. I am going to forget something important and look like a fool.
Most speakers empower these conversations by listening to them and believing in them. That’s why they look distracted and nervous on stage. The trick is to throw out these trash BEFORE your speech. Let me share with you one very effective way of doing so.
WRITE DOWN EVERY VOICE / CONVERSATION YOU HAVE IN YOUR HEAD.
Yes, it is that simple. All you need to do is just offload. Empty out all the voices in your head so that you can focus on delivering the presentation. What I like to do is to hand write it on a piece of A4 paper. Once I am done, I will crush the paper and dump it into the trashcan. The whole act itself is extremely liberating and really helps to keep you focused.
8. Do voice exercises
When you are nervous, your muscles tense up, including your throat. And if you don’t warm up, you will sound like a strangled frog on stage. Not a beautiful sight.
Voice exercises do not have to be complicated. Singing the scale works. Doing funny faces in private works too. Let me share with you a tried and tested procedure from a book titled “Preparing for Peak Performance”.
i. Massage your face. Loosen the jaw.
ii. Align your body, head, shoulders and spine; get grounded and breathe deeply
iii. Use sounds like “zzzzzzz”, “sssssss”, “haw” and “hoo”. Breathe deeply without lifting your shoulders
iv. Try some tongue twisters
v. Speak some key sentences from your presentation
If you have a microphone, I suggest you do a mike test too. So you know how you sound with a microphone. And of course to get used to holding and speaking from a mic.
9. Anchor yourself in a positive experience
Recall a positive experience where you did an excellent job on stage. Note your environment - what do you see, smell and hear? Be as specific as you can. The important thing is to re-experience the emotions - the excitement, relief, joy, happiness, pride etc. You can even pick a non-speaking experience like clinching a $100K business deal or a successful day out with your family. Any experience/memory that helps you re-experience the positive emotions.
As you are waiting to be called, close your eyes and relive your experience. Soak up all the emotions and then slowly open your eyes. Tell yourself that YOU CAN DO IT AGAIN. And then go do your thing!
10. Breathe deeply
If you recalled my first encounter with public speaking, you will remember how my best friend advised me to take 50 deep breaths to calm my nerves. And by the time I hit 20, I was hyperventilating. (grins)
Breathing deeply does help though… coz it helps your muscles relax. However you don’t have to do it 50 times. Sometimes doing it once is sufficient. The whole point is to help your body relax.
(Bonus) Ask yourself this question…
“Why am I delivering this speech in the first place?”
Remind yourself the value of your speech - how will your audience benefit from listening to you. Why is it so important for them to hear your message. In short, focus on your audience. That will also take the heat off you and allow you to put up a good show, because it is for a “higher purpose”.
Now go break a leg!
Eric Feng is the go-to guy if you want to learn how to impress your investors and customers through public speaking. For more tips and tactics that you can use immediately in your next presentation, visit The Public Speaking Blog.

YoungEntrepreneur: Ten Commandments of Sales:
1) Never take no for an answer
2) Give value first
3) Treat all customers like family
4) Always tell the trth
5) Prospect everyday
6) Keep a positive attitude
7) Return every phone call & email
8) Underpromise & Overdeliver
9) Never make an excuse for your price
10) Keep the faith
What do you think of the list? What would make your top ten list of commandments for sales?
The Ten Commandments of Sales [YoungEntrepreneur]

This article is contributed by John Spence, a strategy consultant and executive trainer that has been traveling 200+ days-a-year for more than 14 years working for some of the top companies on the globe.
Its a manifesto on: Achieving Business Excellence - the six key things every business must focus on to attain and sustain business success.
1) Vivid Vision:
A clear and well-thought-out vision of what you are trying to create that is exceptionally
well communicated to everyone involved.
2) Best People:
Superior talents who are also masters of collaboration.
3) A Performance-Oriented Culture:
One that demands flawless operational execution, encourages constant improvement and
innovation, and completely refuses to tolerate mediocrity or lack of accountability.
4) Robust Communication:
Open, honest, frank and courageous, both internally and externally.
5) A Sense Of Urgency:
The strong desire to get the important things done while never wasting time
on the trivial.
6) Extreme Customer Focus:
Owning the voice of the customer and delivering what customers consider truly valuable.
Download Free full PDF version here:
John Spence is a strategy consultant and executive trainer that has been traveling 200+ days-a-year for more than 14 years working for some of the top companies on the globe. He has his own website at http://johnspence.com/index.html and has compiled six key things for every business to focus on this manifesto "Change This!"
Posted by Tracey Lawton under How-To Guides,
May 13, 2008

One of the most successful online marketing strategies you can do these days is to submit your articles to various article submission websites. This is a great way to promote your services, your expertise, and, most importantly, grow your subscriber list!
It has been well documented that one-way links to your website increase search engine rankings more than reciprocal linking, and article submission is an excellent way to achieve one-way linking.
However, the downside is that it takes time to manually submit your articles, and if you have several articles, you could spend hours submitting them to the various websites. There is software available that will automatically submit your articles for you, but you do need to check this out carefully. And if you do decide to manually submit your articles you need to have a system in place that makes maximum use of your time, but also keeps a detailed record of which articles you’ve submitted where, and when.
If you have articles already written, you’re off to a great start. All you need to do now is to set up an article submission system. But if you don’t have any articles written, then you might find the task of writing quite daunting, and you’re not sure where to start.
I have always found a good article comes from working with my clients on a day-to-day basis. They might have a question that requires a detailed reply. Use this reply to form the basis of an article. For example I had one client ask me, ‘how do I get an mp3 audio file to you, and how do you turn it into a word document?’ I sent them back my reply and, hey presto, I’d got the basis for an article.
Brainstorm some ideas. Some great article titles, and which will also get you thinking, are:
[Number – odd numbers work best] Top Tips For [fill in the blank]
How To [fill in the blank].
Try and come up with three or four articles – you will probably find that you can think of a lot more!
So now you have your articles, you need a system for submitting those articles. Below are my tips for an organized and efficient article submission system (I use it so I know it works!):
1. Convert all your articles to plain text as this will make the submission process easier! Most article submission sites require plain text articles; some will allow html. You will need to refer to each site for their guidelines.
2. Create a spreadsheet to track your article marketing strategy.
3. Use this spreadsheet to track the article submission sites, log in info, and other relevant information.
4. Go to each of the article submissi