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Category: Business

The Pros and Cons of Doing Business

Are you tired of carrying out the orders of your boss? If so, perhaps going into business would sound like a great idea to you. Doing business has its ups and downs. In terms of profit, business offers more perks as compared to employment. However, if you venture into business, you will have to carry a lot of responsibilities. If you are prepared for the best and worst, a business venture can be a good option.

Most of us focus only on the good things. This is why we get surprised whenever we run through the bad ones. As an entrepreneur, it’s important that you pay attention or check out the downsides of your business before you start. Doing so will give you an idea on what to expect from your business when things go wrong. Aside from knowing what to expect, you will also learn how to counter or prevent unfavorable things from happening.

No matter how hard we work, our business will still have its bad times. After all, there’s no such thing as a perfect business. This is why it’s always better to know what to expect from a business. Below are the advantages and disadvantages of a business whether you’re a newbie or professional.

Advantages

We shall limit our discussion on three advantages of going into business. These three are usually what we want to have in our life. Regardless of your business, you’ll surely enjoy these benefits as an entrepreneur.

More Earnings

Going into business allows people to make more money out of their work. Unlike with employment, business has a higher reward ceiling in terms of earnings. In business, you can earn from a few dollars to millions depending on your success. If you are successful, you can expect impressive amounts of earnings.

Entrepreneurs have a higher chance at hitting financial success than being a simple 9 to 5 worker. You can find several reasons why they are close to success. One of the best reasons is because of the many opportunities that are open to entrepreneurs. If you are in business, all you need to do is choose wisely on which opportunity to pick. If you’re smart, you’ll end up with a perfect business. It’s a fact that a good business means more earnings.

Generally most of us are going into business because we are pursuing financial security. If not, then we would most likely pick employment instead of being into business. Despite its higher reward ceiling, being an entrepreneur can be quite demanding and at times frustrating.

You are the Leader

One of the best benefits of going into business is the fact that you are in control of everything. In short, you are the boss of other people. So instead of following orders, you are the one who’s giving them out. Being in control is a good thing, especially if you are the type of person who doesn’t like being ordered around. Instead of following orders, you’re the one who’s giving them to your employees.

Although being the boss of your company may sound cool, it actually comes with lots of responsibilities. As a leader, you should be able to work with your employees properly. You should also make sure that you provide their needs financially, emotionally, mentally, and physically. Leaders don’t just push their employees around. They help them become better workers. If you’re just into business to boss around, you’re not actually helping your company or yourself. Successful entrepreneurs are leaders, not bosses.

You Own Your Time

Lastly, being able to work out your own schedule is a good thing. As an entrepreneur, you can actually adjust your time frame according to your preference. It’s one of the reasons why businessmen can arrive late or go out early. However, you shouldn’t go home early if there are still problems that need to be addressed within your company. At the same time, you should be early to work if your company requires your presence. If everything is going fine though, you can always adjust your time to what suits you the most. In case you want to spend more time with your family, you can easily do so as you can tell your next in command to take over for you. It’s one of the perks of being an entrepreneur.

Successful entrepreneurs don’t spend their whole day at work. They also find time for themselves. As a family man, you can strengthen your bonds with your wife and kids if you spend more time with them. If you’re a single person, you can have fun with your friends or find the other half that will make your life complete. Regardless of your status in life, being an entrepreneur will make sure that you have enough time for yourself or for your loved ones.

Disadvantages

As mentioned above, you need to know the disadvantages of going into business to avoid being surprised. In addition, it’s always better to know what to expect once things go wrong with your business.

Financial Risks

As an entrepreneur, financial risks are your worst nightmares. More often than not, they are experienced if you are not doing the right things. Entrepreneurs who don’t have good business plans as well as proper execution, often fall into financial problems. In most cases, they lose their capital investments. Sometimes, they don’t earn enough to make a profit out of their business. These are crucial disadvantages that can break down a business regardless of its size.

Sometimes, you may find working as an employee as a better option. Unsuccessful entrepreneurs find that their income is unsteady and at times insufficient. It’s one of the financial risks that you’ll encounter as a business person.

Longer Working Hours

Once things go wrong, you’ll be required to stay late at work. As the leader, you need to make sure that you fix the problems before they go out of control. One way to make sure that you are in control of the situation is by addressing the problem. Normally, it doesn’t take long before you can fix an issue. In tougher situations though, your presence is needed for a longer period of time.

Good entrepreneurs don’t leave their men hanging or burdened with problems. They make sure that everything is ok before they leave the office. In addition, they are the last person to leave the place once everything has been settled. These are the marks of a good leader as an entrepreneur.

Firing of an Employee

You know what sucks about being a leader? It’s when you fire one of your employees. The fact that you’ll be cutting the source of income of a person can always be considered as a disadvantage. Nobody wants to fire someone from work. However, you don’t have to keep a person if you no longer require his service. In some cases, separating ways with your employees can be painful, especially if you really like your workers. Layoffs are the worst times in a company. It’s one of the disadvantages that are quite difficult to address. In fact, you can’t make improvements on how to fire an employee from work. While you can always say it in a nice way, there’s nothing good about getting removed from your work. As an entrepreneur, you’ll be doing some firing while you are running and managing your business.

If you plan to run a business, you should get yourself familiar with these pros and cons. The pros will get you moving while the cons will give you warnings and remain alert most of the times.

October 14, 2014     0 Comments

The Internet and Your Business

If you’re a businessman and you’re still wondering as to why you should have a website, then you’re way behind the competition. You are probably losing some business opportunities because you have not established a web presence for your business. Now is the time to learn how to use the internet to your advantage. Chances are that it won’t make your business into a billion dollar enterprise, but you can maximize it. Read on for some ideas on how you can use the internet for your business today.

What the Internet Can Do

Before we go and discuss the steps that you can take for using the internet for your business, you should know the benefits that it can give your business first. The internet can help in promoting your business for example, like no other instrument can. Ads on newspapers and television can reach far but the internet can go further. The internet can also extend your market. You can have the whole world as your market if your kind of business can handle that. It can also cut down your costs because promoting on the internet can be a lot cheaper than using other means. You can also use it to connect with your customers like never before.

Here are some of the steps that you can take to use the internet for your business.

Create Your Own Website

In order to establish a web presence for your business, the most basic step that you can take would be to create a website for it. If you want, you can do this on your own. There are many tools available which can help you to create a website even if you have no previous experience in doing so. You can also hire a professional web designer who can create the website for you from scratch. Even if you do hire a web designer you should still try to learn as much as you can so that in the future you can do things on your own.

The domain name of the site should be that of the business itself. There are times though when that isn’t practical, so you have to pick something that’s relevant. The site should contain information about your business, about the products that you are offering or services. The prices of the services should not be missing from the site. When a potential customer visits your website, they should be able to find answers to most if not to all of their questions.

On top of the information about your business, you should also provide some relevant articles about the business and field that you are in. The articles can be a means of promoting your site, but in an indirect way. Once you have established your website you can submit its name to a website directory. Such directories can refer visitors to your site.

Online Advertising

We have mentioned before that advertising online has a far reach. You should take advantage of that and the best way to do so is to use PPC or pay per click advertising. In this system of advertising where you do not pay an upfront amount for your ad to be displayed, which is how it works with newspapers. Your ad will be displayed on websites that are related to it and you only pay when someone clicks on those ads. Clicking on the ad means that the person is somehow interested in the service or product that you are selling. So the money that you pay for the ads would be worth it.

Use YouTube

YouTube is one of the most popular websites in the world today and everyone visits it. That’s why YouTube can be such a powerful tool for promoting a business. Since you can share videos on the site, using YouTube would be more like creating advertisements for TV, but it can be more than that. You can share with people what your products and services are and where they can reach you. But you don’t have to stop with boring videos. You can try to create a YouTube channel for your business and come up with videos that would be liked by a lot of people. Your aim is to generate attention with the video and make it go viral. When you have a video that goes viral then you are sure to get some traffic to your site and get some conversion from that.

Participate on Forums

You can also present yourself as an expert on matters that are related to your business and then offer help to those who need some advice. You can do that by participating in forums or blogs that have something to do with your business. By showing yourself as an expert, people will have the tendency to trust you and listen to you. You can then use the opportunity to promote your site and your business. Start looking for forums that you can join. Just be sure that you can offer some genuine and useful advice so that you can help people.

Using Email Marketing

You can also use email as a way of keeping in touch with your customers. But you have to be careful in using this step. Many consumers are annoyed at the way that some businesses are spamming them. Those are unwanted emails being sent out. So you need to make sure that you are sending out emails that have real and useful content.

Get on Facebook

Facebook is one of the most popular sites in the world today and you should use it in order to promote your business. Setting a Facebook page for your business is a must these days. You can use this social networking site in order to connect with your customers. They can leave comments on the Facebook page of your business for example and you can answer them on a personal basis. That would be taking customer service to a level that you have never seen before. There are social networking sites that you can use, but Facebook is the most relevant today.

Google+

A more recent addition to the array of social media sites that can be used for businesses is Google+. It is still unfolding, but it would be best if you were to jump ahead of the rest. It is best to establish your business there ahead of the competition.

Use Online Surveys

Another powerful way that you can use the internet for your business is by using online surveys for it. One of the best tools for that would be surveymonkey. You can actually use that on your own site. That would reveal some information about the market which can help you in coming up with a strategy for your business. You can ask your customers for feedback regarding the products and services that you have and as well as the promotions. Just make sure that you keep the survey short and interesting.

These are the ways that you can use the internet in helping your business. Just remember that with all of your online interactions should always be polite and considerate. You should never write or share anything there that can offend others since it will damage the image of your business.

May 21, 2014     0 Comments

Weird Works: The Most Unusual Business Ideas Ever

The weird and the unusual ideas fascinate and intrigue many of us. Perhaps it makes us curious about things that we find hard to believe or understand. And even when we actually believe and understand it, we are made curious of how different it is from what we have come to accept as normal and usual. If you are into business or is thinking about an idea that you can turn into a business, you’d perhaps be fascinated with weird and unusual business concepts yourself. Yes, the business world is full of the weirdness that many of us are just so interested in.

What you or anyone else interested in business should take note however, is that it doesn’t matter if the idea is a little different as long as it works. With that in mind, let us take a look at some of the most unusual business ideas ever. You might just become inspired by these and think of an unusual idea or concept for a business yourself.

Rent-A-Chicken Business

Yes, you read it right – Rent-A-Chicken. Now anyone who is going to encounter this idea for the first time might find it laughable and there are also those who might find it a little bit bizarre. But notwithstanding anyone’s reaction, it is indeed for real. The first and most obvious question to pop up though, is this, why get into such a business and who would want to rent chickens, anyway? The answer to that question might surprise you, because there are indeed people who would like to rent chickens for a limited amount of time. Those people are the kind who might want to get into urban farming but are unsure if they would be able to take care of chickens for the long term. They want to find out if they have it in them to take care of chickens.

No one would like to get plenty of chickens all at once only to find out that they do not have the patience or the interest for it. Enter Rent-A-Chicken to try and help out. This company that’s based in Traverse City, MI would provide everything that’s needed for a brood of chickens to be taken care of for the summer. The cost is $250, and for paying that amount you’ll be able to learn if taking care of chickens is indeed for you.

Romance Novels That are Customized Just For You

Imagine romance novels that are customized for you. Yes, you can finally be the star of your very own romance novel and you have YourNovel.com to thank for the opportunity. Originated by J.S. Fletcher and Kathy Newbern, a real life husband and wife writing tandem, YourNovel.com will place any couple into their very own personalized romance novel and feature them as the heroes of the story.

Couples who’d like to star in their own stories are given dozens of options, with various themes and locations all over the globe. Themes could be detective and similar adventure stories and the locations could be exotic beaches and other parts of the world. Couples who’d want to get featured can provide personal details like eye colors, place where they work, names of their best friends, what they call each other, and many other interests that they have. This will ensure that the novel is as personalized as it could possibly get. The couples could also choose the kind of story that they want to star in – it might be cuddly, sexy, steamy, or even a little wild, it is based on what they actually want. Cost of the personalized novels are $49.95 for the paperbacks, $74.95 if a photo is included and for hard covers it’s $84.95, $99.95 of it has a photo.

Smash Things to Feel Better

Imagine a place where you could get to smash things if you are feeling angry or upset so that you could feel better again. Now that would be an awesome, if somewhat, unusual place. But such a place does exist, and it is known as The Smashing Place and it is located in the city of Tokyo in Japan. In that place, you can hurl plates at a wall if you are feeling too stressed out at work or if you happen to be angry at someone or something. The act is meant to help you release your pent up emotions and it make you feel good again. Clients of The Smashing Place can simply go there and buy cup or plate of their choosing and then proceed to smash it against a concrete wall within the place. And aside from throwing the cups and plates against the wall, clients could accompany it with shouting, swearing, jumping up and down, stomping their feet, and anything else that they could do to relieve them of their stress or anger.

Hangover Helpers

Nobody wants to experience a hangover. It is one of the worst feelings and experiences that anyone could have after a wild night of partying and drinking with your friends or even if you simply decided to drink all by your lonesome. It’s just not a good feeling and often it involves you having a massive headache and you are feeling so dehydrated. On top of that, your house or your apartment has just been royally thrashed and yet you are in no condition to do something about it, or at least you feel that way. But despair not, for Hangover Helpers is there to help you out.

This business is actually made up of a couple of guys from Boulder, Colorado who are ready to go to their clients’ home and help them get back to their normal selves, not to mention help them out with their messed up homes. The two usually go to their clients’ homes and bring along some Gatorade and a breakfast burrito. They would then proceed to clean up every room of the residence where the partying and drinking occurred. And their service does not end with cleaning rooms, but also includes cleaning the dishes and everything else. Hangover Helpers have already been featured on CBS and in Regis and Kelly, proof that it is gaining popularity.

Reconnect With Your Roots

Who wouldn’t want to reconnect with their roots by researching and rediscovering their family’s history? It is definitely a way of getting to know one’s self even more as well as reaching out to other family members that the person involved haven’t met before. And it is about knowing where you came from and who you really are. Those who want that to happen could seek help from Ancestral Discoveries. This particular business offers help to people who want to do a little research about the history of their families. It was started by Janice Sellers in 2006 and aims to help those who are having difficulty in proceeding with their own research or those who are not up to the task of doing any actual research all by themselves. The fondness and interest that Sellers had for family history led her to believe that she could make a career out of helping other people research their family histories.

These are just some of the weird business ideas that have been tried and the thing is that for the most part, they work. Do you have some weird idea you want to try out?

May 9, 2014     0 Comments