Author Archive | Lowell

Hate Your Job? Create a Business at Home You Can Love!

By Lowell on March 15, 2015 in Blog

Obviously it is more fun doing things we like. Too often in life we are forced to tolerate things because we have no choice and this is particularly so with a job. Most companies know specifically what tasks they need done and define a job by those tasks. Sometimes we are fortunate enough to have a job that at least offers a variety of things to do. That makes it possible to like some aspects of it more than others, which helps a little to get through it.

So if you are planning on starting your own business this is your chance to design something that you enjoy doing. You might start by making a few lists that include your interests and hobbies and another one that has all your job experience and skills. Then you can drill down on each point and for example start to analyze ways you could make money from your interests and hobbies and/or with which you could use the skills you have.

Some examples might be if you really love to play golf. The first thing you might do is start a blog and start writing about golf – techniques, trivia, news stories, reviews, etc. You might include a calendar or schedule of tournaments in various geographical areas with information to help people travel to those destinations. Think in terms of attracting other golf enthusiasts to your ‘conversation’.

Then to monetize the blog you might add some ads for golf equipment – you could find outlets that have golf clubs, golf shoes, golf clothes, and other golf equipment and make arrangements to either become an affiliate or a distributor so that you would have a way to drop-ship. You could take the orders and add a ‘handling’ fee to process the transaction end-to-end.

Another example would be if you love crafts which can include candle making, soap making, candy making, baking, ceramics, jewelry, etc. You could make gift baskets that include a little of each or stay with one theme. These baskets are really festive and a lot of fun to receive on the holidays. This model is a little more intensive in that you have to consider the cost of all your materials to create your gifts, as well as shipping materials. You could then just run your ads on an auction site or online store front so that they could handle your order process, payment gateway, etc.

If you are more on the ‘office’ side of business then you could offer to do services with your computer such as running SEO campaigns for Internet businesses, offering to tutor people online in computer or Internet basics, ghostwriting or copywriting, tax preparation/accounting, or customer service. Again look at your list of skills and try to translate them into something you can do as a home business.

Being Realistic is the Ticket to Success in Your Business

By Lowell on March 14, 2015 in Blog

While dreaming ‘big’ is not a bad idea at all, we must remember who and where we are and what our limitations may be if any. It’s a simple matter of what is doable and what isn’t. So starting right out at the basics of our business plan – two critical resources are time and money.

It is all too easy to consider ‘funny money’ (credit) when you are determining how much you can squeeze out of your budget for your business each month. This however is a bad idea. Not just because you are paying interest on that money but because you have to pay the bill each month and then that is in addition to whatever it is that you charged. This adds up and all too often we can lose control – even with the best intentions of paying the full balance each month.

Do some simple math. Look at your income, versus your expenses to live. Whatever is left over would be what you have to work with. You will be very surprised though if your business is your first priority, how much ‘extra’ money you can come up with if you are willing to make some sacrifices. Is that new suit more important than your business? If not, then don’t buy it right now. Is seeing that movie the most important thing on earth? Probably not. What exactly would happen if you didn’t see it right now?

In the same way analyze what you would need to start up a business online. There will inevitably be advertising and marketing expenses associated with any business. That is probably the first priority since you need to find customers if you are going to make sales, and that is the way to do it quicker. There are many different ways to do these things online and while they are absolutely 100% cheaper than offline, there are still some expenses.

There may be maintenance fees such as your Internet connectivity, hosting, domains and various membership fees if you are an affiliate or distributor. These costs are necessary and it is not something you want to skimp on as it is important to have everything working most of the time. You will not necessarily have a lot of other office expenses like printer supplies, paper, phones, etc., as the Internet pretty much works without those things for the most part. However you will probably want some home office equipment eventually.

Everything you spend on your business is tax deductible when you file your taxes as ‘self-employed’ and even if you pay income taxes on the salary you earn from your job, you can still file your taxes for your home business and declare any income and/or deductions. So this is money you may get back in the way of tax benefits in the following year.|

At this point in the analysis you can pretty well see if it is feasible that you can afford to start a business right now with the money you have available. If you are pretty close to the line then you can possibly find ways to save a few extra dollars so that you can afford it.

Be Flexible In Your Home Business Start-Up Plan

By Lowell on March 13, 2015 in Blog

A good analogy is the difference between water and earth. Water is able to flow over, under and through any solid matter. Earth on the other hand is solid and has various limitations about where it can go and what it can do. You want to be able to ‘go with the flow’ wherever it leads at any given time. There will be obstacles almost certainly but you do not want them to ever stop you. You need to learn how to go around them if you can’t resolve them.

You want to be able to move in whatever direction you find is conducive to business. If the niche or market you have chosen is not showing any promise then at the very least you should have the ability to add additional products or services so as to fit into another niche. This is one reason why the ‘multiple streams of income’ concept is so wise. In that case the premise (for one thing) is that if one stream is not moving or has even dried up, it won’t be as serious to your bottom line if you have others that may still be performing.

Whether you are talking about business opportunities (streams of income) or you are referring to your strategies and techniques (advertising and marketing), don’t have any ‘sacred cows’. Give things a fair chance and certainly if you have it on good authority that something is effective and has been recommended, really try to make it work over a period of time. If not then let it go and try something else.

Almost nothing in this life works instantly and a week or a month is certainly not enough time to really be able to give anything a fair chance. It is so ridiculous to hear people whine and cry after a week that they have ‘tried everything’ and ‘spent X number of dollars’ and nothing is working. They are just sure that something is wrong. What is wrong is their unrealistic fantasy mindset.

Just because something is on the Internet it does not mean that it will be effective instantly. It is true that starting an online business is 100’s of times cheaper and faster than starting an offline business, but that is still not to say that effort and time – reality – is not required. That is something that really needs to be realized and acknowledged from the get-go.

No matter who you are listening to as far as how successful they are and how they are really enjoying their wealth and leisure, without any doubt this person had to pay his dues to accomplish anything, whether or not that is part of what he chooses to share with you. So get ready to work and always remember to ‘get real’.

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Author Archive | Lowell