Archive for November, 2018

Small Business Investment Ideas – Starting Your Own Dollar Store

November 27th, 2018

There are many lucrative small businesses out there that are easy to start up. One of my favorite small business investment ideas is starting your own dollar store. It might seem like it would take a huge investment, but it’s not as expensive as you might think. It’s a great way to get started as your own boss and make a huge profit.

The first thing you will need to do is find a wholesale company who will sell bulk products for cheap. You will be selling everything for $1 a piece, so try and keep your costs to under $0.10 a piece for each product. There will be exceptions to this rule, as some items you’ll know will be big sellers, but it is a good general rule. Also be sure to do your research in your area to see what products you think will be in high demand.

You’ll then want to scout out a location for your store. Try to find a place in a high traffic area that has a history of a lot of foot traffic. Locations near shopping malls and groceries stores tend to be good options. When people walk by those stores, they are typically ready to buy things – so they’re a great target for your business. You might also consider areas where people might be looking to kill some time, such as near schools or movie theaters.

This small business investment idea is a great one, because you’ll be able to run your own business and make a ton of money. People are always looking for a bargain, why not be the one to provide it for them?

Small Business Investment – Knowing Which Small Businesses to Invest In

November 20th, 2018

Every business can use a helping hand financially, from the big to the small. Many investors will avoid infesting in small businesses because of the lack of security involved with them, but there can be great profits to be made with this kind of company if you know what to look for. Choosing the right business to invest in will make all the difference in determining whether your money turns to profit or not. Here are some tips that should help your small business investment go as smooth as it possibly can.

When you first get involved with small business investment, you may want to steer clear of new businesses. Even if they sound like they will be amazing to work with, there is just going to be too much risk involved with a new business for it to be worth your time. After you know your way around investing a little more, you may look into putting money into an up and coming business, but not until then. You need to be able to make wise decisions about your money, and that may only come with experience. Focus on established small businesses before you do anything.

Once you have selected an established business to invest in, you may want to have a look at their business plan to see what the goals are for the future. As an investor, you should have a say in what goes on with the financing for the business. If you feel that there would be better ways for your money to be spent, be vocal about that. Then you can make sure that the small business has a chance of succeeding beyond where they are right now. If you are not able to put forth your opinion about the business financing, then you need to go somewhere else with your money.

It is always a good idea to choose businesses in markets that are expected to grow rather than decline. While you cannot predict how the market is going, it would be illogical to invest in DVD players over Blu-Ray players nowadays based on what people are starting to buy. The same comparisons hold true in almost all markets, so just be safe about throwing money into a company that is headed down the wrong path. You can trust your instincts for a lot of this process, and ultimately you should be able to see profits from your small business investment.

How to Know If You Are Making a Good Small Business Investment

November 11th, 2018

Making an investment is a very important thing to do if you are into the home based business industry. Some people see the value in investing while others think is a waste of time. Now the funny thing is that neither opinion is wrong because you will encounter certain promotional methods that will give you good results while you will come across others that don’t produce anything at all. This article will further instruct you on the best way to determined whether your investment was a good one or not.

The best way to determine if your small business investment was a good one or not is simply to follow the ROI formula. Now you are probably wondering what those that fancy word mean, well it is quite a simple term that stands for your Return On Investment. To understand what this is you must understand a little about business math, so here is a quick example lesson.

Lets pretend that the promotional method that you chose to use cost you 50 dollars for the month of promotion and in that month because of that promotional method you were able to make 200 dollars in your business. Now in order to get the ROI of this example you take your initial investment from the total amount you gain from that promotional method. In this case is 200 dollars minus 50 dollars, which equals to 150 dollars. Now the 150 dollars is your profit and your investment was 50 dollars. So if the promotional method follows the same pattern for every 50 dollars invested your ROI will be 200 dollars, which means 150 dollars profit.

Once you get the hang of this formula you will be able to tell if the investment is a good one or not by just calculating the ROI and the profit that you make from it.

6 Business Investments Every Entrepreneur Should Do to Achieve Success

November 5th, 2018

How my Growing up on a Farm Fostered The Truth About Building a Business that Will Save You Wasted Time, Money and Effort in the Long Run

When I was 9, our family moved from Vancouver to a 10-acre farm in Bradner. The shock of moving from a city to a farm was definitely felt by all of us but for my Dad, it was his dream of being a farmer coming true.

We were all put to work, much to my brother’s and I chagrin. Mom and Dad continued to work full time in Vancouver so their day meant getting up very early to feed the cattle and milk our cow, Emma, before driving the hour long commute.

When they returned, the evening chores were done in between getting the old farmhouse in working order. Installing a hot water tank was Dad’s top priority!

To say they were truly invested in making a go of it was an understatement with that kind of commitment.

Last year, due to health reasons, my Dad had to sell the farm and let’s just say his return on his investment was immense.

Thinking back at the hard work and sacrifices we made in getting the farm operational got me thinking about how I developed a strong work ethic and built my own business, as a result from that experience.

Of course, we aren’t a farm but similar principles apply when wanting to protect your business investment.

Here’s 6 investments you should make in order to protect your own business investment:

1. Invest in Your Commitment

Just like my Mom and Dad, you need to invest your time be truly committed to your business in order to see success. Be “all in” and not let any excuses get in the way of doing what needs to be done.

If it means getting up an hour early so you can get your family needs taken care of first before heading to the office, then so be it. And if it means not watching TV at night and instead working on your business priorities, then do it.

Take the “No More Excuses” approach and your business will soar.

2. Invest in Your Brand

Your brand is not just a logo but is the overall “essence” of your business. It encompasses how you present yourself to the public by way of appearance, how you behave, how you speak and how you “are”. Your brand is also the quality of product of service you provide.

The visual representation of your business is also a big part of a brand. This is where a professionally designed logo is a must but also everything else that is viewed by the public such as your website, your marketing materials, your social media platforms and even your business card.

Your brand can literally make or break your business success. When all factors are put together, a brand will produce either a positive or negative impression on your potential customers. So a proper investment in your brand is vital for business success.

Just like when Dad would take his steers to auction, other farmers were judging him based on what they see and use that to determine if he was trustworthy to purchase from or not.

3. Invest in Yourself

I meet a lot of entrepreneurs who are very hard on themselves for not knowing everything they “should” while running a business. In fact, many secretly are just waiting to be called out as being a fraud.

The truth is, no one knows EVERYTHING! It’s impossible to live up to that kind of expectation; however, it IS important to invest in yourself when it comes to staying on top of what’s happening in your industry.

Whether it’s learning about new grain mixtures to feed to cattle like my Dad did or staying on top of the latest technologies that support your business, there always needs to be room for this kind of investment in your business.

4. Invest in a Professional Website

Well you knew I was going to add this in, right? Just like it’s important to invest in your brand, your website is a crucial investment that must be taken seriously.

Since your website is literally your sales presentation that’s working on your behalf 24 hours a day, 7 days a week, it must be given the attention it deserves.

It is definitely required to have a unique, professionally designed and built website that is mobile friendly so anyone can easily access the information needed regardless of device used.

Dad would never be able to operate the farm if his barn wasn’t functional and the cow’s needs were not met due to him wanting to cut corners and build a shack instead.

Don’t have a shack for a website, invest in a proper one that will represent you professionally and get you the results you need.

5. Invest in SEO

Having a website isn’t enough. Just because you built it, doesn’t mean anyone knows it exists so you must implement search engine optimization strategies to drive qualified traffic back to it.

By qualified, I mean getting it in front of your ideal target audience – the ones that are prime to do business with you.

Dad didn’t have the convenience of the Internet back then to sell his livestock but he knew the importance of placing an ad in the local newspaper on a weekly basis. Attending auctions and getting visible in front of local farmers was his version of SEO so people knew of what his offerings.

Find a qualified SEO specialist to help you with this. This is one area where investing in your knowledge might not be ideal unless you are a web developer. There’s a lot of know-how involved in building and optimizing a website so it performs ideally for you so let an expert help with this.

6. Invest in Marketing

No matter how much you implement the Law of Attraction and meditate about the success of your products or services, you must market them in order to get sales.

Many entrepreneurs find this part difficult to do – it feels sleazy to them and inauthentic. I beg to argue. No one is saying you have to be a pushy sales person that lies and scams people in order to make a sale.

But what you DO need is to create a consistent marketing plan that will build your reputation as someone who is knowledgeable in your industry, nurture prospects into trusting you and creating easy methods for people to buy from you.

Luckily for Dad, big auction houses took care of all the marketing for him and other farmers but if none of that marketing happened, they wouldn’t be in existence. People have to know you exist and what you have to offer in order you’re your business to succeed.

Are you willing to follow these 6 business investments in order to achieve your dream of success?