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Casual Articles - Get Smart Before You Start A New Business (Part-02) The Research Stage
If business isn't going too well you must ask yourself if you are guilty of making one the Seven Deadly Business Mistakes! If you haven't started your business yet, consider what follows - your new commandments.1. Are you caught in a Paradigm?A paradigm is an example or model. Are you so inflexible that you can't escape your original business plan? Is this causing you to miss valuable opportunities? Keep your mind open and always seek new ideas that could potentially bring greater success your way. Just because doing business a specific way worked well for someone else, doesn't mean it's right for you. If the plan isn't working, change it until it does. <
The key here is to get educated about the business you are thinking about. The chance that you have originated at absolutely unique idea is highly unlikely. That’s why you want to research EVERYTHING before doing ANYTHING. You want to think as clearly as possible about what you are doing (see my article The Power of the 5WH Formula) it shows you how to ask the questions you need to ask to get the answers you need for effective decision making.
Does this article sound like a lot of work? Aha! You haven’t seen anything yet! Many people dream about owning their own business but have no idea of the sacrifice that is paid to just begin intelligently. And really, your business will be built on the foundation of your mind and knowledge base. If you lack business intelligence now, and you refuse to gather intelligence, your business will be retarded and it will fail. Give your business a fighting chance and get Sm
A job interview is not as difficult as a beginner may anticipate. It is common to be nervous to begin with but the interviewer will save the tough interview questions for the middle or end of the actual interview. They do not begin the interview with these questions because they want you to have the opportunity to relax a little bit so that you are able to produce well thought out answers. Remember that the interviewer "puts his pants on one leg at a time, just like you", so be relaxed.Tough interview questions are the ones that are open-ended. Technical questions do not have a definite right or wrong answer, but the purpose is to show your ability to make a logic
If you are thinking of starting a business from scratch, here is a suggested order of approach:
1. Invest in at least five (5) (or more) 8.5 x 11 spiral notebooks and some pens and pencils and title them “The Business” “Management”, “Marketing”, “Finance & Legal” and “General Ideas”. You want to keep your thoughts organized by topic and write them down (all of them) as they flow into your thinking—this way you won’t lose them and this will build the data for your business plan. This is a very important step.
2. Gather as much information as possible from the Internet or the local library about the general industry sector you intend to operate. (E.g. manufacturing, distribution, retail or service). Are there sources of raw supplies for your business? Make notes on everything good and bad.
3. Search the net for businesses like the one you are thinking about to determine if there are similar businesses and what the level of competition is. Also check the Thomas Register at http://www.thomasnet.com/ for businesses, products and services. From information gleamed from research, request information packages from the competition in order to perform a competitive study (see my article on professional competition analysis). Make notes on everything good and bad.
4. As you research, take note of the things you see that you think are innovative and you could use in your business. Make a determination of the things you will need to compete on a level playing ground. Will you need a website? Will you need a storefront? An office? Will you be based at home? Is there a place that is quiet that you take and receive phone calls without being disturbed? Make notes on everything good and bad.
5. Start to make a list of all the tools, equipment and supplies you will need for your business. Price these products and estimate how much they will cost. Do you have enough money to support these acquisitions? Can you borrow the money (not a good idea) what other ways can you get the supplies that you need (try Ebay). The key: itemize everything, get price estimates and think about this over the short term. Make notes on everything.
6. Carefully consider the systems you will need to run your business including office equipment (phones, computer, printer, fax machine, scanner, software, production equipment, tools, etc. Further consider letterhead, business cards, stationary, and how you will handle inbound/outbound communications. Make notes on everything.
7. From your notes, begin to outline your business plan. This is a rough draft and cover areas like the business, management, the market, sales pro forma projections, etc. You can go to the SBA online and download business plan outlines or you can get business planing ebooks at our website. In either case, get references for creating a business plan. Start to develop a business plan whether you are ready or not. A business plan will take on a life of its own as soon as you begin to develop one. You may run into snags and roadblocks but as you gather more information the plan will start to come together… eventually, you will see the business more clearly over time.
8. Read books about business from authors whom are in business. Typically, those who teach can’t. In other words, if college professors were so knowledgeable about business, they would be out making a million bucks and not teaching, right? A book that I highly recommend to anybody contemplating setting up a business is Think and Grow Rich, By Napoleon Hill. (See my article Think & Grow Rich, What Every Entrepreneur Should Know) The book is a great read and will blow you away with excitement. It costs like $5 for a paper back version and it’s well worth it, trust me on this one….
The key here is to get educated about the business you are thinking about. The chance that you have originated at absolutely unique idea is highly unlikely. That’s why you want to research EVERYTHING before doing ANYTHING. You want to think as clearly as possible about what you are doing (see my article The Power of the 5WH Formula) it shows you how to ask the questions you need to ask to get the answers you need for effective decision making.
Does this article sound like a lot of work? Aha! You haven’t seen anything yet! Many people dream about owning their own business but have no idea of the sacrifice that is paid to just begin intelligently. And really, your business will be built on the foundation of your mind and knowledge base. If you lack business intelligence now, and you refuse to gather intelligence, your business will be retarded and it will fail. Give your business a fighting chance and get Sma
Today everybody live longer than any other generation, but today the statistics show that we are also more stressed than ever. This social problem is growing everyday and now is the moment to look for new alternatives of work. The new tendency is work at home jobs, it is an excellent way to reduce stress because you will feel more relaxed working in the comfort of your home.For many people, specially for the women working from home is the solution to the work-life balance. Work at home jobs for mom it is the best way to work and to continue being a great mom, without neglecting your family. you can handle your family and your work without no problem. Thi
2. Gather as much information as possible from the Internet or the local library about the general industry sector you intend to operate. (E.g. manufacturing, distribution, retail or service). Are there sources of raw supplies for your business? Make notes on everything good and bad.
3. Search the net for businesses like the one you are thinking about to determine if there are similar businesses and what the level of competition is. Also check the Thomas Register at http://www.thomasnet.com/ for businesses, products and services. From information gleamed from research, request information packages from the competition in order to perform a competitive study (see my article on professional competition analysis). Make notes on everything good and bad.
4. As you research, take note of the things you see that you think are innovative and you could use in your business. Make a determination of the things you will need to compete on a level playing ground. Will you need a website? Will you need a storefront? An office? Will you be based at home? Is there a place that is quiet that you take and receive phone calls without being disturbed? Make notes on everything good and bad.
5. Start to make a list of all the tools, equipment and supplies you will need for your business. Price these products and estimate how much they will cost. Do you have enough money to support these acquisitions? Can you borrow the money (not a good idea) what other ways can you get the supplies that you need (try Ebay). The key: itemize everything, get price estimates and think about this over the short term. Make notes on everything.
6. Carefully consider the systems you will need to run your business including office equipment (phones, computer, printer, fax machine, scanner, software, production equipment, tools, etc. Further consider letterhead, business cards, stationary, and how you will handle inbound/outbound communications. Make notes on everything.
7. From your notes, begin to outline your business plan. This is a rough draft and cover areas like the business, management, the market, sales pro forma projections, etc. You can go to the SBA online and download business plan outlines or you can get business planing ebooks at our website. In either case, get references for creating a business plan. Start to develop a business plan whether you are ready or not. A business plan will take on a life of its own as soon as you begin to develop one. You may run into snags and roadblocks but as you gather more information the plan will start to come together… eventually, you will see the business more clearly over time.
8. Read books about business from authors whom are in business. Typically, those who teach can’t. In other words, if college professors were so knowledgeable about business, they would be out making a million bucks and not teaching, right? A book that I highly recommend to anybody contemplating setting up a business is Think and Grow Rich, By Napoleon Hill. (See my article Think & Grow Rich, What Every Entrepreneur Should Know) The book is a great read and will blow you away with excitement. It costs like $5 for a paper back version and it’s well worth it, trust me on this one….
The key here is to get educated about the business you are thinking about. The chance that you have originated at absolutely unique idea is highly unlikely. That’s why you want to research EVERYTHING before doing ANYTHING. You want to think as clearly as possible about what you are doing (see my article The Power of the 5WH Formula) it shows you how to ask the questions you need to ask to get the answers you need for effective decision making.
Does this article sound like a lot of work? Aha! You haven’t seen anything yet! Many people dream about owning their own business but have no idea of the sacrifice that is paid to just begin intelligently. And really, your business will be built on the foundation of your mind and knowledge base. If you lack business intelligence now, and you refuse to gather intelligence, your business will be retarded and it will fail. Give your business a fighting chance and get Sm
If you’ve been reading my articles you’ve noticed an evolution in my thinking about home entertainment, and especially in how I view movies.At the beginning of the year, I unplugged from satellite, because there are hundreds of channels, many of which offer movies that make you wonder how they got financing and were made. Also, I was spending about $1,500 a year, for nothing.Next, I struggled with video stores, their late fees, and the inconvenience of spending $2 in gas to check out a $4 movie.Now, I’m experimenting with Netflix, the online and in-your-mailbox service that entitles you to see a certain number of movies for a flat fee. Right now, I’m
5. Start to make a list of all the tools, equipment and supplies you will need for your business. Price these products and estimate how much they will cost. Do you have enough money to support these acquisitions? Can you borrow the money (not a good idea) what other ways can you get the supplies that you need (try Ebay). The key: itemize everything, get price estimates and think about this over the short term. Make notes on everything.
6. Carefully consider the systems you will need to run your business including office equipment (phones, computer, printer, fax machine, scanner, software, production equipment, tools, etc. Further consider letterhead, business cards, stationary, and how you will handle inbound/outbound communications. Make notes on everything.
7. From your notes, begin to outline your business plan. This is a rough draft and cover areas like the business, management, the market, sales pro forma projections, etc. You can go to the SBA online and download business plan outlines or you can get business planing ebooks at our website. In either case, get references for creating a business plan. Start to develop a business plan whether you are ready or not. A business plan will take on a life of its own as soon as you begin to develop one. You may run into snags and roadblocks but as you gather more information the plan will start to come together… eventually, you will see the business more clearly over time.
8. Read books about business from authors whom are in business. Typically, those who teach can’t. In other words, if college professors were so knowledgeable about business, they would be out making a million bucks and not teaching, right? A book that I highly recommend to anybody contemplating setting up a business is Think and Grow Rich, By Napoleon Hill. (See my article Think & Grow Rich, What Every Entrepreneur Should Know) The book is a great read and will blow you away with excitement. It costs like $5 for a paper back version and it’s well worth it, trust me on this one….
The key here is to get educated about the business you are thinking about. The chance that you have originated at absolutely unique idea is highly unlikely. That’s why you want to research EVERYTHING before doing ANYTHING. You want to think as clearly as possible about what you are doing (see my article The Power of the 5WH Formula) it shows you how to ask the questions you need to ask to get the answers you need for effective decision making.
Does this article sound like a lot of work? Aha! You haven’t seen anything yet! Many people dream about owning their own business but have no idea of the sacrifice that is paid to just begin intelligently. And really, your business will be built on the foundation of your mind and knowledge base. If you lack business intelligence now, and you refuse to gather intelligence, your business will be retarded and it will fail. Give your business a fighting chance and get Sm
Sure there are pages and pages of articles telling you how this color or that music on you web page will encourage people to buy but here is the truth: The most important tool is the words that you use. Most people shop with emotions. Figure out a way to get them “emotional” and you have a sale!Here are some techniques that I have used in the past to get my sales moving:* Use reverse psychology on your banner ads. You could tell people not to click on your banner ad. For example "Don't Click unless you want to make money!”* Make your banner ad words as attractive as possible. Use words like ultimate, powerful, sizzling, hot, etc. Remember emotions
8. Read books about business from authors whom are in business. Typically, those who teach can’t. In other words, if college professors were so knowledgeable about business, they would be out making a million bucks and not teaching, right? A book that I highly recommend to anybody contemplating setting up a business is Think and Grow Rich, By Napoleon Hill. (See my article Think & Grow Rich, What Every Entrepreneur Should Know) The book is a great read and will blow you away with excitement. It costs like $5 for a paper back version and it’s well worth it, trust me on this one….
The key here is to get educated about the business you are thinking about. The chance that you have originated at absolutely unique idea is highly unlikely. That’s why you want to research EVERYTHING before doing ANYTHING. You want to think as clearly as possible about what you are doing (see my article The Power of the 5WH Formula) it shows you how to ask the questions you need to ask to get the answers you need for effective decision making.
Does this article sound like a lot of work? Aha! You haven’t seen anything yet! Many people dream about owning their own business but have no idea of the sacrifice that is paid to just begin intelligently. And really, your business will be built on the foundation of your mind and knowledge base. If you lack business intelligence now, and you refuse to gather intelligence, your business will be retarded and it will fail. Give your business a fighting chance and get Sm
Most businesses are like African baboons – these furry fellows race through the cornfields, picking corn and stuffing it under their arm. As fast as they stuff the corn under their arm, it falls out the back, but they keep on picking and stuffing! By the time they get to the edge of the cornfield, they are carrying one corncob and they’ve left a trail of corn on the ground. This is how many entrepreneurs handle customers. They’re so busy getting new ones that they neglect and lose their existing customers out the back door. Attrition spirals out of control and yet they continue to spend more money on finding new customers.We know it’s far more affordable to
The key here is to get educated about the business you are thinking about. The chance that you have originated at absolutely unique idea is highly unlikely. That’s why you want to research EVERYTHING before doing ANYTHING. You want to think as clearly as possible about what you are doing (see my article The Power of the 5WH Formula) it shows you how to ask the questions you need to ask to get the answers you need for effective decision making.
Does this article sound like a lot of work? Aha! You haven’t seen anything yet! Many people dream about owning their own business but have no idea of the sacrifice that is paid to just begin intelligently. And really, your business will be built on the foundation of your mind and knowledge base. If you lack business intelligence now, and you refuse to gather intelligence, your business will be retarded and it will fail. Give your business a fighting chance and get Smart before you start!
To your success!
Copyright © 2006 James W. Hart, IV
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