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After 50 years of buying businesses I have become a huge proponent of buying manufacturing businesses over any and every other kind of business out there — especially service businesses. The main reason is because they are safe (from an investment point of view), have little overhead and need almost no attention, since they basically “run themselves.”

But many times I am asked if there are certain industries or types of manufacturing businesses which I would stay away from. The answer is yes. I would definitely urge anyone to stay clear of buying anything in the automobile industry.

Why?

Well, mainly because the automobile industry has exessive peaks and valleys.

What these auto companies do is they give you as thin a margin as possible and as soon as you get used to it, maybe make a slim profit one year, they’re back the next year trying to cut your price down.

So, it is very tough to make a good profit in a business like that. Plus, if you bring investors in, you’re going to have years where you don’t make enough money to get beyond the investors. In other words, there’ll be enough cash flow maybe there to pay a return to the investors…but you and your family are going to be out on welfare or something because there won’t be enough to pay yourself.

So you have to stay away from not only the automobile industry…but any industry with peaks and valleys that are continually working on you. Just like if you were buying a company that was selling to Wal Mart. I mean you have to be crazy. Yes, your volume would be good. But, at the same time, they’ll drive you nuts with their price cuts and gimmicks.

Bottom line: If you’re going to go after a business that’s making over $1 million (and that’s the best way to go, in my opinion), my suggestion is to find one with proprietary products you can control. That way you’re not going to have the peaks and valleys…you’re not going to have to guess what the newest gimmick is going to be…and you’re not going to have to spend all your time in there nervously trying to get this thing to make money.

Arthur B. Hamel has bought over 200 businesses in the past 50 years, and is a well-known author, consultant, investor, business owner, and dynamic lecturer who has shared the stage with such business greats as Robert Allen of “No Money Down” fame. For the past 20 years Art has taught thousands of people around the world — even so-called “little guys” with no formal education or money — how to quickly and easily buy large, multi-million dollar businesses with no credit, banks or prior business experience. He has recently decided to share his unique business-buying secrets and tactics free of charge at: http://arthurhamel.com

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Building a business plan can be time-consuming and tedious. It can also bring upon questions that pile up exponentially which leads to discouragement, self-doubt, second thought, and ultimately giving up. As a result, building a business plan is as far as most people ever get to start their own business. However, a business plan really isn’t that different from…say…a schedule you plan out in your head everyday as to what you’ll do throughout the day.

All businesses need a plan or blueprint. If you don’t have a plan, the business is bound to be chaotic and lack focus. I mean think about it. You’ve been taught to write an outline before writing an essay; you’ve been taught to do your research before doing a project; you’ve been taught to study before taking a test; and you’ve been taught to think before you speak. The list goes on and on. The bottom line is that we all must prepare before we act. Starting a business is no different.

As you plan out your business, you’ll discover new ideas and concepts, you’ll create new goals and visions, and you’ll review and analyze your business idea. You’ll be continuously refining your original Idea/Concept.

However, while a business plan is often needed when you are getting financing for your business, I find that most business owners don’t find them very useful. Why not? Because usually they are written from a very long term frame (typically five years) and once they are written, they are put on a shelf and never looked at again. I’m going to suggest some ways that you can get more out of your business plan.

The question to ask first isn’t “HOW” to write a business plan but “WHO” is this business plan for? If you’re a solo-entrepreneur, then a business plan is merely for you and you only; primarily outlining the goals and blue prints of your business and answering the 6 key words: Who? What? Where? Why? When? How? If you’re a small business, then the business plan is for your investors and yourself; primiarily outling future projections, company goals, customer base, markets, competition, management, financial status, investments, and etc… Once you identified the “WHO”, the “HOW” comes naturally because now you can frame your business around the people that you’re proposing the plan to.

As I’ve mentioned, a business plan for a solo-entrepreneur only needs to answer to him/herself…and perhaps a partner or two that wants in on the business. The business plan must address the 6 KEY words of:

1.) Who? - Who is our customer?

2.) What? - What product/service will I provide to the customer?

3.) Where? - Where can I find the market for our product/service?

4.) Why? - Why will the product/service I chose work?

5.) When? - When can I launch the product/service to the customer?

6.) How? - How am I going to deliver the product/service to the customer?

For a solo-entrepreneur, these questions must be answered in your business plan. The business plan you’re trying to build then should frame around these questions and provide details for each specific question. Once you tackled the 6 questions, you’ve layed the ground for your business and you can start preparing for the launch.

For small businesses, the business plan is a little bit different. The 6 questions still apply, but in a slight altered way. Business plans for small business should be filled with projections of what a venture might be able to achieve in the future. They should also be filled with facts about the venture’s past and about the market in which it operates. It is these facts that often convince an investor that the opportunity is right for them. Key areas in which facts must be presented include:

1.) The Company

2.) Customer

3.) Market

4.) Competition

5.) Management Team

6.) Financial Projections

Owner of The Rich Jerk Exclusive: Lazy? Broke? Hungry for Money?
Owner of Investing Central: Free Investing resources
Owner of Business Startups: Everything you need to know to be an entrepreneur

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Finding a home based business that is interesting to you is important! The last thing you want is a home based business that you have no passion about and dread working on every day. The following suggestions for a home based business can be improved upon and be expanded; it only takes your imagination.

The largest home based business opportunity is sales. You can run a home based business selling candles. You can run a home based business selling make-up. You can run a home based business selling anything under the sun.

A hybrid home based business is becoming more popular for sales professionals who work for a specific company. Certain companies allow their sales force to work from the comfort of their own home.

Some people make a home based business by selling products on the internet. Ebay is a large marketplace that the home based entrepreneur has flourish with. Other sales opportunities on the internet include running your own website to sell your own crafts or artisan products.

Another home based business that offers a plethora of opportunities is the service industry. Offering services to companies or individuals is a great way to run a home based business. Some common examples of services that people have made into a home based business are medical billing services, accounting services and marketing services. Any skill that another person may not have can be offered as a service including computer technical help or tutoring help.

There are many unique service-oriented home based businesses like offering a pet clean up service or offering a daily faxes to local business for some of the area restaurants.

The key to offering a service is to be able to offer it for less than the company or person is paying at the moment and offering a service that is value added. The unique service of offering a pet clean up service may not have a monetary value initially to the person, but it does have a time associated with it as well as the unwanted task factor.

If you are good at budgeting and finding ways to save a penny you can create a home based business offering your services to people or business you have a hard time finding those areas that they can save. Your service should be able to save a person or business more money than you charge them.

Working in a particular industry for a long time will give you an opportunity to start a home based business for the industry you are. Or you can start a home based business to offer services to customers that have problem dealing with this type of company. For example, dealing with an insurance agency can be a nightmare. If you have the expertise you can get paid for giving advice on how to deal with certain situations.

You can make a home based business by taking your passion in life and finding ways to make other people with the same passion ways to pursue their passion.

One of the best home based business adventures includes pursuing a hobby that is interesting to you. If you like dogs, golf, or you name it you can make a great home based business. All it takes is finding out what people want with the hobby you are interested and determining how to fulfill their want. If you like to take photos make a home based business taking and selling pictures. You can become a photographer for weddings, birthdays or any other special occasion. You can also set up a home based business playing with animals by offering a pet sitting business.

There are many home based businesses out there with people working online. Learning to design web sites and program can give you an advantage. However, you can also make a home based business by doing tasks programmers and designers don’t have time to do like writing articles or performing data entry.

There are many companies that are beginning to look at persons who want to have a home based business and telecommute. These jobs are not always readily available on most employment websites, but when you are surfing the web take a look at the employment offers web hosting or other computer based companies have available. Many of these companies have customer service positions they contract out to those wanting a home based business.

The last idea I will leave with you for a home based business includes a life style change for most people. Running a farm whether it is for horses or alpacas or even cows can be a good home based business. It can also be a good change of pace from the corporate world.

Learning a skill to run a home based business doesn’t have to be hard. Just pursue your passion!

He has been a successful online business owner since 2003. He is also owner of http://www.ezymoneyathome.com, http://www.sheetmusicweb.com, and http://www.travelinsurancedot.com

If you need help with a homebased business contact Kevin at ezymoneyathome@yahoo.ca

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If you are new to online business, like I used to be, the fastest way to start your Internet online business is by becoming an affiliate to sell some one else’s products because it allows you to make money from your website visitors without having to worry about shipping and payment processing.

The products from the affiliate owners are usually information products such as electronic books (eBook) and software that can be delivered as a file that is then downloaded directly to your customers’ computers. They could be repeatedly reproduced and downloaded and sold at no cost. There’s no packing, shipping and delivery cost.

The question you’ve to ask yourself is how can you determine which of the thousands of affiliate programs available in the Internet is suitable?

Many beginners encountered disappointment and frustration after signing up with some affiliate programs only to find out later that they eventually end up having brought in very little money if any, after wasting a lot of time and effort.

Hence the choice of affiliate programs is of utmost importance.

The most important criteria you should look for are:

1) They must offer products that the market is asking for or that are already in demand i.e. the low hanging fruit type of products, rather than creating new ideas hoping that the consumers would be convinced to buy.

2) The affiliate program must offer good commission to their affiliates. Although different people define “good” differently, generally if it could bringin about
$ 500/month as a start, it would be something worth looking into. As mentioned, affiliate programs offer high commission for their information products such as e-books and software. The owners of these affiliate programs can afford to give large commissions (50% or more) because of low cost of “production”.

3) It must be easy to set up with step by step easy to follow instruction. And the website should be simple and yet attractive.

4) They should provide you with banners, images, links, sample ads and articles and emails to help you promote their products. Besides, they should also have a good support system for helping you with any problems you might have.

Do not be satisfied only by the above mentioned points. You should conduct further research to check on the background of the organisations behind the products, their quality, reliability and reputation. Wherever applicable, testimonials must be obtained and verified.
Study the affiliate agreement and assess the organisations you’re dealing with. Check their quality of service by sending them an email or calling them to see how quickly and how effectively they respond - or if they ever respond at all. Assess their affiliate products. If you yourself are not convinced by the quality and effectiveness of the products, drop it and move on to another program.

There are sites which review, compare and recommend some great affiliate programs. You should be able to find some programs with the right categories of products to sell.

Like most search engines, visitors love content of our websites. Content is one of the most important aspects of attracting potential prospects to your web sites and prompting them to become customers based on the “AIDA” logic i.e. Attention, Intention, Desire and Action.

As far as possible, choose affiliate programs which relate to what you are already doing, and then promote those products.

Join relevant online discussion forums and seek information and advice from those who are already successful being an affiliate.

Once you’ve decided, draft a simple business plan, set target of your goals, budget your expenditure, follow the instructions given, be fully committed and go for it!

See you in the Web. Start taking your first step tonight in your pyjamas! Good luck!

About The Author
——————————————————————–

Sung-Liang Woon is a Rubber and Latex Consultant with about 25 years of experience. He enjoys writing, lecturing,travelling, playing flamenco guitar and singing. Not long ago, he didn’t know ANYTHING about Internet marketing.However, within just a few weeks, he launched his own professional website and learned how to PROFIT from an opt-in list, pull in sales with ezines, make money with writing articles and setup his own BLOG!

To find out how he has done it, please head for his Blog here:
http://www.blogwithjohnwoon.blogspot.com

And look for his posting titled “Haven’t you started your Internet business?”

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One small business idea that has a huge potential of turning into a very lucrative, thriving opportunity with the help of a good laptop computer, is a web hosting business.

Lucrative Small Business Opportunity Laptop Idea: Web Hosting

Web hosting is no doubt one of the most lucrative small business opportunities even before anybody introduces an idea that involves taking advantage of laptop technology. One of the reasons is the fact that everybody with an online presence requires a hosting service of sorts. In other words there is a huge demand for this service that is a necessity, meaning that people cannot do without it. The second reason is the fact that once a client has been acquired, they will continue to be a client for years, paying their hosting fees monthly, quarterly or in whatever fashion your contract stipulates.

So as an entrepreneur you are sure that as long as you can bring a few clients on board for your web hosting small business venture, the idea is that there is a long term opportunity to recover all your costs and make a good profit.

Going on the road to seek your web-hosting clients will give you an edge over many other hosting services that concentrate all their client recruitment efforts online. This is an especially appropriate and lucrative idea and opportunity for a small business just starting out in the web hosting business and willing to take full advantage of the latest in laptop technology.

Visit the writer’s blog to read the rest of this article and to get more small business opportunity laptop Ideas. Or hire a low cost writer who will change the destiny of your blog.

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Salehoo: T-Shirts Wholesale Tie Dye
Salehoo’s customer service is just amazing. If you are having any problems with finding products, or you need any help with your account, simply write to customer support, and you will get a quick response solving all your problems. By raising just a few points I hope I have been able to demonstrate the Salehoo truth, so learn all about Salehoo wholesalers.

Manufacturing costs are currently extremely low in China thus it is the secret to gaining a competitive edge which is the real benefit of Salehoo dropshippers. Although you do not have to carry inventory it is always advisable to have samples on hand and also the Salehoo Suppliers. Entrepreneurs are required to sign up to become a member at a nominal fee

Salehoo Wholesale Cars Trucks Orlando:
I then immediately notify the wholesaler that I am highly interest in knowing the wholesale prices of such products they have in their catalog in order to have an instant buying conclusion for making business with them today. Ebay powersellers trust Salehoo dropshippers and Salehoo prices.

You also get a step by step guide to selling on eBay, so try to join the Salehoo forums. While you may still have to use Western Union and Wire Transfer SaleHoo’s three-tier safety method ensures much greater peace of mind compared to locating and dealing with suppliers independently, which will be the Salehoo customers. See Salehoo Review.

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We all worry about competition and are constantly striving to give better service and products than our competitors. The task is almost overwhelming at times, especially if you are a home business and the only “employee” in your company. From scouting out the competition to thinking like a customer and studying their marketing method, this is a time consuming and sometimes humbling experience that is necessary to remain in the game.

While worrying about the competition is important to your business, it CAN be harmful. In fact, YOU could be your biggest competitor and actually harming yourself! Are you spending so much time investigating and trying to outdo your competitors that you neglect your other duties? If you have spent more time in the last week trying to “one up” the competition than you have spent working your business, its time to wake up!

Take a hard look the things you can do in your own business to help you succeed. Perhaps there is something you dread doing and have been putting off. Don’t procrastinate. Jump in there and get it done. The constant worry and dread of it could be slowing you down. You may also be surprised that the secret to having an edge over the competition is hidden in that dreaded task. Let the competition tear each other apart. Focus on YOUR business and how you can be the best you can be. Take a quick look around once in awhile and then go back to your business.

Competition is a fact of life. You can embrace it or let it drag you down. Investing time in yourself rather than your competition is the key to success.

Michele Neisler began her career as a full time, single work at home mom of three in April 2002 as owner of http://www.ChelesTreasures.com. Word of mouth referrals from satisfied clients has allowed her client base to grow nationally from coast to coast and become a successful brick and mortar business. Visit http://www.michele-neisler.com for more articles, resources and tips from Michele Neisler.

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1. Before you write anything down define not what you want to say, but what your message must achieve. Keep that firmly in focus at all times and use it as the main goal for everything you write. Ask yourself “does this concept/approach /clever headline/earnest mission statement/ really help the message achieve its objectives?” If the honest answer is no, alter it or rethink it completely.

2. Identify your target audience and get to know them very well. No matter how beautifully structured your message is if it doesn’t take into account the real circumstances and needs of the audience, it won’t work. Align your message’s objectives with these circumstances and needs.

3. Study the media you’ll be using; be aware of how people will receive your message and where your message will be competing for their attention, use your common sense and creativity to make it stand out in the crowd. (Or if the crowd’s too big, reconsider the choice of media if that’s within your power.)

4. Now develop your message based on these issues, and add in the final magic ingredient … “what’s in it for them?” Successful business messages are always based on benefits for the target audience - either actual or implied. Ensure you know the difference between features and benefits, and how to convert features into benefits.

5. Research the way your target audience speak and communicate, and phrase your message in their language - which may not necessarily be yours. Avoid corporate pomposity and unnecessary jargon. Talk to “you,” not some vague third party, and keep your English as simple as possible, especially when your message is going to people who originate from other cultures.

6. Traditional grammar and even spelling mostly have been thrown out of the window. However there are still a few grammar rules you need to follow if you don’t want your message to look amateurish. Your knowledge of the audience and how they communicate will dictate your writing style to a large extent. Don’t let catchwords, “internet-speak,” emoticons, etc. obscure your message or its benefits.

7. Time pressures and the influence of the internet have made us into a world of browsers, even when we’re reading brochures and other print. Unless it’s very short organise your offline text so readers who are browsing get the key points very easily. Always separate technical detail and other lengthy data from the main text so readers aren’t obliged to plod through it unless they want to.

8. Never be tempted to transplant text written for print into an online environment. Online text is as different from offline text as a PC screen is from paper. Because reading from screens is so unfriendly, online text must be very short and crisp and must make it extremely easy for readers to absorb the key points. Don’t let web designers talk you into flamboyant graphics that could inadvertently swamp your message.

9. When you give a speech, make sure you write it for yourself and your natural way of speaking - not your (or someone else’s) idea of how an important business person should speak in public. Use a tape recorder to get an objective view of your voice, style, weaknesses and strengths. Keep sentences short with only one idea in each. Avoid telling jokes unless you’re naturally funny. And rehearse, rehearse, rehearse.

10. If you think you may be out of your depth with a business writing project (e.g. a TV commercial, major direct marketing campaign, complex video or business theatre script) you’re probably right - so call in a professional writer. Don’t risk embarrassing yourself or your organisation with an attempt that’s amateurish - there’s no shame in admitting you can’t be an expert at everything!

About the Author

Canadian-born Suzan St Maur is an international business writer and author based in the United Kingdom. Read more - and check out her free biweekly business writing tips eZine, Tipz from Suze, - at her website, SuzanStMaur.com
© Suzan St Maur 2003-2005

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With today’s economy, and the layoffs occurring as a result of
these economic conditions, more and more people are opting to
start their own business. Due to the low start up costs, the
prevalence of home-based businesses is on the rise, many of
these started by husband and wife teams.

With the move from the corporate world to the home-based,
couples are finding that a new set of problems are occurring. In
the corporate arena, two major areas of importance are profits
and communication with employees. This is done through
evaluations, reviews, meetings, or a company newsletter
outlining company policies and news. All administrators realize
that a happy and informed employee is more efficient and
productive; in effect, increasing their profits.

Research on martial separation and divorce indicates two of the
main causes of separation and divorce are communication and
money, very much like corporate concerns. In the past, spouses
worked in their respective jobs, and came home to discuss what
was going on in the work place. In effect, they were sounding
boards for one another. With the move to the home front,
especially with starting up businesses together, the sounding
boards are gone.

In effect, placing couples in a start-up business can cause a
myriad of problems, previously seen only in the corporate world,
in addition to the normal stumbling blocks of starting up a
business. Too many couples working together are not practicing
good communication skills. Lack of communication, can cause one
spouse to feel that he or she is carrying all the business and
monetary responsibility.

Keep Your Marriage Solid

If you and your spouse have decided to run a business together,
be sure to discuss and outline the following:

Delineate responsibility. Decide who is going to handle what
business matters. In addition, be sure you both know how to
accomplish these functions. Unfortunately, illness occurs - you
need to be able to back up each other in all aspects of the
business. For example, if one of you does all the bank
statements, be sure your spouse understands how this is
accomplished, so if necessary, they can also handle this
responsibility. If you have a set procedure you follow and a way
you want it done, make up an outline, so it is accomplished in
the manner you want.

Marketing, return calls, daily correspondence, invoicing, weekly
and/or monthly expenses, supplies, calendaring, appointments,
deposits, bank statements, implementation of the business plan,
attendance at meetings (e.g. Chamber mixers, National groups,
User groups, etc.) all need to be taken care of. You will have
to split these responsibilities between you. Again, be sure you
know how each is implemented, so in an emergency, you can back
each other up.

Delineate responsibilities according to likes and dislikes and
who will do the best job. We all have our little niches, and if
it is something we like and do well, we can accomplish it better
and more efficiently. Once the responsibilities have been
delineated, make up a schedule for each item you both need to
deal with. Again, you must be able to act as each others back up.

Marketing is a major obstacle. Most individuals do not like to
use cold calling as a medium to promote their business. Be sure
both of you are involved. Do not let one person handle this. In
addition, develop a marketing strategy. Will you market daily,
weekly, monthly? What kind of marketing will you do-advertising,
cold calls, direct mail, etc. Again, be sure you both are
involved. This is important because money and marketing are tied
together. The more you market, the more aware the marketplace
will be of the services you offer. If only one individual is
marketing and monies are fluctuating, there is more tension
between the partners to make the business successful. No one
individual should have to carry this on their shoulders, or
perceive that they do. In addition, with both spouses marketing,
one person cannot blame the other for the success or failure of
the business.

The Most Important Tool

Remember, the most important tool you both have is
communication. Don’t expect your spouse to read your mind. Keep
the marriage and business separate. It’s difficult, especially
if you are home-based, but it can be done. If you have a problem
with the way your spouse is accomplishing a task in the business
environment, discuss it immediately. Do not wait. Do not let
this build into anger that is transferred to your personal
relationship. Remember that keeping your business and personal
relationships separate is very important to the survival of both
your business and your marriage.

In Part II of this article we will discuss how to implement this
strategy.

Copyright 2000, DeFiore Enterprises.

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