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Business 101

Should You Start A Business

Do you really want to start your own business or are you just sick of your job and want a better one? It is important to figure out what you really want. Not everyone is cut out to have their own business. If you just want a better job, consult the career center.

If you just want to make a lot of money with the least amount of effort and are not suited to running a business, you do have one other option - INVESTMENT! Keep your job, but put aside 10-30% of your income and invest in stocks, bonds, T-bills, CDs, mutual funds, or any other investment vehicle. If you do this consistently, you will be able to make enough money where your money will support your lifestyle.

Of course this is not going to tell you exactly which product to sell or what you should do, but it is only a guideline to help you set up what is best for you. Face it, if I told everyone to sell only Betsy Wetsy dolls, there would be a flood of people selling the same thing to a limited audience and no one would make money. Your business must be individual to what you like, what you can do and how much effort you want to put into it.

Be warned! This article is NOT about pie-in-the-sky hype about how everyone can easily make thousands of dollars running their own business. This is a realistic look at all your options and you may not want to hear it. I will not mince words. Starting a business is NOT for everyone. If you are one of those people who should be not be self-employed, do not lose heart. I didn't say you would never be able to escape your job, but simply there are other options and self-employment may not be for you.

Sometimes we dream of a life without having to work on the schedule of others where we can come and go as we please while earning more money and think of starting our own business, but the question is will this be practical for you?

Often the lure of having your own business is hyped by promoters of business plans and get rich quick opportunists who promise:

The truth is, unless you are in a professional field or high-end sales, you will be at the mercy of what the business owner thinks you are worth. At that point, you have to figure how to make your worth seem more valuable to the employer. The majority of service related industry, factory, household help and so forth will always pay what they can get away with, but not much more. Those jobs are really thought of as disposable because if they do not like you, there are others they can get to fill your shoes. Sure there are forms of job protection available with unions, however "right-to-work" laws make things even more insecure. When the job market is very competitive and you have to settle for what is available and usually end up with the short butt of the stick.

Those with degrees and skills that are so valuable to an employer tend to make more money because they could always go out on their own and compete against their employers.

It can be a very rewarding thing to have your own business, but it truly is not for everyone. Whilst we can all do things on the side to make a little extra money, not everyone is cut out to completely let go of the security of a regular paycheck nor does everyone have the skills to make a success out of it. Where do you fit in?

It is very important to remember, if you want to run your own business it is necessary to conduct yourself in a professional manner. Common sense dictates that if you want to have people take you seriously with the goal that they will pay you for your goods and/or services, you have to know at least HOW to run a business in all the small details as well as the large.

Bottom line is unless you have the skills to run your own business, you will be a complete and utter failure. You do not need a business degree, but you need a bit of common sense about how business works. If you want to start your own business, ask yourself these questions:

Be warned! This series is NOT about pie-in-the-sky hype about how everyone can easily make thousands of dollars running their own business. This is a realistic look at all your options and you may not want to hear it. I will not mince words. Starting a business is NOT for everyone. If you are one of those people who should be not be self-employed, do not lose heart. I didn't say you would never be rich, but simply there are other options and self-employment may not be for you.

It is a rare business that makes thousands of dollars a day the first day in business. Those who do make "an overnight fortune" have a unique product and plenty of publicity and advertising to announce the opening day. This can be done if you have a truly new, unique product and plan a campaign months in advance. Something most people starting a business will not do as they want it NOW!

So, you want free time to spend with your family and think a home based business is the way to do it? You can involve them in the process and work together as a family and it will give you plenty of time to spend as a family.

However, if your family is not interested or does not want to be involved in your business, you will be running the show alone with some mighty long and hard hours.

It doesn't matter what kind of business you decide to run, you will have to commit to it and invest in it even if you are alone in this adventure. If this is your garden, you must toil in it to make it produce fruits.

I don't care what those fly-by-night, come on network marketers, or late night infomercial people will lead you to believe. ANY business you want to make money in will take lots of time and effort. A smart business person will figure out how to do it with the least amount of time and money, but will have to spend both for success.

Want to be your own boss? You must be a very responsible person if you want to be in business for yourself. You have to know to seek out the laws, rules and regulations in your area to practice business. You need to keep accurate records and be timely with your bills and invoices. You need to be strict with your work schedule.

If you have employees, you have to understand they are not going to have as much interest in your business success as you, they want a paycheck. It is up to you to make sure it all runs smooth. This is a heavy load for most people to carry.

All business is sales! Again, the same people trying to sell you the idea that if you get into their business you will never have to sell a thing. THEY ARE WRONG!!

How on earth would one make money without sales? Think about it! You are in business to make money obviously. From where does the money come? Your customers, downline, or others who want your services or goods.

In order to get them to give you their money, what do you have to do? Sell them on the idea as to why they need to part with their money and give it to you as opposed to someone else.

Your sales pitch can be subtle or in your face, but you will have to sell or you make no money. If you hate sales, you should not go into business for yourself.

Internet businesses, MLM, and other such get rich quick plans do not run itself. The only degree of putting your business on "automatic pilot" is in reference to being able to accept credit cards or having affiliate programs which can take orders even when you are not at the computer. HOWEVER, you will need to be at the helm to make sure people come to your site or offer as soon as they can. This means you actually have to put in the hours to reach out to find your customers.

Businesses are in perpetual need of investment whether in time or money - both valuable assets. It takes a smart business person to work out a plan to save the most amount of time, money and effort to get the job done.

And it is very important to remember, if you want to run your own business it is necessary to conduct yourself in a professional manner. Common sense dictates that if you want to have people take you seriously with the goal that they will pay you for your goods and/or services, you have to know at least HOW to run a business in all the small details as well as the large.