Posts Tagged ‘ business startup ’

Buying a Business May Be Better Than Starting From Scratch

Tuesday, July 19th, 2011

Are you thinking about owning a business? In most cases, I believe that buying an existing business—with real customers, a revenue stream, employees, name recognition and policies and procedures already in place—is a much better proposition than starting one from scratch.

Here’s why:

  1. Start-up risk: Experts say that 80 percent of all new businesses fail. While a good portion of these might be multilevel marketing businesses that people just give up on after a few months, the reality is that a start-up usually has little to no immediate cash flow and is often immediately crunched for working capital right off the bat. (more…)

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Dave Says: Keep a Business Start-up Simple

Monday, June 27th, 2011

Dear Dave: My husband is a landscaper who works for the state. He has his technical license and wants to start a business doing private work as well. What advice would you give to someone just starting out in this field? —Amy

Dear Amy: First, I’d check to see if there are any additional licenses required for doing that kind of work in your state and the cities in which you’ll be operating. You want to make sure you’re starting off on the right foot with any authorities or governing boards.

The next thing I’d advise is to keep it simple. There’s no reason to run out and incorporate or anything like that. (more…)

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Thinking of Buying a Small Business?

Friday, May 20th, 2011

For many people, owning a business is a dream fulfilled. But making that dream a reality takes some research as well as common sense.

As a buyer and owner of several small businesses, I am often asked what it takes to become a business owner.  Here are some factors that a prospective owner should consider before making that jump.

1. Does your spouse work? A business owner, especially starting out, should not be surprised by wildly inconsistent levels of income from week to week, or month to month. Having a spouse working a “regular job” bringing in consistent income can be a huge factor in lowering your stress during lean times. (more…)

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New Pioneers in the New Economy

Wednesday, March 16th, 2011

Franny Brennan of Asheville, N.C., is a New Pioneer.

Brennan, 37, belongs to a new breed of people that emerged a few years ago as the Great Recession sunk in across the nation. They dwell in small towns as well as large cities.

These pioneers were born out of need.

Until about two years ago, the college-educated Brennan worked as the publicist for a nonprofit organization. “It was my favorite job ever, bar none,” she said.

But she lost her job when the charity had to shutter its doors due to the poor economy.

For a while Brennan collected unemployment checks and searched for similar work in North Carolina. When that proved futile, she expanded her job hunting first across the Southeast and then nationwide.

After months of not getting even a nibble on a job, and with her unemployment bankroll evaporating, she knew she had to embrace alternative solutions. (more…)

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Turn Your Passion Into a Paycheck

Thursday, February 3rd, 2011

Conan O’Brien was sent packing from his Tonight show gig on NBC with an impressive $45 million severance package.

Few others have been so fortunate. As many people are in their second year or more of joblessness, and with many areas still combating double-digit unemployment, meaningful work for the recently terminated has not been all that easy to come by.

A growing segment of the population, however, is choosing to get back on its feet with some entrepreneurial ingenuity—people turning the things they love into business opportunities. (more…)

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Build a Business–and Sell It for Millions!

Tuesday, January 4th, 2011

Can that really be done?

Well, you could ask the mega-wealthy founders of Netscape, GeoCities and Skype. Oh, sorry for that typo in the headline: Each of these businesses, which didn’t even exist 20 years ago, was sold for billions!

Of course, you say: Marc Andreessen, co-founder of Netscape Communications Corp., and his peers in the dot-com bonanza-fest were Internet geniuses and among those rare individuals who were able to conceive the right idea at exactly the right time, knew how to run with it and then sold their companies for rich profits. Then you ask, “But what about me?”  (more…)

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A Passion for Roasting Coffee Becomes a Thriving Global Business

Monday, September 27th, 2010

Many business owners frame the first dollar they earn. Forrest Graves proudly displays a glass jar filled with $600 worth of burned coffee beans in his small coffee shop just outside of Helen, Georgia. Such a debacle seems an ill-suited memento for a coffee roaster. But for Graves, it represents his journey from passionate home roaster to professional global entrepreneur. And that’s a reminder he refuses to part with.

 “Someone actually came in the store one day and offered me $600 for the jar,” he says. “But it’s part of my rite of passage.” (more…)

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Do You Have What It Takes to Be a Consultant?

Tuesday, September 21st, 2010

Are you ready to start your own business but lack the capital necessary to buy or establish one? Then becoming a consultant might be the right choice for you. Businesses spend more than $12 billion a year on consultants, so there’s definitely a market for consultants in a wide range of areas.

As a first step, consider the timing. Are you in a position to continue drawing a salary at your current job while setting up your consulting business? That is the preferred strategy, as it takes some of the financial pressure (more…)

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Calculating Your Return on Investment

Wednesday, January 6th, 2010

If you plan to start and run a successful business, you must try to accurately predict the rate of return on your investment. This analysis must be done before you ever think about opening the doors. If done correctly, this calculation will show whether or not you will have enough money to stay in business long enough to get out of the red. Your return on investment will let you know if and when your business opportunity will make money and whether this venture is worth your energy, money, and time. (more…)

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Five Steps to Starting a New Business

Tuesday, December 8th, 2009

If you’re an entrepreneur, you’ve probably thought about starting a business. Perhaps you have come up with a great idea for your own company and are now feeling a thrill of excitement, as well as a small case of nerves. There is definitely a lot that goes on in the planning of a new business.

Unfortunately, one bad move can ruin your chances for success. However, if you follow the right steps, you can get your business up and running in no time. (more…)

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