Business Plan Master

Industry Stats - More Than You Want To Know

2012-01-26T19:00:00.000-08:00

Business plans have all kinds of stats. Industry stats. Demographic stats. Stats are just not always easy to deal with AND lots of stats are derived from big business, not small business. The stats in this link fall pretty much into the latter category. They are pretty much based on big business reporting.

While you cannot -- and should not -- use these verbatim in your own business plan, they do give you an idea of the kind of data that your banker will look at.

The secret to using this set of stats is just to keep clicking until you find what it is you want. In all that clicking you may even discover something useful that you hadn't thought of.

So once you actually find a bunch of numbers that seem appropriate for your industry, how do you incorporate them into your business plan? Here are typical uses:

Map out the demographics of your service area.
Graphically demonstrate the growth of your own industry, or the growth of the industry that you serve.
Compare your financial summaries with those of the industry. They won't match because yours is a new, probably smaller, business, but understand why they don't match.

This is likely to be only one source that you use to locate pertinent industry stats, so don't feel discouraged if they don't work for your business plan.

Minority Retail Entreprenuers: Your Time Is Now!

2012-01-26T15:00:00.000-08:00

There is a HUGE avalanche of business underway for minority business supplying the retail industry. Retailers have finally decided that minorities comprise a goodly percentage of their business and -- lo and behold -- they don't necessarily want what other customers wants. (You know, the part that is astounding about this post is that this is news.)

Macy's is leading the way by actually holding workshops for small designers and manufacturers who can cater to specific markets. Each store in the Macy conglomerate will be marketed individually, pulling product from specialized minority vendors.
For years retailers have been establishing "shops" within large stores, and this is simply a natural progression of that sales approach.

Macy's is starting small, awarding only four orders in its first round: two makers of cosmetics targeted at African American and multi-ethnic women, a dress designer targeting Hispanic women, and a designer who specializes in plus size swimsuits. More will be awarded later.

As a designer/manufacturer of minority products, what do you do now? Well, let's assume that where Macy's goes, so goes the retail industry, which is usually true.

First, get your business plan in order, like the Clothing Store Business Plan. You may not need it, but the process of preparing it will put you in good form for talking with corporate people. In your business plan you won't be looking for financing, but for a retailer who will carry your goods. Be sure to

Provide stats on the demographic composition of that retailer's market area, and match it to your offerings, both in type of product and price point.
Include lots of pictures of your products.
Be honest about your financial situation. The retailer may or may not be able to help, but don't let them place an order and then be disappointed because you couldn't get financing.
Really promote the strength of your key people.

Then contact retailers and see what you can do.

For Macy's contact Macy's Divisional Merchandise Manager Shawn Outler. For others, start at the local level and ask them who you should contact; the store manager is usually a good starting point. Or call the corporate offices directly and ask who handles buying for the minority market.

If you keep hitting dead ends, go around them. Go into the store and locate a non-competing product from a small supplier. Call that supplier and ask who they dealt with. If that supplier is close enough, take her to lunch and you will likely get a passel of information.

Go for it. This is your time, minority entrepreneur!

Cozy Up In 2012 - Top 10 Business Ideas

2012-01-26T07:00:00.000-08:00

There's a pattern in business development that goes something like this: The rougher the skid marks, the more comfort we need. And it is true. Time and again I've seen it -- you have too. When a major economic bump hits, we flee to comfort on the recovery. We look for hand made items, for personal service, for old time values. We do it again and again. That's why these businesses will succeed more than ever in 2012:

1. PERSONAL TRAINERS. Health in all forms is Big Business right now. Add a personal touch and you are on your way.

2. BEAUTY SALONS (and all related nail salons, etc.). We've gone scruffy long enough. It is time to fix our "do" and do it.

3. SERVICES FOR THE VERY WEALTHY. Yes, they do still have lots of money to spend on chauffeurs, nannies, personal assistants, chefs, gardeners, etc. A toe in the door can take your company far.

4. ELDER CARE. Smaller homes in particular should do exceptionally well. Those who want a larger business can open several smaller homes. The population is still aging at an astonishing rate.

5. Small RESTAURANTS, CAFES, COFFEE HOUSES. Offer the unique. Let the aromas drift through your cafe. Many restaurants and cafes didn't make it through the last few years so a lot of doors are opening now.

6. INTERNET APPS that bring us back to "personal". I can send this post out to millions, and have a Tweet go to thousands. Personalizing it all is the real challenge, because that is where the sales are.

7. Shopping malls with more LOCAL BOUTIQUES. Big boxes will still be there, but the real opportunity for independent entrepreneurs is in smaller stores customized to a particular locale, with local items.

8. CALL CENTERS. Employees are there, waiting with bated breath for the centers to open. Slews of businesses need to outsource this skill, so go for it.

9. EDUCATION. More than ever before, employees need training and retraining. Our universities are bursting at the seams and EVERYTHING related to education, training and schools is booming. It is not too late to find your corner of the education market.

10. This is not a business, but the most dramatic business paradigm shift we have seen in a hundred years: HOME BASED SERVICE PEOPLE, like bookkeepers, accountants, PR people, writers, lawyers, tailors, all manner of services for businesses and for people. Hundreds of thousands of entrepreneurs have walked away from corporate life. With the ease of international communications, many of them are setting up very profitable home based businesses.

Got some more ideas? We would love to hear them.

Shhhh - Keeping Great Business Ideas Secret

2012-01-25T11:58:00.000-08:00

"How do I keep my business plan idea secret?" That's the just of an email we received recently. It is an issue common to a lot of entrepreneurs, so here are some recommendations.

NON DISCLOSURE AGREEMENTS. Forget them. No banker or venture capitalist or angel investor will sign them. If you don't trust the person you are seeing, just don't see them -- go somewhere else. The only time you will use a NDA is if you are presenting your idea to a large company in your field. In that case be as protected as you can possibly be before stepping in their door.

PATENTS AND TRADEMARKS. Not cheap, but if your idea is truly original, this is they way to go. Do it before people start talking about your product/idea -- afterwards is too late.

THE PROPRIETARY ANGLE. This is taking something ordinary, like jeans, and putting your logo on it, then selling it as "your style". You will likely change something in the common design, and for that you will want a trademark.

Those are all fine and dandy, but what if your great business idea is putting a donut shop in a town that has none? There is little in that that can, or should, be trademarked or patented. Your logo can be trademarked (if you deal in interstate commerce), and your name can be protected. But the basic idea -- a donut shop -- doesn't get much protection.

But there are still some things you CAN do, such as ...

Capture the market before anyone else has a chance. Get your start up business plan in place, be ready to move, and move fast, when the business financing is in order. Capture the market fast. You can't prevent another donut store from opening, but you can give them cause to question if they want to compete with you.

Out perform any one else. Don't just do a donut shop. Provide delivery service, customization, and customer service that none can match. This makes your business a very formidable competitor, no matter how many copy cats there are.

Remember, too, that competition isn't necessarily bad. One company alone would not have brought the world into stereophonic sound or social marketing. It takes a lot of companies to bring attention to a new idea. It is a truism that the first company has to spend gazillions of dollars to tell people about a new idea; the second company just needs to have a product a sell. So consider whether or not it might be helpful to have other companies in field to help split up those initial promotional costs.

The bottom line is that there is no way to prevent competition. The best defense is to be THE best business in the field, no matter what the field is, from potato farming to biotech development.

And be very comfortable with the people you are working with.

One Business That Boomed When Other Busted

2012-01-10T06:00:00.000-08:00

That's it: Internet Cafes! Coffee houses! Meeting spots!

Here's the logic. When the economy is down, adults go back to school to learn more so they can get better jobs.

So colleges, city colleges, universities, tech schools, etc., all get really crowded.

Most internet cafes are located near such places of learning. Ergo, more business.

At least that is what my local no-name coffee house proprietor told me. I tried to get a nice cup o' on Sunday, and every single coffee house I visited was so crowded that I couldn't get in the door. Jammed. Waiting room only. Wall to wall students of all ages.

There are other businesses doing well on this same set of circumstances. Book stores in college towns are booming. Sandwich shops are jammed. Pizza parlors are enjoying some of the best business they have EVER had -- as long as they are near a college.

If yours is a business that could reach out to the educational community, this may your time to expand. And if you've already got a business in that area, you know what I mean, and hey, how about a new location or two in college towns that are under served?

Startups should take notice too. Take a look at college towns within striking distance and see what you can see. There may well be opportunities just sitting there waiting for you.

I finally got my cup of coffee, but it was in a little shop on the edge of town, not within walking distance of anywhere.

Great Business Plan Ideas And The Harry

2012-01-09T16:35:00.000-08:00

There are a gazillion different great business plan ideas, and ways to finance them. There are even more ideas that we haven't even thought of yet. Someone will think of them. Will that be you?

And while we're on the topic, where do great business ideas and business financing notions come from? Where, in fact, does creativity come from? I read an article recently about how social stuff (Twitter, etc.) is very creative killing. It doesn't leave time for anyone to feel a gut reaction, it just whizzes by.

Great ideas need time to jell, to emerge on their own terms, in their own time. These are not mediocre ideas, but really great ideas. For example, did you know that both Harry Potter and Mickey Mouse sprung into being during a train ride?
It is true. If you've been on a train lately, you know the clippedty-clippedty-clippedty that lulls you along, almost like a mantra. Even trying to read on a train can be a challenge, with the clippedty-clippedty-clippedty constantly echoing in your brain. Hey, then when you're not even looking for it, a notion, a hint of an idea, the very germ of creation pops up, right there in front of you. If you and I were Walt Disney or JK Rowling, we would have it made : ) .

And even Oprah's whole company stops twice a day for meditation, with Oprah claiming that she has amazing energy from these meditation pauses.

Perhaps the moral is to just stop once in a while. Let great business ideas just be there.

And while I am sure that Mickey had a slew of great lessons for entrepreneurs, here are a few from Harry Potter for you to mull, just one from each book.

1) "It takes a great deal of courage to stand up to your enemies, but even more to stand up to your friends." Harry Potter & the Sorcerer's Stone

2) "Never trust anything that can think for itself if you can't see where it keeps its brain." Harry Potter & the Chamber of Secrets

3) "The consequences of our actions are so complicated, so diverse, that predicting the future is a very difficult business indeed." Harry Potter & the Prisoner of Azkaban

4) "Remember, if the time should come when you have to make a choice between what is right and what is easy." Harry Potter and the Goblet of Fire

5) "We all have good and bad inside of us. It's what side we choose to follow that defines who we really are." Harry Potter and the Order of the Phoenix

6) "...people find it far easier to forgive others for being wrong than being right." Harry Potter and The Half-Blood Prince

7) "...perhaps those who are best suited to power are those who have never sought it." Harry Potter and the Deathly Hallows

So much for business philosophy. Take a breather and let than brainstorm out!

Say HELLO! To The New Year With A Greeting Card Business Plan

2012-01-05T21:18:00.000-08:00

2012. Sounds great, doesn't it. Good, solid number. 2011 was pretty unstable balancing on those toothpicks at the end. But 2012 ... that's a different story.

A Greeting Card Business Is
A Top Candidate For a
Start At Home Business

With creativity in your soul, and a yearning to be your own boss, then 2012 just may be the year for your greeting card business, with a business plan to knock your socks off.

Many greeting card companies get their feet wet by starting at home, and in many respects it is a perfect home based business.

It can begin with one person.
The product is small-ish.
It can be an online business or a hard copy business.
It can begin locally, and literally spread around the world.
The profit potential is pretty decent.

There are lots of things that commend a greeting card business as a home based business. But that is not to say that this has to be a low income business. On the contrary.
When a business has the potential of being both an online business and a hard copy business, it has immense potential. The key to a truly successful greeting card business plan is to focus on a niche that few others have found. How about something like

Cards for Sherlock Holmes or mystery lovers;
Cards for the nerds in your life;
Christmas cards with real sprigs of holly;
A line of Grumpy Gus cards;
Cards for poodle owners.

The list just goes on and on, and you can truly do much better. None of these is a big niche by itself, but put together they are pretty impressive. Actually, there probably are hundreds of thousands of fans of Sherlock Holmes, with a ready market in bookstores that sell mysteries.

Tie down your niche and your market, and you are on your way. Take a few days to work through START UP RIGHT NOW to get your ducks in a row, then off you go, greeting the New Year and new adventure.

Dynocharge Your Kids Gym Business Plan, In Just Two Steps

2012-01-04T11:28:00.000-08:00

Your Kids Gym Business Plan -
A Dynomite Presentation

Actually, this is great advice for writing all business plans, but let's use the Kids Gym Business plan as an example.

ENERGIZE IT. No one likes to read a first sentence like "The name of my gym is Active Gym for Kids". It is just boring. Rather, try "Active Gym for Kids burst out of the energy and talent of our local athletes."

Go through your draft. Mark in yellow every single boring sentence you see. If you see a lot, start over.

PERSONALIZE IT. You see the mention of "local athletes" above? THAT is personalizing it. Even more personal would be "Active Gym for Kids burst out of the energy and talent of two very special local athletes: Kim and Terri Ngomo. ... With very little research we discovered dozens more just like them."
Using just those two techniques, your business plan can soar above all the rest.

Most business plans are really pretty boring. Small business owners are typically so glad they just got the wretched thing done that they don't bother to polish or review it. And that is a serious mistake. Bankers devote much of their day to reviewing those wretched business plans, looking for the spark that makes one business more special than the others.

So give them that spark. Let your business plan really represent you, not just some numbers in a binder. Pin down what makes YOUR business so special. If it is truly just another kids gym, oh, ho hum. Don't expect to get outside financing. But where there is the spark, there is a real chance for the glow of success.

Yes, financials need to be in order. But nearly all business plans have their financials in order. To set yours apart, go for that genuine energy and personalization.

Soooothe Your Headache With A Day Spa Business Plan

2012-01-03T11:03:00.000-08:00

Need Financing? Look to the
Day Spa Business Plan

Yes, this IS the time to start or expand your spa business, whether it is a day spa, a health retreat, a wellness center, a teen weight loss adventure, or any other health related business.

Now is the time when people are focusing more and more on health issues. The pressures of the past few years have taken their toll, and people are beginning to realize that they have to take care of themselves, no matter what the economy is doing.

Now is the time when financial issues for starting a day spa really come into focus for many entrepreneurs. Quite honestly, many day spas and health centers did not make it through the financial crunch. Many closed. That opened doors of opportunity for those who are serious about the spa and health business because the need and the desire are still there.

Need financing? Look to the Day Spa Business Plan.

The key to making your day spa or health care business plan really work is to tighten up on the finances while providing every bit of service that you can muster. Find luxury in little things like cushy robes, rather than marble flooring. Focus on making your client feel very special, rather than very rich. A single orchid can be every bit as glorious as a spray of 30 stems.

The opulence of the past is gone. Yes, Elizabeth Arden will still be there, and will prosper. But if you want your day spa to prosper, let your investors/lenders know that you know how to handle the money to wring the most service out of it.

And if yours if one of health care spas that truly survived the financial crunch, then the world is your oyster. You have already proven your skill in succeeding in adverse times, a skill that few business owners possess. That skill alone places you head and shoulders above everyone else. Shout about it. Spotlight it. Make sure your investors/lenders know what you have accomplished, and how you did it.

Whichever you are, do take the time to develop YOUR business plan, with YOUR skills, successes and talents spotlighted. It will serve you well in the financing field.

Toot Toot Tootsie, G'Bye

2011-12-30T14:04:00.000-08:00

It is a time of endings. 2011 is closing its doors, and most sigh a sigh a relief. Not a lot of us want to re-live the past year.

And it is time of beginnings, and that is a lot more exciting. Did you know that about 1.2 MILLION people quit their jobs last year to become entrepreneurs? That really is "quit", not laid off, not fired. This is probably the greatest news the economy could have.

More than anything else, those quittings mean that we as a society are losing our fear of being on our own, that we are relying on ourselves for our income, not BigCo. We are telling lousy bosses to shove it. We are hurtling off the chains of lousy dead end jobs. And that just could not be better.

What about you? Now if you really enjoy your job, and you are paid a fair wage, there is no reason to quit. But when you are far more anxious to leave than you ever were to get there in the first place, well ... maybe it is time to start planning an escape.

Yesterday we talked about all the possible businesses you might consider. Yours might be on that list, or you might have something totally original. Whatever your business, keep one BIG thought in mind: There are far more SUCCESSES in entrepreneurial businesses than any statistic would have us believe. Truly.

Do you know what statistically counts as a "failure" in business? Here are a few of them:

If you change from a sole proprietorship to a corporation, the sole proprietorship is seen as going out of business, a failure;
If you bring in a partner and form a partnership, the prior business technically no longer exists, a failure;
If you move your business from one location to another, especially to a different state or a different county, the prior business no longer exists, a failure;
If you sell your business at a good price, the ownership has changed, a failure again.

You and I know full well that each of these events could mark strong progress. But statisticians can't count "progress"; they can only count individual pieces of information. So huge numbers of businesses that actually are very successful are statistically listed as "failures".

Your odds are excellent. If other things feel right, maybe it is time to start singing that oldie but goodie, "Toot Toot Tootsie, G'Bye" to your boss, and hang up your own shingle.

We're here to help, and here to cheer you on!

Count 'em Up

2011-12-29T16:00:00.000-08:00

Finding current unbiased demographic information is tough. While the best source for locating information on local neighborhoods is still your county planning department, should you be looking at larger metropolitan areas, the Brookings Institution has an excellent free report for you. It is the MetroMontor: Tracking Economic Recession and Recovery in America's 100 Largest Metropolitan Areas.

The Institute notes up front that the stats only reflect activity through the third quarter of 2011, i.e., the end of September 2011, but that is a whole lot better than most reporting agencies can do.
While jobs as a whole are a strong indicator of improved economic climate, the report highlighted the importance of government jobs and jobs in high tech corridors.

Download the whole report or browse the site to capture the information you need. It is all at no cost. And best of all, it is unbiased, straightforward information.

THE LOCAL SCENE

Many small businesses are far more concerned about stats in their local area, perhaps a neighborhood or a town or county. There are some strong DOs and DON'Ts here.

DO talk with your county planning department. This should be your first stop. Ask about reports that are in the planning/writing stage, as well as those that have been published. Ask about projects that have been submitted, but not yet approved. Ask about gossip on new projects. Use your wiles, feminine or otherwise, to garnet all the info you can muster. It will all come in handy.

DON'T ever believe what a shopping center manager tells you. He has a very vested interest in getting you open to paying high rent, so he will sugar coat anything and everything. If you want to know the traffic count on your specific location in the mall, sit there and count it yourself. That will also give you an opportunity to see the kind of customer who walks by your door.

Each type of business needs different stats. Look to the 7 Step Business Plan ebooks to help you determine what stats will work best for your business plan presentation.

1,001 Entreprenuers Wanted!

2011-12-29T12:55:00.000-08:00

Still looking for that perfect entrepreneurial venture? Well, have we got a treat for you. I am not sure that there are 1,001 opportunities listed, but there are a lot.

First, we have discovered a neat online tool called "O*Net Online" that does list literally thousands of occupations, including the growth prospects for that occupation, its average income and lots more. We did a search for "self-employed", and wow, did we get an ear full. Just look at this list of possible self employed jobs, with everything from doctors to to dancers. Click on any one of those jobs and find out what you need to know to create your self employment, the training, the skills, the experience. It is an impressive list.

Our whole website, too, is all about self employment,
both for WAHMs ("Work At Home Moms"), SOHOs ("Small Office Home Office"), and for all manner of small businesses looking to start up and grow. Take a look at the different business plans in our business plan library to get an idea of some of the entrepreneurial ventures you might consider.

Home based businesses pose unique issues for the new entrepreneur, so we have provided several lists of very real possibilities for home based businesses. For instance, here are 50 great home based business ideas. There are more throughout the site as well.

Looks like there is really no lack of ideas.

There is, however, a definite lack of motivated entrepreneurs. I am not talking about get rick quick ventures that never make anyone rich. I mean real businesses, careers that will lead you on to new adventures for many many years to come. These don't come easily, and not usually very quickly.

YOUR HOME BASED BUSINESS will get you started in the right direction with tools to determine your future, with your skills outlined, your financing set out. There are no Get Rick Quick Gurus here. It is just you and me, planning your future success.

However you plan your New Year, we do wish you every success, and every happiness.

Ready, Set, Ready, Set, Ready, Set, whaaaa?

2011-12-28T17:00:00.000-08:00

There are two kinds of failures in the world -- the ones who prepare and prepare and prepare, and the ones who do no prep at all. Either approach is deadly. For the Success, dear Watson, lies somewhere in between.

The first kind -- those who seem to "get ready" forever -- are the hardest to spot because whatever they are doing does look important. And some of it probably is. There is just a certain amount of work that goes into any major project. In the case of starting a new business, for example, consider

What type of business you want;
How much it will cost, and why;
What your funding options are;
How to effectively market your business;
How to interview your banker, and other stuff too.

The real goal is to just not get bogged down in analyzing and not do anything.

The reason for the upfront "get ready" part is so that you can "start". So work through a solid start up handbook, like Start Up Right Now, figure out what you need, get it, and START. Get off your keester and get going.

If you are not able to jump into the new business whole heartedly (and many entrepreneurs cannot), then take it step by step. Identify what you can do RIGHT NOW. Set a time frame for completing your marketing research, your product development, for learning how to set up your website. THEN DO IT.

And don't accept any excuses from yourself. Yes, Life happens. Things get in the way. The same is true when you open your business. You can't close up shop because your lawn needs to be mowed, and you can't stop your progress now for that reason either.

The planning step is a very real part of your business. But it is just one of the steps. Make your entrepreneurial dreams come true in the New Year. You deserve it. As the mighty Wayne Gretzky says, "You lose 100% of the shots you don't take".

Newscasters and Wet Noses

2011-12-28T12:02:00.000-08:00

The Dog Day Care Business Plan eBook

Have you noticed? Nearly every news report ends with a fuzzy or furry creature lovingly gazing into the camera. This didn't used to be. I suspect that the financial trauma of the past few years has brought us back to a homey seeking society. And I for one like that.

There are also more pets than there used to be. Since many couples are deferring having children, it seems that pets are taking their place. And that spells o-p-p-o-r-t-u-n-i-t-y for watchful entrepreneurs.

More pets means all kinds of pet care are needed. Dog walkers are in demand in more affluent areas where both adults work. Full day care for dogs is also on the rise, as as doggie hotels in all kinds of locations. Some people prefer to leave their pets at home, and need a care center near home. Others travel with pets and welcome doggie hotels near where they are staying.

Developing the marketing for doggie day care and doggie hotels is relatively easy.

First, determine how many pets are in any given area. Simply doing a census of the local doggie park will get you close to a number. The local pet shop can tell you how much dog food, etc., are sold as well.

Or find a location near a business center so that pet owners can drop off their pets on the way to work.

Or talk with nice hotels in the area, and see if they have a demand for "pet rooms", and if so, would they be willing to promote your business.

This really is an opportunity in the making. Even as the economy picks up, people are not going to get rid of their pets. On the contrary, they will want even better care for them.

So what's in your area? Take a look. And if you need financing, go for the Dog Day Care Business Plan. It will walk you through the steps to get the financing you need to start up, or expand.

Just One Itsy Bitsy Resolution? Pleeeeeease

2011-12-27T12:40:00.000-08:00

This isn't for the Dave Letterman top ten, nor necessarily for you. This is MY resolution, and mine alone. I hereby resolve to take one day a week off from work. Totally. No notes. No computer. Certainly no business plan writing.

This is the one thing that I do believe will add most to the quality of my life. And ultimately, it is a quality of life that we are all after. Income, yes. But even more we want quality of life. This is why so many thousands of entrepreneurs have shifted to home businesses. You just cannot believe the difference it makes in Life until you try it. How about
calling up a buddy you haven't talked with in a long time? Sure, it is ok at work, but at home you can talk an hour or more, and make up the work time later if you want to. How about doing the laundry while you work, or picking up kids after band practice at school.

Life is more than business. That is a truism that far too few corporations embrace. Life is real people, doing real things. In our world of single parent homes and double incomes, keeping it real becomes the challenge.

And I for one spend entirely too much time on business. Since my computer, my phone, my work is always there, right there with me, it is easy to turn work into a 24/7 proposition. I hereby resolve to deliberately turn it off one day a week and simply enjoy the people and the beauty around me.

I do hope you do the same. But whatever you do, do find a way to make Life more "yours".

Sooooothe Your Tattered Soul With A Relaxing Day Spa Business Plan

2011-12-27T12:36:00.000-08:00

The 7 Step Day Spa Business Plan

Have you felt it? When you walk into a banker's office everything tightens up -- your shoulders, your neck, your back. Heck, you might even be clenching your teeth.

Unless you take your masseur with you, we need a better approach. How about walking in with confidence, knowing you've got a great day spa business plan in hand? Honest, it is a whole lot easier to get all that pressure out of the way before you ever step into the bank. And it is not that hard.

Sure, it will take some sweating, and some agonizing. You will need to find prior financials, identify your real strengths (and weaknesses), present your business so that a stranger gets enthused, and handle all of the financial issues as well. And in the end you will have a business plan that works.

Most business plans don't work. Most businesses don't get the funding they need. While they can blame the lousy economy and stingy bankers, in truth they probably just didn't make the effort to create a winning business plan.

Creating a day spa business plan in a relatively painless process means starting long before you really need it. It means planning ahead, looking for all the information ahead of time, identifying the best sources of information, filling in missing pieces, getting photos, creating initial drafts, brainstorming with your staff. It is no surprise that you are looking for financing, so plan for it. Then create the final plan with a real sense of style.

It is rare for a bank to receive a business plan with that kind of care taken to present the business well, and it will place you many heads and shoulders above everyone else. So you really can walk in with the confidence of knowing you've got it rock solid right. And that counts for a lot.

Tapping Toes and Tippie Toes - All In One Dance Studio Business Plan

2011-12-10T16:00:00.000-08:00

I thought ballet had nearly disappeared from existence. And then Stephen Colbert had a duo from the American Ballet Theater (an excellent troupe, by the way) on his show. And tonight I saw an ad for a ballet school, way out in the middle of nearly nowhere. So there is hope.

And there are also tango sessions, and hip hop hullabalos, and jive, and folk dances from around the world. I guess as long as people can move, they will dance. And that is so good.

And if your dance studio is in need of a dance studio business plan, especially for financing, well we got you covered (even out in the middle of nearly nowhere). It is surprising how much a good dance studio costs to set up, and why, so don't assume that your banker just "knows" why you need the financing.

A dance studio business presentation needs to be surprisingly specific. The term "build out" won't do. You need $XXXX to install a dancer's floor, one with natural bounce, to protect the health of your students. You need wall to wall mirrors to help students learn better. Whatever it is that you specifically need for your specific type of dance studio, do set it out.

So, what's stopping you? Go create a slew of dance studios! The world needs you!

Sweep It, Swab It, Clean It Up!

2011-12-10T08:00:00.000-08:00

Any cleaning service business plan pretty much gets a "ho hum" from a banker. Let's face it. It is not a romantic job.

But it can indeed be quite lucrative. And bankers like money. Bankers really like money.

Use that affinity for money to your advantage in crafting a cleaning service business plan. And add a bit of a light touch if possible. For example, for headers try ...

"Cleaning Up The Accounts"
"Turning Mops Into Profit"
"A Three Year, 300% Sweeping Profit Curve"

Just a touch here and there will work absolute wonders.

You just cannot believe how many hundreds -- yea, thousands -- of business plans I have received that are 2-10 inches thick, printed solid in black and white, tiny tiny print. And not a touch of humanity anywhere in sight.

The business plan represents your business. It represents you. If you are a dour soul with not a smile to your name, fine, go ahead and create a dreary business plan. But, for goodness sakes, if you have an ounce of smile in you, use it. Reading business plans is pretty much boring. After a while they all begin to sound the same. Take your ho hum business plan, add a touch of color, a smidgen of a smile, and voila! the banker may actually enjoy reading it. With that, you are halfway there.

It Is A Good Thing That Beauty Is In The Eye Of The Beholder

2011-12-09T18:00:00.000-08:00

And behold! I am certainly a whole more beautiful than my mirror would attest to.

A great beauty salon does the impossible: It makes the so-so person feel really great. Business plans can't do that, even our 7 Step Beauty Salon Business Plan. All we can do is help out with words. And numbers. And presentation. But the important stuff -- like making someone feel beautiful -- no, we can't do that.

Maybe it is the undivided attention that we get for a while. Maybe it is the smile that greets us. Maybe it is the improvement over what we looked like before.

I know it is NOT how much we are paying. I have paid a small fortune for a "styling" and not been as happy as I am with my current jiffy cutter. No, there is something else going on.

This "feel good" aspect of beauty salons really works in its favor when going for financing. Yes, the numbers have to be there, and the clients have to be there, and the location needs to be right. But the feeling that beauty salon owners bring to their businesses just can't be faked. They are service people of the highest calibre, and it shows in their business plans as well as in their daily business.

Those salon owners who take the time to make a strong presentation for their bank are showing the same respect to their banker that they show to their clients every single day. And the banker knows that too. They don't just throw a few pages together. No, they make the time and effort to impress a banker, just as they want to impress a client.

And it shows.

Service With Honor, and A Smile -- No Small Accomplishment

2011-12-09T14:44:00.001-08:00

Tomorrow is the International Day of Human Rights. I paused today and read the U.N. Declaration of Human Rights. I am proud to say that I will be among the Occupiers tomorrow who read the Declaration aloud for all to hear. It is an important document, and needs to be heard.

I also paused to wonder, "What is our obligation to serve, as well as receive?" Yes, I remember well President Kennedy's call to "Ask not what your country can do for you. Ask what you can do for your country."

One would think it easy to lose track of these sentiments in daily chores, whether in the board room or the janitor's closet. In fact, we actively participate in these sentiments every single day because we can ALL choose to be service businesses, no matter what we do.

I have no sympathy for the "little people" on Wall Street. They are not just doing their job. They chose those jobs, and there are few of them who didn't have strong suspicions that the companies they worked for were rotten. But they stayed on anyhow. If they got hurt, tough.

What I am seeing is that thousands of former employees in all kinds of service businesses are opting to run their own businesses. Our Service Business Business Plan is one of our most popular, and for good reason. People don't want to work for slime. They want to determine their own company policies. They want a business with dignity, one that respects human worth.

This sentiment hold true in virtually all businesses that we work with, whether it is catering or internet development. The theme that holds new entrepreneurs together is "integrity". We have ALL become service businesses, asking what we can do for our fellow human beings, and for our country.

p.s. -- It is a real bonus too that independent business people often earn more than "employees" of large corporations, but that's another post, another time.

Sip A Little, Munch A Little - A Vintage Wine Bar!

2011-12-08T20:00:00.000-08:00

There isn't a wine bar business plan in existence (even ours) that will actually tell you how to make a wine bar successful. We can only tell you what you already know:

Location
Location
Location

It also helps to have a nose matching that of your guests. And a solid marketing plan. And a good vintner or two in your pocket doesn't hurt either. About that vintner ...

The spirits industry is a special industry, especially the wine niche. Specializing in a few outstanding, probably lesser know wines, will put you in good standing with that brand, and as you well know, that can get you all kinds of extra goodies.

There are so many incredible wine bar options.

Wine bars are one of the huge hidden secrets of independent single people. Ladies may not want to frequent bars, but hey! wine bars aren't "bars". They are "wine bars", and that is totally different. Married folks seem to have favorite wine bars, but few actually go to them. Singles do go, and do buy bottles of wine and munchies. I don't know if that demographic holds true for the whole country, but it certainly was true in our survey in wine bars in California.

A wine bar actually located at the vineyard itself is a whole different keg of grapes. The dinners are splendid. The entertainment is romantic. Sitting out under the stars just couldn't be lovelier.

There are several vineyards we know that have honeymoon cabins or romantic getaway inns associated with them.

These are all truly lovely options for a wine bar, and we do try to visit as many of these as possible.

The moral of the little story is that you need to focus on the group you want to focus on and show how you will reach them. Some places are just better for sharp, sassy singles, and other places suit the romantic couple theme better. Don't assume your banker knows what you are going to do. Tell him, with words and pictures, just how lovely your wine bar will be.

C'Mon, Buddy - Get That Sports Bar Financing In Shape

2011-12-08T15:30:00.000-08:00

OK, so I am not a big sports bar fan. I am not even a sports fan. Too much brutality for my taste. But lots of people do enjoy guzzling beer and shouting at a TV screen. And that's where your Sport Bar Business Plan comes into play.

The good news is that your lender is likely a man. Even if "he" is a "she", she will no doubt grasp the concept of a screaming hoard of men. (Sorry.) More to the point, male or female, the banker knows the reality of the cash that flows through a sports bar. And there's your hook.

Money speaks volumes where pictures and words just don't. The fact that your sports bar will have 15 screens probably isn't as important as the fact that you take in $XXXX per night, with lots more income on really good sporting events. Not all businesses have that kind of cash flow. In fact, few do.

So your game plan is pretty straight forward. Demonstrate:

A strong track record of income
A strong track record of your management skills
And show how the loan will be repaid, easily

And if your business plan is missing any of of those three critical elements, truthfully you will have a tough time. You can mess up on the decor. But you can't mess up on those elements critical to your income stream, things like marketing skill, industry experience, knowledge of alcohol beverage licensing in your state, available parking, and sight lines to those monster screens.

Focus on the critical elements, and emphasize your prior success, and your sports bar business plan will soar through review!

Give Your Coffee House A Jolt Of Caffein

2011-12-07T22:59:00.000-08:00

An internet cafe business plan used to be a Big Deal. The local internet cafe put out big signs, promoted its services in the yellow pages and on its menu and in every single ad. These spots were truly a Big Deal near colleges and business districts since those folks might even have lap tops that could take advantage of the connection.

No more. It is not that internet cafes have gone away. Just the opposite: There are hot spots everywhere. Being an "internet cafe" is pretty much a given for all coffee houses now.

So when you write a business plan for an "internet cafe", odds are that you are really looking at something just a bit different.

You might be looking at

A coffee house near a university
A coffee cafe in a business district
A coffee stop adjacent to a bus stop or train depot

... or anywhere that people gather. And, rather than being just another ho hum coffee shop, take advantage of your location choice to make it a unique presentation. There was, for example, one coffee shop owned and operated by deaf people (and very successfully so, might I add). There was another that took on Verdi's style since it was next to the opera house. The train station coffee house went turn-of-the-century (the 19th century). Another shop used only organic and fair traded coffees and teas. Whatever your niche is, spotlight it, use it, promote it.

And then demonstrate that there really is enough traffic to keep your pots brewing, and that is no small accomplishment. Starbucks began with one location. You will begin with one location. Just how far you go depends on your own goals. Whatever your plans are, we would love to sit down and sip a cup o' .

Mama Mia, What A Pizza!

2011-12-07T11:26:00.000-08:00

Sure, you've got the greatest pizza in the world. Hey, I've tried it, and I know. As far as your pizza parlor business plan? Well, that could use a little work.

You see, everybody thinks they have the greatest pizza in the world. And they do. And therein lies the problem. The issue for raising financing for your pizza house is not HAVING the best pizza in the world, but SELLING it.

Marketing is a seriously underrated skill in most restaurants, but none more so than pizza. Your lender will certainly assume that you know how to make pizza. S/he will NOT assume that you know to market it. That is where your business plan must shine. Here is where your true creativity as a restauranteur will come into play.

Start out with the basic stats of who will be living and/or working near your pizza parlor. That is a given. The base has to be there.

Then do something extra. Really set out your marketing plan. Where will you advertise? How will you advertise? What will those ads sound like? or look like? Who is the "buyer" (not necessarily the kids) and how will you reach that buyer? And, most importantly, how can you do it better than any of your competitors?

With that kind of info in your pizza parlor business plan, you've got a winner. The great pizza is just a bonus.

The Catering Business: Service On The Run

2011-12-06T17:10:00.000-08:00

Personally I have never understood how they could do it. Talking on the phone while whipping up a creme brulee for one of today's festivities (only one of four such festivities). Scheduling workers -- and delivery trucks. Checking uniforms. Coordinating with the decorators. Taking upteen calls from clients. Pricing parties for ten and for a thousand. Scheduling kitchen facilities to accommodate all the different dishes.

Catering has got to be one of the toughest businesses going. Fortunately for us, thousands of exquisite chefs step up to the plate every year, bringing us everything from hot dog parties at the beach to New Year's galas. Whether yours is a home catering business, or an established catering business looking for funding, our collective hats go off to you!

What's that? You need some financing? Well, here's the scoop.

As a start up, it will be tough getting outside financing, and that is true for virtually all industries. The real key to getting funding is simple: Success. With a track record of success, all kinds of doors open. Without it, look for those doors to slam in your face.

So how is that success measured? Real profit is certainly one way. The fact that you know how to bid projects and take them to a profitable conclusion is a strong endorsement for your business. Longevity is the other way. Doing one or two projects profitably won't make you a seasoned pro. Get a year or two under your belt, then go for outside financing.

It can be a very long year or two until you qualify for financing, and getting that financing doesn't ensure continued success. It is still your creativity, ingenuity and business sense that will lead your company forward, no matter how much outside financing you can muster.

So pat yourself on the back. You've come a long way, and you will go further.

Frost Your Buns With A Little Green Stuff

2011-12-06T17:00:00.000-08:00

'T is rather a truism in any kind of sales that you need to establish a commonality between you and the other personal to make a good sale. There is a great deal of truth in that statement. And if you are writing your bakery business plan, it is certainly true.

But you are in luck. You already have that commonality, without doing a silly thing. Baked goods of all kinds fall into that "comfort food" category, whether you are baking breads or muffins or wedding cakes. (OK, the wedding cakes may be mixed emotions, but mostly the feelings will be positive.) So what you do you to really entice a lender?

First, just demonstrating your professionalism is a huge step in your direction. Most creative people don't know the first things about running a business or looking for financing. The fact that you are reading up on it, and intend to make as professional as possible, means that you've got a grasp on the business side of business that most bakers don't have.

And do show off your creative side. Taking a whole cake to the bank might be challenging, but a cupcake? Indeed, do so. A small loaf of bread? Yes! If the reception is good, take something different each time. With hard working financial types, this type of "home cooking" will make you a welcome visitor.

Also include photos of your work, especially if you create fancy stuff, and photos of your bakery too. Use your logo to brighten up your business plan.

Yours is among the very fortunate business plans. You have a lot to work with before you ever start, so do take advantage of it.

Sip A Little, Talk A Little, Put A Little In Your Plan

2011-12-06T10:09:00.000-08:00

The stumbling block for many cafe business plans is simply that: A "little". It is a little business. It only needs a little bit of financing to start. And it will only make a little money.

Bankers aren't fond of "little". While they don't demand the go-go growth that venture capitalists do demand, bankers need to see more than "little". Few bankers will look at businesses needing less than $100,000 no matter what category they are in. AND they need a very strong income stream to pay back the loan.

So what if your cafe really is "little"?

Accept the fact that you will likely be self-funded to start. That's not entirely bad. While your finances may be challenged, your creativity will shoot into high gear. Local artists may decorate your walls with their works, rather than the custom mural that you really wanted. Your menu may be more selective than you originally planned. Your hours may be shorter than you had hoped.

But that is OK. It is all OK. What you need more than anything else is the opportunity to demonstrate in real time how successful your little cafe can be. And once you have proved that, you are but a stepping stone away from real growth. Expand your little cafe. Open another little cafe in a different part of town. Set up a chain of little cafes. This is where your cafe will need financing, and this is where a formal cafe business plan will help you the most. So grab your copy and get writing!

Say NO To Financing For Your Own Good

2011-12-06T10:00:00.000-08:00

There are three bills flitting through Congress relating to allowing small businesses to raise up to $1 million without doing any registration. This sounds harmless enough, but there are very serious issues with it.

First, any business financing strategy must be based on a solid business model. Whether the model is new or old, it must demonstrate the capacity for earning income before unsophisticated outside investors get involved. That is a serious consideration. "Sophisticated investors", those wealthy individuals accustomed to risking hundreds of thousands of dollars, are on their own. But ordinary people simply deserve to have better safeguards.

That is why the restrictions on investors were created in the first place.

And secondly, and most importantly, the entrepreneur must have proved himself before looking for outside financing. Sophisticated investors demand it. So should those investors with less money to invest.

The problem arises when trying to do due diligence on a new entrepreneur or a new idea. Angel investors and venture capital firms are well equipped to do intensive background checks and vet anyone who asks for money. They can spend $10,000 to find out if the person in front of them is telling the truth. Small independent investors just don't have that capability. Even if they had the $10,000 to invest on such research, they just don't know where to go to get it.

Without the background information and a solid business model, small investors are leaving themselves wide open to all kinds of fraud. It is not a situation I want to be in, or would I want my friends to be in it. It is a "lose-lose-lose" on all fronts.

Then, as a businessperson, there is strong sentiment floating about that subsequent rounds of financing would be very difficult to tie down because of all the minor investors already involved.

The whole thing just doesn't compute. I know that finding financing isn't easy. It is tough. It is very tough. But once you've done it, you have proven yourself as an entrepreneur, not as a promoter. Go the "entrepreneur" route -- you will get a lot further than "promoters".

Why Do Restaurants Spell "F-A-I-L-U-R-E"?

2011-12-05T14:22:00.000-08:00

And it is not just beginning chefs who find the restaurant business challenging. We've seen many top names bite the dust in utter defeat. You have too. It is rather axiomatic that restaurants are hard to start. And there are lots of reasons given, such as:

Restaurant owners don't know business
Poor location
Cuisine that doesn't match the location
Start up costs are out of line

And all of these, or none, may apply to your business. Restaurant business plans aside, there is something else going on here. What, for instance, is a "failure"? According to most sources that count business success, there are several factors that might put a business into the failure column. A few of these are:

Change in ownership. If your restaurant sells out to another firm or entrepreneur, your business will be counted a "failure". If you take on a partner, your business will be counted a failure.
Change in address. If you move to a larger location, your business is counted as a failure.
Change in corporate structure. If you incorporate your business, you business is counted as a failure.

While these things are true in all businesses, the rapidly evolving nature of restaurants means that things like ownership changes are just more likely to occur. A restaurant that expands from serving just dinners to also serving lunch, and maybe breakfast, may indeed want to take on a new partner to share the management responsibilities. A restaurant that starts as a small home catering business may move to larger facilities, and incorporate.

These kinds of rapid changes just happen with greater frequency in the restaurant business. Few manufacturing or retail businesses experience this type of dynamic change.

Sure there are failures. There are in every business. But don't let the failure rate in restaurants discourage you. Just go in better prepared and you will do just fine.

The Elusive Line Of Credit Business Loans

2011-10-13T15:03:00.000-07:00

Line of credit business loans used to be a basic part of 99% of the businesses in operation. It used to be that these loans were relatively easy to get, and were a real boon to business. Nearly every business has its ups and downs throughout the annual cycle, and the line of credit was there to help out.

No more. Now a line of credit is just as hard to capture as a standard loan, if not harder.
The banks claim that they are being held to higher standards for granting loans of any kind, but I find that very hard to believe. Banks don't seem to have any trouble lending to big companies, to the favored few. And they even get brownie points for lending to exporters, so those companies fare pretty well.

But standard small businesses of all ilk are still having a really tough time.

The first round of stimulus spending was intended to go to local banks which could then re-lend it to local businesses, and the hiring engine was to have kicked into gear. Well, it didn't work like that. The money did make it to regional banks, and a bit of it made it to local banks, but it stopped there. Very, very few local businesses benefited from the stimulus funding.

These were not GRANTS that businesses were looking for. They were LOANS. Even companies with exceptional credit histories couldn't get these loans.

Instead of earning money by lending what was in their coffers, banks held onto the stimulus money and are now increasing their fees at all levels. The banking industry has once again betrayed small business and the American people. And they wonder why the rage from Wall Street protestors?

The one bright spot is local credit unions, and small local banks. When Big Bank turns you down, which they will, step across the street and take your business to other entities.

Training For Your Own Home Business

2011-10-11T14:41:00.000-07:00

Do you remember when you first became an entrepreneur? I do. Ohmy, how I fumbled and stumbled. I had a super product, a snazzy series of needlework kits for the modern woman. I had gotten them printed and packaged, tracked down the fabrics and the yarns and needles, and had beautiful full color inserts to show each design. They were gorgeous.

Then I got stumped.
Not only did I not know how to market them, but I didn't even know who to ask. Yeah, I was pretty young then. I went to one of these nice little community courses on starting a business, and all I learned was that I needed to file tax forms. Taxes were not my problem -- I didn't have any income to tax. Selling the kits was my problem.

Well, this particular venture was not hugely successful. I finally discovered that I would have had to join a national organization and attend their conferences with a display booth before I would be taken seriously. Financially that wasn't an option. So I sold the business, kit and kaboodle.

This is why so many successful entrepreneurs have parents who were also successful entrepreneurs. There is just stuff you need to know.

Well, now we've got the internet as the biggest thing to hit small business since Johnny Appleseed. And I would wager that neither your parents nor mine can help us be successful in this venture. More likely, we will be helping them.

But the base issue remains: How to sell my stuff on the internet?

Most "online" courses talk about SEO and html and maybe even stores. But that isn't selling. That is just putting goodies on the shelf in the hopes that it will sell. No, the whole marketing process for online goodies is more complex than that.

Again, I made my blunders. I put up a gorgeous site. I even had keywords that I optimized. And in over four years I sold something like two items. Total. Maybe $50 in income. I still didn't need to learn about taxes.

One of my goals at BusinessPlanMaster was to set up a book, or a series of books, that would help newbies leap over those mistakes that I made. Training for a small home business just shouldn't be that hard, and it isn't. Taken step by step it even makes a lot of sense First, inventory your skills, and find the holes, then fill in the gaps. Easy peasy? Almost. I sure wish I had run across the Start Up Right Now series when I was first starting out.

Angel Investing By And For Women

2011-10-08T21:54:00.000-07:00

Pipeline Investing was founded just a year ago with a strong purpose: to find women who would normally invest money philanthropically and train them to invest in women led for-profit social ventures. (Note: The website is still under construction, so if the link doesn't work, do a search for "Pipeline Investment Fund" or "Pipeline Fellowship".)

Now, with $50,000 in its coffers, it is beginning to hear pitches from women owned businesses.

Natalia Oberti Noguera is the Founder and CEO of this new Angel investment group. She comes with strong credentials, and equally strong contacts. Each woman who commits to "angel boot camp" also commits to investing $5,000 in the investment pool. Ten women are now part of that group.

“It’s very hard for for-profit social ventures to get funding,” says Oberti Noguera, who also founded the New York City chapter of Young Women Social Entrepreneurs. “Traditional investors hear the words ‘social and environmental responsibility’ and get scared. Traditional philanthropists hear the word ‘for-profit’ and get scared.”

The first pitch summit has already been held, with plans for others in Los Angeles and San Francisco later this year. There is bound to be a lot of competition to earn a spot in the presentation lineup, but should your company qualify to present, it will be a huge feather in your cap! You will of course be expected to have a business plan and a formal presentation ready, so start getting ready now.

Best Internet Business To Start

2011-10-07T16:46:00.000-07:00

There are many things I have trouble with, but finding great internet businesses to start is not one of them. There are thousands -- yeah, millions -- of great ideas floating out there. In fact, I would wager that there are as many great internet businesses as there are great brick and mortar businesses, if not more.

We really are fortunate. A generation ago these options just weren't here. But they are here. Now. And we are at the point in time that can best take advantage of them.

So what's the best internet business to start? Well, here are a few notions:

USE YOUR HOBBIES. Model trains. Bird houses. Broadway posters. Matchbooks. You name it. If people collect it, it can make a great business on the internet. There is value in collecting. Whether you sell your own collection, or someone else's, or simply provide an information site about your hobby, there is a way to make a profit.

USE YOUR BUSINESS SKILLS. There are more small businesses now than ever before. These businesses need bookkeeping, marketing, websites, business advisers, and lots more. Draw on your expertise from your formal career and turn it into a web business. What are you good at? Selling wood furniture? There's a market. Training customer service staff? There's a market. If you know it, odds are there is an internet business in your future.

USE YOUR TRAVELS. Many sites feature travel related information for particular areas. Whether you live there, or have just visited, if you know enough to write about it (and have some great photos too), then you've got a super website sitting in front of you.

HOW ABOUT PETS? Poodles, Arabian horses, Siamese cats -- all makes great websites.

It is hard to list every possibility. Do a search on the web. Search for anything. You will discover websites on that topic. Guaranteed.

So, if there are already websites on your preferred topic, should you do another site? Is that really the best internet business to start? Actually, you are probably ok. When you go into a bookstore, how many books on "dessert cooking" do you find? How many on "bicycle repair"? If only one book was needed, that is all that would be written. But there is always a new angle, a new way of writing, that will give your website the edge.

Yes, there is a lot more to choosing the best internet business to start besides finding something that interest you. But that is the starting point. Without that interest, odds are that you won't make it. It will fail. But with interest, the world opens up.

Need more ideas? Here are a a few successful webpreneurs, each with a different type of business. Let your imagination run wild. Jot down every idea that comes to mind. Later on you can narrow it down. But for now, just imagine what the world could be if you could do a website about your Model T.

Women Entrepreneurs Forge Their Own Paths

2011-10-06T10:32:00.000-07:00

The venerable Wall Street Journal is obviously run by testosterone. That is the only excuse for its repeated articles on why women are "losing" in the small business world. Their most recent article touts the same dull message. This time they are bemoaning the fact that women's businesses don't create as many jobs as men's businesses, nor do they typically reach the same big size.

Oh posh.

If men want to prove they are successful by having big businesses, let them. Women don't need to prove anything. It is women who forged the path to home businesses, the most sensible and creative use of talent in business that I can think of. Millions more serve clients with boutiques and service businesses of all kinds.

These are the entrepreneurs who juggle three kids, ballet lessons, Little League, parent-teacher conferences, supervising children's online activities, all the "home maker" stuff like putting nutritious meals on the table, and still find time to contribute to the community AND run a business. You know, the rate at which women get ulcers doesn't match that of men's until women enter the formal work force. mmmmm. That says a lot about our society.

If there is a single thing that women entrepreneurs contribute to the business world, it is the message that we all need to trust in our own skills. They do it every single time they opt for a home based business. How many men have that kind of strength and creativity?

101 Best Home Businesses To Start

2011-10-05T16:41:00.000-07:00

Uncle, I cried. I had been asked so many times about the best home business to start that I actually developed a list of my favorite 101 home businesses. You will find it in Your Home Based Business.

It's not difficult listing 101 great home businesses -- there are literally thousands of options. The hard part is choosing "best". What does "best" really mean? The most profitable? the most enjoyable? the easiest to start? the one with the greatest potential for expansion?

Saying that the Best Home Business is the one that meets your particular set of "needs" and "wants" is really not evading the issue. It is being very honest. Assessing what you want a business to accomplish in your life is a critical step in entrepreneurship of any kind, and one that is often overlooked.

Suppose Joe wants The Most Profitable Business. Fine. But Joe also wants free time to go mountain climbing. So Joe is not going to get The Most Profitable Business. He will have to go after a profitable business that will leave him time for mountain climbing, and something that won't demand his presence every day, since he won't be there. Those exceptions add up in a hurry.

Mary may need money NOW, and Alicia may be able to wait a couple of years for income. The necessity for money is a strong determining factor in which business idea to pursue. Baby sitting will certainly get Mary money NOW, but it won't have the long term potential of Alicia's online business.

I think sometimes we ask too much of our home businesses. A home based business is a business. It is not a miracle maker. It won't likely bring riches. It won't likely bring fame. If we are lucky it will allow us to live a decent life with a decent income, and that ain't nothing to sneeze at these days.

The Bed and Breakfast Business Plan

2011-10-04T16:30:00.000-07:00

I just love them. I know you do too. What's not to love? Sumptuous surroundings with hosts to meet your every wish, expressed or not. A perfect romantic hideaway amid forest greenery and running brooks, or maybe at the ocean's side with spectacular sunsets/sun rises.

But ohmyheavens are they ever work. Up at dawn, fix breakfast, send guests on their way, change linens, greet new guests, prepare evening munchies, and in between times handle all the marketing and miscellaneous stuff. And do it all with a smile. I truly admire a well run B&B.

The bed and breakfast business plan is no sweetheart either, for as much as we love them, they are not necessarily profitable. All the luxury and personal attention come at a cost. This is no Motel 5. That extra cost simply means that a lot of guests cannot afford it, or can no longer afford it.

The easiest B&Bs to finance are those with the property paid off, and those with other profitable B&Bs in the neighborhood. Paying off a mortgage and establishing a new market at the same time can be daunting.

I will continue to do my part in supporting my favorite mode of relaxation, and I do hope you do too. They deserve no less from us, their humble guests.

A Brutally Honest Venture Capitalist

2011-10-01T13:00:00.000-07:00

I didn't think I would see "honest" and "venture capitalist" in the same sentence. Not only are VCs extraordinarily wealthy, but they are also masters at avoiding confrontation, like they don't ever want to be quoted as saying they didn't like a particular project. With all the power they've got, that has always puzzled me.

Seems there is at least one exception to this stereotype: Vinod Khosla, the immensely successful VC who really takes the time to give an honest response. See the story in this interview.

For decades we have told entrepreneurs that NO is NO, no matter how it is phrased. "We are focusing on other areas right now" may be a bunch of baloney, but it is still NO. That Mr. Khosla actually takes the time to say, "This is what is really wrong" may bruise your ego, but it will likely ensure that you won't keep making the same mistake over and over. He has gained our undying respect.

Venture capital business plans and presentations demand a whole lot more than other types of business plans. Logical, since they are asking for a whole lot more. Thousands of entrepreneurs waste slews of time pursuing venture capital, when they really don't qualify for it at all. So we have another piece of advice too: If your business plan has been refused several times, especially from VCs who should be interested, pull it back in and find out what the problem is. Don't ever assume that VCs don't have the money -- they do. If there is a problem, it is with your business or your presentation, not theirs.

Alternative Business Financing For Online Merchants

2011-09-30T11:49:00.000-07:00

Do you have an online business that sells via eBay, Amazon, Yahoo (or several other online platforms)? Do you have a history of sales, for at least a year? And could you use $500 to $40,000 -- NOW?

You could be a candidate for Kabbage.

Kabbage provide advances to small entrepreneurs based on their social activity online. And, best yet, they really have money in their coffers. In January 2011 they goat a $6.6 million infusion of cash, and now they have secured Series B financing in the amount of $17 million. The financing comes from major investment houses like Mohr Davidow Ventures. This is no slouch of a company.

Your company will be judged on its sales, yes. But also on its customer engagement, like FaceBook Likes, and Twitter retweets, and more.

These are not technically loans. They are advances for up to six months, at interest rates ranging from 10 to 18 percent.

You won't need a business plan for this option. Just go online and fill out their app. They do all the background checking and can even get back to you in minutes if they can readily get the info they need.

A most unusual option for alternative financing for small business.

For Mid Range Companies -- And They Better Be Weird

2011-09-29T11:23:00.000-07:00

There is an angel investment/ venture capital firm in Seattle that takes great pride in having candidates apply for funding in their underwear, and that seems to have a real preference for profanity. If it weren't actually granting loans to businesses we would ditch it entirely. But it is. So here it is.

Lighter Capital grants loans to companies that no one else will touch, like a bouncy house rental service or electronic records for psychiatrists. They invest $100,000 to $500,000 and are looking for companies with a healthy bottom line that need money to grow.

About half their investments so far have been in the technical fields, with a good representation in retail and manufacturing.

They also rely heavily on Twitter and other social media to evaluate the strength of a business. How? I dunno. Or more importantly, Why? I dunno that either.

The founder of Lighter Capital, Andy Sack, is on a mission to disrupt traditional investment markets, and in that we applaud him. Traditional investment markets have needed a shakeup for quite some time, with a much stronger emphasis on helping those companies that really can make a difference in our economy and in our lives.

So write up your business plan (not too traditionally, please), get your ducks in a row, and head on over to Lighter Capital to see what you can see.

New Microloans in Philly

2011-09-29T09:04:00.000-07:00

It is always great news when new microloans are announced. This one -- actually to two groups -- is is Philadelphia, PA., and comes from Citibank.

The microlending program will use a peer-based banking arrangement in which small groups of individual entrepreneurs will work together to decide lending limits among themselves and monitor repayment of the loans, Haskin said.

One of the nonprofits, Finanta, is based in the eastern part of North Philadelphia and has a large clientele in the Hispanic community, said Donald L. Haskin, senior vice president at Citi Community Development.
The other non-profit, Entrepreneur Works, is based in Center City and has a large clientele in the African-American and African-Caribbean communities, he said.
These are both seriously under served communities, and this $125,000 grant will be well received.
Thank you, Citibank!
Is there a microloan option in your area?

Really Alternative Funding For Small Business -- And They Are Business GRANTS!

2011-09-28T15:35:00.000-07:00

Do you have sort of a quirky company? Are you a minority? Would $10,000 business grant get you up and running profitably? If you said Yes, head on over to 100 Urban Entrepreneurs and take a look around.

Minority entrepreneurs got a real jolt in their suspenders when 100 Urban Entrepreneurs took off.
Three brilliant and very generous entrepreneurs decided to start a company that would really help minority businesses. Lucas Riggins, a guy from a really rough area, and Magnus Greaves, "the entrepreneur who made things happen" got it going. They pulled in Dan Carriere, a serial entrepreneur who had just sold his business for $700 million. The trio set out to fund 100 minority businesses that would never have gotten funding any other way.

Few MBAs ever apply. But each of the selected entrepreneurs has a clear vision, and some life experience that qualifies them to run the business. According to their website:

We’re looking for young people with strong ideas, a great work ethic and an unwavering desire to succeed. 100 Urban Entrepreneurs is not Silicon Valley–style venture capital; gold-plated educational and professional qualifications are not prerequisites for involvement. Our focus is on minorities and those from underserved and disadvantaged communities, and we’ll look at anyone’s business plan. Need help writing a business plan? We’ve got a template for that as well.

The founders take the show on the road from time to time, with presentations in Atlanta, New York, New Orleans, and many other cities.

Along with funding, the winners get a crash course in business start up and on going support for marketing and promotion. Nearly all the entrepreneurs say that they value the mentoring even more than the money.

Not all of the sponsored businesses are strange. There's an organic clothing designer, bakeries, websites, Groupon for black businesses, shoe designers, and lots more. And you read right: the funded companies never pay back the $10,000 award. 100 Urban Entrepreneurs simply asks that they create a blog or provide information on their success so that others can learn too. Wow! Talk about paying it forward.

100 Urban Entrepreneurs is an idea long overdue, and we salute the founders, and all the great start up companies involved with them.

Exporters Trump The Game Again

2011-09-28T10:38:00.000-07:00

It is just no secret that the US government is doing everything it can to enhance exports, and if your business is a teensy weensie bit interested in exporting, odds are that there is help AND financing for you.

The latest entry is financing for California community colleges. Now these colleges are in dire straights, and any help they get from anywhere is more than welcome. There could be financing for minorities, or financing for agriculture, or financing for any number of other things. But the money is specifically for training companies to export.

This actually is great for the economy and for small businesses as a whole. Most small businesses just don't bother looking into exporting, assuming that there is too much paperwork, or that there is no market for their goods.

It may be time to think again. For the foreseeable future, any company that can export will be ahead in the financing game. Got toys? Got clothing? Got printers? Got anything that consumers or businesses can use? Export, young entrepreneur! Export!

Head on back to your business plan, comb through it for any possible export options. Then contact the US Export Import Bank and/or SBA and see what they can do to help you make it happen.

Do I Have To Write TWO Franchise Business Plans? Why?

2011-09-27T12:53:00.000-07:00

Well, yes, you really do need two franchise business plans. And they are very different. And they are likely written weeks, or even months, apart.

FRANCHISE BUSINESS PLAN No. 1

This is yours alone. Write it out. Scratch it out. Erase it. Start over. Toss it out if you like. But make all your mistakes here, on paper.

Most franchise companies will provide you with a business plan. That's nice of them. And there is probably some information in that business plan that you can use. But for goodness sakes, don't try using any of the stats without independently verifying them. With the turmoil in the world economy lately, few stats from even a year ago are still applicable.

If you really don't care if you lose your money or not, then go ahead and just use their stats and their business plan.

INTERIM STEP

Really learn the business. Go work for one of the franchisees for a couple of months. Figure out what goes on, the good, the bad, and the truly awful. And sometimes you will be pleasantly surprised.

BUSINESS PLAN No. 2

This is the franchise business plan that you need for bank financing. Put in all the bells and whistles and really show your stuff here. Since you've already done No. 1, you know your strengths and your weaknesses. Accentuate the positive.

You can bypass writing either one of these. But don't. Even if you don't need outside financing, create a strong "finance" style business plan anyway. Odds are that you can use it when you negotiate your lease or other major purchases. A business plan is also very useful when setting up business lines with major suppliers -- making a strong impression often means better payment terms.

Go, get busy. You've got a lot of work to do!

Business Grants In Action

2011-09-26T12:33:00.000-07:00

How would you like to have an employee who talks constantly? or one who can't sit near anyone? or one that is bothered by bright lights? Well, you would love it if this group of people had the skills of the employees at Aspiritech, a software testing company outside of Chicago.

That's right. All of these employees have a form as autism, many with Asperger's syndrome. But this form of autism comes with intense focus, comfort with repetition, memory for detail, and even high intelligence -- all the characteristics needed to be a great software tester.

So the founders of Aspiritech, whose son has been diagnosed with Asperger's syndrome, formed this company that could give these people real jobs that called upon real, existing talents. Grants for starting a business are not easy to come by, but the planning of this company, and the strength of its Board were no doubt strong factors in its success.

While all of that is really great. What interested us is that the company was set up as a non-profit. This means that it can accept tax deductible donations, as well as charge clients for work. This is the best possible use for business grants of all kinds: teach people how to fish.

Just as amazing is the company that inspired Aspiritech -- Specialisterne, a for-profit software testing company in Denmark. Specialisterne now has 50 employees, 75% of whom have autism. Specialisterne has a non-profit school and other endeavors, and the good it does just keeps on growing.

Big kudos for both of these companies.

The GOP Wants To Give Small Businesses Real Money -- Yeah!!

2011-09-22T17:28:00.000-07:00

I didn't think I would live to see the day. And here it is. "Give tax breaks to those who create jobs" they say. "Don't mess with the job creators" they say. They say it again and again. ('They" in this case is the Republican Party.)

Well, here we are. It is small business -- entrepreneurs even, like you and us -- who create the most jobs in this country. Everyone agrees.

According to the Small Business Administration, there are 27 million small businesses in the US, of which about 19 million are sole proprietorships in one form or another. That's us!! We are "small business". In fact, any company that employes from one person to 500 people is considered a "small business".

SO DON'T INCREASE TAXES ON US!!

Go tax those multi millionaires, the ones sitting in mansions, the ones who vacation in Barbados and the Riviera and exotics places I've never even heard of -- all in the same year.

But small businesses? Not on your life. We are the ones sitting here day by day, working to kick start the economy. Most of us work pretty long hours, and many of us work for little pay.

We've got slews of business plan examples to help new entrepreneurs on the way. Even if that entrepreneur is employing only one person -- himself -- he is helping the country. He is generating income, spending on business and personal items, and generally doing his part. We've got home based business templates and service business templates and business-to-business types of templates. Thousands of entrepreneurs are stepping into these businesses NOW.

So YEAH FOR REPUBLICANS. And Democrats too (but for different reasons).

A Love Fest, or How To Really Develop A Business Community

2011-09-21T13:23:00.000-07:00

I was party to a love fest yesterday, and it was oh so delightful. We (about 150 women) love him, and he adored us. Each one of us.

The occasion was the quarterly meeting of the Tudor Guild, the volunteer organization that supports the Oregon Shakespeare Festival. Shakespeare is a hard sell in many communities, and the Festival really had its share of problems this year, including a shattered main beam in one of the three theaters. In any other place a tragedy like that would close down the season, and perhaps shutter the whole organization. But not here.
Everyone pulled together like I have never seen. Tents went up. Scenery got moved. Costumes got moved. The ticket office performed miracles. Some actors performed without rehearsal in four different locations, and did so brilliantly. Even other theaters in the area opened their stages so this show could go on.

Yesterday was our first meeting with the artistic director since the disaster. The original theater is operating again, and the season has been saved. As we stood to applaud him, and he just as enthusiastically applauded us, a feeling of good will absolutely swept over the room.

Ashland, Oregon, is pretty much a one horse town. Without the Shakespeare Festival it would hardly exist. With the Festival, it is gleaming gem of a town. The Festival supports the restaurants, the retail, the bed and breakfasts, the hotels, the entire tourist trade.

And on the other hand, the Festival wouldn't exist without its volunteers. There are more volunteers than hired staff, even though it is an equity based theater. There are ticket takers, scenery painters, concession stand people, and bunches more, all volunteer.

It is a true symbiotic relationship, rather like a one factory town anywhere in America. But it works here. It really works. I came away from the love fest yesterday with a better understanding of why it works, and here are a few of the reasons:

(1) We all believe in the value of what we do. There is no way any theater could pay the volunteers to do what they do, so we do it for free. No unions. No negotiating.

(2) The Festival staff is very open with us. Yesterday we learned about how one of the dramatists for next year will go about creating a new play, a process that is hers alone. We learned about contracts with other theaters and plans for years down the road. We heard some ideas that may never come to fruition, but are exciting any way.

(3) The Festival is very honest with us. When the beam in the theater shattered, there were constant updates in the media. We never ever felt left out or misled. And we walked back in, secure in knowing that it had been fixed right.

(4) We really feel appreciated. Yes, we work for free, but the appreciation is much deeper than that. The Director appreciates the energy and creativity we bring to the whole project, not just the hours we put in. That is a great feeling.

VALUE - OPENNESS - HONESTY - APPRECIATION

What an amazing set of values to run a business with. The "honesty" one alone is worth its weight in gold.

There is an awful lot said about "creating community", especially with online businesses. It is not easy, especially with online businesses. But bringing these four values to work every day will go a long way to getting started in the right direction.

The 99 Cent Sweet Diversion

2011-09-20T09:13:00.000-07:00

And, NO, ebooks are not real books. They just aren't the same. They don't read the same. We don't retain the same information. We can't mark them up the same. We can't scan them the same. An ebook is simply not a real book.

I tried, I really have tried to like ebooks. They are a whole lot cheaper, and easier to carry around. And they do work great for light fluffy reading where I don't really care to savor the language or need to check back a few chapters to check for consistency in plot development. Ebooks are great for those 99 cent wonders being published now, the short, almost mindless bits of story telling that are little more than a guilty pleasure.

I really believe that ebooks are seriously damaging our young people's reading skills.
Having the definition of a word immediately available leaves no room for deductive thinking. And it is impossible to scan an ebook with any degree of comprehension. I feel my reading speed noticeably slow down when I read ebooks.

No, what ebooks really need is a way to behave more like a real book. I am sure this is on someone's drawing board somewhere, but please hurry up. And while you are at it, include these options:

A special pen for marking up the ebook.
A double page format like a paperback book with reasonable size print;
A way to go back a couple of chapters without using that silly "page back" button;
The feel of a real book, maybe even a bit flexible;
Show the pages on each side, both those already read and those to be read, rather than that "progress line" at the bottom;
Make it easy to navigate through chapters;
Speed up the page flip, or preview the next page as the page is turning.

There's a bunch more, but that would be a good beginning.

This whole issue came up because of our book store business plan page. I was astounded to discover that so many bookstores have gone out of business, and equally astounded at the state of reading in our young people. There seemed to be a connection. Since the demise of book stores is blamed on the rise of ebooks, I had an "aha!" moment. That deductive reasoning set in, and it is not difficult to pinpoint the culprit. We are training a generation of readers on 99 cent stories. How the devil do we expect young people to read when we don't give them material to read?

Ebooks simply do not promote reading. They are a nice little diversion. But that is all.

If we must have ebooks, let's make them as much like real books as possible, in the hopes that reading skills will once again be part of our youngsters' educations.

2011-09-19T20:56:00.000-07:00

Enough already! The world hasn't caught up with the last round of new software gizmos. Silicon Valley doesn't really care. There is too much money sitting in venture capital fund coffers, and they need some fancy place to put it. So software development business plans are in vogue. Again.

The one program that I would really like to see is the program that simplifies life. I don't think it is going to happen, at least not in my lifetime, but I can dream.

I must admit that overall the computer has gotten easier to use over the past decade or so, with major thanks to the Apple team. Left to its own devices, I think the PC powers would still have in a green screen world. It is hard to imagine where the next generation of software development will take us.

My gut tells me that security is The Big Issue to deal with in coming decades. Everything just needs to be more secure, from personal data to whole networks. And that is a vital issue. The blip with the electric switch that turned off all electric power in Arizona, Nevada and southern California startled us into realizing just how vulnerable we are. And it is scary.

Have you thought about thanking God every night for keeping our networks safe from harm? Maybe we should.

$55 Million Goes to New York Small Businesses

2011-09-16T09:42:00.000-07:00

New York is benefiting from a $55 million grant for business.

We are thrilled to report that millions of dollars is going to small businesses, via loans and innovation projects AND that some of that money is even ear marked for minorities. Small business funding is never a piece of cake, but projects like this make it so much easier for entrepreneurs.

The real cherry on top is that this type of funding is exactly what the economy needs. Everyone agrees that it is small business that fuels a slagging job market, but no one has been willing to step up to the plate and put their money there. Until now. This $55 million won't fix all the problems of the country, not by a long shot. But it is a real step in the right direction.

Make Mine A Million Has Gone Bust

2011-09-16T08:34:00.000-07:00

What a pity. It used to be a strong organization, inspirational even in its far reaching goals. But it has gone bust. It hasn't said so, but that is the only possible explanation for its paltry offerings now.

Take its latest offering, its M3 1000 thingy. It is hoping for 250 women entrepreneurs who can pay $65 (honest!) for a seminar. But wait! If you have an American Express card, it is free!!

And The Prize for winning the "pitch" contest -- WOW, a whole $1000. I honestly thought it was a typo, but I saw it in several places. Oh, and the winner also gets access to lots of online goodies, too valuable to mention. (yeah, right.)

Amazingly big names are behind this, like American Express, Wall Street Journal and CNN. Why? I haven't a clue.

And the "online seminar" promoting this is so sloooooow, speaking to viewers like they are 2 year olds, with an announcer who can't even enunciate.

Am I the only female entrepreneur who finds this whole thing disgusting? "Make mine a million" with a $1,000 prize???? And good grief, if those online goodies are so great, why don't they make them available to everyone? They are a non-profit ".org". Their goal should be to help EVERYONE.

This is what gives women entrepreneurs a bad name. I may remember when a business women's meeting was devoted to talking about whether to wear floppy scarves or snappy bow ties, but that was decades ago. We've come a long way, baby, and pap like this can only set us back by generations.

Is There Such A Thing As An SBA Business Plan Template?

2011-09-15T16:32:00.000-07:00

Well, no. An SBA business plan template doesn't really exist.

Here's the deal. You want an SBA loan. You've heard the interest rates are pretty good, and you think your business just may qualify. So you call up the SBA and tell them you want an SBA loan. They will very promptly tell you to contact your local bank, and they might give you the names of banks that specialize in SBA loans in your area. (Not all banks are SBA affiliated banks. Do ask the SBA which ones you should visit if the information isn't forthcoming.)

The SBA doesn't grant loans. None. Zilch. It is all handled through your local bank. The SBA simply guarantees a portion of some loans granted by the bank, making some sort of risky loans not so risky for the bank. Your local SBA affiliated bank has the authority to Yea or Nay any request for a bank loan completely, and can even squelch an SBA guaranteed loan. However, should your request look "iffy", they can opt to submit it to the SBA for a possible SBA guarantee. At that point the SBA can Yea or Nay it.

Banks like to keep good loans in their portfolios. When yours is a solid request, banks will often match SBA rates in order to keep you to themselves. So don't assume that you are paying a higher rate just because the bank is financing it themselves.

The actual business plan submission to the SBA is pretty straightforward. There is a basic short form to fill out. That and your business plan will be submitted to the SBA for approval, so make that business plan spiffy.

er ... um ... eh ... A Business Plan Presentation?

2011-09-14T16:19:00.000-07:00

Yeah. One of those. A what? you say.

A business plan presentation can be a whole lot of things. It can be the 60 second elevator pitch you give the guy you meet in the elevator. It can be a written plan you hand to a venture capitalist after an hour long meeting. It can be the stuff you give the bank in the hopes of getting funded.

The key to a successful business plan presentation is gearing it to the audience, no matter who that audience may be. Let's assume that notes on napkins are passe, which they are. So what are the other options?

A jiffy business plan. Use this when it is someone you already know and just want to bring up to date.

A written business plan. Never never send this out without first contacting the person to whom it is directed. Unsolicited business plans stack up in a huge pile and eventually get tossed in the dumpster. Whether it is your banker, your angel investor, you venture capitalist, or any one else, talk with them. Make sure they want to see it. They do it up to fit their specs.

There are oral business plan presentations too. In fact, these are far more common. And it is not just to a room full of venture capitalists. You will likely give shorter versions to a major supplier or a leasing company or your potential landlord, all with the hope of favorably influencing them.

So which one do you get ready? Well, all of them actually. Raising business financing is likely the toughest job you will have as an entrepreneur. Give yourself every advantage possible. Go in ready for bear, and maybe you just meet a fox.

A Great Computer Home Business Idea

2011-09-13T16:15:00.000-07:00

You've heard the hype. Coooome and get it. Your sacks of gold are waiting by the swimming pool. If you honestly believe that, you deserve to lose the money you will most certainly lose.

Everybody wants a great computer home business idea . Trust me, the ideas are there. There are thousands of great ideas out there, just waiting for your creativity and enthusiasm. Trouble is, few people are willing to work for it.

A computer based home business has a lot of truly great benefits. No suits. A great boss. Low start up costs. Flexible time, part time or full time. Interesting, challenging work. AND the opportunity to make some decent money.

But the money isn't growing on trees. It takes work to create a successful business, online or in a brick and mortar style. Consistent, dedicated work.

A few years back I recall chatting with a young man who had his own video company. Yikes, he said, because he "owned a business", his friends all thought he was a millionaire. If you've ever been in business, you know just how far off base that assessment really is.

The same mentality has crept over to home businesses, especially computer home businesses. Because it is a "computer" "home" business, the expectation is that it will rake in millions. Let me tell you, it just ain't so.

I know several hundred entrepreneurs who work online. Some of them really do well. Some do moderately well. And some just crawl along. None of them are millionaires. Becoming a millionaire on the web requires doing stuff that decent folk would never consider doing. No, my friends are pretty much happy entrepreneurs, home based, computer based business people who wouldn't trade their business nor their lifestyle for anything in the world.

You see, my friends are living around the world. Some have chosen island destinations, some are in beautiful, inexpensive countries in South America. Some are scattered around the US and Canada and Europe. Even a couple in Russia. That is the kind of flexibility that a computer home business gives you. You can move anywhere there is an internet connection, and conduct business just like you were sitting next to me.

So many home based entrepreneurs feel like millionaires. They can live in countries where the dollar really strrrrretches, gaze at glorious sunsets, scuba dive in blue waters, or schuss down icy slopes, or stay at home and raise their children the way they want them raised.

Now, if you had your choice of anywhere in the world to live, where would you choose?

A Business Plan Presentation Gone Awry

2011-09-12T19:56:00.000-07:00

My friend Jerry said he has his business plan presentation ready and wanted me to be the guinea pig before he went to the bank. Sure, said I. I like being a guinea pig.

I sit down at my desk. I hear a knock. Come in, says I.

Hello, Mr. Jones, says Jerry. (That's good. Nice and respectful.) I've got my business plan ready for your review. (Ouch!)

Wooooah, says I. What kind of opening line is that?

So we do it again. I hear a knock. Come in, says I.

Hello, Mr. Jones, says Jerry. I'm Jerry Henderson. We spoke last week about a business proposal that I was working on for my ice cream business. I am looking to open New Island, and am looking for funding for that.

Better, says I. But not yet best.

OK, says Jerry. You do it.

So Jerry sits at my desk. Knock knock. Come in, says Jerry.

I walk over and stick out my hand for a good hearty handshake. Hello, Mr. Jones, says I. I am Jerry Henderson. When we spoke last week about the expansion of my ice cream business, you suggested I stop by this morning so we could talk about it.

Hold it, says Jerry. He didn't say that.

Well, says I, he should have said it. Why are you there if you haven't cleared it with him first? How do you know he's not going into a meeting in ten minutes? How do you know your business proposal is so great that you should leave it with him today? How do you know what he wants to see in your business proposal? What's important to his bank? Stability? New jobs? Local interest? How do you know if you don't talk with him?

Oh, says Jerry. First we talk.

Right, says I. First you talk.

I am glad I was Jerry's guinea pig. Had he actually gone to the bank with his original plan, his business proposal would have gotten tossed in the pile with all the others, to be read some day when Mr. Jones had time (which he never does), or simply rejected outright.

No matter who you are presenting your business proposal, find out first what it is that floats their boat, and write your business plan accordingly. People are different. Institutions are different. Give them what they want and you are half way there.

It IS all about who you know. Make real sure that your banker is one person that you do know.

Christian Do Gooders In Business? You Bet!

2011-09-09T13:24:00.000-07:00

For years the words "Christian" and "business" were not used in the same sentence. It was assumed that anything done by anyone religious, Christian or non-Christian, was purely a charitable act.

Then something happened.

First one website appeared, probably for Bibles or other religious oriented gifts or books. Then another website appeared, perhaps for Christian artwork. Then another. And another. Pretty soon there were as many "Christian" websites as the religious world could handle, but there were still a lot of Christians doing business. Oops. Did I say that right? Yes! There were Christians doing business. And, frankly, I enjoy doing business with most religious based entrepreneurs, no matter what their religion.

Now there is a whole wave of work from home Christian business options. There are computer consultants, writers, salt and pepper collectors, horse owners, virtual assistants, marketing pros, tattoo specialists, and thousands and thousands of other types of businesses.

What sets these businesses apart from all the other web businesses is that these entrepreneurs adhere to their chosen religious beliefs while building a business. Most, for instance, probably don't work on Sunday. Most too choose their suppliers carefully, and choose to work with others of similar beliefs.

And, yes, many of these businesses are very successful. I am pleased to count a number of strongly Christian webmasters among my friends. And there is a Rabbi. And a Buddhist. And several who specialize in meditation. I like working with these people because there is an almost instant bond of trust, something sorely lacking in the real world of business. These are all good people, and good business people.

I don't know if I would call all them "do gooders", but they all do good. At the very least, they make the business world a better place to be, and that makes the world better for all of us.

The "In" Thing: Starting A Small Home Business

2011-09-08T14:41:00.000-07:00

It used to be oh so cute to have a home business. Now it seems like every Tom, Di and Harriet is starting a small home business, and "wow" is the operative adjective here.

This just ain't your father's home business. Nor your mother's. No, these business run the gamut from after school child care to international financial consulting, with thousands of options in between.

It is hard to imagine just how diverse these businesses are. Most use the internet, either for the business itself or for promoting it. But not all. Most are one person businesses. But not all. Many of them sprang up from the miserable economic climate of the past few years, but some have been around for a decade or so. Some sell home made soap. Some offer videos on investing. Some are life coaches. Some are exercise gurus. Some show you how to throw a great party. Some show you how to buy the perfect house. Some sell emu stock or horse breeding. Some do bookkeeping and taxes for you. Some teach you to speak Korean. Type in something in the search bar of your browser and you will find them. Odds are, you won't even realize that you are looking at home businesses.

They all have one thing in common: these are serious entrepreneurs. They may take a two hour break on a hot afternoon to go skipping through the sprinklers with their kids, but these are serious entrepreneurs. They have defined a product or service that the business offers. They have logos and all the paraphernalia of businesses. They network. They buy. They sell. They are building a business community to suit their way of doing business, and they are making money doing it.

Contrary to what some Get Rich Quick Guru may have shouted at you, these entrepreneurs are not for the most part millionaires. They work hard, they enjoy what they do, and they make a decent living -- not bad goals at all.

And amazingly, starting a small home business is now "In". It used to be that everyone wanted their "own" business; now they want their own "home business". It is a veritable tsunami in business thinking, and one that can only reap huge benefits for the entrepreneur and for society for a long, long time to come.

Yummy -- A Home Catering Business

2011-09-07T12:03:00.000-07:00

On the one hand, a home catering business is one of the easiest businesses to start.

There is little or no overhead;
You are doing something you truly enjoy;
You are giving great pleasure to your clients;
You work with joyful celebrations and events like parties and weddings;
And you probably know just what to cook when and why.

That is all just great. What may not be so great are all the other things that go into starting a home catering business. Things like:

Are your friends really going to want to hire you?
Where else will your marketing base be?
How will you find reliable part time help in a crunch?
How many graduation parties can you really handle over a weekend?
Can your family tolerate the constant interruptions in their kitchen routines?

And what do you do when the souffles fall?

Lots of people would like to start a home catering business or a home based bakery business, but few are truly able to pull it off. Starting a home catering business is probably about 80% management skill, and only 20% culinary skill. For people who enjoy cooking, that is a huge disappointment.

But for those who do possess that management ability, go for it!!

And reach beyond the party circuit. The party circuit gets pretty crowded. Look to children's parties or corporate lunches or barbeque events. There are dozens of specialty catering businesses that need your special touch, and your back office skills too.

12 Great Reasons To Take It Easy With A Home Base Business

2011-09-06T11:43:00.000-07:00

So what the dickens is so "easy" about a home base business? Well, lots of things.

1. Your boss is probably pretty good, so the pressure goes waaaaay down.

2. Your time is more flexible, making home and work both more do-able.

3. You decide when to work overtime, and when not to.

4. Your overhead is miniscule compared to a brick and mortar business.

5. Your startup costs are likewise tiny compared to a standard business.

6. You control what your business does, what clients you take on, how much to charge. And when the business needs to change, you change it.

7. You are using skills you already possess, and grow with skills that you opt to acquire as you go along. Cool.

8. You will be professionally challenged like no other "job" has challenged you.

9. If your business is computer based, you can take it along on vacations -- or not -- as you wish.

10. If your business is computer based, you can take it with you should you move.

11. Teaching responsibility and work ethic to your children is a whole lot easier when you demonstrate it every day.

12. You can play hookey without telling anyone you just want to skip through the sprinklers.

There are dozens more reasons why a home based business is a lot easier than a traditional job. The biggest negative is that there are no guarantees of a paycheck, but hey, in this economy who has such a guarantee any how? As Tracey Ullman used to say, "Go hawm!"

Home Business? No Money?

2011-09-05T11:25:00.000-07:00

Are you looking fro a home business with low start up costs? Look no further. One of the really great joys of owning a home business -- of any kind -- is that it doesn't usually cost a whole lot to get started. There are no leases to sign, rarely any build out, no employees to hire, no complicated communications systems to install, little or no machinery to to buy.

A brick and mortar business make take in $10,000 a month, but $8,000 of that likely goes to overhead. A home business may only take in $5,000 a month, but only $200 - $300 goes for overhead. So which would you rather have?

There are a few expenses for a home based startup business of course. The Biggie is "living expenses". Do take time to figure out just how much it will reasonably cost you to live, and make sure that figure is under control. Try a test run of your base expenses before opening up, i.e., give yourself a base budget for a month or two and see just how well you can maintain it.

The other expenses revolve around your business. An online business will likely need a high speed internet connection and a computer; a handyman will need his tools and a vehicle to get around; an artist will need his tools too.

It is a real good idea to work through your start up with Your Home Based Business -- get a solid handle on what you are doing, what you already know and what you need to know. Outline your marketing plan. Set your direction. Yo will be glad you did.

Thousands of new home based businesses spring up every week. If you do much business online or over the phone, you probably don't even know which businesses are home based, and which are not. It is rapidly become the career of choice for many thousands of entrepreneurs.

Staffing The Home Front - Home Based Businesses On The Rise

2011-08-26T13:36:00.000-07:00

Estimates are that now about one third of all small businesses are home based business. The includes business in all fields, from electricians who work independently to after school care centers to writers to accountants to all manner of business and personal advisors.

One third. That's a lot. Rumors have flown about wildly lately about how it is small business that will pull us out of the financial mess. A lot of that "pull" will come from these home based businesses. And what, I ask, did government do to help these independent entreprenuers? Nothing. Zilch. Nada.

For the most part these home based entrepreneurs are industrious people who were laid off or under-employed. They sought more challenge, more control over their own lives, and more money. So they went to work for themselves.

And everyone benefited. The customer benefited from lower costs, in all fields, because the home based entrepreneur has such lower overhead. Instead of reporting to a 20-story fancy building in the financial district, a home based accountant simply sets aside a room in her home.

Society benefited. Money is beginning to flow again. Slowly, yes, but it is beginning. Customers pay the entrepreneur who pays his own mortgage and buys stuff. It is a good cash flow, based on a strong foundation.

And the home based entrepreneur certainly benefitted. He took his idea and made it real. He may not be making as much money as he made in that 20-story fancy building, or he may be making more. Either way, odds are that he is a lot happier.

This goal isn't so far out of reach for most entrepreneurs. Take a home based business start up idea, tweak it to make it your own, and you are on your way.

Evaluate Your Business Plan Before They Do

2011-08-26T13:14:00.000-07:00

On the one hand, it is very easy to evaluate business plans. Those that don't meet a "good to go" threshold get nixed. And this threshold is pretty high. It includes a myriad of stuff, although the specifics vary from business to business. It might include:

Background on the business;
An indication that the owner(s) can handle down times;
A demonstration of just where the money will;
A clear delineation of how the money will be re-captured and re-paid;
Bio summaries that show the owner(s) to lead the field;
Strong marketing stats;
Complete financials;

...and just slews of other information. If any of the important pieces is missing, expect an immediate reject.

So do your own audit. Take a strong list of potential items to evaluate your business plan, and make sure that all the essential items are included.

Not everything will fit into a traditional business plan. If need be, make it a non-traditional sort. Include a disk with additional information, or set up a website (protected, of course) where they can access additional information.

The more money you need, the more important it is to go in really strong on the first step. If you don't pass this step, there won't be another. There won't be any interviews or offers or negotiation. Everything stops right here. You will likely get a nice note, "Sorry we couldn't help", but that's all.

The more sophisticated your business is, the more you are expected to know. Lenders will ask for additional information when all you need is $20,000, and they will even help you along the process. They won't both teaching you about business plans when you are looking for $200,000.

Help Is Here For Exporters -- Financing Help Included!

2011-08-03T12:19:00.000-07:00

Here is news for ANY business contemplating overseas distribution. The paperwork for exporting is not easy, but The Overseas Private Investment Corporation (OPIC) is making it a lot easier. AND they will help you raise financing for your export venture! It doesn't get any better than that.

OPIC is organizing two seminars this autumn – Sept. 29 in Orange, Calif., and Nov. 3 in Miami, Florida – for U.S. small businesses looking to expand into emerging markets. These Expanding Horizons seminars will provide companies with information about the various finance and political risk insurance products offered by OPIC, the U.S. government agency which has helped hundreds of small and mid-sized businesses expand and invest in more than 150 countries in Asia, Latin America, Eastern Europe, Africa and the Middle East.

These seminars will help businesses learn how OPIC can help them raise capital for their international projects and protect themselves against political risks, and how complementary products from other U.S. government agencies can help them get international business deals done. Speakers will include senior officials from OPIC, the U.S. Commercial Service, the U.S. Small Business Administration, the U.S. Export-Import Bank and the U.S. Trade and Development Agency. Participants will also have the opportunity to arrange one-on-one meetings with OPIC and other U.S. government officials.

For more information concerning the seminar, please contact Judy Gilbert at 202.336.8641 or email jgilbert@opic.gov.

To register, please visit http://www.rgameetings.com/opic%20 or call (510)628-0345.

Belly Up To The Bar, Boys! Investors For Small Business

2011-07-31T14:34:00.000-07:00

Finding investors is all about presenting a great idea to people who have money. Isn't it? Well, isn't it?

No, I am afraid that that is only partially true. That might be true if investors for small business perched on every telephone wire. But they don't. They hide in the bushes, and if you passed one on the street odds are that you wouldn't even recognize him.

We have this illusion about sending off business plans to several potential angel investors or venture capitalists, or even banks, and then making our riveting presentation and walking out the door with a check. Trust me, it is pure illusion, made popular by companies that sell business plans. That just isn't how it happens.

Find the right potential investors is a real talent, one that will draw on every single skill you've got, and some skills you didn't even know you had. Here's the uncomfortable truth: investors invest in people or projects that they already know. They don't know you. Even getting an interview will be a major accomplishment, even though you have a stellar business plan.

You need a stellar business plan, yes. But you need something else even more: connections.

Your networking talent will be pushed to the limit as you track down possible investors one at a time. The key concept is "referral". You need referrals. Investors of all kinds get requests for meetings all the time, and it is unlikely you will get that meeting UNLESS someone of note referred you.

There are a lot of ways to get genuine referrals. Here's one that has worked for us. Go to a trade show in the industry that your idea/product comes from. You could be a visitor at the show, or set up your own booth. Whatever you do, network like crazy. When you meet a potential investor, as you likely will, and you get a rejection, as you may, then ask that investor, "Since you can't do it at this time, what company do you think would be a good option for us to speak with?" If you are lucky, the trade show investor will drop a name or two. Bingo! You've got a referral.

Do the same thing with bankers. When Banker A turns you down, ask directly which banks might be a better fit. Bingo! You've got a referral to Banker B and maybe even Banker C.

Investors for small business truly could be anywhere. Talk with people. Yes, even talk with your hair dresser. People know people.

Always, always follow up with a thank you note, even if the lead didn't pan out. You never know when a new investor for your small business will come to mind.

Women Entrepreneurs -- The Me vs The We

2011-07-29T14:11:00.000-07:00

There was a big study recently that pointed out that women entrepreneurs are far less likely to toot their own horn than their male counterparts, even when they deserved it. This was across the board -- big companies, small companies, and everything in between. Since it is axiomatic that investors invest in people far sooner than they invest in an idea, this is a real dilemma for women seeking funding.

Women tend to be "we" people, while men are "I". When speaking of their companies, women are far more likely to say "we did this", and men are more likely to take all the credit for themselves. While the business world screams about "working as a team", in fact what they really want are leaders.

I wonder if we can come to a compromise on this. Instead of saying "we", can we women say "my company did this", or "my committee did that", or even "my team accomplished this"? When writing a business plan, can we deliberately shift from "we" to "my company", etc.? It is not "the" company, it is "my" company.

This is a subtle change, but could be quite effective. Pull out your business plan and look at how it is worded. Are YOU there, or just "we"? Is there a lot about "the company" and only a few lines about you? Does it sound like a group of great people got together and created this business, or did YOU create the business? In terms of your perception as a leader, it makes a difference. Don't expect to compete against a room full of alpha men shouting "MEMEMEME" when all you can do is whisper "wewewe".

Stand up straight. Look them right in the eye and say, "I made this business successful, and I saved it when the lousy economy threatened it."

Business Plan Ideas For Creative Entrepreneurs

2011-07-27T13:13:00.000-07:00

There's a nasty rumor about that creative people are not good business people. Well, I'm here to tell you that that is simply not true. In fact, the complete opposite is true: creative people are great business people because virtually all business need creativity to be successful.

So all you artists and chefs and teachers and consultants of all kinds, rejoice! There are a slew of great business plan ideas just for you.

Sometimes it seems hardest to tie down a creative income style business that can be operated at home, or at least started at home, so that is where we started. In our first run, we identified 25 solid home based businesses. And just look at the range of ideas, from being a seamstress to becoming an international public relations specialist.

The internet really opens up so many options for so many entrepreneurs, options that we would never have thought of even a decade ago. But now these choices are so possible that they aren't even revolutionary any more ... they are just fun!

If this is your first run at being an entrepreneur, take a week or two and work through the exercises in a book like Starting A Tutoring Business. While experience is a great teacher, it is a whole lot easier to learn from others' errors than from one's own mistakes. The first few businesses I had failed miserably. I think I could have cut that down by getting a better idea of what I was doing!

There is one area that creative people do seem to have more trouble with than others: pricing a job and collecting the money. It is often just hard for us to place a monetary value on our work, and to actually ask that the money be paid. There are a couple of ways of getting over that obstacle:

1. Try just posting the price and payment terms on your website. Should anyone ask you in person what the price is, just say, "Well, as my website notes, this is $X , and is payable XXXX". Then you are quoting your "website" as the expert in pricing, and most people will accept that.

2. Invent someone who will do the invoicing, not you. Let "Joe" do it. Sign the invoice with Joe's name. Just let him be the collection person, and if anyone has trouble with the price, tell them to contact Joe via email.

3. Develop package deals so you can offer a couple of options. Instead of saying "This is The Price", you can say, "For package A the cost is $XX, and for package B the cost is $XX". That seems to soften it. And again, it is not You asking for the money, but a price is being set for the package.

Creative entrepreneurs will come up with a lot more business plan ideas than what we have listed. We wish you all every success, and YES! you are in the right place!

Creating A Business Plan For Catering Business

2011-07-25T13:12:00.000-07:00

A whole lot of folks think they can create a plan for a catering business. And some of them are right. Some of them don't even write a formal business plan. The truth is that a business plan is not always needed. But there are some other that are always needed, such as:

BUSINESS SENSE. Knowing how to competitively price a catering job is probably more important than knowing how to cook. You can hire a chef if need be, but you don't want to hire someone else to run your business, and bidding projects is the core of your business.

And bidding entails knowing the whole process, from buying the produce to designing menus to hiring servers to creating the meal to cleaning up afterwards, and everything in between. It is not easy.

CREATIVITY. Odds are pretty good that your cooking skills are far better than the average cook. But "creativity" means something more. It means being able to present the catered event in a style that goes beyond expectation, and stays within budget. It means the ability to substitute veggies when your favorite farmer is out of zucchini.

VERSATILITY. The ability to wear ten hats at one time is invaluable as you develop your catering business plan. It would be nice if you could solicit bids from 9:00am to 9:30am, then go shopping from 9:30 to 10:30, then cook from 10:30 to 2:30, etc. But in truth the business world just isn't so tidy. Odds are that every single project will be interrupted at least a dozen times, and it is only your strong versatility that will allow your whole business to come together.

A catering business can be a great home business, or at least one that starts as a home business. Keep your overhead low, and learn everything you can in those first few months. The knowledge you acquire will hold you in good form, in good times and in bad. For a solid brush up on the skills you need, do work through a straightforward business planning book like Start Up Right Now. Figure out what you need to know, then go learn it.

"Success" And The Best Rated Home Business

2011-06-24T17:00:00.000-07:00

We have identified the best rated home business, the one that has the strongest potential for growth for the biggest number of people. It is the business where you will most likely find success on your doorstop.

So what is this "success" thing?

The Best Business Must Have Potential For Real Success

You just cannot believe the number of scams there are out there. Get Rich Gurus ("GRQs") promise you the moon, if only you put out a few thousand dollars. There are scams for internet businesses, scams for home based businesses, scams for starting your own business. If you can think of it, there is a scam for it.

How do you know it is not a scam? "Trust" is hard to define, but that is the feeling that you need. Look at how much money you are being asked to part with, and look for real evidence from real people who have succeeded. Be able to verify that success from a neutral third party. (i.e., If they give you a "phone number" to call or an email address, rest assured that it is staffed by their own people.) GRQs are a slippery lot, so be on the watch.

Watch, too, for claims that are just unreal. There are no overnight successes, not in any business. Success takes work. If it is too good to be true, it is not true -- every single time.

So what is a realistic claim when looking for the best rated home business?

A lot of "success" depends on what you need from your business. Some people are looking for a few hundred dollars a month to supplement their income. Some need thousands of dollars to replace an existing job, or a job they once had. If someone needing a few hundred dollars a month earned $800, she would be ecstatic, while someone who needed thousands would be very disappointed with that income.

"Success" depends too on how much time you have to devote to your business. If you can only work part time on weekends, your success will be quite different from someone who works 8-10 hours every single day.

So sit down with yourself, work through a good home business start up guide, and decide what you really want, and how you can really get it.

The First Great Way To Find Financing For A Startup

2011-06-22T16:48:00.000-07:00

The first great way to find financing for a startup involves another company, a big company, a company with money (and most big companies DO have money right now). And it is a company with a problem. More importantly, it is a problem you can solve.

Create A Partnership With BigCo

Big companies have money. Big companies have lots of money. What they often DON'T have is a solution to a vexing problem. And that is where your company comes in.

Provide a solution to a vexing problem that BigCo has, and you will have more money for starting a business than you know what to do with. And this doesn't have to be a major scientific breakthrough. For example:

BigCo wants to hire more women, but women are reluctant to work for BigCo because there is no child care center within 20 miles. So provide it.

Several restaurants in the vicinity of BigCo have gone out of business, and there is nowhere for employees to grab a quick, tasty lunch. So provide it.

Instead of having its usual big holiday bash, BigCo wants to tone it down, maybe to a snow party for the family. So provide it, and several more corporate gathering money saving options.

Each of these ideas means that you present a well thought out proposal to BigCo. Demonstrate clearly how you grasp the problem, and how you can solve it. The money that BigCo lends you to get started is a pittance on its balance sheet, but it can mean the difference between a solid business and no business for you.

This is no handout. You are not asking for charity. You are asking for a loan, or even a loan guarantee, or maybe just working space. Be clear on just what it is that you need, and how that will ensure your success.

This is only the first of five great ways to find financing for a startup. One of those ways even entails a bank -- and they are very, very tight with their money.

With every single way to find money for starting a business, the key is the same: do your homework and present your company in its best light. For example, there is no benefit to BigCo to propose that their employees get substantial discounts at your new gym a mile away when BigCo already has a gym on its premises.

There's an awful lot of money sitting in banks right now. Get creative. Find ways to pry some of that money loose so you can get your business on its way!

Business Debt Relief

2011-06-13T20:04:00.000-07:00

Debt Consolidation May Be Your Best Option for Business Debt Relief

Financial contingencies are something that may be expected within a small business organization. Just as the consumers find themselves drowned in an ocean of high interest debt, similarly, excessive commercial debt may also occur due to unplanned extension of business infrastructure and also due to poor financial management.

Though the business debt consolidation process, companies are there to help the business owners in repaying their debts, yet unfortunately there are many owners who refrain from seeking help from them out of shame. This should not be the way to go as debts, when neglected, can have a catastrophic effect on your commercial finances. Unattended business debt will invariably lead to pressure from the debt collectors. Therefore read on to know how you can pay off your debt through debt consolidation options.

How does a commercial debt counselor help with business debt relief on your soaring debt?

Just as a consumer credit counselor assists a debtor, a commercial debt counselor assists a business organization in the similar way. If you're unaware of the ways in which a commercial debt counselor can help you, read on.

* He will assess your present financial state and thereby take the necessary steps to mend them according to your personal needs.

* He will detect the exact financial problem and simultaneously educate the business manager to solve the problem by suggesting a number of ways.

* After determining the problem areas, the commercial debt counselor's main aim is to see the areas that are lagging behind and are adding to the business debt of that company.

* He may also reallocate funds to the necessary departments so that there is a balance again.

* He will give you suggestions about business finance management that can improve your present financial state.

* He may appoint external investors for a third-party expert opinion on the refurbishing if your business finances.

* Last but not the least, he will get in touch with your creditors and negotiate better rates with them.

Can a business debt consolidation loan help with business debt relief?

Yes, business organizations can easily take out a business debt consolidation loan but the process is a bit tougher than the personal debt consolidation loan. You can stick to making a single monthly payment through the debt consolidation, thereby relieving yourself of the hassles of making multiple payments. The interest rate on this loan will also be lower than the actual loans and therefore you can lower the monthly payments too.

As most businesses exist for the purpose of creating revenue, if the revenue is not enough to cover the costs, the lenders may hesitate to lend you with another loan during such a situation. Since debt consolidation loans cover a huge amount of debt, try to manage your finances well before applying for this loan.

Sleuthing On Your Competitors - Small Business Finance Underground

2011-04-28T12:04:00.000-07:00

For those companies in an esoteric niche, finding small business financing, whether from angels or venture capital, is a real hassle. In 25 words or less you need to educate your reader on just what your company is all about. (Ok, a bit more than 25 words. But not a lot.)

How much would it help if you could discover who funded your competitors? or other small companies in the same general niche you are in? Sounds like you would be halfway there.

Well, there is this great tool call a Form D. This is the document that startup firms file when they are raising money and are a type of firm that is exempt from registering with the SEC. These forms are available in two places:

(1) the SEC EDGAR website

(2) FormsDS , a website created by an angel investor

Door #2, the FormsDS website, has several advanced and filtering functions that make it worth looking at, such as sorthing by "newest". It is not completely comprehensive for all small business finance projects, but a whole range of startups are included, such as high tech, social media, biotech, hedge funds, and those that are in "stealth" mode.

It is axiomatic that we tend to stick with what we know. When an angel group already knows your niche, odds are much more strongly in your favor for a kindly reception. So add this website to your toolbox for small business finance.

Small Banks Pack A Whollop For Small Business Finance

2011-04-26T13:08:00.000-07:00

We recently moved our offices from southern California to southern Oregon, and we have made a few discoveries, most notably that small banks actually like small business. This is revolutionary to us since everything in California is BIG -- big business, big buildings, big leases, big investments. California banks can't afford the luxury of working with truly small businesses because they can't make enough profit to pay their Big office leases and Bigger salaries.

Oregon is absolutely refreshing. I've seen more bank ads directed at small business in one week than I saw for years in California. Several banks, like the local Umpqua Bank, even advertise business loans as low as $10,000. I didn't think such a thing existed.

There is a real message here for small businesses. Understand what your local bank can, and cannot, do for your business. A small fish in a huge frying pan will get burned time and time again. If you are that small fish, seriously consider taking your business to a smaller geographic area, one with a lower cost of living. Look at the local banks and see what they can offer. We were astounded, and you will be too.

And don't feel that smaller towns won't be able to provide the kind of talent or resources that you need to grow your business. On the contrary, they probably do. And if you need specialized skills, draw them in with the great outdoors, the sports fishing, the skiing, the great place to raise a family theme. You will end up paying less for your employees, giving you the option of being far more competitive in your market, and you will have happier people on staff.

Yes, we love Oregon, and the small banks here are great for small business finance. But we suspect that there are areas like this all over the country. Open up your eyes and really look at your options. Your business could be a lot closer than you think.

p.s. -- The bankers are also very nice here, but that is a whole different issue.

Make Your Home Based Business Dream A Reality

2011-04-24T13:27:00.000-07:00

There are slews of reasons to have a home based business start up, such as

To care for family at home, both youngsters and oldsters;
To have your own business without the hassle of high overhead;
To try out a business before committing to it full time;
To bring in household income; and
Wanting to go further than your job allows;

... and just so much more.

The tough part is making the decision to really do it. There are a lot of decisions to be made along the way, and experience in a brick and mortar style business may not be the best background to draw upon.

Well, 7 Step Business Plans has just made a home based business a lot easier for you. With a series of worksheets and checklists, it is now a breeze figuring out whether or not to work at home AND how best to do it. This is not someone else telling you what to do; it is YOU deciding what is best for you.

Your Home Based Business is designed to help you identify your strengths, and even those skill areas that need work. There is one line on "buy a desk". The rest leads you through decisions on

Identifying the best business to start;
How to finance a home business, and what to do if there isn't enough money;
Marketing the business;
Calling on a "team" when you are a solo entrepreneur;
The legal options open to you, and which to use;
What you can expect from your accountant, and your banker.

By the time you finish, you will have a complete blueprint, a business plan, for your home business.

Truthfully it doesn't matter WHY you want a home based business. It only matters that you DO want it. Over 70% of all workers would prefer working at home. If you are one of them, check out YOUR HOME BASED BUSINESS today.

How Much Education Does It Take To Be An Entrepreneur?

2011-03-20T15:50:00.000-07:00

So, waddyathink? How much schooling does it take to be an entrepreneur?

Answer: zilch.

There are very successful entrepreneurs who can't even read, let alone dissect the tax code. We all know a great little hot dog stand that has the tastiest dogs this side of anywhere, or the seamstress who just knows how long a pants leg should be. These businesspeople, and thousands like them, don't necessarily have any formal education at all.

Truthfully, there is no way that entrepreneurship can be "taught", and not only have I attended such classes, but I have "taught" them. We can teach about bookkeeping, or about all the options for advertising, or about how to write a press release, or even how to write a business plan. But we can't teach how to be an entrepreneur.

It is almost like there is an entrepreneur gene that lurks in some people. Some people just "get it", and some don't. That is true no matter what size the business is, large or small.

This fact struck home when I saw recently that the group of entrepreneurs with NO high school diploma were the fastest growing group of entrepreneurs. Basically, high school kids are dropping out of school to form their own businesses. These probably are not sophisticated corporations or partnerships, and may not even involve any funding, but they are businesses none the less. These are the business people who seem to inherently just know what to do to create and build a business. Problem: They need money. Solution: They start a business to earn it.

Hallelujah! This is the best news that I have seen in a long, long time. It shows people with gumption, with a sense of direction, people who can solve problems and help themselves, their families and their communities.

I would like to suggest that we get behind these youngsters and help them out, but I won't do that. I suspect they are doing just fine on their own. They don't need you and me. And if they do need our help, they will ask.

Truly, we wish all of you new entrepreneurs all the success you could dream of.

Microfinance for Business Alert!

2011-03-18T15:38:00.000-07:00

Is microfinance your game? Will you be in the New York area on May 23-24? If so, this Microfinance Conference is made for you!

A number of key players in the microfinance field are sponsoring the event: Kiva, Accion and the Opportunity Fund. The topics range from credit and how it impacts the microfinance industry, where financing will come from, analysis of successful programs, and lots more.

This conference is not necessarily for those looking for microfinance, but for those who are part of the industry, or who want to be. Many financial institutions and community groups SHOULD attend this conference. Microfinance is the wave of the future, right up there with angel investors and SBA lending. Many thousands of businesses are starting up now that need little more than a gentle nudge in the right direction. The overwhelming majority of these companies won't become the next General Electric, but put together, they WILL be a driving force in our economy.

There is another group that should be interested too: those entrepreneurs looking for a way to genuinely contribute to their communities. Microfinance needs leaders, people who are willing to step forward and gather community leaders, people who can assess needs and find solutions. If each community had such a microfinance group in place, do you have any idea how many thousands and thousands of entrepreneurs it would create? The thought is mind boggling.

The US was born and bred with innovation. Now is our time. Microfinance is our game. We have an unparalleled opportunity to really make a difference.

Angel Investors -- Who Are These Guys?

2011-03-12T11:50:00.000-08:00

Simply put, angel investors are those people and groups that invest money in new businesses, usually in their own geographic area. The sums invested might be small, but the impact is immense. Without angel investors, many small businesses would never get off the ground.

So who are these guys?

Well, yes, most of them are "guys". There are a few groups of women angel investors around, but not a lot. Angel investor groups are scattered around the world, with more groups in prosperous areas and in more populated areas.

Beyond that, it is hard to categorize them. I recently sat in on a round of presentations to an angel investor group. This was in a relatively rural area, so I met a retired executive from a large manufacturing company, an immigrant who owned the largest farm around, a bank manager, the CEO of the largest retail store in the area, a retired chemistry professor, and a few other business people, both retired and active. Common knowledge or experience was virtually lacking in this group. The only thing they truly had in common was the desire to make their area stronger economically.

And that is exactly what many angel groups seek to do: make their geographic area stronger economically.

They know well that the stronger the general business community is, the better it is for their own business. While some potential investors were interested in finding the next Big Deal, for the most part they were looking to bring commerce and credibility to their area.

This is a key consideration in presenting to angel groups, especially in our current economic climate. Answering the question, "What will this business do to help this area?" lingers there, unasked, and for the most part unanswered. So answer it, even if it is not asked. Use your business plan for angel investors to delineate just how many jobs this business will create, and just what the level of expertise for those jobs will be.

Businesses that create jobs for India and China are definitely out of favor. Point out in no uncertain terms how this business will benefit the local community, and hence will also benefit the angel investors.

You and Johnny Appleseed -- Entrepreneurs!

2011-03-10T14:52:00.000-08:00

I just had an eye opening conversation with my friend Molly. Molly and her husband both live and work in tony Orange County, California, along with their two children. I told Molly that I was moving, in large part because I am looking for a different way of life. Molly said she and her husband had just had the same conversation. She and her family are doing well, but the emptiness of the rich life they lead screams for attention. They want something better for their family, some place with a stronger sense of values and self.

I cannot help but believe that thousands upon thousands of families are going through the same decision making process.

For centuries families didn't seem to have a lot of choice about where they lived, or how they lived. They went where the jobs were, and they supported their families. That is certainly what my family did.

But right now we are on the brink of a major upheaval in our thinking about "jobs" and "careers" and our future. Now we have the internet.

More than anything else in history, the internet provides us with a way of creating our own businesses and creating our own way of life. Entrepreneurs haven't been so abundant since Johnny Appleseed roamed our countryside. And like Johnny Appleseed, the new entrepreneurs are free to wander the world to find their own place. Yes, you can do this! Thousands of entrepreneurs already have very successful online businesses, and you can join them.

It all starts with finding the best web host, one that will teach you about online business. Then you begin. And you build. And before you know it, your world is bursting with fresh new ideas. Like a burst of fresh air, your world will have changed.

Small Business Financing -- You and Your Banker, A Relationship

2011-03-08T14:31:00.000-08:00

We often expound on the virtues of getting to know your banker before it ever becomes necessary to ask for a loan. And that is sound advice. One question we do keep getting, however, is "How do I establish that relationship?" It is really not so hard.

Starting out is always the toughest part. Most entrepreneurs open a business account wherever they had their personal account, simply because it is convenient. Others tackle the banking decision with a bit more direction, perhaps using one of the list of questions that we have in our Start Up Right Now series, questions like:

How long have you been at this branch?
How many businesses like mine do you work with?

There's a whole passel of great questions to ask potential bankers, just to find out if they might be a good match with your particular type of business.

There are other things, too, that a good banker will be able to help you with. For example, your banker should be able to recommend a good accountant for your type and size of business. A small business making $50,000 a year requires quite a different sort of accountant than one making $5 million.

A good banker can point you in the direction of the right local business groups to join, again ones that are valuable for your size and type of business. The Chamber of Commerce isn't always the best answer for a home based business, but may be just right for a large manufacturing company.

A good banker will also know the names of several lawyers who can help with your specific issues, whether that is in incorporation, patents or non disclosure agreements. Most small businesses don't need a large sophisticated law firm, just a small office of one or two or three attorneys usually works fine, as long as they are business oriented.

These are all reasonable things to ask of a banker as you begin your business, or whenever you relocate to a different area. And NOW you've got something to talk about. Was the recommendation to a lawyer a good recommendation? Write your banker a note and thank her, and the next time you are in your bank, walk on over and shake her hand.

Questions like these establish in the banker's mind that you are a serious business person, and not a part time wannabe. And the follow up thank you is absolutely invaluable.

If this kind of dialog is not part of your banking relationship, you are with the wrong bank. Start interviewing now to find the one that will mesh with your business. Then, when you do need financing, the groundwork will already be in place and you will be halfway there.

How Simple Can A Business Plan Be?

2011-03-03T15:54:00.000-08:00

Well, a business plan can be very simple. Or even non-existent. Let me ask you this:

1. Are you looking for money?
2. Are you new to this type of business?

If you answered "Yes" to either one, or both, of those questions, you need a business plan. A great one. At least, a very good one.

If you are looking for financing, the lender/investor is simply going to want to know a lot of stuff about you and about the business. That is what a business plan is geared to do: to introduce your business to the potential lender/investor. In the event of a bank loan or SBA loan, it will represent your company to the bankers doing the review.

But if you have financing, either bootstrapped or from another source, you may not need a business plan for financing at all.

But you might need a business plan for your own use, and that is a different type of business plan altogether. This is the business plan that you write for yourself. No one else sees it, so you can, and should, be very honest with yourself. Lay out the strengths and weaknesses of the business. Evaluate what you already know, and what you will need to learn. Review the financials again, to make sure you are spot on. Explore more marketing opportunities.

This is YOUR workbook. Mess it up. Make notes in the margins. Scratch out. Erase. Re-do. Re-think. Evaluate. This is the time to do it: Now, before you open your doors. Once your doors are open, there won't be time. So take the time now; you will thank yourself millions of times over the next few years.

Start Up Christian Business

2011-03-01T15:36:00.000-08:00

We are often asked about starting a "Christian business". (If you are of another religion, just substitute that religion into the quotes. The article that follows applies to you, too.)

A "Christian business" could be something like a religious book store. That is a relatively easy business to set up, with a strong retail business model. A tougher issue are those entrepreneurs who want to exemplify Christian ethics within a business. (or Moslem ethics, or Buddhist ethics, or Jewish ethics, etc.) Many of these people have become disillusioned with working in corporate America, and for good reason: America is pure capitalism, and while that economic model is essentially a good one, it sometimes forces other approaches off the playing field. Those managers who are more in tune with keeping good employees compete daily with managers who are more in tune with a strong bottom line.

The past couple of years have stretched this concept to the limit. Do you keep good employees, and face going under; or do you fire good employees for the good of the company? Do you pay decent wages, or pay bottom of the barrel wages to keep competitive? Do you buy product that is cheaper and not so good, or product that is good but more expensive? Do you encourage unpaid overtime from your employees, or not?

It would be great if these decisions only need to be made on Wall Street. But in truth they are made daily on every Main Street in America. And it would be nice to believe that is only the product of tough economic time, but it isn't. This is the system we live in.

The "ethics" issue is a big one, and is likely to get bigger. We believe this is one reason why so many entrepreneurs are electing to become independent business people, especially online business people. We have an incredible opportunity right now, the opportunity to define our own future with our own business. We haven't seen such a burst of independent activity since the 1800's.

Sure, they are still sleaze artists on the web. But you don't have to be one. You can choose to become a very legitimate online business, holding onto the personal and business ethics that define you. The world awaits. Go get it.

The BIG Questions Of Life And Business

2011-02-27T15:15:00.000-08:00

There's really only one question to answer in life, or in business: What do you really want? Riches beyond measure? A nice retirement? A rainy day kitty? Lots of friends? Lots of money?

The question is much more important than most realize. And the answer you give will shape your life forever.

You see, you really can have pretty much what you want -- it is all a matter of what you are willing to pay to get it. Take that "riches beyond measure". Well, that's a lot. How about "lots of money"? You can have that. BUT

You will work 24 hours a day;
You will have no vacations;
You will have no family life, or much of a life of anything for that matter;
You will live in squalor while you save up your pennies;
You won't eat out, unless a Big Mac is on sale;
Odds are that you won't even have friends, you just won't have time for them, and
Odds are too that you will end up being the kind of business person you would never do business with.

But you will have money.

I recall reading about a couple who wanted a house of their own more than anything in the world. So they devised their plan to get it. They moved out of their comfortable apartment and got a tiny trailer for themselves and their two children, and set about to save every single dime they could. The trailer was parked in a run down trailer park. Macaroni and spaghetti were big items for dinner. No new clothes, a very little from thrift shops. No summer camps for the kids. No medical bills or dental bills -- they didn't fit into the budget. No Christmas gifts. These folks became genuine misers. Both parents worked, Dad even worked two jobs, leaving the kids to fend for themselves most of time -- baby sitters were out of the budget.

In less than four years this couple had enough money saved up to make a very nice down payment on a nice little house. They also had

A family that spent more time screaming at each other than talking;
Children who were afraid to speak to others, even neighbors;
Children who never developed the social skills that come from interacting with others;
Life long dental problems for two members of the family;
Malnutrition that took years to overcome, and more.

But they had their house. Sadly, the poor, cramped living space had taken its toll on everyone.

The same is true with most things. If you truly want it bad enough, you can probably get it, certainly if it has to do with money. (Talent is harder to come by, at any price.)

So now you are planning a business. Before you do another thing, answer The Big Question: What do you want out of life? Your business will be a dominant force, if not THE dominant force in your life. Make sure it fits your style.

Top Franchise Business Plans - Getting The Bang For Your Buck

2011-02-25T09:16:00.000-08:00

There are thousands of franchise opportunities. Most people look at franchises because they want the experience, and better profit potential of a franchised business. They pay a lot for that name recognition, sometimes even a million dollars, or more.

Not surprisingly, most franchises are consumer oriented. Most have training programs of one kind or another. Most have some sort of national advertising. And all have a certain number of failures, so franchising is not a guarantee.

The trick is to find those franchises that offer the biggest bang for your buck, i.e., for every dollar invested, they tend to give you a good return. There is a lot to consider when buying a franchise, but working your way through a 100 page prospectus is no fun. We were pleased to see the list that Forbes developed, setting out those franchise companies that give the best return for the investment made. Of their top 20, here are the best, ranked in terms of money needed for a typical initial investment from lowest investment to highest investment:

$61,000 - Merry Maids
$63,000 - Liberty Tax Service
$90,000 - Kumon (tutoring)
$155,000 - Great Clips (hair cutting)
$215,000 - Sport Clips (hair cutting)
$233,000 - Edible Arrangements
$240,000 - Sylvan Learning
$254,000 - Dominos Pizza
$258,000 - Jiffy Lube
$260,000 - Meineke Car Care
$266,000 - AAMCO (car repair)
$290,000 - Papa Johns (pizza)
$290,000 - Papa Murphy's (pizza)
$291,000 - Maaco (car painting)
$383,000 - Jimmy John's Gourmet Sandwiches
$390,000 - 7-Eleven
$1 million - Dunkin' Donuts
$1.5 million - Panera Bread (multiple locations required in franchise)
$1.5 million - Burger King
$1.5 million - McDonalds USA

Even if you are not specifically looking at one of these franchises, do two things:

1. See if you can get a copy of the prospectus of one or two of them. Study it, and find out what true disclosure is all about. It will make it a lot easier reading the prospectus of the company you are ultimately interested in.

2. Visit one or two of the franchises in your interest area (but not necessarily your geographic area). Really talk with the owner and find out what makes it good, or not so good. As long as you will not be a competitor, the owner will often share a lot of information with you.

And while you are planning, take a look at Franchise Business Plans. It gives you solid information to look for.

More Home Business Ideas

2011-02-24T22:03:00.000-08:00

Have you ever wondered what the most popular self employed fields are? Most of these are great home business ideas. Here are the top 10, according to the Bureau of Labor Statistics:

1. Agriculture, forestry, fishing, hunting
2. Construction
3. Professional business services
4. Other services
5. Financial activities
6. Wholesale and retail trade
7. Transportation and utilities
8. Leisure and hospitality
9. Information
10. Education, health services

One of these may or may not be the best small business to start for you, but there are a lot of ideas there. Some are obvious, like construction contractors or an accountant. Others are more elusive, but every bit as valid. "Professional business services" encompasses everything from freelance copywriting to insurance agent to marketing specialist. "Financial activities" can be a full fledged accountant, or a bookkeeper for individuals. "Education, health services" no doubt includes home nursing as well as internet based tutors.

There is just no doubt that the ranks of the home based self employed are growing by leaps and bounds. To join this revolution, find your skill and turn it into a business. It is a lot easier than you might think.

A Quick Trick When Writing Your Business Plan

2011-02-22T21:40:00.000-08:00

Writing a business plan is, at best, challenging. In one fell swoop you need to demonstrate how great your company is ... and what a great manager you are. Often it is easier to wax poetic about your company than about yourself. One of the things you will need to demonstrate is your expertise in collecting accounts, especially overdue accounts. A short paragraph on this one issue will go a long way toward establishing your credentials.

One possibility, especially if you often work with companies you don't know, is to use an outside service like Zintro Inc., which sets up an escrow account until the job is finished. Your client deposits the fee into the escrow account, and you receive it when the job is completed. At least this way you know that the client really has the money.

When there are clients that you will work with over a period of time, a background financial can be very useful. Don't bother asking the company for one. Go to a business credit company, like Dun and Bradstreet (summary reports are $59.99 each), or Experian (basic reports are $29.95). Both companies can provide more extensive reports if you need them.

You needn't go into great detail when writing your business plan. A brief mention of the services you will call upon is enough to demonstrate that you know what you are doing, and that you do indeed intend to get paid.

Small Business Financing In A Classroom

2011-02-21T14:32:00.000-08:00

For the most part, we are really not wild about what entrepreneurs are taught in a classroom. The instructors are typically "advisors" who really don't know the territory. It is no wonder that most new entrepreneurs are so green (not the good green) that they have a really, really hard time making a business work.

Once in a while we learn about something that works.

We've talked before about the best way to learn how to make money online. And we still believe that very passionately. (And, yes, we do walk the walk and talk the talk.)

We have also heard some good things about the classes that go along with the SEA Program (see the post just below for more information on this program). For example, this series covers:
* How to negotiate with franchise companies
* How to write a spiffy business plan
* How to do real market research

Before embarking on a classroom exercise, see if you can sit in on a prior group's class. Get a copy of syllabus. Figure out what you need to know to make your business successful (see Start Up Right Now for your evaluation), and make sure that this particular class will actually accomplish what you want it to accomplish. An entrepreneur's time is valuable, even if no money is coming in the door yet. Make the best use of the time you have.

Alternative Business Financing: The Self Employment Assistance Program

2011-02-19T13:29:00.000-08:00

Too often it seems that the government puts stumbling blocks in the way of entrepreneurs. Well, we've got a breath of fresh air: the Self Employment Assistance program (SEA) developed by the federal government.

The SEA is no shoo in, and it certainly isn't for everyone. But it is a nice tool to have in the tool kit for those who can use it. Basically, SEA provide self employment assistance to entrepreneurs who (1) have been laid off, (2) are on the verge of collecting unemployment insurance, and (3) meet the criteria of their particular state.

That's a lot of hoops to jump through. And there are at least two very major drawbacks:

(1) Only a limited number of states offer a SEA program, and
(2) Those who elect to receive SEA payment in lieu of unemployment insurance cannot opt to extend their payments as other unemployment insurance recipients can.

In spite of its limitations, it is unfortunate that so few states offer access to it. As of now, only DELAWARE, MAINE, MARYLAND, NEW JERSEY, NEW YORK, OREGON and PENNSYLVANIA offer access to SEA.

Small businesses have the opportunity to become the leading force in the economic recovery, and it is programs like this one that will encourage that growth.

Quitting Is Good, Very Good (i.e., the best small business to start)

2011-02-18T12:07:00.000-08:00

Quitting smoking is good. So is quitting excessive drinking or gambling or any number of other "-ings". But who would have thought that quitting your job is good?

Apparently lots of people. The "job quitting" index is definitely on the rise. It bottomed out in the fall of 2009 as people became very concerned about getting jobs anywhere else. It has been on a slow, steady rise since then, and is now approaching "norm".

What this says to economists is that people aren't so concerned about getting jobs elsewhere.

It says something else to us. What it says to us is:

(1) Employees are fed up with the long hours, low pay, no bonuses, and unreal expectations of most companies, not to mention the whole corporate culture thing, and

(2) More and more people are finding their way to creating jobs for themselves as independent entrepreneurs.

We know this is true because we watch our own numbers on what is being read, and what is purchased on BusinessPlanMaster.com . The trend is definitely toward entrepreneurship in all its forms. Because many of these new entrepreneurs work from home, a new phenomena, they fly under the radar of most government reporting agencies. How do you track whether someone is sitting at home surfing the web, or whether that person is engaged in a solid business that is based at home? I don't think the paradigm has been invented to capture that piece of info yet.

So let me share this bit of insight with you. If you, like thousands of your associates, are just fed up, look at some of the best small businesses to start. You will discover coaching options and wholesale options and professional options, and hopefully some options that even we have not thought of.

Make your own future.

The New Business Finance: Cutting The Big Guys Down To Size

2011-02-16T10:22:00.000-08:00

Have you noticed how the business world seems to ebb and flow on conglomerate building, and conglomerate busting? First, Bigco gobbles up everything in sight, whether related to its core business or not. The Bigco divests itself of everything that it can, even if it pertains to its core business.

Well, we are in the midst of a break up stage. And this breaking up isn't so hard to do.

Look at the large finance companies, Goldman Sachs, Morgan Stanley, JP Morgan Chase, etc. They are all losing key people to small boutique companies. Maybe we have finally come to our senses and are truly rejecting the moneymoneymoney mentality of large international firms, and are shifting to smaller, more personal companies.

There is a very strong message in this for all entrepreneurs. Go small, young man (or young woman). Even the smallest companies, the one person companies, have enormous potential for long term success. More and more companies are opting to stay small.

Consultants of all kinds are opting for their own businesses. The world of international communication makes this very do-able. Whether yours is a recruiting business or a tutoring business , or even a wholesale business, think about starting -- and keeping -- it small.

Your International Business -- With No Import Duty Fees

2011-02-15T10:36:00.000-08:00

The incomparable Wharton School of Business, along with other prestigious business schools, is learning what many entrepreneurs have known for years: Business is international. Period.

Many top level B-schools now have classes in Asia and Africa, in third world countries that didn't use to show up on their radar at all. And for good reason: many third world countries have now been identified as being the top growth areas for the foreseeable future. Good business people take note of that.

As an independent entrepreneur or small business owner, you can tap into that growing market painlessly via the web. Set up your website geared to an international presence. Get a phone service and screen sharing service that allow you to communicate easily with your clients. Secure a payment process to facilitate foreign money transactions. If your product can be presented in a digital format for immediate download, do it.

And you are on your way.

Unless you are shipping solid products, there are no issues with import duty or bills of lading or letters of credit.

The internet has been the greatest boon to entrepreneurs since advertising was invented. Take a look at how some enterprising entrepreneurs developed their international businesses. Then discover for yourself your best small business to start. Then do it.

Quicker Small Business Funding With Quicker Patents

2011-02-14T11:06:00.000-08:00

The US Patent and Trademark Office has long known that the patent process takes just tooooooo long, up to three years, and maybe longer if special beta tests are needed.

They also have known for a long time that it is small business innovation that drives our whole economy.

Ergo, if they could speed up the patent process, they could help jump start the economy.

The solution: offer an expedited service at a $4,000 fee.

At first blush I was ready to pooh the Patent Office for this move. The nerve of these guys, charging more for something that is sorely needed. It's like holding up your grandmother. Then I settled down and realized that small businesses probably already spend $25,000 or more for a patent attorney, so putting $4,000 more into the bucket to speed up the whole funding process probably isn't such a bad deal.

It would be great if the USPTO could just speed up everything, but that would mean putting nearly half a million applications each year on fast track. And they don't all need to be on fast track. Those that are looking to develop a product NOW need fast track. Those that are in funding negotiations NOW need fast track. Thousands and thousands of others can afford to wait a bit.

So if your patent is ready to file, get that business plan in shape for business financing and get going. The element of TIME just got put on your side.

Market Watch for Upscale Shoppers

2011-02-13T10:11:00.000-08:00

There is a sort of shopper that most retailers love, the up and coming shopper who has a few extra bucks and wants to spend them on a little luxury item. These shoppers can lift the spirits of any retail store, even those stores that don't specifically specialize in little luxury items.

And most importantly, these shoppers are once again growing in numbers.

Major retailers like Elizabeth Arden, Coach handbags and Procter & Gamble have all reported a definite upswing in upscale shopping. Christmas was good, and Valentine's Day promises to be even better.

Retailers note: If your store does not presently inventory little luxuries, this may be the time to do it.

New businesses note: Very nearly any business benefits from this upswing. Make sure your business plan reflects the effect this will have on your business, especially if you are looking for any type of business funding.

This is the kind of news that we have been waiting for. The economic mess isn't over, not by a long shot. But there is a glimmer of light at the end of the tunnel.

Green Plus Convenience Equals Small Business Success

2011-02-12T09:56:00.000-08:00

Green is good. Nothing to quarrel about there. Convenience is nice. Putting them together into a new small business startup is great business.

Here is a great business startup idea for our time: Delivering fresh, organic produce door to door.

This isn't a new idea. A few years ago there was a big fuss over a company that invested millions of dollars in large refrigerated trucks to deliver groceries to home dwellers. Well, that company went bust. And for good reason. It could only think in terms of millions, and that is not where the successes are.

The successes are with small businesses. Think one driver, not hundreds. Think one pickup truck, not huge semi trailer vehicles. Think one box of organic delights delivered to doorsteps.

One driver/ delivery person won't make a fortune. But take the small business start up guide and see how far you can grow that idea, not with big refrigerated trucks, but with more small trucks on smaller routes. It is a farmer's market on wheels. It harkens back to early 20th century America where local farmers took their wares from street to street. But it has a new twist. With you as the interim buyer, you can make some great deals with local organic farms. Buy the "left over produce" that the chain stores didn't take. It will be the right ripeness for your business and give you really quality fare. And the farmers will be eager to do business with you.

Your customers will welcome you too. Few people can truly make it to the local farmer's market -- the time just isn't right, or it is too far to drive.

Deliver quality produce, and you can have a number of routes in action in a very short period of time.

Banks Find Diversity In Small Business Loans

2011-02-11T09:44:00.000-08:00

There is a whole lot to be said for diversity of income streams. Diversity spreads the risk. Diversity gives more options for successes. This could not be more true than with business loans.

Every so often banks go through a phase where they crack open their doors to small businesses. We are now in such a phase. Banks that relied on loans and lines of credit to larger companies took a big hit the past few years. Big companies rarely had the flexibility -- and the moxie -- to meet the shifts and turns of the economic mess. As a whole, small businesses fared better. And small business would have fared a lot better if they had had access to funding.

The National Federation of Independent Business is claiming that over 90% of small business are NOT looking for funding. We suspect that, if this is indeed true, it reflects the enormous rejection that small companies have endured the past couple of years and not the reality of the situation at all.

If your company was one of the ones previously rejected for financing, spiffy up that business plan and go talk to a few local bankers. You just may find the reception a little warmer than it was just a year ago. Write a business plan with strength and confidence in the future. With your confidence and strong planning, you will be putting the lender in your corner.

Taking Business To Heart -- A Love Affair To Remember

2011-01-13T14:36:00.000-08:00

Dear Lynn Tilton,
I am madly in love with you. I know I haven't got a snowball's chance in heck, but hey, I can dream.

It is not that you are a stunningly gorgeous blond, with curls down to your waist. It is not that you look so delicious in black leather. It is not even that you are outrageously wealthy, a true self made billionaire, which also means you are darn smart. All those things are important to a guy like me, but it goes deeper than that.

I am madly in love with you because of the way you treat your companies. More specifically, when Tony Brown, Ford Motor Company's purchasing chief, asked you if you were like other private equity chiefs who "strip and flip" their companies, you shot back, "You must be mistaken. It's only men that I strip and flip. My companies I hold long and close to my heart." (see Wall Street Journal, Saturday/Sunday January 8-9, 2011, p.B1, smack dab in the middle of the page)

You just have no idea how that warms the cockles of a soul of an entrepreneur like me, and millions of others. We work, and slave, and put our whole fortunes on the line because we so dearly love our businesses. The notion of someday being forced to sell to a "stripper and flipper" who will tear our companies apart for the assets, then toss it aside, is well ... immensely depressing.

I know your climb to the top hasn't been an easy one. But rest assured that if we, the Little People, can give you a boost anytime, just let us know. We love your style.

With love,
Jason

Business Plans and Venture Capital

2011-01-13T14:15:00.000-08:00

A lot of businesses start out believing they really, really want venture capital. About 95% of those businesses eventually come to their senses and look for funding elsewhere. BUT, if yours really is a venture capital candidate, there a nice post on the venture capital process at Fast Business. It is a nice, general outline of the process. But we do take exception to one major point that FB makes.

FB makes a real issue of having a PowerPoint presentation pack. We disagree. We have heard it argued just as effectively that throwing away the PP presentation can be hugely impressive. In all honesty, venture capitalists really don't care that much about what is in a PP presentation. They can research anything you could possibly tell them in a hour's presentation.

What venture capitalists DO care about is YOU. Your Team. Your Dynamic. And how you present that is tremendously important.

A PP presentation is, at best, distracting, and at worst it can interfere with establishing a communication with the venture folk. Imagine yourself sitting at a table as a venture capitalist, looking for a company to invest in. Here are a few scenarios:

Scenario 1. The Team walks into the room, shakes hands with everyone, then turns on the projector for the PP presentation. A low hum and bright light permeate the room, and if the presentation is any good, the slides draw attention to themselves, i.e., away from The Team.

Scenario 2. The Team walks into the room, shakes hands with everyone, then begins a dialog with the venture people. Obviously, they have done their homework and they know which partners focus on what areas. They bring in mention of other companies in the VC's portfolio, and demonstrate how they can build the value of the company. Everyone joins the conversation, both Team Members and VCs.

Scenario 3. The Team walks into the room, shakes hands with everyone. All but one person in The Team steps back. The one presenter takes the business plan and steps forward, tossing the business plan on the table. "I know you have read this," he says. "So have I. We are here to see how we can work together to make this business even better than we alone can dream."

Don't waste everyone's time by regurgitating what is already in the business plan. Let the presentation take it further. Let the VCs know that you've got more guts than what is in the business plan itself, and more than you could into PP slides.

With #2 and #3 you've got a winner. #1 won't pass muster.

And we would take this one step further. If the venture people really do want a Power Point presentation, maybe they just aren't creative enough for your business. Take it if you want to, but don't be the one to suggest seeing it.

Start Your Business With $10,000 Or Less!

2010-12-30T14:49:00.000-08:00

You think I'm kidding? I'm not. You really can start your business with $10,000 or even less. Here's how:

1. Start A Home Based Business. Cutting the overhead is the key. No office rent. No retail space. No triple net leases. And this isn't just for crocheting doilies. Very powerful, and very successful consultants run home based businesses. in all fields. Even a team of three or four professionals can very effectively operate from their homes. Phone and internet communications are so readily available, and so cheap, that you can easily work with clients and partners all over the globe.

2. Start An eCommerce Business. Selling on a website is waaaaaay up from a year or two ago. Online merchant sales are increasing 200-300% annually, with no end in sight. Sell anything, from silk ties to diamond studs to hand made doggie hats. (No kidding -- there is a big market for pet clothing!)

3. Start A Part Time Business. Like catering. Or pet care. Let it grow until you are literally forced to give up your day job.

4. Get Creative. Need ideas for a home based business? Here are about 50 of them. All are great ideas in the right hands.

Small is IN. Personal is IN. Creativity is IN. The huge impersonal behemoth of a startup is OUT. Now is the time that real people can capture a corner of the entrepreneurial market for themselves. NOW is YOUR time to start your business!

Women Entrepreneurs With Great Ideas -- Step Up!

2010-12-30T13:30:00.000-08:00

Not quite ready to create your own business plan for your scientific idea? Does the notion of having a big company behind you appeal to you? Then there is a solution for you: Go to Kauffman Labs.

Kaufmann Labs is looking for women scientists and engineers with ideas to change the world. If you are a female, a scientist or engineer and living in the U.S., Kauffman wants to hear from you.

This is not a business plan competition. This is about letting breakthrough ideas be heard, and identifying the people who will make them a reality. No idea is too early stage and no dream is too big.

The winning woman will receive an all-expense-paid trip to TED 2011 in Long Beach, California, as a guest of the Kauffman Labs. The annual TED conference brings together the world's most fascinating thinkers and doers, who are challenged to give the talk of their lives. Kauffman Labs provides a new approach to developing the next generation of high-growth firms.

Business Plans For Top Businesses of 2011

2010-12-22T22:00:00.000-08:00

Well, we've been saying it for quite some time now, so it is good to see that the venerable Wall Street Journal sees it too: recruiting firms of all ilk will be among the top companies as we nudge out of the recession.

The logic is obvious. Companies probably won't just rehire previous employees. The best will have found other jobs by now. And, honestly, most companies have changed dramatically the past couple of years. So as the companies grow, they will be filling new slots with new people. New skills will be needed. New energy will be essential.

And it is recruiting firms that are in the best position to find these new employees and contractors.

So polish up your business plan for recruiting, or your business plan for an employment agency. Be ready for a burst of growth as your niche kicks into gear.

This is one of the businesses that can begin relatively small, with only one or two people in the beginning. A recruiting business can even be started at home, especially since a lot of the work can be accomplished online and via phone. An employment agency will likely want a small office to start, and there are excellent offices available at record low prices right now.

The important part about starting this type of business is to position yourself in a niche that you know well. Don't try to be everything for everyone, or you will end up being nothin' to nobody. Target. Promote. It's a winner.

How Much Does A Start Up Business Cost?

2010-11-17T10:02:00.000-08:00

I was surprised to learn that starting a business in the US costs an average of $174,958. That's according to the 2009 Global Report by the Global Entrepreneurship Monitor, as stated recently by the Wall Street Journal. I would have guessed it to be higher. But the "average" probably reflects the fact that a lot of smaller, one-person businesses are starting up.

The most expensive country for an entrepreneur is the Netherlands at over $300,000. And the cheapest are, of course, in the undeveloped countries. However, Brazil was a surprisingly low $34,128, and Hong Kong came in at $107,631.

There are some businesses that are notoriously expensive to start up, those with high equipment costs, or those with high franchise costs (like MacDonald's), or many in the biotech or communications fields. That doesn't mean the higher cost isn't worth it, but it does require more cash to start.

Service businesses are among the least expensive to start up. There are no major equipment purchases, no franchises to buy. Many, many consulting businesses start with no more than a website and a phone connection.

Retail businesses fall somewhere in the middle. There are the costs for buildout, and the rent deposits, and the advertising, and the inventory. Just how high those costs are is dependent on the product, the clientele and the location.

So how much is YOUR start up business going to cost?

You've got to run the numbers. That is absolutely the only way to determine the costs for your business. Averages don't do it. Even industry averages don't do it. The costs for YOUR business will be unique to your business, reflecting your approach to business and promotion and inventory and personnel.

Find out if you can follow your dream, and what it will likely cost. Run those numbers now.

The Great Fallacy Of Business Plans

2010-11-03T09:36:00.000-07:00

Ain't it great. You've done tons of research. You've hired an accountant for the financial projections. You've written and re-written your business plan until it sparkles.

And the whole thing is a farce.

A written document provides such a sense of "yes", such a sense of completion. We are still slaves to that old adage that if you see it in print, it must be true. Realistically we know it's not true. But we choose to believe it anyway. And it is a farce.

There is just no way in this day and age that any business can predict with any degree of certainty what it will be doing in five months, let alone in five years. We live in very uncertain times. The key to being an entrepreneur in this age is not the ability to write a business plan, but the ability to adapt to the changing business environment.

The savvy business person knows that the business plan is just the starting gate. This is what you hope to do on Day One.

The savvy business person also knows that by Day Thirty there will likely be changes in that plan.

We complain that angel investors aren't investing. And they aren't. We complain that venture capital firms aren't investing venture capital. And they aren't. We complain that banks aren't lending. And they certainly aren't.

A good part of this non-action on the part of investors and lenders is justified. They continue to be presented with business plans that project unlimited success far over the horizon. They just aren't seeing business plans that demonstrate a knowledge of, and control of, evolving conditions.

In fact, lenders and investors won't see that demonstrated in the financial projections. Or most other "sections" of the business plan. They will see it demonstrated in the creativity of the whole presentation, and in the experience of the key players. Creativity really is key. Cookie cutter business plans just don't work. They never have worked, and they certainly don't work in this environment. Every single business is going to encounter its own challenges, and every single business needs a creative key team to tackle those issues.

Yes, hire an accountant for the financial section. And have a strong writer edit the presentation. But overall, make it your own. Demonstrate in 20 pages why you are the best team in the whole world to lead this business. Then the funding will be there.

Venture Capital Is Taking A Hit

2010-11-02T22:45:00.001-07:00

Companies planning on tackling venture capital firms over the next few months are revising their plans in droves. Venture funds just don't have the capital on hand that they are accustomed to. Not only have investments declined, but the return on existing investments has declined virtually across the board.

The venture capital industry is being hit by shrinking returns as it continues to struggle to recover from the financial crisis, reports the New York Times.

The 10-year return, seen as the most reliable benchmark for the industry, was negative 4.2 percent at the end of the second quarter, compared with a positive 14.3 percent during the same period last year, according to the latest figures from Cambridge Associates and the National Venture Capital Association.

With the exception of the 20-year return, which posted a modest increase, returns were down across most time horizons, the report said.

“While we have seen increased exit volumes in 2010, the number of I.P.O.’s and acquisitions have not translated to improved venture returns yet,” Mark Heesen, president of the National Venture Capital Association said in a statement

Mr. Heesen said that the venture capital investors should brace for several more quarters of declining performance, adding that “the 10-year return number — which we view as the most reflective of industry performance — won’t begin to reverse its negative trend until mid-2011.”

That was "begin to reverse itself", not totally reverse itself. In venture speak that is a very conservative statement. Venture capital financing is taking a hit.