Do You Have an Idea For a Dream Business?

Generally a business idea starts as a dream. We all dream daily but most times we cannot remember what the dream was about. The best way to remember your dream is to always keep an ongoing journal or a small notebook by your bedside.

Immediately after you wake up jot down the person, place, things, colors, sounds or any minor details you may recall. Some details may be revealed as a business idea for a product even if it is unpleasant or vague and especially if you have dreams about the same things.

An example would be if your dream reveals to you the idea of playing with children’s toys. Take that idea and think of the many kinds of toys you can visualize and create. You can even expand on other accessories for this toy. This could be your new dream idea for a business.

Here are just a few ideas or suggestions:

1. Do extensive research on the different toys children really like

2. Do a random survey on different age groups

3. Do settle on a target age group to focus your plans for a toy

Perhaps you could ask a local school Principal’s permission to hand out surveys to their students. Print out a fun and colorful survey with pictures on it so the children can view and mark which items they prefer.

Certain age groups vary in their likes and dislikes. Write your survey for several groups to get a feel of what girls versus boys may like. Boys often like toys that make a loud noise whereas girls may like a quieter sound. Boys may not even notice the color of a toy while girls like softer colors like pink or yellow.

Now you see how your dream can turn into an business idea and possible expanding to include product accessories and school products like lunch boxes, dolls, trucks, comic books, etc.

Go for it!

Is Fear of Failure Holding You Back From Starting Your Own Painting Business?

It’s a known fact among house painters that over 90% of new painting businesses never make it past the first year. But did you also know that one of the main reasons so many good painters never get started is due to fear of failure? Fear of failure paralyzes painters into remaining in dead-end jobs doing this for bosses who don’t appreciate them and who barely pay them enough to survive.

Although our industry desperately needs better customer service oriented painters in the field, there is a right and wrong way to go about getting started. The thought process for most house painters considering starting their own business is “I know how to paint so I will start my own painting business” but it quickly becomes clear that there is more to owning a business then the ability to apply paint well. Don’t get me wrong good skills are a very important part of the process, but there are two other skill sets that must be developed also. Having a grasp of these two skill sets practically eliminates the fear of failure and will put you on a firm foundation to grow your painting business.

The first skill set is marketing, which is the ability to get your phone ringing and consistently bring in new work.

The second skill set is bidding and estimating, which is the ability to come up with the right price and land jobs on a consistent basis. There are really only two ways to develop these two areas of specialized knowledge. You can take the frustrating, costly and time-consuming route of trying to figure it out on your own through trial and error, or you can research study and apply proven techniques found in a quality painting business building home study course.

My point is that the information gathering phase is arguably the most important first step, but unfortunately it’s also the most overlooked. The good news is there’s one sure fire way to overcome the fear of failure and that is to gather information and educate yourself about what it takes to start, profit and succeed before you jump right in. Spend some time searching the Internet looking for websites and gathering information such as articles and interviews, presented by people who are already experiencing the type of success that you would like to achieve.

Decide what type of paint jobs you would like to target (for example, interior residential repaints). Speak to your local professional store manager and ask questions about your local market. The funny thing about the fear of failure is that it only exists because of “lack of knowledge”.

So if you spend some time gathering information from credible sources about how to develop a cost effective marketing system and how to competitively and profitably bid and estimate paint jobs you will quickly gain the confidence to finally take the step and be your own boss. The more knowledge you gain before you get started, the greater your chance for long-term predictable success.

Can You Make Money Without Money?

When I ask why you don’t start your own business, I always hear, “I don’t have money to start a business.”

This is a common excuse people give for not starting their own business.

There is truth in the statement. You actually need money to make money or to start a business. But the question is “Do you need a lot of money or little to start a business?” and “Whose money do you use?”

Yes, I admit that it does take money to make money but it doesn’t need to be your money!

Recently, one of my friends closed his restaurant business due to staff problems. But he quickly jumped to another business opportunity.

The business idea is so good that I want to share with you.

He is now running a training company. He focuses on corporate training. Basically, what he needs to do is to bring in famous trainers to his workshops. Market and promote the workshops and get people sign up for the workshops.

How much money do you think he needs to invest to organize one workshop? From getting the speaker to marketing, from selling tickets to renting a venue?

It will definitely cost a lot of money! Even if you only talk about marketing.

You know how much money my friend put in to organize a workshop? Close to zero!

How could that happen? How on earth that he doesn’t use his own money to organize a workshop but all the profits go into his pocket…

Here is how.

He got the idea to look for sponsors for his workshop. After a few rounds of searching and corresponding, he managed to get big companies to be the sponsors for his workshop.

For companies to become my friend’s sponsors, they need to contribute money to promote the workshop. This single idea helps my friend to save hundreds of thousands of dollars in marketing.

Not only that, his sponsors also help him to market and sell tickets for his workshops. He also can leverage on the sponsors’ client databases.

Of course, my friend doesn’t mind to give some commissions to the sponsors from the sales of tickets. It’s only a small fraction of the whole profit.

By making such an arrangement, a lot of work is off-loaded from my friend. It’s like having a well-oiled machine working for you without much of your involvement.

My friend doesn’t need to invest a big sum of money for his workshops. Someone else will pay for his workshop expenses.

Does this sound like an excellent business idea? Of course, it does.

This is what I call ideas at work. Making money does not necessarily require huge capital, it’s all about coming up with ideas that other people are willing to invest in.

As Napoleon Hill once said, “One sound idea is all that you need to achieve success.” And also stressed by Robert Kiyosaki “Money is an idea.”

Acquisition – Are You Ready for It?

Selling your business is not that different from selling your house. The home shows on television give all kinds of tips about preparing your house to get the best offer. Here are three things you can do to get a better offer for your company.

1. Curb appeal is important. You probably don’t stop at a restaurant that looks dirty and poorly maintained. You pass by service stations that look dirty and have visible maintenance issues. If you were buying a house, there would be many you would just drive by based on their lack of curb appeal. The same rule applies to a business. If it’s a mess on the outside, people assume the worst about the inside. Your outside is not just your building. It’s your reputation, your website, how you answer your phone, – in short, every face that you show a potential customer. Your potential buyers are looking at every way that you communicate value or lack of value before they even come into your building. Be sure that they see value from the outside to get them inside.

2. Up to date equipment is essential. If you go into a restaurant and can see ancient equipment and hear the employees telling customers that they can’t make a milk shake because the machine is broken or they don’t have waffles today because the waffle iron broke, what does that tell you about the restaurant? If you’re looking at a home, and the kitchen and bathrooms are seriously out of date, you can tell at a glance that there is work for you to do. The same rule applies to a business. If you go out on a shop floor and see equipment that is obviously not being used but taking up floor space, you can definitely assume the worst about the things that aren’t immediately visible. Can you find current preventive maintenance manuals for your equipment?

3. Neatness counts in the organization. If you’re on a shop floor and you can see tools in odd places, inventory piling up, or just plain clutter, you have to wonder about what you can’t see. If people aren’t taking care of the little things, do you think your buyer will believe they’re taking care of the bigger, much more costly issues? What does your inventory area look like? Can you find a specific part if you try? Will your potential buyers be able to ask for a part and see a quick response from your employees or will they discover a lack of inventory accuracy? Is your documentation where it should be? Are people following clearly defined standards and procedures? Do people know where things are supposed to be kept and make sure they’re in their proper place?

Conclusion: Relevant, clear, concise communication of your expectations to your employees sets the stage for your exit plan. Making sure that they know, from the webmaster and the line worker to your top managers, how you expect your business to be seen will make the difference in your return on the investment you’ve made when you’re ready to move on to your next venture.

How to Start a Purse Party Business – The Essentials

If you are looking for a way to make money out of your home or simply supplement your regular employment income, starting a purse party consulting business could be a great option for you. In contrast to a number of other home party businesses which have fixed catalogs of products which you are required to pick from, purse parties really are a more flexible business model for the reason that the purse party consultant has the luxury of determining the types of purses, handbags and accessories which she wishes to market at the party depending on her own personal tastes and the preferences of the guests who will be attending.

Below, we’ll talk about how to start a purse party business and some of the things that you need to consider.

Understanding Your Guests and Their Personal Tastes

You have the option of offering a very large range of items through your designer handbag party from designer handbags, designer look-alike bags and inexpensive but trendy purses. Exactly what handbags you promote at your purse party business will be determined by who is attending. Knowing your attendees and their tastes before hand will ensure that you have the right types of merchandise available at your party.

How To Start a Purse Party Business – Finding Dependable Distributors

An important factor in creating a flourishing handbag party business is selecting solid suppliers.

To ensure a broad enough range of merchandise, you’ll want to make sure that your supplier has the following bases covered:

– Brand Name Purses

– “No name” reproduction designer Purses

– Stylish and Economical Handbags

It’s really important that you find the right suppliers for your new business. Customers pay in advance for their merchandise so you should choose distributors who will be able to deliver product in a timely fashion.

Products on hand

One of the things that is nice about starting a purse party business is that you can get going on a modest budget and expand the line of purses that you carry as your business expands. Having even a modest supply of hands-on sample purses and handbags with you at your first purse party will still engage your guests and get them pumped about the merchandise you have to offer.

Guest Invitations

When you first start out, you’ll host your own handbag party. You can invite your friends, family, neighbors and co-workers. If you have a lot of people on your potential invite list, you can even break your list up and host multiple parties as small, more intimate purse parties often work the best.

How to Start a Purse Party Business. Planning Your Handbag Party

To create a successful first handbag party, you’ll want to make a short list of things to do. You’ll find that your “to do” list will expand to include more items once your purse party business really starts to take off and you decide what works best for your particular situation. To get going, your first to do list should cover off the following items:

* Distributing invites along with a brief description of how purse parties work and a description of the types of merchandise you will be offering.

* Plan on offering some simple appetizers and some drinks like red and white wine to liven up the party.

* Games – Planning some party games will lighten the mood of the big event while having a door or raffle prize will keep people interested in your merchandise and increase your bottom line!

How to Start a Purse Party Business – Setting Up Your Display

A good looking and well arranged display of the purses you have to offer will always make a good initial impression as guests come in. Try to arrive at least 30 minutes before invitees to set up your display. Most consultants will include in their display sales leaflets, catalogs and other promotional items. Place your display table on one side of the room leaving lots of room for your party-goers to hang out and look at the purses. You may also want to put out some business cards which can generate some repeat business from your guests.

Growing a Lucrative Enterprise

The tips and suggestions above will help you get your purse party business off to a great start and will ultimately lead to requests for your services and referrals from others in attendance. Coupled with other unique and innovative marketing strategies that you can easily implement, you can expect that your purse party business will get off to an excellent start and grow into an excellent source of income for you.