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Starting Down the Path-You are Getting CloserHere you are thinking about going into business. How great it would be to be my own boss (you are dreaming about). I can do what I want, be where I want and make all the decisions. WOW! how wrong you may be. This lesson may open up your eyes to new issues, understanding and ideas that you have not thought about. Remember, you are now responsible (solely) for the health and welfare of your and your families lives (financially). Don't think it is a walk in the park or a part time endeavour. Check out the real issues of starting your business. It may save you some time and energy in the future
Good Luck in your Venture!
In the Beginning-Turning your Dreams into RealityGoing into business may be easy. Staying in business is the hard thing. Not understanding the marketplace, the competition, the customer needs, the rules and regulations will certainly put you at the disadvantage. This lesson provides information to help you understand these issues and provides tools to use. What we want to deliver isn't necessary what the market wants. We should know this before we make the investment in time and money.
Learn more so you can do more and hopefully reduce your risk of failure
Good luck in your Venture!
Risk ManagementRisk Management introduces the concepts of protecting assets and being proactive to the risk of loss. It discusses different methods and provides tools to mitigate risks of loss and strategies to think about. It also focuses on the different types of risk that businesses might encounter such as cybersecurity, disaster issues and recovery, internal and external fraud and many other issues that ALL businesses need to be aware of and methods to reduce the risk of failure. We hope that this lesson will give you some ideas and aid in putting some thought into your planning before and after you enter the business world
Good Luck in your venture and think about the future and how to protect your personal possessions business assets
FranchisingFranchising has been around for a lot of years. You are buying a system, a process and a brand. In all of this it is still you running the business. It is still the location and the environment that provides the resources. When looking at options of going into business, don't be blindsided by expecting a franchise to be the ultimate solutions. You and your experience, knowledge and team are the real heros. This lesson helps the entrepreneur to get an unbiased view of franchising and to present the fact and views without something to gain. Be aware! Every business type requires the same due diligence process but each alternative or option will have its own uniqueness that has to be understood and worked out.
Good Luck in your Venture
Buying a BusinessThere are many ways to buy a business. Choosing the best route for you to go requires one to understand the environment, the resources and the risks. When buying a business one needs to think about what they are buying:
- Stream of Cash Flow
- Customer lists
- Other items
Best of Luck in your Venture
Family Owned BusinessFamily owned businesses can be very tricky. They have an element that does not exist within non-family owned businesses and that is RELATIVES and family togetherness. When in business with relatives, it may be difficult to keep the emotions out of the business but no one said it was easy to go into business, especially with relatives. Int he beginning it may sound like paradise. As the business progress, then issues may pop up:
- Who does what?
- Who gets paid what and why?
- How will it work during family events and activities?
- Who gets the bigger house/ auto and why?
Good Luck in your Venture!
Home Based BusinessWhat a great idea! Work from home at your own schedule at your own convenience and in whatever attire you want to wear. Sounds great and it all may be true. This lesson will bring to light some of the legal, tax, regulatory and social issues of working from home. Many questions will be answered such as can I deduct a home office expense on my taxes? Many of these issues will be discussed bringing in practical illustrations and some realistic discussion of the laws, regulations from a local, state and federal perspective. The more you learn the better you can make informed decisions.
Good Luck in your NEW Venture!
Financing your VentureHave you tried to find money to finance your venture? Sometimes it is hard-like betting your head against the wall. Either your credit score is too low or you do not have enough assets or cash to secure a loan. This lesson give insight on different methods small business have used to finance their dream. There are resources, links, tooks and practical applications that can be applied to the entrepreneur's issues and situation. Take these ideas and run with them. They may make a difference and help in getting to where you want to go.
Good Luck in Your Venture!
Budgeting-Why Spend the Time?
Budgeting is a process. The entrepreneur may want to take short cuts but this is no place to start. I may be time consuming and sometimes brain twisting, but it is well worth the trouble. . In the end, this lesson demonstrates the value of the process and its components and will provide the "how-to" every step of the way.
Good luck in your future Venture!
Marketing-All it TakesMarketing is one the required elements of a business. Marketing and its integrated parts is what brings the customer to the store front-digitally or physically. Marketing is all about the needs of the consumer, where to position the product/services, how to price and brand the product. Marketing is coupled with market research, to understand the market place and how it is changing. Marketing is what makes the cash register ring and the bank account increase. It is a function that begins before you go into business and stops only when you cash out.
Good luck in your Venture!
Are you up for the Challenge?
This is the beginning of the rest of your life. This lesson is all about your readiness to jump into the ring of entrepreneurship. Here you will be able to understand the challenges and look into yourself and reflect on the traits, characteristics and responsibilities of being in business.
Good Luck in your new Venture!