Are You Good at Climbing?
I climbed out of my crib very early, and proceeded to live a very hyperactive childhood, so I have been told by parents, aunts, elder cousins, and others who have known me my entire life. I have noticed that whenever these individuals relate this story, their pupils dilate. According to some researchers and body language experts, this means that they either find me attractive as a person, or that I am a source of anxiety. I certainly hope for the former interpretation, as it would be emotionally unhealthy for these individuals to hold a grudge, now that I have reached adulthood.
Within a few months after I escaped the confines of my crib, I was climbing the stair-stepped configuration made possible by opening drawers in certain pieces of furniture. I attempted to scale the side of our refrigerator, and almost made it. Unfortunately, the shiny coffee percolator I grabbed to pull myself up wasn't bolted securely to the top of the refrigerator (a parental oversight, given that almost everything else was tied down, cordoned off, or roped shut). I tumbled down and landed with the spout of the percolator impaling my chin. That's the source of one of my earliest "good scars." As just about everyone knows, an ample collection of these scars serves as a great way to break the conversational ice at social gatherings.
It was not too long until I was climbing the sides of hills, houses with gutters or other hand-holds, trees, and anything else with a summit worth conquering. "Cats in my neighborhood were never stuck in trees�they were afraid to go near them," because of me (so they say). I believe that sounds a bit like an exaggeration, which in my opinion should be dismissed as family folklore.
Within a few years, I was climbing trees for money. I had begun a lifelong journey as an individual whose entrepreneurial roots could, ironically, be traced to trees. I had discovered an income source around the holiday season each year�mistletoe. Mistletoe is a parasitic plant that grows on oak and other hardwood trees; if it is ingested by humans it will make them very sick, and can cause death. There are numerous myths and customs associated with mistletoe. However, the most important of these, relative to my enterprise, had to do with the tradition of kissing under the mistletoe (which derives from ancient beliefs about sexuality and fertility that are associated with the plant�which was of little interest to me as compared to comic books, at the time).
I harvested mistletoe by climbing trees in woods nearby my home, portioned off small bundles, and sold them door-to-door. I later expanded my product line with another agricultural product, kindling wood for starting fires. This product came from aged heart pine (stumps and limbs), which I often came across in my forays in the woods searching for mistletoe. It contains a sticky concentrated resin that can easily be ignited with a single match. If I was somehow rejected in my first effort aimed at selling mistletoe in a prospective customer's doorway, I could switch their attention to my "delightfully convenient and easy to use kindling wood�sure to warm your hearth, and your charming home."
As I matured, I became less interested in the business of mistletoe and kindling wood sales, and more interested in using charm and mistletoe for reasons associated with its traditional purposes around the holiday season. However, by then, I had already learned my first valuable lessons as an entrepreneur. I knew that entrepreneurship could be likened to climbing. The prize isn't just the tangible rewards, it's the feeling of achievement that one has from meeting challenges along the way, and reaching the top only leads to recognition that there are other summits to surmount in a lifelong journey.
Lessons Learned From a Former "Mistletoepreneur"
Nascent entrepreneurs are individuals who are trying to start a business, but are still new and fledgling in their efforts. My earlier business had one tremendous advantage: a product with no inherent cost other than the cost of harvesting and packaging the product, which was miniscule. The great California gold rush was similar in this regard: minors staked their claims and began to harvest a precious metal kindly provided by Mother Nature. If you are looking for a product, consider one that is free, or one that has a very low cost. Although there are now eBay and Internet sellers who offer products such as kindling and mistletoe, and the gold rush is long since over, there are other products that fit this no or low cost criteria, waiting to be claimed.
I like the idea of recycled products, as an example of a low cost product. Humankind continues to create tremendous pressure on the environment, and some individuals have found ways to harvest the things that others throw away. Whether we are speaking in an industrial context such as scrap materials that can be transformed or otherwise reconstituted, or a consumer context such as vintage clothing, entrepreneurs continue to prove that the adage, "One person's junk is another person's treasure," is true. For that matter, cleaning up messes and hauling things away can be a business unto itself. Now that eBay has created the world's largest garage sale, people have found that they can sell just about anything. However, some individuals do not have the time, interest, or technological proficiency to use eBay, and these persons offer a potentially rich and virtually endless source of products which you could acquire and sell (or sell on their behalf, for a fee).
You needn't give up your entrepreneurial ambitions based on the notion that you must have a low cost product. But do keep in mind that low product costs, and low startup costs are a definite advantage. At the very least, you must have an adequate profit margin, such that overall, you are self-sustaining. People must accept a product as something that they want and are willing to pay for.
Another alternative is to broker or represent a product, which I mentioned above. Among my various present day entrepreneurial endeavors, I am involved as an independent consultant for a network marketing firm. Customers purchase products through a Web site, and these products are shipped directly to them under what is known as a drop-shipping arrangement. This is really a very efficient system for all concerned, and I was convinced to become involved because I did not have to carry inventory or make deliveries (which can eat up an entrepreneur's time like crazy, besides increasing inefficiencies, which ultimately impact consumers).
You need to sell a hot product. If you have ever used kindling wood, you may have noticed that it crackles and burns very quickly, which is why it makes an excellent fire starter. You may initially think that I am about to tie in the aforementioned fire with "hot products," by using some sort of lame analogy. Lame analogies are always way too obvious, however. By "hot," I mean a product that is sold to a customer who is excited about the potential benefits of using the product, and who is overcome by a desire to have the product for his or her own use.
Have you ever noticed how some sellers go about creating a sense of urgency about a particular offering? While it can be observed that retailers have gone way overboard with "one day" sales by having one practically every day of the week, they at least have the sense of urgency concept down correctly. Every year for the past several years, millions of shoppers have been coaxed out of bed prior to the crack of dawn to shop at sales events offered on the basis of a similar appeal based on urgency, on the day after Thanksgiving.
The fact that someone is willing to compete to be the four-hundred-and-sixty-seventh person in line suggests a sense of urgency has indeed been created. I think that these retailers are rather dimwitted for acting with such a herd mentality and not offering a twelve o'clock noon until five o'clock p.m. door-buster sale for people like me, but that's another matter. Urgency comes when an offering is available for a limited time, when a product is in short supply, or an opportunity presents itself in such a way that buyers become convinced that they should otherwise seize the moment.
You need to sell, period. You will recall above that I acknowledged times when I had experienced rejection? Well, I hate to point this out, but we have all experienced rejection, especially those of us who take risks and are basically asking for it. Entrepreneurs suffer lots, and lots, of rejection. A majority of entrepreneurs must use bootstrapping methods to launch their business startups, typically because they have suffered rejection after submitting loan applications. Some people, will say "bah, humbug!" to just about anything. Some are penny-pinching, like Charles Dickens' character, Ebenezer Scrooge, and some people are simply not very nice.
However, it's been my experience that most people reject propositions that apparently offer no value to them. As an entrepreneur, you must offer genuine value. It is often the case that genuine value must be created, or at least pointed out. I inserted the word "apparently" above, because it is important. People need to be skeptical, as an act of survival, as nature does suggest instances where one can be tricked, and human nature is no different. The Venus Flytrap is a widely known example, as a carnivorous plant that lures prey with a sweet smelling attractant, and then captures them. No one wants to be tricked. On the other hand, ethical selling is not about attempting to trick anyone, either. People should legitimately need or want what you have to offer. If they do not, don't take it as a rejection. Instead, consider yourself as an individual who is on a journey seeking persons with wants and needs that you might possibly address, if your product is a good match.
You must sell the warmth, not the wood. Remember the mistletoe plant's description? It is a parasitic, poisonous plant that attaches itself to trees. What if I had represented it as such? What do you think would have happened if I had gone door-to-door exclaiming, "Hi. I would like to offer you a limited time opportunity to purchase one of the poisonous parasites that I've found in the woods"? Even though I did not really embrace all of the fuss about mistletoe and kissing as a young boy, I knew that older persons than myself and grown-ups were interested in this tradition, and bought mistletoe in the spirit of the season. The spirit of the season I refer to here is also one that is associated with warmth.
By the same token, the idea of buying a "bundle of sticky resin coated flammable wood" is not tremendously appealing, and I knew that would not sell, either. The benefits of the kindling wood had everything to do with the success of the proposition: people could envision having a warm and charming home.
Perhaps the most important lesson is that you can be an entrepreneur, too. It does not necessarily take a great deal of startup capital, equipment, or highly specialized knowledge to begin your journey. Everybody suffers rejection, and everybody makes mistakes. In your own, analogous way, you will "reach for a percolator," fall, and have to get back up. Nothing is certain or "bolted down" when you are an entrepreneur.
On the other hand, if you feel satisfied and secure in your present job, you are either very lucky, or perhaps you've been living under a rock for a while. Widespread job dissatisfaction (constituting a majority of employees), burn-out and stress, outsourcing, appointed leaders with poor visioning skills, questionable ethics, and a general lack of loyalty are earmarks of many modern organizations. Even CEO jobs are short-lived. According to a report by Drake Beam Morin (CEO Turnover and Job Security, 2000), "In just the past five years, close to two-thirds of all major companies replaced their CEO."
If you are employed by a public company, read the first few paragraphs in your annual report. You will probably find two clich� passages: "Our employees are our most important asset," and "We value diversity." If you are a female or a minority, turn to the photographs of the officers and the board of directors. If you see what appears to be a "club," with a membership profile that doesn't seem to fit the written claims, you might ask yourself if everything jibes. If it doesn't, and you do not think it's fair (I don't think it's fair either�that's why I teach, speak, and write spreading the message about entrepreneurial alternatives), you may want to start climbing a different ladder.
I (evidently) did not want to spend the rest of my life behind the bars of my crib. You don't have to stay trapped in your situation, whatever it may be. Go ahead�take baby steps if you need to, but know that you can change your life by beginning your own entrepreneurial journey. Start reading, learning, saving, talking with other people, and exploring ideas with profit potential and customer appeal, today. I'll look forward to seeing you at the top.
This article is free for republishing
Source: Article Alley, best for Free Interent Articles
Wednesday, 3 September 2008
Business Startup Why You Must Get It Right
A business startup is a risk but it always provides a new opportunity too. It has been seen often that startups companies that have their domain as 'new technology' comes out with huge returns. These companies are typically research driven and bring out something new that has a big demand, or comes out with a new way of doing something old. It is also often the case that these companies are owned by people who have been working as senior executives themselves, and so have adequate experience in running a show. So investing in a business startup offers a golden opportunity for venture capitalists (VC's) and bankers. But sadly, there are many who think twice before doing so, simply because the entity is a startup.
Business Startup and VC
Venture capitalists usually come in at two stages. In the first phase they come in when the new business just has an idea and nothing much. For a new business, financing is always a problem, and so if the VC is happy with the prospect of the new business proposal and what it has the potential to achieve, then it can finance the business startup. In the next phase in which the VC comes in is where the startup already has been in business for a few years and has a few Case Studies and Testimonials to show. In such a case the business startup needs the additional funding because it now needs to spread its wings and grow.
Business Startup ? Where Do We Come Across The Most?
The truth is, business startups can be found almost everywhere. It can be a restaurant or a boutique shop where a previous employee or a group of them come out and open their own business. Or it can be a new transport or a travel company where the new entrepreneurs think that they have adequate knowledge and experience and can sustain on their own.
But in technology and the Internet it has been seen that the number of startups are usually much more. And today IT startups are to be seen everywhere, the maximum number of them being in the Silicon Valley in California. Some of these business startups have been hugely successful and today have become big businesses themselves. Many of these companies have gone public and today have a large customer base with clients from across the world. Their example is inspiring others to come out and open their own startup ventures.
Business Startup and Failures
When it works it looks really great. But often it doesn't and this is what worries most people and makes them stay where they are and not go in for it themselves. In fact according to statistics, the failure rate of business startups is much higher. Startups' failing is one reason why the dotcom bubble burst at the end of the last century. So this is one reason new entrepreneurs should constantly worry about.
But that is no reason why they should not open business startups. After all, 'failures are the pillars of success'. If you have the confidence and have a practical plan, then it is more likely that you will be successful.
--
James Copper is a writer for http://www.marketinglinx.com where you can find out about business startup
This article is free for republishing
Source: Article Alley, best for Internet Articles
Business Startup and VC
Venture capitalists usually come in at two stages. In the first phase they come in when the new business just has an idea and nothing much. For a new business, financing is always a problem, and so if the VC is happy with the prospect of the new business proposal and what it has the potential to achieve, then it can finance the business startup. In the next phase in which the VC comes in is where the startup already has been in business for a few years and has a few Case Studies and Testimonials to show. In such a case the business startup needs the additional funding because it now needs to spread its wings and grow.
Business Startup ? Where Do We Come Across The Most?
The truth is, business startups can be found almost everywhere. It can be a restaurant or a boutique shop where a previous employee or a group of them come out and open their own business. Or it can be a new transport or a travel company where the new entrepreneurs think that they have adequate knowledge and experience and can sustain on their own.
But in technology and the Internet it has been seen that the number of startups are usually much more. And today IT startups are to be seen everywhere, the maximum number of them being in the Silicon Valley in California. Some of these business startups have been hugely successful and today have become big businesses themselves. Many of these companies have gone public and today have a large customer base with clients from across the world. Their example is inspiring others to come out and open their own startup ventures.
Business Startup and Failures
When it works it looks really great. But often it doesn't and this is what worries most people and makes them stay where they are and not go in for it themselves. In fact according to statistics, the failure rate of business startups is much higher. Startups' failing is one reason why the dotcom bubble burst at the end of the last century. So this is one reason new entrepreneurs should constantly worry about.
But that is no reason why they should not open business startups. After all, 'failures are the pillars of success'. If you have the confidence and have a practical plan, then it is more likely that you will be successful.
--
James Copper is a writer for http://www.marketinglinx.com where you can find out about business startup
This article is free for republishing
Source: Article Alley, best for Internet Articles
Wednesday, 20 August 2008
Starting your Business up with the right Finance
When it comes to business finance the saying ‘it takes money to make money’ fits right in; you need business finance in order to get your business started, for it to operate, expand and grow.
There are a range of options open to you when it comes to gaining the right business finance for your company but you need to choose the one that is right for your business. To do this you should look at all of the advantages and disadvantages of each of the financing options that are open to you. Some examples of these financing options are as follows:
Short term sources of finance:
• Bank overdraft
• Trade Credit
• Leasing
• Bank loans
• Credit cards
Long term sources of finance:
• Bank loans
• Share capital
• Debentures
• Asset sales
• Venture capital
• Government, local authority or EU grants
Every business, especially at the start-up stage will need some form of finance. There is a lot that needs to be spent before your business even starts to make money. Below are just a few examples of some of aspects that you will need to spend money on when it comes to your business start-up:
• Purchase capital items (fixed assets) e.g., plant, equipment, land or buildings, motor vehicles;
• Increase holdings of trading stock and supplies;
• Fund research and development;
• Expand distribution or develop new markets.
On top of this you will have the property costs, including bills and your staff wages to cover. Once your business starts to make money these aspects will be covered by the profit that your business is making but until then you will have to rely on the money that you will have gained for your start-up costs.
When you are in the process of gaining your business finance it is important that you have an accurate idea of your financial needs. In order to do this you need to calculate the amount you need to cover your initial start-up costs as well as this you have to take into account you’re running costs and expenses. This is due to the fact that for a while you will be running your business without it making a profit but you still need to pay all of your bills as well as to keep trading. I would suggest that you have enough funds to cover at least six months of your business running.
One way in which you are able to secure the business finance that you need is through your business plan. Good planning will make it easier to raise the money that you need, which is why your business plan is important. Your plan will detail and outline what the money is needed for, exactly where the money is going to be spent and how this will benefit your business as well as demonstrating how the money will be repaid. Your business plan could make or break whether you receive the finance that you need.
If you are looking for business finance at the moment make sure that you approach the avenue that is most suited to you and that you have took into account the advantages and disadvantages of the finance you are after.
Helen is the web master of Angel Start-Ups, specialists in all aspects of Business Finance.
There are a range of options open to you when it comes to gaining the right business finance for your company but you need to choose the one that is right for your business. To do this you should look at all of the advantages and disadvantages of each of the financing options that are open to you. Some examples of these financing options are as follows:
Short term sources of finance:
• Bank overdraft
• Trade Credit
• Leasing
• Bank loans
• Credit cards
Long term sources of finance:
• Bank loans
• Share capital
• Debentures
• Asset sales
• Venture capital
• Government, local authority or EU grants
Every business, especially at the start-up stage will need some form of finance. There is a lot that needs to be spent before your business even starts to make money. Below are just a few examples of some of aspects that you will need to spend money on when it comes to your business start-up:
• Purchase capital items (fixed assets) e.g., plant, equipment, land or buildings, motor vehicles;
• Increase holdings of trading stock and supplies;
• Fund research and development;
• Expand distribution or develop new markets.
On top of this you will have the property costs, including bills and your staff wages to cover. Once your business starts to make money these aspects will be covered by the profit that your business is making but until then you will have to rely on the money that you will have gained for your start-up costs.
When you are in the process of gaining your business finance it is important that you have an accurate idea of your financial needs. In order to do this you need to calculate the amount you need to cover your initial start-up costs as well as this you have to take into account you’re running costs and expenses. This is due to the fact that for a while you will be running your business without it making a profit but you still need to pay all of your bills as well as to keep trading. I would suggest that you have enough funds to cover at least six months of your business running.
One way in which you are able to secure the business finance that you need is through your business plan. Good planning will make it easier to raise the money that you need, which is why your business plan is important. Your plan will detail and outline what the money is needed for, exactly where the money is going to be spent and how this will benefit your business as well as demonstrating how the money will be repaid. Your business plan could make or break whether you receive the finance that you need.
If you are looking for business finance at the moment make sure that you approach the avenue that is most suited to you and that you have took into account the advantages and disadvantages of the finance you are after.
Helen is the web master of Angel Start-Ups, specialists in all aspects of Business Finance.
Starting your Business up with the right Finance
When it comes to business finance the saying ‘it takes money to make money’ fits right in; you need business finance in order to get your business started, for it to operate, expand and grow.
There are a range of options open to you when it comes to gaining the right business finance for your company but you need to choose the one that is right for your business. To do this you should look at all of the advantages and disadvantages of each of the financing options that are open to you. Some examples of these financing options are as follows:
Short term sources of finance:
• Bank overdraft
• Trade Credit
• Leasing
• Bank loans
• Credit cards
Long term sources of finance:
• Bank loans
• Share capital
• Debentures
• Asset sales
• Venture capital
• Government, local authority or EU grants
Every business, especially at the start-up stage will need some form of finance. There is a lot that needs to be spent before your business even starts to make money. Below are just a few examples of some of aspects that you will need to spend money on when it comes to your business start-up:
• Purchase capital items (fixed assets) e.g., plant, equipment, land or buildings, motor vehicles;
• Increase holdings of trading stock and supplies;
• Fund research and development;
• Expand distribution or develop new markets.
On top of this you will have the property costs, including bills and your staff wages to cover. Once your business starts to make money these aspects will be covered by the profit that your business is making but until then you will have to rely on the money that you will have gained for your start-up costs.
When you are in the process of gaining your business finance it is important that you have an accurate idea of your financial needs. In order to do this you need to calculate the amount you need to cover your initial start-up costs as well as this you have to take into account you’re running costs and expenses. This is due to the fact that for a while you will be running your business without it making a profit but you still need to pay all of your bills as well as to keep trading. I would suggest that you have enough funds to cover at least six months of your business running.
One way in which you are able to secure the business finance that you need is through your business plan. Good planning will make it easier to raise the money that you need, which is why your business plan is important. Your plan will detail and outline what the money is needed for, exactly where the money is going to be spent and how this will benefit your business as well as demonstrating how the money will be repaid. Your business plan could make or break whether you receive the finance that you need.
If you are looking for business finance at the moment make sure that you approach the avenue that is most suited to you and that you have took into account the advantages and disadvantages of the finance you are after.
Helen is the web master of Angel Start-Ups, specialists in all aspects of Business Finance.
There are a range of options open to you when it comes to gaining the right business finance for your company but you need to choose the one that is right for your business. To do this you should look at all of the advantages and disadvantages of each of the financing options that are open to you. Some examples of these financing options are as follows:
Short term sources of finance:
• Bank overdraft
• Trade Credit
• Leasing
• Bank loans
• Credit cards
Long term sources of finance:
• Bank loans
• Share capital
• Debentures
• Asset sales
• Venture capital
• Government, local authority or EU grants
Every business, especially at the start-up stage will need some form of finance. There is a lot that needs to be spent before your business even starts to make money. Below are just a few examples of some of aspects that you will need to spend money on when it comes to your business start-up:
• Purchase capital items (fixed assets) e.g., plant, equipment, land or buildings, motor vehicles;
• Increase holdings of trading stock and supplies;
• Fund research and development;
• Expand distribution or develop new markets.
On top of this you will have the property costs, including bills and your staff wages to cover. Once your business starts to make money these aspects will be covered by the profit that your business is making but until then you will have to rely on the money that you will have gained for your start-up costs.
When you are in the process of gaining your business finance it is important that you have an accurate idea of your financial needs. In order to do this you need to calculate the amount you need to cover your initial start-up costs as well as this you have to take into account you’re running costs and expenses. This is due to the fact that for a while you will be running your business without it making a profit but you still need to pay all of your bills as well as to keep trading. I would suggest that you have enough funds to cover at least six months of your business running.
One way in which you are able to secure the business finance that you need is through your business plan. Good planning will make it easier to raise the money that you need, which is why your business plan is important. Your plan will detail and outline what the money is needed for, exactly where the money is going to be spent and how this will benefit your business as well as demonstrating how the money will be repaid. Your business plan could make or break whether you receive the finance that you need.
If you are looking for business finance at the moment make sure that you approach the avenue that is most suited to you and that you have took into account the advantages and disadvantages of the finance you are after.
Helen is the web master of Angel Start-Ups, specialists in all aspects of Business Finance.
Obtaining extra Business Finance – Business Grants
In business we all sometimes need that extra little bit of cash to get certain business ideas off the ground. There are many ways in which you are able to gain extra business finance such as loans, overdrafts, credit cards or through private investors such as business angels; however what do all of these have in common? They all have to be repaid in one form or another but with a business grant it’s another story.
Business grants are a sum of money that is awarded to your company for a very specific purpose or project. This money means that you can undertake the changes that you want to make to your business without having any debts at the end of it; sounds too good to be true? Well let me assure you this is completely genuine but like all things that seem too good to be true there are a few catches. You are only awarded between 15% and 50% of the total money that you need to carry out your project; the rest of the money needed has to come from you. The percentage of the total cost that you will be awarded depends on how much money you need for your purpose or project.
There are many ways in which you can obtain a grant some of the main ones are as follows:
• The government
• The European Union
• Regional Development Agencies in England, Scottish Enterprise, the Welsh Development Agency and Invest Northern Ireland
• Local authorities or local councils and local development agencies
• Chambers of Commerce
• County Enterprise Boards
The main type of business grants that are available are government grants and the reason that they came about was as a way of encouraging entrepreneurialism and innovation, which will translate into opening up more jobs within the business and adding value to the business, which is done mainly through the businesses profits.
Some of the reasons as to why you may be awarded a grant are for the purchasing of machinery, to improve office conditions, increase employment and developing export markets. Everything that it will be awarded for comes down to the idea of helping you to develop your business.
To be in with a chance of receiving a business grant you need to make sure that you meet the conditions set out by the grant. These conditions are that you have to have the rest of the money for your specific project or purpose ready and the project can’t have already been started. These are strict terms and conditions that apply to all grants. If these aren't followed, immediate repayment of the grant can be required. However, generally you do not have to repay grants or interest on them unless you break the conditions.
Applying for grants can be time-consuming. You will generally be required to submit your business plan, as well as completing the specific paperwork for the scheme. Once your application has been made it will enter the reviewing stage where your application and proposal will be assessed using the following criteria:
• Significance
• Approach
• Innovation
• Their assessment of your expertise
• Need for the grant
There aren’t many grants available, which means that competition for them is high so if you aren’t successful this time then I advise you to take on board the reasons as to why your application was turned down so that you can work on these points and apply again.
Helen is the web master of Angel Start-Ups, who are experts in all aspects of Business Finance, which includes Business Grants.
Business grants are a sum of money that is awarded to your company for a very specific purpose or project. This money means that you can undertake the changes that you want to make to your business without having any debts at the end of it; sounds too good to be true? Well let me assure you this is completely genuine but like all things that seem too good to be true there are a few catches. You are only awarded between 15% and 50% of the total money that you need to carry out your project; the rest of the money needed has to come from you. The percentage of the total cost that you will be awarded depends on how much money you need for your purpose or project.
There are many ways in which you can obtain a grant some of the main ones are as follows:
• The government
• The European Union
• Regional Development Agencies in England, Scottish Enterprise, the Welsh Development Agency and Invest Northern Ireland
• Local authorities or local councils and local development agencies
• Chambers of Commerce
• County Enterprise Boards
The main type of business grants that are available are government grants and the reason that they came about was as a way of encouraging entrepreneurialism and innovation, which will translate into opening up more jobs within the business and adding value to the business, which is done mainly through the businesses profits.
Some of the reasons as to why you may be awarded a grant are for the purchasing of machinery, to improve office conditions, increase employment and developing export markets. Everything that it will be awarded for comes down to the idea of helping you to develop your business.
To be in with a chance of receiving a business grant you need to make sure that you meet the conditions set out by the grant. These conditions are that you have to have the rest of the money for your specific project or purpose ready and the project can’t have already been started. These are strict terms and conditions that apply to all grants. If these aren't followed, immediate repayment of the grant can be required. However, generally you do not have to repay grants or interest on them unless you break the conditions.
Applying for grants can be time-consuming. You will generally be required to submit your business plan, as well as completing the specific paperwork for the scheme. Once your application has been made it will enter the reviewing stage where your application and proposal will be assessed using the following criteria:
• Significance
• Approach
• Innovation
• Their assessment of your expertise
• Need for the grant
There aren’t many grants available, which means that competition for them is high so if you aren’t successful this time then I advise you to take on board the reasons as to why your application was turned down so that you can work on these points and apply again.
Helen is the web master of Angel Start-Ups, who are experts in all aspects of Business Finance, which includes Business Grants.
Are you in need of Private Investment for your Business?
Private investments come from private investors, who are more commonly known as, for example, business angels or venture capitalists. They provide equity funding for business opportunities and are a common source of funding for early stage and start up businesses.
If you are hoping to gain the help of a private investor there are certain aspects that need to be taken into account; firstly your business plan is reviewed and the services that you want for your business are discussed with the investor, who then go onto meet the management team of your company.
A private investor is concerned with the success of your business and will do everything possible in order to make your business grow and succeed. Due to this there is a lot of contact between the investor and your company.
Private Investors are professionals who have expertise in a certain field. Although investors are willing to invest across all areas of business and usually at any stage of business it is best to try and enlist the help of a private investor who has experience, industry knowledge and industry contacts within the business sector that your company is based in. This way your business is being presented with the best possible chance of success. Also it is best to gain the help and knowledge of a private investor who is local to where your business is based. The reason for this is because private investors prefer to invest close to their homes. So if you are looking to enlist the help of a private investor you may want to think about attending local industry conferences, networking associations, or chambers of commerce as a way of finding a private investor who is perfect for your business.
A Private Investor will help your new business reach success by giving you a great source of start-up business capital in return for an equity stake within your business. Private Investors take a risk on your behalf and invest in all types of new businesses, so whether you are going into interior design, art and photography, contracting, catering or opening a new day care centre, there is a private investor who will be able to help you.
Businesses that show promise of success attract Private Investors, as do businesses that Private Investors find of interest. Private investors are also interested in knowing specifically what their money is going to be used for. So if you are hoping to gain a private investor for your business you need to decide on the amount of money that your business needs. This number should be a calculated number and not just an estimate.
So who exactly are these Private Investors? Well the vast majority are generally wealthy individuals; Private Investors are exceptionally successful entrepreneurs, meaning not only can a Private Investor offer a new business start-up capital; they also offer the business their expert advice and outstanding management skills.
If you want to enlist the help of a private investor then look around the Internet; you are bound to find an investor who is perfect for your company.
Helen is the web master of Angel Start-Ups, providing you with all aspects of Private Investors, including Business Angels and Venture Capitalists.
If you are hoping to gain the help of a private investor there are certain aspects that need to be taken into account; firstly your business plan is reviewed and the services that you want for your business are discussed with the investor, who then go onto meet the management team of your company.
A private investor is concerned with the success of your business and will do everything possible in order to make your business grow and succeed. Due to this there is a lot of contact between the investor and your company.
Private Investors are professionals who have expertise in a certain field. Although investors are willing to invest across all areas of business and usually at any stage of business it is best to try and enlist the help of a private investor who has experience, industry knowledge and industry contacts within the business sector that your company is based in. This way your business is being presented with the best possible chance of success. Also it is best to gain the help and knowledge of a private investor who is local to where your business is based. The reason for this is because private investors prefer to invest close to their homes. So if you are looking to enlist the help of a private investor you may want to think about attending local industry conferences, networking associations, or chambers of commerce as a way of finding a private investor who is perfect for your business.
A Private Investor will help your new business reach success by giving you a great source of start-up business capital in return for an equity stake within your business. Private Investors take a risk on your behalf and invest in all types of new businesses, so whether you are going into interior design, art and photography, contracting, catering or opening a new day care centre, there is a private investor who will be able to help you.
Businesses that show promise of success attract Private Investors, as do businesses that Private Investors find of interest. Private investors are also interested in knowing specifically what their money is going to be used for. So if you are hoping to gain a private investor for your business you need to decide on the amount of money that your business needs. This number should be a calculated number and not just an estimate.
So who exactly are these Private Investors? Well the vast majority are generally wealthy individuals; Private Investors are exceptionally successful entrepreneurs, meaning not only can a Private Investor offer a new business start-up capital; they also offer the business their expert advice and outstanding management skills.
If you want to enlist the help of a private investor then look around the Internet; you are bound to find an investor who is perfect for your company.
Helen is the web master of Angel Start-Ups, providing you with all aspects of Private Investors, including Business Angels and Venture Capitalists.
Are you planning on starting up within Business?
Going through with starting a new business is both exciting and rewarding as well as being full of challenges. It requires your full commitment, drive and perseverance. All of these qualities will go a long way to transforming your business idea into a reality, which is especially important during the early days of your business.
There are certain qualities that are commonly found in successful business people such as self confidence; you must have belief in yourself and passion about what your business is about as well as what it offers. You also need enthusiasm, which will win people over with your ideas.
Self determination is another quality that is essential with business. You need to have a belief that the outcome of events are down to your own actions. The success of your business will partly depend on your skills and attitude. This involves being honest about a range of issues, including your knowledge, your financial status and the personal qualities that you can bring to your new business.
Two other examples of personal qualities that are essential to new business owners are commitment, which includes the willingness to make personal sacrifices through long hours, which leads to a loss of leisure time. As well as commitment you also need perseverance, which in business is the ability to continue despite suffering setbacks, financial insecurity and exposure to risk.
When you are setting up a new business there are several aspects that need to be taken into account such as the sales and marketing of your business. This is crucial to the success of your business. You need a marketing strategy, which will help you identify potential customers and target them.
It is essential that you have the right reasons for wanting to start and run your own business as there are no secret tricks to making a business successful; it comes down to pure hard work. Most businesses also emerge from a hobby, which is fine as long as it can make you money.
Once you have got your business idea together and you have decided on your business name you need to identify your target market. You need to ensure that you fully understand who your customers are and why they would consider spending their hard earned cash with you. You need to understand what unique qualities you and your business provide are better than those of your competition. This is commonly referred in general business terms as your USP or Unique Selling Point.
One aspect of business that many people often overlook is any aspects of law that may affect their business. There are actually four definite acts of law that will affect any business hoping to make a trade; these acts of law are as follows:
• Consumer Protection Act 1987
• Trade Description Acts 1968 and 1972
• Sale of Goods Act 1979
• Health and Safety at Work Act 1974
Some points that these various acts make are that the products and goods that your business sells must be fit for their purpose and if they are faulty customers are entitled to a full refund or a full repair of the product. The goods or products that you sell must also live up to any claims that you make about them as it is a criminal offence to make a false claim. As well as this the goods or products must meet certain safety standards because if a product is faulty and causes injury then a claim can be made against you.
As long as you thoroughly research and plan the start up of your business I’m sure you will do fine and if at any point you do get stuck there is help available; on the Internet there are countless sites offering you help and advice so remember you are never alone in this.
Helen is the web master of Angel Start-Ups, specialists in all aspects of Business Start-up.
There are certain qualities that are commonly found in successful business people such as self confidence; you must have belief in yourself and passion about what your business is about as well as what it offers. You also need enthusiasm, which will win people over with your ideas.
Self determination is another quality that is essential with business. You need to have a belief that the outcome of events are down to your own actions. The success of your business will partly depend on your skills and attitude. This involves being honest about a range of issues, including your knowledge, your financial status and the personal qualities that you can bring to your new business.
Two other examples of personal qualities that are essential to new business owners are commitment, which includes the willingness to make personal sacrifices through long hours, which leads to a loss of leisure time. As well as commitment you also need perseverance, which in business is the ability to continue despite suffering setbacks, financial insecurity and exposure to risk.
When you are setting up a new business there are several aspects that need to be taken into account such as the sales and marketing of your business. This is crucial to the success of your business. You need a marketing strategy, which will help you identify potential customers and target them.
It is essential that you have the right reasons for wanting to start and run your own business as there are no secret tricks to making a business successful; it comes down to pure hard work. Most businesses also emerge from a hobby, which is fine as long as it can make you money.
Once you have got your business idea together and you have decided on your business name you need to identify your target market. You need to ensure that you fully understand who your customers are and why they would consider spending their hard earned cash with you. You need to understand what unique qualities you and your business provide are better than those of your competition. This is commonly referred in general business terms as your USP or Unique Selling Point.
One aspect of business that many people often overlook is any aspects of law that may affect their business. There are actually four definite acts of law that will affect any business hoping to make a trade; these acts of law are as follows:
• Consumer Protection Act 1987
• Trade Description Acts 1968 and 1972
• Sale of Goods Act 1979
• Health and Safety at Work Act 1974
Some points that these various acts make are that the products and goods that your business sells must be fit for their purpose and if they are faulty customers are entitled to a full refund or a full repair of the product. The goods or products that you sell must also live up to any claims that you make about them as it is a criminal offence to make a false claim. As well as this the goods or products must meet certain safety standards because if a product is faulty and causes injury then a claim can be made against you.
As long as you thoroughly research and plan the start up of your business I’m sure you will do fine and if at any point you do get stuck there is help available; on the Internet there are countless sites offering you help and advice so remember you are never alone in this.
Helen is the web master of Angel Start-Ups, specialists in all aspects of Business Start-up.
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