How To Start A Business

How To Start A Business
In this report, I will discuss what it takes to own your own business and what factors go into it. My overall dream some day is to own my own business and with this comes a great deal of responsibility. I will help you understand what you can to do to become a successful business owner.
Finding a consistent well paying job has been getting harder and harder in recent years. A number of new and great business opportunities are available to the public. These opportunities only cash in if you run a well rounded business plan. Anything from wholesaling vehicles to owning your own pizza parlor are great starts in business. Although, owning and operating a business is a great burden on a person, it can turn out to be very profitable.
While trying to choose a business to start up there are many different factors to think about. Staff is a big part of a business. In William Delaney book The 30 Most Common Problems in Management and How to Solve Them, he say with any business organization, jobs fall into two general categories, line functions and staff functions. Line functions have to do with the performance of a particular task or contract. Staff functions are support units such as accounting, personnel, legal, payroll, advertising, and quality assurance. The Line functions staff members are sometimes called the direct work because they deal directly related and charged to a client, contract, or customer. Staff functions are sometimes called indirect work because their charges come under overhead or general and administrative expenses. But what goes in to a good staff member? How do you know what staff members you will need in your business?
A cooperative person can do just about any job. Most jobs don?t require a genius mentality or creative talent. However, a job is a mix of repetitive routine, challenging problems, and sometimes exciting break-through. With all of these challenges their come failure at the job as well, which can lead to disciplinary action, arguments, transfers, dismissals, or legal actions. So are you ready to own your own business yet? Not quite! Some things you really need to remember.
Say goodbye to a reliable and predictable income. No job is 100% secure and there is a good argument that being in control of your income via your own small business is more secure than a job however it doesn?t feel like that, especially when you start out. You can have great months and bad months and the only constant is unpredictability. Many business owners don?t know that they will never make real money until they sell their business.
Unfortunately many business owners often don?t make much more than an average salary, even sometimes less. Many business owners don?t make a big windfall until they sell their business and often by the time they are making the sale they will be using the money for retirement. Although it is also true that the only way to become really wealthy, besides inheritance and lotto, is by starting your own business.
The reality is that only a small percentage of businesses make their owner really wealthy, the rest stumble along earning an average wage. Of course many of those owners earning an average wage love their lifestyle and only wok as hard as they want to. Running your own business has the greatest potential to make you rich and my never make you rich, but the important part, your own business is very likely to make you a happier person. This can be reached if you keep your goals simple and aim for lifestyle over riches.
Most of us want to live our lives to the fullest and do the best we can for ourselves, for those we love, and for society in general. This requires that we first decide what it is we want to do and next, what to do to reach out goal. Let us consider the necessary steps to establish your goals.
1. Write a career plan. A written plan may seem obvious, but most people don?t make one. Make a five-year plan and then work back to the present time. State what you want five years from now. Next, what do you want one year from now? Then try to determine what you want next week.
2. Review your plan at least once a year. No one can accurately predict what events will occur or how, but it is necessary to review and modify or update goals if necessary.
Don?t be afraid or embarrassed to ask for help. A written career plan is much like a navigation chart one draws before starting on a long boat trip. Adjustments are always necessary. It is good to have alternative goals in some order of priority if we find we are unable to reach our first-priority goal. Now that goals are set we need to start a business plan.

One of the biggest mistakes for young business owners can make is failing to write a business plan. There is on process that can be more useful in beginning a business problem-solving than addressing the risks and thoughtfully forecasting by writing the plan. Don?t fall into excuses that you have the business plan in your head. It only becomes a reality when you put it into writing because when it?s in your head, no one else can see it.
A business plan will showcase your product or service, how you plan to make a profit and the exceptional team who can bring the business to success. It should include market data and tests to show the service or product will sell, the essential skills that will profit, estimates for startup costs, projections for sales and profits, a break-even analysis and long term goals for the company. So now you have a business plan and long term goals, but you don?t know where to put your business. Do you buy a new place, work out of home, or buy another company? Let?s start with some benefits of each and try to decide.
Should you start your own business at home? Some pros and cons you should know.
1. Work in your PJ?s.
Pro: This is amazing sounding right? Getting up and doing your work in your PJ?s and slippers. Sounds good and sometimes it is good. Being able to work in clothes that are convenient is always a plus.
Con: The reality for many people is that your level of productivity is often influenced by how you are dressed. After awhile you will come to realize that you will have little less motivation from getting out and those PJ?s and exercising, showering and putting on clean clothes before starting work.
2. Flexible Schedule.
Pro: This is a major benefit. You can take time off whenever you wish. Doctor appointments? No problem.
Con: You need to make up the time somewhere. The work is still there and needs to be done. Balancing work and home can become quite challenging. You will need to think about how you will define the line between work and home life. And this isn?t as easy as you might think.
3. No More Nightmare Clients.
Pro: If a client is unreasonable or otherwise unattractive to deal with, you will have the decision power to say, Bye, bye!
Con: At the same time, you will never be free of difficult clients. In some circumstances you will be required to decide how to handle them.
Below are five examples of people you will have to deal with.
Freelancers: Your biggest client turns difficult with the addition of a new general manager. What do you do?
Writers: Your editor seems to have turned sour on your writing, finding fault all the time. How do you handle this?
Bloggers: How will you handle mean comments, blog hecklers, and the like? How will you handle a negative campaign against you?
Selling products: There can be shipping problems, returns, complaints, lawsuits and more. You?ll need to deal with all of these.
Inventors: If you produce your product, you?ll need to manage relationships with manufacturers, distributors, and marketing companies where you will face issues of trust, control, and quality. If you sell your idea, you will likely face tough negotiations if you want to get the most value for your invention.
These people bring us to our next point. Working outside the home, you will have to deal with them anyways then why not just open your business in the community?
Did you know there is big tax breaks to people who own their own business? The tax system heavily favors people willing to take risks by starting their own business. Just the fact that you have purchased the John Beck Amazing Profits tax lien and tax deed business helps you save on your taxes?consult with a local tax expert to personalize the deductions and maximize your tax savings through business ownership.
Other advantages to buying an existing business include:
You are your own boss
More tax effectiveness of family income
The potential financial security and if the business is an existing business
There are existing customers and contracts, existing suppliers, existing staff management and goodwill associated with the name and location of the business, plant and equipment, stock and materials, knowledge and information from the existing owner.
Premises and lease are already negotiated and the premises are generally fitted out
Financiers are more comfortable lending to an existing business because there is minimal time to cash flow the business and the business has a track record which can assist in obtaining the most appropriate finance from your requirements.
Disadvantages to buying an existing business include:
risk associated with business failure
customers may leave when a new operator takes over the business
staff may not remain with the new owner and critical staff need to be comfortable with the new owner
the equipment may be inefficient or obsolete requiring costs to make it effective
the business premises may be inappropriate or the lease terms may be non commercial
the business may be overpriced
material contracts may be lost with change in ownership
new competitors may emerge making the business marginal
major clients may, for any number of reasons, cease using the business,
longer working hours are generally associated with business ownership relative to employment
income can vary far more so than under an employment scenario
you have legal risk and exposures that you would not have had as an employee
There are significant risks in owning and operating your own business and it is a matter of assessing those risks.

How To Start A Business 6.9 of 10 on the basis of 1985 Review.