by theEmother | Jul 20, 2012 | build a Mother of a Business, business ideas & thinking, entrepreneur trends (past & present!), political offerings, so you think you're in business
“All across the land trouble is brewing, as tax revenues continue to shrink and The Great Recession slogs on. … Almost every state has reduced educational funds and numerous school districts are being forced to lay off teachers, reduce bus services and eliminate curriculum. Colleges and universities, public hospitals, law enforcement organizations and public transportation agencies are struggling to find additional revenues. Roads and bridges can no longer be maintained with public funds.
Relief won’t come quickly or easily, but one thing is crystal clear: government must reach out to private sector partners for innovative solutions.”
Are you ready? Can you start facilitating such a discussion starting… now?
By Mary Scott Nabers for ChangeThis.com
by theEmother | Jul 13, 2012 | build a Mother of a Business, business ideas & thinking, EXIT execution, Finish Unfinished Business, Listen, Podcast, SELL your Mother of a Business, so you think you're in business, start with the end in mind
Podcast: Denise Hall talking Starting vs Buying a Business – businesssuccessradio.com.au by Denise Hall on Mixcloud
I know. The idea of owning your own business is becoming a more attractive and popular option for a lot of Australian women.
The idea of setting your own hours, having unlimited income potential and working in an area you are passionate about to bring value to the marketplace is an appealing alternative to an office environment, for a lot of individuals. Women are driven and great at multi-tasking, all great skills for a potential business owner.
Statistically speaking though, most businesses fail within the first two years. Although there are many reasons why this is the case, a few common denominators exist around the initial set up and structure of the business. It’s not enough to have a good idea. Or, to even be good at what you do. This alone doesn’t necessarily translate to success at owning and managing your own business.
Getting your business off and running takes a little capital and a solid plan of action. Researching your potential market along with establishing the legalities can be a headache in and of itself. Once you make a start, seeking expert advice, joining a trade association, and networking with your local chamber of commerce can be helpful launching steps.
In order to increase your potential success rate, you might consider some alternative options to starting a business from scratch. Franchises, Direct Sales, or purchasing an already existing business are viable options with a little less risk, or at least a different risk, involved.
Franchises:
You can find information about starting a franchise in Australia at www.franchisebusiness.com.au. You might be surprised at some of the great opportunities you will find. There are hundreds of franchises to choose from in many different arenas. The benefits of a franchise are that there is already name recognition in the marketplace along with a proven track record and system for success. The downside can be the amount of capital necessary to get a franchise on its feet. Also, it might take a while before you realise the profits you are after. Depending on the franchise, expect at least two years before you see a true return on your investment.
Direct Sales:
For all of the reasons entrepreneurial women like to own their own businesses, network marketing, or direct sales, can be a great option. Start-up costs are typically very low and you have the benefit of setting your own pace for your business. Oftentimes, you can build it with discretionary time as you continue in your normal job. This provides more stability and less risk to the woman who is after more financial stability for her family. The downside to a business like this is that you must be highly self-motivated. All of the good products in the world won’t sell themselves if you are unwilling to get out there and push them. Also, many people avoid this type of business because you typically need to start up with friends and family or someone in your close network. You can check out the Australian Direct Selling Association’s website for lists of reputable companies and information about direct sales.
Buying an Existing Business:
This option is really great if you know what type of business you are passionate about, have some capital, and would like to have an already established client base or revenue stream. The potential to grow it or expand to new areas is appealing. The downside is that you might inherit existing problems with personnel, debt, or organisational structure. You also lose the chance to start from scratch and establish your own vision and mission. However, these can be developed over time as you implement changes. The Australian government lists some other things to consider on their website before purchasing an already existing business.
All in all, women have what it takes to be successful in business. Eliminating all risk is unavoidable but if you are driven and passionate about your product, it might be worth the plunge.
Kayla Wilson, Editor of creditcarecompare.com.au
The Credit Letter Blog is dedicated to giving individuals financial advice in every area of life from credit cards to business and family.
by theEmother | Jul 6, 2012 | build a Mother of a Business, business ideas & thinking, EXIT execution, Finish Unfinished Business, so you think you're in business
How often have you asked about the success (or not!) of your Advisor in respect to what they’re advising you on?
A gem from my MDE colleague, Medine Simmons. Whilst she is talking about her proven speciality of Property Investing, the same applies to Exit Strategy and all things Starting with the End in Mind…
When I ask for advice there is an assumption or expectation that my advisor knows what they are doing.If I go to the doctor I expect they have the qualifications and experience to advise me on my health. And if they don’t they will refer me to a specialist. It is common place to ask “Have you dealt with this before? Should I see a specialist?”If I talk to someone about an investment I expect the same – that they will have the necessary qualifications and experience.
So why don’t we ask “What is your net worth and what have you invested in?” before we take their advice?
Is it too embarrassing?
I have just read this month’s property investment magazines and there was an article on choosing your advisor.
They suggested to ask questions about their qualifications, their reports and what products they suggest.
But they never suggest to ask whether your advisor has been successful in what they are advising??
We all know that in investing you learn a lot by doing, and particularly in property investing, doing it over the long haul.
It seems everyone is quoted as an expert and they have extremely wide often opposing views.
I think asking the embarrassing question “what is your net worth and how did you make that money” is an essential question.
We shouldn’t be afraid to ask it! And definitely one worth asking when you next consider taking someone’s advice.
MFSimmons is a proudly referral only business.
Want to hear more? Upcoming Events:
1. One Property A Year Club Melbourne – Tuesday July 31 2012. A wonderful group of property investors focused on education and inspiration. You can check out what Peter Cook had to say about it on his web site (and while you’re there download a free white paper). If you’re keen to come along please call me 03 9012 9784.
2. One Property A Year Club SYDNEY – Thursday August 2 2012 Meet with a group of like minded investors who want to learn more and stay focused. Location: Sydney CBD. Call me on 03 9012 9784.
by theEmother | Jun 29, 2012 | business ideas & thinking, Finish Unfinished Business, so you think you're in business
For those of you ‘between opportunities’, Cindy Tonkin (the Consultants Consultant) has written an ebook, “ Stay Cheerful: 89 things to do between consulting assignments”.
It’s 10,492 words in 62 pages and includes many creative ideas to bring in business, develop your systems, and keep you cheerful!
It is free to download until 5th June.
by theEmother | Jun 22, 2012 | business ideas & thinking, Finish Unfinished Business, so you think you're in business
“It is undeniable that Facebook, the king of the social media hill, has accumulated a huge number of users who spend growing amounts of time on the site. Its growth and ability to attract a loyal and highly networked audience is to be admired.
For brands, however, it is far from the Holy Grail of marketing.
Facebook and other online social networks represent merely one channel out of many that marketers can tap to spark a powerful word of mouth wave. And when looked at in the context of the ‘total social’ opportunity, it is but one very small part of the overall picture and needs to be seen as such. And true to Naisbitt’s ‘high tech, high touch’ megatrend, the fact is that online social networking is no substitute for the power and impact of face-to-face communications.
Real world conversations—most of which take place face-to-face—are still the dominant mode of communication, and they are the most trusted and persuasive.”
By Ed Keller and Brad Fay for ChangeThis.com
by theEmother | Jun 15, 2012 | business ideas & thinking, MEinc
“The Shattering is the moment where everything familiar slips away. Our protective facades of familiarity spontaneously combust and we shun faith, deny comfort. We’re left voiceless regardless of our need to scream. We tread water in an ocean filled with every brilliant memory of what was only moments ago. Life has a cruel way of serving up The Shatterings, too. Nary a Google or Outlook Calendar would deign to accept the meeting and we’re left simply wondering
What. The F#!k. Happened?
Over the past seventeen months, I’ve become a student of that question. In the process, I’ve gone through even more Shatterings. And I’ve come to one invaluable realization: I’ve been asking the wrong question.
I shouldn’t concern myself with what happened. I should be asking, ‘What’s happening?’”
By Erika Napoletano for ChangeThis.com
