by theEmother | Sep 14, 2012 | build a Mother of a Business, business ideas & thinking, Finish Unfinished Business, so you think you're in business, the business model
It’s all about the Business Model… as it always is…
“’How?’ is not just a question. HOW is the answer.
HOW. We’ll see that word a lot in this manifesto. Simply stated, HOW is the belief that in our more interconnected and interdependent world, we rise and fall together. The way to forge a better, more sustainable path of growth and progress lies in the realm of human behavior—HOW we do what we do. The days of “It’s not personal; it’s just business” are over. We truly have entered the Era of Behavior.
Leaders have become successful at measuring “how much” by out-selling and out-spending. But instead of asking “how much”, we should be examining HOW. How we behave, lead, consume, build trust in our relationships, and relate to others has always mattered but in an age when everything can be tweeted and blogged about and where there is no such thing as private behavior, HOW matters more than ever and in ways it never has before.”
By Dov Seidman for ChangeThis.com
by theEmother | Aug 17, 2012 | build a Mother of a Business, business ideas & thinking, entrepreneur trends (past & present!), entrepreneurial mothers, Finish Unfinished Business, SELL your Mother of a Business, women in business case studies
Picture this… you’ve been running your home-based business for 16 years when you decide in 2007 that it could be a successful model for other entrepreneur mothers to follow.
After extensive planning and roughly $65,000 in consulting and legal fees, you sell your first franchise that year.
Within three months, it had failed.
Now what???
This is the basis of one entrepreneurial mothers true story. To read what happened, and how she turned it around, click here. Enjoy!
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 | Apr 29, 2012 | build a Mother of a Business, business ideas & thinking, entrepreneur trends (past & present!), Online Strategy incl. www, so you think you're in business
Exactly as predicted by e-gurus 15 years ago, e-commerce is hotter than ever. Whether in mature markets, where consumer spending is shifting online, or in growth markets where rapid urbanization and increasing (mobile) internet penetration are unlocking new shopping habits, shoppers are ‘e-commercing’ it up.
Some obligatory stats:
- US e-commerce sales will grow 62% by 2016, to USD 327 billion (Source: Forrester, February 2012).
- European e-commerce sales will grow by 78% by 2016, to USD 230 billion (Source: Forrester, February 2012).
- Brazilian e-commerce sales will grow 21.9% in 2012 to USD 18.7 billion (Source: eMarketer, January 2012).
- Chinese e-commerce sales were CNY 780 billion (USD 124 billion) in 2011, an increase of 66% from 2010. E-commerce is expected to rise from 3% of consumption to 7% by 2015 (Source: IDC, March 2012).
- India’s e-commerce market is expected to grow to USD 70 billion by 2020, from just USD 600 million in 2011 (Source: Technopak Advisors, February 2012).
- Indonesian e-commerce sales are forecast to grow from USD 120 million in 2010 to USD 650 million by 2015 (Source: Frost & Sullivan, February 2012).
Now, consumers’ current ‘online’ experiences are of course fundamentally different to those during the early dotcom boom: e-commerce is no longer just about choice, price, convenience, reviews and ratings, but also about everything that consumers look for in any purchase: status, the right product and a compelling experience.
So, time to learn about and profit from the latest innovations that are transforming e-commerce, and ultimately, reshaping shopping behavior. Both on and offline. Click here to do so…
Source: www.trendwatching.com. One of the world’s leading trend firms, trendwatching.com sends out its free, monthly Trend Briefings to more than 160,000 subscribers worldwide.
by theEmother | Apr 23, 2012 | build a Mother of a Business, so you think you're in business
The Apollo Bay Music Festival seems to reinvent itself every year, and this year was no exception. Whilst I could spend time discussing the pros and cons of such a move, the 2 key “Follow the Money” lessons revealed to me were far more pedestrian than that. To explain…
1. A talented, young, dread-locked, guitar-playing busker was doing his thing in the main street. He had captured the attention of a few of the dawdlers, us included. As it happened, the crowd was slowly but surely building. It started to rain. He was under shelter, as were his listeners. All were morphing into a very nice little groove. And then he announced it was his last song, and stopped. Just like that.
The lesson:
When you have a captured audience, don’t stop playing.
If, how you make your money is what is thrown in your hat sitting out front, then don’t stop playing; at least not until the rain stops. Nobody was moving around, so its not like the replacement or the organisers were hot on the tail…
2. After experiencing a fabulous midnight musical collaboratory treat, the following day, the crowd were hungry to keep it alive and purchase their memento to take home. When I was in the Merchandise tent around 3pm, there seemed to be some confusion. The showbag, together with the CD, badge and sticker were not being sold as expressed the night before. Oh oohhh, how many had been asking and not being able to purchase?
The lesson:
Always ensure the money trail is locked and loaded before playing!
I know for many artists, “it’s not about the money man”. But you know what, at a festival like this one, it is. With this festival being one of the few that do NOT take a cut of the purchases, that’s more in the musicians pocket. To leave many sales flagging is just not kosher, and is certainly not smart business.
It doesn’t matter what business you’re in, always follow the money to ensure that it is flowing into your pocket, where it should be, and not leaking into the ether…
