6 Business Ideas To Start

From Blogging to Drop Shipping .... Six Business Ideas to get you started ...

Why Entrepreneurs Should Plan For Failure, Not Success !

Image credit: Shutterstock

Starting three companies -- two of which didn’t take off the way I envisioned -- taught me that while entrepreneurs should dream big, it’s essential that we also plan for failure. More than 90 percent of startups fail.

And recognizing this right off the bat will prepare you intellectually, emotionally and financially, if your venture doesn’t succeed.

Planning for failure doesn’t make you negative or paranoid. It makes you smart. First, there's a huge difference between preparing for failure and thinking you’re going to fail. The latter is highly discouraging and curtails growth. The former, on the other hand, is about being practical and thoughtful about all of the possibilities that may occur. In some ways, it can even encourage entrepreneurs to progress because being prepared quells fear and prods you to keep going.

I always plan for worst-case scenarios, considering how they may affect my team, their lives and how to mitigate them. For example, I need to think ahead: What if we were to lose one of our largest clients? How would that impact our cash flow, company morale and what would my investors think of the company’s outlook? It’s difficult to think of these scenarios, but I believe it’s necessary to plan for it. In some cases, planning for failure helps me anticipate challenges so I can prevent them from happening.

Additionally, being honest with yourself and thinking about potential failure enables you to identify mistakes that you’re making in your business, so you can correct them more quickly along the way.

It helps you be more objective. Starting and running a business can be a very emotional experience. Your company is your "baby,” after all, and it’s something that you’ve poured a lot of heart and passion into. Forcing yourself to be prepared for the worst can help balance that out. How? Planning for failure or thinking of an exit strategy pushes you to be less “clingy” with your company. It forces you to look at the facts and unpleasant possibilities (no matter how difficult), thereby enabling you to be more analytical and objective.

Being a bit disassociated from your company also gives you more perspective because it allows you to look at it from the vantage point of your investors or customers. This, in turn, helps you generate ideas or even catch errors that you may have missed being too close to your business.

Toward the end of my first company's existence, my co-founder Andrew Waage and I forced ourselves to evaluate the business from a customer’s perspective, and we learned that the solutions we were building simply did not solve a problem that was big enough. We set our emotions aside and closed the business because when looking at the facts, we did not have a business. We would have not had the courage to face our failure so quickly if we didn't plan for it.

Recognizing that you might fail keeps you on your toes. Acknowledging the possibility of failure prevents you from being complacent. Knowing that at any point your venture could take a wrong turn keeps you from resting on your laurels, which means you strive harder and don’t let success lead to hubris.

Never became too self-satisfied. Remember it takes years to build a company and one simple mistake to bring it all back to nothing. Never lose sight of that. It's important to stay focused and hungry.

Planning for failure makes it easier to move on. Preparation can help soften the blow in the event that your company hits the rocks. Looking back, I don’t think I would have been able to move on quickly from my unsuccessful ventures if I hadn't prepared for the possibility of failure.

When my first startup didn't take off, Waage and I were prepared to deal with the circumstances. We had planned for it mentally, emotionally and financially, and decided we weren't going to take it personally, which was why it only took us two weeks to recharge and start our next venture.

No one wants to face the dreaded “F” word, but even the most successful entrepreneurs experience their share. It’s simply part of the game. And, who knows? It could even serve as the foundation for something far bigger and better. 

http://www.entrepreneur.com/article/233275

What To Do When You Have Too Many Ideas, And Not Enough Time

Image credit: Shutterstock

What do you do when you have too many ideas and not enough time? Or similarly, what about when you have too many tasks and not enough energy?

As an entrepreneur, I feel like I’ve been battling this issue for a while. There is always another opportunity to chase or a new product idea that sounds exciting. For a long time, I felt guilty about ignoring good ideas that came my way and so I kept adding more to my to-do list.

However, during a recent conversation with Travis Dommert, I learned about a new strategy for dealing with the issue of having too many ideas and projects.

It all comes down to treating your life like a rose bush.

Let me explain what Travis taught me…

Ideas are Like Rose Buds

As a rose bush grows it creates more buds than it can sustain. If you talk to an experienced gardener, they will tell you that rose bushes need to be pruned to bring out the best in both their appearance and their performance.

You see, a rose bush isn’t like a tree. It can’t grow wider and taller each year. And that means if you never trim away some of the buds, then the bush will eventually exhaust itself and die. There are only so many resources to go around. And if you really want a rose bush to flourish, then it needs to be trimmed down not just once, but each year. 

Ideas are like rose bushes: they need to be consistently pruned and trimmed down. And just like a rose bush, pruning away ideas — even if they have potential — allows the remaining ideas to fully blossom.

Just like the rose bush, we face constraints in our lives. We have a limited amount of energy and willpower to apply each day. It’s natural for new ideas and projects to come into our life — just like it’s natural for a rose bush to add new buds — but we have to prune things away before we exhaust ourselves.

In other words: new growth is natural and it’s normal for tasks and ideas to creep into your life, but full growth and optimal living requires pruning.

We All Need to Cut Good Branches

I like the rose bush analogy because it brings up something that is often lost in most conversations about productivity and simplicity: if you want to reach your full potential, you have to cut out ideas and tasks that are good, but not great.

In my experience, this is really hard to do.

If you’re building a business, maybe you have 3 product lines that are profitable. Your business might grow by 5x if you focus on all three, but which product line will grow by 500x if you put all of your energy into it?

If you’re training in the gym, there are all sorts of exercises that could make you stronger. But which two or three exercises will build a foundation of strength better than anything else?

If you’re thinking about the relationships in your life, there are dozens of people that you are connected to in some way. But which people bring energy into your life and which ones suck energy out of it?

Most rose buds could grow if they are given the chance. In other words, most buds are like a good idea: they have potential. But in order for the entire bush to flourish and live a healthy life, you have to choose the ones with the most potential and cut the rest.

The Bottom Line

Gardener and writer Elizabeth Roth says, “Roses that are left unpruned can become a tangled mess of old and new canes all competing for air and light.” 

We can say the same thing about our lives. A life left unpruned can become a twisted knot of ideas, tasks, and projects competing for your limited time and resources. If you don’t prune some of the branches from your life, the important ones will never flourish.

http://www.entrepreneur.com/article/234140

Writing A Business Plan : Ten Key Questions To Address

Most people over-complicate their business plan.  In this 9-minute video, Jason Nazar, Founder & CEO of Docstoc, talks you through the 10 key questions to address in your business plan ...

Want To Start An Online Business - What Are You Waiting For ?

Do you remember when you first heard of Ebay. Online auction place. Who thought back then it would end up being so big and so many people would be using this auction site. Most of us are aware that you can auction off just about anything on Ebay. People are making serious money selling products online at Ebay. It is also a great resource to find those hard to find items.

Have you checked into the many possibilities on the web to making some serious cash? There are so many ways to work from home and run your own business. You can buy products wholesale and setup your own internet store. If you do not want to stock items you can find companies that will drop ship your products for you. There are even programs you can buy online that are a complete system that shows you how to do this. Did you ever think you could get your own business up and running for roughly under $100 dollars?

You can make money selling ebooks, writing articles for websites, creating websites…

There are so many ways to make money on the internet today. It just takes a little research and then time on your part to really learn the best ways to promote your idea and become knowledgeable about all the different ways to advertise online.

Do you have what it takes to become an aspiring entrepreneur to start and manage a home based Internet Business? Do you have the Entrepreneur Bug?

Seems with the growth of the World Wide Web more people are becoming entrepreneurs. Just what is an Entrepreneur? There are many definitions the most simple is a person who owns, operates, and takes the risk of starting a business venture. An entrepreneur can also be known as an inventor.

Do you need to invent a product to be an ruthless entrepreneur? Absolutely not, just take an already existing product or idea and create a business and profit from it. Organize a business venture and assume the risks for it. Come up with your own niche to get clients, close deals and start making some serious money. What ever you decide to get involved with you should make sure you really know your product inside and out. What are you waiting for? Start brainstorming today and make your dream of being independently wealthy a reality.

http://plrplr.com/5317/online-business-work-from-home-entrepreneur/

Peter Jones - How We Made Our Millions

Dragons' Den star Peter Jones meets two of the country's most well-known and successful entrepreneurs to get into the DNA of what made them millionaires ....

The Health Benefits of Working From Home

Have you ever thought of working from home and how it would benefit you, not only mentally and financially, but physically as well? Do you find yourself eating an unhealthy diet, rarely finding the time to work out and not having much of a social or family life at all?

Often when you really look at the big picture, what looks like a rewarding, full-time career may actually be more “draining” than you think. At the end of the week, you sit back and realize … you have drained your gas tank, your body is dragging and your newly deposited paycheck was quickly applied to your car payment, your clothes bills, your lunches out every day and your childcare bill. Too tired to cook, you pick up your dry cleaning and your children and head to the nearest drive-thru. Does that sound like you?  Maybe it’s time to take a second look at working from home, and once you finally find the right business, you will be amazed at how much it could positively impact your health and your life.

Here are some great benefits:

Save time on commuting – The average work commute is approximately 30-45 minutes. Multiply that by two to get back home at the end of the day, and you have spent close to 10% of your day just on travel alone (over 5 weeks a year!).  Working from home allows you save all of this time. It can help you get a bit more sleep in the morning and have more time for yourself in the evening for activities and leisure.

Save money on transportation and clothing – Arguably, the biggest money-saving benefit from working at home is the transportation cost savings, with the clothing often not far behind — no suits, no dry cleaning, etc.If you work from home, you may not even need a car at all.  

Expenses are deductible – This can work for both employees or self-employed people. You may be able to deduct your Internet, phone, supplies and even the square footage that you use in your home as an office. This saves you some of the cost of those items previously all considered personal expenses.

More flexible schedule – When working from home, you are not under the same discipline as office workers, who need to be working from 9 to 5 every weekday. Chances are, your schedule at home will be much more flexible. If you have appointments or need to run errands, you don’t need to take time off from work to do so. It’s much easier to tie in your personal schedule with your work schedule when you work from home.

Less stress and anxiety – Do you know people that have had to take extended time off from work due to stress-related illnesses, burnouts, etc? An office can bring about a lot of competition, gossip and backstabbing among co-workers. This type of environment takes its toll after a while both mentally and physically. Working from home will save you these headaches.

Increased productivity – With all the time that you are saving from not having to commute to work and not socializing half the day with co-workers, most people find themselves being much more productive when working from home. As long as you remain motivated and driven, working from home can be much more effective for delivering results.

More work-life balance – A work-from-home position can have big payoffs when it comes to finding the eternal balance between having a career or simply bringing in extra money and nurturing a family. According to survey conducted by Staples Advantage, more than 80 percent of employees say they now have a better work-life balance because they work from home. Women entrepreneurs are also making strides, at one and a half times the national rate. Technology has levelled the playing field for women finally and we are seeing women transform when they start working from home. Their lives suddenly become much more balanced.

People who work from home are more satisfied with their sense of freedom and control. They structure their time so they’re able to work out regularly and take breaks throughout the day, and they’re more mindful of themselves and what they need to lead a healthy life. 

http://naturespathways.com/editions/south-central-wi-edition/archived-issues-scw/item/1625-the-health-benefits-from-working-at-home#.U56-jvldXeI

How To Make Money From Your Blog

While most bloggers start out writing their blogs simply because they are passionate about their subject matter and want to share their enthusiasm with others, once they discover how easy it is to start making money from blogging at the same time, they quickly adapt to monetizing their blog.

Blog monetization is actually quite easy, especially once you have attracted a large number of followers or have produced a lot of high-value content. It can be a double-edged sword, however, because if your readers start to suspect that you are only blogging for commercial purposes, they may be less likely to follow your blog.

Unless you are creating a blog for your business or organization, a better idea for personal blogs is to follow the 4:1 rule: For every blog that promotes products or services, provide your readers with four blog posts that are non-commercial and simply provide helpful information they can use in their everyday lives. This will make them much more receptive when you do ask them to buy something.

How to Promote Affiliate Products

Affiliate products are those that are promoted by you but are actually sold by somebody else. Whenever one of your readers follows a link and buys the actual product, you receive a percentage of the sale as a commission.

WordPress does not allow you to promote affiliate products if you are using the free service to host your blog, but if you have a self-hosted blog you can do anything you like, even if you use WordPress to create and maintain your blog.

Creating your own blog and monetizing it is not as hard as it may seem. There are many options for creating a blog and many ways to make money from it. A great way to build a free blog is on Blogger by Google. The blogging platform is simple to setup and easy to post in.

Another great free option is Blog.com. Get a free account and start blogging right away. The only problem with many of these free blogging options is that the money you could be making on your own blog is being siphoned by the actual blog owners.

Probably the biggest player in affiliate marketing is Amazon. The world's largest online retailer has a program called Amazon Associates in which you can sign up for free, select products from among the tens of thousands they offer for sale, and promote those products on your blog posts.

http://EzineArticles.com/7723576

Top Five Questions To Ask Yourself Before Starting A Business ...

Starting a business is exciting ... and scary. One of the best ways to boost the excitement and shrink the fear is by being prepared.

While it's difficult to plan for every possibility and challenge that may occur, you can get yourself on the path to success by considering these five questions before jumping in with both feet.

1. Have I set goals and do I have a plan for reaching them?

As the proverb says, "He who fails to plan, plans to fail," and this is especially true when starting a business. Without a clear idea of where you want to go and how you plan to get there, you may find yourself stumbling through the stages of starting a business and facing unwanted stress and frustration.

One of the most important steps is setting goals that outline what you want to accomplish in the short term (1 month, 3 months, 6 months, etc.), as well as over the long term (2 years, 5 years, etc.). Once you have created your goals, it's time to make sure you have a plan for your business that will guide you along the way. It's also helpful to understand your motivation for starting a business in the first place.

2. Will I be able to follow my plan without breaking any laws or regulations?

There are a number of legalities that you should consider when starting a business. Here is a list of some of the legal areas you should explore:

• Deciding on the structure of your business (sole proprietorship, partnership, corporation, limited liability company)
• Registering a business name
• Obtaining necessary licenses and permits
• Planning for business taxes

3. Have I fully considered the financial implications of starting a business?

Money is a major concern when you start a business, especially if you will be leaving behind a steady paycheck and if your business has significant start-up expenses.

Some business financing options to consider to ease the financial transition include starting your business on the side while continuing to work full time, working a part-time job until your business becomes established, waiting to start your business until you have saved up a financial reserve, and borrowing the necessary funds to bridge the gap.

4. Is my support network in place?

We accomplish very little in life completely autonomously, and the same is true in business. Even if you plan to be a sole proprietor, you can benefit tremendously from creating an external support system to keep you on track.

Your support network may include family, friends, colleagues, a mentor, a coach, and anyone else who can help you navigate roadblocks. When you have an effective support system in place, you will find that you have a cheerleader, consultant, moral support and even a devil's advocate when necessary.

5. Do I have what it takes to make it as a business owner?

Being a successful business owner requires a unique mix of personality and small business character traits. While there isn't a standard formula that makes one type of person more successful than another, some entrepreneur-friendly personality traits that can ease the process of getting started as a business owner include passion, drive, dedication and self-discipline. And it doesn't hurt to be an effective communicator and someone who is willing to take measured risks.

These five questions are likely to spur a few more specific to your situation. Now is the time to consider all of the possibilities ... then you can let your enthusiasm trump the fear.

http://sbinformation.about.com/od/startingabusiness/tp/questions.htm

How To Find New Business Ideas In Everyday Life

The idea for Disneyland’s Magic Kingdom was born on a family vacation. Walt Disney was visiting Tivoli Gardens, one of Europe’s oldest amusement parks, when he realized he could create a bigger, better version in California. His method is not unusual: Great entrepreneurs find new business ideas by paying attention to opportunities in everyday life.

"The world around you is filled with ideas that can be useful," says Andy Boynton, co-author of The Idea Hunter (Jossey-Bass, 2011).

None of those ideas will come to you by thinking really hard in a vacuum. You have to get out in the world and practice behaviors that lead you to new ideas. "Innovation is not about how smart you are; it's about the hunt for ideas," Boynton says. "Behavior trumps IQ."

By learning to think and act in ways that bring new opportunities to light, you can find a constant stream of business ideas in everyday life. Here are three tips to help you find inspiration in the world around you.

1. Keep a list of opportunities. "At any given time, there's a job that has to get done," Boynton says, meaning the world is full of problems that need to be solved. As you go about daily life, keep a running list of jobs that others have abandoned, ignored, or failed to address effectively. Each is a potential opportunity.

"Start with your own experience," Boynton says. Ask yourself, what bugs me? What could be easier? More fun? More convenient? Your own frustrations will guide you to real problems that can drive a new business idea.

2. Hunt for ideas in diverse places. New ideas require creativity, which thrives on novelty and diversity. You might find a great idea while you’re on vacation or unexpected inspiration in an experimental art exhibit. "If you open your eyes, the answer is there," Boynton says. "But your world has to be broad enough and diverse enough to feed you the ideas you need."

Your search needs to be intentional. "When effective idea hunters talk to people, they’re not just going through a social dance," Boynton says. They're looking to learn what others know or do -- mining the world around them for useful ideas.

3. Notice how others solve business problems. In any situation, you are surrounded by problems that someone has tried to solve. Each is an opportunity to learn. Start noticing how convenience stores organize inventory, how packaging catches your eye, or how Amazon encourages impulse buys. You might find a better way to solve the same problem or inspiration for solving a different problem.

"You really can borrow and reuse ideas, and reapply them," Boynton says. "If you develop a mental habit of [noticing others' solutions], it opens your eyes to what's out there."

http://www.entrepreneur.com/blog/225348

How Richard Branson Is Helping Aspiring Entrepreneurs ...

Virgin Startup is a new non-for profit company, supporting & mentoring aspiring entrepreneurs ...

Testing Business Ideas

One of the best ways to avoid starting a new business that’s doomed to failure is to test your business idea rigorously before you launch.

Just because you’re good at something, enjoy doing it or dream of becoming a successful entrepreneur doesn’t mean you have a sound business idea.

If your new business is to succeed, there must be sufficient demand for your products or services at the prices you intend to charge. It doesn’t matter how much knowledge, personality and drive you bring to your new business. If people don’t want what you’re offering at the price you charge – your new business will fail. Simple.

How To Do Basic Market Research

Although the very words ‘market research’ conjure up images of clipboards, questionnaires and a small army of researchers pestering shoppers on a busy high street, for most small businesses the solution is much more basic.

The key to success can be to spot a gap in the market and tailor your business to fill that ‘niche’, so you become the number one supplier within that market. Even if you’re a ‘me-too’ business or if you plan to sell something that’s already proved popular, you should still carry out some market research to seek honest feedback from potential customers.

Pre-start market research for most new businesses need not be sophisticated or expensive, you simply need to know who your customers are and what they think about your products or services.

Don’t make the mistake of simply canvassing friends and family, because most will be reluctant to criticise. Plus, they probably only represent a small proportion of your market, at most, it won't be reliable market research by any means.

Speak to potential customers you don’t know. Find out their opinions about what you plan to offer. Do some real-life product testing. Crucially – ask whether they’d buy your product/service at the price you’re asking. If the answer’s no, you need to reconsider.

For small businesses that sell to few customers (possibly other businesses), market research will involve meeting potential buyers to discuss products/services and prices. For those aiming for mass-market appeal, the answer might well involve asking questions to people on the high street, where free samples always come in handy. You might do some door-to-door market research. Write down all responses and learn from them. 

Weigh Up Your Competitors

Effective market research also involves assessing the competition and web-based searches are a good place to start. Also flick through the pages of business directories and local papers/magazines. Even walking around the area in which you’re thinking of setting up will reveal much about the competition you will face.

Find out how many businesses in your market offer products/services similar to yours. Determine how much they charge and what terms they offer (eg buy now, pay later, etc).

If there are too many competitors or some whose prices/terms you cannot match, your business idea might not be viable.

Assess Your Market Research

Be honest when considering the results of your market research. Pay particular attention to feedback on prices and never simply ignore those who tell you they don’t like your products or prices. Ask what they would prefer you to sell and/or how much they would pay. If this is considerably lower than your price, find ways to cut costs, if possible.

Important flaws in your business idea might be exposed, but better to find this out before you commit time, effort and money to starting a new business that will never succeed.

You might decide your only option is to think of a different business idea. Don’t be disheartened. Many successful entrepreneurs have had to work their way through numerous bad business ideas to arrive at good ones.

Alternatively, your business idea might simply need a tweak here and there to enhance its chances of success. If you’re really doing well, your market research will make you even more confident your business idea is a sure-fire winner.

http://www.startupdonut.co.uk/startup/start-up-business-ideas/testing-business-ideas

This Is The Most Important Habit For Business Success

In this 90-second video, behavior expert James Clear talks about the most important habit any entrepeneur needs ...