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Bizeria.com regularly publishes thoughts and commentary on new business ideas. We watch out for new business concepts, then we share them with you.
Review our pages for interesting and idea generating articles about what other entrepreneurs are doing. Then, come up with your own ideas, or copy theirs. Regardless, just do it. It is your destiny.
The Latest!One Business Idea, Two Separate Outcomes
October 24, 2007
How might this be you are asking? Surely, if two people have the same idea, and each is given an equal opportunity to make a go of it, both have an equal chance of succeeding. Or do they?
I am often reminded of a few basic statements that relate well to starting up any new business, which though they have likely been said before, are well worth repeating. For example, when starting up a new business, timing can be your best friend or your worst enemy. Do what you love so that you can in the end, love what you do. Be a leader, simply for the fact that a follower has no one to follow when starting a new business. In addition, those with a great idea for a business start up must never assume that as long as the idea is solid, that everything else will fall into place. Getting a new business up and running is going to take both good timing, a love of what you are doing, the skills to lead others along on your travels, and a lot of work. For any of you who might know otherwise, please fill me in as I will be the first to sign up!
Let me show you what I mean by this. Two business minded persons, both with relatively solid ideas for a business that will both fill a niche and has opportunity for growth, may end up with two separate endings. One person will take that idea and run with it. He or she will make contacts, approach the right people who can help them succeed, and not be afraid to go that extra step or ten. They will study the area they plan to open the business in, looking for uptimes, and downtimes, and even in between times. They may even order a market study if they do not feel that they are capable of surmising if this is really a good place to open such a business. If they find out it is not, they will even look for the place that the business would be a good fit if they are still feeling confident about the business itself. They will forge on until they have put together the ideal business scenario, and then they will put everything into action, and more often than not, the business they have created will not only succeed, but it is likely to thrive. The daily grind of the job will also be something that they love to do, and along the way, they will have the leadership skills to get others on board, others who can help the business in a positive way.
The second person, also with a solid idea and with the knowledge that there is indeed a need for such an industry, may stumble the first time they meet resistance. They are not confident enough in their idea to go around or over the obstacles that they might encounter. Even when no real obstacles are in their path, their lack of enjoyment of what they are attempting to do, might be their biggest barrier. As for getting others on board to help, well, they do not love what it is they are trying to put together, only seeing the dollar signs at the end, so their motivation that they might otherwise use to persuade new involvement is lost. No motivation, no love of what they need to do, added to no confidence, can take the best-laid plan and squash it in its path.
If you are considering starting up a new business venture, consider not only what you think will be the prize at the end of the road, but also how you plan to get there. A huge paycheck at the finish line is tempting for sure, but obstacles such as those I just discussed, that you create internally, will keep you from ever reaching that goal more so than any other obstacle that you might encounter. Consider all the roads that lead to the trophy, and decide on a business venture that you not only can live with at the end, but one that you can thrive with along the way.
One business idea can easily have separate outcomes, and it all depends on the path taken.
10:29 AM 0 comments
The Retail Scrapbook Industry for the Small Business Owner
October 19, 2007
Do what you love! You hear this phrase all of the time, even in the world of business. When it comes to a business that requires such personal input, it becomes quickly apparent that a love of scrapbooking and crafting in general is a great background for anyone contemplating opening and running their very own retail scrapbook store. Yet, unless this love is going to provide you with a profit, it does not make much sense. Will running a retail scrapbook store pay the bills? Will it make a profit that is worth your time and energy day after day? Will you be able to afford the inventory to begin with, and one that is ever evolving and changing? Answer these questions honestly, simply for the fact that if you are not honest with yourself, you could end up in the red, deeper in debt than before you began, and that is definitely not a goal anyone goes in search of
Consider this. The craft and hobby market is a huge moneymaker for many big and small companies. Big business has many hands in the pot, but due to the complexity and variety of the markets, there is plenty of room for small business, even individuals, to get their feet wet too. A retail scrapbook store is one such area that many entrepreneurs are focusing in on. However, finding out if this is the right business for you to open, might not be as simple as it first appears. You will need to determine if this is the right track for you to follow. The good news though, is if you discover that a brick and mortar scrapbook store is not for you, there is an alternative.
Let us look at a couple of areas that are common to this type of business, from a logical side. Is the area you plan to service, home already to such a store? If you answer yes, do you plan to offer something different or unique that the other store, or stores, do not, and that they will not be able to duplicate easily. Is the area you plan to open up shop in populated enough to support the rapidly evolving product base that is required to keep customers who always want the newest and up to date items content? Scrapbookers, and if you are one yourself you know this, like to always be discovering new, including new papers, new embellishments, new tools, new, new, new everything. A store that cannot afford to be constantly updating the inventory is not going be successful very long, even if they are able to attract customers to begin with.
Space must also be a consideration. Yes, there are small scrapbook stores out there that have flourished over the years, but they are likely to be the only thing going in a huge area. If not, space for crops and classes should be a major consideration. In addition, who is going to teach the classes and run the crops? If you are a small enterprise, you cannot be there yourself morning, noon, and night, and crops are often held after normal business hours. So it comes around to how much of yourself are you willing to give to get such a business up and running.
Of course, there are many more concerns, and this is just a quick preview of what you need to consider. If you are already shaking your head though, thinking that this is not for you after all, there are alternatives. The scrapbook industry has several popular direct sale companies. A direct sale company is ideal for someone who wants to provide supplies to neighbors, friends, and family through home party and catalog sales, and make money doing so. Each works a bit differently than the others, but most keep a full inventory that is ever evolving available to their customers. The sales representatives you, offer the products at small gatherings where the customer can browse through samples and see the full line being offered via catalogs that the company keeps up to date. The advantage is that you are able to keep a low overhead, but your customers are able to shop all the newest gadgets and paper lines that only a large company would be able to offer.
6:08 AM 0 comments
Creating a Second Income through a Home Business
October 18, 2007
With an economy that is up and down more than a roller coaster, a second income is something many of us strive for, and not a couple of dollars here and there either, but an honest paycheck that is worth obtaining. Home businesses are a great source for such a second income, if the business is something that actually has potential for profit making. So what sort of business is this?
It will depend on several factors. Some of these can be decided upon by asking and answering a couple of questions.
What types of businesses are needed in the area you live in?
What about those that could be marketed to a wider populace of people through mail order or Internet?
Do any of these business ideas have the potential for attracting customers with money to spend?
Think outside of the box when it comes to business ideas if it seems like all the typical businesses are already available in your area or are overdone to the point that the market is flooded. In addition, do not completely overlook a business idea that is already in the works. Ask yourself how you could do such a business better. Competition is often a good thing for business, especially if you are on top. For example, are you aware of a new business idea that is succeeding, but that has little or no competition? If so, ask yourself why you feel that the same business might be just what you have been looking for, and just how could you put a twist on it to make your business stand out as the better choice for the consumer with the money to spend.
You will also need to reflect on what experience you might have that could lend itself towards the running of said business. Do not overlook what schooling may be needed to open and operate certain businesses under consideration. In addition, do not overlook any licensing issues. Lastly, be sure to take into consideration if the business ideas you are entertaining are even candidates for a home based business.
How much room will they require and do you have that room readily open?
Are there going to be any restrictions from the homeowners association you might be limited by, or zoning ordinances in effect that would prohibit you from running such a business from your home.
Putting tons of time and effort into a startup, only to find out down the road a ways that you are not legally allowed to run such a business from your home can be a drain on your finances instead of the boost you were looking to achieve.
Financing a home business is another area that you will need to be smart about. Just because it is, a home-based business does not mean there will not be expenses. Supplies, office equipment, day-to-day business expenses, are all areas that you might have to have money to cover. Sure, you might be able to use the family computer to start with, but if your business grows, which is the main goal with a new business, you will soon need to replace that with one strictly for the business itself. Keep things like this in mind when and if the money starts to flow. It is often too easy for funds from a home based business to become mixed up with the family budget, so keep records right from the start.
Depending on the state that you live in, you might be able to get help from your states small business association when it comes to start up issues. Most offer everything from help with financing to legal questions. They can tell you what papers you will need to file to be legal, and even let you know ahead of time what competition in your immediate area there is. Type in the name of your state along with the phrase Small Business Association, and you will likely be directed to a website that can answer all of your questions along with a few you never even thought to ask. Your local library is also a good source for such information, and if you live near a larger metropolitan area, you can likely visit an office in person.
10:55 AM 0 comments
Bizeria.com Profiles New Business Ideas
October 13, 2007
Check back soon for regular updates of this site, profiling new business ideas and concepts.
Successful entrepreneurs are always on the lookout for the next great thing. Sometimes what others are doing may be worth copying. Other times, a new idea or direction by someone else may lead you to a completely new idea or a better adaptation of that idea. Regardless, at Bizeria.com, we understand that regular reviews of new business concepts helps the entrepreneur keep his or her edge.
Happy money making. Thanks for visiting.
Bizeria.com
9:49 AM 0 comments
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