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Posts Tagged ‘business coach’

How To Start A Business For Under $5000

Tuesday, August 11th, 2009

In today’s economic environment, individuals with entrepreneurial mindsets are exploring new ideas for businesses that will not only survive in a recession, but will also thrive. The key to starting a new business is maximizing its resources while remaining lean in operations. Let’s face it: most people do not have $100,000 sitting in their pockets. So, how is it possible, then, to start a business with a minimal amount of capital? The good news is that there are literally hundreds of business concepts that can be created with less than $5,000 in start-up costs.

Businesses under $1,000

Yes, believe it or not, it is possible to start a business under $1,000. According to BusinessTown.com, there are 82 business categories that do not require more than $1,000 in start-up fees. For example, to become a Merchandise Demonstrator, start-up costs are estimated between $500 and $1,000.  However, earnings can rest between $20,000 and $35,000 per year. This business requires a person who has garnered a network of business contacts to demonstrate products for one or more specific companies at trade shows and seminars. This business can be learned first by handing out samples at grocery stores, which typically pays up to $50 per day. By beginning here, the person has a launching point from which to establish relationships with larger corporations, with the ultimate goal of merchandising their products. Other examples of inexpensive businesses under $1,000 entail Lawn Care Services, Toy Cleaning and Repairing Services, Reminder Services, Professional Organizers, Motor Vehicle Transportation, and Roommate Referral Services.

Businesses between $1,000 and $5,000

The good news is that there are literally hundreds of business concepts that can be created with $5,000 or less. As reported by the aforementioned online source, 136 businesses cost between $1,000 and $5,000 in start-up fees. Most of these concepts only require a phone, desk, and a few other tools such as a list of established contacts and a passionate drive to build a steady pipeline. Some of the more interesting businesses that stood out include a Resume Service Provider, a Mobile Hair Salon, a Meeting Planner, a Mover, a Window Washing Service, a Vending Machine Owner, Flower and Tree Cutting and Trimming Services, and Speechwriting Services. Now, these are only eight of the 136 businesses listed, but are businesses that may appeal to a larger number of entrepreneurs, than the more concentrated, niche-targeted businesses such as an Adoption Search Service firm. 

The antiquated notion that a business cannot be started without a large lump sum of money is no longer the reality. Many businesses today have flourished based off of lean operations and low start-up costs. Today’s world does not require every type of business to begin its first day in operations out of a 10-story office building with leather couches and a glitzy waiting room. Companies can start out of one’s home and see immediate results. Entrepreneurial expert Bonny Alpo, who has owned her own copywriting service since 2005, reports that the least expensive business concepts revolve around pet care, home care, and delivery and moving services.

There’s no excuse for not being able to start your own small business either as a full time effort or start off part-time until it grows. Contact Ethos 360 (http://www.ethos360.com/contact) for additional assistance and business coaching.

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How A Business Mentor Works With An Entrepreneur

Thursday, July 23rd, 2009

My mother used to remind me that all relationships take time.  Friendships, marriages, and even business relationships all require a little TLC and room to grow so that they can find their way to success.  This is especially true for a business mentor relationship.

If you’re smart in your selection, the right business mentor will not only gain you an advisor but also a confidant and friend.  The best type of mentor relationship is one grounded in the personal connection that the entrepreneur and the mentor can forge.  My favorite anonymous quote happens to be, “Mentor: Someone whose hindsight can become your foresight” and I can’t begin to tell you how perfect a philosophy this is for the relationship.

It doesn’t just have to pertain to business, though.  The mentor needs to build personal interest as well as trust.  While they’re not going to be your therapist or your significant other, the type of dynamic that you want to maintain with them should enjoy commitment and consistency as well as communication.  This is sometimes done best through finding common interests so that the dialogue can flow freely and that a strong rapport can be built.  Qualified mentors should be interested in you as a person as well as a business person.  By having a dialogue that allows them to know you as an individual they’ll be able to make the working relationship less intense.  The right business mentor knows that the client is human and makes them feel human. This is one of the underlying philosophies ingrained into the mentors at Ethos 360. (www.Ethos360.com).

An established rapport can contribute to building a solid mentoring relationship that a business mentor will need to set to develop a consistent pattern of communication early on. This is because frequency of contact is highly important.  Communication breakdowns occur when a tone or consistency that one side is used to is suddenly changed with no explanation.  Ask anyone in a relationship what it’s like to suddenly be unable to get in touch with your girlfriend on the usual date night or when your husband is suddenly distant and uninterested in your thoughts.  Your business mentor should discuss updates on the items they recommended in previous talks and always maintain at least the minimum of interest and enthusiasm established.

Remember that the right mentor strives for three C’s: Commitment, consistency, and communication and that these three C’s are reciprocal.  The entrepreneur will also need to maintain these points so that the relationship can be mutually rewarding.

I’ll leave you with another of my favorite quotes about being a mentor from an unlikely, but worthy source.

“People ask what gives me the authority to give advice. I say, first of all, I don’t give advice. Dr. Phil gives advice. Mr. T helps people. I motivate them, I inspire them, I give them hope, and I plant the seed so they can feel good about themselves.”

-Mr. T

Truer words have never been spoken.

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Women In Small Business- The New Leaders

Sunday, July 19th, 2009

Currently, women outpace men in new businesses about 2 to 3. Of this statistic, Latina women in particular are entering entrepreneurial ranks full speed ahead, outpacing every other demographic group.

With these key points in mind, why are women losing ground in the venture capital pool? Less than four percent of venture-backed companies are headed by women. That’s the lowest in ten years.

I’m going to repeat that again: Four. Percent.

Even more depressing is that it’s not looking much better for angel investors. Only ten percent of angel money goes to businesses headed by women. A little better, but not by much.

It’s not that the money wasn’t there at the time of these studies. On the contrary, there were billions in investment dollars available in new venture capital funds and new angel groups sitting around waiting to go out. The current status of these monies is probably a little less readily available which would depressingly make the above statistics shrink even more.

So how come women weren’t getting their fair share? What is keeping us from getting our turn at bat?

The simple answer is that venture capital and angel investment firms are run by men. Anyone who didn’t see that coming, raise your hand.

So the obvious question becomes, “what can we do about it?” It’s been this way since before suffrage and while there isn’t a magical solution, there are some real steps that women can take to make their companies a success.

Bootstrap the Company: Of the companies still standing, well over 90% them are still financed by the owners or “bootstrapped.” It doesn’t matter who’s running it whether it be male or female, this is still the best way to finance a company. If you can’t get it off the ground with your own money, then it won’t make sense to someone to join you in the endeavor to help grow the business. Hire a mentor/business coach with experience launching start-ups. The money saved in avoiding key mistakes alone would more than make up for the cost of such a service. Visit www.Ethos360.com to review their offerings

Incorporate: If you take your business seriously, others are more likely to do so too. Companies such as www.LegalZoom.com can offer up helpful solutions if you’re not sure how to incorporate your business.

Create a Strong Management Team: I usually advise people to look at what is missing from their own list of skills and experience. If you see something missing in your resume that can be filled by an advisor you know or a colleague looking to work with you, add them to your Management Team. A strong and diverse Management Team can show that not only are you staffed with professionals, but that you all bring something different to the table that is important for success. There’s a great website called www.PartnerUp.com that helps entrepreneurs such as you find these connections.

Build a Strong and Competent Business Plan: Remember that the business plan exists to outline the whole project, not just the numbers and the idea. The challenge to you as the entrepreneur is to present the whole package to a prospect and be able to defend every aspect. The idea and the numbers will always be what trip you up, but the management team and the strategies that you will use to meet your financial projections are just as important. Know the plan inside and out and be able to speak without looking at it as a reference.

Network, Network, Network: This will become your least favorite word to hear and say within the first year of start-up. It’s important to remember that you must do this action like your life depends on it since the continued success of your business may well depend on the contacts you manage to make.

Create a Clean and Commanding Presence on the Internet: Just becomes the dot.com bubble burst is no reason to dismiss the importance of a strong web presence. Companies, such as, www.GreenLeafImaging.com will help you define brand identity along with establish and manage your web presence. It has fast become the first place that the modern consumer goes to discover information about you. You not only need to build a strong and functional information page but also strive to keep your reputation clean on the internet. Message boards and blogs can just as easily decimate you as help you if you manage to incur the wrath of disgruntled clients.

Go Straight to the Corporations: Many large corporations have venture capital arms with the sole purpose of identifying and promoting technologies in their fields. Begin research and due diligence by exploring www.TheFunded.com. This might be a way to get in should you have a viable venture that may be company specific and can bypass the usual forms of financing to get off the ground. You may run the risk of losing certain rights to your idea, though, so be cautious.
Promote Your Business Before You Open: Depending on your venture, a little pre-publicity and buzz can bring the attention interested finance people in your area. Start that interest and then strive to maintain it by following through on what you’re promoting in the outset.

Don’t Shy Away from “Women’s Businesses”: Don’t get defensive about taking on a business that is considered a “women’s business”. Salons, patisseries, dress shops, etc. are all extremely viable business models run by women and for women. It’s admirable to want to do something different but if it’s not broken, then why not at least consider it?

We’re all looking down the barrel of the economic gun right now and it’s even harder today to get a business off of the ground, but don’t let that be what gets you discouraged about starting your business. Remember that we are women with just as much ability and drive as any man who goes and seeks capital or investment. This might just be our time to get ahead.

Food for thought: Did you know that about eighty percent of the venture capital funded businesses fail? Without a doubt, the businesses begun by women have a much better chance of success than that.

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How to Start an Online Business for the At Home Entrepreneur

Wednesday, June 17th, 2009
Any entrepreneur who’s surfed the internet for 5 minutes has seen the ads. “Make Money on the Internet Working 30 Minutes a day?” “Want to Earn 6 Figures in 6 Months?” “Start Your Online Business and The Only Work you’ll ever have to do Again is Cashing Checks”. Some of them are laughable yet naive entrepreneurs fall for them all the time. There wouldn’t be hundreds of these ads on the internet if they didn’t work. And I mean, make money for the person selling you the e-book, website, home business start-up kit or Multi-Level Marketing Scheme not for you.

Let’s Get Real.

Some people believe it easy to start an online home business, but without having a handle on what is needed to make money online, they will fail like the rest of the 99% that try building a home business on the internet. There are things you must know and ‘tricks of the trade’ that will make the difference between success and failure. This is what we’re going to discuss; how YOU can follow a step by step process to build your own small business and be one of the 1% that are successful.

The Best Part is you don’t Need a Ton of Money to Start the Business.

You don’t need an investor or venture capitalist and you probably don’t even need a loan. You can do it full time or start part time and gradually move to full time as you replace your current income. How much money you make is based upon a little luck, a lot of determination and your desire to succeed. If you didn’t have the desire you probably wouldn’t be reading this right now. The fact that only around 1% of those that start an online business succeeds should be indication enough that there is more to it than just the will. There is also the attitude, information and knowledge. Let’s have a look at each of these. Attitude is Important.Your online home business is a business, not a hobby, and it should be treated as such. You have to discipline yourself to work towards a set plan and achieve your goals: set monthly, weekly and daily targets, and if you take time off for a lunch with a friend, or to watch an episode of Lost, then work later until you have met your targets. Set reasonable expectations. Don’t aim to high or you’ll burn out before you ever really get going. Remember, this is a marathon not a sprint. Targets should be set so that you achieve so much in a certain time, and when you meet them all, your business is that much stronger and on course for success. Newcomers to internet business will most likely need some help with that to start with, but you should quickly get into the swing and be able to formulate your own online business plan and set targets to achieve it. Don’t look upon your income as spare cash: look on it as your income, even if you still have a regular job. Most that are still learning about what is needed to make money online have a day job, although quite a few are unemployed. That’s why they are trying to use the internet to make a living especially now with the current economic climate. Think positive. Fortunes are built during the bad times and cashed in during the good times.Knowledge Is Only As Good as the Source it’s From.

There is a lot of information online, but information is no good on its own with knowing what information is useful and what is not. You must also know how to use the information provided to you. Simply being told that keyword research is essential for the success of your website will not help you to carry out that research properly, and arrive at the right keywords for which each page on your site should be optimized. You have to be told how to carry it out and how to apply it to your online home business. Not only that, but too much information can be just as bad as insufficient. You can suffer what is referred to as ‘information overload’. You have all the information you need to be successful, but there is so much of it, and how do you put it all together to formulate a coherent business plan? Check the resource where the information came from. Seek out experts. Find their blocks and subscribe to the RSS feeds. Listen to people who’ve been successful doing what you are doing. You’ll find they all share common characteristics. Don’t forget to research, research, research.Knowledge Comes From Information.

There are a lot of intelligent people that start an online home business, but fail because they have no idea of what is needed to make money online. There is a lot to learn, and most of the currently successful internet marketers have spent a great period of time devoted to learning their craft. Many had to learn and improvise as they went, because internet marketing was new when they started, and they set the standards and level of knowledge of their day. Now, however, there is a lot of information available online but you have to know what you are looking for before you know what to search for! How do you get a website started up? There are several steps, including:

· Decide how you are going to make money: by selling a product, providing a service or some other way.
· What form will that product or service take? Do you have to create it yourself or sell, on commission?
· How do you choose a domain name?
· You have found out that you should carry out keyword research but how do you do that properly?
· How do you buy and register a domain name, and then use it on your website?
· How do you start up a website?
· How should your website be designed?
· How do you go about designing and constructing it?
· How do you advertise your website? How do you get your site listed on Google and other search engines?
Take Your Time. Step by Step.

We have barely scratched the surface with the above basics. Without that knowledge, however, you don’t have any hope of succeeding with an online home business, and you will be like the 99% others that fail to make money online. The best way for most people to learn, and the way that most appear to prefer, is just like being at school. You are not given the entire alphabet to learn at once: you learn a letter at a time. The same with learning how to start an online home business and make money online:

1. How to choose a money-making or internet marketing technique.
2. Find out how to formulate a plan, and set regular targets.
3. How to choose the right product.
4. How to get a website started up.
5. How to get your products on the site, and how to set your site up to collect payments and deliver the product.
6. How to promote your product and website.
7. How to set everything on autopilot and get onto your next project.
That is just one of a good sequence of events, whereby you are provided the information in easily digestible pieces that come together to provide you with a viable online home business that will not only help you to make money online, but also work as the basis for a massive internet empire that could one day see you earning 7 figures online.

All of the above can be achieved by taking the time to learn at your own pace, lay the foundation, stay motivated, achieve your goals step by step and launch your start-up small business. It is recommended, and money well spent, to hire a mentor or business coach to assist you with your new endeavor. Visit www.Ethos360.com to review their services. Not only can hiring an experienced mentor save you time and headaches but also money as well by keeping you from making the mistakes and falling into the failure traps of the other 99%.

Happy hunting and go make some money!

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How To Start A Successful House Cleaning Business

Wednesday, June 17th, 2009
Don’t let a lack of funds stand in your way of starting a business of your own. There are many businesses that can be started on a shoestring budget so you can get up and running relatively quickly and start making money. Service based businesses are often some of the best start-ups because you’re making life easier for your clients either by performing a service that saves them time or makes life easier for them.

A cleaning business is a sure fire way to make income quickly.

A home based residential cleaning business is one of the very best businesses in 2009 that you can start for very little cost. Here’s how to do it. You may have never considered this type of home business before but it is definitely one to consider in these hard economic times because start-ups costs are low and effective marketing strategies don’t require a lot of capital. When you don’t have much money, getting started a residential house cleaning service may be just what you need. Of course it helps if you are something of a neat freak. In today’s economy this service type of business can be you and your families answer to an uncertain future. So many people are in the terrible position of no income at all after being laid off from a company they have worked many years for.

What gives this industry a strong appeal to a wide range of people? Flexibility.

There are many niches in the cleaning industry so you can big one that you’d most enjoy or the one you have the most experience with. By doing a little legwork and research may also help you determine which type of service is needed in your area or where there’s the least amount of competition bettering your chances for success.

You can have a variety of goals in this industry.

Office cleaning, or window cleaning or branching out to a professional organizer are just a few examples. You can build a company that suits your own particular style and talents. If you like doing the work on your own, then you could stay a small company of one or two people. Or if your talents run more to the administrative side, you could build and manage several teams to do the work. This can be very profitable. Residential cleaning offers predictable scheduled hours that can be part-time or as many hours as you can manage. It’s up to you.

So how do you go about getting started?

1. Do some research to determine what type of cleaning service is needed in your area the most.
2. Work for a cleaning service for a few months to gain some experience and see if this is something you really want to. Earn while you learn.
3. Get incorporated for tax and liability purposes.
4. Apply for any licenses or registrations needed in your state or municipality to conduct business.
5. Do you need to be bonded or have a specific type of insurance?
6. Open a business bank account.
7. Start marketing to acquire clients.

You can get started for less money than you think.

Starting your own business often requires a lot of money; however a service related business like house cleaning can be started for very little money. You can use the money you earned while working for the other cleaning company to start your own. With a bucket of cleaning supplies and some cleaning rags you can start an instant business.

How much will you charge clients?

Your fee to clean a house will be based on a few factors. For example: the size of the house, the layout, number of bathrooms, is there a lot of stairs, any specific needs?

Every situation is different. Some individuals want their home cleaned once a week, some who want it done every other week and some just need it done once a month. You should also take into account if there are pets and children, more to clean, and the degree of clutter. Whether there are lots of hardwood floors or rugs, or other materials with specific needs.

Offer a free estimate walk through of the home. All the information can be gathered in order to give the best quote possible. It’s easy to create a checklist of services so you can determine a quote while doing a walk through with the client. Leave them a copy of your credentials (licenses’, bonding information etc) too along with the quote. If you have a brochure or list of references make sure to leave them as well.

In the beginning you’ll be doing the selling. Don’t worry. Make it fun.

Scared of selling? Practice with friends and family. Go over what your services are and practice answering question that a typical client may ask. Take your time with clients, be empathetic, listen to their needs, ask questions about why they need help and which aspects of your service will be most beneficial to them. Be nice, friendly, courteous and respectful. Treat them the way you’d want to be treated. Never forget to ask for their business.

Getting paid.

Most cleaning businesses just ask for cash or a check on the day of the service to be left on a table. Most people will give you a key, but some like to leave it on their property. Some people are home the day of service and some are not.

How much do you charge?

Find out the rates in your area. What is the average? Any were from $10 to $25 an hour usually. Call around to get an idea of what other services are charging. Cleaning jobs should be priced by the job and not by the hour! Look at it from your clients’ point of view. If the customer knows that they have to pay $100 to get the house cleaned, it doesn’t matter to them if it takes 3 or 5 hours. But if you tell the client that the same job would be priced by the hour, they just might question why it took you an hour to do a bathroom etc.

The initial cleaning.

When you are cleaning one house it will not always be priced the same. The first time you clean, the initial cleaning will be different than the subsequent cleaning jobs. You should charge accordingly, anywhere from 25 to 50% more. If you charge $100 for a 3 bedroom house, add $30.00 depending on experience, you will adjust your price on the initial cleaning.

Get the best prices on cleaning supplies.

Any club type store such as Wal-Mart, Sam’s Club or Costco are good places to buy in bulk for less. Most of your clients will expect you to bring your own supplies and have your own tools. I recommend that you invest in a small portable vacuum as some clients vacuums will not be what you need to do a good job. If they have central vacuum it’s usually best to use that.

So what supplies would you need?

· an industrial grade bathroom cleanser – Scrub free – tubs with a plastic milk container, an all purpose cleanser – Mr. Clean – floors – toilets
· a window/mirror cleanser – Windex (antibacterial) and Vim multi surfaces
· a soft scrub cleanser – Vim cream cleanser
· furniture polish – Pledge – used mostly for the dust mop
· wood floor cleanser – Murphy’s oil soap once a month on all wood surfaces
· 2 buckets – for moping and to hold all your products
· a bag of cleaning cloths – linen is best – wash nightly
· a Swiffer Sweeper with dry and wet strips – good for new hardwood floors
· extension pole duster and a duster (feather) several sponges.

Some customers have certain products that they like used in their homes. You should ask at the estimate and note it on the schedule. Also any preferences, write on the check list that you leave with them for the initial first clean. With each visit add comments as to what was done that week for the customer’s knowledge but also for remembering what was done.

How Do You Advertise?

Flyers work very well. You can produce an attractive flyer on your home computer and print them out. This method works well for seeking frustrated customers who are not actively seeking cleaning services. They see the flyer and think it’s a great idea. A simple website works very well. You can link it to the flyers and your business card too. I make my own, or you can have them produced cheaply online. Having a nice tri-fold brochure as a leave behind is a great idea also. You can place ads on Kijiji (http://www.kijiji.com/) and Craig’s List(http://www.craigslist.org/) for your area also.

Your website.

Make it personal, with your picture and a little about yourself. A 4-5 page website is all you need. Include information about your services, pricing, geographic areas you cover, credentials, references and contact information. Make sure to list all your services with the average price breakdown.

A list of clients and references should be given after giving an initial estimate, so when they see comments from emails from my clients on your website; they can link the name to the comment and call them as a reference, if they choose to.

Buying a domain name, hosting and having a website created should not cost an arm and a leg.

Hire a mentor to guide you through the process of starting your business.

A qualified, experienced mentor will be invaluable in assisting you through each aspect of starting and growing your cleaning business. They will also supply you with the motivation you need to keep persevering if you run into any roadblocks along the way. Spending a few hundred dollars for the services of one on one mentoring and business coaching may potentially save you thousands by keeping you from making mistakes or wasting valuable time that should be spent focusing on starting and growing your business. It will also give you an ally and advocate who has your best interests in mind. Ethos 360 (http://www.ethos360.com/) helps start-up entrepreneurs, such as you, achieve their dreams and create personally fulfilling businesses. Ethos 360r offers a lifetime membership and a 100% satisfaction guarantee. Serial entrepreneurs are welcome too!

In conclusion.

Starting your own cleaning business right now in this time of economic crisis is a great way to earn a solid income. It really is a great money making business. Your repeat customers will pay you continuously on a regular basis. The growth potential can be tremendous too. As your business grows you can hire employees, build cleaning teams, and create a brand and one day sell franchises. You just can’t beat that!

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