Capturing New Business Ideas – How to Avoid the Dangers of Darkminding

Everyone seems to agree innovation is important. Consider the following:

• Studies show innovation increases profit and return for investors.

• Being innovative can help you make better business decisions.

• Focused innovation can also increase productivity and reduce employee turnover.

• Searching for 'innovation' on Amazon within business books returns 5,757 entries.

Even allowing for duplicates, this indicates a lot of interest in the subject!

So why are not more companies innovating more often? Can innovation really work inside a corporate structure?

Are you Darkminding?

"Darkminding" is a term I use to explain two of the natural ways in which we think:

• Sticking to what is known – we do not like things to change, so even if we could be more creative we resist developing new ideas because they create risk. We "mind the dark" by maintaining it and trying not to let any light in (ie new ideas). This is another way of saying we like the status quo.

• Avoiding trying to develop new ideas – it's just too much hard work! Why think new things when the old way still works? We keep our minds dark and avoid the effort of creating light.

Darkminding can be quite useful for some things. If you had to reconsider every step in every process you carry out, you'd never get anything done. Routine can be efficient and helps us achieve things we do on a regular basis.

But, unfortunately, the world changes and often the process we've developed does not. These changes happen very gradually, though, so it is hard to notice when the normal routine becomes less useful. If things start going wrong, a few tweaks to what we are doing and we may be back where we were. But if the fundamentals have changed, these minor differences suddenly become very big problems.

All this is exacerbated by a corporate structure which often awards, in subtle and more obvious ways, keeping to how things are done and protecting your own area of ​​the business. Change in a company often means a threat to status and control, which makes coming up with ideas dangerous.

How a Company Can Create a Solution

If our brains naturally work that way you may be asking "Can innovation fit inside my company?" Fortunately, our brains also work in more creative ways which you can encourage, based on easing up our initial reaction to 'Darkmind' at the first glimmer of a new idea. It may be hard work, but realising our limitations and implementing some of the changes below can create an atmosphere of innovation in any company.

1. Why should I care?

The first step is understanding why innovation is important. There are a number of ways to achieve this, but the most important ones are those which give insight into your specific company. You can produce multiple studies and statistics showing the value of innovation, but without relating it to your company it will not have the same impact.

What are your competitors doing? You need to understand how they innovate, and whether you are up to their standard. Comparison to others outside your industry may also give you a benchmark to aim for. Analysis like this will give you details about where you are falling behind and prey to more creative competitors.

You also need to know how big the gap is between where you want to be in, say, three years and what it will take you to get there. If you want to increase turnover by 20% in that time, and assuming some of your products and offerings will become outdated or obsolete, how are you going to make up the difference? If revenues from new products need to provide part of that turnover, how many new innovations are required? If your analysis indicates two to three new products will be needed, it can often mean you need to have a minimum pipeline of 6 or more viable ideas. The gap may be bigger than you think, but you will not know until you check.

2. Make 'Business as Usual' unusual

Let me deliberately be provocative for a moment. People need the motivation to put forward ideas and accept a culture of innovation. One radical but effective way to do this, suggested by Peter Drucker in his book Innovation and Entrepreneurship, is to review every single area of ​​your business at least every three years and make it clear they will be on trial for their life. Underperforming areas should be rigorously reviewed and cut if necessary. This approach focuses minds on new developments and ideas and keeps people from stagnating and going with the flow. If you know you'll need to explain how you'll be profitable in future, you'll need to be able to explain the gap and how you'll close it. Innovation is the best way to make your case. If this sounds scary, the pressure the market will eventually put on an underperforming area is usually worse. Globalisation only amplifies this pressure.

3. Make it a part of the system

Whatever systems you have in place, make innovation part of what is done every day. If you review monthly budgets versus actuals, add a section on the status of current product development. If you have regular staff meetings, add a five minute slot to let people discuss recent innovations they've developed. Make innovation seem important and soon it becomes part of the culture. Do not forget you should also take time to step back from your usual work and actually go through some techniques to generate new ideas that can lead to new products, market approaches or cost savings. Just put some time in your diary! Remember, if you make it a habit, it gets easier to keep doing it.

You also need a system to track innovations being developed, including who is doing the most work in this area. You can then ensure you have a fresh and growing list of new ideas waiting to be developed. You can also award people who are continuously innovating. Someone should be responsible to the CEO for this list and for growing the number of ideas produced. Without a system, you'll have no oversight of where innovation is needed nor will you know how to use the full skills of your most innovative employees.

4. Create connections

Creativity is connection, so the highest priority is to foster people's ability to do new things and meet new people. Innovation is killed by people working in silos, passing the product from one area to the next. Your company can not survive with the following mentality any longer:

• "Here you go engineering. We've designed it, now you build it."

• "Here you go marketing. We've built it, now you let people know about it."

• "Here you go sales department. We've advertised it, now you sell it."

Everyone needs to work together, at inception, on ideas or services to make sure they will perfectly fit what the customer needs. The side benefit is that the more a diverse team works together, the greater number of unexpected innovations will arise. Try mixing people up and see what happens.

Another way to get people thinking differently is to move them around. Make secondments easy, for both internal and external moves. And when they're off, make people aware that part of their time should be spent thinking about how their experience can enhance what the company does in other areas.

The need for leadership

Some of the above ideas you could implement easily, in fact they can be done without people realising you are fostering innovation. Underlying it all, however, is our human inclination to prefer how things are, so there is hard work needed to implement a fully functioning process. Which leads to a need for leadership. Innovation always brings out uncertainty and the top managers and directors of the company need to define a vision to make it all seem less scary. Can you help people see, feel and know this is all the most important issue facing the organisation? Can you make the vision so vivid and so compelling people naturally want to go into that future? That is often the hardest part of driving innovation.

How to Start a Haul-Away Business For Just $ 400

There is a pressing need for haul-away services all across the United States. As people dispose of unwanted items, a new house is built or renovated and homes are foreclosed, people are needed to haul away the debris. The current national average for haul-away services is $ 53 an hour. But will not a haul-away business be expensive to start? Not really. Do you already have a truck or van? Okay good, there are only a few other things you'll need. In fact, you can start your own haul-away business for just $ 400. Here's what you'll need:

You might need a special kind of insurance, because you're using your vehicle for business purposes. Check with your insurance agent to find out more. Also inquire about any other insurance you might need.

Chances are you probably already have a computer. You'll need that to take care of billing, record keeping and other things. If you do not have one, get one! This will help you immensely.

A cell phone is another thing you might already have that you'll definitely need. It's the best way to keep in contact with your customers.

A reliable GPS system is something you should consider. This is not a must, but can greatly ease stress when you're trying to find a dump site and where you are supposed to pick up the discarded items. It's not only safer and easier than using a map, it could greatly speed up your time in traffic, which can mean more money for you.

Business cards are a great way to advertise your business. Make sure you have your business's name and your contact information on the card. Get in the habit of handing these out to prospective customers. After awhile people will start to be familiar with your junk-hauling service and what you have to offer.

You'll need a day planner or other reliable way to keep track of your schedule. An organized haul-away service is a successful one. There are many schedulers available for computers and cell phones too.

Many items might be too heavy for you to pick up. That's where a hand truck can come in handy. Many hand trucks can lift as much as 500 pounds. Get one that is capable of that. And do not forget about moving blankets. These are the best way to transport fragile items, such as a computer or television.

There is also a variety of hand tools you'll need, such as a shovel, rake, broom and screwdriver. You might need to clean up a site you just removed debris from, or take apart a box or other item to move it. You might also need some more heavy-duty tools, such as a sledgehammer, bolt cutters, a saw and more. Play it safe and be prepared. You do not want to arrive to the job and not have the appropriate tools.

It might sound like a lot, but it's really not. Make a simple to-do list and you could have these items all checked off before you know it. It should not cost you a lot of money either. Do a full day of work and you'll have paid off your supply costs. It's really quite possible to start a successful haul-away service for just $ 400. Learn more about To this lucrative business, . Read Haul It Away, available at: Http://haulawaycash.com

How to Start a Welcome Service

First, let's cover our bases. What exactly is a Welcoming Service? A Welcoming Service serves two purposes: 1.) to welcome newcomers to the area & 2.) to support and market area businesses. This service involves soliciting sponsors from area businesses, creating a pretty gift bag, compiling a list of newcomers and making the delivery. Sound easy? Well, it is, in theory. Putting these ideas to work can be a little more complicated.

Basically, what the consumer (newcomer) gets is a nice, friendly welcome from you & a beautiful gift bag filled with goodies from area businesses. Since Welcome Services are individually owned and operated, you can choose what types of 'gifts' you want sponsors to include. Some welcome services allow sponsors to include coupons or generic advertising flyers and such. Other, more selective welcoming services will only allow promotional items or gift certificates. It is generally up to you how to approach this. Some businesses may not have promotional items available, and this might be a chance for you to team up with a promotional items company and earn some commissions from those businesses.

From a consumer standpoint, the advertising that will stick out in their minds will be the gift certificate and promotional items. Those do not generally end up in the trash like junk mailers often do. I know from personal experience that if I get a nice fridge magnet or a pen, I am not going to just throw it away. Flyers and coupons, in my house at least, get tossed upon arrival. Experienced Welcome Services will usually advise you to stress the importance of actual gifts to your sponsors. That said; please use common sense when approaching the sponsors about their items. You certainly would not want to lose a sponsor simply because you are too stubborn to bend your rules here and there.

Sponsors are paying to advertise in your bag. A good businessperson will understand the importance of gaining the newcomers as customers. If they can catch them before their competitors do and they provide excellent service, it is highly likely that they will gain a loyal and repeat customer. Most businesspeople will tell you that it is much easier to keep existing customers than to solicit new ones. From my experience, most businesses are very receptive to this idea of ​​personalized advertising.

Think about a time when you were new to an area. What kind of businesses or services were you interested in knowing more about? Doctors, dentists, pharmacies, churches, beauty shops, daycares and plumbers are just a few of the businesses that newcomers will need to know about. I suggest thumbing through the Yellow Pages or even looking at your local Chamber of Commerce's website to make a list of potential sponsors. The possibilities are endless and you should always be on the lookout for new sponsors. Joining your local Chamber of Commerce is also a great networking tool.

Though prices vary, it is up to you to set a price for sponsors who wish to advertise. You want to be sure you are making a profit after all of your expenses, but at the same time you do not want to overwhelm the sponsors. Another good rule of thumb is to set your prices at a decent rate in order to allow yourself some room to increase that price in following years. Always take into consideration your gas prices, prices for any lists of newcomers you may have to purchase, and gift bag materials. I have seen sponsor prices range anywhere from $ 2.00- $ 3.00 per bag delivered.

Another great method of selling your service to sponsors is the monthly delivery list. You should prepare a list at the end of each month detailing your deliveries. The family's name, address and phone number should be listed here. Not only does that serve as an invoice to the sponsors, it also provides them with a little extra marketing tool. You should ask them not to abuse this information, but they can use it to mail promotional and information items in the future.

When calling upon sponsors it will be important to have a rough estimate of how many bags you will deliver each month. Several sources are available, depending on your area, to find the names of newcomers. In some areas, the water or electric departments area good source. The courthouse always keeps records of new people moving into the area. If you have any connections with real estate agents, those may be good sources too. I know some people who use title companies and pay a monthly fee for access to their lists. If your area has a newspaper with a good website, many times you can find these names and addresses in the Real Estate section. Having a rough estimate of how many newcomers move in monthly will be a deciding factor to many sponsors. Some may not want to spend a lot of money through this form of advertising, while others will want to reach as many people as possible.

I would also recommend having some businesses cards printed up. You can find a few websites that offer free business cards, others are very inexpensive or you can buy business card stock and print them up yourself. It may also be wise to print up some informational letters about your business. Keep it simple and to the point, and use bullets to highlight your services and what it will offer the sponsors. Remember: to businesses, the bottom line is what you can do for them, they do not really care about the rest.

After you have a good estimate of the number of bags you will deliver monthly and you have some sponsors set up, please be sure to have the sponsors sign a contract. In your contract, you should state the purpose of your Welcome Service, the fee-per-bag, when and how you wish to be paid. You will also need to set up a time on a monthly or weekly basis to meet with your sponsors to pick up their promotional material. Once you have all of your bases covered, you are ready to start putting your bags together.

You can make your bags as simple or as elegant and you wish. I recommend scooping out a dollar store of some kind and find some attractive bags to use. Ribbons and tissue paper should also be purchased and any other inexpensive ornaments you desire to spice up your bags too. You should aim to make your bag attractive, yet do not go overboard since these expenses cut into your profit. After you have your supplies and promotional items in hand, feel free to arrange your bag in any manner that you see fit. Simple elegance is a sure-fire way to impress just about any newcomer.

It is recommended that you attempt to contact the newcomer prior to the delivery. A quick phone call to say hello and tell them who you are is an easy way to set up a meeting time. If you can not find a contact phone number, you can always drop the bag off without notice, however, this should only be done in extreme circumstances. Be friendly and open with the newcomer; most will be glad to see a smiling face in an area that they do not know anyone. They will be very appreciative of your gifts and may even ask you questions about the area. Be prepared for them to ask you some common questions such as shopping centers, daycares, doctors, churches, etc. The point of your visit is not only to bring them the gift bag, but also to sincerely welcome them to the area and make them feel at home.

Your income from this business can vary greatly, but mostly depends on your drive and determination. Do not assume that just because you live in a very rural area that it can not work. Likewise, do not assume that because you are in a metropolitan area that you will breeze through the processes. Take your time in learning about area businesses, look at local newspapers to see who is advertising. Getting a good feel for your market area is a necessary first step. Let's say for example you are charging $ 2.50 per sponsor, per bag delivered and you secure 20 sponsors. You have a rough estimate of 20 bags a month to be delivered. Before the costs of the bags and accessories (which should be minimal), you have a gross total of $ 1,000 per month. That, in my opinion, is a very good income for such a very part time and flexible job. This is just an estimate – profit may be more or less depending on what you put into it.

Business Online Advantages and Disadvantages

Increasingly, more people own or are growing their businesses online with varying degrees of success. It is important for internet entrepreneurs to be aware of the advantages and disadvantages of doing business online as this knowledge will empower them to make the right decisions and implement the correct strategies if they do go ahead and start a business on the internet. Below are the main advantages and disadvantages of running an online business.

Advantages

Start-up costs are relatively cheaper than bricks and mortar businesses. Some business-in-a-box programs cost as little as $ 400, some even cheaper. If you are setting up your own website with your business plan you may only need to pay for a domain name and web hosting which would cost you less than $ 100. Even for the most expensive opportunities, they are still way cheaper than other businesses. The top scale start up costs for internet business could be $ 20k, which might seem expensive but when compared with businesses like the MacDonald's franchise which cost over a quarter of a million dollars, then it puts things into better perspective. Operational costs and administrative expenses are also relatively lower than other businesses with little or no staff required. Many internet entrepreneurs work from home which means that expenses like lighting and heating and office expenses which would normally be incurred in an office block, are saved. Running a business online gives great flexibility. This is because the business can be run from anywhere. An entrepreneur could be on the beach on holiday with her family and still be running her business normally. This flexibility helps the entrepreneur does as she pleases with her time. She may decide to work between 12 midnight and 6 am if that is her most productive hours. Online businesses can reap the rewards of free and cheap advertising, through videos, article marketing and social marketing. Even with more expensive advertising options like pay per click, due to the number of Internet users, to potential to grow your business is very high especially if you can effectively drive traffic to your website.

Disadvantages

Competition is high as increasingly people are becoming switched on to the advantages of running an online business and also more technology savvy and are growing their businesses. The number of people starting a business online is increasing at high levels and they are all competing for traffic which makes it harder to break through. The Internet is a very dynamic marketplace. Consumer tastes vary widely and change frequently. Therefore, by focusing on one business idea or income stream, the entrepreneur risks being left behind by new products and services as consumers chase the next best product or service. Even when the entrepreneur has a winning business model, competitors can easily copy it and therefore impact negatively on profits. Getting to grips with technology to sustain competitive advantage can be a limiting factor especially if the entrepreneur depends on himself and hires no staff. This disadvantage can be overcome by either outsourcing or employing staff full time or on contract basis. It may take time for the business to get off the ground as the entrepreneur builds his online presence and if the business is not run properly cash flow problems may hinder the success of the business. It is important that the marketing and other costs are very carefully budgeted for over a period to take into account the possibility that profits may take a while to materialise. Running an online business is empowering and can be profitable. A lot of these businesses fail because entrepreneurs are not mindful of the advantages and disadvantages and have not planned accordingly. While it is relatively easier and cheaper to start and grow an online business than a traditional bricks and mortar business, that advantage can also be an advantage as competitors enjoy the same benefits.

Top Ways to Turn Your Small Business Into a Business Empire

Top ways to turn your small business into a profitable business empire.

Small businesses are those businesses which may be started with small capital investments. There are millions of people who are running small or home businesses. Nearly 70% of newly started small businesses fail due to lack of capital, competitions and various other reasons.

Before we look into the reason for success or failure of small businesses let us look into some of the most successful businesses that were started with some powerful and innovative ideas. if you start any small business in a routine way then you may earn just hand to mouth. To take your small business on top you must provide something new and innovative.

How some of the ordinary people turned their small business into a global business empire:

(1). King c. Gillette: A traveling salesman found that his straight razor had dulled and it has become impossible for him to make a close shave. Many time his dulled razor use to cut his skin as there was no sharpness left so he started thinking about new safety razor. A new idea about making a twin blade razor was born in which disposable blade may be put and replaced. Even though many engineers rejected the idea but he continued to experiment and today Gillette have become a billion dollar company. He introduced a low cost, disposable blade that can make close and safe shave.

Summary: He faced a problem and wanted to find an innovative solution to that problem. Although he was a salesman with limited resources but he knew that idea can be turned into money. He realized that if his dreams can be realized then he can turn it into a profitable business empire. This is the power of innovative idea. An innovative idea can make unlimited wealth. Any small business can be turned into a big business empire if you try to introduce some new concepts.

(2). Tory Kumon: A high school mathematics teacher in Japan, Toru Kumon, became concerned because his second grade school son was bringing home poor grades in mathematics. Encouraged by his wife to find a better way to teach his son, Kumon began to examine the textbooks and exercises being used. Kumon felt that there were better ways and looked for a different method for his son. The Kumons worked together and while his wife supervised the home work of their son, Toru Kumon re-wrote the exercises and drills for his son, giving him a slightly more difficult set of problems every day. By the time the son had finished eighth grade, he was working through calculus problems, easily and correctly, and could handle work found on university entrance examinations.

Toru Kumon realized that if his son was having this problem, there would be other children in the same situation. Kumon then decided to take his methods to other parents whose children were having these same challenges. He did this by opening Kumon Learning Centers throughout Japan. Kumon was not without his critics, though. Members of the educational establishment were against him – primarily because it was not their idea. They could not refute the fact that the Kumon system works. Today kumon have more then 26000 centers in 46 countries. This is the power of a small and powerful idea!

Summary: Kumon saw a problem – poor academic performance and defined it as an opportunity – opportunity to create a learning system that would resolve the poor academic performance problems. After working with his son and finding something that work, he found he could provide this service to other parents that were having the same challenges. At the same time, he could create income for himself. He provided something of value and a lower cost than many of the alternatives.

(3) Amancio ortega: Amancio Ortega was born in the year 1936 in Spain. His father was a railway worker and his mother worked as a maid to support the family. Due to the financial problems that his family was facing, at the tender age of 13 he started working as a delivery boy at a shirt makers shop. Thereafter he worked for a lot of stores and tailors and closely studied as to how the products and cost of the products changed as they traveled from the manufacturer to the consumer. As a result of this study he became focused on the importance of getting the products directly to the consumer by eliminating the middleman. During his experience of working as a manager of a local clothing shop he realized that only rich people were able to afford high fashion clothes because of the high prices they came with. Having observed this, he was determined to manufacture high fashion clothes that were low priced and accessible to all. He continued to gain experience and knowledge while working until 1963 when he started his own company with just $ 25. He started designing and making fine bathrobes and started selling it to customers and also started supplying them at various stores. Later on with the profits that he earned with the help of this business he started his own factory. Today his personal worth is more then $ 20 billions. This is the power of innovative ideas on which a small business is developed into a business empire.

Let us try to shed some light on the innovative ideas that he used to turn his small business into a fortune.

(A) He realized that the high end fashion clothes were only accessible to rich people as only they could afford it. A major portion of the price margin was consumed by the middlemen. To eliminate this problem, he started creating high end fashion clothes or rather look-alike of top fashionable clothes for the masses at affordable prices by eliminating the middlemen. In this way then number of people who bought his clothes increased and in turn he became very popular.

Benefits to the consumer: Due to Amancio's innovative idea, the middle class people who could not normally afford costly and latest designs were able to avail these fashionable clothes at reasonable rates.

(B) Direct Retailing: Amancio realized that middle men like wholesalers, semi wholesalers were deciding the final selling prices of these clothes and thus they ended up being very costly. Thus he opened his own string of stores called ZARA where he passed the margin that was being taken by the middle men to the customers.

(C) When Amancio started his business; the industry standard was to introduce new fashion twice a year. Thus people had to wait for a very long span of time and would visit the shop only twice a year to buy the new fashionable clothes. Amancio introduced the unique concept of instant fashion by introducing latest designs and new fashions within 2-3 weeks. This in turn pulled people to his shops many times in a month. This also helped customers by bringing new designs to them and the shopkeepers were benefited too because of the constant visits by the customers.

(D) Modifying unsold designs: Some designs do not sell as much as the popular ones. What Amancio did was to change and alter the failed designs so that they would be sold. He did this by putting up new patterns and accessories on the old designs.

(E) Advantage of information technology: To know more about what type of designs sell and what type does not sell and also to know more about the unsold stocks, Amancio took advantage of information technology that allowed him to monitor the unsold inventories. This also helped him realize the actual taste of the customers.

Summary: Amancio ortega started a small business with just $ 25 but today his personal net worth is more then $ 20 billions. At the time he started his business there were already thousands of businessmen, designers, and established fashion houses but only he was able to make it to the top because he introduced something new in his small business and rest is history.

Most of the self made billionaires possessed or developed the following qualities to become rich and these are necessary for success in any business: They started with a small business and developed into a business empire. Some of the qualities required to develop a small business into a business empires are as follow.

1. A burning desire to become rich
2. A fixed goal and a sound business plan to materialize it.
3. The faith and persistence in your efforts and making the tough decision of never to give up even after many failures.
4. A practical plan of action
5. Developing the ability to organize information and creating something new out of it.
6. The ability to innovate
7. Working towards developing new ideas and innovations instead of worrying about the investments required for the business.
8. Compensating for lack of education with self education and mastering all specialized knowledge with practical experience.
9. Finding ways to make money without any capital
10. Trying to create something new that would provide additional benefits to the customers or to the industry.
11. They are never ashamed to take up even a small job so as to learn in and outs of the business and to sharpen their skills in the field.
12. The ability to turn even $ 1 into thousands.
13. Creates opportunities for themselves instead of waiting for them to happen
14. They mastered all the specialized knowledge that is required for the selected business and tried to learn everything that is necessary to make a fortune
15. Developed their ability to create the best.
16. Creates and develops only such things that have a demand or that will be sold for sure.
17. They are never afraid of competition and beat it with the help of better products.
18. They always think and plan 10-20 years ahead of the time
19. They develop a profitable idea to attract investment.
20. They start initially with a knowledge based or skill based business.
21. They learn how to think like a customer and constantly try to find ways to provide goods and services at a low cost and with high value.

Summary: whatever small businesses you want to start first of all make a research about the ideas that are being used by top and successful companies. Now try to find some loop holes or better solutions and try to introduce them in your small business.

A Profitable Leather Craft Business for You

If you are thinking of setting up a business why not consider leather crafts as your initial start up? It requires little investment and you can practically do it at home. All you need to do is get some leather craft kits and start with the basic and common leather things that you can easily sell.

The leather craft business is good because you would be making assorted things out of leather. These are the common things used everyday by most people like leather wallets, purses, belts, fashionable bracelets or necklaces. Most start up kits have pre-cut parts so all you have to do is sew them together as per instructions. Then you can add your personal touches like adding some adornment of glitter, beads or other pretty trimmings to make them unique.

Since you are starting with small items, you can do more of them. The idea is to work on them carefully and intricately. You can have them in different designs, colors and shapes. You can show your finished products to your friends. Usually word of mouth is a good method to spread your business around.

You can also join community fairs or handicraft exhibitions around your area. These are also good ways to advertise your products. You can also link up with a local franchise to sell your products.

Make use of the internet and make your own website about your lit. The internet is the fastest way to link to almost everywhere you want to showcase your products. Take pretty photographs and make good descriptions of your leather crafts so people would be interested in them.

As long as you make your crafts in good quality you will not fail in this business. Most people have a particular attraction to leather because of its versatility, durability and attractiveness. That alone can make your business prosper so keep those factors in mind.

Techniques for Naming Your Tutoring Business

Business name parts

Small businesses or new businesses often have two parts to their business names. The first part can be described as the unique part and the second part is the descriptive portion. Some people try to use only a unique name for their business without a descriptive part. This is generally a bad idea for small businesses because without the descriptive portion people will not know what services your business offers. Over time as your brand becomes well-known in your market you should be able to drop the descriptive portion of your name and people will still know what business you're in.

The unique portion of a business name takes many forms. The following list contains several variations of the unique portion that are often used for tutoring business names.

Aspirational

Tutoring businesses often use words related to success, reaching goals, and succeeding since these are some of the reasons people hire tutors. Words like "Elite", "Ivy", "A +", and so on are examples of aspirational words. Check the thesaurus for more ideas for your business. Words like these are great for a tutoring business name because people will begin to associate your business with success.

Geography

Tutoring companies often operate in specific geographic markets so including the name of your market in your company's name is a good strategy. For example, you might name your company "Grand Rapids Tutoring" if your company is based in Grand Rapids. A name that includes your location is an effective way to communicate to people in your area that you offer tutoring for their area.

Unique Value

Many businesses have a unique value proposition – something that distinguishes them from their competitors. If your business offers some kind of unique value to customers you might want to include this in your business name. Examples include words like "Traveling", "One-on-One", or "Total Math". Unique value propositions can be related to your method of teaching, grade level, subject you specialize in, etc.

Subject Specific

If your tutoring company specializes in a single subject you might want to create a unique name related to the subject in which you specialize. Unique names can include words in a foreign language you teach, terminology such as "Pi", or names of influential figures in your subject such as "da Vinci", "Pascal" or "Einstein".

Personal Name

Using your own last name in the name of your tutoring business is another useful technique for naming your business. Many successful companies have used this naming technique (Ie Kumon, Huntington Learning Centers in the United States, Kip McGrath in Australia. This technique can become even more effective if you are already well-known for your work in the education field.

The second part of your business name should be the descriptive portion. Including words such as tutoring, tutors, education, academy, learning, learning center, etc. The descriptive portion of your business name is what tells people what your company does. This is very important when your business is starting out since you want to begin establishing a link between the unique part of your business name and the descriptive portion in people's minds.

Tutoring Business Name Generator

You help the generate To some ideas for a tutoring business name, you may the find this useful name generator: Tutoring Business Name Generator

Conclusion

The naming techniques above should help you generate several ideas. By creating different combinations of the unique and descriptive portions you can create even more name variations. Create a list of your top ideas and ask your friends or coworkers which ones they like the best and you'll have a name that will help your business grow and establish a strong brand.

Grants For Starting A Catering Service

Starting a catering service requires some initial investment to get supplies, an equipped kitchen, advertising, and other business startup expenses. Of course, you do not need to start big, so you will not have too much startup costs, but it will be a good thing if you could find someone else to pay the initial money for you.

It is not a dream. With the right business grants you can make it happen. Every year the US government simply distributes millions of dollars in the form of free business grants. The government does little to advertise this as it would not be to its benefit to have everyone come to it for cash, but once you know where to look, it's easy to take your share of the pie.

Business grants come in various forms: federal, state, or local. Every grant has its own criteria and purpose. The problem is knowing where to look. A catering service will be great for some of these business grants.

To get a grant for your catering service you need to know how to write a killer application. You see, you're not the only one who wants to get their hands on some of the government's money. Competition is high. Not that this should deter you from applying to grants because most people have no idea how to write a good application, so that if you just know how to stand out, you'll be able to capitalize on some of that free grant money.

The great thing about grants is that you never ever have to give them back. As long as you use them to develop your business, the money is yours to keep. It's a great way to get the initial catering service investment. Take advantage of it.

Work From Home Success Story – Embroidery Business

In 1995 my wife decided she hated her day job. The pay was meager, the commute was terrible and most importantly she felt she could achieve more with her life. At the time I was a textile machine salesmen. I sold serious industrial textile equipment which ranged from 3 ton, 15 headed embroidery machines to smaller single head embroidery machines that you can easily run out of your garage. So one day I suggested she buy a used single head machine and our business was born.

We canvased the neighborhood for local business, schools, police and fire stations for people that wanted to have their custom logo embroidered on shirts, hats and polo shirts and we found that it was pretty easy to find business. In one year the business began to grow steadily and it became apparent that our single head embroidery machine was unable to keep up with production.

At this point we had to make a strategic decision. Do we invest more money and grow the business? Well, we bought a 6 head embroidery machine for $ 50,000.00 (which barely fit in our garage). The business grew and our new machine could keep pace with it quite well. We hired an employee to help run it as well.

I know what you are wondering. How much money did you make? I can tell you that there were months were we $ netted 9,000.00 per month, but that was working pretty hard and we started losing the work-life balance. Then my wife gave birth to two children and had to make another strategic decision about how hard we wanted to work. I had my own day job and was working with my wife late in the evening to help her get orders out the door. Something had to give, so this is what we decided to do.

We fired about 20% of our customers, starting with the customers that demanded net 30 and 60 day terms, and to be honest we also fired customers that were too demanding (and somewhat jerky). I am a nice guy, but I have to admit I took pleasure in firing some of these clients. The end result was we were able to still net around $ 60,000.o0 per year working on average 4 hours a day for some really nice companies that treated us with respect and paid their bills on time.

Flash forward to the present, we sold the 6 head and bought a newer, faster 4 head Barudan Embroidery Machine. We purchased it used for about $ 30,000.00. I know that seems expensive, but remember we bought the first machine, a single head, for about $ 8,000.00. If the barriers to entry in this business seem high to you … that's a good thing. It prevents everyone from being able to enter too. For example, you can get started in the screen print business for $ 1,000.00. However, look around in your neighborhood, you will quickly discover that screenprinters outnumber embroidery shops 5 to 1. Secondly, you might also notice that embroidered goods command a much higher price than screenprinted items.

The decision to stay small at not get too big panned out to be a great decision. China crushed the big embroidery shop business in this country. I am talking about business that I sold machinery to that had 10 or more 12 head embroidery machines and did major production. That business all was sent overseas which eventually forced me to have to find a new day job (I do not sell embroidery machines any more). But the small local shops stayed alive and thrived. Think about it; if you need 50 embroidered hats for you small business or high school team are you going to arrange a shipment from China, when I can turn that order around in 3 days for the price of $ 8.00 per hat? By the way the hats cost me $ 2 -3.00 a piece and take me about an hour to complete the order.

Let's do the math on that. $ 5.00 profit per hat x 50 hats = $ 250.00 gross profit.

If that hats cost $ 3.00 each that is a cost of $ 50 $ x 3 = $ 150 dollars cost of goods.

The net profit is $ 100.00 for one hours of work. I will work for $ 100.00 per hour anytime.

So that's my wife's work from home story. It's been a rewarding career for her that has enabled her to make money and still be a mother. There is another point to make here. Not every work from home opportunity has to be an online opportunity. There are still honest to goodness businesses that still make something in this country. God Bless America and the opportunity to earn a buck in this great country of ours!

That was 1995, today her business is still going strong (though the recession slowed it down a bit). The greatest thing about it was she was able to work at home, make money and raise two wonderful children at the same time. If you would like to ask questions about getting started in the embroidery business please leave a comment in this post. I am happy to tell you all about it.

Real Work Opportunities

5 Steps To Building A Profitable Home Internet Business In 2017

Building as profitable home internet business is not as complicated as you may think. You may be nervous about getting caught up with technical issues that seem impossible to understand. Or you might feel that you're too old, too young or too inexperienced. Or you may just not know where to start.

As long as you know what you want to sell and who you want to sell it to, you're ready to get started. Let's take a look at the 5 steps to building a profitable home internet business.

1. Get Your Website Online

With modern software and technology, building a website is not that difficult. You definitely do not have to start learning website coding or e-commerce programs. There are many online business systems that can be installed with a few clicks following step-by-step instructions. You can even outsource the whole set up if you feel that it's too much for you.

2. Get People To Visit Your Website

Your home internet businesses will only make money if you get traffic to your website. Traffic is basically the number of people who visit your website. There are two ways to generate website traffic. You can buy website traffic or you can generate free website traffic. When you buy website traffic, it's essentially paid advertising. It delivers instant results but the traffic stops as soon as you stop paying for it. So you have to ensure that you spend your money wisely. Free website traffic takes a little longer to generate, but once it starts, it can provide a regular flow of visitor traffic.

3. Provide Valuable Content For Free

It's highly unlikely that somebody will buy from you the first time that they visit your website. You have gone to a lot of effort to get them to visit your website in the first place and you do not want that work to go to waste. So, if you can obtain their email address, you can remain in contact with them. To encourage a website visitor to provide you with their email address, offer them something of value for free such a report, a discount or special offer. As long as it is relevant to your business and provides value.

4. Use Emails To Build A Relationship With Your Prospect

Email marketing is considered to be one of the most effective marketing strategies and you will need an email autoresponder. An autoresponder will automatically email your freebie when somebody requests it. It can then continue to send a pre-written series of emails to develop a relationship with your potential buyer.

5. Make Offers Or Recommendations

Email marketing is effective because you are providing regular and meaningful communications. The more value you provide, the more you will be seen as a trusted source of information. Then, when you make offers and recommendations about products and services to buy, your prospects are far more likely to buy from you because they trust your judgement.