Developing a Business Idea – Business Planning

Greatness is not a function of circumstance. Greatness, it turns out, is largely a matter of conscious choice, and discipline. Jim Collins

Life is full of choices and the right decision taken at the right time and executed also at the perfect hour can definitely bring success. Any business plan has to undergo three stages before it is actually executed.

    o birth of a business idea
    o developing the goals and strategy for that idea
    o creating the right ambiance and the perfect atmosphere to execute the idea

First let us consider discussing the birth of the business idea. Picking the right idea is again a most imperative choice. Many people just go by the crowd and decide to do any business which is considered as the hottest at that particular point of time. But certain things have to be speculated and analyzed before taking the first step.

    o do you think you can start and run your own business successfully
    o what are all your positive and negative aspects when it comes to real life skills and talents
    o how much investment can you possibly set aside or lend for this business opportunity
    o have you analyzed the market value or demand for the kind of business you have in mind
    o who is your target audience and will people actually accept my product or service
    o are there any competitors in this business and if so how much can I be different and capable to meet with this competition

Some ground work about the business idea is necessary and there is nothing wrong in discussing it with the forerunners in this field. Try to meet up with similar companies to find out the pros and cons of the business.

Once you come up with a business idea say to do some online marketing business then carefully draft the business strategy. Setting goals, and drafting the business plan as to the number of employees, office space, lawyers, accountants, office furniture etc is what will follow next. Getting license for the business, legal proceedings, tax factors etc is also very imperative step to go with. A business plan is like a road map to your business and it sets the right discipline in which your business will progress.

Every business should work towards achieving its long term and short term goals. Starting an online business might be less stressful financially but keep in mind that all online businesses are not very successful. It depends on what kind of business you want to do online. The least you should is the tricks of the trade. So equip yourself with the updated and hands on knowledge about the business you wish to start. Note down the marketing strategy for your product or service. Marketing has become a deciding factor of a business these days. Media promotion, web site promotion and other marketing techniques should be optimized for better visibility of the business prospects. The more people see your company’s name flashing before them the more hits you might get and this is where you should strive to make every viewer a possible customer.

A professional business plan however should contain the following,

    o Purpose of the business
    o Funds needed
    o Specifications about the product or services that your business will be dealing
    o Management members with advisors both legal and professional
    o Organization structure
    o Division of power
    o Responsibilities
    o Vision, goals, key strategies and objectives
    o Marketing strategy
    o Promotional methods like resumes, brochures, articles and logos
    o Location and office layout

Thus a complete blue print of the business idea should first be created theoretically before actually moving forward with major decisions. This blue print will give you a picture of what to expect and thus enable you to focus on the lines of the business plan that you have made. Vision is already created and hence the steps towards making this great vision come true are not very far away.

How to Ensure Your Work From Home Ideas Business is Legitimate

1. Do not start any work from home program until you have a personal referral. If you know somebody who is working a program and getting paid like they are supposed to that’s a good sign the program is legitimate.

This is where social networking really comes into play. You can meet people on the Internet and get to know them and trust them as friends. If they are doing something that is making them money they’re going to naturally tell you about it.

This is a vital source of work from home ideas that are often times legitimate. Many times even if you are not looking for something new you may join them just because of their recommendation.

2. Look for ideas that have longevity to them. For example we know that affiliate marketing is a legitimate business model.

However there are new affiliate programs popping up every day. How do you know which ones you can trust?

A good place to start is with some of the largest affiliate programs that have been around for a while. For example selling digital information products from Clickbank is a legitimate way to make a lot of money.

Amazon.com is credited with starting one of the first affiliate programs online. It has now been around for over 15 years and is certainly a legitimate way to make money working from home.

Is interesting how many of the largest companies in the world have affiliate programs now. Did you know you can even join an affiliate program with Wal-Mart? This certainly is a legitimate opportunity!

3. Starting a blog with Google is a work from home idea that many people begin with. Google owns Blogger.com and is a fast way to get your blog online.

They also offer an affiliate program known as Google AdSense which pays out millions of dollars in commissions every year. You will find this an easy way to make money every day and blogging can be a lot of fun if your topic is something that interests you.

These are several ideas on how to ensure your work from home ideas are legitimate. Personal referrals, programs with longevity, and going with brand names are all a safe bet on the Internet today.

Idea Businesses – Becoming a Consultant

Opinions wanted. Huge sums of money paid. Very little work required. If that was a job description, would you apply? Chances are, you answered yes.

Literally, your job is to discuss. You heard me right. Do you have an artistic talent? Become a media consultant. Besides your base contract, which is usually a heft amount, you’ll earn a rebate, usually 15% of their money that you spend on advertising. So if you get hired for a month’s project and charge $2000, and you end up spending $50,000 on television and radio advertisements, your rebate alone is $7500.

There are two keys to setting up a consulting business – credibility and knowledge. The credibility is more important of the two. If you have a friend with their own business, get them to hire you on for a modest amount, and use it as a learning opportunity – and a reference. This gives you a chance to “break in” to the field, and show a track record of performance worthy of being hired.

When I started consulting about 4 years ago, I cut my teeth in political consulting. I had volunteered on a few political campaigns (credibility), and had legitimately acquired the contact information for several vendors. With a stack of business cards and a little bit of know-how, I have literally been able to charge thousands of dollars to people for short term work – but valuable work nonetheless!

Once you’ve started, make sure everyone you know is aware of your services. People like to have “I know a guy” conversations. Make sure that you’re the guy whose name is going to be dropped, and watch the referrals roll in!