Awareness Can Lead To The Success Of Your Home Business

By John Fortner

We would like to think that our home businesses belong to us and that we have total control over our enterprises. For the most part, this is an accurate statement. The reality is that our work from home ventures are directed by the rules and regulations that are designed by the government. We create and develop our home based businesses under the guidelines established by Uncle Sam.



We want to believe that in a democratic economy our home businesses are unrestricted in the execution of daily operations. In addition, we desire to think that we have complete control over the cost that is placed on the goods and services that we offer. However, the reality is that the government still exercises some regulation over the prices that are acceptable and the prices that are not acceptable. This brings the concept of price control into home businesses and brick and mortar stores.



Government uses different policies to control the prices of goods and services in our economy. Two of these programs include the price floor and the price ceiling. Basically, the price floor is defined as the legal minimum price that products or services can be sold. Conversely, the price ceiling is described as the legal maximum price that goods or services can be purchased. These strategies are established for a reason. A better understanding of how these methods affect our economy might help improve the formula for your work at home business success.



The minimum wage is a good example of the reasoning behind the idea for price control. The minimum wage can be described as a price floor because this is the least salary per hour that employers can pay for the services of their employees. Consider for a moment the possibility that there is no price floor for worker’s wages. This might create a business environment that is marked by disorder. The first area that would suffer is production. The employee might experience dissatisfaction with their employer over the salary being paid for the amount of work that has to be delivered. A minimum wage provides a limit where security and stability for the worker, the company and our economy can develop.



A good example of a price ceiling would be the rental fee. In some cities, the government uses rent control to limit the maximum fee that landlords can charge their tenants. This enables the cost of the real estate properties in that area to maintain a sort of stability in price. An opportunity is provided for the middle-class and the poor to raise their standard of living. There are many advantages to rent control for the economy but there are also some hindrances. Price ceiling might prevent cities from reaching their potential development because investment could be limited as well.



There are several mechanisms in government that enable the business environment to function smoothly without many interruptions. It is also important to realize that these systems influence our home businesses directly and indirectly. Our responsibility is to be aware of the laws that impact the opportunity to make money online, develop a home based business or create a brick and mortar store.



Do price floor and price ceiling have that much of an impact on your home based business? Probably not. But a deeper understanding of economy and the rules and regulations of our government can help you make informed decisions concerning your work from home venture. The goal that each one of us strives for is success. The accomplishments of our home businesses will come sooner if we stay informed about every aspect of the business economy.



“Always bear in mind that your own resolution to success is more important than any other one thing.”



About the Author: John Fortner lives in Oregon and works from his home through his online pursuits. He is the owner of Best-Income Opportunities which offers free information and proven opportunities for creating work at home businesses. To learn more about this topic please visit his website at: http://www.best-incomeopportunities.com/ To receive free information for starting a home business please go to: http://www.Best-IncomeOpportunities.com/optin.html



Source: http://www.isnare.com/

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6 Highly Effective Marketing Strategies for Small Businesses

6 Highly Effective Marketing Strategies for Small Businesses by Duncan Brodie

All small businesses have a passion or desire to make a real difference through the products and/or services they offer. For many marketing is an area of real challenge. Even if you actively marketed on behalf of your business when in employment, it some how feels different when you are marketing for your own business. As a small business owner myself who does not have a background, there are a number of strategies that I have found to be highly effective personally or for others.



1. Utilising contacts



When you start out in business, the initial challenge is to get some clients. So often people start with a blank piece of paper and forget about all of the contacts they have made in the past through work and socially.



By listing all of these people you can probably identify 100 people who you can drop a letter or e-mail to let them know what you are up to and asking them to look out for any opportunities. You might even meet some for lunch or coffee. This is what I did to get my first 3 clients.



2. Focussed networking



There are plenty of opportunities to network. Some of it is very structured like BNI while there are other events that are less structured and more informal. What is vitally important is to find networking events that allow you to connect with your target clients. For example, if your target market is female business owners, then a specific networking events aimed at that market will be more focussed networking. I work with professionals so a branch meeting for accountants is an excellent place to network.



3. Writing



If you enjoy writing and sharing your knowledge and insights, writing can be a highly effective part of your marketing activity. As well as magazines, local papers and professional journals, there are now lots of options for submitting articles online. One of the real benefits of online articles is that they give you exposure to a much wider audience than a local or national publication.



4. Speaking



If you are a consultant, coach, trainer, accountant, lawyer to name a few, speaking can be a highly cost effective and time efficient way of marketing. Yes it takes some time to pull together a speech but you can use it over and over again. The other major benefit is that your marketing is one to many rather than one to a few with networking.

5. Blogging



This is not one of the strategies that I have used myself but is incredibly popular. Some people just blog while there are others who combine a blog with a podcast.



6. Trade shows and exhibitions



With trade shows and exhibitions you can either decide to exhibit or just even visit. This can be one of the more expensive options but can be highly valuable for product based businesses or service businesses that are well understood like telemarketing or banking.



There are numerous options open to you when it comes to marketing your business. Get creative and start identifying at least 3 channels to market that will have the greatest impact for your business.


Duncan Brodie of Goals and Achievements (G&A) works with professionals and progressive organisations who want to achieve more success. Sign up for his free e-course and monthly newsletter at http://www.goalsandachievements.co.uk/


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3 Essential Tips For Starting a Business

3 Essential Tips For Starting a Business
by Spencer Ray

Many things should be considered when starting a business. Explaining all the considerations is beyond the scope of this article. However, one vital component of a successful business is a good business plan that considers Market Potential, Competition, and Strategy.

Have a Plan

First and foremost, when starting a business you need a plan. It doesn’t necessarily need to be a full, written out business plan; however, you should jot down your ideas. Some items to consider are the company’s: Market Potential, Competition, and Strategy.

Market Potential

First, you need to consider whether or not you can make any money with your business. You may have a great idea, but maybe no one can realistically use it, or they don’t want it, or it costs too much. For example, a company called WebVan, decided they would allow people to order anything (bubble gum, t-shirts, pizza, books, groceries), really anything from their website and they would deliver it to your door. They spent hundreds of millions of dollars and opened nationwide. The company lasted less than a year. Why? Because the the market potential was small. The company creators did not account for the reality that they would spend more delivering a pack of gum than they would make from selling it!

Competition

Second, you must consider who you are competing against. If you have created a new and better macaroni and cheese dinner and you want to sell it in Wal-mart; then you have fierce competition. Kraft is a HUGE company and they will squash you before anyone ever tastes your delicious invention.

However, don’t let competition discourage you from developing a good idea. Just because there are lots of janitors, doesn’t mean that you can’t beat them out. The key to overcoming your competition is a good business strategy.

Strategy

Strategy really defines how you will be different from your competition. How will you appeal to your customers? Will you be a low price leader (like Wal-mart)? Will you have the perception of best quality (like Tiffany diamonds)? Will you provide the best service (like Nordstroms)? These are the three main strategies that companies use. There are lots of other strategies that you can utilize, but the key is developing a way that you will be different from your competition.

In conclusion, starting a business is a viable way to build your personal wealth. In starting a business, it is essential that you have a plan that considers the market potential, competition, and strategy.

Take the 30 day Financial Challenge at Keyblast.com! This article is a small portion of the 30-day financial challenge. To access lots of free information, tools, and to see what the challenge is all about, visit Keyblast.com

Spencer has a BA in Finance, an MBA, and is currently a Commercial Banker advising Business owners on Business and Personal financial issues.

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