The Risky Economy
A job search under any circumstances is no treat – rewriting your resume at least a dozen times, job searching on the Internet day after day, and landing maybe two interviews for every hundred openings you dig up – but in a shaky economy it can be downright brutal.  Business revenue declines, which causes companies to cut payroll, and then the lack of personnel drives frustrated customers away.  It’s a vicious cycle.  But why get trapped in that rat race if you don’t have to?

Starting a Business Trumps Job Searching
Looking for jobs can be a very shortsighted process.  Long gone are the days when people worked at the same company for decades and retired with a nice pension.  Since at least the 1980s, most professionals change jobs every three to four years, and it’s usually the employer’s choice rather than the worker’s.  Starting a business can be a scary proposition – especially if you come to the process with a lot of unanswered questions in your mind – but a job search can take up just as much time, effort and even capital.  Besides, here is all you’re left with at the end of that road – just another job that you might hold for five years, after which it’s the same process all over again, except you’re now five years older!

Four Reasons to Drop Job Searching for Entrepreneurship
If you have reached the stage in your career where you’re earning a comfortable living as an executive or someone with skills honed over many years in business, there are many strikes against you on the job search front.  Here are four reasons why starting a business may better serve your long-term financial goals:

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The American Recovery and Reinvestment Act of 2009 …
… Is the official name of what is known among the general population as Obama’s Stimulus Package, occasionally called “The Stim” by various news talking heads – the ones who are clever, that is.  An Obama Small Business plan does not appear to be in the works, but even critics acknowledge that the Obama Stimulus Plan contains a number of “good news” elements for small business owners, especially in certain sectors.  The entire package totals $787 billion, and this amount is arrived at by combining the value of tax cuts, direct cash infusions, and loan guarantees over and above those that already exist.

Barack Obama’s Stimulus Package – Obama For Small Business
In numerous stump speeches during the 2008 election process, Barack Obama consistently came out in favor of locally owned businesses.  That concern has carried over to his presidency.  Here are some elements of the Obama Stimulus that directly benefit small businesses:

• Larger loan guarantees – The U.S.

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Leaving the Corporate Rat Race
Quite a few nine-to-fivers express an interest to buy a business - no more bosses looking over their shoulder and no more asking permission to take a day off for personal reasons.  These days, however, people are just as likely to be pushed out of Corporate America as opposed to leaving of their own volition.  With businesses going bankrupt or simply cutting costs, worker layoffs are reaching a level not seen since the early 1980s.  Whatever the reason, many of these ex-corporatists are turning into entrepreneurs, anxious to make their own way in life and achieve financial success.  The biggest question is probably, “What business to buy?”  There is no single best answer, as every person’s experience, ability and finances are different.  But being a corporate dropout does not mean your business life is over - in many ways, it’s just starting!

Best Business to Buy – Some Criteria Worth Considering
Striking out on your own as a business owner can be scary, but the rewards are great.  Your first thoughts should revolve around what type of business to buy.  There are five elements to consider before looking any further:

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Plenty of Economic Challenges
The Dow Jones Industrial Average continues to show erratic behavior and the unemployment picture remains bleak despite recent government intervention.  In spite of disappointing economic news that never seems to end, there are still some terrific opportunities out there for entrepreneurs who want to buy an existing small business.  Uncertain times for some can be advantageous times for others—it’s all in how you approach the situation.  Here are five secrets to finding that great business.  Of course, the publication of this article sort of blows the cover off that, right?  Well, try to keep it under your hat, if you can.

1. Hunt down a recession-proof business
Even in poor economic times, plenty of businesses stay ahead of the game—and some even do better.  By choosing a business in a field whose products or services are in demand no matter what the housing or job markets are doing, you will be making a smart decision.  Here are just a few areas worth considering:

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Social networking a.k.a. the likes of Twitter, Facebook, Ecademy, LinkedIn and so on have become the new marketing buzzwords. Everyone is interested in finding out about them and knowing how to use them to get business in through the door. 

So, if you’re interested and want to use them in your business, where should you start? Here’s my top ten tips: 

1)    Don’t expect to see clients immediately. Social networking is a long term strategy. It’s about relationship building. The more people see you adding information and content to online networking sites, the more people will get to know you and want to do business with you. 

2)    New social networking sites are springing up all the time, so don’t expect to keep up with all of them. Choose 3-4 to keep on top of and work on these. That means setting up your profile and regular posting on there so that people can get to know you. 

3)    Write a generic profile of your business and about you on Word and then use it on all of the social networking sites you’re going to try out. That way, if you get invited to start using another one, your profile is already written. 

4)    Link your social networking sites as much as possible. By that I mean, use sites like www.ping.fm to help you manage all of your sites. That way, you can post on one site i.e. Twitter and have the content automatically sent to all of the other social networking sites you’re using. 

5)    Write as much content as you can. Put your articles on there, give your opinion or views on topics and write down tips. You can write absolutely anything on social networking sites, so get creative. 

6)    Write as often as you can. It’s no good setting everything up and then ignoring it.

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Shaky Financial Times
Some news pundits have described our current dire economic circumstances – not literally, perhaps, but in similar tone – as if the Great Depression of the 1930s was paired with Europe’s suffering at the hands of the bubonic plague, plus an invasion of the Mongol Horde thrown in for good measure.  While few of us are riding high these days, nothing is ever as bleak the Wall Street Journal, Financial Times, or U.S. News & World Report makes it out to be.  Despite the seemingly never-ending stories of job layoffs, personal bankruptcies and home foreclosures, these can be exceptionally rewarding times for small business owners.

Darwin Was Right – About One Thing, Anyway
Although the theory Charles Darwin put forth regarding the extinction of species – he claimed it happened slowly over millennia – has been pretty much debunked by scientists identifying at least five Great Extinctions, each taking place quite suddenly, the scholarly evolutionist was correct about the survival of the fittest, at least as it concerns business.  In difficult financial times, money is tight at the consumer level.  People are especially tight-fisted when it comes to deciding where to spend their cash.  A company that trims unnecessary spending, provides superior customer service, refuses to cut back on product quality, and finds more efficient ways to operate, will stand to capture a solid share of the market.  Establishments that give off the stench of despair, alienate their employees, or continue to spend too much money on non-essentials, will probably fail to survive.  Make smart decisions and you will avoid becoming the modern-day equivalent of the dodo bird or the passenger pigeon.

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Personal Liability
We all have responsibilities when it comes to living in a society.  If you own a home, you must maintain it properly to avoid affecting the value of other properties in your neighborhood.  If you drive a car, you must operate it in a reasonable manner to make sure you are putting no one at risk of injury.  If you own a company, you must conduct business in a fair and safe manner.  Failing to abide by these societal expectations can cost you, both personally and professionally. The purpose of insurance is to protect the person or the business entity from financial harm.

Business Insurance Plan
Owners of a business should have a plan to protect the assets of the company as well as those of the individual owners.  While there are many types of insurance for small business, here are the primary categories:

• Property insurance
• Liability insurance
• Health insurance

Business Property Insurance
Property insurance offers protection against loss or damage, whether by theft, natural disaster, or accident.  A policy will protect both the physical building and its contents, and most insurers will cover items that are lost or stolen even after they have been removed from the premises—a laptop computer that accompanies you on a business trip, for example.

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Part-Time Becomes Full-Time
These days, many of us choose to work more than one job.  Oftentimes this involves a full-time job plus something part-time.  The 40-hour position pays most of the bills, provides needed benefits, and offers a stable work environment.  The auxiliary job might simply be a way to put more money into your pocket, but more and more it represents the beginnings of a dream career as a business owner.  At some point, your success in building that part-time work into something self-sustaining will cause you to make two of life’s tough employment choices—when do I quit my regular job, and how do I leave it without damaging the relationships I have built there?

The Great Quit-Work Fantasy is a Fallacy
For any budding entrepreneur preparing to take that giant leap from worker to business owner, one of the fantasies involves charging into the boss’s office, shouting out all your past grievances, and storming off by tossing an “I quit!” over your shoulder before slamming the door behind you.  That scenario is fine for the movies, but it is likely the first mistake you would make as your own boss.

Every Business Relationship Has Value
As an employee, you are involved in four distinct relationships every workday.  These are with:
1. Employer / supervisor
2. Coworkers
3. Clients
4. The company itself

Each one of these associations has value to you as a future business owner.  Your employer is someone who can serve as an excellent reference or advisor in your new position.  Your coworkers can send you business leads or recommend your venture to their friends.  The people doing business with your existing company fall into a similar category.  And the company you are leaving is a potential future customer.

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Ready to Move On
Very few people start a business with the expectation of running it forever.  Although there is always the possibility that your children will take over once you decide to retire, most small business owners are anxious to cash out and live the good life – or else sink some of that newly acquired money into another venture.  Knowing when and how to sell your small business – and doing it the right way by avoiding the obvious pitfalls – can make the difference between turning a terrific profit or a so-so one, and perhaps failing to sell it at all.

Make a List and Check It Twice – And Three Times Is Better
There are many factors to consider once you have decided to sell your small business.  Here is a list of four top-line questions, each of which will be answered below:

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Stability, Benefits and Support
If you share the American dream of running your own business some day, chances are you have given some thought to the challenges that await you.  Since most of us are not independently wealthy or have a trust fund to fall back on—and knowing that it takes time to get a business off the ground and into profit mode—we need to have a reliable income stream.  Thousands of people every year start their own business while continuing to work a full-time job.  A regular paycheck and guaranteed benefits such as health care not only provide financial stability, but also give you enough peace of mind to devote positive energy toward your entrepreneurial goals.

Boundaries and Time Management
Very few companies prohibit their employees from having a business on the side, provided you will not be a direct competitor.  So long as you continue to work just as hard in your full-time position, there is no reason not to make the first move in what may prove to be your best-ever business decision—to become your own boss.  Managing the time you devote to that start-up is crucial, especially if you have other commitments to look after, such as raising a family.  Some companies expect you to tell them when you begin to run a side business, while others make no such demand on their workers.  Your employee handbook is usually a good place to find any such restrictions or requirements.

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Saving the Economy

One of the toughest domestic tasks to face the Obama Administration during its first 100 days involved getting the U.S. economy back on track.  The federal stimulus package has a number of prime elements to it, each one a broad overview designed to repair what many people consider to be damaged fiscal policy.  These factors include:

• Create New Jobs
• Move toward a greener (more environmentally responsible) economy
• Improve the country’s infrastructure
• Improve all levels of education
• Offer greater assistance to the unemployed
• Provide tax relief for 95 percent of Americans
   

Frozen Assets

Major corporations, notably those in the financial and automotive sectors, have received billions of dollars of taxpayer money in the form of loans and outright gifts.  The credit crunch that resulted from the collapse of a number of banks has had a devastating effect on the ability of American small business to conduct, well, business.  These companies rely on short- and medium-term financing to do everything from providing payroll relief to offering bridge loans for ongoing operations to funding new construction or remodeling.  Because so many banks are loaded down with “toxic assets”—loans that are unlikely to ever get paid back—they have no way to free up capital to provide new loans to the companies that need them.

Proposing a Small-Business “Bailout”

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Buying a franchise is undoubtedly an excellent way to get your first taste of business and a first chance to get your foot on the entrepreneurial ladder. Getting a start in business can be the hardest thing to do if you are at a loss as to where to begin or just do not have the means of setting up your own business without a little backing. As such, a franchise is a great place to start.

A franchise is effectively a big company with an established brand that has been expanded by budding entrepreneurs. A franchisor is the business in question and the franchisee is the budding businessperson that takes on a sector of that franchise. Subway is a great example of a successful franchise, although the franchise available to you may be a food company or a retail outlet or any other form of store. You will choose from those available and then meet the prospective franchisor to discuss your prospects further. The franchisor would want to know whether you are able to make a success of your opportunity, and you should have peace of mind that buying into the franchise is in your best interests.

As such, the first meeting is a big deal. It is important that you make a good impression but obtain peace of mind, and so the tips below may help you when you meet a prospective franchisor:

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Effective communication has always been an important factor in career success, and the role of writing is more important today that ever before. The ability to write is one of the most important communication skills in the modern business world. Because so much business communication takes place via written methods of communication, writing skills are essential in virtually every field.

While it’s true that some people are naturally talented when it comes to writing, it’s a fact that writing skills can be learned. You don’t have to be a creative writing guru to create professional business documentation. Effective business writing involves the proper use of grammar, language, tone, and style. These skills can be improved with proper training and practice.

5 Reasons to Brush Up Your Business Writing Skills
There are many reasons to focus on improving your writing skills, particularly if career advancement is something that you are striving to accomplish.

1. Increasing Role of Writing in the Workplace
Historically, writing was viewed as a very formal type of workplace communication, taking the form of letters, reports, and other detailed documentation. Today, a great deal of customer and co-worker communication takes place via e-mail, instant messenger, text messages, and more. Many times, modern workers engage in written communication more than spoken interactions.

2. Writing Skills Reflect Professionalism
It’s a fact that there’s a strong association between writing skills and professionalism. People who are able to write clear, concise, and effective business messages tend to be viewed more favorably in the workplace than those who are less skilled in this area. To be seen as competent, the written messages that you create need to reflect both solid substance and proper form.

3.

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They say that there is no better option than buying a business that is already up and running, and to a degree that is true. When thinking about buying a car wash business there are several benefits and several drawbacks as well.  The decision of buying a car wash business is a very important decision, for both you and your family. Even though this is considered to be a small enterprise, you are still talking about a relatively large investment.  This decision may seriously affect not only your life, but also the lives of your family. Most business consultants suggest that before making a major decision such as that of buying an existing car wash you should find out everything you can about the business. Think about the time and the type of commitment you will have to make to such an endeavor.

Check out all Aspects of the Car Wash First
Look at the location where the car wash is. Is it a high profile location? Is there a lot of traffic? Does it have a lot of visibility? High visibility is a very important element to the success of a car wash business. Check to see that the car wash for sale has all the necessary permits, and this can be verified at the city or county offices. Go to the office that gives out business licenses, and make sure that everything is in order.

What kind of equipment does the car wash have and in what condition is it in? A fully automated car wash will have more equipment than a self service car wash, and the condition of that equipment is a deciding factor on the agreed upon price for the business. Ask to see employees’ records. Find out what they are like, and what kind of service they give the customer.

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I have summarised below the process that we use when acting as broker working for the buy side.  Although, the following assumes you will use a broker, you could consider following this process yourself, but I would warn you of two key things:
 
• Do not underestimate the time and effort absorbed by the buying process and recognise that it will divert you from running your own business with potentially damaging results.
• The process of negotiation involved in buying a business can get emotional and personal, risking damage to the relationship with the seller who will become your new partner or employee.

The main steps in the process are:

• Decide what you want to buy and why – Of these, why is the most important and it will feed into deciding what you will look for as targets.  What do you expect the purchase to do for you?  What will the purchase do that you cannot do without it? When considering the cost of the acquisition, you must also understand what else you could do with the money and then compare the returns that you will get from the different investment strategies always considering the risk profiles of each. 
• Finding targets -  The first stage helps you create a profile of the ideal target; business sector and location, customer base, offerings that serve a defined gap in your own armoury, revenue and profit ranges, private or public status, etc. Using the profile, identify potential targets that might match it.  Brokers do this through a combination of their existing network of contacts, recommenders and introducers, and specific searches using publicly available information.  They will also use additional sources of information such as memberships of trade associations, or attendees at appropriate trade fairs.

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Adjust your clocks as the world of work is changing. People in their thousands are heading home from the day job to build a business at nights and weekends. It’s what we call the 5 to 9 economy and it’s a great way of starting a business as it means low cost and low risk. Are you interested in joining this growing group of part-time and spare-room entrepreneurs?

Starting up a business in your spare time is, I would say, the best way to start. You give yourself time to research the market, test out your products & services, build a presence on the web and, critically, make some sales. And you can do all of this whilst holding down a job that continues to pay the bills and cover your overheads.

Consider a few small investments to get you going:

Find dedicated space in the house - it’s important to keep home as a place to which you return from work and unwind so find a dedicated space / room which becomes your home office and in which you can comfortably be in ‘building my business’ mode.

Technology - a growing range of products are designed to help the 5 to 9 entrepreneur. Create a home on the web through a blogging tool like blogger.com or wordpress.com, sell your products through sales platforms such as etsy.com and keep in contact with customers with a BlackBerry and follow-me numbers. These products and gadgets mean you can keep in regular contact with your business in a way that’s not detrimental to your job.

Develop relationships - use your time to develop relationships with possible partners, suppliers and an all-round support network. Much of this can be done online by visiting business sites and industry-specific sites where you can keep an eye on new ideas coming to market and follow what customers are buying. 

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The motivations for buying a business are many. A common reason these days is that the person has been retrenched. He or she may be over the age of 40 and the chances of obtaining further employment are slim. He or she will often have received substantial severance pay. To put it bluntly, the person is “buying” a job. Another reason is that the person may be a married woman whose children have grown up and she wants to return to the work-force. Because of a lack of skills, the only employment avenues open to her may be menial jobs like cleaner etc. Running one’s own shop looks a much more attractive proposition. Another group will comprise those who cannot stand having a boss and who want independence and who want to able to do their own thing.

How do you start? First of all, you must find what skills or aptitudes you have. It is a sad fact that 80% of all small businesses fail in the first five years. Lack of management ability plays a big part in these failures. What have you worked at in the past five years? If you worked in a shop or store, then buying a retail shop might be appropriate. If you worked in an office, then your choices are more limited. You could start or buy a secretarial agency. What are your hobbies? If you like gardening, perhaps buying a plant nursery might be appropriate. If you have worked at home for the past 20 years, you may think that you have no skills. But how about a child-minding business? Or a cleaning business? You can also acquire the necessary skills by attending night-classes.

A developing trend over the past 30 years has been for a person to buy a franchise. A good franchisor will show you the ropes and train you.

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We are all self-employed; even as employees of a firm, we are still primarily personal career managers.

Many people equate being self-employed with being an entrepreneur. We suggest that few of us are entrepreneurs, but all of us are self-employed. To make the distinction, let us explore the requirements of entrepreneurship.

Entrepreneurship is generally characterized by some type of innovation, a significant investment, and a strategy that values expansion. The entrepreneur is often quite different in mindset from a manager, who is generally charged with using existing resources to make an existing business run well. The roles of entrepreneur and manager are not necessarily incompatible, but entrepreneurs are seldom patient enough to be good managers.

Mindset of an entrepreneur

It is often instructive to analyze the experiences that have formed our attitudes toward entrepreneurship. A recent study showed that 70% of business startups were by a person who had an entrepreneurial parent.

The U.S. Small Business Administration has developed a Checklist for Going into Business that leads the prospective entrepreneur through a skills inventory that includes supervisory and/or managerial experience, business education, knowledge about the specific business of interest, and willingness to acquire the missing necessary skills. A commitment to filling any knowledge or experience gap is a very positive indicator of success.

Personal characteristics required, according to the SBA, include leadership, decisiveness, and competitiveness. Important factors in personal style include will power, and self-discipline, comfort with the planning process, and with working with others. Can you objectively rate yourself in these dimensions?

Peter F.

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GOAL SETTING

PART TWO

BEGIN WITH THE END IN MIND:
Are you a goal setter? If you are not I hope you will be after you read this. Did you know that it is a proven fact that if you set a reasonable goal and read it two times a day that it is almost impossible that you will not accomplish your goal. If it is that simple why don’t we all do it? Well, who ever taught us how to do it? We have all set “NEW YEARS RESOLUTIONS”. That is not what I am talking about here. I am talking about VISUALIZATION. I am talking about doing something about it not just resolving to do something about it.

GOAL SETTING – WHY DO IT:
Well first let me just give you a couple of examples to inspire you on. Several years ago there was an East German ice skater practicing at the Olympics. The lights went out and when they came back on SHE WAS STILL SKATING. Everyone asked her how she was able to skate in the dark. She said the lights made no difference to her. She and so VISUALIZED her routine in her mind that she could do it with the lights on or with the lights off. She knew every move perfect. Every time to start and stop, to slow and speed up. She could skate the routine best in her mind. That changed the entire Olympic world. After that they began to study the East German teams and realized that is why they were all winning so many gold metals. Remember that? WHY? Because they used visualization. They did it in their minds before they ever did it on the field.

Another example: In 1957 they took a survey of the graduating class at Yale University. One of the questions they ask in the survey was if they had written goals. Only 3% of the class said that they had written goals. They then looked up the surviving members of that graduating class 20 years later. Guess what.

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GOAL SETTING

PART ONE

Learning How To Dream PEOPLE DON’T KNOW HOW TO DREAM:
One of the main focus points of my life is helping other people set and achieve goals. It pains me when I see someone struggling and not able to be all that they were meant to be. Goal setting works! It just simply works. Yet we know that only about 3% of the people in the world set goals. WHY? I have studied that phenomena a lot. I think I know at least part of the answer. It is because some people do not have the ability to dream.

LIFE’S WHIRL POOL OF INDICISION:
Many people are just living day to day. They do not believe that they can have anything better. They do not have a plan to find anything better. But more than that, THEY DO NOT KNOW WHAT TO WANT. That is one reason they do not set goals. They don’t know what to want. Does that sound silly? They would set goals, but they just don’t know what they want to do or be. They are caught in what I call “the whirl pool of indecision”. Does this sound familiar to you? If it does I can show you how to break out of the whirl pool of indecision and get going in a set direction for improving your circumstances. I can help you break out of this “round and round we go” life style. I can help you do that by helping you LEARN HOW TO DREAM. Want to know how?

SUCCESS WORKSHOPS NOT SEMINARS:
Well actually it is quite simple as far as what to do. Actually doing it, on the other hand, is not so easy. In fact it is not something you can do in one day. You may have noticed by now that I do not call the presentations that I give “SEMINARS”. I call them “Success Workshops”. Why workshops rather than seminars? Because when you come to a Success Workshop you can not just sit and listen like you do in a seminar. You have to work.

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