Web Power Mall

Posts Tagged ‘start your own business’

Have you recently been downsized?

Have you found that this recessionary economy makes it very difficult to find a new job to replace your old one?

Present Situation

If so, you have lots of company.  December 2007 marks the official beginning of this recession, and since then, more than 5.7 million jobs have disappeared.  According to the Associated Press (AP), after the May 8th release of the April, 2009 unemployment numbers:

• 13.7 million individuals were unemployed in April, 2009, and that was the biggest number since 1948
• 539,000 jobs were lost in April alone
• 8.9% unemployment (the highest since September, 1983), but if those who’ve been laid off and just given up or taken part-time work, are included, that number jumps to 15.8% – the highest since 1994

If you’ve been out of work for more than a month, you may be feeling depressed, or maybe even a little overwhelmed as you watch the pages of the calendar turn, with still no work on the horizon.  This is not just a short-term issue, there are long-term considerations as well (e.g., retirement, college for your kids).

There are basically three choices in this situation:

1. Panic
2. Keep doing what you’ve always been doing (the same things that haven’t yet found you a new job), or
3. Try something different

Option 1:  Panic

The first option, panic, is completely counter-productive, and ought to be avoided at all costs.  A little fear is an excellent motivator – it can help us get out of a dangerous situation by energizing us to either run or fight. Panic is negative and counterproductive – it only reduces our ability to think creatively and respond appropriately to life’s challenges.

Option 2:  Keep Doing What You’ve Been Doing

If doing what you have been doing had been successful for you, you wouldn’t be reading this article right now.  Unless you’re willing to try something new, you’ll end up exactly where you are.

Good people have been unemployed for six months or more in this economy.  What results have they achieved – despite answering countless help wanted ads and sending out a ton of resume?  Nothing.

This economy is tough; my friends aren’t even getting preliminary callbacks about jobs.

Option 3:  Try Something New

The third option – do something different – seems to be the only feasible solution.  Where should you start when you have so many possible options?

Do something different: start an online business .

• Let this be the last time that anyone will ever lay you off, or outsource your job.
• Don’t let your job keep you from spending quality time with your family and friends.

You can become your own boss!  Work for yourself, not someone else – start your own business!

A excellent starting point for securing all the necessary knowledge about internet marketing that you will need is to enroll in the Online Success for Beginners program.

Home-based businesses account for approximately 7 billion annually and provides many tax benefits, more control over your time, your work, and your money.  If you were to apply the Law of Large Numbers to your personal situation, you could minimize your income risks during this recessionary economy. Insurance companies spread their loss risks over a huge number of customers.

An internet business will reach thousands, and millions, of prospects allowing you to spread your recessionary risks across multiple people, regions and countries.   To minimize your recessionary risks, do like the insurance companies do – apply the Law of Large Numbers.while building a luxury lifestyle

If you love cooking and are a very social person then starting your own catering business could be an easy task for you. Have you always wanted to get into the cooking / restaurant industry and be your own boss? You already possess the natural talent and skill to build your empire and supply your clients with some of the finest cuisine that the world has yet to taste. Add those great qualities to an upbeat attitude, relaxed personality and your business accumen then you are already in business.

Catering businesses all around the world are lucrative and they play a very important role in our society. Catering events can range from children’s birthday parties to fifty year anniversary parties. The price ranges for each event will vary depending on the amount of guests, the style of dining ( example: buffet style) and various other factors but all in all, you stand to make an incredibly large financial profit.

You’ll need a business license, so will need to Google the details of how you would get a license in your home state. If you need extra help, you should consider contacting other small business owners in your area to get a little guidance. I am sure they would be more than willing to assist you.

Starting your own catering business from home will prove to be an extremely tedious, profitable and a rewarding move for yourself and your family. People working nine to five Monday through Friday will envy your gull and courage to take on such a venture with the way our economy is going as of right now.

They will all see that soon the economy will get better and going into business for you allows you the opportunity to employ others who too, are in need of a little assistance right now; it is a win-win situation for everyone. You must remember that this is a journey that you want to make a lot of money on but also have fun in the process.

What is your budget? You definitely want to begin this venture with the mind-set of a true entrepreneur so you should have a realistic budget and utilize all of your financial resources to make this dream become your reality.

You do not have to have millions of on-hand dollars but it is important to know that many catering businesses can begin on as little as one thousand dollars or as much as eighty to ninety thousand dollars, this dollar amount will vary depending on the kitchen appliances you purchase as well as the cutlery, napkins, food and storage containers and many other factors including your staff.

Depending on your client, you may find that you do more onsite cooking than in your own kitchen or facility; so consider renting appliances and other tools to cut down on expenses on unnecessary equipment. You can definitely purchase supplies and kitchen equipment later on when you begin to bring in revenue and you are not still using your startup funds.

In the beginning, you may have to put out more money than you initially intended to but as long as it is a necessity then everything that you put into your business you will get out if later because any successful business will have fruits of the labor to show for in the end.

Who will you have work for you? It is my belief that family can be an incredibly big help when beginning any business, especially one that they will directly benefit. Do not use friends or relatives who want to be paid big money from the start because you can’t afford them yet. Do not hire those people who cannot be managed or will not listen to you because of your role in the family.

This is your business and make sure the people you select respect and support your decisions. If you happen not to choose family members to assist you then keep your staff to a minimum because you do not have to hire a lot of people in order to run a successful catering company. Make sure you conduct interviews and discuss compensation and hours up front so there will not be any confusion or misunderstandings later. Be professional at all times because people are going to constantly be watching and waiting for you to fail or succeed; either way always bring your “A” game.

It helps if you had some type of formal culinary training but this is not a necessity when beginning your business. You might want to take a couple of weeks to train your staff and work out an organization plan. You want to go over things like food preparation, plate presentation, table decorations and various other important factors that your clients and guests will pay extra attention to at the event.

Remember your reputation is the most important part of your business so from the beginning of the event to the end, make your first and last impression count to get the recommendations flowing.

Who will be your clients? You are in the business of making money so do not turn anyone away. You’ll want to make up some flyers and network with friends, relatives and former colleagues to let them know about your catering services.

As you can see, you already have everything that you need to start your catering business. It’s great to see you are ready to take the initiative, take charge of your life and go after what you want.

For more food related business ideas have a look on http://www.funcareers.com for more details on how to Start a Catering Business and where they list even more information on home businesses like Starting a Bed and Breakfast Business, even a Dog Bakery Business!

So you’re going to to leave your job and start your own home business. Good for you! Risks are necessary if you want to see big returns. Unfortunately, risks are also, well, risky. You are gambling on your ability to make your new small business work. However, there are ways to make your start-up less of a gamble. In order to do that, you must have a well conceived plan and be ready to deal with the risk that you are about to take.

The first thing you need to do is reduce or eliminate your debts. If you have outstanding credit card debts, you need to get those debts pared down as much as possible. Credit cards and credit card interest rates are hard to manage even if you are working at a regular job, much less while you are trying to get a business up and running. If you can pay off your credit cards, then pay them off. That is the best way to take care of your high-interest debt.

However, if you can’t pay off your card an excellent way of reducing your debt is to get a debt-consolidation loan. By combining your high-interest credit card debt into a low interest loan, you can ease your burden. There are many places that provide debt-consolidation loans including banks, credit unions, and debt-management companies.com. Of course, it is much easier to secure a loan while you are working, so you should probably do this well before you put in your two-weeks’ notice.

Another thing you have to consider is health insurance. In case you had not noticed, health insurance is very expensive. Having an employer pay those phenomenal monthly fees is a nice bonus of life in the cubicle. But when you are out on your own, you will need to take care of health insurance on your own.

If you quit your job, you will usually be given the option of keeping your health insurance. This is good, because they will cover pre-existing conditions that would otherwise leave you paying both health insurance dues and your medical expenses. However, continuing health insurance coverage can be expensive and is only available for a certain period of time. Investigate your options and make a solid plan for insurance in place before you leave your current job. Get several quotes from different companies and check the policies for their rules on coverage.

The third — and the most important — thing is to figure out just how you are going to pay for all this. Your business needs income if it is going to survive. So be ready. The best way to ensure you have an income is to have clients lined up ready to go. Promote your new business before you leave your current job. Start selling yourself and your business to prospective clients and see what happens. The best market analysis you can do is to sell yourself and see what happens. Then, when you have some contracts signed, you will know that there is water in the pool before you dive in.

Leaving your job to start a small business is as exciting as it is stressful. But, with proper planning, you can make that move with confidence. By knowing what you’ll need and having it in place, you’ll be able to make the move with some success already on the way.