With the economy and turmoil in many parts of the world, companies must do all they can to lower operating overhead by increasingly using technology, having many employees work remotely and outsourcing whatever they can.
Organizations are going to be placed in a position where their Internet presence is going to play a critical part to their business success. I believe that many business will move away from the traditional “brick and mortar” in exchange for online stores. This will present opportunities to minimize overhead costs which will increase the amount of “work capital” in terms of Financial Capital.
Many people will begin to produce work from the comfort of their own homes (if they desire to be successful). The greater the Internet presence the less of time and money invested will be invested into traditional marketing. I believe that the Internet will be the igniter to “Word of Mouth” which I believe is still the most effective way of getting your message out. Just turn on your television and you will see that word of mouth is powerful even if it is build off of speculation, opinions and assumptions. These trends are actually present, and will spread amongst those who desire to increase their influence. We just have to be sure that the right message is being conveyed, that our consumers understand our message, and that it turns them into producers of quality IN-FOR-MATION.
Another major trend for 2012 will be the use of mobile technologies at all levels from micro to giant enterprises. Plus the growing utilization of cloud services that will help with operating costs, making it possible for small business to share the same resources of big corporations to reach smaller and further areas.
Globalization is still a growing trend that more and more corporations will start using to reduce cost. More trends we may see are economically still a struggle for credit and massive layoffs still coming, not much improvement in the USA economy, keeping up with budget cuts among government agencies, growing interest among small businesses to participate as government vendors, and incorporating more technology and resources into small business.
Thursday, February 9, 2012
Monday, February 6, 2012
Hottest Start-Ups For 2012
Below are the top 10 I have observed as "Hot" recently on the small business airwaves....
**On line administrative assistant
** Services to the elderly- transportation, errands etc
** Pet Care and Training Services
** Federal government contracting to tap stimulus funding coming through 128 federal agencies in almost every field of endeavor
** "GREEN " Environmental initiatives in almost every venue
** Maintenance, Repair and upkeep of foreclosed properties
** Non-profit organizations for community development chasing grants
** Self-Help Guides for Business
** Training on all aspects of small business Management
** On-line Books
These are the buzzwords for a VC startup for 2012:
1. avoid 'cloud'. Too overused
2. Mobile apps are still hot - smartphone customers are expected to spend $6.2 billion on more than 4.5 million downloads
3. Social apps - Facebook and LinkedIn are still hot
4. sharing, bartering, lending, renting and gifting--of goods, skills, money, space or services. This is what Entrepreneur magazine also said.
5. games - in any form
6. still the same-old niches - health, fitness, wellnes and environment
Successful small businesses are developing enterprises in these fields through market research and business plans to deliver unique products and services - then pricing them and comparing them to the existing market, the competition and client demographics to determine feasibility before applying for financing and launching an enterprise.
**On line administrative assistant
** Services to the elderly- transportation, errands etc
** Pet Care and Training Services
** Federal government contracting to tap stimulus funding coming through 128 federal agencies in almost every field of endeavor
** "GREEN " Environmental initiatives in almost every venue
** Maintenance, Repair and upkeep of foreclosed properties
** Non-profit organizations for community development chasing grants
** Self-Help Guides for Business
** Training on all aspects of small business Management
** On-line Books
These are the buzzwords for a VC startup for 2012:
1. avoid 'cloud'. Too overused
2. Mobile apps are still hot - smartphone customers are expected to spend $6.2 billion on more than 4.5 million downloads
3. Social apps - Facebook and LinkedIn are still hot
4. sharing, bartering, lending, renting and gifting--of goods, skills, money, space or services. This is what Entrepreneur magazine also said.
5. games - in any form
6. still the same-old niches - health, fitness, wellnes and environment
Successful small businesses are developing enterprises in these fields through market research and business plans to deliver unique products and services - then pricing them and comparing them to the existing market, the competition and client demographics to determine feasibility before applying for financing and launching an enterprise.
Thursday, February 2, 2012
Self Employment Pros And Cons
Like every other profession, self-employment too has its own pros and cons. If you want to know, what will be your likes and dislikes later, first let's see: "I ask because I am considering self-employment." What are the reasons that prompt you to consider this?
1. Many people think once they are self-employed, they will be their own boss. Wrong ! Once you become self-employed, you will have so many bosses and you will have to meet their standards and their deadlines. (Every Mary sitting at the reception desk of a client now becomes your boss and if you are not friendly with her, she can curtail your access to the boss.) So, if you want to start a business, to become 'boss-less', well, you have a shock coming your way.
2. You want to become self-employed to make more money: well, you might make some dough, but, it will take at least 2 years, assuming you are lucky and/or you have an incredible product or service.
3. You want to be self-employed to spend more time with family. Not a good reason, unless your spouse already is earning in buckets. Self-employment means commitment to your work and clients, 24x7x365.
4. You want to become self-employed because you want to realize your potential and you feel money earned from it is incidental. Well, if this is the reason, you should take it up.
To be truly self-employed is almost always to be an entrepreneur, however small the scale of that role may be. Self employment is _not_ the same thing as being a contractor - a common enough role that is more often than not just a thinly disguised form of employment. To succeed at self-employment means having to take on a whole range of new skills or to amplify and use existing skills to best advantage; one is a sales person, a marketeer, a book-keeper, a designer, a manager, a writer, a logistics person and then when all those tasks are completed one still has the paying work to do; in short one may well be working 18 hours a day 7 days a week.
This is not a role that fits everyone; it requires passion, committment and motivation and a realistic understanding of the scope of the project.
In other words one is setting up in business - the fact that you are or will be the only employee is irrelevant. Like any other business it's necessary to have goals and a plan and not start out with the expectation that you will be making money - let alone a profit - from day one. These days one is lucky indeed if one can take any new business from startup to to break-even in a year. It's essential to be realistic about the funds you will need to get through that first year - and where they are coming from; maxing out credit cards or borrowing to get going is rarely a sane or sensible move *unless* you have already secured at least a couple of clients at sensible rates of remuneration.
Which raises the issue of how one calculates tha daily/weekly or other rate. In order to do that you need to know what simply staying alive costs you every year, and what your business expenses are likely to be; that allows you to calculate a daily rate, knowing that in the first 6 months you will probably only be working for money at 25-40% of your capacity - somewhere between 5-7 days a month.
If you choose this road, it is an act of entrepreneurship and should be seen as such. Entrepreneurship can be chosen as an act of desperation or a conscious choice. To say there is no security on this path is an understatement. However, once you accept responsibility for your career and its management you become the "boss", you set your own objectives, and although no one is really in control, you have the freedom to set your own agenda.
The best advice to give to someone about to walk on this road is to strongly suggest to view this act positively. Make a "business" plan even it is simple and set yourself milestones to achieve. Work methodically and with a clear sense of purpose.
If you handle this the "right" way, and I might add that there is no one right way, You will wonder why you didn't become an entrepreneur sooner.
Now, ask yourself: why do you want to become self-employed? Therein lies answers to the likes and dislikes of the profession !
1. Many people think once they are self-employed, they will be their own boss. Wrong ! Once you become self-employed, you will have so many bosses and you will have to meet their standards and their deadlines. (Every Mary sitting at the reception desk of a client now becomes your boss and if you are not friendly with her, she can curtail your access to the boss.) So, if you want to start a business, to become 'boss-less', well, you have a shock coming your way.
2. You want to become self-employed to make more money: well, you might make some dough, but, it will take at least 2 years, assuming you are lucky and/or you have an incredible product or service.
3. You want to be self-employed to spend more time with family. Not a good reason, unless your spouse already is earning in buckets. Self-employment means commitment to your work and clients, 24x7x365.
4. You want to become self-employed because you want to realize your potential and you feel money earned from it is incidental. Well, if this is the reason, you should take it up.
To be truly self-employed is almost always to be an entrepreneur, however small the scale of that role may be. Self employment is _not_ the same thing as being a contractor - a common enough role that is more often than not just a thinly disguised form of employment. To succeed at self-employment means having to take on a whole range of new skills or to amplify and use existing skills to best advantage; one is a sales person, a marketeer, a book-keeper, a designer, a manager, a writer, a logistics person and then when all those tasks are completed one still has the paying work to do; in short one may well be working 18 hours a day 7 days a week.
This is not a role that fits everyone; it requires passion, committment and motivation and a realistic understanding of the scope of the project.
In other words one is setting up in business - the fact that you are or will be the only employee is irrelevant. Like any other business it's necessary to have goals and a plan and not start out with the expectation that you will be making money - let alone a profit - from day one. These days one is lucky indeed if one can take any new business from startup to to break-even in a year. It's essential to be realistic about the funds you will need to get through that first year - and where they are coming from; maxing out credit cards or borrowing to get going is rarely a sane or sensible move *unless* you have already secured at least a couple of clients at sensible rates of remuneration.
Which raises the issue of how one calculates tha daily/weekly or other rate. In order to do that you need to know what simply staying alive costs you every year, and what your business expenses are likely to be; that allows you to calculate a daily rate, knowing that in the first 6 months you will probably only be working for money at 25-40% of your capacity - somewhere between 5-7 days a month.
If you choose this road, it is an act of entrepreneurship and should be seen as such. Entrepreneurship can be chosen as an act of desperation or a conscious choice. To say there is no security on this path is an understatement. However, once you accept responsibility for your career and its management you become the "boss", you set your own objectives, and although no one is really in control, you have the freedom to set your own agenda.
The best advice to give to someone about to walk on this road is to strongly suggest to view this act positively. Make a "business" plan even it is simple and set yourself milestones to achieve. Work methodically and with a clear sense of purpose.
If you handle this the "right" way, and I might add that there is no one right way, You will wonder why you didn't become an entrepreneur sooner.
Now, ask yourself: why do you want to become self-employed? Therein lies answers to the likes and dislikes of the profession !
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