Archive for May 2010
Pick Your Fund to Grow Your Business
May 23, 2010 | 
Author Running a business is not always a good thing to do. Sometimes you enjoy your time and achievement doing your business. On the other time, you may find that so many problems you must face to take your business to the next level.
I always find it interesting when someone’s business is growing. They tend to put their spirit and mostly all their time to prove that they are working in the right direction. When this business keeps growing, usually they will face the same difficulties. Those difficulties called Capital, or in other words I say money.
They need more money to help them manage their growths, if you understand what I mean. If your business is growing, that means you need more people, more space and even more advertising. In the end, you need more money to fulfill this growth.
There are a lot of ways to deal with this problem. I am going to show you where you can get your money to deal with this situation.
The first one and the most common used by businessman is their savings or investment. This is the best source of your capital. The good thing is you take responsibility of your own money, which means you do not have to responsible for others in case your business fails. The bad news is, when you fail you loses all your money. So, be wise to spend your money.
The second source is your family or friends. This is works well for some, but when things run out from the line, you must prepare for the worst event. It would be a shame if you told you family this, “Sorry Bro, I am bankrupt. I cannot return your money.” Surely, you do not want to do this.
The third one is Credit Card. This is the last thing I want to do in order to grow my business. I remember finance my first business on credit cards, and guess what, I get thousands dollars in credit card debt before my business come to an end. If you still decide to finance your business on credit card, keep in mind that you will be paying extremely high interest rates on the money you’ve borrowed. If you did not hit a big score, you will be paying for that money for many years to come.
The last one is Mortgage. You can put your house to mortgage in the bank. Even if this makes more sense than building a business based on a deck of credit cards, the financial risks are no less dangerous. You must pay this money back whether your business succeeds or not. It is a good source of low interest money to get you started and the interest may be tax deductible. But if you fail, prepare to say goodbye to your home sweet home.
Every business has it own risk as well as your Capital Source. So, choose them wisely.
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Choose your Franchise Business
There are many kind of business that we can find in this world. Start from small capital business, until million dollars capital business. You can find that each business has different profits related to their basics. I can tell you two different kinds of people who have basic difficulties to start their own business.
The first one is people who do not have money but want to have or start their own business. The second one is the one who have money but have no idea what business to start.
If you happen to be the type of second one, then you may consider franchise business. Franchise business has much advantage if you compare to other kind of business. Buying a franchise comes with the advantage of knowing business that has been proven to be success. The idea and process of running this business is tested. Therefore the learning curve in operating the business can be virtually eliminated.
The first step when buying a franchise is choosing an industry you are interested in. There are many great franchises for you to choose. My recommend for you is you sit down with a Franchise Consultant and decide if buying a franchise is right for you.
Franchise business can be a life changing experience. There are many good reasons to follow your dream of owning a successful franchise. For starters when you buy a franchise, buy a proven one. When you are buying a franchise you are also buying an established customer base or brand name. Most franchises are already recognizable to consumers. The brand awareness provides security and trust to the customer who expects uniform quality to be provided. Therefore a customer base is already established.
You can also benefit from any advertising or promotion that the franchiser (owner of the franchise) does at the national or local level, without absorbing the cost. The franchiser can also provide input to the franchisee on a local marketing plan.
When you buy a franchise, you also receive constant support. Training and support is usually always part of the arrangement. Since the franchise company has a vested interest in how well you do, ongoing training, system upgrades, product enhancements, and question and answer resources are provided. The franchiser offers experience to franchisee in such areas as accounting procedures, personnel and facility management, and business planning.
Also, many times obtaining financing for buying a franchise is easier since the franchise name and reputation are usually recognized by the lenders. Therefore, banks are more likely to fund the franchisee. In addition, relationships with suppliers are already established; affording the opportunity to buy in bulk, enabling a great deal of savings for the business.
Decide Your Own Career for Yourself
I remember a couple years ago when I was on High School. I was forced to choose my career that day. I must carefully take a decision that may shape my life of excellent of otherwise it will be doom forever. It is not like choosing my own vacations. It is my life to choose.
Circumstances sometimes decide the way things go in the funny way. I still remember I took a degree in Marketing. But here I am now, as an Accountant. I have no idea how can I end up to this career. I found that I am not the only one who experiences this. Most of people I met say that they would prefer different job from what they are doing now.
Most people now have a formal education before they begin their careers. Careers usually start at a very low level. There are very few people who actually start at the top. This kind of people either inherits their parents business or is extremely sparkling. You can take artist as an example. Art is considered by most of us as a hobby. It is almost impossible to make a living from this career at the beginning. It is well known that an artist might take years before his work is recognized and gets some value. Unfortunately, most of them never get their spare of success.
Someone’s careers are decided by his belief in his capability. Bill Gates left Harvard to grow with Microsoft. If he had continued at Harvard, he might not have what he has today. He might have gone the conventional way of taking up the best job offering a good salary. Instead he pursued his natural talent in developing software. People actually take up jobs and see how they deal with the same. It has been seen in many cases, where executives keep on flitting between different jobs and departments and ultimately take up something else which is very different from what they started with. People learn about their own character with experience. Slowly but sure, they move towards their goal. Very few are able to transform their avocations into their vocations.
People with determination try and succeed his interest and work. Abraham Lincoln chose politics and social work as his career and after many failures, became one of the most admired Presidents of the United States. Mahatma Gandhi and Martin Luther King chose their path by doing social change. They pursued their hearts and achieved their goals.
I come to conclusion that there are many opportunities out there. You only need to identify your talent and instincts to follow up which path you want to take. Remember to choose carefully because your future depends on what you chose.