A vending company could get you out of economic stress. Many people might worry about their jobs or their future status at a company. Operate a potentially successful business with a vending machine company to relieve your worries. This opportunity could be great for you!

Your vending business could be “recession proof.” If you are struggling to find a new job, consider this opportunity. I hope that you will hit a home run with this strategy! Unemployment may be on the rise in your area. You may have some debts to pay back. That is why a vending machine company could get you out of this stress! If you seek new employment, to satisfy outstanding debts or take care of other family members, then consider this opportunity. It could be a great idea to help you out with these problems.

A vending company lets you be your own boss. This flexibility could be a great thing to have. Since you need time with friends and family, having this flexibility is important! Very few jobs allow freedom like this. See if you can win in the vending business, it might pay off in the future. The vending business has a low startup cost, which allows you to focus your money on other investments. If you are a hard worker and enjoy being your own boss then consider this opportunity. Maybe you wish to improve your lifestyle or your financial freedom. It might “uplift your spirits” to try a vending machine business.

Article Source: http://EzineArticles.com/?expert=Carl_Drummond

With a global reputation for “thinking outside the box” and being an OECD member, incorporating a business in Australia can be beneficial both in terms of business efficiency and reputation. Being one of the easiest places to do business worldwide, with a population of over 21 million, Australia is an attractive market in which to undertake company incorporation for a variety of reasons. With significant levels of foreign direct investment (FDI), it is interesting to look into the many incentives that attract entrepreneurs to Australia.

Location
As Asia Pacific proves to be a key region for future business, with two thirds of the global middle class expected to come from Asia within the next few years, Australia is strategically located to take advantage of these prospects. Indeed, Asia has the most dynamic growth potential in the world, and Australia can easily undertake business with dominant nations like China and India, which provide a major source of income. Australia also benefits from various advantages as a result of its time zone, which allows Australian businesses to accommodate to the working days of both European, American and Asian companies. Indeed, the start of the Australian working day comes around the end of the European and US working day, and the start of the major Asian markets working day comes before the end of the Australian working day. These natural time differences give Australia an important business advantage over other countries. Similarly, Australia’s opposing seasons with other areas in the world give it strategic benefits in agricultural and food industries.

Transport
Australia provides an effective and advanced range of transportation options for businesses and people. Sea-freight is both reliable and convenient, as there are regular services between Australia and key business centres across Asia and other international markets. Indeed, over 10 shipping companies provide direct services to China, and as a result, freight services provide competitive rates. Similarly, air freight offers many efficient options to businesses, and minimizes transit time.

Domestically, the road, air and rail transport systems are cost-efficient and dependable. Australia’s domestic air transport services have been rated within the best in the Asia-Pacific region, and general transportation will be further advanced with the government’s investment into a trans-continental railway that is in the process of being built.

Overall, the transport infrastructure from Australia to key nations around the world is an integral and effective system that allows Australian businesses to prosper both nationally and internationally thanks to streamlined and flexible trade services.

Culture
Australia’s history implies the diversity of its people today, with Australian residents originating from over 200 different countries worldwide. Consequently, about 25% of the Australian workers are bilingual, speaking a language other than English. Furthermore, with about 1.5million Australians speaking an Asian language at home (Australian Bureau of Statistics – 2006), Australia’s readiness to take full advantage of Asia’s business opportunities is clear. Entrepreneurs benefit from having access to a multicultural and multilingual workforce, which allows better incorporation with major world markets beyond Australia’s own domestic market.

Beyond having a multicultural and multilingual workforce, Australia’s education system is recognized as being within the top ten in the world, and provides for a highly skilled workforce in many fields such as engineering, finance and IT (IMD World Competitiveness Yearbook). Australians’ commitment to education and innovation is reinforced with Australia holding the 3rd highest human development index (HDI) in the world, an index developed by economist Mahbub ul Haq and based on three elements of life expectancy, knowledge / education and standard of living.

As a whole, the Australian workforce provides a highly effective and competitive source of intelligence for all business operations. Entrepreneurs who incorporate in Australia will have little to complain about in terms of workforce; immigration policies make it relatively easy to hire from overseas and expatriate.

In Australia there is a general pro-business culture, which is supported by many government initiatives and grants offered to businesses. For example, in the aim of developing export markets, there is a 50% reimbursement of all overseas promotion expenses made by small and medium enterprises in Australia. There are also significant benefits given to companies to encourage investment into their research and development departments.

Policy and Taxes
Given Australia’s evident pro-business culture, the government has strategically incorporated a business-friendly infrastructure of laws that encourage entrepreneurship and investment.

In terms of starting a business in Australia, despite the requirement to have a resident director and secretary, it is relatively fast and easy to incorporate a company. Entrepreneurs can rest assured that they are within a stable economy that has important legal measures implemented to support this. As a result, businesses are required to provide annual and audited financial statements, and there is a public registry that states all directors, shareholders and beneficial owners of Australian companies. However, whilst some businesses may perceive this to be a hassle, it ensures reliability and security for investors as well as entrepreneurs in business-to-business transactions.

The Australia Corporations Act of 2001 is the main source of legal regulation that governs businesses and their operation within Australia. International business is facilitated by various Free Trade Agreements Australia has made with key economies like Singapore, New Zealand, the United States, Thailand and Chile. Furthermore, Australia has an excellent reputation for the protection of intellectual property rights, with laws that favour entrepreneurs and the development of their specific trademarks and copyrights.

In terms of tax, Australia is ranked as being within the 10 lowest tax nations of OECD members. The tax year runs from 1st July to 30th June the following year and Australian companies are taxable on all worldwide income, at a rate of 30%, except where the income is taxed overseas by another jurisdiction. Furthermore, Australia has signed a number of double tax treaties that protect individuals and businesses from being taxed twice for the same income. Non-resident companies are taxed only on locally sourced income and on the profits gained from the disposal of assets. Although a 30% corporate tax rate may seem high to some entrepreneurs, it is comparitively low in the context that Australia is a developed and leading jurisdiction as well as an OECD member. In this way, although being subject to corporate tax, the company is not perceived as a tax haven and with strategic tax planning, can legally minimize taxes.

All Australian companies with income exceeding $50,000 are required to pay goods and services tax (GST), or else they cannot issue their annual tax invoices. The general taxation and legal system in Australia provides an effective infratructure to encourage business and ensure reliability and stability in the economy. Australia is perceived as the equal eighth least corrupt nation in the world, by Transparency International in their Corruption Perception Index 2009, which is positive support for Australia incorporation.

Current Business
With its economy ranking as the 3rd freest worldwide, and the nation being the 9th easiest place to do business worldwide, it is evident why Australia remains a stable location for investment and a growing economy, despite the global recession. Within the Australian economy, finance and insurance is the fourth largest sector. Australia boasts an extremely developed financial market, and the fastest growing foreign exchange market in the Asia Pacific Region as well as a major financial services centre with assets valued at over A$4.3 trillion. Australia acts as a regional leader in investment management and has one of the most important capital markets in Asia. Supporting this, the World Economic Forum’s Competitiveness Report judges Australia to have the 4th soundest banking system worldwide with the 3rd most effective regulation of securities exchanges worldwide.

Company Incorporation
As previously stated, incorporating a company in Australia requires one resident-director, a resident-secretary and a minimum of one shareholder. Complete foreign ownership is legally authorized which makes Australia an attractive location for offshore business. Generally, entrepreneurs who incorporate a company in Australia do this with the aid of a specialized professional services firm, which ensures compliance with the law and knowledge of important tax procedures, as well as the provision of a resident director and secretary in certain circumstances.

There are no capital requirements to incorporate a company in Australia, and with the competitive office rental prices in the major Australian cities being lower than in other major business cities like London and Hong Kong, entrepreneurs see Australia as a cost-efficient place to do business with access to international markets.

Living
Australia is globally known for having a low cost of living in comparison to other major business centres, which explains Mercer Human Resources ranking five of Australia’s main cities in the top 50 worldwide for its Quality of Living Survey (2009). Entrepreneurs, who decide to live in Australia, as well as their families, will benefit from the advanced infrastructure, transport and telecommunications. Furthermore, Australia is recognized for its unique environment and enjoyable climate, which is neither too hot nor too cold. Housing, healthcare and education are of high quality and affordable.

In conclusion, Australia provides an excellent, cost-efficient business environment that is pro-entrepreneurship. Considering Australia’s position as a developed nation with an extremely low corruption index and a respectable tax system, Australia is an ideal place for most entrepreneurs to incorporate their business. Entrepreneurs take advantage of the many advanced facilities Australia offers, whilst benefitting from a stable and respected jurisdiction for their business to prosper globally.

Article Source: http://EzineArticles.com/?expert=Melissa_R_Glotzer

Defining the term “entrepreneur” can be tricky, and it is not rare that we find various definitions falling short of the true meaning of the word, offering only partial explanation. It is difficult to draft an one liner that sums it all, every aspect of what it truly means to be an entrepreneur, especially since the meaning of the word have had its natural evolution from the time it was first introduced.

According to Wikipedia, the word itself is taken from French, and it is believed that the creator of the word was a 19th century french economist Jean-Baptiste Say who defined entrepreneur as “one who undertakes an enterprise, especially a contractor, acting as intermediary between capital and labour”. With the progress of the economy, and the development of structurally diverse enterprises, it was not until 1970’s that the concept of entrepreneurship was positioned as significant enough part of the economy to even need a definition.

Some of the early definitions of the word describe entrepreneur as a person who creates a product on his own account. Naturally, this definition doesn’t hold truth for the modern day entrepreneur. Merely creating a product is not what makes an entrepreneur. Searching through online resources, word entrepreneur can often be found as a synonymous with founder or an individual who is starting a small business. But then the question arises if one actually stops being an entrepreneur when one’s business is no longer in its start up phase.

The way I see it, an entrepreneur would be a person who recognizes and seizes the opportunity of opening a small business entity that he or she will manage and organize assuming all the risk and responsibility, and at the same time bringing something innovative and valuable to the market. Entrepreneurs are capable of finding the way to get their hands on resources needed to realize their business ideas. Many successful entrepreneurs built their enterprises from nothing taking what is often called an educated risk. Without the proper knowledge of the market, many entrepreneurs fail in their endeavors relying only on the skills they have in their particular industry. Risk taking cannot be separated from entrepreneurship as it is one of its main characteristics.

Entrepreneurs want to be masters of their own faith, personally and professionally. Even if they do not achieve their goals, they enjoy the journey, and after one failure, they often jump strait back into fire. Being an entrepreneur is mainly looked as equal to being a small business owner, but in reality, entrepreneurial spirit is a foundation to all size of enterprises. Being an essential fuel that drives the economy, entrepreneurs have a valuable place in today’s society. The best way for an entrepreneur to succeed in the market is to chose a niche which is new and not already noticed by existing businesses.

All entrepreneurs have few key characteristics in common, they are creative and have visionary spirit, they are able to make decisions no matter what the situation, and most of all they have no issue with taking risks often seen as too grand by other people. A true entrepreneur is born to make something new and valuable, and has a capability to persist through all the hardships that go along with the creation of new enterprise.

Article Source: http://EzineArticles.com/?expert=Jovana_Zivanovic

It’s an unfortunate fact of life (and business). Out of the blue you get a nasty email from someone. Sometimes it’s about an article you’ve written. Sometimes it’s accompanied by a refund request. Sometimes it doesn’t seem like it’s tied to anything at all.

Or maybe you discover someone writing malicious things about you on a blog or a forum. Or maybe some other negative things suddenly start getting tweeted or posted to Facebook about you, your products or your business.

Stuff happens. As a business owner and entrepreneur, the more successful you become, the more you open yourself up to criticism, negative feedback or just plain being attacked.

As someone who is both a writer AND a business owner, I know all about what happens when you’re dealing with unwelcome criticism. (I write fiction so yes, I’ve dealt with my share of negative feedback.) But if this is something new for you, or even if it’s not new but you’re feeling like you’ve just been sucker-punched by something out of the blue, I thought I’d share a few insights to help you get through it.

1. Know you’re not alone. We’ve ALL been there. And I mean exactly that. It doesn’t matter how small or big your business is, stuff like this is going to happen. So know that no matter what just happened to you, there are a lot of entrepreneurs and business owners out there who will both sympathize and emphasize.

2. See it for what it is. All criticism is not created equally. Sometimes what someone is saying has absolutely nothing to do with you and everything to do with their own issues. Sometimes they have a legitimate complaint but the person is so unhappy with their own life they blow it completely out of portion because they just want to strike out at someone and you’re the one they picked.

And sometimes they have a legitimate beef AND they handled it fine, but you just didn’t want to hear it. An example of this is some of the criticism I’ve gotten from some of my stories. The people were thoughtful and absolutely right. And I hated them. (Until I got over myself and slunk back to the keyboard to make the edits.)

Now the third option doesn’t happen too often (unless you’re a fiction writer) but the first two do. You just have to see it for what it is. If there’s something buried in the anger and name-calling you can use to improve your products, services or business, by all means use it. But know the rest of it has absolutely nothing to do with you and everything to do with them.

(And you’ll know when the criticism is right. Trust me. Your gut will tell you.)

3. Be kind to yourself. When these things happen, it can hurt. And that’s okay. Call a friend. Or better yet, your mother (if you can). Write about it in your journal. Take a walk. Don’t bury your feelings, let yourself feel bad and then let it go. Don’t tell yourself it doesn’t matter and let it fester inside you, deal with it. Get it out of you. And then let it go.

4. Let someone else deal with these things. Whenever possible, have someone else in your business be a filter for stuff like this. Let other people take care of refund requests or just read the nasty emails and they can decide if there’s a legitimate complaint buried in there or not. Protect yourself, there’s no need for you to see everything or deal with everything. Yes you’ll have to step in if something big happens, but let other people take care of the small stuff. The small stuff is what wears you down anyway. Save yourself for the big things and don’t worry about the rest.

Article Source: http://EzineArticles.com/?expert=Michele_Pariza_Wacek

Manufacturers are looking for new product ideas to add to their product line. Manufacturers want innovative ideas as a way to increase revenue and get ahead of their competition.

The problem is that manufacturers get flooded with ideas. And these ideas are submitted without any market information or how the product can be manufactured. Manufacturers also receive submissions that have nothing to do with their capabilities or product line. As a result the disconnect between inventors and manufacturers leads to frustration on both sides.

So how can an inventor stand out from the crowd and get a manufacturer interested? You might assume that manufacturers will just figure out your idea because they are in the industry. Wrong. The problem is time. They are so busy with current projects and don’t have time to figure out each product idea.

To submit your invention, first find manufacturers that make similar products to yours and sell to the same target market. Then find the telephone number for their headquarters. You want to talk to someone in their marketing department such as a Product Manager. When you get the contact person on the phone concisely describe the benefits of your product ideas and how it fits with their product line.

If they are interested mail a cover letter and a Product Proposal. A Product Proposal includes:

1. Market need – describe the need, want, or problem that your product idea provides.

2. Product benefits – since people buy products based on benefits describe how your product idea saves time, saves money, provides health, safety, etc.

3. Competitive advantages – describe how your product idea provides benefits better than other products in the market.

4. Customer – describe who is the most likely end-user of your product idea.

5. Testimonials

6. Estimated manufacturing costs and profitability.

With marketing data in hand, the product manager can present your idea to their new product committee.

Overall, when you follow these guidelines you will get less rejection and more company interest.

For more details on how to effectively license or sell inventions, please visit http://www.ProductCoach.com.

Article Source: http://EzineArticles.com/?expert=Matthew_Yubas

Financial Success First Starts with a Decision, Not Action. Before you can attempt to achieve success, regardless of the nature of your business, you must first resolve it within your mind, within your spirit, and within your will that you will achieve success.

Your defining decision is not should you become an entrepreneur. Rather, your defining decision must be are you willing to pay the price to become a successful entrepreneur. Honestly ask yourself, are you wholeheartedly committed to and willing to make the necessary sacrifices to be successful?

Do you have a long-term perspective? Are you willing to sacrifice the necessary time, money, and effort in the short-term in order to achieve long-term prosperity? Do you have the patience necessary to research, establish, build, nurture, and cultivate a successful business?

By your very definition, an entrepreneur, it is guaranteed that you will face challenges, distractions, risk, obstacles, and at many times, uncertainty. But your success as an entrepreneur cannot be achieved if your thoughts and your level of commitment is anything less than firm and resolute.

As an entrepreneur, your strongest asset is your mind. It is your mental resolve, your mental stability and flexibility, your creativity, and your sound and decisive decision making that will ensure your success long-term. Regardless of how much money you make, your strongest asset remains your mind. If you were to lose everything a sound mind could always create new wealth.

There is No Substitute for Preparation. The Great General McArthur once said “There is no substitute for victory.” As a proud graduate of the Military Academy I wholeheartedly agree with the General. But as a proud and motivated entrepreneur I also believe that there is no substitute for preparation.

Little greatness has ever been achieved by coincidence. Rather, greatness is always the result of calculated and consistent action. Your success, your greatness, and your accomplishments will be the direct result of your preparations. Why? Because what you do today directly influences what happens to you tomorrow.

But how do you prepare to be an entrepreneur? What do you prepare for and where do you start? First and foremost you need to prepare YOU. Before you can plan to pursue any business venture or prosperous opportunity you must first ensure that YOU are prepared.

Think of your hands when they’re full – holding onto something. When your fists are full and tightly clasped you’re unable to accept holding anything else? Your hands are preoccupied.

The same is true when it comes to preparing YOU. When you’re not prepared you’re unable to accept success. You’re unable to accept prosperity. You’re unable to accept blessings of success. How can you have high expectations of success if you’re not prepared to achieve success? The answer is you can’t. Like your hands, YOU must be open and prepared, willing to accept and receive success.

Start by preparing YOU mentally, physically, financially, and educationally. Build personal patterns and habits that will encourage your success. If there are things that you don’t know – learn them! Educate yourself and find experienced people that can help you.

Next, prepare your environment and your surroundings for success. Eliminate inefficiency, clutter, disorganization, and distractions. Success doesn’t follow disorganization. Rather, success is led by organized and focused efficiency.

Surround yourself with positive influences and avoid negative people. You can’t soar with the eagles if you remain clucking with the chickens. Unfortunately, negative people can include friends, family, and close associates. Regardless of who they are, how long you’ve known them, or what the relationship, you can’t afford to fall prey to the negative energy, poor attitude, or inefficient habits from others.

The following phrase is very succinct yet powerful. “Plan your work then work your plan.” These short seven words are a simple philosophy that you should use as you approach the development of YOU and your business.

Have an Expectancy of Success. A fear of failure cannot be an option. Rather, it is absolutely essential that you have realistic and strong expectations of success.

As Sam Walton once said, “High expectations are the key to everything.”

Does having high expectations and a strong will mean that you are impervious to failure? No. Chances are very good that you will experience some form of failure along your entrepreneurial journey.

Does it mean that you won’t make mistakes? No. Regardless if you’re a new or experienced entrepreneur mistakes, oversights, and miscalculations are always a possibility. But, it’s how you interpret, react to, learn from and overcome failure and errors that will test your commitment and further shape your character and resolve.

Regardless of how often or intense your challenges, you must remain optimistic and committed with high expectations of success. High expectations and a positive outlook is what allows you to view mistakes and challenges as lessons learned rather than allowing them to hamper and adversely affect your success.

Accept Problems – But Don’t Let Them Distract You. Ask yourself. Why is it that you’re able to make money owning your own business? The reason – because you’re a problem solver! It doesn’t matter what industry or what business you’re in, you’re solving someone’s problem(s). That’s how you generate profits – solving someone’s problems.

In the transportation business you’re meeting people’s travel needs. In the food industry, you’re satisfying someone’s hunger. A maintenance shop repairs vehicles. A law firm preserves people’s legal rights. It doesn’t matter what your business you’re solving problems.

Now that you accept being a problem solver, you must accept that you’ll face problems of all kinds – many unwelcome. You will face employee problems, financial problems, logistics problems, time problems, deadline problems, and various other kinds of problems. But regardless of how intense, how unexpected, or how inconvenient the problem(s), you cannot allow problems to control you and you can’t allow them to take your business off course or to sink your ship altogether.

Someone once said “tough times don’t last, tough people do.” This philosophy hold true both in the athletic and the entrepreneurial arena. You will always be tested by adversity and obstacles. But because you’re going to have a strong resolve, you’re going to be mentally and strategically prepared for the unexpected. Further, because you’re going to have a high expectancy of success you will have all of the necessary tools to overcome unwelcome problems and challenges. Just accept that problems are an inherent part of owning a business. But it’s not what kind of problems you face that defines you. Rather, it’s how you overcome these problems that make you who you are.

Education is Ongoing, Not a Final Destination. We’re living in the information age. New technologies and information are being disseminated at a feverish pace. What makes this information age so exciting are the rapidly growing financial opportunities. These new technologies and information are creating new and exciting entrepreneurial opportunities for all of us. But with growing opportunities comes the demand for growing education. To remain competitive, to remain at the forefront of your industry, to remain a visionary your continued education is absolutely essential.

Doing business in the new millennium is far different than it was fifty, thirty, even ten years ago! Therefore, your education must always remain an ongoing journey and not a final destination. Your education doesn’t stop with high priced degrees from formal institutions. Strengthen and educate your mind. Start by surrounding yourself with knowledgeable and experienced people – people that lead by example and speak form experience. Find other entrepreneurs from whom you can gather insight, feedback, and input.

Use all available resources to further your education. If you don’t personally know of nor have access to people of experience then invest in books, CD’s, and audio tapes. There are countless educational resources that are readily available online, in book stores, and libraries.

Make education one of your strongest habits. As John Dryden, a popular writer, says “We first make our habits, and then our habits make us.” Continue to educate yourself and let your intelligence and actions define you rather than your lack of action and poor habits.

Run Your Own Race. Unlike sporting events, in entrepreneurship there is no end of regulation and there are no time-outs. There’s no time clock. Therefore, the amount of time and effort that you invest into YOUR development and that of your business is entirely up to you. Your success lies only on your level of motivation, your determination, and your commitment.

What’s great about entrepreneurship is that it doesn’t discriminate. It doesn’t matter who you are or where you are in life. It’s never too late to start, to build, and to grow. As Joel Osteen, a popular preacher and motivational speaker says, don’t worry about what others are doing, “run your own race.” These four short words are very powerful in serving as a reminder of what direction your entrepreneurial efforts should be affixed. For as long as God blesses you with breath in your lungs, spirit in your heart, and thoughts in your mind, tomorrow can always bring you new opportunities, new wealth, and new fortunes.

Remember, it’s not where you start that counts, it’s where you finish. Harland Sanders, also known as Colonel Sanders, didn’t establish his famous Kentucky Fried Chicken franchise until he was well in his 60’s. Do you think he didn’t face plenty of doubters and naysayers? Don’t ever be discouraged that you’re too late, you don’t have time, or you don’t know how. Just keep sowing seeds of success and “run your own race.” Eventually your seeds of hard work will bear fruit.

Article Source: http://EzineArticles.com/?expert=Joel_E_Davis

When the economy has an extended down cycle, like what we have experienced for past couple of years, the value of many small businesses tends to drop. At one time I worked for a very large conglomerate that would acquire as many as 100 new businesses a year. In fact a big part of my job was to constantly be looking for and evaluating small businesses that had some synergy with the existing companies we already owned. Buying another company is not something that is limited to huge corporations. You might be surprised to learn that many of your small competitors and even small businesses that serve markets adjacent to yours are looking to bail out during difficult times. It may not take as much money as you think to grow your business rapidly.

I will offer a few guidelines you should consider before you go on a buying spree.

1. Don’t consider acquisitions, unless your existing business is stable. Integrating another business into yours will take a lot of time and effort and your existing business should be able to keep going without your care and feeding for a while.
2. Look for businesses that are direct competitors or serve the same or directly adjacent markets to where you already are. If you don’t already understand the products or services your target sells, don’t buy it thinking you will learn about their business after you own it.
3. Don’t just look for bargain basement companies that are in trouble. The process of integrating and succeeding with an acquisition is much easier if the acquisition is not already on life support. There are people called turn-around specialists that make a living out of buying and “turning around” struggling businesses. The changes are, you don’t have all the skill sets a team of turn-around specialists has.
4. Do include your “team” in the process. If you have some good people working with you, or even a team of trusted outside advisors, use them for their expertise. Also depending on the size of your acquisition, you might pick up some great “new” team members.

Finally there are some significant tax advantages to selling a small business right now. If you own stock in a “Qualified Small Business” or Qualified Small Business Stock, 50% of the gain from selling that stock is excludible from calculating taxes and the maximum rate of tax is limited to 28%. There may be some motivated small business sellers looking to make a deal as the terms of QSBS exclusions will start changing after 2010 until it is completely phased out in 2014.

“Business is bad.”

I hear this all the time. Funny thing, though. I hear it in both Good Times and Bad Times. I hear it during economic recessions and financial booms.

If you listen long enough to CNN, Fox News, and MSNBC, you’ll hear that business is always stinkaroo.

I sat in Starbucks for half an hour this morning. Here’s what I overheard:

“Matt moved back home. The kid’s business went belly-up, but you know how bad things are right now.”
“I’m cutting back my staff and shortening my hours because, well, business is just bad everywhere.”
“I can’t compete. Business is bad, and people are strictly price-shopping now.”

At the risk of being a spoilsport…

I think “business is bad” is usually just an excuse.

Larry Winget, everybody’s favorite maverick business writer, is even more hardnosed about this than I am.

“Business is never really bad,” he says. “People are just bad at being in business.”

There are three unfortunate traits I commonly see among failing new business owners. If you plan to start your own venture, make sure you don’t share them.

1) They’re unprepared for the entrepreneurial lifestyle.

No experience.
No willingness to learn.
No discipline.
Unrealistic expectations.

I’ll never forget the guy who told me, “I’m gonna quit my job and open my own shop. I want to free up more time to travel with my wife and kids.”

2) They’re undercapitalized for the type of business they’ve launched.

They make their first effort a high-inventory, high-overhead operation.

There are hundreds of businesses that can literally be bootstrapped together for a few bucks and built into six-figure companies and even seven-figure empires.

3) They throw their money at low-priority stuff, not high-priority stuff.

They spend big bucks on elaborate stationery and business card combinations, expensive telephone systems, computer networking programs, and web-design packages — while they slash their marketing budget.

Tip: Marketing is the lifeblood of any business. Great looking letterhead ain’t.

Article Source: http://EzineArticles.com/?expert=Wally_Conger

Many of us are hard working corporate managers in mid-to-senior level corporate America. We identify objectives, work diligently to meet the respective goals, and have most of our weekends to do as we please. We leave the nuances of building value and the subject of valuation to others in the executive suites. We collect our paychecks every two weeks, participate in our performance reviews (if participating is an option), and then wait to see what percentage raise, if any, is doled out and to whom.

Sometimes, as it happens, those of us who work in corporate America for a time, begin to recognize a need in ourselves, realizing a passion. It niggles at us. We do some research and begin to gain some confidence for these thoughts. We float the idea where we work, and it falls on deaf ears. Even though we know this idea would make a revenue contribution, it is “outside the box” of the company’s vision. Then, one day, armed with our confidence, our corporate experience, and a bit of money in the bank, we leave the confines and comfort of corporate America, to found our own business. To create a structure from an idea born out of a passion.

The terrifying feeling of not having a paycheck every two weeks is mitigated by the exhilaration that comes with applying ourselves to our own creative and intellectual pursuits. We’re doing it our way, to paraphrase a great song.

And so, we begin the building. Some of us will spend time researching the market, some of us will start writing a business plan, some of us will create business cards and one-sheets, and some of us will embark on all of these activities. Regardless, we begin the building process in our own signature way.

As we build, perhaps we find ourselves in a new and emerging market segment and our idea is a jaw-dropper at a trade show. Perhaps, we have developed an idea for a more mature market, and our idea and company information has been forwarded to a strategic alliance, and they are interested because it is time to “think outside the box.” Perhaps, our idea or our opinions about the direction of the market have received the attention of media, and we have been invited to speak on industry panels. All of the foregoing are value-builders.

When we take our life into our own hands, we are creating value. When we stake a claim about the market we are involved with, we are creating value. When we encourage others to look at themselves in a new light, we are creating value.

By starting a company, the entrepreneur is exercising self-responsibility and self-actualization to a degree that most in our world do not have the opportunity to do so. At the time, most entrepreneurs are not aware they are doing these things, if you ask them at the outset. But, later, with the help of hindsight, the experiences and wisdom gained from the effort of a startup, the entrepreneur will come to realize the value of his/her creation, in all aspects of life.

When you are passionate about your work, it will show in everything you do and say. You may be supportive of the direction of your industry, or you may be concerned about it. Well-thought out opinions matter. When you stand up, for example, in an industry meeting and claim your vision and your opinion behind your vision (commonly referred to as “the problem you are solving”) you will attract attention. Perhaps, you will attract media attention and a blogger or journalist or TV producer will want to do a story on you. Turning heads and making your industry think in different terms, “outside a box” or shifting a perspective, is valuable.

As an entrepreneur starting a company, it is as important to ask the right questions as it is to have a vision about which you are passionate. I want to finish this article with an anecdote that illustrates this view:

A young woman, one of the very first hires at Wired Magazine, had just left her position with the publication to strike out on her own, as a media consultant. She had helped Wired, in its early stages, become a very successful publication, and I had watched her over the years do so. My view of her was that she was an extremely capable, hard-working, creative person and that Wired was lucky to have her. It did not surprise me that she decided to strike out on her own. She was in negotiations for her first project and came to me for advice on what to charge as her consulting fee. As we discussed the project, and the scenario became clear to me regarding the dynamics between the parties, and the needs, my suggestion was that she set her rate at $150 per hour. Her eyes bulged as she told me she was thinking more like $30 per hour and would have to think about our conversation and my advice. I was hoping that she would overcome the fear I saw in her eyes and recognize her value. About a week later, this young woman came to me, rather excited, to tell me that she had decided to follow my advice and quoted that $150 per hour rate to her client. They had accepted without “blinking an eye.”

The whole notion of corporate valuation is a mysterious, tricky one – only because it is, mostly, subjective. The known equations take you so far, but the story of value building is the meat around the skeleton of the equations, whether the company is publicly traded or privately held, a startup, or in idea stage.

As we work, and think, and problem-solve, and create efficiencies, and generate new product ideas and features, we are building value. I have come to understanding this in many discussions with entrepreneurs and venture capitalists. The former group does not understand this nearly as well as the latter, and they like it that way, save for a very few.

As entrepreneurs, we need a perspective shift regarding funding, money, and investors. Ed Tuck, a brilliant engineer (invented the Magellan GPS) turned venture capitalist, once told me, “Venture capitalists need entrepreneurs more than you need us.” I like his perspective. I encourage you to adopt it, too.

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