May

15

As an independent business person there is a need to find out which tasks/jobs are your potential.

This should be referred to as your marketing potential.  In fact before she/he can be open for business the needs of marketing research is a task that needs to be accomplished.  The research of before and after marketing research; “market trends of the consumer”.  This will help you analyze the market potential of your ideas to create or expand on an existing market that has not reached it’s full potential to the customers you are going to capture.

Market research is not just a mystifying act of marketing.  Marketing research is actually very basic.  Having conversations with people who are/or might be using the product or services which your looking to expand on. What could be done to create a greater want or need for this product or service that your looking to further market.  Marketing is only about the presentation of a product/service to the consumer, that fulfills a greater need or want. Finding these facts (market research) to bring this product to the end user; “the consumer”.

Unless you have taken marketing classes which few have; or have been taught how to research the market.  Maybe your in need of being mentored?  Bottom line your probably in need to hire someone to do the marketing for you, if you have the funds.

Depending on your financial status it might be beneficial to pay a firm to do your marketing research.
If this is a path you choose; what are the right questions to ask?

Most marketing firms would be more than happy to assist you.  Knowing which questions to ask would determine
the validity of the research.   What reasonable fee are you willing to pay for there service?

Being in business for yourself means: early starts in the morning, late nights, and evenings on most days, having your weekends off probably not; look forward to spending time on your new business instead of family and friend weekends.  Having your own business means going without a vacation any time soon.  There will be no one else to operate or run the business, but you. You will reap the profits you sow, so get ready for serious time management.

After reading this, are you ready for the commitment?  Will your time be worth it, Yes.
Going into business for yourself is all about the commitment you willing to put in.
After gathering your marketing research facts,  you will know what is required, needed,
and how to fill the need.  You have to have the desire and energy to bring yourself to your dream.

“Just believe in yourself.”

May

13

Every hot business has it’s decade theme.  During the past decades for big business, there were themes like
management by objective, total quality management, and team circles.  To only name a few.

Lately though, for business start ups, individuals are looking for the best top idea’s for being self employed.  Thinking the savior to
their financial freedom is to go into business for themselves.  Employees are concerned with there issues of Corporate downsizing, some
individuals just don’t like their job, their boss, or just mainly the business their in.

The first thought of going into business for yourself seems like it would be easier than going out and looking for a new job, so why not.
Your second thought is the idea of having the freedom of self employment.  Your goals appear to be within reach simply for the fact that,
if your in business for yourself no one else is in charge of your own destiny.

If you have noticed as I there are many articles and seminars are in Magazines, Newspapers, Radio, TV, and the Internet which are filled
with many great examples of why people should just go into into business for themselves.

If one could grasp the opportunity of being an entrepreneur any individual could be one.  There are many seminars that show going into
business for yourself is a better opportunity.  Doing research on these seminars prior to attending and paying the fees is very
important.  “Fact or Fiction.”

No one person goes into business for yourself.  Remember the old phrase:  “There is no I in Team”.  Your in business to create wants and needs of
other people, businesses, and organizations that have not been previously full filled.
Capturing a missing venue that other businesses have not been able to capture.

There is not just one customer, but customers. No one business can survives on just one customer.  You have to believe in this to be
successful.  Overturn what other supplier’s, or entrepreneur’s could not do.  Then the task will be accomplished.

The success in organizations, people, and businesses is doing for others what others could not do.  Thinking with the “Can Do Attitude.”

May

9

In the business world you must look outside the box as an entrepreneur.  Looking outside the box you will notice there is opportunity every where.  Even though other people see something else:
problems instead of opportunity.  The discriminator will notice the difference between opportunity and failure.

The Opportunity Business Model:
Don’t over analyze your business ideas.  These ideas should be able to pass a determination test; which will help to validate the opportunity.  Your ideas should be able to pass a simple test: Need in the market, market ready, and the most important test is the ability to receive a proven return on your investment.  Also during this market evaluation do you have the resources?  Will your idea have a market place.  Market demand?  Do you have the labor and resources to put this idea in place before the market closes?

As an entrepreneur you need to be opportunity-focused with the customer and market.  Analyzing the market structure, size, growth, capacity, market share, cost, and barriers.

Some of the all time questions to ask yourself, while evaluating your product in the market you wish to capture.
Opportunity evaluation:

What need are you filling?
Market target?
What makes your company different from existing companies?
Are there any barriers in the market?
What is your competition in the market?
What is the market size in dollars?
Is there market growth or not?
How much of the market would you capture?
Marketing strategy of the company?
Start up cost?
Will you raise investment capital or use debt capital?

With these questions in mind will your idea be profitable?  How long will it take you to break even?  If you do need investment capital; how much is needed to get you into the market.

Which ever direction you decide to take keep in mind that you need to develop a plan.
A written plan will give you a strategy to follow.
Having a developed structured plan will give you
a greater advantage in capturing your market share.

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