Four Tips to Funding a Business Start-Up on a Shoestring

Are you unsure about whether or not to start your business because of lack of start-up funds? Many small and home business owners face this very issue in the beginning. Do not get discouraged — there are lots of ways you can fund your start-up business on a shoestring.

The first thing to remember is that there are endless numbers of success stories of shoestring businesses making it big.

One of my clients, back when I was running a web hosting business, started a baby sling company from her kitchen table. She simply purchased fabric and thread and used a sewing machine she already had to create a sling that was comfortable for her, and her baby. She really did not even plan to start a business.

But after getting rave reviews from friends and strangers at the grocery store, she started selling her slings online.

Today, she is a well-known sling maker whose products have been in big box stores and who sells thousands of dollars a day from her website.

Be encouraged and know that you can build a successful business from scratch, but you have to be focused and never willing to quit.

The second suggestion that many who have been in your shoes suggest, is not to quit your job until your business begins showing a profit. All too often, new business owners are enamored with the idea of owning and running a business and quit their day jobs, only to discover that funds run short fast. Then they are forced to take extreme measures, or look for another job.

Next, you have to truly know your business inside and out. How much money will it cost to run your business? You should complete a business plan, which will tell you if your business idea will be a feasible one or not. Research similar businesses and find out what kinds of profits and losses they are seeing.

Finally, if you find that you still need some financial backing but you do not want to borrow money from a financial institution, find a few investors. Present your business idea, along with your prepared business plan and research to trusted friends and colleagues and request their financial backing for your start-up business. Many times you will be able to obtain this kind of monetary help from those who believe in your business and want to see you succeed.

Posted in Uncategorized | Comments Off

11 Mistakes New Coaches Make In Business

Most Coaches start out in business for reasons such as, wanting to quit their full time job and be their own boss, or they want to gain the financial and personal freedom of being an entrepreneur, they also want to help people and make a difference in their life. No matter what the reason is, being a Coach is a fantastic profession to go in. However, what many Coaches don’t realize until they are in the beginning stages of their Coaching career is that starting a coaching business is not always as easy as it seems. Many Coaches struggle trying to make it work and trying to make that leap to a successful Coaching business. In this report I will share with you eleven mistakes new Coaches make that are holding them back from reaching their ultimate goal of having a successful business.

Mistake #1: Spending too much time getting ready!

Many Coaches spend too much time preparing themselves to get started. They work on their website, their marketing materials, finishing up their Coaching training, and focusing too much on “getting their ducks in a row” instead of getting out there and start Coaching. Many also feel that they are not ready to Coach because they think they are not good enough yet but to be honest, you won’t learn until you go out there and Coach. You will only learn how to make it better once you notice the mistakes you make while you make them or you realize that you could make some changes in certain areas but the key to becoming a good Coach is you must practice! Think about the time you started a new job, you didn’t prepare yourself for weeks or months to start that job, no you learned and got better by doing. It is all a learning curve.

Mistake #2: Don’t have a Coach that can guide them in the process

Every Coach should have their own Coach that can guide them to move forward and to help them get through the things that are holding them back. Especially if you are a new Coach it is extremely important to work with a Coach to help you move forward. Of course you can try to figure things out on your own and spend a lot of time and a lot of money on things that are not working. Where, if you would work with a Coach that has already been there and done it, and learn from them, you can get to where you want to be much faster.

If you are worried about not being able to afford a Coach, especially when first starting out, then consider this… how can you expect others to pay for your Coaching services if you don’t even pay for a Coach? Also, think about the amount of money and time you waste on things that are not working or trying to figure things out on your own? Some Coaches even work with you on the fees and some even agree on some sort of barter service.

Mistake #3: Don’t collaborate – they rather stay an army of one!

As a Coach, it is important to collaborate with others either in the same industry or they can even be in a completely different industry. Many Coaches think they are in business by themselves but the truth is that only when you collaborate with like minded individuals will you get to where you want to be… create an army of many rather than staying an army of one! Collaboration is the key to success because you can build business relationships, do business together such as webinars, seminars, workshops, even co-author a book, create products, and help each other grow. When you collaborate with other Coaches or experts in the industry they can promote you to their network and you can promote them to your network, that’s a win, win situation.

In today’s time and age you can even collaborate with individuals all over the world, and build your business on a nation-wide and even world-wide level.

Mistake #4: Doing too much training and not applying what they learn – Apply as you learn

Have you ever thought to yourself that you have to complete this one course before you can start, or you still need to take this course and that course, and maybe even this other course too? Too many Coaches get stuck in the “learning phase” where they take all sorts of different online courses trying to sharpen their skills or trying to learn more things that they can offer their clients but instead of applying what they learn, while they learn it, they continue taking courses without applying the things they have learned. They best way to learn something is by doing and applying the things you have learned.

Mistake #5: Giving away their services for free or not charging enough

Beginner Coaches often feel that they can’t charge much or at all for their services because they are just starting out and they are not very experience yet. Now let me ask you this, do you think doctors who just finished medical school offer their services for free? No! They charge for their services because they went to school for many years to learn how to be a doctor and they are providing a service. The same applies to Coaches, they have gone through training, they have learned how to be a Coach and they too provide a service. You also don’t need to tell clients that you are just a beginner or that you haven’t had that many Coaching hours, if they don’t know, don’t advertise it. You are an expert and you should position yourself and present yourself as an expert because you most likely will know more about Coaching than your clients.

Now, in regards to how much to charge, even when first starting out you can charge more than just $50 or $75, you should base it of your demographics and your target market.

Mistake #6: Don’t choose a specific Niche

Many Coaches don’t choose a specific niche, they want to help anyone and everyone, the only problem with being too broad is that it makes it harder to find clients. Any marketing strategies would be like throwing mud against the wall, some sticks but most of it falls down. It’s the same with marketing to everyone; it would not be very effective. Instead, choose a specific niche and become an expert in that niche, for example a life Coach that specializes in goal setting or finding your dream and passion; another example would be a relationship Coach that focuses on helping divorcees find their way after divorce. By choosing a niche you can target your marketing towards your target market, in this case it would be individuals who are going through a divorce or individuals who want to find their true passion. Choosing a niche will make your marketing efforts much more effective.

Mistake #7: Don’t treat their business as a business

When starting your Coaching business you must treat your business as a business where you focus on growing your business and generating revenue. If you don’t earn any revenue, if you don’t have anyone to Coach, you don’t have a business, you have a hobby. Being in business means you have to commit to it, and do the things you know you need to do on a daily basis. Being an entrepreneur is a life style, you live it each and every day. Sometimes that also means not going out with friends instead working on your business. Only when you treat your business as a business will you be able to grow it into a successful business. This applies especially if you still work a full time job; you have to invest the necessary time into growing your business, into marketing and networking.

Mistake #8: Thinking clients will come to them

Just because you open your doors and start offering your Coaching services does not mean clients will be flying in through the door! Unfortunately it is not that easy. You have to go out and find your clients, you have to build awareness and let people know you are in business. As a Coach you should focus on things that gets the word out, you can do webinars, go to trade shows and expos, do seminars and workshops, anything that will get you out there and in front of your target market. Too many Coaches sit at home or in their office waiting for clients to knock on their door which only causes them to lose out on clients and eventually they get frustrated because they have a hard time getting clients. The key is to go out and network, network, and network some more.

Mistake #9: Trying to do everything

Being in business means you have to do everything that is involved with running a business, from doing your accounting, your marketing, creating products, making calls, setting appointments, sending out emails, to conducting your Coaching sessions. All these things are important and a necessary part in running your business. However, sometimes you might feel overwhelmed and that the day doesn’t have enough hours to get everything done. One thing you can do is hire a Virtual Assistant or to outsource some of the things that take up most of your time. For example, your accounting or building your website, things like that you can outsource. Even if you are just starting out and you don’t have the cash flow yet, try to delegate as many things to free up your time where you can focus on getting clients or creating products. Delegating is a very important part of being in business, you simply can’t do everything by yourself or you will eventually burn out. And how can you help others when you are so exhausted that you don’t even want to get on the phone or talk to your clients?

Mistake #10: Don’t focus on building their list – getting leads

One of the first things to focus on is building your list. You need to have people that you can contact about your services and building your list of contacts and getting leads is the key. There are different ways you can build your list; you can do an opt-in form where you give away a free report for example in return for someone’s contact information. You could also collect business cards at expos or networking events, plug each contact into your database and start marketing to them. Start working on building your list early on and make it a priority. You should have an abundance of leads that you can market to and reach out to. So start building your list!

Mistake #11: Being a perfectionist

Being a perfectionist is one big challenge many Coaches face because they try to get their website, blog, Coaching packages, or products perfect before they get it out. The problem is, you will never get it perfect, you will always find something that you don’t like and spend days, even months trying to get it perfect. Instead, focus on completion rather than perfection. Once you release a course, a product, or launch your website, you can always make changes to it as you go.

Posted in Uncategorized | Comments Off

The Importance Of Business Administration Education

In today’s world it is essential to be educated and highly qualified. There are so many qualified people and only so many jobs. So unless you have enough of degrees, it is not easy to land yourself a good job. There are many universities and colleges offering excellent courses. Some of the courses are full time and others part time. There are also colleges which offer courses online. This works very well for people who are already working or for some reason are not able to attend college or university regularly. Some of these online colleges offer courses in many subjects but some specialize in certain streams only. Business Administration Bachelor’s Degree is one of the popular courses offered as an online degree.

Courses Offered
The different online courses offered for Business Administration Bachelor’s Degrees can vary from one year honors courses or a two year course. Choosing to enrol in one these courses would mean that you would have to attend college once a week. Certain days are offered and you choose the one that would work best. Classes are held on weekends too; hence you do not have to take off from work. The staff is normally very good and you could receive online support from the many teachers available online. The normal method of evaluation is a continuous assessment, which means no final semester exams are held.

How Can A Degree Help?
It is possible to get a job soon after passing out of school, but they would most probably be low paid jobs with not much of a future. But if you are ambitious and would like to climb the career ladder then you should arm yourself with some good degrees. It would also mean more highly paid jobs. It also helps you when you have a family. Parents with a degree will be able to be more involved with the education of their children. They would be able to help them with their school work or projects. Children are thus motivated. Finally it is easier to get a job if you have a Business Administration Bachelor’s Degree in your list of qualifications on your resume.

Other Courses Offered
There are other courses too offered by these online colleges. MBA programmed that last a year, a bachelor’s degree in computer science and in information technology. These courses are so designed that it will easily accommodate the already demanding schedule of the student, since many of them are working. They give the student the choice to choose between evening classes or weekend classes, and hence they do not have to miss work. All these points work in favor of the student and thus many working people are trying to get themselves more qualified by enrolling in the various courses like the Business Administration Bachelor’s Degree which is also being offered.

Posted in Uncategorized | Comments Off

Administrative Jobs

Let’s face it – the job market nowadays is virtually non-existent. The unemployment rate increases every single day. You almost need to know someone who knows someone in order to even land a job interview. It seems that the only jobs available are in specialized fields. One type of occupation that will probably always be in demand is the administrative field. Almost any successful company needs someone, to some degree, for administrative jobs. Businesses have customers and customers need to be able to reach them. This requires someone to answer those phone calls. Most times, employees and owners don’t have the time or energy to handle those needs themselves. Therefore, administrative jobs are quite a necessity to them.

What do administrative jobs typically entail? As mentioned,jobs will require you to become familiar with various types of phone systems and have the ability to be able to communicate with customers and clients. You’ll probably need to be able to use a computer with a great amount of ease and skill. Some companies will require their administrative jobs to have very minor computer skills while others will have specialized programs that you need to be able to move through perfectly. Where there are computers and papers that are printed out as a result of that computer usage, there are usually filing systems. You may find that some administrative jobs require a lot of tedious filing and others have very little time involved with paperwork. Depending on the size of the company, the amount of paperwork generated and what type of business it is, the filing needs could vary greatly.

What are some other responsibilities of administrative jobs? These jobs may require that you do a lot of annoying tasks as well – from filling up the paper trays for the printers to scheduling personal appointments for your superiors, the boundaries for these positions may be constantly changing. A particular personality may be needed for administrative jobs. Not everyone is tolerant enough to jump up and down to get a beverage for clients or put more toner in the copy machine. However, if you don’t mind some of the mentioned tasks and have excellent people skills, looking into administrative jobs may be ideal for you.

While it isn’t easy to find any vacant job positions right now, administrative jobs are always needed and may not always be advertised. Take some time to create a resume that highlights and focuses on your administrative skills. Pick out some local businesses, of all sizes, and pay them a visit. No, they may not be hiring or advertising any possible vacant positions. However, no harm will come from marketing yourself in times of need. What’s the worst that can happen? You are shown the door and your resume is tossed aside? Sure… that can happen. So what. You just may find that you walk through the right door at the right time and one of those jobs will soon be yours for the taking.

Posted in Uncategorized | Comments Off