10 Mistakes Small Business Owners Need To Avoid

Keywords: Small Business Mistakes

Being successful in business is a delicate juggling act of doing the right thing while simultaneously avoiding costly mistakes.

Unfortunately, many small business owners--especially new business owners-- make simple mistakes that could easily be avoided with a little diligence and some inside knowledge.

Here's a list of ten of the more common errors I've observed during my years working with small business owners:

The True Cost of Self-Employment

Keywords: Self-Employment

Do you think you are ready to make that leap to full self-employment? The profit from your part-time (up till now :-) business is matching or exceeding your regular paycheck, so you think it’s time to fire your boss and make do without that paycheck. Before you take that final step to personal freedom, make sure you truly understand what you are giving up. Your employer paid benefits may cost you more than you realize. For many people it will take more than $40,000 of profit per year to replace a $40,000 annual salary.

When I talk about your employer paid benefits I’m not referring to the “free” office supplies, subsidized soft drinks, or even the occasional free meal at the holiday party. The items that you need to consider are the benefits that are going to cost you the most money. Although if you really like soda I guess you might want to include this too! According to a survey published by the US Chamber of Commerce in January 2004, employer paid benefits averaged 42% of an employees salary in 2002. That means you need an additional 35 – 45% more than your current salary to make up for these lost benefits.

Are You a Small Business Casualty?

Keywords: Network Marketing

When a person knows and knows not that he knows. Teach him.

When a person knows and knows that he knows. Follow him.

I have read a lot about Network Marketing and MLM and I have learned a few things which you might like to know. And the one thing that I know for sure is that network marketing sells.

If you have been in business and your business has turned you into a small tipper, we all know why. The cash flows only in one direction...OUT.

For those for whom the cash flows IN, the secret is that they never stop trying, learning and marketing.

"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those which fail." Napoleon Hill

How To Reorganize Your Time To Accommodate A Home-Based Business

Keywords: Time Management

Almost everyone needs or wants more money coming in, and with this desire most would like to start some sort of extra income-producing project.

The trouble is, not many of these people seem able to fit "a second job" into their time schedules.

It's true that most people are busy, but extra time for some sort of home-based extra income-producing project can almost always be found.

It may mean giving up or changing a few of your favorite pastimes -such as watching TV - but if you score big with your extra income project, you will have all the time you want for doing whatever you want to do.

The first thing to do is to sit down with pencil and paper and list your daily schedule. What time do you wake up?

A Great Way to start an Online Business

Keywords: Online Businesses

You want to start an online business,but you realize that you don't have a product,a web site, or prior experience. You now ask yourself, where do I start? Start with affiliate programs.

What is an affiliate program?

An affiliate program is a program set up by a company that sells products or services. When you introduce new customers to the company you receive a cut of the profits,in other words a commission of the sales made.

Some companies pay you for sending them leads.Others pay only when the visitor that you send them makes a purchase.

How to join an affliate program

Most of the time all you have to do is provide your contact information and agree to the company's terms and conditions. Some companies will charge you a small fee to get started.

How to Grow Your Business

Keywords: Hiring

This isn't about marketing; that's another article. This is about growing your business when you're really ready to take a leap: when you're ready to hire.

Yes, you're an entrepreneur, and the day has come. Reluctantly, marvelous as you are, you realize you've got to get help. Your plate is full. No, actually it's been too full for too long. Something has finally triggered in you this need to hire someone, and likely it wasn't pleasant.

We entrepreneurs all share one thing in common: the feeling we can do it all. Okay, call it a "need" and call it the need to "c-word" but at any rate, it can't be denied any longer. You need to hire someone if you want to
(1) survive and
(2) have the business grow.

Now here's the typical dilemma. Since you were previously doing everything, with a heavy finger in every pie, it's tempting to think hiring another generalist-type is the solution. In fact, better yet, how about someone just like you!

However, this is exactly what NOT to do.