Advantages – Disadvantages of Owning Your Own Company, owning your own business.#Owning

Advantages & Disadvantages of Owning Your Own Company

Owning your own business

Entrepreneurs are responsible for all financial aspects of their business.

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Many people dream of owning a business and see it as a way to control their own destiny. Starting a business is an exciting venture that offers many benefits. However, you should also analyze what it takes to run a successful business. Although no special skills are required, running a successful company takes determination, patience and an understanding of business principles. Not fully understanding the advantages and disadvantages of owning your own company may hinder your path toward successful entrepreneurship.

Salary Potential

When you work for an employer, you know your annual salary and little opportunity is available to earn more money on your job. Starting your own business gives you the potential to earn a high salary. Productivity, pricing and marketing plans are all under your control, and the income you earn relates to those activities. Although earning a high salary is not a guarantee, the potential to earn a lucrative income is available.

Do What You Enjoy

Owning a company gives you the opportunity to work in a field you enjoy. Working in an industry you re passionate about helps you better handle down times in your business. Owning your own business allows you to create and contribute, which gives you personal satisfaction. Most entrepreneurs working in a field they enjoy also bring their expertise, which allows them to offer innovative products and services to customers.

Business Control

Entrepreneurship gives you the control over your business. If you operate a sole proprietorship, you make the final management decisions regarding your company. Some individuals thrive in situations where they experience independence. Owning a business gives you the power to control how active you are in the business. You can participate in every step of the decision-making process, or you can hire competent people to make decisions in the best interest of the company.

Demanding Work Schedule

Many business owners work long and erratic hours, and some people view this as a disadvantage. Work schedules are the most grueling for new business owners, because they usually handle time-consuming administrative tasks. The responsibility of running the business ultimately rests upon your shoulders, so you may experience days when you need to stay in the office until the task is complete.

Financial Risks

A disadvantage of owning a business is that you must incur financial risk. Whether you used your own savings or borrowed money for startup costs, the money invested in your company is at risk. Some companies go out of business and cause business owners to lose their initial investment or default on business loans. Even with a solid business plan, economic volatility can cause your business to lose money and eventually close for good.

Liability

Depending on your business structure, creditors and customers may possess the ability to seek your personal assets if you default on your business obligations. If a customer or vendor believes you acted in error, he may file a lawsuit against you. To protect your company’s assets, you can seek liability insurance for your business, but some new business owners may find it difficult to afford insurance premiums.





The Advantages of Owning Your Own Business, owning your own business.#Owning #your

The Advantages of Owning Your Own Business

Owning your own business

There are thousands of articles cautioning would-be self-employed types about the pitfalls of starting their own businesses, but almost nothing about how great owning your own business is.

One article certainly won t right the balance, but for the benefit of those who are thinking of plunging into the self-employed lifestyle and opening small businesses of their own, here is a summary of the best advantages of owning your own business.

When you own your own business:

1) You re the one in control.

Yep, the be your own boss thing is pretty great. I should lie to you and tell you that that means that no one tells you what to do, but people (customers, suppliers, government workers) will still tell you what to do all the time (and on bad days, might even tell you where to go, too).

The good news is that when you own your own business, you don t have to do what they tell you (most of the time). You have choices and you get to make the decisions.

2) You get to build something.

From one kid who loved Legos to another, you know how satisfying that is. Want to become a multi-national exporter? Or create a program that increases numeracy among children? Or turn people s yards into truly beautiful spaces? When you own your own business, you get to shape and flesh out your dreams.

3) You get to help people.

A TD Canada Trust Small Business Survey found that ninety-six percent of small business owners said that being able to help their customers and clients was one of the top benefits of owning a small business.

Small businesses also help people by creating jobs in their communities and being good community citizens.

4) You may have the option of a more flexible lifestyle.

For women, especially, owning your own business can give the lifestyle flexibility necessary to raise a family and still have a successful career.

Mompreneurs are a growing trend; according to the State-Owned Business Report, commissioned by American Express, the number of women-owned businesses has increased by 68% since 1997, with more than 9.1 million women-owned businesses operating in the U.S. in 2014 (Fox News).

But it s not just young(ish) women who can benefit from this advantage to owning your own business; people who are close to retirement or already retired may find owning their own businesses gives them both the chance to keep their hands in and to do something satisfying. (See The Best Business Opportunities for Retirees if you re of this age and want to get started.)

5) You might change the world.

You certainly don t have to think back very far historically to come up with the name of a business owner whose enterprise has changed the world. Mark Zuckerberg anyone? Bill Gates? And your business doesn t have to become the next Facebook or Microsoft to be the agent of powerful change. Ten years ago, for instance, Torben Vestergaard Frandsen came up with the idea of the LifeStraw, a personal, low-cost water purification tool that is being used to provide safe drinking water to millions of people.

So okay, changing the world is a pretty ambitious target, but changing just a piece of it for the better is still a worthwhile effort that can be deeply satisfying.

6) You might make more money.

Some businesses make truckloads full of money. Some don t. Most successful small businesses provide their owners with a living, not a fortune. But the point is, owning your own business opens up the possibility of making more than you could possibly make as an employee.

Working on the assembly line that produces cat clocks will bring you in a certain wage but what if, for example, there s a huge surge of demand for cat clocks and the company s profits soar astronomically? As an employee, you won t share in any of those profits. Businesses generally have much more opportunity to make money than individuals do.

Other Advantages of Owning Your Own Business

The advantages of owning your own business listed above apply to all businesses with the caveat that those who choose to run retail businesses will find it more difficult to create a flexible lifestyle because of the demands of retail trade.





Fancy owning your own private woods in the Peak District? Now s

Fancy owning your own private woods in the Peak District? Now’s your chance

Six plots of forest – totalling 16 acres – are being sold by the National Park from £20,000

  • Share
  • 16:21, 13 JUL 2017
  • Share

Fancy owning your own private wood in the picturesque Peak District?

Six plots of forest – totalling 16 acres -are being sold by the National Park from 20,000.

But don’t start planning your perfect rural retreat or out-of-bounds business – there are strict rules governing the use of the land which ban almost everything apart from enjoying a quiet walk.

The restrictions stop new owners from developing the land or carrying out certain activities including; paintballing, quadbiking or even camping there once you’ve bought it.

This means no paintballing, quadbiking or even camping there once you’ve bought it.

According to the advert, ‘The woodland is to be kept as woodland in perpetuity and is to be managed primarily for biodiversity.’

This is to protect the natural habitat of the Park’s numerous species of animals.

Owning your own business

Read More

The plots are among acres of land salvaged by the National Park and includes former quarries and rubbish dumps which have now been restored to woodland.

The National Park has already sold off 14 plots to private owners in a bid to reduce their costs.

In a statement released by the National Park, it says: “The woodland sales allow us to focus on the protection, improvement and maintenance of our other holdings and any woodlands sold will still be regulated by the Forestry Commission in accordance with the UK Forestry Standard.”

The Peak District was given National Park status in 1951 and currently owns 100 woodlands, which it has acquired over more than 60 years.

However just five per cent of the Peak District is owned by the National Park. The remaining 95 pc is owned privately.

Prices for Flagg Moor Wood, Jackson’s Plantation and Cotesfield Plantation start at 20,000.

No price has been provided for the other parcels of woodland, with the advert asking for offers.

Read More

The six woods up for sale

Barmoor North Wood, north of Doveholes, 0.67 acres

Owning your own business

Barmoor South Wood, north of Doveholes, 0.59 acres

Owning your own business

Cotesfield Plantation, north of Parsley Hay, 5.16 acres

Owning your own business

Crossroads Wood, Blackwell/Taddington, 0.12 acres

Jackson’s Plantation, Peak Forest, 4.89 acres

Owning your own business

Flagg Moor Wood, Pomeroy, near Flagg, 4.77 acres

Owning your own business

For more details on the woodland available, click here for further details.





The Downside To Owning Your Own Island: NPR, owning your own business.#Owning

The Downside To Owning Your Own Island

Owning your own business

Billionaire Larry Ellison signed a deal announced this week to buy nearly all of the 141 square-mile Hawaiian island of Lana’i. rickh710/Flickr hide caption

Who hasn’t dreamed of having their own coral-fringed island, lounging on its sandy beach, coconut daiquiri in hand?

So the news this week that Oracle CEO Larry Ellison just purchased almost the entire Hawaiian island of Lana’i (price tag reportedly $500 million) may make most of us more than a little jealous. It’s good to be Larry — or Johnny (Depp) or Richard (Branson) or Celine (Dion), to name a few others in the elite club of island owners.

It’s not difficult to envision the benefits of having your own piece of water-bound paradise. But what about the downside? We talked to Chris Krolow, the CEO of Private Islands, a Toronto-based company that sells 20 to 25 islands a year through its website, newsletter and magazine, Private Islands.

Location, Location, Location

The old adage that real estate is all about location is doubly true when it comes to buying an island, which by definition carries certain obstacles to access. In short, you’re likely going to need a boat. Or perhaps a jet, which means your island had better be big enough to house a runway.

Owning your own business

It’s great to have your own private island like this one in the Caribbean, unless there’s a hurricane bearing down. Christian Wheatley/iStockphoto.com hide caption

It’s great to have your own private island like this one in the Caribbean, unless there’s a hurricane bearing down.

“Most people who want an island are avid boaters,” Krolow says. Ellison, who has competed in numerous offshore sailing races and owns his own elite sailing team, certainly qualifies. But even the most ardent boater wants relatively easy access to their island idyll.

Krolow recalls showing one couple an island in the Bahamas recently. “We spent 13 hours getting to it by cigarette boat, and it was sort of obvious that the husband and wife thought that was too much,” he says.

Then there was that $28,000 steal that sold not long ago in Nova Scotia — a very remote part of Nova Scotia.

“If your island is near an area that is supersaturated or superdeveloped, like parts of ‘cottage country’ near Toronto, chances are the islands are going to go for a premium,” Krolow says. “The opposite is true in Nova Scotia, where locals would never buy an island — they don’t want to deal with the hassles of getting there, the weather and the fog.”

Weather can be an obvious problem. Paradise can seem anything but, if there’s a hurricane or tropical storm with damaging winds and dangerous squalls bearing down.

Islands typically have their own ecosystems, and in many locations, you’ll need an environmental impact study before you can even begin to think about development.

In the Bahamas, where Private Islands does a lot of business, that’s likely to cost a cool $50,000 or so, Krolow says. And in Ontario, any island you buy has to be a minimum of 1 acre in area or you won’t get a permit to build on it.

There’s also the possibility that someone else will claim it’s their island, not yours.

“Every once in a while, there may be someone contesting a deed on the basis of squatter rights,” Krolow says. “It’s happened in the past in Central America, and that’s caused the deal to fall through.”

And what if someone demands to use the beach on your island?

A couple who bought Dobbins Island in the mouth of Maryland’s Magothy River in 2003 found themselves embroiled in a years-long battle with boaters and environmentalists over public access and development on the 7-acre island. The legal fight still isn’t over.

What About Indoor Plumbing?

To avoid these environmental and land-use restrictions, many island shoppers look for the sweet spot between developed and undeveloped, Krolow says. But they could be in for a rude awakening when it comes to some of the costs and concerns involved with development.

“The most sought-after islands are the ones that have some development, but it’s not necessarily reflected in the price because it’s dilapidated or whatnot,” he says. “That’s because you can usually replace whatever was there without too many restrictions, and that can save a lot of time and money.”

You might get lucky and have a good freshwater source of water on your island, but getting power from the mainland is “a big, big bonus,” Krolow says. Otherwise, you’ve got to generate it yourself.

And hauling a generator, not to mention other building materials should you want to build anything on your island, isn’t easy or cheap.

So an island that’s already developed can be good, but you’d better like what the previous owner did with it.

Krolow cites one particular island in the Bahamas with an asking price of $10 million.

“It had its own runway, a series of buildings, sandy beaches and even power from the mainland,” he says. “But it stayed on the market for a very long time and, in my opinion, sold for way under price because there wasn’t a lot of ‘vision’ left.”

That’s because buying an island is something of a mini-exercise in megalomania — many owners want to make their own kingdom, not one inherited from someone else. Of course, once you’ve created your island empire, the flip-flop is on the other foot once you want to sell.

Perhaps more than any other type of real estate, an island invites the owner to “make their mark,” Krolow says. “So islands that are already overdeveloped — something where that vision is already pretty much done — those might stay on the market for longer.”

An island might sound like the perfect place to get away from the stresses of life on the mainland, but too much privacy can be stifling for some people. Celebrities may have a different problem.

Most of us probably wouldn’t have to worry about being stalked on our own private island. Not so if you’re Johnny Depp.

“In this era of Google Earth, an island isn’t the best hiding place,” Krolow says.





Owning Your Own Future, owning your own business.#Owning #your #own #business

The New York Times

Owning your own business

Owning your own business

PALO ALTO, Calif. — Political analysts will long debate over where Brexit, Trump and Le Pen came from. Many say income gaps. I’d say … not quite. I’d say income anxiety and the stress over what it now takes to secure and hold a good job.

I believe the accelerations set loose by Silicon Valley in technology and digital globalization have created a world where every decent job demands more skill and, now, lifelong learning. More people can’t keep up, and clearly some have reached for leaders who promise to stop the wind.

Let me elaborate through a few conversations, starting with Brian Krzanich, the C.E.O. of Intel, who recently remarked to me: “I believe my grandchildren will not drive.”

Since he has teenage daughters, that means self-driving vehicles should be fully deployed in 25 years, at which time you won’t “steer” your car but will program it on a smartphone or watch or glasses. Sounds like fun — unless you’re one of the millions who drive a truck or cab for a living.

But don’t think you’re safe as an accountant, either.

Mark Bohr, Intel’s senior fellow for technology, explained to me that Intel’s main workhorse microprocessor today is the 14-nanometer chip it introduced in 2014. It packs 37.5 million transistors per square millimeter. By the end of 2017, thanks to Moore’s Law, Intel will begin producing a 10-nm chip that will pack “100 million transistors per square millimeter — more than double the previous density with less heat and power usage,” said Bohr.

If you think machines are smart today … wait a year. It’s this move from 14-nm to 10-nm chips that will help enable automakers to shrink the brain of a self-driving car — a brain that has to take in sensor data from 360 degrees and instantly process whether it’s a dog, a human, a biker or another car — from something that fills a whole trunk to a small box under the front seat, so these cars can scale.

When you get that much processing power, putting out that much data exhaust with ever-improving software, you create a world where we can analyze, prophesize and optimize with a precision unknown in human history. We can see trends we never saw, predict when engine parts will break and replace them before they do, with great savings, and we can optimize everything — from the most energy-saving flight path for an airplane to the ideal drilling path for a natural gas well.

I recently visited the control room at Devon Energy, a large oil and gas producer, in Oklahoma City. It’s half a floor of computer screens displaying data coming out of every well Devon is drilling around the world.

At the bottom of each screen are two boxes that blew my mind. One box displays how much money was budgeted to drill that particular well per foot, and the other box displays — in real time — how much the drilling of that well is actually costing, as it bores through different rocks, and it’s updated every foot!

Interactive Feature | Sign Up for the Opinion Today Newsletter Every weekday, get thought-provoking commentary from Op-Ed columnists, the Times editorial board and contributing writers from around the world.

A typical well might involve sending pipe two miles down and then turning horizontally for two miles east or west — with such precision it can hit a seam of gas as small as 20 feet wide!

If you’re working on a Devon oil rig today, you’re holding a computer, not just an oily wrench. And if you’re getting a degree in auto mechanics at a community college today, it’s not to be a “grease monkey.” It’s to be a repairman for a computer with wheels.

The notion that we can go to college for four years and then spend that knowledge for the next 30 is over. If you want to be a lifelong employee anywhere today, you have to be a lifelong learner.

And that means: More is now on you. And that means self-motivation to learn and keep learning becomes the most important life skill.

That’s why education-to-work expert Heather E. McGowan likes to say: “Stop asking a young person WHAT you want to be when you grow up. It freezes their identity into a job that may not be there. Ask them HOW you want to be when you grow up. Having an agile learning mind-set will be the new skill set of the 21st century.”

Some are up for that, some not; and many want to but don’t know how, which is why the College Board has reshaped the PSAT and SAT exams to encourage lifelong learning.

“We analyzed 250,000 students from the high school graduating class of 2017 who took the new PSAT and then the new SAT,” College Board president David Coleman told me. “Students who took advantage of their PSAT results to launch their own free personalized improvement practice through Khan Academy advanced dramatically: 20 hours of practice was associated with an average 115-point increase from the PSAT to the SAT — double the average gain among students who did not.

“Practice advances all students without respect to high school G.P.A., gender, race and ethnicity or parental education. And it’s free. Our aim is to transform the SAT into an invitation for students to own their future.”

So the tough news is that more will be on you. The good news is that systems — like Khan-College Board — are emerging everywhere to enable anyone to accelerate learning for the age of acceleration.

Step back from all of this and it’s clear that thriving countries today won’t elect a strongman. They’ll elect leaders who inspire and equip their citizens to be strong people who can own their own futures.

Follow The New York Times Opinion section on Facebook and Twitter (@NYTopinion), and sign up for the Opinion Today newsletter.





The Pros and Cons of Owning Your Own Home, owning your own

The Pros and Cons of Owning Your Own Home

If you re considering buying a house, use the Pros and Cons of Homeownership worksheet provided here to guide your decision as to whether home ownership is right for you. Put a check mark in one box on each line based on which situation you feel more strongly about and whether that situation is a pro or a con.

Owning your own business

In this worksheet, you identify the major advantages and disadvantages of owning a home. This decision involves considering all reasonable options before you come to a final conclusion. Can you lease an apartment or home and better fulfill your personal needs and objectives? Are there any other options to consider?

Another important consideration is how long you plan to stay in the home. As a general rule, to cover just the costs of buying and selling the home (which includes obtaining a mortgage and an appraisal, application fees, inspections, movers, title insurance, legal fees, and real estate commissions), a property has to appreciate at least 15 to 20 percent for you to break even. In addition to knowing how long you plan on staying in the home, you also need to be able to guesstimate how your new home will appreciate over that time. In most real estate markets, this rate of appreciation typically takes three to seven years.

Buying a home makes little or no sense if you don t plan to stay there at least three years. Nolo, the nation s oldest and most respected provider of legal information for consumers, has a series of great calculators you can access at no charge through their Web site. One is entitled, Should I rent or buy? You plug in all the facts and assumptions, such as inflation rate on rental prices, your tax rate, average maintenance costs when owning your own home, appreciation expectations, and how long you plan to stay, and the calculator does the math for you.

If you determine that purchasing a home has more advantages than disadvantages, and you re confident of your willingness and ability to stay in the home for a number of years, you can begin to explore how much home you can afford.





Owning Your Own Future, owning your own business.#Owning #your #own #business

The New York Times

Owning your own business

Owning your own business

PALO ALTO, Calif. — Political analysts will long debate over where Brexit, Trump and Le Pen came from. Many say income gaps. I’d say … not quite. I’d say income anxiety and the stress over what it now takes to secure and hold a good job.

I believe the accelerations set loose by Silicon Valley in technology and digital globalization have created a world where every decent job demands more skill and, now, lifelong learning. More people can’t keep up, and clearly some have reached for leaders who promise to stop the wind.

Let me elaborate through a few conversations, starting with Brian Krzanich, the C.E.O. of Intel, who recently remarked to me: “I believe my grandchildren will not drive.”

Since he has teenage daughters, that means self-driving vehicles should be fully deployed in 25 years, at which time you won’t “steer” your car but will program it on a smartphone or watch or glasses. Sounds like fun — unless you’re one of the millions who drive a truck or cab for a living.

But don’t think you’re safe as an accountant, either.

Mark Bohr, Intel’s senior fellow for technology, explained to me that Intel’s main workhorse microprocessor today is the 14-nanometer chip it introduced in 2014. It packs 37.5 million transistors per square millimeter. By the end of 2017, thanks to Moore’s Law, Intel will begin producing a 10-nm chip that will pack “100 million transistors per square millimeter — more than double the previous density with less heat and power usage,” said Bohr.

If you think machines are smart today … wait a year. It’s this move from 14-nm to 10-nm chips that will help enable automakers to shrink the brain of a self-driving car — a brain that has to take in sensor data from 360 degrees and instantly process whether it’s a dog, a human, a biker or another car — from something that fills a whole trunk to a small box under the front seat, so these cars can scale.

When you get that much processing power, putting out that much data exhaust with ever-improving software, you create a world where we can analyze, prophesize and optimize with a precision unknown in human history. We can see trends we never saw, predict when engine parts will break and replace them before they do, with great savings, and we can optimize everything — from the most energy-saving flight path for an airplane to the ideal drilling path for a natural gas well.

I recently visited the control room at Devon Energy, a large oil and gas producer, in Oklahoma City. It’s half a floor of computer screens displaying data coming out of every well Devon is drilling around the world.

At the bottom of each screen are two boxes that blew my mind. One box displays how much money was budgeted to drill that particular well per foot, and the other box displays — in real time — how much the drilling of that well is actually costing, as it bores through different rocks, and it’s updated every foot!

Interactive Feature | Sign Up for the Opinion Today Newsletter Every weekday, get thought-provoking commentary from Op-Ed columnists, the Times editorial board and contributing writers from around the world.

A typical well might involve sending pipe two miles down and then turning horizontally for two miles east or west — with such precision it can hit a seam of gas as small as 20 feet wide!

If you’re working on a Devon oil rig today, you’re holding a computer, not just an oily wrench. And if you’re getting a degree in auto mechanics at a community college today, it’s not to be a “grease monkey.” It’s to be a repairman for a computer with wheels.

The notion that we can go to college for four years and then spend that knowledge for the next 30 is over. If you want to be a lifelong employee anywhere today, you have to be a lifelong learner.

And that means: More is now on you. And that means self-motivation to learn and keep learning becomes the most important life skill.

That’s why education-to-work expert Heather E. McGowan likes to say: “Stop asking a young person WHAT you want to be when you grow up. It freezes their identity into a job that may not be there. Ask them HOW you want to be when you grow up. Having an agile learning mind-set will be the new skill set of the 21st century.”

Some are up for that, some not; and many want to but don’t know how, which is why the College Board has reshaped the PSAT and SAT exams to encourage lifelong learning.

“We analyzed 250,000 students from the high school graduating class of 2017 who took the new PSAT and then the new SAT,” College Board president David Coleman told me. “Students who took advantage of their PSAT results to launch their own free personalized improvement practice through Khan Academy advanced dramatically: 20 hours of practice was associated with an average 115-point increase from the PSAT to the SAT — double the average gain among students who did not.

“Practice advances all students without respect to high school G.P.A., gender, race and ethnicity or parental education. And it’s free. Our aim is to transform the SAT into an invitation for students to own their future.”

So the tough news is that more will be on you. The good news is that systems — like Khan-College Board — are emerging everywhere to enable anyone to accelerate learning for the age of acceleration.

Step back from all of this and it’s clear that thriving countries today won’t elect a strongman. They’ll elect leaders who inspire and equip their citizens to be strong people who can own their own futures.

Follow The New York Times Opinion section on Facebook and Twitter (@NYTopinion), and sign up for the Opinion Today newsletter.





Fancy owning your own private woods in the Peak District? Now s

Fancy owning your own private woods in the Peak District? Now’s your chance

Six plots of forest – totalling 16 acres – are being sold by the National Park from £20,000

  • Share
  • 16:21, 13 JUL 2017
  • Share

Fancy owning your own private wood in the picturesque Peak District?

Six plots of forest – totalling 16 acres -are being sold by the National Park from 20,000.

But don’t start planning your perfect rural retreat or out-of-bounds business – there are strict rules governing the use of the land which ban almost everything apart from enjoying a quiet walk.

The restrictions stop new owners from developing the land or carrying out certain activities including; paintballing, quadbiking or even camping there once you’ve bought it.

This means no paintballing, quadbiking or even camping there once you’ve bought it.

According to the advert, ‘The woodland is to be kept as woodland in perpetuity and is to be managed primarily for biodiversity.’

This is to protect the natural habitat of the Park’s numerous species of animals.

Owning your own business

Read More

The plots are among acres of land salvaged by the National Park and includes former quarries and rubbish dumps which have now been restored to woodland.

The National Park has already sold off 14 plots to private owners in a bid to reduce their costs.

In a statement released by the National Park, it says: “The woodland sales allow us to focus on the protection, improvement and maintenance of our other holdings and any woodlands sold will still be regulated by the Forestry Commission in accordance with the UK Forestry Standard.”

The Peak District was given National Park status in 1951 and currently owns 100 woodlands, which it has acquired over more than 60 years.

However just five per cent of the Peak District is owned by the National Park. The remaining 95 pc is owned privately.

Prices for Flagg Moor Wood, Jackson’s Plantation and Cotesfield Plantation start at 20,000.

No price has been provided for the other parcels of woodland, with the advert asking for offers.

Read More

The six woods up for sale

Barmoor North Wood, north of Doveholes, 0.67 acres

Owning your own business

Barmoor South Wood, north of Doveholes, 0.59 acres

Owning your own business

Cotesfield Plantation, north of Parsley Hay, 5.16 acres

Owning your own business

Crossroads Wood, Blackwell/Taddington, 0.12 acres

Jackson’s Plantation, Peak Forest, 4.89 acres

Owning your own business

Flagg Moor Wood, Pomeroy, near Flagg, 4.77 acres

Owning your own business

For more details on the woodland available, click here for further details.





Owning Your Own Business Advantages and Disadvantages #small #business #start #up

#owning your own business

#

Owning Your Own Business Advantages and Disadvantages

Making the decision to open and run you re very own business is a huge one, for sure. It s often an extremely exciting time in a person s life and has the prospect of putting them on the pathway for an entirely different lifestyle and success. However, as we all know in today s unsure economy, running a business is also one of the biggest gambles that you could possibly take. Truly understanding the benefits that come to you from owning a business as well as the challenges and obstacles that you may face is the best way to determine if it is the right choice for you.

The Advantages of Owning Your Own Business

1. You re The Boss
One of the biggest advantages, by far, is the simple fact that you are in charge. You have the amazing ability to make every single decision when it comes to your business. This means how long you want to work, when you want to go home, the changes that need to be made, and anything else you could possibly think of.

2. Making Money For You
When you are an employee, your job is to make money for someone else, which is far less rewarding than making that money for yourself. By owning your own business, every dime that you make is yours. This has the potential to make you very successful if your business is ran well and becomes highly profitable.

3. Job Security
Many people worry every day about whether or not they will be fired, but this worry is completely eradicated if you are the business owner. There is no one above you, and because of that you are completely secure in your job and place at your business. No one can fire you, which is a major advantage.

4. It s Your Passion
People that want to start their very own business want to do it because it is something that they are passionate about. By opening up shop and providing your product or service to other people, you are successfully fulfilling your passion, which gives you major mental rewards as a person. This also makes it so that you are happy going to work every day to improve upon your company.

5. Invaluable Experience
When you work for someone else, you only get to experience one side of the business, the side that you are working with. Owning your own allows you to gain first hand experience in every aspect that is involved in running a business, which is a great way to gain experience for the future.

The Disadvantages of Owning Your Own Business

1. It s A Risk
One thing that draws many people away from starting their own business is the simple fact that it is extremely risky. You have to put down your own money, and if the business fails, it all falls on you. Many people lose everything because of starting a business that doesn t flourish or succeed.

2. Investments
Before a business can begin making money you must invest in many things. This includes the space you need to operate, the products, employees, marketing, and licenses that you are required to have. The costs can add up very quickly. It is difficult to take on these financial burdens when you are not already making money off of them.

3. It s Inconsistent
There is no way to predict how well a business will do, which is a scary thought. Your income is completely dependent on the business, so if you have a bad month or two, big problems can arise.

4. It More Than Full Time
Unlike working for a company, running your own business has no set hours that you have to work. You simply have to do what you have to do to get your business going and profitable. This could mean extremely long hours performing unpleasant tasks and handling the smallest of details that pertain to your business.

Important Facts About Owning Your Own Business

  • Some of the biggest companies in the world, had to start somewhere. Microsoft was developed in someone s garage before it became the major success that it is today.
  • A small business is defined as a company that has less than 500 employees.
  • Over 50 percent of the working people in the United States work for small businesses.
  • Over half a million new businesses are started and registered each and every month.




  • Expert Interview with Noah Wieder on the benefits of owning an ATM

    #atm business

    #

    Expert Interview with Noah Wieder on the benefits of owning an ATM

    Cash is still king in plenty of places, which is why ATMs are more popular than ever, says Noah C. Wieder, CEO of ATM Depot .

    ATM users prefer to pay with cash to avoid credit card debt and interest charges, and merchants also prefer cash users; so having an ATM nearby helps them lower their credit card processing fees.

    “So it’s a win-win for merchants who either own and operate their own ATM or who contract with an IAD to operate one for them,” he adds.

    Noah recently checked in to tell us about the benefits of investing in an ATM machine and give us a crash course on becoming an independent ATM deployer. Here’s what he had to say:

    Tell us the story behind ATM Depot. What’s on your site? Who should be reading it?

    ATM Depot caters to individuals, investors, entrepreneurs and independent ATM deployers (IAD’s) looking for a flexible, friendly, experienced and honest ATM company. We believe in transparency in an industry where we see a lot of secrets and scams .

    Who can invest in an ATM machine?

    Literally, anyone can invest in an ATM. Retailers; commercial landlords; city governments looking to increase revenues at parks, museums and other public places; entrepreneurs; and anyone who can count money.

    The cost to enter the ATM business is amazingly low. Many ATM models can be purchased for under $2,500 including shipping. The cost of not working with an experienced ATM company is the expensive part. The cost of learning from mistakes can get expensive.

    A better question is who can operate an ATM. Most investors and entrepreneurs can invest or operate an ATM business unless they have a felony criminal record or have been involved in any type of financial crime.

    What are the benefits of investing in and managing ATM machines?

    It’s very similar to most passive income business models. Benefits include:

    • Working your own hours
    • Excellent annual returns (even on locations that only have three or four users per day)
    • Minimal investment, relatively low risk
    • Getting to meet and work with great people
    • No more trading time for money
    • Great ROI

    What considerations should someone who’s interested in investing in an ATM machine make before purchasing one?

    They should read everything they can about the business. A couple of links to some of the papers I’ve authored:

    Of course, I recommend my book, The Amazing Money Machine, where I explain the entire business from start to finish. ATMdepot.com also offers serious investors a private members’ area where they can get proprietary information, forms and videos that are reserved for our IADs.

    Get a handle on your cash with Mint.com .

    What are the disadvantages and/or risks associated with these machines?

    As with any business, the biggest risk is loss of capital; however, with the ATM business that risk is minimized since the biggest investment is the ATM hardware, which is an asset that can always be moved to a new location.

    Another risk is vandalism and/or theft, but inexpensive insurance is available; and in my 20+ years in the business we’ve experienced very few of those issues (but they can occur).

    Machines do need to be serviced and cleaned regularly to make sure they remain in the best working order. While not usually an issue, there can be cash jams, printer jams, communication problems or electrical surges that can bring the ATM offline (a good surge protector is key).

    ATMDepot.com offers toll free 24/7 tech support and most issues can be resolved over the phone, but if an ATM investor owner-operator needs more help, a field service call can be arranged quickly.

    Where are the best locations for ATM machines?

    This is a big question and also varies by geography.

    While everyone knows that convenience stores, casinos, supermarkets and adult retailers are great locations, they are difficult to obtain.

    The best locations are high traffic places where people need cash, like stores that don’t accept credit cards or where a bank might be several blocks away.

    My book has an entire in-depth chapter dedicated to this topic. A good ATM company can help their IADs evaluate locations using a variety of tools including Google Maps (satellite view) to help access the area, Zillow or SearchBug Tools to hone in on certain neighborhoods and geographic characteristics to further evaluate the potential of a location.

    Where do we go to purchase an ATM machine?

    ATMs can be purchased from several different ATM companies; it’s important to compare features and models carefully. New laws and compliance requirements are forcing existing ATM operators to upgrade machines, and some non-compliant machines that should be recycled are showing up for sale on websites. Some machines are non-ADA compliant, some ATMs have old software and hardware that cannot be upgraded; so it’s important to purchase ATM machines from reputable firms with the most updated information on what ATM models are outdated.

    I wrote an eBay guide about the five questions to ask before buying an ATM since I saw so many scams on eBay for used machines.

    How are the machines stocked? Who handles stocking them?

    There are several ways to load an ATM. It’s as easy as loading a napkin holder.

    The person loading the ATM is called the vaulter. Vaulters could be the ATM owner, a professional independent cash vaulter, an armored car service, or a trusted third party. The important thing to remember is that if the vaulter is not consistent and lets the machine run out of cash, then the ATM owner and the store lose money and customers get upset. So vaulting is a very important component of the business.

    The most costly vaulter is an armored car and a cash management service, but it’s also the most reliable. So for a very busy machine, this can be beneficial; but the ATM also requires a significant lock upgrade for armored car auditing.

    The additional lock can increase the cost of the ATM by $600 to $650, which can be significant on a $2,500 machine. The least expensive solution is to have the location be the vaulter and share the revenue or pay a set per transaction fee.

    What types of machine models are available?

    We currently like the Hyosung and Genmega ATMs as they are fairly priced and very reliable. There are many different models, many of which suited to different applications. It’s best to work with someone from our office once a location is selected.

    Recommendations can then be made based on available space, traffic estimates, cash needs, visibility, and indoor/outdoor or freestanding/through-the-wall models.

    There are many questions that should be asked and answered before a specific machine is ordered by an investor. Preservation of capital, ROI, and profit potential should all be considered.





    The Hidden Benefits Of Owning Your Own Business #business

    #owning your own business

    #

    Primary Menu

    The Hidden Benefits Of Owning Your Own Business

    Steve C Click here to learn how to start your own online store

    Most people start their own business hoping to find the answers to a few key questions. How can I be my own boss and make money doing things that I enjoy? How can I be in control of my own destiny? How can I become wealthy and rich?

    Don t get me wrong, these are all very important criteria when deciding to start any business. But with these goals in mind, many first time entrepreneurs don t fully appreciate the hidden benefits of starting their own venture. The emphasis is often placed on the results and not on the journey.

    Photo By Southgeist

    After all, what could possibly be more important than making money and being your own boss? The hidden benefits that I m talking about are not related to the outcome per se, but the experiences and valuable skills that are developed in the process of running any business venture. What are some of these hidden benefits?

    You Will Gain People Skills

    I can t think of any successful business that does not require you to deal with people. If you have poor people skills, then your business will force you to develop some.

    If you are shy, your business will force you to break out of your shell. One of the beauties of taking full responsibility and accountability of your business is that it forces you do whatever it takes to be successful, even if it extends beyond your comfort zone.

    I thought that I had decent people skills until I started dealing with customers. After getting yelled at a few times, I quickly realized that customer service requires a completely different skill set in itself.

    Interacting with customers successfully involves carefully extracting needs vs wants and establishing business boundaries without insulting anyone in the process. It involves building trust and getting along with different personalities and tendencies.

    The same skills apply when establishing partnerships with other businesses as well. Knowing how to act and what questions to ask are crucial components in defining mutual goals for you and your partner companies.

    Many would be entrepreneurs fear the people aspects of business because they just don t want to deal with the drama of conflicting personalities. But interacting with people is a fact of life. You will gain people skills whether you fail or succeed, skills that are a huge asset that will apply to practically everything you will ever do.

    You Will Meet New People

    One of my favorite benefits of going into business is the relationships and friendships that you will develop. Sure, you will meet your fair share of unscrupulous and dishonest people, but you ll find that most people are worth getting to know.

    My blog is the perfect example. In the short time that I ve written this blog, I ve already met a wide variety of friends and acquaintances that I will definitely try to keep in touch with. These people are all over the map. Some of them live in the far reaches of the world. Some of them are television stars and some of them can even perform Akashic readings.

    Meeting and interacting with new people is especially satisfying because it forces you to keep an open mind. In the course of running our linens business, several of our customers have enlightened us to new ways of using our products, some of which are now proudly displayed in the art and crafts portion of our online store.

    Several customers have also suggested new products for us to carry that have provided large boosts to our overall sales.

    Fellow blogger friends of mine have taught me innovative methods of building an audience and new ways to structure and code different parts of my website. Others have provided me with mental support and motivation to continue on with my writing. It s literally impossible to list all of the benefits that I ve gained from meeting new people on the job .

    The main thing I ve learned is to never underestimate the value of a strong network of friends. Especially in the unlikeliest of situations, you d be surprised at how often a seemingly random friend can be of assistance.

    Here s a good example. My wife and I have been searching for new linen vendors for quite sometime now without much success. Just the other day, I was chatting with one of my friends who I just met online.

    In the course of our conversation, I discovered that she had a good friend who used to run a linens business! She hooked us up and all of a sudden we found a new resource with a rolodex of vendors that we could contact. I love it when random circumstances turn up like this!

    You Will Travel To New Places

    Part of running our business requires us to travel to various places to visit our vendors. Some of our vendors are in different parts of the United States and some are in different parts of Asia. Once a year, we get to travel to these places tax free .

    Last year, we visited Japan and Hong Kong and made a vacation out of it. In these harsh economic times, it might be hard to justify an overseas vacation, but our business provided us with the perfect excuse.

    Saving 30% on travel and accommodations and 15% on food costs made everything more manageable from a financial standpoint and we knew that these meetings would eventually benefit our top line.

    You Will Develop Your Public Speaking Skills

    Who hasn t been afraid of public speaking at some point in their life? Owning your own business is the perfect way to overcome your fear of addressing crowds. Whether you are pitching your idea to someone or selling a product or idea, you will be required to address groups of people whether you feel comfortable or not.

    You might suck at it at first, but over time you will gain the confidence to speak with ease in front of total strangers. I can t stress how valuable a skill this is. Running a business is all of about selling yourself and extending confidence to your customers. Powerful speaking skills can provide you with an enormous advantage when making a first impression.

    I used to hate speaking to groups of people, but I actually really enjoy it now. I love the feeling of adrenaline coursing through my veins when all eyes are on me. I love the fact that I have a captive audience that is paying attention to whatever I have to say.

    It s Not All About The Money

    If you are a hesitant entrepreneur thinking about starting your own business, you need to take more than just the numbers into account. Once you factor in the intangibles, you ll soon realize that the personal development aspects of entrepreneurship are priceless. Really, it s a no brainer. But in order to believe it, you have to take the plunge yourself.

    Ready To Get Serious About Starting An Online Business?

    If you are really considering starting your own online business, then you have to check out my free mini course on How To Create A Niche Online Store In 5 Easy Steps .

    In this 6 day mini course, I reveal the steps that my wife and I took to earn 100 thousand dollars in the span of just a year. Best of all, it’s absolutely free!

    Success! Now check your email to confirm your subscription.





    Expert Interview with Noah Wieder on the benefits of owning an ATM

    #atm business

    #

    Expert Interview with Noah Wieder on the benefits of owning an ATM

    Cash is still king in plenty of places, which is why ATMs are more popular than ever, says Noah C. Wieder, CEO of ATM Depot .

    ATM users prefer to pay with cash to avoid credit card debt and interest charges, and merchants also prefer cash users; so having an ATM nearby helps them lower their credit card processing fees.

    “So it’s a win-win for merchants who either own and operate their own ATM or who contract with an IAD to operate one for them,” he adds.

    Noah recently checked in to tell us about the benefits of investing in an ATM machine and give us a crash course on becoming an independent ATM deployer. Here’s what he had to say:

    Tell us the story behind ATM Depot. What’s on your site? Who should be reading it?

    ATM Depot caters to individuals, investors, entrepreneurs and independent ATM deployers (IAD’s) looking for a flexible, friendly, experienced and honest ATM company. We believe in transparency in an industry where we see a lot of secrets and scams .

    Who can invest in an ATM machine?

    Literally, anyone can invest in an ATM. Retailers; commercial landlords; city governments looking to increase revenues at parks, museums and other public places; entrepreneurs; and anyone who can count money.

    The cost to enter the ATM business is amazingly low. Many ATM models can be purchased for under $2,500 including shipping. The cost of not working with an experienced ATM company is the expensive part. The cost of learning from mistakes can get expensive.

    A better question is who can operate an ATM. Most investors and entrepreneurs can invest or operate an ATM business unless they have a felony criminal record or have been involved in any type of financial crime.

    What are the benefits of investing in and managing ATM machines?

    It’s very similar to most passive income business models. Benefits include:

    • Working your own hours
    • Excellent annual returns (even on locations that only have three or four users per day)
    • Minimal investment, relatively low risk
    • Getting to meet and work with great people
    • No more trading time for money
    • Great ROI

    What considerations should someone who’s interested in investing in an ATM machine make before purchasing one?

    They should read everything they can about the business. A couple of links to some of the papers I’ve authored:

    Of course, I recommend my book, The Amazing Money Machine, where I explain the entire business from start to finish. ATMdepot.com also offers serious investors a private members’ area where they can get proprietary information, forms and videos that are reserved for our IADs.

    Get a handle on your cash with Mint.com .

    What are the disadvantages and/or risks associated with these machines?

    As with any business, the biggest risk is loss of capital; however, with the ATM business that risk is minimized since the biggest investment is the ATM hardware, which is an asset that can always be moved to a new location.

    Another risk is vandalism and/or theft, but inexpensive insurance is available; and in my 20+ years in the business we’ve experienced very few of those issues (but they can occur).

    Machines do need to be serviced and cleaned regularly to make sure they remain in the best working order. While not usually an issue, there can be cash jams, printer jams, communication problems or electrical surges that can bring the ATM offline (a good surge protector is key).

    ATMDepot.com offers toll free 24/7 tech support and most issues can be resolved over the phone, but if an ATM investor owner-operator needs more help, a field service call can be arranged quickly.

    Where are the best locations for ATM machines?

    This is a big question and also varies by geography.

    While everyone knows that convenience stores, casinos, supermarkets and adult retailers are great locations, they are difficult to obtain.

    The best locations are high traffic places where people need cash, like stores that don’t accept credit cards or where a bank might be several blocks away.

    My book has an entire in-depth chapter dedicated to this topic. A good ATM company can help their IADs evaluate locations using a variety of tools including Google Maps (satellite view) to help access the area, Zillow or SearchBug Tools to hone in on certain neighborhoods and geographic characteristics to further evaluate the potential of a location.

    Where do we go to purchase an ATM machine?

    ATMs can be purchased from several different ATM companies; it’s important to compare features and models carefully. New laws and compliance requirements are forcing existing ATM operators to upgrade machines, and some non-compliant machines that should be recycled are showing up for sale on websites. Some machines are non-ADA compliant, some ATMs have old software and hardware that cannot be upgraded; so it’s important to purchase ATM machines from reputable firms with the most updated information on what ATM models are outdated.

    I wrote an eBay guide about the five questions to ask before buying an ATM since I saw so many scams on eBay for used machines.

    How are the machines stocked? Who handles stocking them?

    There are several ways to load an ATM. It’s as easy as loading a napkin holder.

    The person loading the ATM is called the vaulter. Vaulters could be the ATM owner, a professional independent cash vaulter, an armored car service, or a trusted third party. The important thing to remember is that if the vaulter is not consistent and lets the machine run out of cash, then the ATM owner and the store lose money and customers get upset. So vaulting is a very important component of the business.

    The most costly vaulter is an armored car and a cash management service, but it’s also the most reliable. So for a very busy machine, this can be beneficial; but the ATM also requires a significant lock upgrade for armored car auditing.

    The additional lock can increase the cost of the ATM by $600 to $650, which can be significant on a $2,500 machine. The least expensive solution is to have the location be the vaulter and share the revenue or pay a set per transaction fee.

    What types of machine models are available?

    We currently like the Hyosung and Genmega ATMs as they are fairly priced and very reliable. There are many different models, many of which suited to different applications. It’s best to work with someone from our office once a location is selected.

    Recommendations can then be made based on available space, traffic estimates, cash needs, visibility, and indoor/outdoor or freestanding/through-the-wall models.

    There are many questions that should be asked and answered before a specific machine is ordered by an investor. Preservation of capital, ROI, and profit potential should all be considered.





    Expert Interview with Noah Wieder on the benefits of owning an ATM

    #atm business

    #

    Expert Interview with Noah Wieder on the benefits of owning an ATM

    Cash is still king in plenty of places, which is why ATMs are more popular than ever, says Noah C. Wieder, CEO of ATM Depot .

    ATM users prefer to pay with cash to avoid credit card debt and interest charges, and merchants also prefer cash users; so having an ATM nearby helps them lower their credit card processing fees.

    “So it’s a win-win for merchants who either own and operate their own ATM or who contract with an IAD to operate one for them,” he adds.

    Noah recently checked in to tell us about the benefits of investing in an ATM machine and give us a crash course on becoming an independent ATM deployer. Here’s what he had to say:

    Tell us the story behind ATM Depot. What’s on your site? Who should be reading it?

    ATM Depot caters to individuals, investors, entrepreneurs and independent ATM deployers (IAD’s) looking for a flexible, friendly, experienced and honest ATM company. We believe in transparency in an industry where we see a lot of secrets and scams .

    Who can invest in an ATM machine?

    Literally, anyone can invest in an ATM. Retailers; commercial landlords; city governments looking to increase revenues at parks, museums and other public places; entrepreneurs; and anyone who can count money.

    The cost to enter the ATM business is amazingly low. Many ATM models can be purchased for under $2,500 including shipping. The cost of not working with an experienced ATM company is the expensive part. The cost of learning from mistakes can get expensive.

    A better question is who can operate an ATM. Most investors and entrepreneurs can invest or operate an ATM business unless they have a felony criminal record or have been involved in any type of financial crime.

    What are the benefits of investing in and managing ATM machines?

    It’s very similar to most passive income business models. Benefits include:

    • Working your own hours
    • Excellent annual returns (even on locations that only have three or four users per day)
    • Minimal investment, relatively low risk
    • Getting to meet and work with great people
    • No more trading time for money
    • Great ROI

    What considerations should someone who’s interested in investing in an ATM machine make before purchasing one?

    They should read everything they can about the business. A couple of links to some of the papers I’ve authored:

    Of course, I recommend my book, The Amazing Money Machine, where I explain the entire business from start to finish. ATMdepot.com also offers serious investors a private members’ area where they can get proprietary information, forms and videos that are reserved for our IADs.

    Get a handle on your cash with Mint.com .

    What are the disadvantages and/or risks associated with these machines?

    As with any business, the biggest risk is loss of capital; however, with the ATM business that risk is minimized since the biggest investment is the ATM hardware, which is an asset that can always be moved to a new location.

    Another risk is vandalism and/or theft, but inexpensive insurance is available; and in my 20+ years in the business we’ve experienced very few of those issues (but they can occur).

    Machines do need to be serviced and cleaned regularly to make sure they remain in the best working order. While not usually an issue, there can be cash jams, printer jams, communication problems or electrical surges that can bring the ATM offline (a good surge protector is key).

    ATMDepot.com offers toll free 24/7 tech support and most issues can be resolved over the phone, but if an ATM investor owner-operator needs more help, a field service call can be arranged quickly.

    Where are the best locations for ATM machines?

    This is a big question and also varies by geography.

    While everyone knows that convenience stores, casinos, supermarkets and adult retailers are great locations, they are difficult to obtain.

    The best locations are high traffic places where people need cash, like stores that don’t accept credit cards or where a bank might be several blocks away.

    My book has an entire in-depth chapter dedicated to this topic. A good ATM company can help their IADs evaluate locations using a variety of tools including Google Maps (satellite view) to help access the area, Zillow or SearchBug Tools to hone in on certain neighborhoods and geographic characteristics to further evaluate the potential of a location.

    Where do we go to purchase an ATM machine?

    ATMs can be purchased from several different ATM companies; it’s important to compare features and models carefully. New laws and compliance requirements are forcing existing ATM operators to upgrade machines, and some non-compliant machines that should be recycled are showing up for sale on websites. Some machines are non-ADA compliant, some ATMs have old software and hardware that cannot be upgraded; so it’s important to purchase ATM machines from reputable firms with the most updated information on what ATM models are outdated.

    I wrote an eBay guide about the five questions to ask before buying an ATM since I saw so many scams on eBay for used machines.

    How are the machines stocked? Who handles stocking them?

    There are several ways to load an ATM. It’s as easy as loading a napkin holder.

    The person loading the ATM is called the vaulter. Vaulters could be the ATM owner, a professional independent cash vaulter, an armored car service, or a trusted third party. The important thing to remember is that if the vaulter is not consistent and lets the machine run out of cash, then the ATM owner and the store lose money and customers get upset. So vaulting is a very important component of the business.

    The most costly vaulter is an armored car and a cash management service, but it’s also the most reliable. So for a very busy machine, this can be beneficial; but the ATM also requires a significant lock upgrade for armored car auditing.

    The additional lock can increase the cost of the ATM by $600 to $650, which can be significant on a $2,500 machine. The least expensive solution is to have the location be the vaulter and share the revenue or pay a set per transaction fee.

    What types of machine models are available?

    We currently like the Hyosung and Genmega ATMs as they are fairly priced and very reliable. There are many different models, many of which suited to different applications. It’s best to work with someone from our office once a location is selected.

    Recommendations can then be made based on available space, traffic estimates, cash needs, visibility, and indoor/outdoor or freestanding/through-the-wall models.

    There are many questions that should be asked and answered before a specific machine is ordered by an investor. Preservation of capital, ROI, and profit potential should all be considered.





    The Hidden Benefits Of Owning Your Own Business #business #partners

    #owning your own business

    #

    Primary Menu

    The Hidden Benefits Of Owning Your Own Business

    Steve C Click here to learn how to start your own online store

    Most people start their own business hoping to find the answers to a few key questions. How can I be my own boss and make money doing things that I enjoy? How can I be in control of my own destiny? How can I become wealthy and rich?

    Don t get me wrong, these are all very important criteria when deciding to start any business. But with these goals in mind, many first time entrepreneurs don t fully appreciate the hidden benefits of starting their own venture. The emphasis is often placed on the results and not on the journey.

    Photo By Southgeist

    After all, what could possibly be more important than making money and being your own boss? The hidden benefits that I m talking about are not related to the outcome per se, but the experiences and valuable skills that are developed in the process of running any business venture. What are some of these hidden benefits?

    You Will Gain People Skills

    I can t think of any successful business that does not require you to deal with people. If you have poor people skills, then your business will force you to develop some.

    If you are shy, your business will force you to break out of your shell. One of the beauties of taking full responsibility and accountability of your business is that it forces you do whatever it takes to be successful, even if it extends beyond your comfort zone.

    I thought that I had decent people skills until I started dealing with customers. After getting yelled at a few times, I quickly realized that customer service requires a completely different skill set in itself.

    Interacting with customers successfully involves carefully extracting needs vs wants and establishing business boundaries without insulting anyone in the process. It involves building trust and getting along with different personalities and tendencies.

    The same skills apply when establishing partnerships with other businesses as well. Knowing how to act and what questions to ask are crucial components in defining mutual goals for you and your partner companies.

    Many would be entrepreneurs fear the people aspects of business because they just don t want to deal with the drama of conflicting personalities. But interacting with people is a fact of life. You will gain people skills whether you fail or succeed, skills that are a huge asset that will apply to practically everything you will ever do.

    You Will Meet New People

    One of my favorite benefits of going into business is the relationships and friendships that you will develop. Sure, you will meet your fair share of unscrupulous and dishonest people, but you ll find that most people are worth getting to know.

    My blog is the perfect example. In the short time that I ve written this blog, I ve already met a wide variety of friends and acquaintances that I will definitely try to keep in touch with. These people are all over the map. Some of them live in the far reaches of the world. Some of them are television stars and some of them can even perform Akashic readings.

    Meeting and interacting with new people is especially satisfying because it forces you to keep an open mind. In the course of running our linens business, several of our customers have enlightened us to new ways of using our products, some of which are now proudly displayed in the art and crafts portion of our online store.

    Several customers have also suggested new products for us to carry that have provided large boosts to our overall sales.

    Fellow blogger friends of mine have taught me innovative methods of building an audience and new ways to structure and code different parts of my website. Others have provided me with mental support and motivation to continue on with my writing. It s literally impossible to list all of the benefits that I ve gained from meeting new people on the job .

    The main thing I ve learned is to never underestimate the value of a strong network of friends. Especially in the unlikeliest of situations, you d be surprised at how often a seemingly random friend can be of assistance.

    Here s a good example. My wife and I have been searching for new linen vendors for quite sometime now without much success. Just the other day, I was chatting with one of my friends who I just met online.

    In the course of our conversation, I discovered that she had a good friend who used to run a linens business! She hooked us up and all of a sudden we found a new resource with a rolodex of vendors that we could contact. I love it when random circumstances turn up like this!

    You Will Travel To New Places

    Part of running our business requires us to travel to various places to visit our vendors. Some of our vendors are in different parts of the United States and some are in different parts of Asia. Once a year, we get to travel to these places tax free .

    Last year, we visited Japan and Hong Kong and made a vacation out of it. In these harsh economic times, it might be hard to justify an overseas vacation, but our business provided us with the perfect excuse.

    Saving 30% on travel and accommodations and 15% on food costs made everything more manageable from a financial standpoint and we knew that these meetings would eventually benefit our top line.

    You Will Develop Your Public Speaking Skills

    Who hasn t been afraid of public speaking at some point in their life? Owning your own business is the perfect way to overcome your fear of addressing crowds. Whether you are pitching your idea to someone or selling a product or idea, you will be required to address groups of people whether you feel comfortable or not.

    You might suck at it at first, but over time you will gain the confidence to speak with ease in front of total strangers. I can t stress how valuable a skill this is. Running a business is all of about selling yourself and extending confidence to your customers. Powerful speaking skills can provide you with an enormous advantage when making a first impression.

    I used to hate speaking to groups of people, but I actually really enjoy it now. I love the feeling of adrenaline coursing through my veins when all eyes are on me. I love the fact that I have a captive audience that is paying attention to whatever I have to say.

    It s Not All About The Money

    If you are a hesitant entrepreneur thinking about starting your own business, you need to take more than just the numbers into account. Once you factor in the intangibles, you ll soon realize that the personal development aspects of entrepreneurship are priceless. Really, it s a no brainer. But in order to believe it, you have to take the plunge yourself.

    Ready To Get Serious About Starting An Online Business?

    If you are really considering starting your own online business, then you have to check out my free mini course on How To Create A Niche Online Store In 5 Easy Steps .

    In this 6 day mini course, I reveal the steps that my wife and I took to earn 100 thousand dollars in the span of just a year. Best of all, it’s absolutely free!

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    Owning Your Own Business Advantages and Disadvantages #sba #loan #requirements

    #owning your own business

    #

    Owning Your Own Business Advantages and Disadvantages

    Making the decision to open and run you re very own business is a huge one, for sure. It s often an extremely exciting time in a person s life and has the prospect of putting them on the pathway for an entirely different lifestyle and success. However, as we all know in today s unsure economy, running a business is also one of the biggest gambles that you could possibly take. Truly understanding the benefits that come to you from owning a business as well as the challenges and obstacles that you may face is the best way to determine if it is the right choice for you.

    The Advantages of Owning Your Own Business

    1. You re The Boss
    One of the biggest advantages, by far, is the simple fact that you are in charge. You have the amazing ability to make every single decision when it comes to your business. This means how long you want to work, when you want to go home, the changes that need to be made, and anything else you could possibly think of.

    2. Making Money For You
    When you are an employee, your job is to make money for someone else, which is far less rewarding than making that money for yourself. By owning your own business, every dime that you make is yours. This has the potential to make you very successful if your business is ran well and becomes highly profitable.

    3. Job Security
    Many people worry every day about whether or not they will be fired, but this worry is completely eradicated if you are the business owner. There is no one above you, and because of that you are completely secure in your job and place at your business. No one can fire you, which is a major advantage.

    4. It s Your Passion
    People that want to start their very own business want to do it because it is something that they are passionate about. By opening up shop and providing your product or service to other people, you are successfully fulfilling your passion, which gives you major mental rewards as a person. This also makes it so that you are happy going to work every day to improve upon your company.

    5. Invaluable Experience
    When you work for someone else, you only get to experience one side of the business, the side that you are working with. Owning your own allows you to gain first hand experience in every aspect that is involved in running a business, which is a great way to gain experience for the future.

    The Disadvantages of Owning Your Own Business

    1. It s A Risk
    One thing that draws many people away from starting their own business is the simple fact that it is extremely risky. You have to put down your own money, and if the business fails, it all falls on you. Many people lose everything because of starting a business that doesn t flourish or succeed.

    2. Investments
    Before a business can begin making money you must invest in many things. This includes the space you need to operate, the products, employees, marketing, and licenses that you are required to have. The costs can add up very quickly. It is difficult to take on these financial burdens when you are not already making money off of them.

    3. It s Inconsistent
    There is no way to predict how well a business will do, which is a scary thought. Your income is completely dependent on the business, so if you have a bad month or two, big problems can arise.

    4. It More Than Full Time
    Unlike working for a company, running your own business has no set hours that you have to work. You simply have to do what you have to do to get your business going and profitable. This could mean extremely long hours performing unpleasant tasks and handling the smallest of details that pertain to your business.

    Important Facts About Owning Your Own Business

  • Some of the biggest companies in the world, had to start somewhere. Microsoft was developed in someone s garage before it became the major success that it is today.
  • A small business is defined as a company that has less than 500 employees.
  • Over 50 percent of the working people in the United States work for small businesses.
  • Over half a million new businesses are started and registered each and every month.




  • Expert Interview with Noah Wieder on the benefits of owning an ATM

    #atm business

    #

    Expert Interview with Noah Wieder on the benefits of owning an ATM

    Cash is still king in plenty of places, which is why ATMs are more popular than ever, says Noah C. Wieder, CEO of ATM Depot .

    ATM users prefer to pay with cash to avoid credit card debt and interest charges, and merchants also prefer cash users; so having an ATM nearby helps them lower their credit card processing fees.

    “So it’s a win-win for merchants who either own and operate their own ATM or who contract with an IAD to operate one for them,” he adds.

    Noah recently checked in to tell us about the benefits of investing in an ATM machine and give us a crash course on becoming an independent ATM deployer. Here’s what he had to say:

    Tell us the story behind ATM Depot. What’s on your site? Who should be reading it?

    ATM Depot caters to individuals, investors, entrepreneurs and independent ATM deployers (IAD’s) looking for a flexible, friendly, experienced and honest ATM company. We believe in transparency in an industry where we see a lot of secrets and scams .

    Who can invest in an ATM machine?

    Literally, anyone can invest in an ATM. Retailers; commercial landlords; city governments looking to increase revenues at parks, museums and other public places; entrepreneurs; and anyone who can count money.

    The cost to enter the ATM business is amazingly low. Many ATM models can be purchased for under $2,500 including shipping. The cost of not working with an experienced ATM company is the expensive part. The cost of learning from mistakes can get expensive.

    A better question is who can operate an ATM. Most investors and entrepreneurs can invest or operate an ATM business unless they have a felony criminal record or have been involved in any type of financial crime.

    What are the benefits of investing in and managing ATM machines?

    It’s very similar to most passive income business models. Benefits include:

    • Working your own hours
    • Excellent annual returns (even on locations that only have three or four users per day)
    • Minimal investment, relatively low risk
    • Getting to meet and work with great people
    • No more trading time for money
    • Great ROI

    What considerations should someone who’s interested in investing in an ATM machine make before purchasing one?

    They should read everything they can about the business. A couple of links to some of the papers I’ve authored:

    Of course, I recommend my book, The Amazing Money Machine, where I explain the entire business from start to finish. ATMdepot.com also offers serious investors a private members’ area where they can get proprietary information, forms and videos that are reserved for our IADs.

    Get a handle on your cash with Mint.com .

    What are the disadvantages and/or risks associated with these machines?

    As with any business, the biggest risk is loss of capital; however, with the ATM business that risk is minimized since the biggest investment is the ATM hardware, which is an asset that can always be moved to a new location.

    Another risk is vandalism and/or theft, but inexpensive insurance is available; and in my 20+ years in the business we’ve experienced very few of those issues (but they can occur).

    Machines do need to be serviced and cleaned regularly to make sure they remain in the best working order. While not usually an issue, there can be cash jams, printer jams, communication problems or electrical surges that can bring the ATM offline (a good surge protector is key).

    ATMDepot.com offers toll free 24/7 tech support and most issues can be resolved over the phone, but if an ATM investor owner-operator needs more help, a field service call can be arranged quickly.

    Where are the best locations for ATM machines?

    This is a big question and also varies by geography.

    While everyone knows that convenience stores, casinos, supermarkets and adult retailers are great locations, they are difficult to obtain.

    The best locations are high traffic places where people need cash, like stores that don’t accept credit cards or where a bank might be several blocks away.

    My book has an entire in-depth chapter dedicated to this topic. A good ATM company can help their IADs evaluate locations using a variety of tools including Google Maps (satellite view) to help access the area, Zillow or SearchBug Tools to hone in on certain neighborhoods and geographic characteristics to further evaluate the potential of a location.

    Where do we go to purchase an ATM machine?

    ATMs can be purchased from several different ATM companies; it’s important to compare features and models carefully. New laws and compliance requirements are forcing existing ATM operators to upgrade machines, and some non-compliant machines that should be recycled are showing up for sale on websites. Some machines are non-ADA compliant, some ATMs have old software and hardware that cannot be upgraded; so it’s important to purchase ATM machines from reputable firms with the most updated information on what ATM models are outdated.

    I wrote an eBay guide about the five questions to ask before buying an ATM since I saw so many scams on eBay for used machines.

    How are the machines stocked? Who handles stocking them?

    There are several ways to load an ATM. It’s as easy as loading a napkin holder.

    The person loading the ATM is called the vaulter. Vaulters could be the ATM owner, a professional independent cash vaulter, an armored car service, or a trusted third party. The important thing to remember is that if the vaulter is not consistent and lets the machine run out of cash, then the ATM owner and the store lose money and customers get upset. So vaulting is a very important component of the business.

    The most costly vaulter is an armored car and a cash management service, but it’s also the most reliable. So for a very busy machine, this can be beneficial; but the ATM also requires a significant lock upgrade for armored car auditing.

    The additional lock can increase the cost of the ATM by $600 to $650, which can be significant on a $2,500 machine. The least expensive solution is to have the location be the vaulter and share the revenue or pay a set per transaction fee.

    What types of machine models are available?

    We currently like the Hyosung and Genmega ATMs as they are fairly priced and very reliable. There are many different models, many of which suited to different applications. It’s best to work with someone from our office once a location is selected.

    Recommendations can then be made based on available space, traffic estimates, cash needs, visibility, and indoor/outdoor or freestanding/through-the-wall models.

    There are many questions that should be asked and answered before a specific machine is ordered by an investor. Preservation of capital, ROI, and profit potential should all be considered.





    OHosti – Best Free Unlimited Hosting cPanel – Powerful Unlimited Free Reseller


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    Free Unlimited Hosting cPanel

    Free Unlimited WHM Reseller Hosting

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    Free VPS Hosting (90 Days)!

    OHosti Powerful Features!

    Free Unlimited Web Hosting Features :

    Flexible, Easy to Use Control Panel . Unlimited Bandwidth. Unlimited Sub Domains, FTP Accounts, and Email Accounts. 99.9% Uptime Guarantee Build your website using the latest languages including PHP, Ruby, PERL, Python, PostgreSQL, MySQL and more. We also provide SSH access on all Business Hosting plans and have enabled WP-CLI for easy WordPress management.

    Why is Our Free VPS Hosting different than Shared and Dedicated?

    With our OHosti VPS, you get an entire server. This is optimal for people that have very high traffic to their websites or need to setup their server in a very specific way. Not everyone needs to have a fully dedicated web server however. If you’re just getting started with your website, you can save quite a bit of money if you get a free small portion of the server. Shared hosting is when you share a portion of the server with other users rather than rent an entire server to yourself. If you are considering a dedicated server and are unsure if it is right for you, perhaps you will need to get Free VPS Hosting.

    What is our free reseller hosting included?

    Everything you need to get started is included in our Reseller packages for a single, no price (free) :

    Free cPanel:
    Unlike other hosting companies, we never charge you or your clients a fee to manage the content and setup of their websites. cPanel makes that easy.

    Free Domains Resales:
    Not only can you sell web hosting, our Reseller Program also gives you the ability to sell domain names.

    IMAP, POP, SMTP Email:
    We offer a variety of email protocols, meaning your clients can check emails anywhere, on any device, easily.

    Free Backups and Installers:
    We include the Softaculous auto-installer totally Free, so you and your clients can set up websites at the click of a button, and we back your sites up every 24-36 hours, automatically.

    Frequently Asked Questions?

    Why is it all free on OHosti? How do you earn?

    We’ve been providing leading free cPanel hosting services with No Ads. All this is made possible by our Paid Dedicated Servers services, including upgrades for those who need more room for growth, as well as donations from our community of users.

    How long will your hosting be free?

    Forever! We have provided Paid Servers services since 2010 and we have been in free hosting business since 2009.

    What are your guarantees?

    1. Our hosting will always be 100% free!

    2. We own all our servers and locate them in high quality data centers, so no one can shut down or reload any server with your data.

    3. We utilise dedicated connections to ensure we can provide enough bandwidth for all our users.

    Free Domain Name Privacy

    Did you know that whenever a domain name is registered, The Internet Corporation for Assigned Names and Numbers (ICANN) requires your personal information be published in the WHOIS database? This includes your mailing address, phone number and email address!

    With Domain Privacy Protection from OHosti Hosting we will make our information available to the public instead of yours. This can help protect you from potential spammers, telemarketers and even identity thieves. This wouldn’t cost you any thing only $0.00 annually! (Fully Free). Otherwise we would have to use the information we currently have on file for your account.

    Your name will remain as the registrant contact so that you retain complete ownership of the domain.

    You can register a free .com. net. org. tk. ml. ga. cf. gq (including Special Domains).

    Domain Privacy Protection is available with all hosting accounts, including shared hosting, vps hosting, and our dedicated servers.

    Create New Website?

    Build your website in 4 easy steps:

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    Owning Your Own Business Advantages and Disadvantages #find #a #business

    #owning your own business

    #

    Owning Your Own Business Advantages and Disadvantages

    Making the decision to open and run you re very own business is a huge one, for sure. It s often an extremely exciting time in a person s life and has the prospect of putting them on the pathway for an entirely different lifestyle and success. However, as we all know in today s unsure economy, running a business is also one of the biggest gambles that you could possibly take. Truly understanding the benefits that come to you from owning a business as well as the challenges and obstacles that you may face is the best way to determine if it is the right choice for you.

    The Advantages of Owning Your Own Business

    1. You re The Boss
    One of the biggest advantages, by far, is the simple fact that you are in charge. You have the amazing ability to make every single decision when it comes to your business. This means how long you want to work, when you want to go home, the changes that need to be made, and anything else you could possibly think of.

    2. Making Money For You
    When you are an employee, your job is to make money for someone else, which is far less rewarding than making that money for yourself. By owning your own business, every dime that you make is yours. This has the potential to make you very successful if your business is ran well and becomes highly profitable.

    3. Job Security
    Many people worry every day about whether or not they will be fired, but this worry is completely eradicated if you are the business owner. There is no one above you, and because of that you are completely secure in your job and place at your business. No one can fire you, which is a major advantage.

    4. It s Your Passion
    People that want to start their very own business want to do it because it is something that they are passionate about. By opening up shop and providing your product or service to other people, you are successfully fulfilling your passion, which gives you major mental rewards as a person. This also makes it so that you are happy going to work every day to improve upon your company.

    5. Invaluable Experience
    When you work for someone else, you only get to experience one side of the business, the side that you are working with. Owning your own allows you to gain first hand experience in every aspect that is involved in running a business, which is a great way to gain experience for the future.

    The Disadvantages of Owning Your Own Business

    1. It s A Risk
    One thing that draws many people away from starting their own business is the simple fact that it is extremely risky. You have to put down your own money, and if the business fails, it all falls on you. Many people lose everything because of starting a business that doesn t flourish or succeed.

    2. Investments
    Before a business can begin making money you must invest in many things. This includes the space you need to operate, the products, employees, marketing, and licenses that you are required to have. The costs can add up very quickly. It is difficult to take on these financial burdens when you are not already making money off of them.

    3. It s Inconsistent
    There is no way to predict how well a business will do, which is a scary thought. Your income is completely dependent on the business, so if you have a bad month or two, big problems can arise.

    4. It More Than Full Time
    Unlike working for a company, running your own business has no set hours that you have to work. You simply have to do what you have to do to get your business going and profitable. This could mean extremely long hours performing unpleasant tasks and handling the smallest of details that pertain to your business.

    Important Facts About Owning Your Own Business

  • Some of the biggest companies in the world, had to start somewhere. Microsoft was developed in someone s garage before it became the major success that it is today.
  • A small business is defined as a company that has less than 500 employees.
  • Over 50 percent of the working people in the United States work for small businesses.
  • Over half a million new businesses are started and registered each and every month.




  • OHosti – Best Free Unlimited Hosting cPanel – Powerful Unlimited Free Reseller


    #

    Free Unlimited Hosting cPanel

    Free Unlimited WHM Reseller Hosting

    Free Domain Name !

    Free VPS Hosting (90 Days)!

    OHosti Powerful Features!

    Free Unlimited Web Hosting Features :

    Flexible, Easy to Use Control Panel . Unlimited Bandwidth. Unlimited Sub Domains, FTP Accounts, and Email Accounts. 99.9% Uptime Guarantee Build your website using the latest languages including PHP, Ruby, PERL, Python, PostgreSQL, MySQL and more. We also provide SSH access on all Business Hosting plans and have enabled WP-CLI for easy WordPress management.

    Why is Our Free VPS Hosting different than Shared and Dedicated?

    With our OHosti VPS, you get an entire server. This is optimal for people that have very high traffic to their websites or need to setup their server in a very specific way. Not everyone needs to have a fully dedicated web server however. If you’re just getting started with your website, you can save quite a bit of money if you get a free small portion of the server. Shared hosting is when you share a portion of the server with other users rather than rent an entire server to yourself. If you are considering a dedicated server and are unsure if it is right for you, perhaps you will need to get Free VPS Hosting.

    What is our free reseller hosting included?

    Everything you need to get started is included in our Reseller packages for a single, no price (free) :

    Free cPanel:
    Unlike other hosting companies, we never charge you or your clients a fee to manage the content and setup of their websites. cPanel makes that easy.

    Free Domains Resales:
    Not only can you sell web hosting, our Reseller Program also gives you the ability to sell domain names.

    IMAP, POP, SMTP Email:
    We offer a variety of email protocols, meaning your clients can check emails anywhere, on any device, easily.

    Free Backups and Installers:
    We include the Softaculous auto-installer totally Free, so you and your clients can set up websites at the click of a button, and we back your sites up every 24-36 hours, automatically.

    Frequently Asked Questions?

    Why is it all free on OHosti? How do you earn?

    We’ve been providing leading free cPanel hosting services with No Ads. All this is made possible by our Paid Dedicated Servers services, including upgrades for those who need more room for growth, as well as donations from our community of users.

    How long will your hosting be free?

    Forever! We have provided Paid Servers services since 2010 and we have been in free hosting business since 2009.

    What are your guarantees?

    1. Our hosting will always be 100% free!

    2. We own all our servers and locate them in high quality data centers, so no one can shut down or reload any server with your data.

    3. We utilise dedicated connections to ensure we can provide enough bandwidth for all our users.

    Free Domain Name Privacy

    Did you know that whenever a domain name is registered, The Internet Corporation for Assigned Names and Numbers (ICANN) requires your personal information be published in the WHOIS database? This includes your mailing address, phone number and email address!

    With Domain Privacy Protection from OHosti Hosting we will make our information available to the public instead of yours. This can help protect you from potential spammers, telemarketers and even identity thieves. This wouldn’t cost you any thing only $0.00 annually! (Fully Free). Otherwise we would have to use the information we currently have on file for your account.

    Your name will remain as the registrant contact so that you retain complete ownership of the domain.

    You can register a free .com. net. org. tk. ml. ga. cf. gq (including Special Domains).

    Domain Privacy Protection is available with all hosting accounts, including shared hosting, vps hosting, and our dedicated servers.

    Create New Website?

    Build your website in 4 easy steps:

    • 01 Login to Site Builder
    • 02 Select Web Template
    • 03 Publish to your hosting account
    • 04 Select web template search etc.

    17 Hard Truths About Owning A Business #candle #making #business

    #owning your own business

    #

    17 Hard Truths About Owning A Business

    Columnist, American Express OPEN

    Ever feel stuck? Erika Napoletano gets restless brands and the people brave enough to lead them UNstuck, shortening the distance between where they are and heck yeah. Business columnist, award-winning author, TEDx talker, nerd in a dress.

    The reasons that anyone decides to venture down the path of business ownership vary. Maybe it’s the allure of setting our own hours. The chance to call fuzzy slippers and pajama pants “work clothes.” The opportunity to do business the way it should be done.

    But for all of us, there’s one inarguable reason: the chance to finally put energy into building our dream instead of someone else’s.

    With the decision to launch a business, however, come some pretty startling realities. Maybe some of these will be familiar. Others you might have just stumbled onto for the first time. They’re all, however, hefty reminders that this thing we do—owning and running a small business—is anything but easy.

    It’s worth it—but definitely not easy.

    1.Your target customer isn’t “everyone.” Not even Walmart has something for everyone. And sure—it’s easy to think that your product or service has widespread appeal (who wouldn’t want what you have to offer, right?). Skip the selling and attempts to convert. Find the people who will love what you do (and all the things you don’t do). Preach to the converted and they’ll share your brand with more people just like them.

    2.What you do isn’t special. There are roughly a gazillion other people in this world who do what you do. What you do isn’t the magic. The real magic comes from a combination of why you do it, for whom you do it, and how you do it. What + Who + Why + How = Awesome.

    3. Value lasts. Cheap is fleeting. Let me ask: How many “things” have you replaced since starting your business? Odds are, they’re the things you scrimped on in the name of “now.” Remind yourself of that the next time you’re tempted by a cheap solution and go for value—what’s best, what will last, and what’s best for your business and customers. Cheap and a great value sometimes happens, but it’s rare.

    4. The customer isn’t always right. They’re not. Period. You can’t make a living without your customers, though. So where’s the middle ground when someone is unhappy, but definitely wrong? First, listen. Second, weigh the options—does it make sense to give a bit in exchange for appeasing someone who’s having a bad day? Finally, stick to your principles. Some people will just never be happy and are looking for a reason to complain. If we built our business around the complainers, we’d be broke in no time.

    5. Trade sucks when you don’t treat it like a business transaction. If you remember nothing else from this article, remember to treat every trade agreement like a business transaction. Have a contract. Establish deliverables. Establish a value. Establish a deadline. If you don’t, someone’s always going to come out “feeling slighted.” Just because there’s no money changing hands doesn’t mean business isn’t being done.

    6. Your business bank account isn’t a piggy bank. Get a CPA and a bookkeeper. Everything you buy once you start a business isn’t a business expense (shall we ask the IRS?). The day I was able to look at my business and run a real profit and loss (P L) statement was one of the happiest days of my life. The next happiest moment was knowing that I was actually profitable. You can’t fix your business finances if you don’t know what’s going on behind the banking curtain.

    7. Tech won’t fix a crappy business model. I don’t care how many devices you have or if you’re using Silicon Valley’s latest and greatest app. Tech is a tool, nothing more. Upgrading your computer won’t make your business run better. When something’s not working, ask what’s not working with the business model.

    8. You can’t do everything. You’re awesome. You’re talented. You’re motivated and the reason this whole business thing gets done each day. But you can’t do everything. And like me, I know you’ve tried. We’re small-business owners, a brand of superheroes of our own class. But when you do everything for so long, you’re bound to break.

    9. You’re going to have to learn to outsource. Finding people you trust to help you run your business is paramount. And since you can’t do everything (and certainly don’t enjoy doing everything), find people who are great at and love doing all those things you loathe. We can’t all afford it when first starting out, but remind yourself that there are people to help you lighten the load and run leaner and meaner than you’ve ever run.

    10.You are not the most important asset in your business. Shocking, right? You open the doors and foot the bills, but none of that happens without your customers’ permission. Your customers are, and always will be, the most important asset your business will ever have. Period.

    11. Listening is the best business skill you’ll ever acquire. To your customers. To your employees. To your community and industry colleagues. If we listened half as much as we spoke, blogged, tweeted or Facebooked, I can only imagine where each of our businesses would be. Try counting to five before you chime in the next time someone shares a thought with you. And try listening when no one thinks you’re listening.

    12.Infrastructure—it’s what’s for breakfast. Growth is the goal, right? More revenue, more sales, bigger and better customers. But what happens when the volume we crave comes along and we haven’t built a business that can support it? When making decisions to scale, always ask, “Do we have the infrastructure to support this move, and if not, how can we create it?” Less full speed ahead and more full attention to the most important business meal of the day—it will fuel and support everything you do as the day (and years) go on.

    13.You need a great team. You can’t do everything alone. Find people who are committed to building your dream and vision. Some of your greatest ideas will come from people with the gift of being on the outside of your head looking in. This makes having an amazing, motivated team all the more important.

    14.Don’t hire people you’d never empower. Again, since you can’t do everything, you need people on your team whom you trust to act in the best interests of your business. Hire wisely and invest in training and mentoring. Great employees all start off good, but they’ll need your guidance along the way. Don’t hire anyone whom you don’t feel you could ultimately trust to act in your business’s best interest.

    15.There are no overnight successes. If you hear otherwise, it’s a lie—a damn lie. Success comes from an artful combination of humility, tenacity, failure, and opportunity. None of those things happen overnight—despite what some may say.

    16.Don’t think like a business owner—think like a customer. Not much explanation required here. The greatest successes I’ve seen come from businesses that anticipate customer needs and meet them in delightful and unexpected ways.

    17.You are your most important client every day. You know the story about the cobbler’s children and how they have no shoes? Well, that’s no way to run a business. Set time in your calendar every day to work on your business.You are your first client every day. Put it on a sticky note. Tape it to your bathroom mirror. Say it out loud. Repeat.

    What’s your one hard truth you’ve learned as a business owner? Share with the community in the comments below.

    Photo: Getty Images





    Owning Your Own Business Advantages and Disadvantages #business #lenders

    #owning your own business

    #

    Owning Your Own Business Advantages and Disadvantages

    Making the decision to open and run you re very own business is a huge one, for sure. It s often an extremely exciting time in a person s life and has the prospect of putting them on the pathway for an entirely different lifestyle and success. However, as we all know in today s unsure economy, running a business is also one of the biggest gambles that you could possibly take. Truly understanding the benefits that come to you from owning a business as well as the challenges and obstacles that you may face is the best way to determine if it is the right choice for you.

    The Advantages of Owning Your Own Business

    1. You re The Boss
    One of the biggest advantages, by far, is the simple fact that you are in charge. You have the amazing ability to make every single decision when it comes to your business. This means how long you want to work, when you want to go home, the changes that need to be made, and anything else you could possibly think of.

    2. Making Money For You
    When you are an employee, your job is to make money for someone else, which is far less rewarding than making that money for yourself. By owning your own business, every dime that you make is yours. This has the potential to make you very successful if your business is ran well and becomes highly profitable.

    3. Job Security
    Many people worry every day about whether or not they will be fired, but this worry is completely eradicated if you are the business owner. There is no one above you, and because of that you are completely secure in your job and place at your business. No one can fire you, which is a major advantage.

    4. It s Your Passion
    People that want to start their very own business want to do it because it is something that they are passionate about. By opening up shop and providing your product or service to other people, you are successfully fulfilling your passion, which gives you major mental rewards as a person. This also makes it so that you are happy going to work every day to improve upon your company.

    5. Invaluable Experience
    When you work for someone else, you only get to experience one side of the business, the side that you are working with. Owning your own allows you to gain first hand experience in every aspect that is involved in running a business, which is a great way to gain experience for the future.

    The Disadvantages of Owning Your Own Business

    1. It s A Risk
    One thing that draws many people away from starting their own business is the simple fact that it is extremely risky. You have to put down your own money, and if the business fails, it all falls on you. Many people lose everything because of starting a business that doesn t flourish or succeed.

    2. Investments
    Before a business can begin making money you must invest in many things. This includes the space you need to operate, the products, employees, marketing, and licenses that you are required to have. The costs can add up very quickly. It is difficult to take on these financial burdens when you are not already making money off of them.

    3. It s Inconsistent
    There is no way to predict how well a business will do, which is a scary thought. Your income is completely dependent on the business, so if you have a bad month or two, big problems can arise.

    4. It More Than Full Time
    Unlike working for a company, running your own business has no set hours that you have to work. You simply have to do what you have to do to get your business going and profitable. This could mean extremely long hours performing unpleasant tasks and handling the smallest of details that pertain to your business.

    Important Facts About Owning Your Own Business

  • Some of the biggest companies in the world, had to start somewhere. Microsoft was developed in someone s garage before it became the major success that it is today.
  • A small business is defined as a company that has less than 500 employees.
  • Over 50 percent of the working people in the United States work for small businesses.
  • Over half a million new businesses are started and registered each and every month.




  • The Benefits of Owning Your Own Business #business #presentation

    #owning your own business

    #

    The Benefits of Owning Your Own Business

    There are many benefits to owning your own business:

    • Your years of hard work can result in wealth not unemployment
    • For the self employed, just about everything is a tax write off
    • You will eventually have the ability, money and time to help others
    • You will eventually have more time to spend with your family
    • You will eventually have more self-esteem
    • You will eventually have much more freedom

    Here is my personal perspective. When I look around at the friends and colleagues I have known and worked with, the happiest and most satisfied people are those that own their own businesses. They have the most freedom, and the most control over their lives, even more than most CEO’s I know.

    And that’s because CEO’s can be fired. Even if they are really good. Being in top management does not necessarily give you more control over your future.

    I’m not saying that being an employee is bad, but if you have an opportunity to be self employed you should consider it carefully.

    Yes, I know some CEO’s who are on top of the world, and I am very happy for them, They worked hard and smart. They took very good care of their people. They made some unbelievably brilliant strategic decisions. They made a lot of small decisions that added up to something big. They truly deserve their success.

    On the other hand I know many high level executives, including CEO’s, who are currently unemployed because someone fired them. Whether they deserved it or not, even at a high level, they were not in control of their destiny.

    As an employee you can dedicate many years of your life to a company, only to find yourself out of a job due to situations totally out of your control. Management changes, mergers, acquisitions, downsizing and outsourcing all have a tendency to force sudden and unexpected change.

    On the other hand, if you own your own business, you will still face competition, change, legal battles etc. But in every case you will have time and an opportunity to fight and win. Big difference.

    However, the risks in starting your own business are far greater than if you were an employee who worked for someone else.

    According to Michael Gerber, author of The E-Myth. in the US, there are over 1,000,000 new businesses started every year. 40% of these fail in the first year. Another 40% fail before year five. So the odds are against you.

    There are ways to beat the odds. The success rate for franchises is much higher. Something like 50% or more of the franchises make it past five years.

    The key according to Michael Gerber is that franchises offer you a proven Turn Key business.

    However, franchises are still very risky. We know people who lost a lot of money on franchises and are still not self employed.

    If you are planning your future, and you eventually want to be able to slow down and have some money to retire on, you have three main long term career choices:

    What are your choices for ensuring you can someday retire:

    1. Try your hand at building your own business i.e. being self employed. Build it big enough that it not only pays for your retirement but that you could sell if you wanted.
    2. Be an employee and make sure you earn enough and save enough for when you retire, or when you get laid off or fired. Remember, high level executives are not immune from being fired.
    3. Get a government job, because most government jobs have retirement plans and pensions. Military folks and city employees usually get to retire with a full retirement plan paid for by our tax dollars. I’ve seen some folks who have two retirement plans, one from the military and one from a city, state or federal job.




    Expert Interview with Noah Wieder on the benefits of owning an ATM

    #atm business

    #

    Expert Interview with Noah Wieder on the benefits of owning an ATM

    Cash is still king in plenty of places, which is why ATMs are more popular than ever, says Noah C. Wieder, CEO of ATM Depot .

    ATM users prefer to pay with cash to avoid credit card debt and interest charges, and merchants also prefer cash users; so having an ATM nearby helps them lower their credit card processing fees.

    “So it’s a win-win for merchants who either own and operate their own ATM or who contract with an IAD to operate one for them,” he adds.

    Noah recently checked in to tell us about the benefits of investing in an ATM machine and give us a crash course on becoming an independent ATM deployer. Here’s what he had to say:

    Tell us the story behind ATM Depot. What’s on your site? Who should be reading it?

    ATM Depot caters to individuals, investors, entrepreneurs and independent ATM deployers (IAD’s) looking for a flexible, friendly, experienced and honest ATM company. We believe in transparency in an industry where we see a lot of secrets and scams .

    Who can invest in an ATM machine?

    Literally, anyone can invest in an ATM. Retailers; commercial landlords; city governments looking to increase revenues at parks, museums and other public places; entrepreneurs; and anyone who can count money.

    The cost to enter the ATM business is amazingly low. Many ATM models can be purchased for under $2,500 including shipping. The cost of not working with an experienced ATM company is the expensive part. The cost of learning from mistakes can get expensive.

    A better question is who can operate an ATM. Most investors and entrepreneurs can invest or operate an ATM business unless they have a felony criminal record or have been involved in any type of financial crime.

    What are the benefits of investing in and managing ATM machines?

    It’s very similar to most passive income business models. Benefits include:

    • Working your own hours
    • Excellent annual returns (even on locations that only have three or four users per day)
    • Minimal investment, relatively low risk
    • Getting to meet and work with great people
    • No more trading time for money
    • Great ROI

    What considerations should someone who’s interested in investing in an ATM machine make before purchasing one?

    They should read everything they can about the business. A couple of links to some of the papers I’ve authored:

    Of course, I recommend my book, The Amazing Money Machine, where I explain the entire business from start to finish. ATMdepot.com also offers serious investors a private members’ area where they can get proprietary information, forms and videos that are reserved for our IADs.

    Get a handle on your cash with Mint.com .

    What are the disadvantages and/or risks associated with these machines?

    As with any business, the biggest risk is loss of capital; however, with the ATM business that risk is minimized since the biggest investment is the ATM hardware, which is an asset that can always be moved to a new location.

    Another risk is vandalism and/or theft, but inexpensive insurance is available; and in my 20+ years in the business we’ve experienced very few of those issues (but they can occur).

    Machines do need to be serviced and cleaned regularly to make sure they remain in the best working order. While not usually an issue, there can be cash jams, printer jams, communication problems or electrical surges that can bring the ATM offline (a good surge protector is key).

    ATMDepot.com offers toll free 24/7 tech support and most issues can be resolved over the phone, but if an ATM investor owner-operator needs more help, a field service call can be arranged quickly.

    Where are the best locations for ATM machines?

    This is a big question and also varies by geography.

    While everyone knows that convenience stores, casinos, supermarkets and adult retailers are great locations, they are difficult to obtain.

    The best locations are high traffic places where people need cash, like stores that don’t accept credit cards or where a bank might be several blocks away.

    My book has an entire in-depth chapter dedicated to this topic. A good ATM company can help their IADs evaluate locations using a variety of tools including Google Maps (satellite view) to help access the area, Zillow or SearchBug Tools to hone in on certain neighborhoods and geographic characteristics to further evaluate the potential of a location.

    Where do we go to purchase an ATM machine?

    ATMs can be purchased from several different ATM companies; it’s important to compare features and models carefully. New laws and compliance requirements are forcing existing ATM operators to upgrade machines, and some non-compliant machines that should be recycled are showing up for sale on websites. Some machines are non-ADA compliant, some ATMs have old software and hardware that cannot be upgraded; so it’s important to purchase ATM machines from reputable firms with the most updated information on what ATM models are outdated.

    I wrote an eBay guide about the five questions to ask before buying an ATM since I saw so many scams on eBay for used machines.

    How are the machines stocked? Who handles stocking them?

    There are several ways to load an ATM. It’s as easy as loading a napkin holder.

    The person loading the ATM is called the vaulter. Vaulters could be the ATM owner, a professional independent cash vaulter, an armored car service, or a trusted third party. The important thing to remember is that if the vaulter is not consistent and lets the machine run out of cash, then the ATM owner and the store lose money and customers get upset. So vaulting is a very important component of the business.

    The most costly vaulter is an armored car and a cash management service, but it’s also the most reliable. So for a very busy machine, this can be beneficial; but the ATM also requires a significant lock upgrade for armored car auditing.

    The additional lock can increase the cost of the ATM by $600 to $650, which can be significant on a $2,500 machine. The least expensive solution is to have the location be the vaulter and share the revenue or pay a set per transaction fee.

    What types of machine models are available?

    We currently like the Hyosung and Genmega ATMs as they are fairly priced and very reliable. There are many different models, many of which suited to different applications. It’s best to work with someone from our office once a location is selected.

    Recommendations can then be made based on available space, traffic estimates, cash needs, visibility, and indoor/outdoor or freestanding/through-the-wall models.

    There are many questions that should be asked and answered before a specific machine is ordered by an investor. Preservation of capital, ROI, and profit potential should all be considered.





    The Benefits of Owning Your Own Business #great #business #ideas

    #owning your own business

    #

    The Benefits of Owning Your Own Business

    There are many benefits to owning your own business:

    • Your years of hard work can result in wealth not unemployment
    • For the self employed, just about everything is a tax write off
    • You will eventually have the ability, money and time to help others
    • You will eventually have more time to spend with your family
    • You will eventually have more self-esteem
    • You will eventually have much more freedom

    Here is my personal perspective. When I look around at the friends and colleagues I have known and worked with, the happiest and most satisfied people are those that own their own businesses. They have the most freedom, and the most control over their lives, even more than most CEO’s I know.

    And that’s because CEO’s can be fired. Even if they are really good. Being in top management does not necessarily give you more control over your future.

    I’m not saying that being an employee is bad, but if you have an opportunity to be self employed you should consider it carefully.

    Yes, I know some CEO’s who are on top of the world, and I am very happy for them, They worked hard and smart. They took very good care of their people. They made some unbelievably brilliant strategic decisions. They made a lot of small decisions that added up to something big. They truly deserve their success.

    On the other hand I know many high level executives, including CEO’s, who are currently unemployed because someone fired them. Whether they deserved it or not, even at a high level, they were not in control of their destiny.

    As an employee you can dedicate many years of your life to a company, only to find yourself out of a job due to situations totally out of your control. Management changes, mergers, acquisitions, downsizing and outsourcing all have a tendency to force sudden and unexpected change.

    On the other hand, if you own your own business, you will still face competition, change, legal battles etc. But in every case you will have time and an opportunity to fight and win. Big difference.

    However, the risks in starting your own business are far greater than if you were an employee who worked for someone else.

    According to Michael Gerber, author of The E-Myth. in the US, there are over 1,000,000 new businesses started every year. 40% of these fail in the first year. Another 40% fail before year five. So the odds are against you.

    There are ways to beat the odds. The success rate for franchises is much higher. Something like 50% or more of the franchises make it past five years.

    The key according to Michael Gerber is that franchises offer you a proven Turn Key business.

    However, franchises are still very risky. We know people who lost a lot of money on franchises and are still not self employed.

    If you are planning your future, and you eventually want to be able to slow down and have some money to retire on, you have three main long term career choices:

    What are your choices for ensuring you can someday retire:

    1. Try your hand at building your own business i.e. being self employed. Build it big enough that it not only pays for your retirement but that you could sell if you wanted.
    2. Be an employee and make sure you earn enough and save enough for when you retire, or when you get laid off or fired. Remember, high level executives are not immune from being fired.
    3. Get a government job, because most government jobs have retirement plans and pensions. Military folks and city employees usually get to retire with a full retirement plan paid for by our tax dollars. I’ve seen some folks who have two retirement plans, one from the military and one from a city, state or federal job.




    Expert Interview with Noah Wieder on the benefits of owning an ATM

    #atm business

    #

    Expert Interview with Noah Wieder on the benefits of owning an ATM

    Cash is still king in plenty of places, which is why ATMs are more popular than ever, says Noah C. Wieder, CEO of ATM Depot .

    ATM users prefer to pay with cash to avoid credit card debt and interest charges, and merchants also prefer cash users; so having an ATM nearby helps them lower their credit card processing fees.

    “So it’s a win-win for merchants who either own and operate their own ATM or who contract with an IAD to operate one for them,” he adds.

    Noah recently checked in to tell us about the benefits of investing in an ATM machine and give us a crash course on becoming an independent ATM deployer. Here’s what he had to say:

    Tell us the story behind ATM Depot. What’s on your site? Who should be reading it?

    ATM Depot caters to individuals, investors, entrepreneurs and independent ATM deployers (IAD’s) looking for a flexible, friendly, experienced and honest ATM company. We believe in transparency in an industry where we see a lot of secrets and scams .

    Who can invest in an ATM machine?

    Literally, anyone can invest in an ATM. Retailers; commercial landlords; city governments looking to increase revenues at parks, museums and other public places; entrepreneurs; and anyone who can count money.

    The cost to enter the ATM business is amazingly low. Many ATM models can be purchased for under $2,500 including shipping. The cost of not working with an experienced ATM company is the expensive part. The cost of learning from mistakes can get expensive.

    A better question is who can operate an ATM. Most investors and entrepreneurs can invest or operate an ATM business unless they have a felony criminal record or have been involved in any type of financial crime.

    What are the benefits of investing in and managing ATM machines?

    It’s very similar to most passive income business models. Benefits include:

    • Working your own hours
    • Excellent annual returns (even on locations that only have three or four users per day)
    • Minimal investment, relatively low risk
    • Getting to meet and work with great people
    • No more trading time for money
    • Great ROI

    What considerations should someone who’s interested in investing in an ATM machine make before purchasing one?

    They should read everything they can about the business. A couple of links to some of the papers I’ve authored:

    Of course, I recommend my book, The Amazing Money Machine, where I explain the entire business from start to finish. ATMdepot.com also offers serious investors a private members’ area where they can get proprietary information, forms and videos that are reserved for our IADs.

    Get a handle on your cash with Mint.com .

    What are the disadvantages and/or risks associated with these machines?

    As with any business, the biggest risk is loss of capital; however, with the ATM business that risk is minimized since the biggest investment is the ATM hardware, which is an asset that can always be moved to a new location.

    Another risk is vandalism and/or theft, but inexpensive insurance is available; and in my 20+ years in the business we’ve experienced very few of those issues (but they can occur).

    Machines do need to be serviced and cleaned regularly to make sure they remain in the best working order. While not usually an issue, there can be cash jams, printer jams, communication problems or electrical surges that can bring the ATM offline (a good surge protector is key).

    ATMDepot.com offers toll free 24/7 tech support and most issues can be resolved over the phone, but if an ATM investor owner-operator needs more help, a field service call can be arranged quickly.

    Where are the best locations for ATM machines?

    This is a big question and also varies by geography.

    While everyone knows that convenience stores, casinos, supermarkets and adult retailers are great locations, they are difficult to obtain.

    The best locations are high traffic places where people need cash, like stores that don’t accept credit cards or where a bank might be several blocks away.

    My book has an entire in-depth chapter dedicated to this topic. A good ATM company can help their IADs evaluate locations using a variety of tools including Google Maps (satellite view) to help access the area, Zillow or SearchBug Tools to hone in on certain neighborhoods and geographic characteristics to further evaluate the potential of a location.

    Where do we go to purchase an ATM machine?

    ATMs can be purchased from several different ATM companies; it’s important to compare features and models carefully. New laws and compliance requirements are forcing existing ATM operators to upgrade machines, and some non-compliant machines that should be recycled are showing up for sale on websites. Some machines are non-ADA compliant, some ATMs have old software and hardware that cannot be upgraded; so it’s important to purchase ATM machines from reputable firms with the most updated information on what ATM models are outdated.

    I wrote an eBay guide about the five questions to ask before buying an ATM since I saw so many scams on eBay for used machines.

    How are the machines stocked? Who handles stocking them?

    There are several ways to load an ATM. It’s as easy as loading a napkin holder.

    The person loading the ATM is called the vaulter. Vaulters could be the ATM owner, a professional independent cash vaulter, an armored car service, or a trusted third party. The important thing to remember is that if the vaulter is not consistent and lets the machine run out of cash, then the ATM owner and the store lose money and customers get upset. So vaulting is a very important component of the business.

    The most costly vaulter is an armored car and a cash management service, but it’s also the most reliable. So for a very busy machine, this can be beneficial; but the ATM also requires a significant lock upgrade for armored car auditing.

    The additional lock can increase the cost of the ATM by $600 to $650, which can be significant on a $2,500 machine. The least expensive solution is to have the location be the vaulter and share the revenue or pay a set per transaction fee.

    What types of machine models are available?

    We currently like the Hyosung and Genmega ATMs as they are fairly priced and very reliable. There are many different models, many of which suited to different applications. It’s best to work with someone from our office once a location is selected.

    Recommendations can then be made based on available space, traffic estimates, cash needs, visibility, and indoor/outdoor or freestanding/through-the-wall models.

    There are many questions that should be asked and answered before a specific machine is ordered by an investor. Preservation of capital, ROI, and profit potential should all be considered.





    The Benefits of Owning Your Own Business #ideas #for #new #business

    #owning your own business

    #

    The Benefits of Owning Your Own Business

    There are many benefits to owning your own business:

    • Your years of hard work can result in wealth not unemployment
    • For the self employed, just about everything is a tax write off
    • You will eventually have the ability, money and time to help others
    • You will eventually have more time to spend with your family
    • You will eventually have more self-esteem
    • You will eventually have much more freedom

    Here is my personal perspective. When I look around at the friends and colleagues I have known and worked with, the happiest and most satisfied people are those that own their own businesses. They have the most freedom, and the most control over their lives, even more than most CEO’s I know.

    And that’s because CEO’s can be fired. Even if they are really good. Being in top management does not necessarily give you more control over your future.

    I’m not saying that being an employee is bad, but if you have an opportunity to be self employed you should consider it carefully.

    Yes, I know some CEO’s who are on top of the world, and I am very happy for them, They worked hard and smart. They took very good care of their people. They made some unbelievably brilliant strategic decisions. They made a lot of small decisions that added up to something big. They truly deserve their success.

    On the other hand I know many high level executives, including CEO’s, who are currently unemployed because someone fired them. Whether they deserved it or not, even at a high level, they were not in control of their destiny.

    As an employee you can dedicate many years of your life to a company, only to find yourself out of a job due to situations totally out of your control. Management changes, mergers, acquisitions, downsizing and outsourcing all have a tendency to force sudden and unexpected change.

    On the other hand, if you own your own business, you will still face competition, change, legal battles etc. But in every case you will have time and an opportunity to fight and win. Big difference.

    However, the risks in starting your own business are far greater than if you were an employee who worked for someone else.

    According to Michael Gerber, author of The E-Myth. in the US, there are over 1,000,000 new businesses started every year. 40% of these fail in the first year. Another 40% fail before year five. So the odds are against you.

    There are ways to beat the odds. The success rate for franchises is much higher. Something like 50% or more of the franchises make it past five years.

    The key according to Michael Gerber is that franchises offer you a proven Turn Key business.

    However, franchises are still very risky. We know people who lost a lot of money on franchises and are still not self employed.

    If you are planning your future, and you eventually want to be able to slow down and have some money to retire on, you have three main long term career choices:

    What are your choices for ensuring you can someday retire:

    1. Try your hand at building your own business i.e. being self employed. Build it big enough that it not only pays for your retirement but that you could sell if you wanted.
    2. Be an employee and make sure you earn enough and save enough for when you retire, or when you get laid off or fired. Remember, high level executives are not immune from being fired.
    3. Get a government job, because most government jobs have retirement plans and pensions. Military folks and city employees usually get to retire with a full retirement plan paid for by our tax dollars. I’ve seen some folks who have two retirement plans, one from the military and one from a city, state or federal job.