How To Start a Business You Can Afford Right Now

Are you sure that you are ready to open a business? Do you know what businesses to start? Some things are the same about any business. You need a business license, inventory, advertising budget and customers. You also need to rent a place where your business will be located. This all cost money and lots of it. It normally takes thousands of dollars to open a business. We have all heard that it takes money to make money. If you have money to gamble with, you can proceed with starting a business that requires lots of money. For the rest of us there is a great alternative and one you should consider.

It’s a janitorial cleaning service of your own. How big you can grow the office cleaning business is up to you. The sky is the limit because in the janitorial service business you can duplicate yourself. You can replace yourself with labor that you employ. This way, more than one office or building can be getting cleaned at the same time. This is the ultimate business to business idea. Every customer is a repeat customer and will be paying every month for your service.

For this reason, when starting a business, you should consider the janitorial service. Before you dismiss this opportunity, consider this. When it comes to business to business ideas, this is one of the best. You don’t need to pay rent for an office as you can use your kitchen table to get started. Customers have no reason to come to your home office so you can avoid paying rent to do business. You can even take advantage of the tax deduction of a home based office. You can get started this way and avoid the big start-up cost associated with normally starting a business. In the janitorial service you can line up your first customer before you need to spend any money on anything.

You can start a business this way and eliminate the financial risk of getting started that is so common with other types of businesses. Instead of going out and spending money right away because you are going open a business. You can put the cart before the horse.

In the cleaning business you can acuumulate things and do so only as you need them. If you have ever wondered about starting a business of your own, you should know that no other business offers you so much opportunity for growth and financial rewards. You can start your own janitorial service business on a shoestring budget. When you compare the low start-up costs of starting a cleaning business to the start-up costs for any other kind of business it’s really no contest.

You can always employ people to help you get the cleaning done. Needing help should not stop you from starting your own cleaning business. Many people would love to have a part- time job and clean for you. Many entrepreneurs spend large sums of money to start a new business and risk it all in the process. The fact is, most businesses end up going out of business after the first year but not in the cleaning business. It is a great service business and the opportunity is open to all. Ask anyone to name you a cleaning business and they would have to think about that one because no company dominates the cleaning business. It is wide open, so when your thinking about starting a business, consider the ultimate business to business idea of your own janitorial service. Commercial cleaning takes place everywhere and cleaning is here to stay.

The “WHY” of How To Start a Business

How to Start a Business is a big question asked by a lot of people. Why? Well, it is because a lot of people have aspirations of running their own business. It may have been something they wanted to do since childhood, or perhaps something they were exposed to in school, or an idea that came to them while working for someone else. Whatever the reason, starting a business is a lofty goal and knowing how to start a business is the foundation.

There are three basic philosophical questions to answer before starting a business. Of course, these questions are broken down into many other smaller questions, but for our purposes here, we will discuss the basics. They are:

1. The Operation

2. The Motivation

3. The Culmination

First, the Operation. The obvious and most basic question starts here. What is the business? This may seem elemental, but really, it is the most important question. Many people have a plan to start a business. Some want to start a business because the business makes lot of money. Others want to start a business because the business is something they love.

These may appear to be good answers to the first question, but in truth, they are not. Not at all. Why? Because making money is a benefit but doesn’t necessarily give you a life. Doing something you love is a benefit but won’t necessarily give you income. The answer to this most basic question must be something which encompasses both.

Making money in a business that is boring and monotonous is a mistake millions have made. A life of making money in something you have no concern for or even despise will make a bitter person out of you. So you may have money, but if you cannot enjoy the making of it, where is the benefit?

Running a business for a product or service about which you are imbued with passion but can barely pay the bills is an exercise in futility. Ever known someone who did this? I have. They struggle to remain in a business simply because they like the doing of it. These people have confused a business with a hobby. One makes money; the other is for kicks.

The right answer to this most basic question is a business for which you really care or enjoy, and has potential of making good money. If it has both these qualities, it may be the right choice.

The second question in the quest to find how to start a business is the Motivation. What is the motivation for your venture?

In other words, if you had to summarize why you are taking on debt, working endlessly, depriving yourself of free time, and bearing substantial responsibility, what would the answer be? This most crucial step is one which cannot be ignored. Assuming you love the subject, and the business had a track record of money-making opportunities, if you can address the why of your venture you have answered many, many potential questions that will surface down the road.

Do you wish to change something about your world? How about your specific industry? Does the business provide for the particular needs of a specific group of people for which you deeply care? Does it better the lives of people, or does it increase the effectiveness of people?

Whatever the motivation, it needs to be something about which you feel you were created for. It must be “you” to the core. This concept runs far deeper than merely enjoying the subject of your business. It is more about the inner motivation which drives you onward. It is the essence of what the business is about.

If the business you are contemplating is something you enjoy, something that makes money, and something which fills your heart and mind with ideas and plans about how it can impact the world, it just may be the right choice for you.

But there is one more thing to consider.

The Culmination.

The culmination of your business is the peak, the highest point, the “future” of your business. Put into a question, it is: where is the business going?

Someone may love the newspaper industry. They may love to write and edit. They may love to cover current news and tell stories. They may even work in an area of high newspaper subscriptions. But one who would consider starting a newspaper today is most likely ignoring the culmination step.

It doesn’t take a research team to figure out where the newspaper industry is going. It’s not up. It’s away.

For someone starting a newspaper franchise 4 decades ago, the future was bright and that person could make a lot of money if done right. But not so anymore. It might have been a wise goal at some time in the past; today it most likely a trip to failure.

So a substantial consideration in the quest for the perfect business involves looking to the future of the business, and asking the simple question: where is the industry going? While no one can see the future or know if a certain industry will still be here in the days ahead, we can make educated guesses that will greatly influence our profitability.

Some businesses never seem to fade or expire or lose their appeal. And others never seem to last more than a decade. Yet most businesses have a “peak”. They have a period during which they will produce more and have more impact than at any other time.

It is your job to determine with some certainty when that time is. Is it in five years, is it two decades, or is it impossible to know?

If you can take these most basic and fundamental steps and answer these questions with clarity, you will have likely saved yourself time and money and heartache in your search for the perfect business. Knowing how to start a business begins here. And after these first elemental steps are complete, it is then time to move into the more specific questions of tax implications, business entity structures, and other such considerations.

Rhett Kniep is a licensed real estate business broker and building contractor. For over a decade he has successfully worked in the real estate investment business, buying and rehabbing and selling investment homes, commercial real estate, and businesses. He enjoys sharing his learned insights in business sales and development with others.

Starting A Business (With Minimal Resources)

I have had several people tell me that they want to start a business but do not even know where to begin. Honestly, it can be pretty overwhelming if you don’t have any steps to follow. Thus, what I am going to share with you here can serve as guidelines for you.

Be sure that what you intend to do is your passion.

Don’t just jump into any business because it’s a fad, your friend made money out of it, you think it’s going to make money, or whatever reason other than it being your passion. So before you even think about setting up your own business, ask yourself the following questions: What do I love to do? What do I enjoy doing? What am I really good at? What am I most experienced in doing? From here you will know what your passion really is. And if the business you are thinking of setting up does not fall in this category, forget it. It is not going to work.

Work with what you got.

Do not even attempt to think of thousands or hundreds of thousands if all you have are hundreds. I am not talking about financial projections here but where you are to begin. If all you can spare is $500, then work on that. If all you have is a computer and phone, then work with what you have. Start with what you have, not with what you don’t have. Then work your way from there.

If you need top-of-the-line equipment, look for slightly used ones for sale instead of buying it brand new. Keep your costs low.

Invest wisely.

Whether you plan to borrow money or you have enough savings to start with, learn to invest wisely. Write down everything you need, and prioritize.

Your priorities should be your main business tool or equipment, as well as your promotional tools.

Find out what business laws you have in your city/state.
Some cities/states do not require you to register a business unless your gross yearly earning is over $12000. If this law applies to your location, and if you are not sure how much money you will be making on the first year, then don’t register your business yet. Test the waters first and work your way from there. As far as I know, if your business is not legally registered, you are only allowed to use your name and not any other name for the business.

One way to really start low is to experiment first. If you plan to venture into a food business, try cooking from home and sell your food to your neighbors and friends. If you want to do wedding planning, then let your friends know and do their wedding planning for them, for a very minimal cost. You can even do it for free. This is a good way of building up your credentials.

Get all your tools ready.
Other than the equipment, furniture, supplies, and other things you need for your business, the ‘tools’ that you need to prioritize are your “promotional tools”. These include your business card, website, flyers, business sign, letterheads, brochure, social media, etc. The kind and extent of promotional tools you need will depend on the type and size of business you are thinking of. The basic promotional tools for any type and size of business are business cards, website, brochures, flyers, and social media. Do not even attempt to start a business without these tools ready; otherwise you will be like a soldier in battle without his ammunition. Likewise, do not attempt to do all these yourself unless you have the skills and experience in doing so.

And don’t forget the most important tool of all: your business plan. This is your blueprint – where everything about your business lies. It is what you will need to apply for a loan, to apply for a grant, and to create your promotional tools.

Leave your promotional tools in the hands of those who are more equipped to do it. This is where I can be of help to you.

Promotion is the key.

Once you have all your promotional tools ready, it is going to be easier to promote your business. Have your business cards with you at all times and give it to anyone you meet. Your business card should already have your website and social media addresses. Flyers help a lot when you are promoting a product or a service that is better presented through visuals such as photography, weddings, flower arrangement, etc. Brochures are most effective if your target audience are groups of people such as church, organizations, corporations, etc.

Utilize every opportunity and connections you have. Keep promoting!

Build relationships.

Repeat business is the biggest indicator of a good business. And the only way people are going to refer you to others, or do business with you again, is if they are satisfied with what you provided them with. Customer satisfaction is not so much how good your product or service is but how good they felt about you and what you did for them. It is all about the relationship that you build with people.

Integrity counts the most.

Integrity is more than trust. It is the result of consistent trustworthiness. It means that you walk your talk… you deliver what you say you will do… you stay committed to your commitments. When you have integrity, customers will prefer you over your competitors. They will choose you because they know that they can rely on you, whatever happens.

Work harder than an employee.

Some people who are considering setting up their own business think that if they do this, they can relax and act like the big boss who seems to do nothing but walk around. The opposite holds true. Since you are your own boss when you have your own business, you really have to operate like a boss. And bosses are not just walking around. They are the ones who do almost all the thinking, problem solving, decision making, financing, networking, and all the more difficult and tedious mental tasks. Add to this working like the hardest working employee you can ever find. In short, you are the boss and employee at the same time, unless you plan to hire people under you.

Stay committed and consistent.

Once you start a business, you have to remain committed to it. It’s not an experiment that you can just start, and then end when it does not work in a few months. You can’t be dictated by your emotions. You have to get going no matter what happens. This brings us back to what I said in the beginning of this article — find out what your passion is.

Lisa is a Professional Writer/Consultant with over 15 years of experience in Professional Writing, Public speaking, and Human Resources in Organizational Development. She manages a Professional Writing business and offers the following services: Résumé, Business Letter, Business Plans, Website Content, Editing Jobs, Press Kits, and other similar requirements.

How to Start a Business and Follow Your Dream

Owning your own business is a goal that many people dream of, but not everyone realizes this dream. In order to make your dream come true you must a plan. This plan will lay out the steps you need to make your business a success. Many small businesses fail for lack of planning and resources. Use these tips to start a business and follow your dream.

Write a Business Plan

A business plan is the first place to start. In your business plan you need to state the nature of your business, a company description, organization and management structure, marketing plans, your target audience, and a budget. Depending on your business you plan may contain more items; each one is different because each business is different and has different goals.

Get Training

The Small Business Association has free training seminars you can attend if this is your first time starting a business. Their courses cover all aspects on how to start a business. If you’ve never had any financial training you may want to consider taking accounting or bookkeeping classes. These classes will give you a deeper understanding about the financial structure of your business and how to keep accurate records.

Location is Important

If you are going to start a business and have a physical storefront you need to give location a lot of thought and research. Scout out locations in your town and talk to other business owners in the area. Ask them about the traffic flow, if the area is safe, and if they would rebuild there again. Enlist the services of a commercial real estate agent. They will help you navigate the complicated process of purchasing commercial property, or find the perfect location for building your storefront.

Research Financing Options

You have several options to explore when you start a business. The Small Business Association offers loans at competitive rates, and they have several types of loans and loan structures set up to help people start a small business. Banks are an obvious choice, but you may want to explore venture capital, personal loans, and grants.

Obtain the Proper Licenses

In order to do business you will need to register your business’ name with your state. This is known as “doing business as” or DBA license. You must get a tax identification number from the IRS, and register for any state or local taxes. You will also need to get any local and state business license and permits.

Hire Your Crew

As an employer you have certain legal responsibilities to your employees and to the government. Contact OSHA to find out the safety concerns pertinent to your business, and get an employer identification number so that you can file taxes. Don’t forget to deal with the three types of withholding taxes; federal, state, and social security. Keep excellent records so that when it comes time to file your quarterly taxes you will be ready.