I’ve learned many small business ideas from my mentors. Trading is one of the best because once mastered, it can be duplicated over and over again. How will my trading strategies benefit your quest to making money? You will have a mathematical edge using these strategies.
Let me tell you a secret, those reasons look good in business articles and in management magazines, a lot because they sound good and they are quite fancy management terms analysts like to use. These scan and senior managers love those terms so much they keep using it in their jargon, so much so,until the small business owner feels inept,under educated and wants to run and hide on it’s first crippling fear that his business is not good, and that he is a dreamer and has no business setting a business of his own.
When you see a trend that is restricting a positive cash flow, then you need to have tools at hand to correct the problem, fast. When developing a plan to infuse cash into the business, make sure you line up the sources for the appropriate use. For instance, short term cash problems can be handled with credit cards or a line of credit. Longer cash flow needs might be financed through long term secured loans or a capital loan.
I’m sure you are absolutely able to learn all these things, the question is how long will it take. Let’s assume it would take you 160 hours, or one month, to learn these things and build your own site. You expect your business to pay you at least $48,000 a year, which equals $4,000 a month or $25 an hour. For this example we will assume it would have cost you $2,000 to pay someone else to create the website of your dreams.
Now onto your marketing plan. This plan involves how you will sell your product or service to your target audience. Like a business plan, your marketing plan will provide a map of your business, however with a SWOT analysis (strengths, weaknesses, opportunities and threats) you will gain a better insight into the market potential of your new business.
Know Your Best Job Characteristics. Not every job is meant for you, unless you want to get first-hand experience working with the client’s from hell. Analyze each job and owner based on specific parameters that help you make a profit and keep cash flowing with similar future work.
Regardless of your issue; stuck in your business, asked to chair a new project or wanting to launch a new idea, the SWOT Box will help you get think out of the box and harness your creativity!