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5 Reasons to Start Your Own Business

Posted on December 13, 2011

Perhaps what the most successful companies and CEO's fear the most is their business failing or filing for bankruptcy. There are many risks involved with investing in your own business, but there are also great rewards. Just the thought of failing and losing everything you've invested and put into a business - your time, energy, money, retirement funds, would discourage even the bravest entrepreneurs out there. But don't worry too much about statistics that report "50% of all businesses fail within the first two years" because with a great idea and lots of skill, dedication, and a bit of spazz, you can turn your idea into a lucrative business. Read on to find out our top 5 reasons on why you should open your own business.

For one, there is no longer such a thing as "job security." We all know, and economists too, that these days, the economy is unstable at best. Positions that have been stable and secure could now be let go at a moment's notice. The only thing you have complete control over is your own business, since you're your own big boss. Not only has the corporate world changed, but even in a good and stable economy, you can only do so much if you work for a company and not be your own boss, making your own future more secure.

Secondly, opening your own business teaches you how to be efficient, and get more from less. You make the most out of everything you have. Your best resource is yourself and your business, so you know how to prioritize in order to be successful.

Third, any new venture comes with a great amount of risk and gambling. Being your own boss means that you are the key decision holder and you have the power to truly transform your operations. It's up to you to decide how far and what you want to risk. No business has gotten really successful by playing it safe, so you hold the key to innovation and being creative. There are lots of small inexpensive ways to test your ideas, but the true advantage of starting your own business is that you get to put your ideas out there, and try different ones until you find the best approach, product, or method. Read More...

Public Vs Private Company

Posted on December 2, 2011

A privately held or unlisted company is an organization run by non-governmental entities or by a small number of shareholders or members. Most importantly, the shares are offered, traded and exchanged in private instead of trading the stock to the public through stock market exchanges. On the other hand, a publicly traded company or a public company offers its stocks to the general public through stock exchanges or market makers earning the confidence of investors. Normally, the stock market sets the value for these shares based on the price range decided by the underwriters. However, publicly traded companies are different from publicly owned companies. While the former is under private ownership, the latter is owned by the government.

More number of private companies opting to public every day due to the potential to raise capital for expansion and internal development. By issuing IPOs, any private company which has gained the confidence of the public can raise funds by selling them a chunk of the organization in the form of securities. Since the underwriter syndicate decides the price range of each stock based on the recent performance of the company, the buyer can safely invest in these. Another advantage of public companies, from the buyer perspective, is that the public nature of the company ensures accountability. As soon as a share is bought, the company becomes answerable to its stockholders. Every public company has to provide periodic information about the finances and profits. SEC mandates an annual submission of Form-10K, which consists of detailed information regarding the company's performance in the previous year. On the flip side, all public companies need to perform extensive paperwork and bookkeeping. Read More...

5 Powerful Tips For Starting A Business

Posted on November 12, 2011

Thousands of people dream about starting a business every day, yet only a very small percentage will ever turn their dream into a reality.

If you follow these 5 important tips then your business idea can get off the ground. Not only that, it can also succeed and become a sustainable venture for many years to come.

1. Get your head out of the clouds.

The first important lesson when considering a new business venture is to be realistic. Whether you are wanting to open a shop or an online venture you must be realistic. Without a realistic approach you are likely to fail. Far too many businesses fail in their first 3 years simply due to unwarranted expectations. Business owners expect their business to flourish quickly instead of having the patience to gradully build their brand and company.

You need to ask some serious questions before you start your business. Will it work? How much money do I need to get it started? What are the business risks? How much do i need to earn to survive? You must consider these questions carefully. If the responses are positive, go for it!

2. Market research.

You must carry out lots of market research before you start your first business. You do not have to pay a company to do it for you, you can do it yourself. Find out who your target customers are and ask them if they would be interested in your product or service. Avoid asking friends or family relatives as they are likely to tell you what you want to hear, as opposed to some truthful and honest feedback.

3. Don't borrow money from a bank.

Unless you are absolutely 100% certain you have the next big thing, avoid the banks. Try instead borrowing from friends and family but make sure you limit the risks and the amount you borrow. Read More...

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