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This is a blog about my life.... about living healthy through faith in God, exercise, good food, relationships, friendships, etc...

Tuesday, July 6, 2010

Business Savy

so I am moving and came across a few magazines that I have kept throughout the last year- without adequate time to read. I am finding myself inspired by the articles on entrepreneurship. One article titled "The Entrepreneurial Spirit" (Florida Trend Mag.) asks questions regarding starting your own business:
  • Am I willing to invest 50-70 hours a week to run a business?
  • Am I self-motivated?
  • Do I have experience in business skills and leadership?
  • Am I willing to risk my savings in a venture?
  • Is my family supportive of the time/money I'll have to spend?
  • Do I have a product thats in demand?
  • Will I need outside financing, do I have a network of affiliants who will provide it?
  • Do I know my competitors?
  • Will my company have an advantage over existing firms?

A Business plan includes:
  • business niche, marketing, management experience, and expenses.
  • Target market- is it growing/ shrinking?
  • Competition- steengths/ weaknesses/ market share/ pricing strategy
  • Benefits of the product/service - its appeal to customers/ business location
  • Management team- info on experience of those involved
  • Focus plan towards the future

Even more inspiring is an srticle titled "How to fireproof your job" (Money Mag)
It says
  • Stand out, Step up- let the higher ups know you are problem solving
  • Be a money maker- share client leads ideas to generate revenue if its not part of my responsibilty
  • Dont be a debbi-downer- hang out with people the boss respects, the halo of their job may extend to you
  • Increase your value- keep on top of advances in your field and expand your expertise beyond your core area
  • Go beyond your job descriotion- look for problem spots that you can help fix. pitch in whenever help is needed.
  • Make a sacrifice- volunteer to take a pay cut during downturns make you look like a hero.

Blogs that inspire funds:
getrichslowly.org

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