Love My Businesses

The Second Income Solution to Mortgage Rises in the UK

Fri, 17 Jun 2022 07:37:10 GMT

Overcoming the New Salary Rise Requirements for Mortgages

By Jamieson Lee Hill, Head of Copywriting and Content

In this article we examine how the mortgage rises in the UK will make it impossible for many people to apply for a mortgage because of the need to earn 15k more. We explore a solution to this problem which could be the ideal way around this challenging development.

Recent reports in the UK National media show that house buyers will need to attain a 37% pay rise to be granted a mortgage. This is equivalent to an increase of £15,000 in salaries outside of London or as much as an extra £29,000 in London.

The increase in interest rates is going to force large numbers of home buyers off the property ladder. Property experts are also forecasting that the practice of remortgaging will no longer be affordable. This is likely to lead to decline in house prices in the UK and some property owners being forced to sell with no other option available.

With the Bank of England forecasting a recession and the possibility of interest rates rising further, people looking to buy a house in the UK with a mortgage are facing an uphill battle.

What is the solution to rising salary levels for a UK mortgage?

Achieving a salary raise of £15,000 is not an attainable target for the majority of people. A more achievable solution is to run an online side business to bring in the extra income to meet mortgage rises.

The increase in the number of people running online businesses has been prominent since the start of 2020. People were forced to shop online during the pandemic and lockdowns and as a result online business saw massive growth.

Which is the right online business to choose?

If you have an incredibly busy job with little time or energy left over, a business which is fully automated is a pragmatic solution. A fully automated business is where you invest your money and then an online team runs everything for you. You just bank the passive income that you earn once you have invested.

ECommerce, networking businesses and other ideas

For people with more time and who want to be more hands on, other notable choices are eCommerce , digital marketing and networking businesses. Also, online cleaning businesses or running an agency of VAs (virtual assistants) are popular choices.

Boosting an existing business

Another approach to increasing revenue and income for a mortgage would be to expand an existing business which you own. The Growth Accelerator is a virtual package of marketing tools and processes that help businesses scale and increase their profits.

Advice on overcoming the mortgage salary rise

London based entrepreneur and MD of LMB, Jey Jeyanathan's advice for people concerned about the new mortgage rates is to consider these factors,

"With recession looming and businesses cutting back on staff, promotions and increases in salary rates are even harder to obtain. With an online side business you have the opportunity to bring in a second income and for fully automated business models, it is a passive income.

In times of recession and economic downturn, entrepreneurs innovate their way out of a crisis. Running your own side business is a sensible opportunity to increase your overall income to obtain a mortgage."

Section Ten - A Comprehensive Guide to YouTube for your Business

Mon, 06 Jun 2022 07:29:02 GMT

Advice and Guidance on Growing Your Business with YouTube

By Jamieson Lee Hill, Head of Content and Copywriting

Introduction

Video has the highest engagement rate of any form of content on social media. A HubSpot Study showed that 54% of consumers wanted to view more video content from businesses and brands they buy from.

What Customers Expect

Customers have an expectation that brands will create and share content which is entertaining and captivating. YouTube is a vital marketing tool for many companies in the digital age and can be easily added to your marketing plan.

Establishing Your Brand

YouTube gives your business the chance to engage your target audiences and build authority, trust and credibility. Exposure to your brand through video makes potential customers more familiar with your business and it is an integral part of the Customer Value Journey where you build a relationship with them.

Know your Audiences

Younger audiences under 30 tend to prefer video content to written content. Research suggests that over 40s have a higher preference for branded emails than younger people. It is important to decide the target age group of your audiences when planning your video content and marketing campaigns.

What are the Benefits of using YouTube for your business?

1. Ranking on Google

When you post videos on YouTube you are also increasing your chances of ranking in Google searches. The more videos you post and the more viewers you get, the higher your ranking on Google. The Google algorithm detects if you are getting lots of traffic to your YouTube channel. In turn, that pushes you up the ranking, with the ultimate goal of getting to the first page of Google which is the El Dorado for businesses.

2. YouTube has a Massive Audience

YouTube has over 2 billion active monthly visitors and it is the second largest search engine on the web. This means that your content can be shown to a very large audience of people all across the globe.

3. Lead Generation & Qualified Traffic

By creating content for your target audience, you will attract people who are truly interested in your products and services because of the nature of your content. They represent qualified traffic which means they are people who are the most likely to become your paying customers in the future. Qualified traffic is more likely to convert than less qualified visitors who are just browsing but not really interested.

4. Increase Sales Conversions

Videos can be a powerful way to stir emotions in a prospect and connect

with them. Remember that people usually buy products based on emotions and the feeling that the product gives rather than just the features. In that sense, videos can animate your brand and build its personality in the eyes of the customer. Fun and creative videos can build trust and familiarity with potential customers.

5. The Power of YouTube Ads

YouTube Ads can be paid for to expand your audience and with 2 billion users it is one of the best platforms to advertise on. See our later section about the type of Ads you can use.

6. Repurposing your YouTube Videos

Once you have created a video, it can be shared across social media platforms, your website, your blogs and also uploaded to other video platforms such as Tik Tok.

The one thing to be careful of in videos is the use of copyrighted music. Tik Tok allows the free use of copyright music, but it may not be allowed on other social media platforms.

7. Calls to Action

It is important that you write a CTA or Call to Action on your videos because then prospects are more likely to take the action you want them to e.g. subscribe, like, click through to your website etc. A CTA is basically just telling the person what to do next. It is fundamental to marketing on websites and social media.

8 Simple Steps to Promote Your Business on YouTube

Step One: Create Your YouTube Account for your Business

Firstly, create your YouTube Account and customise the channel for your business and brand. It is best to use high resolution photos and images for the best look. Also, the branding colours and design should be congruent with your own website and social media platforms.

Write a channel description highlighting what it is that your business does and what the videos are going to be about. Finally, share your business contact details, plus links to your website and social media. Your Channel Description should be exciting and gripping, as well as welcoming.

Step Two: Film a Video Trailer about your Business

The next task is to film a video trailer about your business and include a preview of what people should expect to see in the future. It can be short and sweet, but it should be inspiring. This may be the first video that a prospect sees, so be sure to give them a reason to watch more.

You don’t have to hire a professional videographer to film it. You can use your own mobile phone to film a trailer but use a simple tripod to ensure that the video is steady and not shaky. For better sound quality you may also want to use an external microphone if your phone microphone is not good quality.

As you get more experienced at making videos, you can invest in better equipment such as cameras, microphones, green screens, etc. See the later section about investing in equipment.

Step Three: Create Videos and Categorise

Start to create videos for your channel. They don’t have to be really long, in fact 2 to 3 minutes is fine. In today’s busy world people have short attention spans anyway, so shorter is often better. If you make videos that are one minute long, you can also post those on Instagram and other social media. Reels on Facebook and Instagram allow videos longer than 1 minute.

If you don’t think your phone specs are good enough to make videos, then invest in a quality camera with decent audio quality. Film the video in HD for best results.

In your videos put a CTA, Call to Action, asking people to like the video and subscribe to your channel. These metrics will be picked up by the YouTube algorithm and it then puts your video in front of more people. This is how most social media algorithms work.

Clearly categorise your videos with headings and subheadings and create a Video Content Plan of future videos you intend to create. Be sure to keep an eye on the competition in your sector and see which video content is doing very well. Then emulate and do your own videos on similar topics if that is what is trending and popular.

Step Four: Keywords and Meta Descriptions for your Business YouTube

Using keywords and phrases relevant to your sector will draw in more traffic. One approach to finding keywords is to look at competitor channels in your industry and see which keywords and hashtags they are using. Then you can use some of the same keywords and hashtags on your channel.

Also, put keywords into your About section and the titles of your videos. Don’t stuff your content with keywords but use them naturally as you describe your video content and channel. Quality content is the best way to attract new subscribers.

Writing Meta Descriptions

A meta description is a short piece of written content which shows up in the listings of search engines like Google. Writing and optimising meta descriptions is part of SEO marketing. You can write keyword phrases in the meta descriptions for your videos to optimise your channel for search. Here is a short and useful video about writing meta descriptions .

Step Five - Promote Your YouTube Channel on Your Social Media Platforms

To draw more traffic and views to your YouTube channel, post about your YouTube all over your different channels e.g. Facebook, Twitter, Instagram, Linkedin. Likewise, let people know about your other social media channels on your YouTube videos.

The ultimate goal of using YouTube and other social media platforms is to drive traffic to the landing pages of your business website to sell products and services to prospective customers. Don’t forget to ask your viewers to share your YouTube videos on their social media too.

Step Six - Interact with your Viewers and Other Channels

By interacting with viewers and responding to their comments you start to build a relationship with them. Resists the urge to be salesy, first focus on cultivating a relationship. As they grow to enjoy the content of your business YouTube, the quality and usefulness of your videos will build brand authority and credibility. This leads to trust and they are more likely to purchase your products or services.

A good way to engage your audience is to ask them for their reactions to the content or topics and also to get their ideas about what type of content they would like to see on your channel in the future.

Never engage in arguments in the comments, be positive and business like. If you have complaints, take them to a private channel such as email as soon as possible. Comments threads arguing with customers are very detrimental to your business and branding.

Step Seven: Set up a YouTube Ad Campaign for your Business

If you don’t want to rely solely on organic search, you can set aside a budget for paid advertising aka paid traffic. Here is a video tutorial to watch about promoting your YouTube videos with Google Ads Words:

‘How to Promote YouTube Videos in Google Ads and Boost Channel Growth - Google AdWords Tutorial 2021’

https://www.youtube.com/watch?v=w5zofPm3FHM

Types of YouTube Adverts

Here is short tutorial video on YouTube which talks about the 3 main types of ads your business can pay for on YouTube:

https://www.youtube.com/watch?v=t-Zsm7rAggM&ab_channel=KyleSulerud-AdLegInc .

Discovery Ads
In-stream Ads
Banner Ads

Discovery Ads

These ads place your advert next to content which your target audience is probably interested in. They also feature in YouTube search, the YouTube App home feed and in ‘watch next’.

In-stream Ads

These ads can appear before, during or after videos. They are skippable ads and viewers only see 5 seconds before the skip option appears. This means your ad needs to be compelling.

Banner Ads

This type of ads are image-based as opposed to text. Banner ads are a very popular choice for paid advertising. The main function is to get traffic to the company’s website and to make the brand more visible.

Step Eight Social Listening

Social listening is something that you should practise each week to stay on top of what is happening online. It basically means to listen to and analyse the trends and online discussions about your brand, your competitors and overall industry. Then you should apply those insights to improve your own marketing strategy.

This is actually part of what is called agile marketing i.e. being flexible enough to react and respond to trends and events in your sector to stay ahead of the game.

20 Tips for Using YouTube to Promote Your Business

Here are 20 useful tips to guide you when creating and sharing videos for your business.

1. Build Relationships with Personalised Videos

As a rule of thumb, consumers like to buy from brands which they are familiar with. YouTube allows you to build relationships with viewers so that they can enjoy your brand and begin to trust your business. In this way, they are more likely to become paying customers. Therefore, it is a good idea to make videos where you introduce yourself and your team and from time to time post videos about the happenings at your office among your staff. It makes the brand more personable and human.

2. Make Product Videos

You should use your channel to show your products’ features to the public in an entertaining and captivating way. Before you make a video or series of videos, write a content plan of the main points you intend to cover. Also, write a short video script to use.

Get all your equipment ready and then speak clearly in a friendly and engaging manner. The more personalised your approach the more likelier you are to build rapport with your audience.

People love ‘How to’ Videos (see below) and ‘Unboxing Videos’ so be sure to include these types of videos on your channel. Look at other channels with high numbers of views for inspiration.

Keep the video to a maximum of 3 minutes because most people live busy lives and have a short attention span. If you want to say more, consider making a series of videos about one product or range of products.

3. Establish Your Authority and Solve Customer Problems

Use YouTube to establish your authority in your field. By building your credibility with sharing free, valuable content, viewers will grow to respect and trust you. Then they are more likely to become paying customers as they see you as a source of information and advice.

Post regular quality content to help solve your audience’s problems. YouTube is the second largest search engine after Google and lots of people use it to find solutions to their problems. Harness the power of this to put great content in front of your target audience.

4. Video Testimonials

Encourage your customers to give video reviews and testimonials as this can be a powerful way to encourage new customers. Let customers give glowing reviews of your products and allow them to naturally become brand evangelists. Give rewards and incentives for customers if they share video reviews. 1 minute maximum is fine because people have short attention spans.

5. How to Videos

How To videos are one of the most popular types of video on the internet. Think of a list of How To videos that you can create for your products. Then create videos that explain things stage by stage. If viewers see ways in which to use your products and services, they will have a better understanding and are more likely to buy from you. How To videos are infinitely preferable to long and boring technical manuals!

6. Livestream Events and Interviews

Make your YouTube channel a lively, action-packed marketing platform for live events, interviews, giveaways etc. Create buzz and excitement, so your audience is excited about tuning in. You can also do live product launches with experts and influencers appearing live. A customer Q&A live is also a great way to build rapport with your public.

7. Study the Competition

Look at videos from competitors in your sector and outside of it. Notice the type of video content which has lots of views and positive feedback. Then create similar content but don’t just copy and steal ideas. Keep up with trending topics and the latest news in your industry for ideas.

8. Keyword Research and Hashtags from Popular Videos

When looking at competitor videos, notice the hashtags which they are using. Then borrow some of the hashtags for your own videos, making sure they are relevant to the content of course!

Use keywords in your meta descriptions and channel blurb too. One of the simplest ways to find keyword phrases is to type topics into Google and see which videos rank in the top ten organic search on the first page of Google (i.e. not sponsored). Note down the headings and subheadings they use and recycle them yourself.

9. Use Appealing Thumbnail Images

Choosing a bright and appealing thumbnail photo for your videos is really important because if the image is dull, people will not click through. Thumbnails are like article headlines, i.e. they are the first thing a reader or viewer sees and if you don’t ignite their curiosity, they won’t go any further.

If you are not sure about which thumbnails to use, then look at popular videos your competitors have posted and see which images seem to get the most traffic.

10. Add a Link to your Website

Remember that the whole point of social media platforms like YouTube is to get traffic to your company website. So put a clear URL link to your website with a Call To Action telling people to check out your website.

11. Soft-Sell Approach

Don’t be salesy and pushy with your products. Educate and inform. Value first with content rather than a hard sell. That way you will build a more trusting relationship with your public rather than pushing them to buy from you. Be the expert in the room, not the needy one…

12. Video Responses to Get Traffic

Surf YouTube to find videos which have similar content to yours and then post a comment to say how much you like their video. Invite them to take a look at your video as well. Obviously, you have to be a little careful about where you post because if you start posting comments on your direct competition’s channels, then it may not be well received. It is important to be genuine and not spammy or salesy. Look for videos which are related to your sector but not in direct competition. You could also invite other YouTube channels to be a guest on your video podcast or even interviews.

13. Be Social and Network

YouTube is a Social Media network, so take part in the community and build your connections. Join a YouTube group, add friends and message them (but not in a spammy or salesy way). Set up your own YouTube Group and be sure to make use of the Bulletin Board. The more you put into the YouTube community, the more you are likely to get back from others. Help and be helped and learn new tips and tactics as you proceed.

14. Promote Your Videos

It is not enough to just create videos, you need to promote and share them too. You can post links to your videos on your other social media channels and embed them into your blog posts.

Also include your video links in your email campaigns. Offer free valuable videos on your website in exchange for newcomers' emails, so that you can add them to your CRM and start marketing to them.

Lastly, write a video article with links to your content on YouTube and share it with directories, forums, social media groups and put in press releases.

15. Show Customers Behind the Scenes in your Business

To make your channel more personable and human, show viewers behind the scenes with footage of your team at work. Include humour and show how the process works for products and services. Show happy customers and staff helping customers out. The more you can build a personality for your brand, the more likely you are to attract customers. Be sincere, be transparent and real.

16. YouTube Shorts

These are YouTube videos which are less than one minute long. This is similar to Tik Tok 60 second videos. Videos such as this can get a high number of views and go viral if you are very lucky. Videos 1 minute or under can also be posted to Instagram.

17. YouTube Creator Collaborations

Approach YouTube creators about doing collaborations. Those with large numbers of followers will often charge you high fees, so it is better to consider creators who have under 100k followers.

Those YouTubers with smaller amounts of followers may be open to a collaboration without money being involved or will charge less than the famous YouTubers. You can also ask YouTube creators to give your products and services a review in return for free goods.

18. Have an Ecommerce Store on your YouTube

YouTube is massive for ecommerce sales and online shopping. You can sell your products and services to customers and add a Store Tab. You can also use the ‘End Screens’ function to feature products and services at the end of your videos. During live streams, you can pin your products and services to the top of your channel.

Seriously consider the potential of running an ecommerce business from your YouTube channel. It can be very lucrative.

19. Tell Your Brand Story

Take the role of the narrator and tell your brand story expressing the core values of your business. A successful business is often built on a powerful story. Keep it simple and relatable, as your business grows, share more stories with your public. Remember that when people buy from a business, they are usually buying into an emotion, not just the product features. If you create an aspiring brand that captures minds and hearts, you can nurture brand loyalty in your viewers.

20. Constantly Optimise your Channel and Videos

We have already talked about the importance of looking for keyword phrases and hashtags by looking at your competitors. You can use SEO tools to do this and websites like Answer the Public to see what people are searching for.

Remember that most viewers only see the first 100 characters of your video description. As we said before, you should optimise this and make sure your meta description contains keywords and is compelling enough to make people want to click. The meta description appears in the list of searches on Google, so it needs to be inspiring!

Also, as we said before, use attractive and engaging thumbnail images that stick out.

So now you’ve had your 20 tips to get you started here are some useful links to help you choose your equipment.

What equipment should I invest in for my YouTube Channel?

This website has excellent tips on how to make a YouTube Video and also links to their blogs about which equipment to buy:

https://www.techsmith.com/blog/make-youtube-video/

The basic setup for making videos is as follows:

A microphone
A POP filter
Screen Recording software
Lighting
Camera or Webcam

N.B. If you are working to a budget, just use your mobile phone to start off with. You can always invest in the above equipment later on after you have made some sales.

Good luck with your YouTube channel! Here are some video and reading links to help you on your journey!

Videos on How To Use YouTube for your Business

1.How to Use YouTube to Promote Your Business — 3 Video Marketing Tips: https://www.youtube.com/watch?v=IG35xrTrzyY&ab_channel=ThinkMedia

2. How to Promote Your Business with YouTube Advertising: https://www.youtube.com/watch?v=Ysm6CjDuKHs&ab_channel=ThinkMedia

3.YouTube for Business! How to Grow your Business with YouTube:

https://www.youtube.com/watch?v=TQRTrJDn82w

4. How To Create A YouTube Channel for Beginners (2021 Tutorial) https://youtu.be/bVPjcLL9jGM

5. How to make Video ads (the easy way) https://www.youtube.com/watch?v=xWd0LIl8nkI

READING LIST

Free Digital Training For a New Generation of Entrepreneurs!

Fri, 06 May 2022 09:31:40 GMT

Empowering a New Generation of Entrepreneurs with Free Digital Marketing Resources

By Jamieson Lee Hill, Head of Copywriting and Content

With the surge in online business in 2020 and 2021, one London based Business Listing site is providing free business resources to help a new generation of entrepreneurs. Digital Marketing is proving to be the most popular topic in 2022.

The LMB Vision

Part of the company vision is to build the best knowledge resource website in the world to help entrepreneurs learn to be successful business owners.

Since 2021 LMB have been building a free online Knowledge Centre

Digital Marketing Leading the Way!

Digital Marketing is in the top three most popular sections on the LMB website closely followed by sections on Business Planning and Positive Thinking in Business.

The Top 3 Knowledge Centre Articles

Walk The Talk

Head of Social Media, Matt Bullock, explained the LMB ethos,

“We all quit the rat race to set up businesses on our own. We have created a free Knowledge Centre of resources to give back to the community. It is for new and existing entrepreneurs. ”

Value First Approach

The LMB Digital Marketing guide covers the basics of understanding your target audience and how to market to them. It highlights the importance of high quality content that educates and builds brand authority.

“Content needs to be part of a strategy for your ‘Sales Funnel’. The emphasis is on building relationships with prospects and offering content that gives solutions to their issues. Free valuable advice is our mantra instead of a spammy sales approach. “

Jamieson Lee Hill, LMB

Successful Social Media Marketing

The Digital Marketing guide also explains how it is better to do two or three Social Media platforms well rather than spreading yourself widely across many platforms.

An Action Plan

LMB’s Jamieson suggested an effective action plan for digital marketing,

‘Educate and establish your brand authority by giving away free valuable content’
‘Have a Content Strategy and plan ahead’
‘Do two or 3 social media platforms well instead of doing many.’
‘Repurpose the best content and use it in different ways e.g. turn a podcast into an article, use parts of an article for an Instagram campaign etc.’
‘Practise an Agile Marketing approach which means continuously tweaking and improving your provision.’

LMB has opportunities for people to start their own Digital Marketing companies including Social Command and Blam Websites.

BOILER PLATE:

Love My Businesses is an international business listing site offering online business opportunities to budding entrepreneurs around the world. Its founder’s vision, Jey Jeynathan, is to become the biggest business listing site in the world and build a comprehensive Knowledge Centre of free resources website to help entrepreneurs start their own companies.

The company mission is to inspire entrepreneurs all over the world to take the plunge and start their 1st, 2nd or 3rd business, helping people escape the rat race and achieving financial freedom. The article was written by Jamieson Lee Hill, Head of Content and Copywriting.

How to Survive Financially During the Energy Price Rises

Fri, 06 May 2022 09:25:32 GMT

A Second Income Solution to Survive the Energy Price Hike in 2022

By Jamieson Lee Hill, Head of Copywriting and Content

With a growing concern about the 54% energy price hike in the UK and worldwide price rises, one London based business listing site is recommending an innovative solution in these economically tough times.

54% Energy Price Rise

The increase in global gas prices has led to an energy prices increase of 54% in the UK for 22 million customers. The knock on effect of this is that many households will experience a £700 increase annually.

“The energy price cap increase on 1 April will affect approximately 22 million customers. Those on default tariffs paying by direct debit will see an increase of £693 from £1,277 to £1,971 per year (difference due to rounding). Prepayment customers will see an increase of £708 from £1,309 to £2,017.”

Ofgem.go.uk

Global Price Rises

In addition, inflation reached a 30 year high in January 2022 in the UK. Energy prices and inflation are increasing around the world after a fall in global consumption during the Covid lockdowns. In October 2021, the International Energy Agency stated that,

“Natural gas prices have seen the biggest increase, with European and Asian benchmark prices hitting an all-time record last week – around ten times their level a year ago. US month-ahead natural gas prices have more than tripled since October 2020 to reach their highest level since 2008. International coal prices are around five times their level a year ago.”

www.iea.org

BBC Reports

In February 2022, the BBC reported that significant numbers of people in the UK were worried about being able to afford their monthly bills. Some of those interviewed suggested that they would need to move back in with parents and others said they were ‘barely surviving ’.

A Second Income Solution

Founder of Business Listing site Love My Businesses, Jey Jeyanathan, sees a potential solution in these difficult times:

Setting up a side business to generate a second income.

“With redundancy threats and a lack of job security, it is the perfect time to start your own online business. Not only will it create a second income, you can also offset some of your bills and costs against tax as a company owner.”

Innovate Out of a Crisis

LMB Founder Jey believes that it is possible to innovate in times of crisis to generate extra sources of income through entrepreneurialism.

“Now is the perfect time to start your first business as a side income while you work. We have created a free Knowledge Centre to help people set up their own business.”

BOILER PLATE:

The company mission is to inspire entrepreneurs all over the world to take the plunge and start their 1st, 2nd or 3rd business, helping people escape the rat race and achieving financial freedom. Article by Jamieson Lee Hill, Head of Content and Copywriting.

THE GREAT RESIGNATION

Fri, 06 May 2022 09:18:08 GMT

High Numbers of Enquiries as Record Number of People Quit their Jobs in 2021/2022

By Jamieson Lee Hill, Head of Copywriting and Content

Love My Businesses has experienced a large increase in the number of enquiries with an unprecedented number of people resigning from their jobs in 2021 and 2022. This is being dubbed ‘The Great Resignation’ across the world.

Millennials Seeking To Leave the Rat Race

Since the first lockdowns in early 2020, LMB has seen a 25% upsurge in enquiries from people looking to leave their jobs and start online businesses. This has been particularly from people in the 25 to 34 age bracket who fall into the millennial category.

More to Life

Founder of LMB, Jey Jeynathan , explained why he thinks this trend is occurring,

“During the lockdowns, a lot of people reevaluated their life and work situations. I think people realised they didn’t want to spend their lives working hard to make someone else rich.”

Digital Savvy Generation

Equally, Jey also identified a growing trend among the millennial generation to start their own business,

“Many younger people are tech savvy and with the massive increase in digital business due to covid, they realise the potential in running their own online business as e-commerce and other fields boom.”

Record Numbers Quitting

This trend is worldwide with a Microsoft survey showing that 41% were thinking of quitting or changing their professions in January. In March 2022 figures revealed that 4.3 million people quit their jobs in January in the USA.

In 2021, a record number of almost 48 million people quit their jobs in the USA. This trend is being dubbed the ‘Great Resignation.’ In the UK a survey conducted suggested that a third of staff were thinking about changing their jobs in 2022. In Australia one in five people quit their jobs in 2021.

More Reasons for Quitting

Founder of LMB, Jey, speculated about other reasons for staff giving up,, ‘people are disgruntled with their job, boss, reliance on a salary (or salary-slave as I called it) and a risk of redundancy.’

A New Found Freedom

Jey left the rat race years ago and ‘decided to create a central resource of tried and tested internet business models to help others wanting to go on the same journey.’

“The biggest change would be time-freedom. I would class this above financial freedom. I am free to conduct each day as I see fit. I don't have a boss chasing me, or expecting me in the office.”

Jey’s advice for aspiring entrepreneurs is ‘Go for it. You will never look back.’

About LMB

The company mission is to inspire entrepreneurs all over the world to take the plunge and start their 1st, 2nd or 3rd business, helping people escape the rat race and achieving financial freedom. Article by Jamieson Lee Hill, Head of Content and Copywriting, LMB.

Section Eight: A Comprehensive Guide to Advertising Your Business

Wed, 23 Mar 2022 10:43:53 GMT

A Lowdown on the Main Methods of Paid Advertising

By Jamieson Lee Hill, Head of Copywriting

There are a multitude of ways to promote your business through paid advertising. It is knowing where to start and which methods to use. In this article we explore some of the main forms of paid ads available for your start up! Enjoy.

Search Engine Marketing (SEM)

What is Search Engine Marketing?

Search engine marketing is a strategy to improve the visibility of your website in search engine results pages also known as SERPS. SEM is sometimes described as the opposite of SEO because it refers mainly to paid advertising. However, a successful SEM strategy involves SEO research to find the keywords for your paid adverts that customers are searching for online. Therefore, SEM and SEO go hand in hand together.

How important is Search Engine Marketing?

Search Engine Marketing is very important due to the large numbers of consumers performing searches online for products and services. Therefore, most businesses need to have an SEM Strategy to get noticed.

Most visitors to a website find it via typing in keywords into a search engine such as Google. In SEM, companies that are running paid ads only pay for people that visit their website i.e. click on the advertisement. Hence, the name Pay Per Click or PPC.

PPC Advertising

Pay Per Click Advertising is synonymous with paid search because the majority of advertising is PPC and therefore a major element of Search Engine Marketing.

Prospects who enter search queries with the intention to purchase something are more useful to a business compared to social media users who are not looking explicitly for something. Search marketing is targeted to find consumers at the right time when they are looking for information.

SEM and PPC are one of the fastest and most immediate ways to drive traffic to your business website.

How SEM Works

Search engines deliver the relevant information based on algorithms and factors such as location and keyword phrases. With Paid Ads, these sponsored ads appear at the top of the search engine results before the organic search.

The paid listings at the top of the page will match or be similar to the keywords the searcher uses. Therefore, it is likely that the prospect will click through to the landing page of your website. Each time a prospect clicks on a PPC ad, the company pays a certain amount of money.

SEM is regarded as one of the most efficient ways to invest money into promoting your business.

Running an SEM Campaign

The basic steps of running an SEM campaign are:

Research the keywords for your products, services and your website.
Choose a geographical location for your adverts
Design a text-based ad for the search engine listings. Include a headline, main body of text, CTA - call to action and a link to your website.
Bid on a price for PPC on your ads. For very popular keywords, the companies who pay the most will win the bids.

Search Networks: Google and Bing

The two main search networks SEMs professionals use are Google Ads and Bing Ads. Google AdWords is actually two networks:

Google Search Network: e.g. websites owned by Google: Adsense, Android, Doubleclick, Google Chrome, Google Drive, Google Maps, Google Play etc.

Google Display Network: e.g. YouTube, Gmail, etc

With Bing: you can purchase adverts on the Yahoo network of websites and the Bing network.

Google Ads is twice the size of Bing Ads but Bing ads are often cheaper. Therefore, you may pay less to rank higher on Bing.

A/B Testing of Advertisements

A/B Testing aka split testing is a standard practice in advertising. It simply means testing out different adverts to see which performs better. For example, you are promoting a new product on your website, so you create two adverts - advert A and advert B. After a certain period of time, you analyse the stats to see which advert had the most clicks and brought the most traffic to your website. The best performing adverts can be used again in future.

A/B testing is about optimising your paid ads to have the most amount of traffic and conversions possible for your investment.

A Word of Warning

PPC done incorrectly can result in you ‘burning’ money for little in return. Essentially this means you should either hire an agency or advertising freelancer to run your ad campaigns or you will need to study how to run paid ads yourself. Be cautious not to throw money at advertising when you are unsure of how to run a PPC campaign.

Types of PPC

a. Paid Search Marketing or SEM

One of the most common types of PPC; we have already covered this in the previous sections. This type of advertising uses search ads that appear at the top of search results in Google and other search engines.

b. Display Advertising

This type of advert targets specific audiences and they come in the form of text, banner or image adverts. As usual the paid ad has a click through link to the landing pages of your business website. Display ads are effective for growing your brand awareness and visibility but on average the click through rate is less than Search Ads .

c. Paid Social Media Advertising

Paid Social Media Advertising is about paying to boost your most popular posts. It is important to study the analytics for your social media content and identify posts with the best performance metrics. These are the posts that you should pay to promote on social media to reach a wider audience.

Paid Social Media Advertising is a way of targeting specific audiences using demographic data and to access new audiences. The advertising lets you choose to focus on factors such as their location, age, interests, gender etc. It can be a very effective way of bringing traffic to your website and increasing your customer base.

Social Media Accounts are free to set up and it is important that you become familiar with the platform before you start spending money on promotion. Practise Social Listening on social media to see what audiences are saying about your sector, the products and services etc and identify customer problems that you can offer solutions to.

Study your competitors best performing content and then create similar content. Before you start setting a budget for promotion of your social media content, spend time learning the trends and patterns of the various platforms. Here is a list of Social Media Channels where you can advertise your business:

d. Retargeting PPC Advertising

Retargeting (aka remarketing) refers to when you go online and look for products and services and a small pixel of code known as a cookie is stored on your browser. This piece of code or cookie sends information about your location, time of day, products & services looked at and so on to a third party like Google. These cookies can then be used by companies and marketers to retarget adverts at you e.g. you will see adverts for men’s shoes when you go online today as you were looking for men’s shoes yesterday.

However, the controversial practice of retargeting using third party cookies is set to change in 2023. Google has announced that they will stop using third party cookies. So what does that mean in layman’s terms? When you visit a website Google would usually store information about your online actions and then share that information with companies through tools such as Google Analytics. Marketers can currently use that information to then retarget people with ads who have visited content before to bring them back into your sales funnel to convert them into a paying customer.

With the phasing out of third party cookies Google as a third party will no longer share the information about visitors to a site. However, you will still be able to harvest information about your own website visitors through what are called first party cookies i.e. cookies on your own website and not from a third party such as Google.

Retargeting can be used in display advertising campaigns, search advertising campaigns, social media advertising campaigns and email marketing.

Paid Influencer Advertising

Influencer advertising is when a business pays a person with over 50 to 100 thousand followers on a social media platform to endorse their products or services.

It can be an effective way to get your brand out there. Famous influencers with large numbers of followers will charge large amounts of money for influencer advertising, so you may want to focus on influencers with tens of thousands of followers to start with.

Influencer marketing is a form of ‘celebrity’ endorsement of your product. It is important to select the right influencers for your products and services. You need to check that their followers match the demographics and interests of your target audience. Some of the channels for influencer marketing include:

YouTube
Instagram
Twitter
Pinterest
Snapchat
LinkedIn

Facebook Advertising

Firstly, set up a Facebook page for your business. You must not use a personal profile for your business as they are only for individuals. Start populating your Facebook page with quality content relevant to your target audiences. Facebook is still the world’s largest social media network with 2.91 Billion active users (March 2022).

Facebook is an effective alternative to Google Ads and you can target your particular audiences with ad campaigns focusing on age, gender, location, job, interests, behaviours etc.

Types of Facebook Adverts

There is a range of Facebook ads to choose from; you can run text and image adverts, video ads, polls, promoted Facebook stories, carousel ads, slideshow ads and many more.

How to Write a Facebook Advert

The secret of a successful Facebook advert is to have the following factors:

A compelling hook or big idea that you are selling to the prospects. The hook comes at the start of the ad copy (written text) i.e. usually the first sentence.
You only have 125 characters for your standard Facebook Ad and 25 characters for the headline. Also, 30 characters for the description.

In the main body of the ad copy, you need to show empathy with your prospects and suggest a solution to a problem they have. If the ad copy is focused on the target audience, it is more likely to be successful and people will click through.
The ad needs social proof to help convince people that your brand is trustworthy and popular e.g. your social Proof could be the number of 5 star reviews you have on Trustpilot.
CTA - a Call To Action. A CTA is the action that you want the prospect to take e.g. Register for our free course. Click to download our free report etc. It is important you tell them what to do next.
An attractive image - the image is often called the Ad creative. Choose a photo or picture which is congruent with the copy and an image that compels people to click.
Congruence from Ad to landing page. It is important that your Facebook ad and your website landing page are congruent in terms of branding, copy, image etc. This builds trust with the prospect.

Advertising Training

If you have the time and the inclination to become advertising literate, there are a number of free training programs online for the main advertising platforms including Google, Facebook and Instagram.

Even if you don’t run your own ad campaigns, undertaking advertising training will help you choose the right advertising agency or freelancer to run your paid ads. You will then have a better insight and understanding. Here are a few:

Print Media

In this digital age, it is easy to forget the tried and tested methods that existed long before everything was online. Print media is hard copy advertising that people can hold in their hands and read. So what do we include in print media?

Brochures, flyers and posters are great ways to advertise to your customers about your products and services.
Business cards are still a popular way to exchange details with prospects and help to build your network.
Magazines and journals can be an effective way to focus on your prospective customers. You can produce your own publication or publish promoted content or advertisements within a local, national or international magazine or journal.
Paid advertising in your local or regional newspapers on a frequent basis keeps your brand visible in your local area. See section below - Advertising in the Press.

Sandwich Boards and Billboards

Sandwich boards are a classic form of advertising on the high street. They usually advertise local retail stores and are also used by roadside businesses. A sandwich board can be a sign on the pavement or roadside or alternatively it can be worn by an employee who walks around and gives out flyers to passers by. A sandwich board is a cost effective way to direct passersby into your highstreet store or office.

Billboards are also a traditional form of advertising but are far more costly than a sandwich board. These are large and small boards in towns and cities where you can pay to post an advertisement about your business.

Billboards can be found in a multitude of locations; on the side of bus shelters, telephone boxes, trains, trams, buses, underground, airports, stadiums, motorways, etc. Billboards can be made of paper or be digital. The cost of a billboard depends on the location and the size. Prices are highest in London and generally cheaper in smaller cities and towns.

Advertising in the Press

This is another traditional form of advertising which many businesses still use. You can pay to advertise in your local, regional or national newspapers or journals. You can go for a smaller ad in the backpages or a full page advert. Local newspapers will be much cheaper than national newspapers.

The trick is to write a simple advert which captures the attention of your target audience with a message that focuses on their needs, challenges and aspirations. You will need to choose a compelling headline, main body text, a Call to Action (telling the reader what action to take e.g. email or call us now). You may also include an image depending on the size of the advert; adverts in the backpages of newspapers don’t tend to have images.

People tend to buy based on emotions, so your ad should focus on the benefit your products or services will bring to their lives e.g. our new A.I. website will bring you peace-of-mind with its automatic security updates.

Promotional Merchandise

People love freebies, so you could give away merchandise with your company logo and colours e.g. pens, mugs, t-shirts, calendars, key rings, baseball caps, sweatshirts, coasters etc. By giving these away, you are promoting your business when other people see your company logo and creating love for your brand. This is particularly appropriate at networking events or trade shows.

Radio and Television

Radio advertising is the less expensive option of the two. Choose a local or regional radio station that has a target audience likely to purchase your products or services.

Television advertising is more expensive, but the reach is likely to be a lot wider than radio. Primetime television advertising is possibly beyond the budgets of most start ups.

Paid distribution or paid content promotion are often on platforms and networks known as Content Distribution Networks that promote your content in return for a fee. The content could be blog articles, press releases, reports etc which the Content Distribution Networks then place on newsfeeds on social media, after articles and other sponsored locations on the web.

Using paid distribution can help businesses increase the traffic to their websites quite quickly in the short term.

Section Eleven - How to Be Positive and Boost Your Business Performance!

Fri, 18 Feb 2022 08:03:19 GMT

Five Great Tips on How To Keep a Positive Mindset in Business

By Jamieson Lee Hill, Head of Copywriting and Videogame Storywriter

“The secret of success is constancy of purpose”,

said Benjamin Disraeli (1839 to 1872) many moons ago.

Success is also about being consistently motivated and positive about achieving your goals. Now we know that isn’t always easy when faced by the stress of our modern day lives, family duties, pandemic pressure and the need to pay the bills. Nevertheless, there are some tried and tested techniques out there which will help you wake up each day and be a dynamo of positivity!

Let’s get buzzing with positive vibes! Dig into these five great tips...

TIP ONE - THE MIRACLE MORNING

First up, is an absolute beast of a positivity method. Hal Elrod’s Miracle Morning is now a classic in the world of entrepreneurship. If you’re not familiar with it, let me take you through the basics. It is a method to make sure that you are feeling dynamic and souped up before you actually start work.

How long you spend on the Miracle Morning depends on your availability. It could be a total of 20 minutes or as long as 90 minutes. Whatever the time frame, there are 6 core stages that you can do each morning before work. I learned this technique from Grant Stain, CEO of Blam Websites. Here are the steps:

A. Meditation/Silence : First sit in a place where you will not be disturbed and meditate or just be in silence for a time e.g. at least 3 minutes.

B. Affirmations: Next repeat affirmations for your business and social life. These could be:

Smart Goal Affirmations:

These are smart because the steps are more measurable and tangible e.g.

I will develop my business knowledge by reading 5 pages of a business book each day.
I will become more successful by onboarding 2 new clients every week via marketing and telesales.

More General Affirmations:

These are more aspirational and aimed at achieving a business or life achievement e.g.

I will be wealthy enough to go abroad on holiday every year with my family.

I will be the market leader in my sector within 5 years.

It is down to you to decide whether you want to have measurable goal like affirmations or more general or a mix of both. It is best not to have too many and to repeat the same ones for at least a month for it to have an effect. If you keep chopping and changing then it loses its potency.

C. Visualisation:

Sit down and relax. In your mind’s eye visualise yourself achieving your business and life goals. You can take these from your action plan for the short and long term and it can be directly linked to your affirmations.

E.g. If your goal is to open a second shop for your retail business within 12 months; imagine your new shop, picture the staff and the furnishings, what products can you see inside etc.

Visualisation is a powerful tool to manifest your goals in life. Professional footballers and other athletes use visualisation to achieve their sporting targets e.g. strikers visualise scoring goals before the actual game.

D. Exercise:

However you like to exercise is down to your abilities and limitations. It could be a walk each day, sit ups, press ups, running, swimming etc. Choose a daily exercise routine to do as part 4 of your miracle morning. It can be just a few minutes or much longer depending on your schedule.

E. Reading:

Each day read an inspiring book from your sector or business in general or it could be non-business related, but inspirational. There is a huge market of books and audio books written by business gurus and also self-development mentors. Whatever floats your boat, read for at least a few minutes each day.

F. Scribing:

Writing is the final stage. Either keep a journal and write in it by hand your thoughts and reflections each day. This can be cathartic and help you to understand your journey as an entrepreneur. If you don’t want to keep a journal you could write something inspiring each day e.g. a poem, a few lines about life and work or something completely different. The choice is open to you!

Afterthought - The Order of Stages

You don’t have to follow the exact order of the Miracle morning. Change it to suit your schedule. However, Meditate - Affirmation - Visualise is a natural sequence for the thoughts process, but the rest are more flexible as to what you do first, second etc. I often do exercise first as that puts me in the meditative state but everyone is different!

TIP TWO - THE FIVE PEOPLE YOU HAVE MOST CONTACT WITH

I first heard of this tip from the Mind Coach and author of ‘Let It Go’, David Rahman and Blam CEO Grant Stain on a Blam Websites live session. David asked people to consider which 5 people they have most contact with each month. He explained that it is those 5 people that will have the most effect on your mindset. So if you are regularly in contact with a friend who is negative and leaves you feeling drained and down, this will be a major influence on your mindset.

Of course, with family you can’t always choose how much time you spend with them due to a sense of duty, but identify the people in your top 5 who give you a boost and inspiration. Also, be clear if any of your top 5 people make you feel low. Now, of course, we all have our off days but there is a difference between that and someone who puts you down or ridicules your business and life plans. If you do realise that you have negative influences in your Top 5, then workout ways of reducing your contact time and their effect on you or just be frank and honest with them.

TIP THREE - BINAURAL BEATS AND MUSIC PLAYLISTS

Binaural Beats

Binaural music is a method to affect your mind in a positive way. Binaural beats are beats within a piece of music set at various frequencies in Hertz or HZ. They help you to relax and induce peace, calm, sleep, creativity and so forth in your brainwaves. At the moment, there is limited research to substantiate these claims but some medical researchers are starting to identify the benefits of binaural music:

“ Researchers believe these changes occur because the binaural beats activate specific systems within the brain. An electroencephalogram (EEG) that recorded the electrical brain activity of people listening to binaural beats showed that the effect on a person’s body varied according to the frequency pattern used.”

Source: https://www.medicalnewstoday.com/articles/320019.php

With a binaural beat you hear a different sound frequency between your left and right ears. This is what affects the brain and causes a feeling of relaxation, elation etc. The frequency of the binaural waves is lower than 1000 hertz for the brain to detect them. The main types of waves include:

1) Delta waves: at a frequency between 0.1 and 4 HZ. These are the brain waves linked with dreamless sleep.

2) Theta waves: these are at a frequency between 4 and 8HZ and are associated with Rapid Eye Movement or REM sleep. REM sleep is what makes us feel like our energy is replenished.

3) Alpha waves: they are at a frequency of 8 to 13 HZ and they tend to make people feel relaxed.

4) Beta waves: these are set between 14 and 100HZ and are usually linked to concentration and focus.

Binaural beats music can help lower your stress and anxiety levels, help you concentrate on work and unlock your creative potential as an entrepreneur. They also can help destress you, induce a meditative state and give you confidence and inspiration.

There is a caveat on all of this; binaural beats music is not yet widely accepted by the scientific community. However, millions of people use binaural beats across the world to help improve their concentration and productivity at work and inspire them to greater creativity.

Having used them for many years, my advice is to look on Youtube and find recordings that suit you as a person and remember that different binaural beats have different effects depending on the HZ levels.

This is one of my personal favourites for focusing on work and getting more out of each working day.

Music Playlist

Aside from binaural beats, music in general is a great way to stay positive. This is a favourite tip among many entrepreneurs; making playlists of music can help keep you focused and positive throughout your day.

Your mind may wander at certain times of the day and therefore it is important to choose the right music for different occasions. To give an example, in the morning you might choose upbeat music to give you energy e.g. Dance music, drum and bass and so on. In the afternoon, if you feel a little tired, you may need more soothing music such as ambient, classical, blues etc. If you are working in the evening you may choose something different again.

Build your playlist bearing in mind how you feel at different times of the day as it will usually differ depending on when you have eaten, how much pressure you’ve been under, if you slept well and so forth!

TIP FOUR - AN ACTIVE MIND IS A HAPPY MIND

Life is a journey of learning. It doesn’t stop when we leave school, college or university. The entrepreneur thrives on new knowledge. By reading and listening to new ideas, facts and training you keep your mind active. An active mind is a positive one because it fuels innovation and creativity in your business processes.

So what can you do? Well, if you don’t like reading, you can always get a subscription to Audible and listen to audiobooks while you workout or in your downtime.

Alternatively, you can read ebooks or old fashioned hardcopy books. Set aside a time each day for your knowledge input i.e. 30 minutes or 1 hour of reading or listening to content. This is obviously part of the Miracle Morning as well. LMB has fantastic resources for you to explore to discover new ideas in our Featured Articles and Knowledge Centre.

TIP FIVE - SMALL VICTORIES AND FOCUSING ON THE MOMENT

Two of the enemies of positivity are fear and anxiety. We can get so stressed and worked up about not achieving our goals and dreams. Therefore, I recommend that you set yourself targets for each day i.e. 4 achievable targets per day. Choose the priority goals from your workload and even better write them down the night before each day, so you wake up ready to tackle the day. Equally, be flexible to incorporate new urgent tasks which arise unexpectedly.

Try to stop your mind from wandering too much into the past and the future. Anxiety is often worrying about what might not happen or go to plan and depression is often about worrying over the past. The truly positive entrepreneur lives for today. So while it is cliched, focusing on the moment is a very positive way to achieve your optimum efficiency each day.

I hope you enjoyed these 5 tips for positivity. If you have any of your own tips for positivity, please write to me at Love My Businesses using the contact page. We always love to hear from fellow entrepreneurs!

Section 9 : A Comprehensive Guide to Blogging for your Business

Fri, 18 Feb 2022 07:25:53 GMT

Why you Should Use Blogging to Promote Your Business

By Jamieson Lee Hill, Head of Copywriting and Content and Videogame Storywriter

What is blogging?

Blogging is writing articles relating to the industry which you operate in to attract visitors to your website and develop your brand image. The idea of blogging is to offer free, valuable content that engages your target audience. It is not about being salesy, it is about building a relationship with your prospects.

Blogging is a key part of what we call the Customer Value Journey which is the process of building a relationship with potential customers. The best kind of blogs offer solutions to your prospects' problems. In answering these types of questions you build a relationship with them where your brand is the authority and expert.

Why use blogging?

For Lead Generation

“Businesses using blogs as part of their content marketing mix get 67% more leads than those who don’t.”*

Lead generation is a major reason for blogging. Well written blogs with content focused on solutions for customer problems will bring traffic to your business website. Those visitors to your website can become paying customers.

*Sources: Hubspot and Tech Client

For SEO and Ranking

“You have a 434% higher chance of being ranked highly on search engines if you feature a blog as part of your website.”*

Blogging is part of an SEO approach. As you receive more and more visitors to your blog posts your ranking will increase in search engines like Google if they stay on page and read your content. Also, as external authorities share your blog articles, you will get backlinks to your website and blog which also improves your SEO and ranking with search engines.

*Sources: Hubspot and Tech Client

To Build your Brand Authority

Blogging builds your authority as a brand and it creates trust between you and the reader. A prospect that trusts your brand and finds your content useful is more likely to become a paying customer. In the digital age, most businesses are creators of content for their own marketing as well as selling their own products and services.

The key element to remember is that your content should be authentic, relevant and engaging. Putting out poor quality content is harmful to your brand, so make every effort to produce the most useful and compelling content possible for your audiences. Give solutions to their problems.

Blogging is Part of your Sales Funnel

When a person reads your blog article, it may be the first time they have encountered your brand and business. This is what we call ‘Top of the Funnel Content’ because the blog post draws them into your sales funnel.

Your content should be linked back to the landing pages of your websites. The blog content should build your brand reputation with prospects and as part of the Customer Value Journey. The more the prospect comes to value your blog content, the greater the trust they feel. So a blog post at the top of your sales funnel may create awareness of your brand and products.

Then if they return to your blog again to read something else, your blog content may help them to evaluate whether they trust your brand and want to buy from you. This is called the Middle of the Funnel (MOFU).

Blog posts could also be included at the Bottom of your Sales Funnel (BOFU) with a Call to Action and a link to buy one of your products or services in the article.

Don’t underestimate the power of blogging to drive lead generation and sales conversions. It is such a powerful tool available to you.

Blogs Drive Long-term Success

When your prospects find solutions in your blogs to their problems, issues and challenges, you become an authority for them. This in turn builds trust and respect and they are more likely to buy from your business. So your blog literally brings them into your sales funnel on the authority of the blog content. It is like going into a shop and asking a sales assistant for advice. If the sales assistant gives you a decent answer to your question, you are more likely to buy from their store. This is why blog posts are so important for your business. They might be the first encounter a visitor has with your business online. Quality blogs are likely to drive the long-term success of your business.

Building a Knowledge Centre

A Knowledge Base or Centre is a large collection of articles which inform your customer about your products and services and issues relating to your sector. The idea is to be a veritable fountain of knowledge for your prospective customers, so that you build trust and respect and they eventually become paying customers.

A Knowledge Base is also excellent for optimising your website for search or SEO because with quality articles containing numerous keywords relevant to your sector, increasing amounts of visitors will come to your website.

A Knowledge Base is like a blog full of useful information, How to articles and content that provides solutions for your customers

Read this article by Hubspot about building your own knowledge base.

Blogging Can Lead to Inbound links

Inbound links are what drive conversions and ranking on a business website. An inbound link is a link to your website from another one. This tells Google that your content is valuable and thus your ranking in the search engine increases. The more inbound links your website has, the higher it rises up the ranking with the ultimate goal of being on the first page of Google which is the El Dorado of blogging and SEO.

Figures suggest that companies who blog receive 67% more leads than businesses that do not. That in itself should make you start your first blog today if you don’t have one. Inbound links and leads are the juice that drive your business onwards to success and sustainable profits.

What are the advantages and disadvantages of blogging?

Let’s now summarise some of the main advantages and disadvantages of blogging:

Advantages

It builds the authority of your brand and trust with your target audience. Great content shows your business as the expert in your sector.
It brings traffic to your website and that traffic can be marketed to via email marketing if you offer valuable free content (known as a lead magnet) in return for their name and email address.
Blogging can generate revenue for your business by linking posts to your products and services. You can also be an affiliate for other companies’ products or services to earn commission on sales.
Blogging is generally quite simple to do because most website platforms have an inbuilt blogging function.
It allows you to have a conversation with your target audience. Posting your blog articles to your social media allows your prospects to react and comment and get involved in your business. By replying to their comments on your blog content it builds trust and rapport and also allows you to get valuable direct feedback. You can also respond to customer service questions that arise as a result of your blog posts.
As stated before blogging can improve your Search Engine Optimisation or SEO. Over time if your content attracts more and more readers, the blog posts will start to climb up the rankings in Google and other search engines. This makes your business and brand more visible to the public online.

Disadvantages

If you are not particularly gifted at writing, even a 500-word blog post might seem like a chore. In which case you could hire a content writer to create the blogs for you but the most important factor is commissioning high quality writing to build your brand. Either way, writing good quality blog articles takes time or investment if you hire someone else. If you are a small business owner you probably do most jobs for the business yourself and time is limited anyway.
Putting out low quality blog posts can damage your brand reputation, so make sure you only publish engaging and valuable content which your target audiences will rave about.
Compelling blogging requires a constant stream of creative ideas. This can be time consuming. Obviously, one way around this is to keep your eye on trending topics and emulate the best blogs your competitors are putting out.
Blogging is usually the long game because it takes time to see the results of your efforts. You have to be patient and wait for the results. You will not usually see an immediate increase in traffic unless you manage to create a blog for a trending topic and strike it lucky!
It is not enough just to blog, you also need to promote them. This can be done by sharing them on social media and also by using paid promotion through content distribution agencies and other organisations that publish your content across the web for a fee.

If you don’t spend the time promoting your blogs, you may not see the increase in traffic that you had anticipated.

A Starting Point - The Customer Avatar Profile or Persona

Before you write a blog article you need to understand the type of prospective customers who you are trying to reach. You can use a Customer Avatar Profile or Persona to create a profile of your typical customers. You will probably have more than one profile or persona for your market. This research is the foundation of any content creation whether it is written or visual.

Whenever I am commissioned to write copy for a website, it is essential that I know all about the target audience. That way the voice and content which I create will be most effective in connecting with the intended audience. This is why I need a Customer Avatar Profile or Persona before I start writing.

Look at this Customer Avatar Worksheet from DigitalMarketer and fill it out. You need to consider their challenges, values, goals, sources of information, background and so on. Then, the content will be relevant and targeted at them.

Here is another useful resource by the excellent Marketing plaform Hubspot to use focused on Customer Personas.

Planning a Blogging Strategy

Your research should start by reading and listening to the current trends, topics and consumer desires within your niche or sector. It is important to provide blog articles which give innovative solutions to customer problems and also content which is unique, creative and engaging.

In the planning stages of our blog you should brainstorm answers to these questions:

Who is your target audience? What are the demographics of your target audience?
What are their challenges, concerns and problems?
What solutions can you offer to their issues?
What is the purpose of your blog and how will it serve your target audience?
What type of blog posts will work best for your target audience? E.g. How to articles, interviews, reactor posts etc.
What will be the style and voice of your blog? I.e. informal, chatty, serious, informative, lighthearted, etc?
What kind of images and graphics will you include and create? E.g. photos, infographics, graphs etc.
What type of company news will you share and how frequently? E.g. product and services updates, team news, innovation etc.
Who will be in charge of creating content for the blog? Will you have more than one person? Who will write the content? Who will edit the content? Etc.
Are there any topics outside of your sector which you can include for interest to draw in a wider audience?

Content Plan for Your Blogging

An effective blog needs to be well-thought out and relevant to your target audience. It is a good idea to plan at least 3 months in advance for the topics which you will write about on a weekly basis. One blog post a week of at least 500 words is a decent bar to set yourself.

As you progress, you may start to post more often and almost certainly you should try and create longer content because 1000+ words of quality content should rank well if it is relevant to your target audience and has a good variety of keywords.

Keep an eye out for those trending topics and don’t be afraid to add new blog ideas to match market trends. This is part of an Agile Marketing approach.

Lastly, I would recommend that you take a free course by The University of California Davis and Copyblogger called The Strategy of Content Marketing . It is a very useful introduction to creating content.

Headlines

The headline and the subheadings of the blog are very important. If the headline is not gripping, then they will not proceed. If you learn how to do SEO keyword research, you should also layer keywords into your headlines, subheadings and paragraphs.

A headline should be compelling, not too long and make the reader want to read on or click through. Here are some blog posts to help you with your headline writing:

Read this great blog post: How To Write Powerful Headlines by the very successful Neil Patel.
Checkout these Headline Templates from DigitalMarketer to inspire you.

Topics to Blog About

I have already mentioned that it is important to keep an eye on trending topics in your sector by reading the news and looking on platforms like Twitter. But you should also consider some of the following article types:

a.Solutions Based Blog Posts

What are the issues and problems your prospects are facing? Make a list of them and then plan blogs accordingly. These types of blog posts are like gold online. People love to read them to find out answers to challenges they are facing.

b.Tips and Tricks

Giving practical advice related to products and services is an effective way to bring traffic to your blog. Last year I wrote a blog article for a plumbing company and the article was about the main problems customers face during the winter with their heating and pipes. ‘How To’ posts can be particularly successful as people often tend to search for these.

c. Adding Value

By writing useful articles about your products and services and how to use them, you are giving value to them. This concept of added value is one of the reasons why blogs are so important for businesses. A good example is I wrote blogs for an organic sun cream company. The blog posts were all about looking after your skin and how regular sunscreen can damage your skin. It taught the customer why they should use organic products and how to protect their skin during hot weather. The blog posts added a sense of value to their main products.

d.New product launches

Whenever you have a new product or service launch, create a blog or press release and post it to your website. The language should be enthusiastic and engaging to create a sense of excitement in the reader.

e. Press Releases

Press releases can be used for launching new products and services, but also anything exciting and compelling relating to your business. It might be a community or charity event or showing your commitment to being sustainable with a new project. Whatever the topic of the press release, make sure it is clear, simple and impactful. Also, post your press releases on your social media platforms as well as your website blog.

Here are 21 examples of press releases to get your ideas going. N.B. A press release has a standard format, so make sure you learn the art of writing a press release first. The link in this paragraph offers a free press release template.

f. Trending Topics

I mentioned this before but it is so important that you stay in tune with the latest trends and topics in your sector. Then, you can create your own content relating to the trending topics. Look at the blogs other businesses are creating and emulate the best content you can find. Here are some ideas for sources for trending subjects.

g. Share Company News

Sharing news from your business can be very engaging especially if you have team photos and happy smiling faces. Positive content is much appreciated in these challenging times in the world with pandemics and wars. Show the public the caring side of your brand and you will build relationships with prospective customers.

Internal and External Links in your Blog

Internal links are links in the blog post to your own website. The reason this is effective is because you are showing your visitor the parts of the website which you want them to see. For example, I am writing this Knowledge Centre with all its articles to give value free to people wanting to run their own business and to increase our authority as a brand. During an article, I can recommend that you look at the online businesses which we offer. There you go, that hyperlinked text to online businesses is an internal link to our website.

External links are links to other websites. I have included many in this article to help you find other sources of information. This is part of our commitment to sharing knowledge to help people start their own business and to highlight some of the best content about startups and running your own company on the website.

Calls to Action

A blog without a CTA is like a bow without an arrow; you simply won’t hit the target if you don't have an arrow to fire. It is a must that you direct your visitors to take a certain action and send them to your landing pages to see your products or services. At the end of the day, although the blog posts shouldn’t be overtly salesy, the objective of the blog is to generate leads and sales. Other CTAs can be to fill out forms, subscribe to your blog or anything else to get them into your sales funnel, so you can start marketing to them.

Networking

To optimise your blog usage, you need to connect with other bloggers and influencers in your sector to arrange guest blogging and to share content on each other’s platforms. Building relationships with other bloggers in your industry can help you gain more backlinks to your website, chances to collaborate, opportunities to guest blog and to get social media shares of your blog content. Influencers are slightly different as the more well-known they are, the more likely they are to charge a fee for collaboration.

Inspiring Conclusion

End your blog posts with an inspiring conclusion. Give them a takeaway that will have them salivating and feeling all fired up. Again, this will build brand loyalty for your business and your authority as an expert.

Stuck for Ideas?

If you have a problem thinking of ideas or brainstorming creative blog posts, don’t worry. Here are a couple of links to help you out:

Check out this ‘Ultimate List of Blog Posts’ by the legendary DigitalMarketer.
Watch this video by DigitalMarketer about 5 Types of Blog Posts.

Long or Short blog posts/articles?

For many years the conventional wisdom was that blog posts should be short because people live busy lives and have short attention spans. Therefore, there is a huge amount of blog posts no longer than 500 words . However, this approach has led to a shortage of longer blog articles i.e. above 1000 words. To illustrate what I am saying I just typed into Google the following question: ‘How do I plan a blogging strategy for my start up?’

I looked past the sponsored content at the top which say ‘Ad’ at the start of the listings to the first ‘organic’ content i.e. not paid advertising. The organic content in Google ranks on the first page because it is regarded as quality content by Google. The Google algorithm determines quality by analysing blog articles to see how much traffic they get, how long people stay on the page aka ‘dwell time’, how many people share it and also the keyword phrases in the article which people are searching for and other factors as well such as backlinks from people sharing your blog posts. This particular search brought up this blog article as the highest ranking organic content: Blogging for Startups: 7 Tips to Jump Start Your Startup Venture.

I put that article into a Google Document and used word count to see how long it was. It is over 1700 words. The article is full of useful information to guide you how to use blogging for your business.

Also, the layout is well spaced out with clear headings, attractive pictures and clearly written points without waffling. Longer content over 1000 words with relevant keywords and valuable information for your target audience is destined to climb the ranking in search engines as more and more people find it in Google and elsewhere.

Emulate the Best Blogging by Competitors

Analytics is a big part of effective blogging. You should analyse the best performing content put out by your competitors in your sector. Read their content and see what they are doing well and try to emulate it. You can also read outside of your sector to see content by companies who have high levels of engagement in other industries. The important thing is to identify and notice why their blog content is so popular i.e break it down and analyze the images they use, the layout, the headlines, the keywords and topics etc.

Analytics of your Blog

Once you have a blog and you have populated it with blog articles, the important task you have in the long run is to monitor the analytics of your content. Notice how long people are staying on page aka dwell time, how many pages they read, which blog posts have the most visits and so forth.

Analytics is a discipline in itself and it shows you which content is performing well and which is not. Content that proves to be popular should be used again if it is ‘evergreen’ i.e. still relevant or create similar content to the most successful posts. Here is some information about analytics to help you get started.

Repurpose Blog Content on Social Media

Remember to use your blog content on social media. Splinter off parts of your articles and create inspiring images, captions, slogans etc for the social media platforms which you use. You don’t have to constantly create new ideas; use the topics you already have on your blog to populate your social media. Link these posts back to your blog to bring in more traffic.

Blogging and Email Marketing

It is not enough just to write your blog, you also need to promote it. Each blog post should have a CTA (Call to Action) asking people to sign up to your blog via email or to send them to a landing page with your products or services.

If they give you their email, each time you post new content you can send it to them and it keeps your brand at the forefront of their minds. However, make sure that the blog content is compelling and inspiring as there is nothing worse than email spam.

As you email your blog content to subscribers, bear in mind that your blog is there to build the brand and business as an authority and expert. It should not be overly sales, lead with value first, giving solutions to your target audience’s problems. That means you need to get down to some serious research to find out what your audiences are interested in!

What are You Waiting for?

Start today. Put the kettle on and start writing a content plan of blog articles you could write about topics related to your sector over the next 3 months. Go for it!

READING LIST FOR BLOGGING

1.Blog Marketing: What It Is and How to Do It:

https://www.thebalancesmb.com/blog-marketing-1794404

2. Use a Blog to Better Promote Your Products: https://www.mytotalretail.com/article/use-blog-content-marketing-to-promote-your-products-better/

3. 10 Reasons Blogging Should be Part of Your 2018 Content Strategy

https://blog.hubspot.com/customers/10-reasons-blogging-should-be-part-of-your-2018-content-strategy?fbclid=IwAR0afXYR8I-8z6PaeUSwHbp6nZ811HUmNBOxzp9Jq9B3MgMuZid6imcdJj4

4. An Enchanting Business Blog: https://neilpatel.com/blog/an-enchanting-business-blog/ 0

5. Why Blog? The Benefits of Blogging for Business and Marketing

https://blog.hubspot.com/marketing/the-benefits-of-business-blogging-ht?fbclid=IwAR1FqAIN2BAOkmefhSzhdHtjf-CaDZQ3k4XgcKi-_R44YtGsZJE4xRCrtws

6. The Importance of Blogging for your Website:

https://www.imsmarketing.ie/digital-marketing/the-importance-of-blogging-for-your-website/

7. How to Use a Blog to Promote Your Business

https://www.business2community.com/blogging/how-to-use-a-blog-to-promote-your-business-02288232

8. Benefits of Blogging for Your Small Business

https://openvine.com/small-business-internet-blog/5-benefits-of-blogging-for-your-small-business/?fbc0id=IwAR0jTm96kHwvuWUkqpE3WJQXV5adLD4-BUNyDsgFtxMUNK6XJ4GwNuvpMUQ

9. Blog Marketing: What It Is and How to Do It:

https://www.thebalancesmb.com/blog-marketing-1794404

10.Use a Blog to Better Promote Your Products: https://www.mytotalretail.com/article/use-blog-content-marketing-to-promote-your-products-better/

Section Seven: A Comprehensive Guide to Lead Generation for your New Business

Fri, 04 Feb 2022 10:00:58 GMT

20 Ways To Generate Leads for Your New Business

Jamieson Lee Hill, Head of Copywriting, March 2022

Leads are the cornerstone of any business. Without leads you won’t have any sales. Therefore, you need to be doing lead generation everyday to maintain a steady stream of sales. If sales are low, it is an indication that you need to increase your marketing to generate leads.

Lead generation is like fishing. It takes patience and you need to be in the right place to make a catch. Let’s look at 20 effective ways to get leads for your business.

1. Friends and Family

If you’re starting a business, ask your family and friends for referrals and to share your content on their social media and network. This is an effective way to start off because if you’re new in business. If your friends and family have their own businesses you could suggest having a reciprocal agreement with them i.e. you share each other’s business content and make referrals.

2. Word of Mouth

Although marketing and advertising are important in the digital age, word of mouth remains a very important source of leads. For an existing business, happy customers can become brand evangelists telling others about how great your business is and this attracts new clients. In the modern age, you can leverage the power of word of mouth by asking customers to tell their networks about how happy they were with your business.

3. Your Network

If you’re starting out in business for the first time, your network may be relatively small. The success of your business is largely dependent on your network. The bigger your network, the more likely you are to get customers.

You should add quality people to your network who are relevant to your business and are likely to generate leads. However, you can also add people to your network who are not in the same sector because leads can sometimes come from literally anywhere.

Doing favours for other startups can also lead to new clients for your business. As CEO of Blam Websites Grant Stain says, ‘Your Network is your Net Worth’. Blam is one of the many online business opportunities that Love My Businesses offers.

Networking may not generate direct revenue but it increases the chances of meeting businesses that do need your services or businesses that want to enter into reciprocal relationships.

Section Five: How to Market A New Business

Fri, 14 Jan 2022 10:07:23 GMT

15 WAYS TO MARKET YOUR STARTUP USING A DIGITAL STRATEGY

Friday January 28th, 2022.

Jamieson Lee Hill, LMB Content and Copywriting Manager & Videogame Storywriter

As an International Sales Manager once said to me, if you’re not selling, you need to be marketing. Marketing is the key to the kingdom. People need to know your business and products/services are there. To do that you need to ‘shout’ above the rooftops, so that people notice.

Right, now let’s have a look at 15 top tips for a small business startup and how to tackle marketing.

Customer Value Journey (CVJ)

This is a concept put forward by the leading US organization DigitalMarketer. They describe the relationship between a business and its customers or prospects as a journey or relationship that needs to be built.

The CVJ goes in stages and it is important not to be salesy early on in the relationship with a new prospect. DigitalMarketer uses the analogy that if you go on a first date with someone and ask them to marry you and name your future kids, the other person will probably run away never to be seen again.

So like dating, it is important to build relationships with prospects. One main approach is through free, valuable content that gives solutions to the problems customers have. The Value First approach is a tried and tested way to build an audience and customer base. As the prospect gets to know your company through useful content on your website and social media, a relationship of trust and familiarity will be formed. This will lead to some prospects becoming paying customers.

For more information about the Customer Value Journey you can visit the DigitalMarketer website. I can’t highlight the importance of learning this idea. It underpins the whole marketing journey for a small business.

Content Ideas

Potential customers love excellent content and Google does too. Blogging, making videos, doing audio and video podcasts, creating memes and infographics, and writing articles to send to well known websites in your sector are all effective ways to get your content out there.

Other suggestions:

Plan a campaign of social media posts on a theme related to your business.
Do 1 minute videos everyday about your business, brand and related items to build a relationship with prospects.
Contact other websites about being a guest blogger or to appear on their podcast and offer to do the same for them.
Remember that content build your authority as an expert and strengthens your brand. It is also excellent for SEO purposes because quality content will bring users to your website and social media. This in turn increases your ranking on Google.
If you don’t have the time or ability to create content, then hire freelancers that do. The emphasis should be on quality. You should avoid buying in cheap, poor quality content which has spelling and grammar mistakes and low quality graphic design. This will damage your brand and make it look unprofessional.
Refresh old content by giving it a rewrite or edit. This helps your ranking on Google too.
Also, you can Repurpose old content e.g. take a podcast interview and use the audio script to create an article or splinter a large video into smaller chunks. Think of ways you can repurpose content into other forms. It saves time and it is always wise to reuse popular content.
Evergreen content is content which has lasting appeal over a long period of time. Your best content that doesn’t age should be reposted but you should always refresh it with an edit or rewrite to help your Google ranking.

Customer Avatar/Persona Template

Understanding your target audience is massively important in Marketing. It is this research that should underpin your Digital Marketing Strategy.

Look at this Customer Avatar Worksheet and fill it out for your typical customer type. You may have more than one. Before you create content always refer to the Customer Avatar to influence your writing. Write in the voice of the target audience and consider their challenges, needs, aspirations, background etc so the content is relevant and targeted at them.

Before and After State

The before and after state is a term used in marketing to refer to the transformation that the marketer shows the prospective customer in a piece of content. To give an example if you were a company selling warm and stylish winter jackets you could focus on the before state of a prospect as follows:

Before:

Before buying a jacket the prospect feels cold in Winter and hates the rain.

After:

After the buying the customer is warm, cosy and dry. Also, they feel very confident with their stylish new jacket.

The point of the Before - After State is that people buy products and services based on emotions/feelings and not just because of the product features. Effective marketing and advertising appeals to the emotions of the target audience.

The Four Ps of Marketing or The Marketing Mix

The 4 Ps are a classic concept in marketing. Let’s look at the basics of what they mean for your business startup.

Price

You are entering the market and you want to sell as many units as possible. To gain market penetration you need to decide whether to go for a price lower than your competitors or to aim for the high end of the market. Charging a high price is called market skimming as you skim off the top of the luxury end of the market.

Do your market research about pricing by looking at your competitors and see how they are approaching it. Remember that it is okay to make a loss in the short term, but long term you need to be making a profit and covering all your costs while generating revenue. Remember that the amount you charge will affect customers’ perception of your brand i.e. either low or high quality or mid-range.

Promotion

How will you promote your products and services? Will you use social media platforms? Which ones are best for your target market? Will you use paid advertising? If so, on which platforms and how much will you spend per day, per week, month etc?

Will you do contests and giveaways to build up new audiences?

Will you send out Press Releases and harness the power of the media? (See later sections on HARO and Media)

Product

Deciding what you are selling is crucial. Will it be physical products or will you offer services such as consultation?

To determine your products and services, you first need to research the market and identify a real demand for something. It is not about selling what you like yourself; there has to be real world demand enough to sustain your new business. Part of product research involves looking at what your competitors are doing and how you can emulate their success and enter the market as a newcomer.

Place

Traditionally, this would be on the high street in a bricks and mortar shop, but in the 21st century online shopping is huge. Where will you sell? On Amazon? Shopify? Ebay? Your own website? Esty? And so on…

Again, do your research about the different platforms to sell on and decide which are best for you and your products/services. You need to discover where your potential customers go to find out information about your proposed sector. For further information, I recommend you check out Neil Patel’s article on the 4 P s. Neil is a fantastic source of information for Digital Marketing.

The Rise of Online Shopping

So unless you’ve been living in a cave for the last few years, you must have realised that online shopping is now massively popular. E-commerce has been on the rise since the mid-1990s.

With the onset of the pandemic the Digital Boom was immense. Check out these stats:

“With the rise of ecommerce , it’s only natural that the number of online shoppers worldwide rises along with it. As it stands in 2021, the number of digital buyers is at 2.14 billion . That makes 27.6 percent of the 7.74 billion people in the world . In other words, more than one out of every four people you see around you is an online shopper.”

Oberlo.co.uk , 2021

In 2021 the number of online shoppers worldwide rose by 900 million:

“The number of online shoppers has been growing over the past few years. In 2021, there were 900 million more digital buyers than there were in 2020—a 4.4 percent year-over-year increase.”

Oberlo.co.uk , 2021

At that rate of increase, online shopping is set to become even more important in the world. This is why you must take digital marketing seriously because ecommerce is here to stay. Plus, the pandemic has shown the world market that it is vital to have digital sales to survive in these times.

Social Media

A basic rule of thumb for social media marketing is to choose 2 or 3 social media platforms that are relevant to your sector. Then put out your best content and have a really effective social media strategy that is tailored to your audience. To make sure your content is appealing to your audience you need to do some social listening and listen for what people are saying in your industry, their problems and challenges, their wish lists etc and then you can design your content to offer solutions to their issues.

Paid Ads

There is sometimes a reluctance for small businesses to spend money on digital advertising. This may be in part due to the horror stories of people getting it all wrong and literally burning money on PPC ads. However, advertising done correctly can provide an immediate hit for your sales trajectory. Here are a few basics that you need to Google and learn about:

Paid Ads vs Organic SEO
PPC Ads
Google Analytics
Facebook Analytics
Cookies
Retargeting ads
Boosting your posts

A note of caution - it is very easy to burn money on Ads in Facebook, Google etc. Therefore, do your research first. Both Facebook and Google offer free training which will help you. Check out Google’s Digital Garage and Facebook’s Blueprint . If you don’t have the time or inclination to learn these skills, you can always hire a freelancer or agency to create and run paid ads for you.

SEO Organic Search

The holy grail of SEO still seems to be a mystery for a lot of businesses.

SEO means Search Engine Optimization. It is all about understanding how to rank highly on Google and other search engines. By understanding customers’ search intent you can optimize your website and social media to be picked up in search engines.

The ultimate goal is to be on the first page because for a large company that can mean millions of dollars in sales and for a small company it can mean sustainable growth and expansion.

Be warned - there is a worldwide pool infested with Shark SEO companies who promise the world and deliver very little. SEO done properly is a very involved business which needs to go through systematic steps. It doesn't happen overnight, SEO is the long game approach but it brings sustainable results and growth. You don’t usually see real results for about 3 months. That doesn't mean that you won't get lucky and get on the first page of Google for a certain set of keyword phrases sooner than that. But staying there is another matter!

A combination of SEO and Paid Ads can be very effective. Again, you will need to learn the skills of both or hire freelancers to do it for you. If you do fancy learning SEO yourself, Hubspot offer free training.

Blogging

Blogging is still a serious way to market your business and brand. Conventional wisdom was that blogs should be short and no longer than 500 words. That was because people tend to have short attention spans in the digital age. However, this way of thinking has created a shortage of longer content.

In a nutshell, if you can write some articles 1000 to 2000 words packed with really useful content, you could find yourself making your way to the first page of Google. Yippee! The Promised Land of the first page. So get writing people ! You don’t have to write all of your blog posts this length but a few big articles on key topics for your business will give you a great chance of ranking high on Google if it is quality content.

For your blog, plan ahead and outline the topics you will write about with a Content Plan. Again write about relevant topics for your industry and target audience. Practise ‘Social Listening’ before you write your blog articles i.e. go online to social media and see what prospective customers are talking about in terms of their problems, needs and their view of competitor brands, products and services.

For blogging, write about relevant topics with authority and give value first i.e free valuable content which helps solve customer problems. Then you will build trust with your audience and some of them will become paying customers.

Remember - to save yourself time and money, see what your competition is putting out there and emulate the best performing content that they are creating. This requires you to be an Analytics Detective! Which of their posts have the most engagement and why? Is it the headline? The photos? The keywords? The topics? Etc.

Avoid Half-finished Bridges

Ryan Deiss of DigitalMarketer advises against this pitfall. It basically means you shouldn’t try and do everything all at once. It is better to choose a few digital marketing strategies that suit your target audience and do them well. In doing your research you will decide what works best for your startup.

E.g. Choose 3 Social Media platforms where your target audience hangs out e.g. Twitter, Facebook and Instagram. Or just two if you prefer. The main thing is to put out great content.

Then develop a Content strategy for your social media centred around those 3 platforms. Create valuable and free content for your audience to build your brand authority and trust.

Review what you are doing each month and get into analytics i.e. analysing which posts get the most engagement - likes, shares, comments etc. Then you can repeat and emulate the posts that perform the best. But remember likes, shares and comments mean nothing without sales. In fact, we call them ‘vanity metrics’ because the real proof in the pudding is sales conversions! Remember that. It is a vital lesson to learn. Lots of followers does not always mean lots of revenue if people in that audience are not buying from you.

Email Marketing

Still a big hitter in terms of income generated. Although you hear people complain about being spammed and having information overload via email, if you share valuable content with an engaged audience you can convert a good percentage of that audience into buyers. What is a good percentage? Well, for 1000 email recipients, if you manage to convert 2% to 5% into paying customers, then those are pretty good numbers.

The key to success in email marketing is to:

Email people who are interested in your brand
Don’t leave big gaps of months between emails
Don’t email every day
Create a sales funnel where the emails build a relationship with prospects first - Nurture. Don’t be salesy at first, build a relationship.
But later send emails that are selling products and services to them - Promotion.
You can also write emails to re-engage previous customers who haven’t bought for a while.

Read this fab article about Email Marketing to get fully conversant with the process.

Community Action and Media

Connecting with your local community or creating online communities through setting up Facebook groups or groups on other social media, is a great way to connect with your target audience.

A PR approach of sending out press releases to local, national and international media outlets helps keep your brand at the forefront of prospects’ minds and is also good for your search engine ranking (SEO).

Featuring in the media is a form of free advertising that you should tap into. Consider ways that you can hold publicity stunts or hold events that will capture the attention of people.

Here are some examples:

Run a community event and send out a press release before it happens to media outlets e.g. give free products to a charity, support a local school with your skills, do a charity sponsored run or similar event etc.
Sponsor a local charity or non-profit organisation to be featured in their advertising e.g. sponsor a local charity concert.
Put your business forward or yourself for a business contest. Winning such an event will put your business out there in the media.

Help a Reporter Out - HARO

This is an effective way to get free publicity. The blurb on the website states:

“HARO connects journalists seeking expertise to include in their content with sources who have that expertise.”

You sign up via email and each day you will get various emails asking for expert sources regarding a range of topics and fields. If your skills or knowledge align with any of these, you can write and offer to contribute. If you are chosen you will be mentioned in the article or whatever the form of publication is used and your business will be listed. This can be extremely profitable if your business details end up in a national media platform.

The downside is that you do get sent a lot of emails and it is a bit of a lottery as there is no guarantee that you will be chosen. Yet if you are chosen the stakes are high and a listing for your business could lead to new customers. Check it out on the HARO website.

Agile Marketing is the Way of the Web!

In the modern digital age, it is important to practise what is called ‘Agile Marketing’. This means that you listen and adapt your marketing and sales strategies to keep up with the changes in the market. Innovation and change are the keys to survival in the digital economy.

Watch out for trending content that is performing very well that your competitors are using. Analyse why it is working so well and getting excellent engagement. Then emulate the content by creating your own.

To read more about an Agile Marketing Strategy check out articles by the organisation Copyblogger . They have tonnes of great content and run a course on the Strategy of Content Marketing which is definitely worthwhile to make your business a success.

Finally, don’t forget to focus on ways to market your brand and products/services to the local market. Of course, you can also pitch to the national and international communities but start local. Here is a fabulous blog post to get you started on Local Marketing.

Onwards and Upwards! You can do this. Become the Marketer you never knew you were. If you are not selling, you have to be marketing as my great friend and mentor Edward Van Der Kleijn once said!

PS Read more below from this fantastic list of articles on marketing....

READING LIST FOR MARKETING YOUR BUSINESS

Section Four: How to Write A Business Plan

Fri, 14 Jan 2022 09:12:28 GMT

Tips and Advice to Prepare a Strong Business Plan

Part One - Advice Before You Start Writing Your Business Plan

Writing a business plan for your startup is an integral step in the running of your company. The plan is similar to a road map for your business journey. You will map out crucial details such as set up costs, ongoing costs, the potential risks and a whole lot more. It is this foresight which will help you to anticipate what may occur and how you will respond. The business plan needs to set goals in a structured manner.

You need to follow a consistent approach meeting targets and setting new ones. Also, a well formulated business plan is more likely to help you get funding and loans for your business because banks and investors need to see that you have a sound and methodical approach.

Clear Sections in your Business Plan

The Business Plan should be organised coherently and clearly into sections. These sections should show the priority and order of actions to take and how you will implement the actions. The sections you should include include things such as finance and costs, marketing strategy, The Four Ps: product, place, promotion, pricing etc. We will go into more detail about this in part two.

Implementation of your Action Plan

The Business Plan needs to have exact goals with the responsibilities and roles outlined if you have more than one person in your business. Also, you need to set deadlines for certain tasks to be completed by:

GOAL, ROLE, DEADLINE, STATUS

Here are some examples:

GOAL: Set up social media accounts for Facebook, Instagram and Twitter

ROLE: Sarah, MD

DEADLINE: by March 2022.

STATUS: In progress

GOAL: Find a local accountant who specialises in e-commerce

ROLE: Tom, Marketing Assistant

DEADLINE: by February 20th, 2022.

STATUS: Done

GOAL: Book into a course on making videos to market your business

ROLE: Sarah, MD

DEADLINE: by April 5th, 2022.

STATUS: In progress

Prioritising the tasks is essential to allow thea business to grow in a step by step manner while mitigating the risks involved. A sound business plan anticipates unexpected costs and events that could negatively impact your business. In this way, your business is able to survive challenges and obstacles.

Reviews

A Business Plan should not be static. You should review it and update your goals and actions. Each week, month and year see if you have met the goals you set for yourself and the business and then set new goals for the quarter ahead. During your reviews you can set both short and longer term goals.

Sales and Marketing Strategy for your Business Plan

Writing a business plan is not only about securing loans and investment. It is also about getting clear about what your sales and marketing strategy will look like. Digital Marketing is vital for nearly all businesses in the 21st century and therefore you need consider how to use Social Media, Paid Advertising, Blogging, Networking etc.

A clear and coherent sales and marketing plan helps you understand your selling points and how you will market your products/services and brand to the public and/or B2B.

Tailor the Plan to Your Target Audience

The plan should be tailored towards investors and also potential customers. There needs to be definitive facts about your products, services and overall goals. The plan is not just for your benefit and your staff, but at the same time it will help you in your daily, weekly and monthly decision making.

You need to make the obstacles you will face and the solutions to them crystal clear to your audience. You also need to be frank about the competition that you face and how you will overcome this to gain a share of the market.

Workout your Profit and Cost Per Unit

It is core to the survival of your business that you understand how much profit you are making on each unit that you sell. It may be that you only breakeven or even make a loss in the first 6 months. However, it is vital to know what level of spending you will need to make money and at what point the loss leads to a profit.

In this way, you can scale your business by determining how many units you need to sell to reach profitability. You need to understand how much your overhead and raw materials costs are and whether you can maintain a healthy financial situation.

Short-term Goals and Your Background

A business plan for a startup will tend to have lots of short-term goals for the first year. As stated before, they set out the stages a new business takes. You should also list your abilities and background and how they will support the business. Equally important is to identify your weaknesses and areas for improvement or where you are unskilled.

It is fine to include a long term vision but you need to show credible plans for the short term first for an investor to take your proposition seriously.

Comprehensive Financial Da t a

It is vital that you disclose all the financial data so that investors have an accurate picture of your business. Holding back financial data or trying to exaggerate or mislead investors, banks etc is sure to lead to your proposition for funding, loans or investment being firmly rejected.

Think Big Long Term

Though the Business Plan should mainly focus on the first year, long term goals can also be included. Everyone has to start at the beginning but that doesn't mean that your business has to stay small forever. Right from the start you can have a vision of how big you want your business to grow. If you think big in the longerm, then you can set up and design your systems and processes to accommodate growth and expansion in the future.

Be Open to Ideas

This is really important especially if it is your first time writing a business plan. Seek advice from other business owners and professionals to give you feedback on your business plan and proposals. Then edit and tweak your plan accordingly incorporating the best of their ideas. However, don’t let their caution or lack of vision stop you from setting objectives which you know you can and will achieve. Finding a mentor who is greatly experienced in your industry is a brilliant idea to help you along the way.

Be Agile to Change

Life is full of change, so keep your ear to the ground and be ready to change your products and services and the way you do business to ensure survival and growth. Agile Marketing is part of the digital age. Always closely watch your competitors and notice the trends that are popular and successful and get in on the action.

Change is the norm in business. Don’t get left behind even if it means moving into areas of business you are unfamiliar with. Innovation is the key to survival.

Don’t Stand Still! Best of Luck!

Part Two: Tips For A Start-Up Business Plan

What should you include in your Business Plan?

Business plans tend to be fairly similar, but the most important difference is to write your business plan tailored to the audience who will be reading it. This is normally investors, banks or other parties who are looking to either invest or lend your company money.

A business plan should consist of:

An Executive Summary
A Business Description
Details about your Sales & Marketing Strategy (including The Four Ps: product, place, promotion, pricing).
Competitor Analysis
A Design and Development Plan for your Products and Services
An Operations and Management Plan
Financial information, Planning & factors

The Financial section should also have:

An income statement
A cash flow forecast or statement
A balance sheet

The financial information should be accurate and show the real value of your company as well as your liquidity and profitability.

Write a Bespoke Business Plan for the Target Audience

Think about who will look at the business plan and what information they will require i.e. investors, banks, potential business partners, loan or grant organisations etc. Then write the business plan bespoke to what they require. This will achieve optimum effect.

In Depth Research of your Market

Investors want specific information about your market and the potential threats and opportunities. The proof is in the details. If your information is vague and woolly you won’t get investors on board. A casing point is to look at the BBC TV show Dragons Dens and see how the investors on there are very focused on details i.e. costs, profits, revenue, future sales forecasts, potential for expansion.

Action Point - Google and check out these links for:

Both will help your business plan look more professional. Include SWOT Analysis at the very least.

Who is the Competition? Exploit their Weaknesses and Emulate their Success

This is very important for you as an owner because information about competitors who are doing well should be used to emulate their successes. Emulate, but rip off their ideas. There is an important difference. Also, if you are able to spot their weaknesses and strengths and how much of the market they control, you will be better able to analyze ways to penetrate the market and be a player in the sector.

Capitalise on what they do badly and emulate what they do well. E.g. If their customer service is poor, make sure your customer service is excellent and highlighted in your marketing plan.

If a competitor is running popular 1 minute daily videos on Instagram giving useful information to prospective customers, then do the same thing but with your own spin and content. Don’t copy, emulate!

Check the Details

As well as including everything relevant to your target market audience, you also need to demonstrate your professionalism in the way the plan is structured and written.

It is important to check and correct costing calculation errors or any other mathematical errors. Also, look out for spelling and grammar mistakes because this could reflect badly on your brand. Financial facts must be accurate and you could employ help e.g. an accountant, to manage this.

Finally, be clear that your forecasts and predictions are based in reality with solid figures to back up what you write. If you write completely unrealistic targets and goals, you will destroy your business credibility.

Opportunities for Investors

You should focus on what opportunities your new business gives to investors. They need reasons to invest and see that their money will grow. This could include any paperwork for any new deals with other businesses to supply them with your products or services that you have lined up. Or it could be a massive endorsement from an influential person that will affect sales, or the winning of a licence or contract with a major international company and so forth.

Whatever information you have to show the potential growth of your business needs to be there on the business plan. It needs to be spelt out clearly to investors, so that they see there is an opportunity to get a return on their money.

Start with a Strong Executive Summary

This is the most essential part of your business plan. It should be impactful and compelling. The proposals and forecasts need to be realistic and not too far fetched. The best idea is to write the Executive Summary after you have finished all other sections as it is a summary of everything else.

Review By a Consultant

If this is your first time writing a Business Plan or if you don’t feel confident, then pay for an accountant or Business Advisor to review your plan. They will identify any weaknesses or gaps in your proposals. Also, ask your friends or contacts within your business network to review it.

Summary

A sound business plan is vital to the long term development and longevity of your business. Don’t be put off by the typical chatter about most businesses failing in their first year. That doesn't need to be you if you have a comprehensive and well-thought out plan of action.

Don’t forget that a Business Plan is not static. You should review and update it. Also, it is a measuring tool for the performance of your business matched to your goals and objectives.

A successful Business Plan will keep you on the right track to success and mitigate risks and uncertainties.

Good luck! Get out there and shine!

Jamieson Lee Hill

READING LIST: BUSINESS PLANNING

This is a list of quality articles to help you expand your ideas before writing a business plan.

Section Six: 12 Sources of Finance For Your StartUp

Sat, 01 Jan 2022 10:15:33 GMT

How To Fund A New Business Startup

By Jamieson Lee Hill, Head of Copywriting at LMB and Videogame Storywriter

Financing your business is an essential part of setting up and maintaining your startup. You need to be able to cover all your costs and breakeven in the early stages of your company before you start to make profit.

I am sure you have heard the horror stories of new businesses going out of business in their first year due to a lack of funds or an inability to breakeven. It doesn't have to be like that if you carefully plan your business with a coherent and well thought out plan as we saw in section 4.

Also, a solid foundation of funding will preserve the long term health of your business venture. Let’s explore a number of ways to finance your new business:

Family and Friends

If you have willing parents or other relatives who want to support your start up, this could be a decent option. With family they may be flexible about when you have to pay it back which takes the pressure off you in your first year. Also, they may not expect you to pay them back.

Whatever your arrangement, be warned that there is a negative side to family financial support. If the business doesn’t work out and you struggle to pay your relative back, this can really sour relationships. Likewise with friends. Personally, I would never ask a friend for a loan because I have learned from experience that you can easily get into hot water. In my case, I loaned money to a friend to help his business and I never saw him or the money again. But it depends on the relationship you have with your friends.

Do it Yourself

Self-funding is the choice for many start-up owners. Digging into your savings means that you don’t have to worry about paying back loans at a percentage to banks or other financial institutions. However, you don’t want to use up your savings until you are really certain that you have a viable business plan. So make sure you do indepth research before you start transferring funds.

Alternatively, if you don’t want to touch your savings, you could sell off some personal assets that you can go without e.g. Do you really need your summer motorbike considering you will be really busy now with the new business and you already have a car? Could you get your old laptop, bike or other objects fixed and sell them on for a profit? You would be surprised at the sale value of items you have in your flat or house which are just gathering dust. Your excess belongings could be someone else’s treasure.

Investors

Two of the most common types of alternative funding are angel investors and venture capitalists. Investors often prefer investing in innovative startup firms specialising in technology and science. However, if you have a sound business model and plan with a potentially lucrative product/service proposal, you may secure investment for your venture.

Angel investors are wealthy individuals who put their own money into new companies for a share of the business. Venture capitalists are employees of Risk Capital Companies who are looking to invest money belonging to other people into ventures .

Venture capitalists invest in exciting startups with a great potential for high profits. If your startup has a strong likelihood of success in future you may be able to get a VC to invest.

With an Angel Investor, you need to show them clearly how they will make a profitable return on their investment and be very careful to read the terms and conditions of your agreement. If they are taking 30% of your business, what does that 30% include? Does it also mean any PAYE jobs that do during the contractual period? Or is it just 30% of profits by the company? Read the small print and be very clear about what you are signing up to. This happened to a friend who secured investment for his business from an investor on BBC Dragon’s Den Internet Show! See the last section for more about this.

Back up the valuation of your startup with real world sales forecasts and projections. Also, don’t count on an angel investor being in it for the long term. They might just be an early stage investor who wants to put in money and earn it back with interest and then withdraw it. They may not be looking to be a long term business partner with your firm.

Government Startup Loan and Grants From Organizations

A government startup loan can be a very effective way to get your business off the ground. However, you will need to prepare a serious business plan to show them how your business will be successful. A startup loan can be anything from £500 to £25000 in the UK or whatever the equivalent amounts are in your country.

The main difference between a government startup loan is that it is not secured like a business loan where you need to have capital assets to secure the loan e.g. your flat or house. Government loan schemes will also usually give you free support and advice to help you write the business plan and a free mentoring scheme in the first 6 to 12 months.

For a government startup loan you will need to be a resident in the country and over 18. Also, the business will probably need to be less than 2 years old to qualify. Most government loans are set at a fixed rate of interest, although it may differ depending on the country you live in. In the UK you have to repay the loan within 5 years.

For more information about government loans please visit the following links:

Business Grants and Funds

An alternative to a loan is to apply for a grant. You may qualify for a grant or fund if you fall into a certain category i.e. coming from an underprivileged economic background, refugee status, disability, gender based etc.

Grants are also given in certain niche areas that governments and organisations want to encourage growth in e.g. the alternative energy sector, technology and innovation, architectural interest, heritage projects, medical innovation. Here are some useful links for you to read through:

Small Business Loans from Banks

You may be eligible for a bank loan. However, your finances will need to be in a good state of affairs. Banks will only loan money to businesses if there is credible evidence that you will be able to pay the loan back or that you have capital assets to secure the loan.

If you have a bad credit history, then you are unlikely to receive a loan from a bank. As before you will need to write a very well researched and well presented business plan with clear goals and forecasts for sales, costs, profits and so forth.

Seed Capital

Seed capital is the investment or initial capital used during the setting up of the business. The finances may come from friends, families or the partners themselves. Seeding is much more than just the basic set up costs for your office or premises. Seed capital is the finances needed for product development, market research and early stage actions.

The seed capital is basically used during the research stages to help develop the product or service to the point where you can get venture capitalists or similar investors on board. In your business plan, you should clearly map out how the seed capital will be used and the steps taken. Seed capital is similar to a loan as you may have to pay it back and it helps finance the business during the early stages of starting up.

Finance Lease

In a similar way to HP, this is a good way for a SME to save money during start up. The asset is leased over a period of time and not bought outright. It is suitable when a business only needs an item for a short period of time.

The business does not pay an upfront fee or the complete value of the product. The monthly payments only cover the asset’s worth during the specified time period of the lease.

A lease is useful for larger assets such as machinery which your company only needs in the short term. Also, you don't need to include a leased item on your account balance sheet because you don’t own them as a capital asset. However, you can record the lease charges in your costs to reduce your tax bill.

Business Competitions

Business Competitions are a potential way to raise funds. The winners will often bank a large amount of money and PR, support and advice from a large organisation. There are numerous competitions offering money prizes from small to large sums to innovative startups and companies that are in their early stages.

The best thing to do is to search Google for Business competitions for Startups. Here are two to get you started if you live in the UK or USA:

Start Up Competitions to Fund Your Business UK

Start Up Savant Competitions USA

N.B. Check the rules and regulations for each competition as they are usually aimed at different sectors, varying categories, age groups, economic circumstances etc.

Crowdfunding

Increasingly popular, crowdfunding is a way of raising money by asking the public to give donations to realise your start up idea. Your idea needs to be innovative and capture the imagination of the public and then keep them engaged as you show the development of your business idea.

Crowdfunding platforms allow you to pitch your idea to thousands of investors on the internet. Here are some of the leading Crowdfunding organisations:

Indiegogo
Kickstarter
SeedInvest
Crowdfunder
CircleUp
Patreon
Wefunder
GoFundMe

With a crowdfunding business start up, investors will often be given an equity share of the company’s future revenue in return for their funding. Crowdfunding can be a very cost effective way to raise funds because not only can you attract funds from a wide range of people, it also means that you have an engaged audience before you launch your products and services.

If people have an equity share in your business, then they are also likely to share content about it on their social media and tell friends! All in all, crowdfunding done well can be a winner.

Reflections - Things to Keep in Mind about Funding your Startup

Funding can often be secured if you have a comprehensive and well thought out business plan with clear goals and action points. Show banks or investors that you mean business with your plan. If you don’t have clear goals and approaches, you are unlikely to instill faith in others. Similarly, you need to demonstrate to investors and banks the risks involved.

Planning how to fund a business is a serious undertaking that requires methodical thought and application. As a small business, you may seek more than one source of funding over time. The main thing is to calculate your revenues and expenses and be certain that you can stay afloat. Build relationships with investors and banks based on mutual trust and openness. Ensure that you have your finger on the pulse of profit margins and keep a close eye on overhead costs and unexpected costs.

Equally important is that when you make a valuation of your startup that you support your assessment with real sales forecasts and projected costs to show to banks and investors.

The secret to financial success in the modern day business world is to be a thriving generator of innovation and creativity. Those businesses that do not innovate and move with trends are likely to be left behind. Unless of course your market is fairly static and your product simple e.g. a local cider producer that has had steady sales for years and has no need to advertise as all the customers come by word of mouth.

If you are seeking investment for external sources of funding, you should show them how you have also invested your own money in the project. When you draw up a contract for investment be very careful to read the terms and conditions clearly before you sign anything. A friend appeared on BBC Dragons Den years ago and managed to secure funding from a Dragon. Later he pulled out of the deal as what he had signed up for basically gave 40% of his earnings from his PAYE job to the dragon as well as 40% of the company. This was not clear during the internet TV Show. So read the small print and be sure you understand what you are getting yourself into by accepting investment into the business.

It goes without saying that you should be financially sound and stable before applying for investment opportunities. If you have massive personal debts, you are unlikely to attract investors as they will perceive you as a high risk. By compiling financial reports you can demonstrate to investors that you are financially stable and a safe prospect.

Also, you need to show evidence that your business is ready to accept investment and take action with it immediately and make effective use of it. Without a clear action plan and goals for what you will do with the investment, you are unlikely to persuade an investor to come on board.

Which source of funding is best?

To echo my earlier advice, it may be that you have more than one source of funding. Whichever way you choose, the important consideration is the growth and financial security of your business. Also, don’t select a source of funding that is going to cause you intense stress that will impact on your mental and emotional health.

So be comfortable with the funding method you have chosen, instead of worrying about unfavourable terms and conditions from an investor or an angry family member or friend who is demanding their money back, select a safer method that suits you.

Measure the Metrics

No matter the source of funding, most of them have pitfalls that could affect your business if you fail to meet commitments or agreements. Therefore, it is important to keep your eye on your growth targets and watch how your cash flow predictions and sales forecasts are performing.

Also, watch your debts and settle negative balances as soon as possible so that you don’t damage your business relationships within the supply chain for invoices that your business owes. Nobody likes a late payment. Equally important is to keep an eye on your profit margins. Are the business deals you are pursuing making enough profit to be sustainable?

Don’t be too proud to ask for help from family if they are in a position to help out. If you don’t like this idea or it isn’t an option, a bank loan could be the safest option or if you have a sound business plan you may be lucky enough to attract external investment. However, angel investors will need to see a strong potential for decent profits to invest and gain a share in your venture.

If you meet the criteria for a government start up loan or a grant, this is also a potentially safe route for funding your new business!

However you fund your business, we wish you the greatest success in the world!

P.S. Please add your ways of funding your business in the comments below.

P.P.S. Massive thanks to my intern team that helped with the research for this article - Sophia, Mary, Paulyn and Trisha.

READING LIST FOR SOURCES OF FINANCE

https://www.entrepreneur.com/article/270556
https://www.forbes.com/sites/brentgleeson/2013/08/29/4-realistic-ways-to-fund-your-small-business/?sh=3e29867b40be
https://www.forbes.com/sites/brentgleeson/2013/08/29/4-realistic-ways-to-fund-your-small-business/?sh=3e29867b40be
https://quickbooks.intuit.com/r/finding-funding/12-different-ways-to-fund-your-small-business/
https://www.forbes.com/sites/rhettbuttle/2020/09/30/five-common-ways-to-fund-a-small-business-beyond-personal-savings/?sh=2a9c6035fae0&fbclid=IwAR13Eo5KHS_WU4Zl_QATModD6UHwI5EIkhYrwo70Y8WJHBOpBDBScNbLT7c
https://www.entrepreneur.com/article/369148?fbclid=IwAR2nDfGmHM0srOEnITkHkE4zxPOlQ0J32BktWpp9KXb3lkF1SkUlyUiWKcQ
https://www.growthink.com/content/5-most-common-funding-sources?fbclid=IwAR1_814WUhBZXYeKC5My30MBWX0q5pM5sWxZKGHT2rg0xgRAVW3gq1am92s
https://www.bidsketch.com/blog/resources-and-tools/financing-sources-business/?fbclid=IwAR25otJw9a_iISs-hEMNHqgYN5b3iqtZjwMvW3Uej-DebpazP-B01ud_Lek
https://entrepreneurhandbook.co.uk/sources-of-funds-for-business/?fbclid=IwAR1spZCrte6IAHvQ7EqG8r-TAnOyvxJHKpHg1s58xxQX1VfS-KTS9RLjinA
https://www.startupdonut.co.uk/financing-a-business/10-options-for-funding-your-small-business?fbclid=IwAR0FeFddCZTPacd0QJwudIHwRei8I7ekImysCZeix9ktp2OCzLeiktTB0tA

Section Three: How To Choose the Right Business Structure for your Startup

Sun, 07 Nov 2021 13:49:48 GMT

The Things to Consider When Selecting a Legal Structure for your New Business!

Knowledge Base Section Three: How to Choose the Right Business Structure

Introduction To the Types of Business Structure

Choosing the right legal business structure for your venture is one of the most important decisions that you will have to make. The impact of your decision will affect the taxes you pay and it will also determine the type of documentation that you will need to supply to the government and tax office. It also has a bearing on personal liability and the ability to raise funds and investment.

It is possible to re-organise a business structure if you decide to go in a different direction, but it is better to get it right from the beginning to avoid unnecessary headaches.

Let’s take a look at the different types of legal structure for your business:

Types of Business Structure

Sole Proprietorship

This is the basic structure for a business. It is one person owning and running the business. If you prefer to work alone this is a good choice, but it means you are personally liable for the company’s liabilities. This type of model is fine for a small business such as a gardener or arts and crafts, but not suitable for businesses that are more involved.

Advantages and Disadvantages of a Sole Proprietorship

Advantages

Easy to Set Up: It is very quick and simple to start and perfect for a one person, small business.

Low on Paperwork: There is very little paperwork involved because you are the sole owner and member of the business without executives or shareholders.

Low Cost Set Up: It is inexpensive to start this type of business and you only have to pay licenses and taxes.

Tax Benefits: As a small business owner and sole proprietor you may be entitled to tax breaks e.g. health insurance deductions. Also, the tax for a sole proprietor is much simpler to do than a limited company.

Easy to Shutdown: You can dissolve your business at any time and there is no paperwork required.

Disadvantages

Funds: Raising funds can be problematic because banks and other organisations are more cautious about lending to sole proprietors. That means you have to use your own savings or turn to family or use your house as equity.

Status: Some companies won’t work with you as sole proprietor including those involving government contracts who may only work with limited companies.

Unlimited liability: That means if the company goes under, your personal assets could be in danger of being acquired to pay off the debts or you may have a legal claim against you. This is why many startups prefer to open a limited company instead, as then the company and you personally are two separate entities. This protects your personal assets e.g. your house, car etc

2. Partnership

This option is best for a company which will be owned by a number of people. A partnership can be two or more people. The two types of partnerships are: General Partnerships and Limited Partnerships

General Partnership

The company is managed by the partner and they are responsible for all legal and financial responsibilities and the day-to-day running of the business. All profits are shared equally in this form of partnership.

Limited Partnership

With a General Partnership, the owners run and manage the business being responsible for all duties, but a Limited Partnership is when the partners are the only investors. They have no authority over the company and they do not have liability for the company’s debt and legal duties. One partner is in control of the company and the partner (s) puts money into the venture and receives a share of the profits.

Advantages and Disadvantages

Advantages

A General Partnership is a lot easier to set up if there are two or more partners who want to be active running the business.
Setting up a partnership gives you a favourable tax status because a partnership does not pay tax on earnings. Also, losses and gains are absorbed by the individual partners.
Each general partner is authorised to borrow money, formulate decisions and take action on behalf of the company which may affect all partners. The limitations of what a partner can or can’t do are set out in the partnership agreement.
A business loan and the potential for expansion is more possible with more than one partner. This is because banks will possibly give more credit depending on the number of partners. This is especially useful if one of the partners has a poor credit score, so the other partners may take out loans to grow the business.
General partnerships still submit tax returns, but they don’t pay income tax. This is because each partner files their shared losses or gains in their individual income tax returns.
Each partner provides the company with their own specialist experience and knowledge to benefit the business. This means the partnership may have a wealth of knowledge and experience between the partners.

Disadvantages

Because of all the needed paperwork and administrative difficulties, limited partnerships are often not the ideal solution for a new business unless you intend to have a large number of passive investors.
Partnerships are more expensive to set up than sole proprietorships because of the legal and accounting services that are required by law.
General partners, like sole proprietors, have personal liability for any debts and responsibilities.
There is a potential for disagreements if one partner has greater experience and wants a large percentage of the shares. However, if you invest more capital, then this is only fair that you receive more of the profits.

Famous Partnerships

One of the most famous partnerships is that of Google Partners Larry Page and Sergey Brin. They invented their own search engine and it later became a global brand. They both met while at university in Stanford and after working on their Phds they created the beta version of Google. It was not long after that when they managed to attract $1 million in investment. Their networth at 16% amounts to a shared $121 billion between the two.

Other famous partnerships include Microsoft, Warner Brothers, Hewlett Packard, Apple, Ben & Jerry’s and Twitter.

3. Corporation

Forming a corporation means that the company has a separate legal entity to the owners. It also means following corporation laws and tax duties. Therefore, it requires hiring an accountant and possibly a legal advisor at times. There are a number of different types of corporations.

Types of Corporations:

C corporations are owned by shareholders. They are regarded as separate entities for taxation purposes. An example of this type of corporation is Morgan Chase & Co, a multinational investment bank and financial services company. There is no limit on the number of investors, so a lot of large corporations use this model e.g. Amazon, Apple etc, as this tax model suits their purposes.
S corporations are particularly suited to small businesses and they avoid double taxation in a similar way to partnerships or LLCs. Owners have limited liability protection. S Corporations do not have double taxation and net profits go to shareholders who pay their own taxes. Sole proprietors and members of LLC are subject to employment tax on net income, but S Corp shareholders only have to pay employment tax for the compensation of their services. Some expenses for staff and shareholders can be recorded as business expenses.
B corporations, aka ‘Benefit corporations’ are for-profit entities created to have a positive influence on society. A classic example is the Body Shop which is dedicated to environmental and social goals and is active in campaigning for animal and human rights etc.
Closed corporations are usually managed by a few main shareholders. The shares are traded publicly and have limited liability protection. Also, they have more flexibility than publicly traded companies and are sometimes called ‘privately held companies’.
A Hobby Lobby is a closed corporation which is essentially a privately held, family-owned venture. Stocks go to family members and are not traded in public.
Open corporations trade in the public market; big name examples include Microsoft and Ford. Open corporations have ownership of the company and anyone is able to invest.
Nonprofit corporations are formed to help others in some way and they receive tax exemption. Big name examples include the Red Cross, Age UK, the Salvation Army, Kickstarter, the American Heart Association and Red Cross. The main purpose of a non-profit is not to focus on profits, but instead on helping a particular group or groups of people, wildlife, environment etc.

Advantages

Corporations provide the owner(s) with liability protection as the company is separate from their personal identity and assets. The corporation’s debt is therefore separate from the owner’s debt which effectively means that your house, car etc are safe from administrators should the venture fail.
Corporations can hold onto some profits and reinvest them into the business which lowers the tax band which they have to pay.
To raise funds a corporation can sell shares to the public. This is something football clubs in the UK practise when they need an injection of money into the club.
Corporations live on after owners and major shareholders die because they are legally separate from their personal identities of the owners and shareholders.
Income and losses from a S corporation are passed through to shareholders and are reported on their individual tax returns. As a result, there's just one level of federal tax to pay.
S corporation owners who do not have inventory can adopt the cash method of accounting, which is less complicated than the accrual approach. Income is taxable when it is received, and expenses are deductible when they are paid, according to this technique.
Limited liability. Stockholders are not personally liable for claims against your corporation; they are only liable for their personal investments.
Investment: S Corporations can have up to 100 stockholders in a S corporation which means that they can have more investors and gain more injection of cash.
Continuity: Corporations are not affected by death or the transferring of shares by its owners. Your business continues to operate indefinitely, which is preferred by investors, creditors and consumers.
Capital: It's much easier to raise large amounts of capital from multiple investors when your business is incorporated.

Disadvantages

The set up of a corporation is more expensive and complex to other types of businesses.
Corporations are incorporated according to government or state laws. You can hire a lawyer to advise you but it is important to understand your legal and financial obligations.
Because of the complexity of a corporation, it means far more accounting and tax filing is required.
Corporation profits are taxed for each partner rather than just once.
Corporations have to pay both federal and state corporate income taxes in the USA. In addition, shareholders’ revenue i.e. dividends, will be taxed on their personal tax returns.

Limited Liability Company

An LLC is a hybrid entity that combines the best aspects of both partnerships and corporations. Referred to as ‘Lacs’, they have been around since 1977. They were created to allow owners the same liability protection as corporations but without having to pay double taxation. The owners' profits and losses go to them directly and they then file their own tax returns.

The amount of shareholders is unrestricted for an LLC and any member or owner is allowed full participation in the company's operations. Articles of of incorporation have to be filed and like partnerships, LLCs have a finite duration.

Limited Liability Company

Advantages:

There is Limited Liability as the personal assets of members are not at risk with the company’s debts
Simple Operations: For an LLC, there are not many restrictions on profit sharing and members can allocate profits as they choose. The main thing is that LLC members may give different amounts of capital investment and time to the LLC.

Disadvantages

Limited Lifespan: When a member leaves the LCC, it is then dissolved. The other members can then decide if they want to form a new LLC or end their collaboration.
Agreements: An Operating Agreement drafted by a legal team defines the duties and roles of the members and management.
Self-Employment Tax filing: LLC Members are regarded as considered self-employed and have to pay their own tax contributions. The total net income of the LLC is liable for taxation.

Cooperative

A cooperative or co-op is a business that is owned and run by a group of people and its services benefit the company members. The Co-op members vote on the direction and running of the business and they also take a share of the profits. They have to select a business name which identifies whether the co-op is incorporated or limited.

Advantages:

Lower rate of taxation: Similar to an LLC, a cooperative doesn't have to tax its members for their income.
Increased Funding Opportunities: Cooperatives may be able to apply for government startup grants.
Discounts: Cooperatives can use their size to get discounts on products and services for all of their membership.
Easy To Set Up: all you need is 10 people and the legal regulations are fairly relaxed with simple registration.
Democratic: it is based on democratic management and all members have an equal vote.
Limited Liability: personal assets of members are not affected by the debts of the co-op.
Stability- A co-operative society has a separate legal existence. It is not affected by the insolvency, mental instability, death, or permanent incapacity by any of the membership. It is relatively stable and tends to last for a long time.

Disadvantages:

Choosing a business name to specify if a cooperative is a corporation, such as incorporated (Inc.) or limited, can be problematic because everyone in the co-op needs to agree on the name.
Limited Resources: The financial strength of cooperative societies is because of limited supply of capital due to the low return on capital invested by members.
Incapable Management: too many cooks can spoil the broth and there may be lack of management experience in a co-operative as it tends to attract part-time workers and not experienced managers. Also, the limited ability to reward workers does not appeal to experienced managers.
Motivation: A cooperative society is formed for the mutual benefit of the group and individuals are not rewarded for their individual effort. Therefore, members may be unmotivated to give everything to the cause.
Arguments: Group conflicts can occur among members after the initial novelty of the co-op wears off. Selfish members may dominate and discord ensues.
5. Rigid Regulations: Governments exert rigid regulation and control over co-operatives. Accounts have to be checkd by the Co-operative Audit Department and accounts must be filed to the Registrar. The regulations can negatively affect the efficiency and flexibility of the co-op.
6. Lack of Competition: Co-ops don’t tend to have much competition with guaranteed markets to supply which can lead to a downturn in the efforts of the members.
7. Secrecy: Cooperative business affairs are openly discussed and any member can check the business records, which means it is very hard to maintain secrecy for the business.
8. Corruption: typically co-ops attract corruption within its membership and management.

THINGS TO CONSIDER WHEN CHOOSING YOUR BUSINESS STRUCTURE

Flexibility

Consider your business goals and plan; which structure aligns best with what you want to achieve. Make sure that the legal structure is flexible enough to make changes when you need to.

Simple or Complex?

Sole Proprietorship is the simplest and easiest to set up, but funding can be an issue. A formal legal agreement is required for a partnership.

Taxation

For limited liability companies and corporations there are strict government and statutory requirements to follow in each country, whereas a sole proprietorship is much simpler. Usually an accountant is necessary for limited companies and corporations.
An owner of an LLC pays taxes just as a sole proprietor does: All profit is considered personal income and taxed accordingly annually.
Individuals in a partnership can claim their share of profits as personal income. It is possible to do quarterly or biannual payment to minimise the effects on your tax return.
Corporations file their own tax returns annually and pay tax on profits after costs have been deducted.

Liability

A sole proprietor is responsible for all debts and could lose their personal assets. A corporation has the least personal liability because it is the organisation that can be sued or asset taken if it goes bankrupt without any personal assets being sold.
An LLC is similar to a sole proprietorship for protection and tax benefits. Partnerships share the liabilities between the partners depending on the legal agreement when the company was set up.

Control

If you want sole control of the business, the best options are a sole proprietorship or an LLC.
A board of directors has control over a corporation.

Capital Investment

Corporations can attract funding more easily than sole proprietorships.
Sole proprietors can only get funds via their personal account by taking out loans or credit.
LLC’s owners do not need to use their personal credit or assets.

Licenses, Regulations etc

Investigate what licences, permits and any legal regulations that your specific type of business has to adhere to. Of course, the simplest type of business is a Sole Proprietorship in that regard, but it may not suit the type of contracts you are looking to get i.e. some government funded organisations may only work with companies with limited status.

END OF SECTION TASKS

Which Business Structure will you choose?
What are the advantages and disadvantages of this structure for your business?

THAT IS THE END OF SECTION THREE!

Section Two: What are the Characteristics, Skills and Abilities Needed to be an Entrepreneur

Tue, 14 Sep 2021 15:19:01 GMT

SECTION 2: WHAT ARE THE CHARACTERISTICS, SKILLS AND ABILITIES NEEDED TO BE AN ENTREPRENEUR?

THE TOP CHARACTERISTICS, SKILLS AND ABILITIES OF ENTREPRENEURS

By Jamieson Lee Hill, LMB Content Writing Manager

Introductory Task: Before You Read

In this second section, you will read about the characteristics needed to be an entrepreneur. Here are two tasks before you begin reading:

1)Before you start reading, write down 5 qualities and characteristics that you think you have.

2)Also, write down 5 other characteristics which you think are important to be an entrepreneur.

The Characteristics of Successful Entrepreneurs

There is no set formula for success and each person has their own attributes, but research has shown that entrepreneurs have certain similar attributes. Entrepreneurs can fall into some of the following categories:

Examples of Entrepreneurs

Online business owners - e.g. online businesses, bloggers, e-commerce, or
Home-based business owners - running a business online from home which has become more common during the pandemic
Investors - they create their ideas and then pitch them to the market and they also may invest money in other startups and ventures.
Small business owners - this is the backbone of any economy and provides a source of employment for people in many countries as well as providing goods and services.

1.Creativity

It goes without saying that creativity is a core characteristic. Creative ideas leads to innovation and at the heart of any successful business is innovation. Coming with solutions for problems with products and processes is what will keep your business going strong. Creatives consider the global overview of things and are able to see new ways of doing things. It is about noticing the links between things and realising innovative solutions and pushing the boundaries. Sometimes called lateral thinking, thinking out of the box or blue sky thinking entrepreneurship is about thinking of better ways to do things to improve productivity and optimise the company.

The concept of having ‘no time’ where you reflect on the existing processes in your business is something that many of history’s great thinkers have subscribed to e.g. Einstein, Steve Jobs, Mark Zuckerberg etc. Having a few hours each week where you effectively just reflect and think can help you find new inspiration for the way you run your business. That ability to go with the flow and get in the zone of creativity. In today’s competitive world, the entrepreneurs who are able to create new and better ways of doing things are the ones who reign supreme.

TASK

How Creative are you and what kind of new ideas do you have? Do you allocate a few hours each week to think and reflect i.e. to schedule no time?

2.Work Ethics

Being reliable and following basic work ethics is core to the entrepreneur. The work ethic is all important so that you apply yourself to working consistently each day. Without discipline a business is doomed to fail. Being reliable to clients and keeping to deadlines is essential to build trust and long term relationships with your customer base. Self-discipline is about controlling your emotions and mind to get the work done and meet your deadlines and stay on task. Wasting time on social media chatting to friends and family is one of the bug bears of the entrepreneur. You must be able to structure your working day and set yourself a schedule using tech tools such as Google Calendar.

Success is the product of hard work and it cannot be reached overnight. Behind every successful entrepreneur is hard work over a long period of time. Drawing on your passion and drive will keep you focused. Entrepreneurs are often the first to arrive at work and the last to leave. They will even work weekends, evenings (or even all night) and when on holiday to complete tasks. They tend to be thinking of work even on vacation. However, this can obviously be a detrimental thing and perhaps the ability to switch off from work is better for your mindset and your family.

To run a small business, you need to have the focus to complete the important tasks each day. At the same time, delegating is important too. A business owner needs to master themselves and self-control and take responsibility for all aspects of their venture. But also know when to delegate tasks to others. Successful entrepreneurs form positive habits because routine actions are at the route of success. It is all important to remove distractions and develop/follow strategies and plans to realise your targets.

The entrepreneur is a strange beast, a natural leader who inspires others to action. It is about being fit and strong to be able to deal with the workload and to work for long periods of time to get things done. The entrepreneur needs to focus on speed and not perfection because if you take too much time on tasks you are not going to become wealthy and successful. That doesn't mean you cut corners but you are time efficient and work within set parameters.

Key takeaway: Speed not perfection!

3.Risk Taker

Pushing the limits and taking a chance is what embodies the spirit of entrepreneurialism. Greatness and unique discoveries were not invented by people staying within their comfort zones! Entrepreneurs take risks and invest their money into ventures but they always have a plan B in case things go pear shaped. In that sense, it is not reckless risk taking.

Risk Taking allows their business to grow and develop. At the heart of victory is risk taking; you have to grab life by ‘the you know what’ to reap the rewards of opportunities that come your way. Nevertheless, risk taking is not done without forethought; it is important to evaluate all of your risk taking. Knowing the consequences of your actions and planning in advance are key attributes of the entrepreneur; all the time staying focused on the target you have in your head for success. If you do fail, you must take it as part of the learning curve because behind most successful entrepreneurs are failures as well as successes.

4.Persistent and Motivated

Motivation and passion are what drive the entrepreneur to victory; their love and passion for the cause is what keeps them going when others may quit in the face of adversity. Hard work and motivation go hand in hand with passion; let enthusiasm light the fire of your inner goals to succeed. Each day, step by step, develop a positive mindset to all that you do. Positivity is infectious and it will rub off on others and inspire customers and colleagues alike.

Part of the process of motivation is to set small achievable goals which work towards larger more expansive goals. Entrepreneurs adore their work and put in long hours to reach their targets. As Elon Musk says, the passion to succeed must go way beyond money. It is love that drives the entrepreneurial spirit, not just focusing on how much wealth you can acquire.

Passion and a strong work ethic go hand in hand; those with a work ethic are focused on running their company properly and professionally and the passion is the power that drives the engine of their success. Entrepreneurs thrive on their victories but then move onto their next project because the passion endures and drives them on to more victories.

Perseverance and persistence are natural byproducts of passion because it inspires the entrepreneur to hit their targets. This helps the entrepreneur develop a steely mentality where they never give up despite the setbacks and disappointments.

5. Ability to Plan and Strategise

Success is not a pot luck in most cases. It is the result of careful planning and strategies to make the business thrive. Therefore, the entrepreneur needs to have the foresight to formulate strategies for success in every aspect of the business.

6. Knowledge of your Sector and Yourself

Knowing the industry you are working in is a no brainer because you are unlikely to be able to solve problems that SMES endure without that knowledge. This means staying updated with the latest trends and news. So read, consume and learn! You also need to ‘Know Thyself’ as was written in temple of Socrates in Ancient Greece. Understanding your strengths and weaknesses will help you to operate at your most efficient.

7.Global Foresight and Overview

Effective entrepreneurs need to understand the global marketplace as well the domestic markets in their own country. Using methods such as PESTLE analysis and SWOT analysis an entrepreneur can plan and prepare when trading in the global economy. Different countries can bring up different opportunities and varied problems.

PESTLE is a Business Management theory which analyses and predicts factors within a country you are trading in:

Political factors
Economic factors
Social factors
Technological factors
Legal factors
Environmental factors

SWOT analysis is about looking at the global and domestic markets for:

Strengths and weaknesses
Opportunities and threats

An entrepreneur needs to grasp the fact that different countries mean cultural differences which require different ways of doing business.

8. Open-mindedness

Entrepreneurs should know which events are useful to them. Failures should be faced with a positive attitude, they are experienced and should be used to be better. It also helps in knowing and learning from competitors. Learning with an open mind lets you look at your faults humbly.

9. Empathy and Emotional Intelligence (EQ - Emotional Quotient)

Empathy is understanding what’s going on in people’s minds. The strengths and weaknesses of every employee should be known by the entrepreneur because they are the asset of the business. It is also essential to look after their well-being and keep them motivated.

10. It is all about the Customer

Yes, of course it is your business and your hard work, sweat and tears. But without the customers the business does not exist. This means you need to understand and research the target audiences, engage their focus and be on point when catering for their needs. Provide products and services which there is an existing demand for and not products and services that you would enjoy selling. Customer Centric business is the key to success. Be agile in your marketing and react to changes in customer preferences to stay ahead of the competition.

11. Money Management

The crux of a business is money and wealth creation. Therefore, you need to be able to translate your plans into actions which generate income. An entrepreneur should be consistently focused on ways of making revenues and profits. Furthermore, you need to be practical and well organised with the business plan, budget and planning ahead to anticipate costs. A successful entrepreneur can motivate his/her team and himself/herself to optimise everyone’s efforts to make the venture successful. It is important to know when to invest money and when you should hold back funds to meet expected risks and costs.

12. Having a Vision

A successful entrepreneur will have a vision and consider where the business is going and what they plan to achieve. It is important to look at the long-term and short-term picture. With a careful and well-thought out strategy and measurable goals you can and will achieve your targets. It is about setting yourself daily, weekly, monthly and yearly targets for your success. Also be prepared to fail sometimes and not meet all your targets and other times it will go brilliantly. The most important thing is not to make excuses, instead the reason you failed to reach your vision for some aspect of your company.

13. Flexible and Adaptable

It is important to be flexible and adapt to changes and also know your limitations. You may need to hire others to take on tasks you’re not competent with. Responding to change is essential in today’s competitive marketplace. Flexibility is needed to solve unexpected problems and also to be responsive to the needs of others’ opinions and ideas. By listening to your customers and staff you need to be adaptable and versatile to keep your business healthy and afloat.

Flexibility also applies to product and services development to adapt to ever changing marketplace. People who are fixed in their ways will find the entrepreneurial journey difficult. Being adaptable is vital for a successful venture. That same flexibility applies to time scheduling as you won’t always be able to work 9 to 5. It is about choosing the optimum times to reach success. Versatility is part of creativity in the way you plan the strategies for your business. An openness to embracing new trends in the market and pushing yourself to adapt to those changes.

14. Resilient and Determined

Failure is no stranger to the entrepreneur, but it is about learning from your failures and doing things differently the next time. This means the ability to bounce back from defeat and show resilience. Determination and the drive to bounce back from setbacks is all important. Coupled with a self-belief that you will achieve and see failure as an opportunity to switch tracks to something successful.

It is resilience and tenacity that keeps the entrepreneur moving forward with motivation and inspiration. Studying entrepreneurs from the past who have overcome adversity is a very positive approach.

15. Decisive Part one - Action Oriented

Entrepreneurs have to be competent at taking action; the bucks stop with you. All the decisions you make will have an effect on your business growth and therefore it is important to make the right decisions. Victory involves taking a decision when there is an element of risk and pushing the boundaries to achieve. Being decisive is part of the makeup of successful entrepreneurs who go beyond the limits of ordinary people afraid to take risks. Taking action at the right time and having a priority order for tasks is also vital.

16. Integrity and Honesty

Having a reputation for integrity is important to build trust with your customers, staff and other stakeholders. It is important to be honest in all your business dealings. By building a reputation for being trustworthy and a person of integrity will lead to positive, long term relationships which will make the business thrive. Successful business relies on trust and it is a key factor for customers because trust leads to sales. Hiring staff and holding onto staff is also a major factor that is influenced by the integrity that you are perceived to have. Treat staff and customers well and you will see your business grow and grow.

17. Team Player

Entrepreneurs are fantastic team players that work well with others. Being a decent team player and listening to the ideas of others will serve the business well. Innovation flows from all levels in a business which is why you should strive to get on with everyone and be open to new ideas.

18. Strong Interpersonal and Communication skills

Effective communication is important for customer service and with staff to motivate them. Communicating well with staff will motivate them to work hard and achieve results as they feel valued. This will help the business revenue grow. Use your communication skills to train and develop any staff you hire. Interpersonal skills or people skills are crucial for a business owner. People need to feel valued and trusted to get the best from them. Listening is a key part of communication and interpersonal skills. Speak clearly and openly with staff to show your honesty and caring side. Hand in hand with communication skills goes effective critical thinking to use rational planning to workout the obstacles that the business will face in the short and long term.

19. Confident

Entrepreneurs don’t doubt their ability to succeed or be worthy winners, but at the same time they must accept their shortcomings. It is confidence which drives an entrepreneur to take a risk and set up new businesses. It is self-belief and confidence that motivates them to reach their goals and full potential. They want to invest their money because they are confident of their business plan and idea.

Visualisation can be an effective way to develop your confidence. Imagine yourself achieving your goals each day and this will gradually help you improve and grow your self-confidence and self-esteem.

The self-confidence of the entrepreneur is infectious and it will rub off on others including staff and customers. This usually equates to having a motivated team and increased sales because customers believe in your authority and expertise.

20.Self-Starters

The entrepreneur is the one with the proactive attitude to go ahead and set up a business that fills a gap in the market. They don’t wait around for the crowd or listen to the naysayers. They research their market, set a business plan and go for it. This is the difference between an entrepreneur and a non-entrepreneur. They just do it and don’t spout hot air.

21.Sense Of Direction

Whilst focusing on the short-term is important in terms of achieving your daily, weekly and monthly goals, an entrepreneur is looking for long-term success with a vision, mission and idea of where they want to be in 5 year’s time. Their sense of direction helps them hold steady against sudden changes and challenges.

22.Product or Service Knowledge

Intricate knowledge of their product and services is essential for the entrepreneur. They know about their target market and the trends and when to release new products and services based on market patterns. An entrepreneur constantly updates their knowledge by studying their target audiences and increasing their technical knowledge of what they offer. They also study and analyse the competition to get the edge by emulating what the competition does well and they tap into customer feedback to constantly improve their products and services. This is the essence of an agile marketing approach.

23.Networking

Your Network is your net worth! Connecting with others helps you create opportunities and access new markets. It is important to network with integrity and honesty to build real and authentic relationships that last a long time. It is no good be very salesy and direct when you first connect with new people. Build trust and respect first because this is the key to long lasting relationships. It is also important to provide opportunities for people in your network and introduce them to people that will help them grow their business. In turn they should reciprocate and provide you with opportunities too. Build up favours is a brilliant way to expand your network and your leads and sales.

24.Persuasiveness

Being able to persuade others is vital for negotiation, motivating staff and enthusing customers. Entrepreneurs believe in their products and services and persuade others that they are offering the best service possible. It is possible to improve your powers of persuasion by developing your skills as a listener because listening makes others feel valued. Also you gain knowledge of other people and ways of doing business. Being emotionally sensitive is an important skill in persuasion. You can bond with people by showing a caring attitude with empathy.

Persuasion as a negotiator is essential to close deals, get customers to buy from you (without being too salesy) and to get your staff onboard with your plans. Every successful enterprise has a CEO or MD with strong powers of persuasion. The power of persuasion in leaders makes them valuable assets for any venture and gives them power to achieve their ambitions. A combination of persuasion, interpersonal skills, solid communication and financial management skills will give an entrepreneur a massive advantage over their competitors.

26.Positive Mindset

A positive mindset and optimism is the catalyst for creativity and innovation of products and processes. Also, a positive attitude helps an entrepreneur ride the waves of failure and adversity. The positive entrepreneur sees opportunities in difficult times such as recessions e.g. Amazon massively increased their income during the pandemic lockdowns with online deliveries meeting the high demand.

27. Goal Focused

We have mentioned this before but let’s go into more detail. It is about having clear objectives and setting action points to achieve them. With a clear vision of the intended future the entrepreneur knows which resources to draw on to make it happen. Entrepreneurs use schedules and timelines to stay on target and set themselves notifications using digital tools such as Google Calendar. Measuring their progress with KPIs and using analytics for social media and other platforms is how an entrepreneur tracks the success of their campaigns.

28.Lifelong Learner

You don’t start your entrepreneurial journey knowing everything. It is a question of constantly learning and acquiring new skills by a process of lifelong learning. Reading online, magazines, news sites, training courses and anything related to your sector. In the beginning you may have limited resources and finances and therefore you can make use of the wealth of free learning materials online. As an entrepreneur you need to master a number of fields relating to your business. The true master of business is always open to learning new things.

29.Relaxed and Composed

There is no point pretending life as an entrepreneur is easy; at times you will face stress and doubt. Having a relaxed and composed manner enables you to survive and develop coping mechanisms during pressure whether it be financial, technological or any other aspect. Going with the flow and spotting new opportunities is the master skill of the entrepreneur. As we saw before, it is about turning adversity into an opening for success.

30.Decisive Part Two - Calculated action

Being indecisive is the enemy of progress. An entrepreneur needs to be able to make quick decisions at times to stay ahead of the game. Problem solving under pressure with decisive action can be crucial in the world of business, but an entrepreneur makes each decision with careful, calculated actions.

31.Obsessed

Positive obsession with your brand, products and services are what is required to have a thriving venture. ‘Work hard like a maniac’ (Grant Stain, CEO Blam Websites ) will help you to build your empire. Obsession with your business and your long-term vision and goals is the key to winning rather than wasting time watching movies, TV series and looking at social media.

32.Competitive

Competition can be a positive and healthy thing. It is not about being a cut throat and uncaring capitalist. You can still be caring and competitive. Analyse what the competition is doing and emulate their best marketing and sales strategies. The entrepreneur takes on challenges in the spirit of competition and accepts losses as well as victories. Business is like a sport and the winning and losing are part of the game.

33.Common Sense

Common sense is still needed in business to make pragmatic and practical decisions e.g. you shouldn’t spend £2000 on a new company laptop if funds are low. Instead buy a laptop for half the price and when you are in a better position and sales are flying, you can purchase the high spec machine and trade your other machine in. Common sense extends to every aspect of managing a business e.g. managing finances, staff, marketing, PR etc.

34. Devotion

Your brand and business is your baby. You need to love and cherish your brand and that love will shine through to your customer base and staff. Internal marketing starts with the love of the brand by the staff at a company and that love then has a positive impact on customers through customer service. Love it, nurture it and shout it from the rooftops! Loving your brand is what it takes because if you don’t love it, who else will?

35. Problem Solver

Creativity and problem solving are bedmates. In times of pressure you will need to dig deep and realise creative solutions to issues. Sometimes revenues may be lower or costs higher and a problem solving solution could save you thousands of pounds, dollars etc. Generating new ideas and solutions is what the entrepreneur does best. Over the course of time your creative and critical thinking will develop and sharpen so that you become the best version of yourself!

CONCLUSION

Every individual is different and you will possess some of the above skills and characteristics, but others you will need to develop. Remember to play to your strengths and where you lack, you can always consider hiring others who are adept in these areas. An entrepreneur must learn to delegate to those that can to achieve lasting success. It is not about doing everything yourself and many processes can be automated with technology!

SECTION TWO TASKS: REFLECTIVE, BUSINESS PLANNING AND GROUP TASKS

REFLECTIVE TASK ON THE CHARACTERISTICS, SKILLS AND ABILITIES OF ENTREPRENEURS

Having examined the 35 factors, which of them do you feel you have and which do you lack and why?

Which are the most important for the type of business which you have chosen or are thinking of choosing?

Write a list of those you have and those that you lack. This will be a useful reference on your entrepreneurial journey.

8-STEP ACTION PLAN

Using your notes from reading the article, write an Action Plan of your steps you need to take to develop the entrepreneur abilities, skills and characteristics which you need.

Have look at the businesses on offer at LMB:

https://www.lovemybusinesses.com/ and consider if any those businesses fit your abilities.

Then to develop characteristics, skills and abilities consider actions such as:

Read an inspiring entrepreneur's book each month e.g. Tycoon by Peter Jones
Practise Hal Elrod's Miracle Morning each day. Google it.
Listen to motivational audios on Audible by entrepreneurs in your field of interest.
Consider taking online or face-to-face courses to help develop your areas of weakness.

ACTION PLAN

GROUP DISCUSSION TASKS

In groups discuss which of the characteristics:

You think are the most important and why
Which of the characteristics you already have
Which of the characteristics you need to develop
Which of the characteristics you feel are less important
Which of the characteristics do you recognise in famous modern day entrepreneurs. Consider the following people:

Elon Musk, Jeff Bezos, Richard Branson, Mark Zuckerberg.

Notes to the teacher, lecturer or business trainer:

Set this up as group work followed by whole class plenary. Or better still buzz groups where you move two from each group each 202 minutes to stimulate and cross fertilise ideas.

THAT IS THE END OF SECTION TWO!

Section One - How to Come Up With Your Business Idea

Thu, 02 Sep 2021 10:21:53 GMT

Section One - How to Come Up With Your Business Idea

Working out Which Business To Start!

Choosing a Business idea is the starting point of any entrepreneur’s journey. You need to ask yourself what skills and experience you have that could translate into a business start up. Some people consciously make the decision to start a business to leave the rat race behind or to have a side line and second income. For others it may happen by chance when an opportunity arises or you suddenly see a niche in the market. The truth is nowadays most niches are catered for, however with entrepreneurial insight and a look at the competition you can best decide how to enter your chosen market.

The most important question to ask is whether there is an existing demand for your product or services. Without demand, the best or most creative ideas in the world will fall flat. But first you must decide what it is your business will offer to its customers. and then you can determine if there is enough demand for the product or service to sustain your business.

In this first section read through the article summaries from quality articles we have sourced on the internet. We have also added tasks for you to do in your own time at your own pace. By the end of section one you should be ready to choose your business idea after considering the key issues.

The journey begins! Good luck fellow entrepreneur!

Special Thanks

A big thank you to the LMB Intern Team Sophia, Mary, Paulyn and Trisha who did the research for the first ten topics of the topic and then I added commentary and tasks. Well done team! Excellent work. We hope that many entrepreneurs, students, teachers and companies will find the Knowledge Base very useful for years to come.

Jamieson Hill, Content and Copywriting Manager, LMB

Article One: ‘Create Winning Business Ideas’

We kick off with the first article for section one which is all about 'How to Come Up With Your Business Idea'. As well as summarising the main points of the article, we also ask thought provoking questions to stimulate your own process of formulating ideas for your own business. At the end of each section, there are more in depth tasks to reflect upon the reading which you are now undertaking and a task to write an action plan for your future targets. This article summary is taken from the following website:

https://www.thebalancesmb.com/create-winning-business-ideas

For each article, we extract quotations and then explain in our own words the point the writer is making:

Read through the following summary points and take notes:

"Keep up with current events and be ready to take advantage of business opportunities"

The article recommends watching the news everyday to come up with a business idea for your startup. In consuming the latest issues and topics in the news you will see business opportunities. What's more you will see market trends, new ideas, news from industry and different sectors and see opportunities for business.

"Invent a new product or service"

It is suggested that by looking at the needs of the market for products and services which are not being supplied or are in short supply, that you can come up with a gap in the market for you to fill. The writer advises that you analyse the market sector/industry you are interested in and to ask 'how could this situation be improved?'.

This way you will find the target market that your new business will focus on. You can brainstorm a variety of ideas that might fill the gap in the market.

TASK

What are your initial ideas for the market sector you will focus on and any gaps in the market which your new business could focus on supplying?

"Add value to an existing product"

The writer advises considering other services and products which you can add to your original idea. Combining your main product or service with other products and services can expand your reach in the market. The example given is a local farm selling vegetables. They can add value by offering a delivery service for an extra charge.

TASK

What can you add to your product or service idea to expand your reach in the market? Make a list of ideas.

"Investigate other markets"

It may be that your chosen business idea is not necessarily best suited to the local market. The writer recommends that you look at the international market and investigate ‘foreign markets’. By researching the global market you can brainstorm some brilliant opportunities to sell your product and services abroad.

"Improve an existing product or service"

The writer talks about thinking about ways to improve the products and services you want to offer. The way to do this is to examine how the competition is doing this. Developing your base idea for products to offer a better service or version of your product could lead to increased sales.

"Jumping on the bandwagon"

The article describes ‘the bandwagon effect ’ refers to ‘larger social trends’ whereby the market suddenly has high demand for a product or service due to trends. This sudden increase in demand may mean that the supply is not enough to meet the needs of the sector.

The example given is the high demand for facial masks during the Covid Pandemic. Lots of entrepreneurs jumped on the bandwagon and started cashing in on the demand. Of course, there is often a window of opportunity before lots of other businesses get involved, which means it is important to keep an idea on the news and trends to captialise on the opportunity.

TASK

Can you see any such opportunities in the market you are interested in? Make a list.

Inspiring Quotations From the Article:

“Dream, think, plan - and you'll be ready to transform that business idea into the business you've always wanted.”
“You know what they say about the person who builds a better mousetrap. That person could be you!”
“You'll be amazed at how many business opportunities your brain generates.”

Source: https://www.thebalancesmb.co m

Article Two - ‘To Pick The Best Business Idea, Determine Your Zone Of Genius’

The following article is from Forbes and was written by Doug Foley. It helps you decide what your area of expertise or genius is, so that you can choose the right business for your abilities and experience. We ask thought provoking questions to apply Foley’s advice to your business.

Article Summary

According to Doug Foley, business owner and author of the new book Breakout Blueprint, the secret to success is identifying the area where your zone of genius intersects with a business opportunity. Your business's potential is mainly dependent on your ‘zone of genius’.

1. “Finding Your Zone of Genius”

Foley uses this simple piece of advice from New York Times bestselling author Keith Ferrazzi, who wrote Never Eat Alone and Who’s Got Your Back:

“Call, text, or email at least ten people and ask, ‘What is the one thing in the world you think I’m best at?’”

Foley believes that by asking people in your life for feedback, the responses will be very valuable. It enables you to harness your ‘zone of genius’ i.e. the things you excel at and sets you on the ‘path to mastery’ to increase the value you and your business bring to the marketplace.

It is similar to the 360 degree feedback that is often carried out in the corporate world where a person asks for feedback from all the people they work with.

TASK

Try this activity out by asking people in your network what they think that you are best at. Ask at least 10 people and record their answers for research purposes. Be prepared to get negative feedback as well. Both positive and negative feedback are both useful.

2. Be the Surgeon, Not the General Practitioner

Mastery and specialisation in your chosen field are key to increasing the potential earning power of your business, says Foley. He gives the example of going to the doctor. When you get symptoms, you generally go and see your GP. Then the doctor checks you and if need be, they will send you for further tests and X Ray, a scan etc. Then the radiologist sends a report and if necessary you will be referred to a surgeon. Foley asserts that you must become the ‘surgeon’ in your field of business and be able to analyse situations and see what the solutions are to problems for your target customers.

3. “Now is the Perfect Time to Improve Your Skills”

Foley explains that your ‘zone of genius’ encompasses your innate abilities but you need to put in the ground work to develop and become a master in your sector. The difference between the corporate and entrepreneur worlds is that the corporate world has a ‘top of the ladder’ but entrepreneurship does not. It is different for each individual.

Foley cites the example of the global pandemic as being one of the greatest challenges faced by entrepreneurs. But at the same time, it has given a huge opportunity for people to ‘invest in themselves and their skill sets.’ When you identify your ‘zone of genius’ you can explore your skill set even more and work towards becoming world class in your chosen field.

TASK

What can you do to develop your zone of genius? How can you work on yourself to develop your skills to focus on being world class in your sector one day?

4. “Find That Sweet Spot for Your Business”

Foley claims that many failed entrepreneurs make excuses e.g. not having enough capital, lack of access to talent, or simply bad luck. But he says that often the truth is that they weren’t good enough. He says that you want to create a business that fulfils you and inspires you using your unique skills. If you combine your passion and knowledge, there is nothing to stop you from reaching the heady heights of success in your chosen market sector.

Quotations:

“Entrepreneurs are “idea people.”
“Everyone has natural talents and innate abilities.”
“Your best asset is yourself—not a stock, bond, mutual fund, or piece of property.”
“You must become the surgeon of your field.”
“People are often rewarded for their expertise for one simple reason: their advice and decisions have greater consequences.”

Source: https://www.forbes.com/sites/garrettgunderson/2020/12/16/to-pick-the-best-business-idea-determine-your-zone-of-genius/?sh=49a18f2b3952

POST-READING TASK

What is your Zone of Genius? Think about this in greater detail.

Write at least 3 things you are very good at. E.g. it could be an ability with languages, computers, marketing, finance etc. You can print this page out if you want to and write it by hand.

Article Three: How to Choose The Right Business For You

In this article summary, we look at a great article by Sabrina Parsons. She is described as ‘ a successful Internet expert, veteran of several successful Internet ventures, and co-founder of her own consulting company Lighting Out Consulting. She is currently CEO of Palo Alto Software.’

Article Summary

“You have to know your business”

Sabrina warns against listening to people who tell you to start a certain type of business that has 100% certainty of success. Instead she advises that you choose a business which is focused on your experience, passions and skill set because there are no absolute certainties in business. It depends on your background and ability to run the business well.

“Follow your resume”

Sabrina advises that if you have many years of experience in a certain profession, starting a business in that sector offers many advantages. You can draw upon your talents and training, your network of connections and industry expertise to make the business a great success. You can also ask people you worked with about what they think is involved in running a certain type of business if they have experience in the same sector. Sabrina suggests considering your main skills, abilities and education/training to choose the right business doing something you are passionate about.

“Study”

Sabrina affirms the importance of spending time studying the business you are interested in, so that you don’t make business planning mistakes in the long run. Take time and don’t rush because in the long term it is better to be well informed.

TASK

What resources can you use to study your possible business ideas? Make a list and then investigate each one.

“Always test your business idea”

Sabrina outlines 6 very useful steps to take to test your business idea:

1. “Try it out”

She suggests learning about every part of the business and then put what you have learned into practice. Become an expert in your sector.

2. “Talk to entrepreneurs in the same field”

A very valid point that Sabrina makes is about talking to other small business owners for advice. Choose people that don’t mind sharing their experience and aren’t worried that you will be in competition with them.

3. “Evaluate whether you enjoy the work and excel at it”

She underlines the importance of starting a business which you enjoy because taking on a business in an area you’re not keen on will be hard work and potentially demotivating.

4. “Judge your ability and desire to handle every aspect of the business”

Sabrina affirms that it is important that you start a business which you are able to handle and ‘contribute to’ when things need to be done. It doesn’t mean that you don’t hire others to help you with areas of weakness, but overall you should have the ability to manage most aspects of the business.

5. “Determine whether the business has a solid chance of turning a profit”

Sabrina points out that you need to know within a few months of running the business that it is going to make enough money to make it viable. You need to breakeven and be sure that your overhead costs are covered in the first year. This is vital and should be part of your business plan.

6. “Evaluate the risk this particular business requires”

Sabrina asks entrepreneurs to evaluate the risks involved. She says that you shouldn’t give up if the business hits obstacles, and with a business strategy you will be able to plan for such risks. Mitigating risk is what every successful business owner should do by analysing the facts and figures in particular the financial data.

Inspiring Quotations:

“It can be extremely rewarding, but first it will be hard”
“Your passion and knowledge are the best places to start in choosing your new business.”
“Even the best-laid plans can sour if you pick an unusually risky business.”
“Always do best are the ones owned by someone who lives, breathes, and loves what they do.”
“The buck will stop with you, and you alone will be responsible for all the good and bad decisions you make.”

Source: https://articles.bplans.com/the-right-business-for-you/

REFLECTIVE TASK

What did you learn from this summary? Write notes here to show what action you took in relation to the points raised:

Article Four: Simple steps to choose the right business idea

Article Four is by Steve Nicastro who is a staff writer at NerdWallet, a personal finance website. We examine the three points that he makes and make suggestions on how you can implement his advice.

Article Summary:

1. “Focus on your skills, experience and passion”

Steve says that by focusing on your existing knowledge and experience you will learn quickly. He states that you don’t have to be an expert immediately, but by using your previous experience and training you will soon get up to speed in your chosen sector. In a similar fashion to the previous article, Steve recommends that you consider whether you are enthusiastic enough about managing your business because when you face challenges and obstacles it is that passion which will help you prevail.

TASK

Have you really got the passion to make your business succeed or should you choose a different idea?

Think about this question and make notes..

2. “Evaluate business-lifestyle fit”

Steve asks entrepreneurs to consider whether the business you are thinking about starting will allow you to still lead your ‘unique lifestyle. He says that a business that requires over 60 hours a week may not leave you the free time to lead the life you want to. Love My Businesses have a number of automated and fully managed businesses which may suit you if you don’t want to be hands-on. He also advises that if you hate being stuck in the office, then choose a business that can be run from anywhere in the world with a wi-fi connection, so you have freedom to travel.

TASK

Is the business you are thinking of suited to the lifestyle that you want to lead or will it impinge upon your life?

3. “Test your idea”

Likewise with Sabrina’s article, Steve stresses the importance of doing your research into the business idea before you launch. He suggests you ask yourself the following questions:

“Is there enough demand in your market for the product or service you're offering?
Are you able to cover the start-up costs?
How will you set yourself out from the competition?”

TASK

Sit down and write a list of answers to the three questions that Steve asked. If you answer no to the first two, then you need to seriously consider whether your idea is a non-starter or not.

Finally, Steve highlights how vital it is to write a business plan with your objectives and your action plan of how you will achieve them. He states that the business plan will help you decide if your idea is viable.

Inspiring Quotations:

“A solid business idea requires creativity, planning and soul-searching.”
“Matching the business idea to your lifestyle can prevent burnout.”
“It’s smart to write a business plan that details your goals and how you plan to achieve them.”

Source: https://www.usatoday.com/story/money/business/smallbusiness/2017/05/10/simple-steps-choose-right-business-idea/101466370/

Article Five: How to Choose a Business Idea

In the article we read, Libby Marks, a CIM-qualified marketing expert, with almost twenty years’ experience working in marketing and communications gave solid advice on how to choose a business for you. Libby has worked for a UK National Charity and a leading Russell Group University. We analyse her points and look for ways you can implement her advice.

Source: https://transmitstartups.co.uk/guides/how-to-choose-a-business-idea/

Article Summary:

1 ”What sort of business suits you?

Echoing what has already been said in earlier articles, Libby states that you shouldn’t choose a business idea if you’re not going to enjoy it. Think first about what type of business you would actually like doing, rather than just because it is profitable or in high demand.

Libby asks entrepreneurs to consider these questions:

“What are you interested in?”

She recommends that you do something that you love and then it will be fulfilling. Choose a business that you will be passionate about!

TASK

Ask yourself: What do you love and what are you passionate about? How can you turn that passion into a business idea?

“Lone wolf or pack leader?”

Libby advises that once you decide whether you prefer to work alone or in a team you will have a clearer idea of the type of business you should start. Many freelancers work with other freelancers, but is this for you?

“What skills do you have?”

Like the previous writers, she also says that you need to consider what skills and experience you have and also to listen to what other people say about your best abilities.

“Where do you see yourself?”

Libby recommends tapping into your ‘mental image to reveal insights’ into what it is you want to do.

TASK

I am a big fan of creative visualization and I suggest you spend time imagining yourself in your chosen roles. Sit down and close your eyes and picture yourself in a variety of business owner roles. Which feels intuitively the right fit for you?

“Product or service? What resources do you have?”

She emphasises the need to check what resources you have to make your business a reality. This should be part of your business plan. Libby also raises the issue of taking out a loan if you need to. Her website has comprehensive information about startup loans which you may like to check out.

TASK

What resources do you have available to you and how can you make use of them?

“What kind of person are you?”

Libby suggests you analyse your personality so that you are sure what you feel comfortable doing and what is outside of your comfort zone .

TASK

You could take one of the many personality tests online. Here is a link for a personality test. If you search in Google for Psychometric Tests you will find more to choose from.

2. “Brainstorm business ideas”

Libby recommends a number of creative ways to think up business ideas:

“Look around you”

Her advice is to ask owners of similar businesses for advice about what it is like to run such a business and how profitable, enjoyable etc it is.

“Look online”

Researching online for business ideas is another suggestion she makes. You can start by looking at the businesses that LMB offers.

“Think about a problem”

Libby says that you should look for existing problems with similar products and services to the ones you are considering offering. Then you will see how you can improve upon what is already on offer in the market. Looking at testimonials and reviews for products and services to give you information about the problems people have.

“Explore franchises”

She recommends looking at franchise models which is something we suggest too. If you read the LMB website you will see a number of franchise opportunities with brands such as Amazon, Istore, Airbnb, Uber and many more.

3. “Work out what business ideas are profitable”

This is an aspect already covered in previous article summaries. Libby recommends you work out your start up costs and whether there is a high profit margin for your proposed products and services. She says, “Think about products or services that cost the least to offer but make a good profit”

“Pricing of products”

Libby also advises you to plan and research about how to price the product or services you want to supply, because consumers are not likely to purchase goods that are above their budget. It is a balancing act between not pricing too low to be perceived as poor quality and not going too high to put prospective customers off.

“Sweat equity”

Libby says about ‘Turning Physical efforts into profit.” These are businesses that have low startup costs and making profit depends on your hard work. Examples of such businesses are gardening, handyman services etc. LMB doesn’t offer startups such as this as most of our online businesses are higher ticket offers, but if you want to run this type of business you should do further research into what it involves to be sure it is right for you.

4. “Put it all together”

Libby says that it boils down to three things:

“What you’d like to do
What you could do
What could actually work”

TASK

Consider the three points above and write a list of things you would like to do, could do and what would actually be possible .

Quotations:

“There’s no point choosing a business idea but not enjoying it.”
“Doing something you love is a rewarding way to run a business.”
“Your mental image can reveal insights about what you’d like to do.”
“Think about products or services that cost the least to offer but make a good profit”
“Turning Physical Efforts into profit.”

Article Six: Starting a Business: The Idea Phase

Article Six Summary is based on a piece was written by the staff at the fantastic Entrepreneur.com. Here at LMB, we are big fans of their website and social media. It is one of the best resources available on the internet. We go through the main points they make and give suggestions on how to implement their advice.

Source: https://www.entrepreneur.com/article/217368?fbclid=IwAR0IB2VteabSMazbXesU3-wJbDjt3VmUCnmABm3Kpzni9YU0f2HbF4TL2HE

Article Summary:

"Get the Juices Flowing:

The article starts off by suggesting that ‘you know yourself more’. This is a theme we have seen in other articles. They say budding entrepreneurs should workout the things they are good at and like doing. Also, you should include the things you don’t enjoy, which is what previous writers also said. This will indeed ‘get your juices flowing’ and then the next step is to take action based on your reflection.

“Listen”

The article talks about ‘listening to your own frustrations; to determine how you can take action to deal with them. It also describes how problem solving is a big part of running a business. Therefore, by listening you can learn how to turn problems into opportunities. The key takeaway is listen and find opportunities.

“Inspiring Moments”

The writer suggests that ‘inspiration can be anywhere’ and that by being observant to the latest news and trends we can find inspiration for business ideas. The example given is Netflix.com and how the idea came from a health club which had a fixed charge regardless of how often you wanted to use it. This was the inspiration for the pricing for Netflix. The key takeaway is that you should look at what other SMEs and large businesses are doing and be inspired with ideas for your own business. You don’t have to reinvent the wheel, you can ‘customize ideas’ to make them into your own ideas. This is a great piece of advice from Entrepreneur.com.

“Just Do It!”

The writer says that a ‘business start-up isn't rocket science’ and it is difficult to start with but you must realise that a lot of the people in your sphere of influence will not support and encourage you. Unless of course you surround yourself with entrepreneurs, which is something LMB recommends! The writer says you must have ‘the perseverance’ to carry on and deal with rejections. So as they recommend, ‘Just Do It!’ and don’t look back.

In summary, the writer states the most effective way to know if your business idea will succeed is to chat to people, be a good listener and be innovative. Also, have the grit and determination to carry on in hard times to be successful!

TASK

Considering the points above, write down which are the most useful and inspiring for you and why. Keep this in a journal to look back on as inspiration when times are hard.

Quotations:

“There's really never a bad time to launch a business.”
“The opportunities are all there; you just need to search them out.”
“Inspiration can be anywhere.”
“It isn't easy to begin a business, but it's not as complicated or as scary as many people think, either. It's a step-by-step, common-sense procedure.”
“Once you get an idea for a business, what's the most important trait you need as an entrepreneur? Perseverance.”
“You've got to get beyond the "no" and move on to the next person--because eventually, you're going to get to a "yes."”

TASK

After reading these two summaries, take notes about the ideas which resonated with you the most. Did it inspire any ideas for your business , products and services? Did it make you realise any business ideas that you are not suited to?

Article Six: Here’s How You Develop a Successful Business Idea

In the Article Six Summary we look at four great tips for developing your business idea. We based our commentary on a superb piece by fortune.com

You can read the article here: Source: https://fortune.com/2016/01/10/develop-successful-business-idea/

Article Summary:

"Say it out loud"

Explain your product or services in a way that anyone can understand, use plain and simple language about what your product does and why it is needed. Sometimes, people may have a hard time understanding but if you can't explain it to a uniformed person, you've got a problem. It simply means, the idea wasn't clear in your head and you will have a hard time attracting employees, investors and customers to make your startup successful.

"A picture's worth a 1,000 words, and a video is worth 10,000"

Converting your idea into a simple graphic or visual product concept is good for clear communication, but turning that into a simple 90–second video is even more powerful. You can use different tools or props to explain your product and services. This is a great point and remember that video has one of the highest engagement levels on social media.

"Get feedback on your product concept from as many value-add people as you can"

This article recommends you use your connections. They tell readers not to be afraid that someone might tip off potential competitors, and to just be confident that you can be the one to make this idea succeed. They describe how you will be surprised by the number of people who will offer to help you with encouraging feedback that can lead to potential clients, investors and customers. Using your network is a common piece of advice for any startup and existing business because your 'network is your net worth'.

They also suggest that you determine who your target customers are and talk to them. It means you have to interact with your potential customers.

Finally, they urge you to talk to investors because they believe investors want to talk to smart people so make use of the industry trends. The writer recommends that decent investors will know what's happening in the sector and identify potential partners and competitors. They will also know if your business is appropriate for funding and that can guide your market validation plans.

"Create a plan for fast market validation"

The article cites the last and most crucial step as developing a plan to quickly affirm the market need for your products and services. They also say to get advice from experts who've learned the hard way. But if you can't find a fast, cheap and effective way to validate the market, you need to raise the money first.

They point out that friends and family may want to support you financially, but only if your business has a realistic “fall back plan”. Because family and friends need assurances that the business will make a profit, so you can eventually pay them back or alternatively give them a share of the company.

Overall, some very credible and worthwhile ideas; food for thought!

Quotations:

“Pulling the plug on an ongoing start up is hard”
“If you can’t convince yourself, don’t bother trying to fool others.”
“Put yourself out there and expose your idea to people you don’t know.”
“Real success in the start up world is hard to come by, but quickly evaluating and eliminating the less attractive ideas drastically raises your lifetime success rate.”

Article 8: Nine Ways to Know If You Have a Great Business Idea

Source: https://www.businessnewsdaily.com/3969-finding-great-business-idea.html

Summary:

How to come up with a great business idea

Start by analyzing yourself and your strengths and answer the following questions:

What are you good at?

Determine all of your skills and talents because those skills can turn into business. It is very important to choose something you like and are passionate about because it is good to enjoy the things you do day in, day out.

What do others tell you that you're good at?

Listen to the people around you. Maybe they see special skills in you that you don't see as an opportunity. Those skills can be a great business idea if you see yourself happily doing it in the long run.

What service do you wish existed that currently doesn't?

Think of existing problems and find a solution for it. It is a big opportunity for you because of the fact that many businesses become successful by offering products and services that solve problems for others.

Helpful sources to spark new ideas

Look for inspirations around you to spur that lightbulb moment. Here are four places to look for inspiration:

Study successful entrepreneurs.

Learn all of you can before starting your entrepreneurial journey. Read origin stories and study successful business titans and look for advice and learn from their experience..

Turn to social media

Read about other people's reviews of certain products or services. Determine their grievances and take a look at their problems that you are able to solve.

How to determine if you have a good business idea

Here are several expert's advice to help you determine if you have an effective business idea.

Does it solve a problem?

"If there is a problem that affects you, your friends, family, co-workers, etc., then the chances are high that it affects people you don't know as well," Mike McGee said.

Will people pay for it?

"It's paying customers who validate an idea and determine which ones have the greatest chance for success," said Wil Schroter, co-founder and CEO of Fundable.

What's your price point?

"While there are many ways to solve problems, great business ideas do it in a way that is less expensive than what the market will endure," Charlie Harary said.

Is there a sizable niche market for it?

How can you tell if a niche market is, in fact, a market? It's a mix of "research, gut instinct and personal preference," according to Ari S. Goldberg, founder of investment firm RNMKR.

Are you passionate enough about it?

"Since starting a business requires an inordinate amount of time, energy and patience, ideally, the idea will be one that you are passionate about as well as one that you have skills or experience [in]," said Melissa Bradley, managing director of Project 500 and an adjunct faculty member of Georgetown University's McDonough School of Business.

Have you tested your idea?

"Test it – not just with friends who will be too polite to tell the truth but with honest people who would make up your ideal target audience, and then listen to the feedback," said Lisa McCartney, chief "PLYTer" at educational math board game company PLYT.

Are you open to advice?

"Success happens when you are willing to listen and consider others' advice," said Angie Yasulitis, CEO and managing partner at The YaZo Group. "Most good ideas take some tweaking to get to market. Being closed-minded is a business killer."

How will you market your business?

"If you have a solid go-to market strategy and a decent product, you'll probably be successful," Lipson said. "But if you have a great product without any idea how to reach potential customers, then it's going to be really tough to make it successful. Thinking through that as early as possible is really key."

Are you being realistic about your goals?

"You shouldn't have a Field of Dreams mentality when starting your business," Thomas J. Gravina said.

TASK

As in the last task, make notes about the ideas which really connect with you. How have these article summaries influenced your thinking about your own business ideas? Have you got a number of potential business ideas for your venture?

After article 9 you will be doing a summary task where you reflect and action plan based on all of your reading. Good luck! Let's do this!

ARTICLE NINE: How to Choose a Business Idea From the List of Business ideas?

Source: https://www.entrepreneurshipinabox.com/3843/how-to-chose-a-business-idea-from-the-list-of-business-ideas/ )

Summary:

Keep proper records of business ideas to make sure that nothing will be forgotten, those information are helpful in expanding a business or to start a new one.

Entrepreneurs look into research and make comparative analysis of business ideas to decide which one will be used to start a business.

Choosing business ideas can be grouped in a simple way or complex way.

In the simple way of choosing, business ideas are compared with each other in a random manner. Two ideas will be compared, the better one will remain to be compared to other business ideas. The process will continue until the best business idea remains.

On the other hand, the complex way is more systematic. It considers different factors that affect the business’ success.

Complex Way Process:

Make a list of factors that will be valued; factors that are important to the success of business.

Examples: “personal satisfaction, market size, monetization opportunities, risk of failure, efforts needed to implement it, implementation time” and so on.

Add weight to each factor that will determine the importance of the factor in the valuation process.
If one factor is more important to you, it should weigh or be considered more than the other.
Assess each business idea based on each of the factors that you have defined previously. Example: Use a scale of 1 to 5.
Multiply each weight of the factors with the score that you give for each idea based on an appropriate factor. This is for the proper assessment of the factors.
Collect the individual scores of the factors for each idea.

The idea with the largest score should be used as the business idea.

Quotations:

“The ideas are the easiest part of an entrepreneurial process.”
“Typically, an entrepreneur will make research and analysis to compare each of the business ideas with another

SECTION ONE SUMMARY: REFLECTIVE, BUSINESS PLANNING AND GROUP TASKS

Which of the 9 articles did you find the most useful and why?

8 STEP ACTION PLAN

From the notes you took during reading the articles, now make an Action Plan of your steps over the next month to work towards choosing your business idea. You can do this in less than a month if you prefer but make sure you carefully consider the options. There is no need to rush your decision. Look at the businesses on offer at LMB: https://www.lovemybusinesses.com/

One of our automated online businesses might be the perfect fit for you!

N.B. Include points from the articles in your action plan. PRINT THIS PAGE OUT AND HANDWRITE IT.

GROUP DISCUSSION TASKS

If you are a teacher, lecturer, business trainer or just a pair or group of entrepreneurs here are some suggestions of how to use the 9 article summaries/commentaries.

GROUP DISCUSSION TASKS

1.GROUPS AND PLENARY

Break up into groups of 3, 4 or more. Each group reads and discusses one or more of the article summaries and commentaries and does the tasks in each case. Then they meet as a whole class to feedback their ideas and discuss them further.

2. BUZZ GROUPS

In a similar set up to 1 groups break off and discuss one or more of the articles and brainstorm ideas. Every 20 minutes send two people from each group to another group. This keeps the energy and motivation going because you also set time limits for each group session i.e. 20 minute discussion and then two people from each group move to another group.

Buzz groups can be fun, dynamic and a productive way to seed ideas and encourage innovative thought.

3. RESEARCH PROJECTS

Allocate one or more article summaries and commentaries to each group. Give each group (or person if you are a small group) a week to research further into the topic and prepare a presentation. They can create a PowerPoint or other form of visual presentation e.g. video, podcast etc.

THAT IS THE END OF SECTION ONE! We hope you have managed to choose a business idea from completing this self-study resource!

PRIMARY RESEARCH: What do you hate most about your job?

Mon, 09 Aug 2021 20:20:25 GMT

Primary Research into what Employees and Employers Hated Most About Their Jobs

.LMB spoke to a number of people about what they hate or hated the most about their job. We spoke to employees and to employers to get a balanced perspective. We changed their names to keep it anonymous and some of the participants certainly didn't hold back with their opinions! Let’s have a look at what they said and see whether you relate to the experiences conveyed in this primary research.

What the Employees Said

Striking A Balance

“The saddest thing when working together is servility towards superiors and arrogance towards inferiors. To produce valid results it takes respect, dignity, commitment and a joyful spirit of collaboration.” Alessandro, Italy

Finding the balance in the workplace is the secret solution to a positive and productive workforce. You want workers to feel relaxed but not so relaxed that they are not working hard enough. Employees need to be made to feel valued and appreciated. In many cases this is just as important as money.

If you create a stressful work environment based on fear and not trust with a lack of unity and poor communication, it will dampen the spirit of innovation. In contrast, a positive and collaborative atmosphere will inspire your team to be productive and to contribute to the innovation of the company in terms of products and processes.

Clocking in Culture

“More looking back to when I was younger but it is still relevant in the workplace, I don't like presenteeism i.e. clocking in culture where workers are judged by time spent at work rather than actual productivity (sometimes they are different things).” Sophie, UK.

This is the bane for many workers. Clocking in can erode trust and made you feel like a prisoner or just another cog in the machine. Building trust with the workforce leads to long-term trust. Clocking in is perhaps an outdated and old fashioned approach, especially with many firms calling for shorter working hours. Richard Branson is a big believer in shorter working hours and longer weekends. He believes that by showing workers more trust, you will get the best out of them.

Politics and Backstabbing

“For me the thing I hated most was politics. All the gossip, the backstabbing and the insincerity of people. I really enjoyed my job but some of the people I wouldn’t ever choose to socialise with. So many people were fake, they just wore a mask, a veneer to cover who they really were. That really sucked!” Ahmed, UK

Workplace politics can turn a fabulous job into a nightmare where you dread going to work. You don’t have to be best friends with your workmates, but you at least expect a little sincerity. Unfortunately, a lot of people do wear masks at work and you find out the hard way their priorities and objectives often mean using people to get power and promotion.

What The Employers/Managers Said

Seeing things from both sides of the coin is a very useful exercise. In the first part of the article we saw contributions from employees. Now let’s find out what employers and managers hate most about their jobs:

If You Want Something Done Properly....

“The thing I hated most about being a manager was that you could set people a task to do and then they would mess it up due to their own incompetence. However, they would blame it on me their manager to deflect from them taking responsibility.” Tom, UK

The age old adage of 'if you want something done properly, do it yourself' can ring true. It is also the reason why many managers and employers are afraid to delegate tasks because they are not sure the employee will get it right. However, delegating to the right staff members builds trust and shows you value them. It will lead to a productive and reliable workforce in the long-term. After all, you simply cannot do everything yourself. A successful manager or entrepreneur will always delegate to the right people and selecting talented workers is a great ability to have.

Two-faced Backstabbing

“The thing I hated most was the people you helped the most or needed most help were sometimes the ones that were usually two-faced and would backstab you. I remember one worker who asked for time off and understanding due to stress and anxiety. This staff member was given lots of support and help. Then a little later on she was the one to lodge a complaint against me about being disorganised and yet I had gone the extra mile to help her. That level of backstabbing is despicable.” Sarah, UK

This anecdote shows the need to keep a professional distance in relations with staff if you are a manager or employer. Sometimes the people you help the most and/or develop friendships with may be the ones to turn on you. A successful manager will be impartial and treat everyone equally abiding by the company rules. If any disciplinary action or grievances occur, by maintaining a professional distance with staff, it makes it easier to deal with such situations.

Employer’s Rant About Staff

This frank rant came from a former business owner in the West Midlands. He started off by saying this:

“STAFF they’re ********, all of them. They think you’re taking all the money and are rich when most of the time, especially in the early days, you’re the first in and still working at midnight ploughing everything into the business, missing your family grow and paying yourself a pittance well below minimum wage just for them to TEXT, not even phone to tell you their girlfriends Nan’s cat has died so I’m dropping you in it today!!! ********* I tell ya!!!”. Rob, UK

Staff often neglect to realise the sacrifice that the business owner puts in, in terms of money and time. The business owner will sometimes be just breaking even and earning less than staff in some instances, especially with a start-up. However, staff are not always going to care about this. Mostly, they just want to do their job and then go home and forget about work.

Employer’s Rant Continued

The same business owner continued with his complaint about former staff and clients:

“They have no idea how much things cost!!! They see 3 guys turn up and see £1000 and think they are entitled to more than they’ve paid for. They don’t realise that the office staff need paying, the materials need paying for, as well as insurance and as an employer you pay additional employers national insurance.

Any vehicles that are run and electricity, internet phones etc all need to be paid for and you’ve got some snotty nosed ***** screwing you down on the price thinking they’re getting a great deal!!! I did a job for one of the head men at a top Brand, I shipped their stuff to Florida and they screwed me down so much then insisted on so much free stuff I made £30 profit on 3 days work!!!” Rob, UK

This is a typical scenario where staff don’t appreciate the costs and pressures that their boss is under. But then again, they are not paid to burden those financial pressures. This particular boss sold his company eventually, but you can see the annoyance he felt about the lack of empathy and understanding from his workers.

Being ripped off by an executive at a top brand is a very poor example of someone in a position of power exploiting another. The problem with that kind of action is that it destroys trust and will not lead to long term business relationships. It is always best to go for win-win negotiations in business deals so both parties are happy.

What is the solution if you hate your Job?

If you are a disgruntled employee who is fed up with your job, you should consider starting your own automated and fully managed business to bring in passive income. If you’re an employer or manager fed up of running your own business, you could do the same to escape the stresses of daily work life.

With an automated and fully managed business , you don’t need to worry about managing staff, you just invest the money at the start and help with the set up. After that a team will run the business for you. These types of business models are what we at LMB recommend, as a way to achieve financial freedom away from the traditional ‘rat race’ model of being an employee or employer

Business Knowledge Centre: How to Become a Successful Entrepreneur

Wed, 21 Jul 2021 09:50:46 GMT

Knowledge & Training to Become a Successful Entrepreneur

Welcome to the Love My Businesses Knowledge Centre!

The purpose of this Knowledge Centre is to give valuable training and educational materials for entrepreneurs. We have researched some of the best articles and resources on the internet and summarised them into a self-study training course. There are also self-study and group tasks for colleges, universities and business training organisations.

We believe that providing valuable training to the entrepreneur community is good for the world economy. Our mission is to help build an army of entrepreneurs across the world to build better lives for themselves and to create more affluence and employment.

Course Structure:

ARTICLE SUMMARIES: Each Section has Article summaries for you to read. You may read whichever section you need for your business or you can work through it step by step.
REFLECTIVE AND BUSINESS PLANNING TASKS: At the end of each section there is a reflective task for you to do and a business planning task.
GROUP DISCUSSION TASKS: There are also discussion tasks for people wishing to use the material in groups. Therefore, it can be used by entrepreneurs, teachers, college and university lecturers or students on their own who are studying business or interested in it.

TASKS BEFORE YOU READ

Brainstorming Task: What is your skill set and experience to match with business ideas?

To generate business ideas, ask yourself the following question:

What skills and experience do you have? Write them in the spaces below:

10.

Identify a Need:

What products or services could I supply and why? Write your evidence here from researching online that there is an existing customer demand for these products/services:

Do you have a proven track record in a certain sector that could become a profitable business?

List your top ten business ideas:

10.

How to Be an Entrepreneur and Keep Your Full time job!

Mon, 19 Jul 2021 12:03:36 GMT

The Solution to the Entrepreneurial Dream Without Quitting Work (at first)

Here at Love My Businesses we tend to focus on how to escape the rat race and quit your day job, but not everyone wants to give up their day job. In this article we explore how your day job is actually your key to freedom and a secure base from which to launch your business. Then one day you will be financially free enough to say goodbye to the Corporate Grind!

The Be Realistic Lobby?!

How many times have you heard people tell you that you’re chasing a pipe dream and that most businesses fail in the first year? Well, I am telling you now if you let these people into your mindset you will never achieve anything! You need to leave those people behind and grab destiny by the horns! This type of person never gets anywhere in life because they just spin the same old urban myths that keep people trapped in their tedious lives. You are the key to breaking free and getting that entrepreneur mindset off the ground! Leave behind those naysayers! Time to get real!

The Way of the Entrepreneur That Still Has the Day job!

The reality is that most of the top companies in the world were set up by people who had full time jobs. They had to develop their entrepreneurial skill set in their own time from home. How many stories have we heard of entrepreneurs who opened their first business from their bedroom, garage or basement? The truth is many of today’s biggest businesses were at one time a small set up that grew into a massive enterprise .

Have Gratitude for your 9 to 5 Job

Whoever you are and wherever you live, the common factor for everyone is that they have to pay their monthly bills. With that in mind, your 9 to 5 job is helping you to fulfill those financial obligations. So let your job be your motivation and drive to start your first business. Use your skill transfer and experience to start a successful business. So rather than hating your job, think of it as the stable base that your business will grow from. Are you starting to see what I am saying?

Time Strapped? Be Resourceful!

Okay let’s be brutally honest, those 40 hours in the office can feel like a prison at times. However, let’s look a bit deeper into the time free you have to start a business. Each week has 168 hours; you work for 40 hours and you spend 8 hours a night sleeping which comes to 89 hours.

So basically you still have 79 hours left over every week which is loads! If you spent 3 hours a day from those 79 hours on your new business that means you have 21 hours each week to build your entrepreneurial dream. You could allocate an hour in the morning by getting up earlier and then two hours each evening.

Optimise Your Schedule!

So you’re probably thinking how can I spend 3 hours a day on my business? Well, I think you’ll find that you probably spend that amount of time on social media and watching Netflix. If you are serious about being a successful entrepreneur, give up social media (except for promoting your business) and stop wasting time watching TV. If you really want some personal social media and Netflix time, then schedule it for the weekend, but limit it.

Weekly Schedule

Those three hours a day need to be used wisely, so write a weekly schedule with an action plan to follow each day e.g. Here is an example schedule for someone planning a new start up (just Monday and Tuesday):

Monday

7 to 8am - Brainstorm ideas for products and services

8 to 10pm - Plan a 5-page website including the Services, About Us, Blog etc. Then after you have the outline of the website, start looking at website providers you can pay to design the site for you.

Tuesday

7 to 8am - Write a draft Business Plan for your first 6 months including your costs, marketing budget and overall spending.

8 to 10pm - Read a motivational book by an entrepreneur e.g. Tycoon by Peter Jones. This will give you tips for your startup from someone who is living the dream.

Peter Jones and His Success/Failure Tale

Peter Jones lost all of his businesses in the 80s along with his house and car. Then he went back to the drawing board and launched a new business which made 200 million pounds in 5 years! This is the kind of positive mentality that you need to submerge yourself in! Embracing failure is part of the business journey; the true entrepreneur bounces back even stronger having learned valuable lessons.

So do you get the idea? Plan and schedule your entrepreneurial pursuits everyday and let go of social media and TV watching because you will never get rich watching TV or reading Facebook all the time!

Stop Hating the 9 to 5!

Stop hating the day job because for now it is your secure platform to launch your business empire! On the days you feel trapped at work and hate it, use that to motivate yourself to break free by setting up a business that thrives. Then a few years down the line you will be able to kiss goodbye to the rat race and live the free life you have always wanted!

Think it sounds like hot air? Well, as I write this article I am sitting in a holiday apartment 8 minutes walk from the beach and it is 33C. I used to be a corporate slave but I set up a business on the side which eventually became my main income! Now I work wherever I have an internet connection. You can do the same!

Don’t believe the negative types that tell you most businesses fail! They will never leave their 9 to 5 with that attitude and quite frankly you are better than that! Get off your chair and start your empire NOW! There are a whole host of online businesses and ways to get passive income.

BE THE CHANGE!

The Eight Habits of Millionaires Who Retired Young But Started Humbly

Sun, 18 Jul 2021 16:09:48 GMT

The New Generation of Entrepreneurs Who Are Changing The Rules

In this blog article we check out 8 habits of a new generation of millionaire entrepreneurs who give up work and retire in their 30s and 40s. Let’s dig down into the nitty gritty of their routines and traits.

1.The Eternal Optimist (A millionaire who retires young and started humbly)

Positive thinking is a common trait in millionaires who retire in their 30s and 40s. They are driven by a sense of destiny and belief that they can reach their dreams. However, they are pragmatic and solution focused entrepreneurs. The typical young millionaire strategically prepares for the future with contingency planning in case projects fail or hit a snag. It is about being realistic but at the same time having the optimism to believe you will experience success and do the things most people only dream about.

2. They value the happiness of living a life they love

An attitude for gratitude is a common phrase bounding around these days, but it isn’t woolly and idealistic. Money is not the end goal, they are driven by a desire to have enough wealth to be free to do the things they love with the people they love. Time is of the essence. To have lots of money but very little time is not the pursuit of this new breed of entrepreneur. It is about achieving optimum happiness from the wealth that you create.

Once you achieve that level of happiness, it may be that you are happy with the income level that you have achieved. Money is a key to unlocking freedom and time to follow your dreams. It is not like the old world of working yourself into the ground 6 or 7 days a week, so that you barely see your family or friends. Money is the remover of obstacles to unlock free time.

3. They downsize and move to places where life is less expensive

Packing up and leaving the Big Smoke to move to places where life is cheaper is a common route for the downsizing generation of young entrepreneurs. Another trend is for young millionaires to earn money from their home economy e.g. a developed economy like the US, UK, Australia, EU block etc and then reside and spend their income in a developing country such as Thailand, India, Philippines, Indonesia and so on. That way they are supporting the economy of the emerging economies, so there are altruistic influences as well as getting more bang for your buck.

It also reflects that people are getting tired of the stress and strain of the rat race in the big cities. Moving to another country but operating your business from your country of origin is a common trend. With this kind of lifestyle you have the amazing opportunity to live in another culture as well as maintain a high standard of living on a lower budget.

4. Money free worries after retiring young

A common trend in those who retire in their 30s and 40s is that they are not dwelling on the subject of money. They have achieved a level of wealth via passive incomes, saving and investing and frankly they are well off enough to not have to think so much about it. Achieving a state of financial independence, they have generated enough passive income to cover all of their needs. This brings great peace, wellbeing and contentment to their lives.

Also, after people retire young they begin to realise how money is not their priority any more as they have carved out a life that is financially independent. Reaching this state of freedom means they have more time to pursue hobbies, travel and enjoy their lives with their families instead of being slaves to the Corporate Wheel.

5. Monitoring their finances

Though young retirees are financially free, they still practise good housekeeping with their money. This is usually achieved by calculating their net worth and then long term planning how much disposable income they have each year. This strategic planning and budgeting means they can enjoy a secure future with a regular flow of income.

6. They practise austerity in their lives!

Young millionaires who have retired also embrace austerity in their lives. Sustainable living is in fashion and rather than buying a new sports car every year, they look for bargains and make their personal possessions last longer. Rather than eating out in fancy restaurants on a regular basis, they tend to eat at home and save their money for a rainy day. This is a total contrast to the times such as the 1980s when it was all about flaunting your wealth, particularly seen in America, and in the UK with the Yuppie culture.

It is more IKEA than Gucci and in terms of weekly spending, it is about maintaining a food budget. That way all the money they save from eating reasonably priced goods can lay the pathway to retiring young in their 30s or 40s.

7. They save money on housing!

Rather than buying a 4-bedroom house, this new breed of entrepreneurs choose to live in a one bedroom flat. Then they use the money they saved to buy properties which they then rent out to others. This in itself brings in a passive income from the rent. Though they have the money to buy bigger properties, investing in real estate to rent out is a guaranteed regular flow of money to build their savings for early retirement. Modest living now means an earlier exit from the rat race and you can live in a bigger property when you stop working as you have accumulated wealth in being a landlord.

8. Always on the lookout for ways to earn more

Despite what I said about spending less and saving more, this new class of entrepreneurs is always looking for ways of earning more income. Many will continue to work and also have side businesses which increase their net worth over time. Earning more money is more of a priority than spending less because the more money they make from side businesses means they can invest more in ventures that build their passive income streams over time.

One great example of an entrepreneur with this mentality is Grant Sabatier. He believes that you can only reduce your spending to a certain level and that earning more income is the key to more investments. He wrote about this in his book called Financial Freedom: A Proven Path to All the Money You Will Ever Need.

So we have looked at people retiring in their 30s and 40s but it is not exclusive to these age groups. You could be in your 50s and 60s and still adopt these tips to help increase your income streams and have more freedom to do the things you love in life!

Let’s do this!

BE THE CHANGE!

How To Earn Money While You are Sleeping

Sun, 18 Jul 2021 15:45:35 GMT

Tips on how to Generate Passive Income and Retire in your 30s/40s

Times are changing. The traditional route of retiring in your 60s with a pot of savings and a private and public pension are being replaced by a trend of people looking to retire much earlier. The ability to earn money while sleeping is the new reality.

The solution to early retirement is by generating passive incomes which allow people to stop working even in their 30s or 40s. In this article we explore some of the ways people are generating passive income as they sleep.

What is Passive Income and How do you Earn Money as You Sleep?

In a nutshell passive income is money which we earn without actively working. In other words, it is the setting up of income streams in the background that earn money for us literally as we sleep.

Passive income can be earned as well as having a full time job or taken to the extreme, a person may have several passive income streams generating money, so that they can effectively give up work. On the spectrum of income generating activities, there is everything from working full time to not working but bringing in money through automated businesses and investments. This change in our society reflects a strong desire for people to have more free time for themselves and their families. Bolstered by a strong urge to be free of the restraints of working full time for someone else.

How do I start a Passive Income Stream?

Although a passive income stream works for you in the background and earns money as you sleep, in the initial stages it requires considerable work and a financial investment to get it started. The ultimate objective is to have a totally hands-off business within a period of time. Passive income can involve investments into property, stocks, crypto currencies, Forex trading or a number of automated and fully managed businesses. These automated ventures will literally generate money for you as you sleep !

Digital Downloads

These products include online courses, e-books, templates, cheat sheets, how to books and booklets. Providers such as Udemy, Coursera and other big brands are cashing in on this huge growth market. Whether it is self-development, business growth, yoga, meditation, Forex or whatever subject takes your fancy, there is something for everyone.

To tap into this rich vein of income, you first need to sit down and consider what products you could create. The key to this is reflecting on your areas of expertise and then brainstorming a list of possible products you could design and sell. You will also need a platform to put the digital products on. This could be your own landing pages or platforms such as Amazon, Lulu, Etsy, Udemy and so on.

Investments and Financial Earners

The current trend is for Forex and Crypto currencies. These are popular with young and old with many people across the world growing their money via investments. In many ways, investing is a proven method to generate passive income. However, it is important to be discerning and do your due diligence and research before putting your hard earned money into ventures. The ideal approach is to talk to others who have made passive revenue in this way and find out the most reliable and trustworthy companies.

Playing the Stock Market is an age old tradition but again it is wise to seek the advice of an experienced investor or expert. You may prefer to go for low risk ventures or spread your money between safe stocks and more high risk ventures. It is tempting to sell when your shares increase considerably. However, the way to make money in shares is to play a long term strategy because stocks grow over time with compound interest. Step by step your investment will accumulate over the years.

Video Content

In the modern age, video has the highest engagement rate of any form of media. YouTube and TikTok are two of the most popular platforms and they can both be used as a Top of the Sales Funnel Strategy. By creating and posting high quality videos, you can bring people to your website landing pages to nurture them as customers and eventually convert some of them into sales.

In terms of strategy for platforms like TikTok, it is best to focus on one niche area rather than mixing it up i.e. just focus on inspiring quotes, landscapes and music and not a channel with cats, quotes, football etc. This way you are qualifying your leads in a niche audience.

For YouTube videos check their free music audio library and Pixabay has free video content to use. You can also source free video editing software online. Once your videos start to build an audience you can make revenue from Google Ads if you set it up for your video channel.

Become an Affiliate Marketer

As an affiliate you sell other companies goods and services and then they pay you a percentage of the sale i.e. a commission. This happens by referral link. You put your link in your adverts, content and landing pages and when a sale takes place you automatically get paid. It sounds simple but obviously it takes considerable work to create the content to attract an audience.

However, if you enjoy bloggin g and social media, you can write articles to drive traffic and gain income as prospects click your referral link and proceed to buy. For blogging, SEO is a key strategy, so you will need to learn the latest SEO techniques. Join SEO groups on Facebook and read SEO books on Amazo n. Whatever way you approach affiliate marketing, you need to decide on a niche in products and services which you are interested in, have knowledge of and are profitable.

So there you go, four avenues you can choose to pursue to get those passive incomes flowing. Whichever way you go, in the initial stages it will be about trial and error and testing what works best and makes the most money. In the long term, once you find an approach that works for you, you can set yourself up with income streams for years to come.

Earning money while you sleep is just around the corner! What are you waiting for?

What is ‘No Time’ And How Can it Boost Your Business Success?

Sun, 04 Jul 2021 22:58:43 GMT

How To Manifest Success With No Time Like Einstein, Darwin, Zuckenberg, Nietzche and Steve Jobs

Jamieson Lee Hill

There has recently been a flurry of articles talking about the research of Steven Kotler and the importance of no time or non-time for creativity and business success. In this article we explore what we mean by no time, some of the famous proponents of it and how we can apply it to our life and business.

The History of No Time

No time or Non-time is a concept that has been embraced by a number of famous people in history including Einstein, Darwin, Nietzche and Steve Jobs. It is a way to harness the power of creativity during periods where you are free to escape the distractions of the world. It is either a time to think and reflect free of other tasks or a time where we isolate ourselves from worldly distractions.

What is No Time?

Kotler defines No-time as "a quiet time, alone, isolated from the noise and demands of the world". He identifies the time period between 4am and 7.30am as the no time for him because it is before the rest of the world has woken up. It is a time of freedom without the pressures of the world when Kotler writes.

Why Are We Programmed to be Anti-No Time?

Most companies would baulk at the idea of no time to stimulate business success. It would be perceived as the antithesis of the productivity mentality allowing workers time to do nothing or having time to reflect

Yet the reason many of us have escaped the rat race of working for someone else to start our own business is because our former working lives were hectically scheduled. The effect of this can kill creativity, create a feeling of resentment and feeling trapped in company culture. This can demotivate you and negatively affect productivity.

‘The Art of The Impossible’

Steven Kotler wrote about no time in his book ‘The Art of the Impossible’. His research found that neuroscience showed that periods of quiet or no time have a positive effect on our creativity and thinking ability. Kotler identified that,

"Pressure forces the brain to focus on the details, activating the left hemisphere and blocking out that bigger picture. Worse, when pressed, we're often stressed. We're unhappy about the hurry, which sours our mood and further tightens our focus.”

Thus, the effect of a busy working schedule without no time can stop us from seeing the bigger picture and can stifle innovative thinking. In contrast, no time induces relaxation that enables innovation to flow.

Modern Trends & The Miracle Morning

Kotler’s research mirrors the trend these days amongst entrepreneurs to have time out, time to meditate and ‘me time’ to recuperate. Books such as Hal Erod ‘Miracle Morning’ recommends meditation/silent time to induce focus and creativity for business success. Hal recommends a 6 step process before starting work:

Meditation/Silence
Visualisation
Affirmation
Reading
Journal
Exercise

Einstein and Steve Jobs

Albert Einstein was a proponent of No Time. He claimed that many of his great ideas came to him when he was doing nothing or reflecting in meditation. Steve Jobs was also a believer in no time and reportedly spent a lot of time contemplating ideas and procrastinating. Jobs and Mark Zuckenberg both went to India and practised meditation with famous Indian mystics.

History showed us that both Jobs and Einstein achieved great things and changed the course of humankind. Thus, the importance of no time has inspired some of the greatest minds of the 20th and 21st century.

Frederick Nietzche and Charles Darwin

Both Darwin and Nietzche claimed that their genius and exceptional creativity was largely due to hours spent thinking alone. Darwin would go for walks along ‘his thinking path’ and Nietzche would walk around for hours in nature to work out the ideas and concepts he had.

Why Time Alone is Important for Your Business

The stereotypical image of an entrepreneur is someone working non-stop with a diary full of appointments. While hard work is admirable, research shows we need time out from the information overload of the world to allow our brains to dive into creative thinking. The University of Utah did a psychological study in 2012 and discovered that subjects scored 50 percent higher in standard tests of creativity after 4 days alone in nature.

Therefore, no time allows our brains to reset and tap into deep reserves of creativity. It is in these times that we may have excellent ideas to optimise our companies for business success.

The Two Hour Rule By Fiona Kerr

Fiona Kerr, author, scientific communicator and staff member at the University of Adelaide, is another supporter of the idea of no time. She has a 2-hour slot every week where she leverages the power of reflection . In those two hours she switches off distractions and questions her work and lifestyle using a pen and notebook.

She asks herself questions like:

“Am I excited to be doing what I'm doing or am I in aimless motion?
Are the trade-offs between work and my relationships well-balanced?
How can I speed up the process from where I am to where I want to go?
What big opportunities am I not pursuing that I potentially could?
What's a small thing that will produce a disproportionate impact?
What could probably go wrong in the next 6 months of my life?”

She finds it helps her to become more efficient and to pre-empt problems before they happen.

Ways To Bring No Time Into Your Life

So how can you bring no time into your schedule to harness the power of your creativity for business success? Here are few ideas:

Wake up early and do writing between 4am and 7.30am. You will be amazed at what you get done without the distractions of the world.
Hold a Walking Meeting in nature like Mark Zuckerberg does. See what effect it has on the meeting and the ability to conduct the business of the day.
Have scheduled times in your day where you do nothing and turn off your phone and social media in those periods.
Try out a morning routine like Hal Elrod’s Miracle Morning
Schedule two hours into your calendar each week like Fiona Kerr’s Two Hour Rule. Use a notebook and pen and reflect on your work and life.
Start meditating for at least 30 minutes everyday.

You never know, you might become the next Einstein or Steve Jobs by allowing no time into your life! Without no time, some of the great minds of the last few centuries may never have achieved what they did.

Interested in owning your own automated business?

There is no time like the present! Pardon the pun!

7 REASONS WHY YOU DON’T HAVE TO BUILD A BILLION DOLLAR EMPIRE LIKE ELON MUSK

Mon, 07 Jun 2021 13:42:02 GMT

Why You Don’t Have To Be A Multi-Billionaire Like Elon Musk, Bill Gates or Jeff Bezos to Be Successful

Jamieson Lee Hill

Success stories are the stuff of myths. Let’s explore 7 reasons why you don’t have to build a multi-billion dollar empire like Elon Musk to make something of your life.

Success Stories Galore - More BS Than A Dairy Farm!

In today’s world, we seem to be perpetually bombarded with the latest news about how much richer Jeff Bezos, Bill Gates and Elon Musk all are. Especially sickening for those who had a torrid time during the lockdowns. But have you ever questioned the myth that is forced upon us that being a multi-billionaire is the ideal dream?

Every week you see a story of an entrepreneur who started a small business and went on to be worth a billion. Now there is nothing wrong with being driven and ambitious like Elon Musk. Setting your targets high is an admirable thing and running a global multinational may make you feel happy and fulfilled.

Nevertheless, being a billionaire is not necessarily the El Dorado that the media promises. You may prefer a life of passive incomes from automated businesses that provide a lifetime of cash flow but with a lower profile.

Becoming a multi-billionaire tycoon building a space race to Mars like Elon Musk’s Space X, or launching satellites or producing electric cars like the Tesla CEO is not for everyone. Focusing on local markets and running an SME can still generate considerable wealth, but without the stress of a billion dollar global empire.

Oh and don’t believe the hype on social media that the famous and super rich people post about perfect lives. Even Elon doesn't buy into it:

"Some of the happiest seeming people — actually some of the saddest people in reality,"

ELON MUSK

International Business Fame Comes At a Price

If your brand gains global fame, then kiss goodbye to your privacy. The world media will know who you are, how you did it and how to be like you. Or worse, they will hate you from afar for your success while feeling mediocre themselves.

Be ready for the media glare and journalists persistently trying to interview you. Worldwide success as an entrepreneur means media attention and hiding away will be hard as Elon will testify. Plus, prepare for any gaffes you make, cue Elon Musk’s Twitter debacles, e.g. cannabis remarks that hit share prices or his ‘paedo diver’ remarks, to become international headlines!

SMEs Are The Backbone of the World Economy

If you believed the global media, you would be inclined to think that Microsoft, Apple and Google have the most influence on people’s daily lives. But the actual truth is they are often faceless giants in comparison with the daily interactions people have with SMES in their communities. SMEs are the backbone of the world economy.

Also, small and medium-sized businesses may serve your locality with charity projects as forces of positive change. SMEs might not make billions each year but they are still an essential part of the local and national economy.

Expanding a Company to be a Billion Dollar Concern Means More Complications and Stress

Expanding your business means the whole process becomes much more complicated. For one thing, operating in different countries means you need experts to ensure align with the culture of each location.

Also, you have to comply with local legislation and taxation, so that means lawyers and accounting professionals. You will also have to recruit new staff, so you will need a bigger HR team. Global success quickly means a steep learning curve; you go from leading a small team to having hundreds or thousands of staff. Each decision you make has the potential to affect many different lives. Plus off-the-cuff, Elonesque remarks could have a big impact on share prices and jobs.

Having an automated online business with global brands like Uber , AirBNB, and IStorelabs can bring in regular cash flow every month without the stress of global expansion or managing big teams. You won’t earn billions but you can still earn hundreds of thousands of dollars or pounds a year or even millions, But minus the stress of leading a multinational like Elon Musk and Jeff Bezos

More People Prefer To Support Their Local Businesses

When it started out the ‘ Buy Local, Think Global’ movement was relatively small. This motto for sustainable eating has since become a global movement. The truth is a lot of people got fed up with the dominance of multinationals and preferred the competition of local and national SMEs. Also, it gave consumers a choice to shop locally and feel good about supporting local businesses. Visiting the local baker or wine merchant is not like ordering from some faceless and impersonal multinational.

It is healthy for SMES to take their share of the market and it puts money into the local and national economy and secures jobs for locals. Setting up your own Digital Marketing or Facebook Social media firm is a great way to be part of the SME economy. Or another popular trend is to run a Networking Events Company.

So whilst creating eco-friendly, electric cars and building civilisations on other planets (Elon Musk on Mars) may be exciting, it is the SMES that are the spine of the community, not Elon’s Tesla or SpaceX Mars

Be Driven By Passion Not Money

Ask Elon about his own motivations. Elon may be on the world’s richest people, but he was driven to get into business by a passion and purpose to bring about change. It wasn’t just about becoming a famous billionaire. Those were by-products of his determination and focus.

The takeaway for us all is to focus on what you love, not on becoming a billionaire and thinking that is the ultimate goal. You can still be rich without all the stress. Elon Musk was thinking about the impact of his businesses rather than becoming outrageously rich:

“I didn’t go into the rocket business, the car business or the solar business thinking this is a great opportunity, I just thought, in order to make a difference, something needed to be done. I wanted to have an impact. I wanted to create something substantially better than what came before.”

ELON MUSK

Still Not Convinced?

A day doesn’t go by without hearing about Elon Musk and cryptocurrency or some tale of Elon Musk’s companies. If it is not Elon, it is Bill Gates or Jeff Bezos blasted cross the pages of international media.

So despite the ground we’ve covered, you may still be itching to be the next Elon Musk and have your own billion dollar empire. If that is the case, we don’t want to put you off. But just realise that the media is piping more BS per second than rice is eaten in South East Asia about the billionaire dream because it brings in readers. Instead, base your success and happiness on the goals that matter to you and don’t be drawn into the media hype.

There are plenty of ways you can set up and run automated online businesses which will make you 6 or 7 figures a year. Plus you can retire before you’re 40 in many cases. But that doesn't have to be at the expense of your privacy or being stressed out running a global empire. Passive income from automated online businesses is the best choice for a better quality of life, not false dreams of multi-billion dollar empires. That is what we call Smart Entrepreneurialism!

5 Ways To Earn Extra Income While Working in a Full-time Job

Wed, 02 Jun 2021 12:58:42 GMT

You’ll Never Get Rich Working for Someone Else, so Start a Side Hustle

In uncertain times earning extra income while working full-time is a sure way to secure your future. Plus, one day you may decide to give up work and live off the passive income streams. It is a win-win scenario! Let’s look at some of the best ideas for side income:

Start A Domestic Cleaning Business To Earn Extra Income While Working

Cleaning businesses are on the rise, especially in the time of Covid where rigorous cleaning is a top priority. With digital technology, you can actually run a remote cleaning business using a website and app without ever lifting a cleaning cloth or meeting your staff face to face.

Equally, a remote automated cleaning business can be expanded, so you operate in several different cities. One franchisor generated 20k of turnover a month in their first 12 months. Investing in an automated domestic cleaning business can earn you 7 figures within 2 or 3 years if you scale it and expand to multiple locations.

Create an Online Resource, eBook and Start Content Marketing

Writing an e-book and/or online course in your area of expertise is a solid way to earn passive income. Once the e-book or online course is live, the automated process means that the money flows in while you continue your day job.

Of course, it requires hard work and focus to design the book or course in the first place, but once you’re up and running, you just have to put in a short amount of time each week to keep sales ticking over.

If you really enjoy writing and creating content, you may want to go the whole hog and start your own digital marketing agency. The demand for digital marketing services is very high with the boom in online businesses. Secondary income streams give you security during a time of worldwide uncertainty.

Here are some suggestions for digital marketing businesses:

Leverage the Power of E-commerce with an Amazon or Shopify Business

E-commerce is accelerating its growth year on year. In 2020 more than 2 billion people bought products and services online and $4.2 trillion dollars were spent worldwide on ecommerce.

The time is ripe to get a piece of the action and one very successful automated ecommerce business opportunity is iStoreLabs. They build fully managed online stores for clients with a money back guarantee to profitability.

Their team of cross-sector experts source profitable products, list them on your eCom store globally, and then fulfil incoming orders, manage inventory, customer service. The end to end process is fully automated and payments are made directly into your bank account every two weeks. This is an excellent way to earn extra income while still working in a full-time job.

IStoreLab s takes a percentage of your profits depending on the package you’ve signed up to. One two-year old IStorelabs business sold $42k of products in 7 days, so your extra income could replace your full time job in a few years!

Cash in on the Sharing Economy

The share economy was pioneered by companies like U ber and AirBNB . What started as a casual way to earn a few hundred dollars a month to supplement your income is now big business.

AirBNB has gone one step beyond where you don’t actually rent out your own spare room but instead you can invest in a fully automated AirBNB business.

AirBNB has a proven track record of setting up and managing profitable property businesses like this for the past 4 years. With your invested capital, they set you up with a completely automated property business by leveraging the million daily active users on Airbnb, VRBO, Expedia and Bookings.com.

The business model is designed to create profit by leveraging investors money to generate bookings for high traffic properties.

Invest in a Networking Business To Host Events

Running a Networking Events group with your own Events Membership Business can be a great side hustle which you can set up and manage during your evenings and weekends. This work from home business is a fantastic opportunity.

You can operate 80% of your time over the phone and 20% networking or running your local events. Ideally, you will have good knowledge of the area and business connections. The business can be fully operated through the use of a laptop, headset and internet connection.

With a networking business you can have face to face and online events or hybrid ones which are a mix of both. The franchise we recommend even managed to earn $4k a month during Covid and lockdowns which shows how resilient this type of business is. A brilliant opportunity to earn extra income while still working a full-time job!

We hope these ideas for passive income streams have inspired you. Whichever way you choose to earn extra income, don’t procrastinate! Remember the words of William Shakespeare:

“In delay there lies no plenty”

William Shakespeare

Financial Freedom: How To Build Multiple Passive Income Streams!

Wed, 26 May 2021 12:29:56 GMT

Two people that retired early on Passive Income Streams and How you can too

Retiring earlier and travelling the world is an aspiration for many people, but doing it before the age of 40 is next level! We look at two successful entrepreneurs who retired early gaining financial freedom through passive income streams. Financial Independence, Retire Early (FIRE) is a movement which is dedicated to investment and extreme savings, so that people can retire decades early. Let’s dive in...

Financial Freedom Through Passive Income Streams For Michael

Michael Quan is living the FIRE dream, retiring at 36 with 3 passive income streams keeping him and his family financially comfortable. In fact, he was able to walk away from his day job at least 2 decades early.

Seeing his uncles achieve financial freedom at a young age spurred him on. Michael built an IT company and then sold it to a private equity firm. Subsequently, he reinvested the earnings from the sale. The three main ways Michael set out to get his passive income were:

Real estate
Dividends
Blogging

His motivation for financial freedom was to spend more time with his baby daughter and his wife. Currently, Michael is 44 years old and his finances are still growing. He has achieved financial freedom through these following passive income streams:

1. Real Estate

Michael made $59,000 from real estate investments in 2020 which is almost 80% of his passive income. His real estate portfolio consists of three properties which bring in a regular monthly income. Property number three is rented out via Airbnb. Also, he is also part of a family real estate investment company in California and has a 5th property in San Antonio.

2. Investment Portfolio

In 2020 he made $13,000 from dividend payments and he owns other funds and stocks. Each year he reinvests the earnings into his investment portfolio, so it keeps increasing. This accounts for about 16% of his total passive income.

3. Blog Earnings

Michael’s blog helps others to reach financial freedom via passive income streams and he has written a book. With income from affiliate marketing, membership fees, ads etc, the blogging brings in about $10,000 a year.

Rachel Richards, a Champion for Women’s Financial Freedom

Rachel Richards didn’t want massive debt from student loans. Being resourceful, she managed to pay her college fees in Kentucky, USA with scholarship money and selling knives.

At 28 years old Rachel retired early because she had $16,000 a month passive income. Reading and delving deep into money management, she worked out a strategy for success. It took about 8 years.

After graduating from college, she worked in finance and saved half of her annual salary of $42,000. This was because she had no student debt and she lived simply. She was passionate about giving financial advice to others and her job led to cold calling for a number of years to expand her customer base.

Next, she worked in real estate and later became a financial analyst earning $75,000 a year. Then after 3 years, she retired at 27 to concentrate on her passive income projects. Prior to 2017, neither her or her partner had side incomes or businesses. However, they were determined to reach financial freedom by passive income streams.

They started by investing in a $100,000 property using money they had saved. Over two years they expanded their property portfolio and bought six properties in total with 40 units.

Rachel also earned commission from her real estate sellers as she was their agent too. They stopped buying properties in 2018 and now they earn $8,000 a month from real estate. It takes about 10 hours a week to manage.

Selling Her Book on Amazon

In the evenings after her real estate investments, Rachel focused on writing a book about financial advice. Her objective was to make personal finance accessible and easy to follow with her first book ‘Money Honey’.

She chose to sell it on Amazon because the royalties were from 35 to 70% compared to a meagre 10 to 15% from publishing houses. Her second book brought in $4,000 a month and her 8-course she designed another $4,000 a month.

Exceeding their targets

Rachel and her husband set themselves a target of generating a passive income of $10,000 a month but they hit $16,000 a month. They have achieved financial freedom and they travel a lot, live in a large house and spend about $8,000 a month.

A Role-Model for Female Entrepreneurs

Rachel is an inspiration for women. Her business is focused on giving personal finance advice to women and writing books/courses to help other women gain financial freedom. Hard work, belief and reading have helped her achieve retirement at 28 years old. She has shown other women the way forward to attain multiple sources of income and financial freedom.

Multiple Streams of Income Ideas For You

Michael and Rachel worked in a number of sectors between them including real estate investment, AirBNB, Affiliate marketing, Self-publishing books and online courses, selling on Amazon.

We have put together a list of recommended automated businesses which can help you achieve financial freedom through passive income streams in similar ways to Michael and Rachel:

For more information, please click the button below:

Stop Procrastinating: What’s Stopping you from Starting an Online Business?

Tue, 18 May 2021 11:13:15 GMT

Procrastination and How to Overcome It

"It's a job that's never started that takes the longest to finish."

J. R. R. Tolkien

Whether it is starting a business, writing a book or travelling the world, procrastination is the enemy of success. It is time to stop procrastinating and realise your ambitions!. Let’s explore how!

Why Do you Need to Stop Procrastinating?

You owe it to yourself to be the best version of you. If you delay, put off, postpone or hold off with your aspirations, they simply won’t happen. You can’t dawdle, hesitate or shilly-shally if you are going to succeed in life.

What is Procrastination?

According to the Cambridge dictionar y, it is: ‘the act of delaying something that must be done, often because it is unpleasant or boring.'

How many times have you thought about starting your own business, but then a few days later you talk yourself out of it? You fall into the procrastination trap because you doubt your own abilities.

One of These Days...

How many people have you met in your life who have said they are going to write a book ‘one day’? The proverb ‘One of these days, is none of these days’ rings so true. You have to stop procrastinating and just do it or it will never happen!

Procrastination and Anxiety

At the seat of our procrastination are often emotions blocking us from taking action. We might not start a new business because we are anxious about rejection or failure. Procrastination is often caused by anxiety, stress and not valuing ourselves according to the Business Mind Coach David Rahman .

“I believe 100% that our life can change direction and change everyone around us.”

David Rahman

Procrastination: The Science Behind it

In layman’s terms, procrastination is when the limbic system or emotional part of the brain dominates the prefrontal cortex or rational part of the brain. E.g. Sitting at your desk, your logical part of your brain knows it has an important task to do. However, your emotional part of your brain is anxious about the task and instead you procrastinate by checking your social media.

Procrastination is a habit

There is a common misconception that procrastination is about time management. However, it is about self-discipline and managing yourself. As the great Bruce Lee once said,

“The successful warrior is the average man, with laser-like focus.”

Bruce Lee

Ted Talk - Procrastination

Here at Love My Businesses we love a good Ted Talk. We recommend the fabulous Tim Urban for tips on how to stop procrastinating.

Stop Procrastinating And Start An Online Business

Here is a list of tips to overcome procrastination and start an online business. These tips are useful for daily life as well.

1. First things first

If you have been talking about starting a business for years, sit down and brainstorm a list of your skills and work experience. Then write a list of possible online businesses you could run. Narrow it down to your top five.

2. Write A List

Write a list each day of the tasks you need to do to start your business. Divide your daily tasks into order of priority: priority tasks, less urgent and things which can wait.

3. Avoid Time Thieves

Family and friends and Social Media are our biggest time thieves. Don’t answer non-work messages until after work. Be strict and protect your valuable work time to build a successful business.

4. Schedule Your Routine

Use Google Calendar or another tool to set appointments with yourself to do the essential tasks: e.g. write a business plan, find an accountant, open a business account, attend a training course etc. Also set yourself daily tasks for lead generation, marketing, sales appointments etc.

5. Negative Emotions and Overthinking

Be aware of the emotions you experience when you procrastinate e.g. did you put off phoning a friend for business advice because you were worried they would decline? Did you delay talking to your bank manager due to nerves? Don’t overthink things. Just go for it.

6 . Reward Yourself For Overcoming Procrastination

Behavioural psychology suggests that habit formation is reinforced by rewards, so if you manage to break a negative habit and start a new cycle you should give yourself a treat e.g. after a difficult task watch your favourite TV series for 30 minutes.

7. Procrastination Ends Here

Our ethos at Love My Businesses is to encourage entrepreneurs to step out and realise their dreams. Stop talking about people you know who have made it big in business and do it yourself. Change your habits with self-discipline and have the courage to start a business.

For some great examples of online businesses you could start, click the button below:

BE THE CHANGE!

Where to Find Online Business Opportunities: The E Commerce King

Tue, 04 May 2021 16:19:36 GMT

The Amazing Tale of Kamil Sattar on Channel Five’s ‘Rich House, Poor House’

Here at Love My Businesses we love a good success story. One of our favourite shows is Channel 5’ ‘Rich House, Poor Hous e’. In this blog post, we hear how one highly successful entrepreneur inspired one woman in financial difficulties to believe in her own ability to run a successful business. We are also going to explore where to find online business opportunities.

Where to Find Online Business Opportunities: Kamil Sattar

Kamil Sattar , aka The Ecom King, is a British e-commerce entrepreneur. He founded and is the partner for more than 3 companies in a variety of sectors including digital marketing, drop shipping, luxury goods and ecommerce. The annual sales for his portfolio of companies is in excess of $3 million dollars.

Another string to his bow is that Kamil teaches other business owners and their staff about ecommerce. He mentors and guides businesses to expand their ventures into 6 and 7 figure revenue streams per year. Kamil is the real deal and knows where to find online business opportunities.

Rich House, Poor House

In 2021, Kamil and his partner Francesca featured in national media and on the popular TV show ‘Rich House, Poor House’. The main concept of the programme is that two couples swap lives for a week and live in each other’s houses. But the twist is that they have to live on the other couple’s budget and do their daily tasks. The one couple is always rich and the other poor.

Kamil and Francesca are both highly successful entrepreneurs and they swapped lives with another Birmingham couple Mel and Sophie. Kamil was shocked that this couple with a baby spent £8 a day on food for three people. In contrast, Mel and Sophie got to spend Kamil and Francesca’s usual disposal income of £1750 a week.

An Amazing Act of Philanthropy

When they all came together at the end of the week, Kamil was moved by the couple’s struggle and offered to design a website for Sophie’s small art and design business. He also offered to mentor her in digital marketing and business and show them where to find online business opportunities.

Both Mel and Sophie were shocked by the amount of money that Kamil earned each month. He showed them how it was possible to earn in excess of £8,000 a month. Sophie asked why more people weren’t getting into industries such as digital marketing, e commerce and drop shipping because she realised the potential to earn high revenue each month.

What Opportunities Are There with Love My Businesses?

Kamil is a 21 year old self-made millionaire who left school without any qualifications. He is currently bringing in $3 million dollars a year in sales. Ecommerce and Digital Marketing are two of the sectors in which he has made his fortunes. Love My Businesses offer automated businesses in the same sectors which can give you a 6 to 7 figure business within a few years. Our mission is to show you where to find online business opportunities.

Let’s have a look at some automated online businesses which we recommend. All of the following require an initial capital investment. Whether you are setting up your first start up or an entrepreneur with an existing business looking to expand, these are proven business models:

Ecommerce Opportunities

Online E-Commerce | Low Overhead, High Profit Business Model

Our very latest business is an online e-commerce business . It is your chance to have a completely automated hands off business that allows you to collect high commissions from everyone that signs up to your offers & products. We call this affiliate marketing.

About: Asking Price: $19,995

We created a program to allow investors to raise monthly cash flow guaranteed with our business model which does not require any of your time and is completely done for you. We have a proven formula which works for anyone. We know some of the most in-demand niches and offers people all around the world are loving and we are collecting percentages off each sale we make. These offers are educational, how-tos, training, courses and much more! This program includes the following:

One niche with two offers
Two custom landing pages
Full Click bank setup
Custom content for advertising
Social media pages
Facebook advertising/management
Instagram advertising/management
Email marketing setup/management
Solo ads for massive traffic
Customer support 24/7
Weekly data & analytics review
Coaching and training (optional)
100% profits of 1k monthly

iStoreLabs | Fully Managed and Automated eCommerce Store Amazon

This completely automated Amazon/eBay store will function without your effort. Profits will be tracked daily through your mobile application. Realistically generate at least £5,000 in 6-9 months. With a simple set up process this is a hands free, affordable venture for anyone that wants to make their money work for them.

All Done Consulting | We Build and Grow Your eCommerce Store on Shopify

With our Shopify program we build you a personalized online store, handle product research & shipping, while also managing your paid advertisement campaigns.

Digital Marketing Opportunities

SocialCommand | Start a Digital Media Agency!

Welcome to the wonderful world of social media, as an official social command partner you can add this bolt on service to your business or use our services for a dedicated Social Media Business that gives you white label social media products to sell to your clients / customer’s and has the full support of one of the UK’s top Social Media companies.

Facebook Marketing Agency | Own a fully functional, money-making marketing agency

What if I told you that 6 months from now you could run your own Facebook Marketing Agency that brings in new clients on repeat…despite having no prior knowledge of marketing or Facebook advertising? Click below to find out more.

Blam | Digital Online Marketing Agency With Massive Revenue Potential

Blam Partner. Become a tech entrepreneur with your own Digital Marketing Agency, no experience required, just a thirst for knowledge and a passion for helping businesses become successful online.

Your Future, Your Dream

The core difference between a successful entrepreneur and a person who stays stuck in the same daily grind, is they take steps to build a better future. Kamil Sattar, in his own words, was ‘destined to fail on paper’, but he managed to create a 7-figure business empire.

Here at Love My Businesses, we are masters at providing robust, tried and tested business models. Some of the businesses are hands on and others offer a passive income via a fully automated business where you sit back and collect the revenue from your capital investment.

Whatever the model you seek, CONTACT us now by clicking the button below:

"Opportunities don't happen. You create them."

-- Chris Grosser, Tesla

Where to find online business opportunities: AirBNB Fully Automated and Managed

Sat, 24 Apr 2021 12:07:45 GMT

A lifetime of cash flow through an Airbnb Business

Whether you are looking to set up a second business or to invest capital from redundancy, retirement or another source, a fully automated and managed Airbnb business is an excellent opportunity. It can provide you with a passive income that is a cash flow for life. Let’s find out more..

Where to find online business opportunities: Airbnb Automated

From humble beginnings in 2008, it is now a massive international company. Becoming an Airbnb Entrepreneur isn’t about renting rooms out in your own home. This is a fully automated and managed business where our teams run properties for you in high demand areas to maximise your profits. So let’s dive in and first find out how Airbnb started..

How did Airbnb start?

Joe Gebbia, Nathan Biecharczyk and Bryan Chesky started Airbnb by renting out rooms in their own home. To save money they used air beds for guests which is where the name came from. They started off with a simple Wordpress site and were in debt. They provided guests bed and breakfast for $80 a night. They first started when they saw that a Design Conference was being held in San Francisco and most of the hotels were booked out.

In the early years, getting investors to scale the business proved difficult as it was not taken seriously. Undeterred, they raised money by designing and selling novelty breakfast cereal. This made $30,000!

Having only started in 2008, it is now valued at $75 billion dollars in December 2020. From those early origins, there is now the chance for you to own your automated franchise and enjoy a high net profit yield. So if you were trying to find online business opportunities you have arrived!

How Much is the Investment To Start an Automated Airbnb business?

The one time investment is £24,995 to start your business. After that, the management team cover all the ongoing expenses. It is one time investment.

So How Can You Trust That It Will Work?

This fully automated and managed Airbnb business is designed to earn you cash flow for a lifetime without you having to deal with tenants, maintenance or customer service. You simply invest and then wait for the Passive Income to flow in.

For the past four years we have had a solid track record of setting up and managing profitable property businesses. We help tap into the million daily users on Airbnb, VRBO, Expedia and Bookings.com.

The Business Model leverages the money from investors to get bookings for properties in high demand. In addition, the business model has shown itself to be pandemic proof as demand has grown during Covid 1. This is because people want to feel ‘at home’ while on holiday or business and at the same time socially distance.

What are the Benefits of an Airbnb Business?

The Core benefits are:

TANGIBLE ASSETS: You get a tangible property that you can visit within two to four weeks.
CASH FLOW: Within 90 days of starting you will start to receive your cash flow.
ABSENTEE OWNER : - The business is 100% absentee, so you don’t have to be hands on as our team run it for you.
TRIED AND TESTED: We have a 4 year track record with 35 properties and 25 clients
PROPERTY PROVIDED: You don’t have to rent out your own home. We source and manage a property for you.

How Does the System Work?

This business is managed for you and is fully automated. You just have to collect the revenue and process your tax claims. Our 5 highly trained teams include:

Real Estate Agents:

Our expert team of real estate pros search for the best property deals in high traffic areas. All of the properties are leased because this flexibility allows us to scale and expand your portfolio in line with demand.

Interior Design Team

Our interior design team creates stunning properties that impress prospects and attracts repeat customers.

Content Marketers

Our team of content professionals capture high quality images and ensure that your listings are featured on the top four platforms on the web. This ensures regular bookings and high recurring revenue.

The Maintenance Team

Our dedicated security team and property managers manage all the issues with tenants and protect your investment. You can sleep soundly knowing that all is in good hands.

Housekeeping Management

Our housekeeping team works hard to ensure your property is dazzlingly clean for guests. Five star cleaning services for a five star business.

For more details watch the video.

What are Your Main Tasks in the Business?

You have to do two things:

Set up your own business to be able to receive the monthly profits.
Process your tax returns.

This is a passive income opportunity where it is all automated and managed for you.

What is Included With Your Airbnb Franchise?

A tangible property that you can visit anytime you need.
Real time reporting with emails, photos and phone calls when your property is purchased, and fully furnished.
Monthly reports about the progress of your business.

A Full Time Dedicated Team Assigned to:

Secure a profitable property
Furnish the home to generate high ratings repeat buyers
Deliver clientele to collect consistent bookings
Manage the home client disputes
Cleaning the home

Summary

We all know £24, 995 is a sizable investment, but once you explore our proven business model, you will see that it is a lifelong income generator for you. After you make the one time investment, all the other costs are covered by us. With a 12-month money back guarantee, you have peace of mind. Don’t hesitate to get in touch, click the button now and get more information:

“Forget past mistakes. Forget failures. Forget everything except what you’re going to do now and do it.”

William Durant, US Automobile Pioneer

Types of Online Business Worth Investments: Fully Managed and Automated Uber Business

Thu, 22 Apr 2021 08:58:27 GMT

How You Can Become an Uberpreneur

Owning your own Uber fleet is a once-in-a-lifetime opportunity to achieve financial freedom by building your own seven-figure business. You don’t need to drive or do any maintenance or customer service. You’re simply the owner. This article is one in a series about types of online business worth investments.

Types of Online Business Worth Investments: Is it safe?

With our proven track record of setting up and managing profitable transportation businesses over the past 5 years, this is a very secure opportunity. We set you up with a completely automated Uber business. Your Uber business will tap into the 14 million daily users of transportation and food delivery apps to get regular recurring revenue in an industry that has grown massively due to increased demand in the pandemic.

So how much is the initial investment?

This franchise opportunity requires a capital investment of £24,995. This initial investment can be grown into a seven-figure business within a few years.

What is Included in the Uber Automation Package?

15 hours of training
Tangible saleable assets
A proven 5 year model with predictable and scalable cash flow.
A dedicated team tasked to scale your business
A Full-Time Dedicated Team Assigned to:

Research quality cars that attract quality riders
Create a pipeline of hard-working 5 Star drivers committed to working for your fleet.
Train + Manage your organization.
Handle the maintenance of your vehicles.
Report to you with financials + a plan to scale your business.

12 Month Money Back Guarantee Included!

What are the benefits?

You will get an immediate cash flow within 2 to 4 weeks that can quickly be scaled. The beauty of this opportunity is that your Uber business can be 100% absentee. However, there is also a 15-hour training package for buyers that prefer a hands-on approach.

The well-tested methods provide you with tangible assets and employees and with our 5-year track record of producing over 700 successful students you know that you are in safe hands. Furthermore, you will receive 20 automated clients in multiple markets around the globe. Watch the video to find out more.

What Steps Do We Take For You?

First of all, we set you up with Liability Contracts for you and your drivers. We use existing scripts from the hiring of more than 100 successful Uber drivers.

Next comes Asset Acquisition . Basically, we use your capital to secure cars and create partnerships with used car dealerships. This approach helps your Uber business expand more rapidly.

We then Optimize Your Fleet by giving you software to track your cars 24/7 and explain which insurance to use. Also, we demonstrate how to improve the ratings of your rides and the profitability of your business by providing your guests with amenities. We show you how to automate the management of everything.

The next step is Driver Procedures . We will hire top-quality, hard-working drivers , do the branding for your fleet, and set up driver schedules. This includes the cars, expectations with checklists, and locations to maximize the profitability of each trip.

Now it is time to Start Getting Paid ; you will start to get cash flow from each active car. You can regularly optimise the fleet to improve the profitability and productivity of each driver.

We Leverage Your Time by automating operations; hiring managers for every 5-10 cars so you don’t have to wash cars, talk to customers or handle the car maintenance. There is no need to be hands-on!

We help you Build Your Empire by scaling your fleet to manage more cars. Every step of the way we help you increase the profitability of every aspect of your business. This is definitely one of the types of online business worth investments.

What Steps Do You Need To Take?

REGISTER: Firstly, you need to register a business, either a Limited Liability Company or Limited company is what we recommend. Then, the next thing is to file for an LLC/LTD with your state/province/relevant authority.

OPEN ACCOUNTS: Subsequently, you Open Uber + Lyft accounts and synch your business account with the Uber App for money transactions.

REVIEW PAPERWORK: Review all the legal/ insurance documents.

PAY WAGES: Reward your hardworking Uber drivers + managers by paying them bi-weekly.

Uber is a brand associated with success across the planet. Setting up your own automated and fully managed fleet is the pathway to achieve the freedom you seek. A seven-figure business that you can sell on in 2 or 3 years is awaiting!

We hoped you enjoyed this article on the types of online business worth investments. Stay tuned for the next article on AirBNB!

Excited? Get in touch now and click the button to get more information! BE THE CHANGE!

How To Choose A Six Figure Online Business Opportunity After Losing A Job!

Mon, 12 Apr 2021 11:04:20 GMT

Building a Million dollar Cleaning company from Nothing

Losing a job is never going to be easy. In Michelle's case, it led her to make a decision that changed her life forever. Michelle lost a steady job in insurance in Chicago. It was not easy knowing how to choose an online business opportunity. Read on to find out what she did...

Losing A Job

First of all, she decided to move to a city in Florida where her parents were living. She also went back to study Business Studies at college. While studying, she came up with the idea to earn money cleaning people’s houses. Her mother thought it was a crazy idea as her daughter’s own bedroom was very untidy. Undeterred she started her side business, even though she wasn’t sure how to choose an online business opportunity.

Writing her First Business Plan

She wrote her first business plan in class at college. In her own words, she was ‘making it up as she went along’. But as the business started to take off, she added employees too. Losing a job was the catalyst but it took courage to know how to choose an online business opportunity.

Amazing Growth

Amazingly, her small side business grew and grew and today she has 100 employees. She went from having meetings in a carpark running the business from the boot of her car to getting 5 company offices in 5 different US counties.

Her Mantras For Success

Her mantra for success is ‘Just take action and do it. Don’t be afraid. Just go for it!” If she had listened to her mum, she would have never started the business. Sometimes in life friends and family won’t believe in our vision but we need to follow our instincts for success.

Most people are too afraid to leap into the unknown after losing a job. They stay stuck in a job they hate and don’t know how to choose an online business opportunity. Michelle had the courage to do a completely new business venture after losing a job.

Life-changing Events

Losing a job, being made redundant or countless others reasons can seem like a nightmare come true. But if you have self-belief like Michelle, you can realise your dreams of a high annual income and the freedom of being your own boss.

Scaling Her Business

Michelle reached the point where she realised that she wanted to expand her business, staff, and revenue. She did that by buying into a domestic cleaning franchise.

Automated Domestic Cleaning Business

One of Love My Businesses' most popular automated businesses is domestic cleaning. Had Michelle had the same opportunity when she started out, with an LMB franchising opportunity she could have scaled her business much faster and with greater ease.

With Covid 19 across the world, a domestic cleaning franchise is one of the most profitable businesses you can set up. A 20k turnover each month is achievable within a year.

Remote Management

First of all, you need to invest £9,995 (or the equivalent in your currency) to start your automated domestic cleaning business . Michelle was very much hands on in the early stages of her business, but the Love My Businesses model means you never have to meet the cleaners. Also, you don’t need to reside in the city where you operate. All you need is a laptop, headset and internet connection

How Does It Work?

The franchisor advertises the business through various online marketing channels. Then the customers can place an order online for cleaning services on your company website. Once the purchase goes through, you receive an email and so do they.

Next, you assign a cleaner to that particular customer and the cleaner goes to the location to do the job. The cleaner checks in and out with a special app. The app notifies you that the job has been completed and you can then charge the customer’s credit or bankcard.

Customer Feedback

The day after cleaning the customer receives an automated email to rate their service. That way you can monitor your staff and give them feedback. Coupled with this you can use a Virtual Assistant to do your administration so that the business is 100% automated. You will never need to lift a cloth or bucket. You can run this business from home using Wi-Fi, a laptop, and a headset.

Mop Up!

Michelle made a million dollars with her US domestic cleaning business. Changing to a franchise structure helped her expand considerably. If you are serious about building a successful business that is fully automated Click the Button Below NOW:

Why People Hate Their Jobs & 7 Steps To Escape The Rat Race

Wed, 07 Apr 2021 07:52:21 GMT

Key reasons people are quitting corporate to be online business owners (and how)

Do you wonder why people hate their jobs? Are you tired of working long hours to fill the pockets of company owners? Do you want to escape the rat race and have your life back on your terms? Is your boss an arsehole? Burnout? Fed up of being told to ‘go the extra mile for pitiful pay? Let’s dive into this...

Goldman Sachs: Why People Hate Their Corporate Jobs

The recent Goldman Sachs’ story showed why people hate their corporate jobs. Working 95 hour weeks leads to burnout, so there is growing demand to to escape the rat race and corporate slavery. The shocking story broke in late March about 12 Goldman Sachs’ employees who endured:

1) Five hours sleep a night

2) Bad treatment by corporate bankers

3) Intense effects on their mental and physical wellbeing

In a BBC article, one employee said it was ‘arguably worse’ than the experience they had in ‘foster care’ and another said the working conditions were ‘inhumane/abuse’.

Digital Marketing Exploitation

Also, recently the BBC ran an article on a woman of 22 who had worked in a Digital Marketing company. She was expected to work 12 hours a day Monday to Saturday in a ‘cult-like environment’. In the end, she quit and now she is working 37 hours a week in a civil service job. She has her life back. Stories like this show just why people hate their jobs and strive to escape the rat race.

Corporate Slavery is not New!

Now hold on a second; this story isn’t new. In 2017 a Gallup poll across the world showed that a staggering 85% of people hated their jobs and in particular their boss.

That meant only 15% in the world felt engaged in their jobs. Gallup drew the conclusion that it was largely due to management from the baby boomer generation failing to engage and meet the needs of their younger staff. So just why do people hate their jobs and seek to escape the rate race?

7 Reasons Why People Hate Their Jobs

‘ My boss is an arsehole!’

How many times have you heard that said? No one wants to spend time with someone they don’t like. Getting up early in the morning and working long hours for someone you despise and who doesn’t care for you is a total motivation killer.

Colleagues

As hard as you try there will always be people at work you can’t get on with. Going to work and being with people you simply can’t stand is slow torture. If you had your own online business , you could choose who you work with.

Cognitive Dissonance

Your dreams may be sucked dry and spat out by the grey corporate machine. Cognitive dissonance is when the company values do not align with your own and you are doing work you find unethical and mind-numbingly boring.

Commuting Hours

Since Covid began this factor hasn’t been so prevalent with homeworking, but consider that on average we spend a third of our lives at work. Add to that the hours you spend on a train, bus, underground, or stuck in traffic each day.

Stagnating at work

Doing the same jobs every day with very little variation can feel like painfully slow growth and many companies fail to offer real progression to staff. It can feel like you are existing in a working hell.

Long hours but no big rewards

Possibly the worst scenario is when your company wants you to work over 50 hours a week, but not reward you properly. The company may be thriving off all your overtime but you aren’t seeing much of the pie.

Affected by Bad Decisions

You have to mop up the aftermath of bad decisions that affect customers and staff alike. Maybe it’s time to become the decision-maker yourself and be your own boss?

7 Steps To Take To Escape Corporate Slavery

Have you reached the end of your patience? Are you ready to escape the rat race? Don’t be one of those people who talks about it for years but never does anything and ends up living in regret. Right here, right now, do the following:

Step One

Sit down and think of online start-up ideas that appeal to you.

Step Two

Make a list of all your skills and experiences in your working life.

Step Three

Think of all the people you know who run businesses and ask them how they started.

Step Four

Look online for guides to starting your own business. Check out the most profitable online businesses you could start.

Step Five

Research the market and identify a niche and demand for certain products and services. Then choose your sector and product/service range.

Step Six

Write a business plan and work out your costs and sources of finance. Check out the appropriate business plan guidelines for your country:

UK Government

USA Government

Business Development Bank of Canada

Australian Government

Step Seven

Choose a name for your business and set up a website. You are now ready to start your own online business!

Go For It Now!

Now is the time to take the leap. If you aren’t sure which type of online business is for you, just take a look at the businesses we offer . Don’t hesitate! You know you hate your job and your boss drives you mad. If you don’t do it now, it might never happen.

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Successful Ecommerce Business: Adam Built a $100K Online Side Business in 12 months!

Sun, 04 Apr 2021 12:44:10 GMT

Case Study: A Man Who Quit His Day Job After Building An Ecommerce Business

Today we are looking at how Adam escaped the rat race grind to become a successful ecommerce business owner. A leap of faith and a team of experts to back him and within a year his online side business allowed him to quit the day job he hated.

Description of the Subject: The Dream of a Successful Ecommerce Business

Adam had no previous experience of running an ecommerce business but it was a long-term ambition he held. He saw it as a risk but that didn’t stop him. Of course he had worries of whether it would work and if he would get out of his depth.

Subject’s Goal

His main objective was to create a sustainable and successful ecommerce business within 12 months to leave his day job. He was tired of working long hours with little reward. An online side business was a great escape route. His current company owners were getting rich off his hard slog and he wasn’t seeing the benefits. One of his friends, Tina, had started a business 2 years ago and it was now a successful ecommerce business. It was Adam’s time to take the plunge.

Hypothesis for Strategy

Without any prior experience of running a successful ecommerce business, Adam opted for iStore Labs. He knew that iStore built fully automated online stores for franchisees. With the iStore team of experts sourcing profitable products, he felt confident that his dream of a successful ecommerce business would come true.

Implementation of Strategy

The iStore team has a wide range of expertise and they successfully chose profitable products for Adam’s online side business. They listed them on Adam’s eCom store globally, and fulfilled incoming orders, managed inventory and customer service. All in all, it was a fully automated online store. They took care of e commerce website design, e commerce seo and everything relating to e commerce development.

The end to end process from sourcing and updating the product line, to order fulfilment, was performed continuously every day. Then payments were made directly into Adam’s bank account every two weeks. (iStore Labs take a profit share fee depending on the chosen package of each franchisee.)

Results of the Strategy

After 12 months Adam’s online business was generating $100, 000k in revenue a year. Adam had peace of mind with the 24/7 Customer Service Call centre staff always on hand to handle any sales queries or post-sales queries.

The team of ecommerce analysts only sourced and selected profitable products from trusted suppliers, so Adam knew his lack of experience didn’t matter. With expansion planned, his successful eCommerce business is set to grow.

Concluding findings:

Adam was attracted to the iStore Labs opportunity because of the low set-up costs, guaranteed profits, fully managed e-commerce that provided a passive income. He was persuaded by iStore’s 3 Year Track Record with over 200 live accounts and almost 2,000 successful clients. He now knew it was a secure investment. iStore Labs had lived up to their promise of building a fully managed online store.

The money-back-guarantee to profitability convinced Adam to take the plunge in the first place. His e-commerce business was now providing a recurring income that he could depend on. He had achieved his ambition of running an online side business which was now a successful eCommerce business earning 6 figures. Finally, he was able to quit the day job that he detested.

Editor’s Note

An iStore Labs store can be your main way of earning or a side-line business if you don’t want to quit your day job. The money-back-guarantee means that it is risk-free. Love My Businesses fully endorses iStore Labs as a successful eCommerce business opportunity.

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Statutory and Voluntary Redundancy: How To Deal with it and Profitable Online Business Ideas

Sun, 04 Apr 2021 12:01:01 GMT

Redundancy and What To Do Afterwards

'I have been made redundant!' Those five words that you hope you never have to utter. Most people naturally fear the process of statutory redundancy or the more palatable voluntary redundancy. However, in a much-changed world, job security has morphed into job insecurity which can be avoided with profitable online business ideas. Let’s take a look at the redundancy process.

Statutory Redundancy, Voluntary Redundancy, and Profitable Online Business Ideas

Going through redundancy is tough. Whether it is voluntary redundancy or statutory redundancy, both have a ‘redundancy period’ or ‘redundancy notice period’, so you do have some thinking time.

I opted for ‘voluntary redundancy’, whereas the unlucky ones faced ‘statutory redundancy’. I remember going to complete the sign-off papers which would seal my exit from a steady job after 5 years. It was odd as the building I went to was in another part of the city and the Director, I barely knew. Once we both signed, with a half-smile, I thought I had left behind a world of financial security.

Uncertainty is the worst part of it. I remember going into a redundancy meeting of fellow managers and the Executive Director announced that one of our team would have to go. In the last 10 minutes, she giggled and said, “Oh I am sorry. I got it wrong. It is two of you that have to leave.” That was the point I knew I wanted voluntary redundancy!

If only I had searched for profitable online business ideas back then, I could have had a much smoother transition. We don’t have to face the impending doom of redundancy, we can start preparing before it happens by starting our own business. More about that later!

Being Made Redundant - Stay Informed of Your Redundancy Rights

Being made redundant is a lot easier if you are informed of your redundancy rights. If you live in the UK, two useful websites are: ACAS - the Advisory, Conciliation, and Arbitration Service; an independent source for your working rights and GOV.UK , the UK Government’s own website.

In the USA you can find useful information on the Department of Labor website for your redundancy rights. In Canada, it is a good idea to read the government websit e and in Australia, the government also provides resources and advice .

Your Redundancy Rights - Ask Your Company HR

The HR department in your company should also inform you about the redundancy procedure and redundancy entitlement.

Furlough Redundancy

In the Age of Covid, we also have the issue of furlough redundancy. Furlough and redundancy weren’t a major issue before the pandemic. Look up your rights on the government website for your country or use the links above.

Life After Redundancy - What to Do Next? Profitable Online Business Ideas

You may be thinking of starting the job search process now if redundancy is looming. But do you really want to go from one corporate job to another? Isn’t it time to get out of the rat race and be your own boss? Everyone is in the same boat during these times and job security is a rare commodity. Plus, as you send your CV to countless companies, you have the sinking feeling that the competition is stiff.

Also, contracting is not as lucrative now with the income tax IR35 rules being enforced for umbrella companies. Why let the anxiety of having work stability affect you when you can take full control of your destiny with your own automated online business? So what are the profitable online business ideas on offer?

If you are a corporate executive, you may want to consider being a coach for SMEs and share your experience with business owners. Pendleton Partners is a fabulous online business opportunity for experienced leaders who want the freedom of running their own consultancy.

Whatever your level of experience, start setting up your own online business now. Then worst-case scenario, you will be ready to provide a stable income if redundancy strikes. Having an online side business is a great second income in any case. So which online businesses are worth investing in?

Stories Of People Who Took The Leap!

These people all made the transition from redundancy to online businesses:

John

John invested in Property Partner , the technology-backed property investment platform and exchange a year ago. Now his business has revenue of $100,000 a year. He doesn’t regret losing his job now. Life got so much better once he overcame the fear of starting a business.

Sarah

Sarah left her job after being made redundant and invested in an automated affiliate marketing opportunity. She paid £995 and now she earns money promoting brands she loves like Google, Amazon, Apple, and Tesla. Her company has monthly revenue of £9,000. Leaving her job was a win-win!

Tom

Tom hit the ground running after redundancy and bought an automated Digital Facebook Marketing Agency . With an initial £12,995 investment, the whole agency was built for him from start to finish within 6 months as part of the package. His business has an annual revenue of £65,000 a year with scope for expansion.

Amit

Amit invested in an automated Forex platform that uses an A.I. bot to earn you money. He started small but now he is trading at $20,000 a month. With earnings at 30 to 40% per month, life after redundancy is feeling good for Amit!

Thea

Thea left her job after redundancy and followed her ambition to get into e-commerce. After 2 years her online store made $42,000 in revenue in 7 days. iStore Labs build fully managed online stores for clients with a money-back guarantee to profitability.

Sangita

Sangita decided to open a domestic cleaning business after redundancy. Within a year she had expanded it to 4 cities and is now making £20k revenue a month. She is cleaning up with the competition! She runs it all remotely.

Kate

Kate opted for a Social Media business selling white label products to her customers. Now as a Social Command Partner she is making a cool $7,000 a month in revenue which is more than she earned before redundancy.

Mohammed

Mohammed was a logistics manager who got made redundant. He retrained as an electrician and bought an online electrician business franchise . The customer acquisition is automated and his business makes £90k a year in revenue.

Richard

Richard opened a Blam Digital Marketing Agency selling AI websites, Apps, and Digital Marketing services. After two years of trading, he is bringing in £8k revenue a month.

Lucy

Lucy realised her ambition by setting up a fully automated Shopify online business with All Done Consulting . They test the products, build the website and generate profits for her. She is now raking it in with $20,000 each month in revenue.

What is the one thing they all have in common? They all realised that redundancy was actually the best thing that could ever happen to them! A Blessing in disguise!

Don’t let the stress of redundancy beat you. Start your own online business and build a better life for yourself. Check out Love My Businesses right now for profitable online business ideas .

By the way! We have two fantastic new business opportunities: Uber and AirBNB !

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Find your Happy Place and Freedom with one of our Profitable Online Businesses !

CASE STUDY: How A Grandmother Earned $100,000 From Forex in One Year

Sat, 13 Mar 2021 05:04:52 GMT

The Amazing Story of Hazel

Description of the Subject: The Grandmother Who Earned $100,000 From Forex in One Year

Hazel is a remarkable example of a 68-year-old grandmother whose initial small investment led to a large profit. Hazel had been a spiritual teacher since the 1980s, so not your archetypal financial bread head. Then, four years ago she realised that to make a real change in the world she needed to increase her wealth. She sat down and decided to become wealthy.

As she looked at different options for investing, she found out a lot of companies were unscrupulous and took your money and ran. She wasn't rich before and her pension wasn't enough to have a comfortable life. This is what prompted her to get into Forex Trading for Beginners.

Subject’s Goal

She clearly and simply, in her own words, wanted to become ‘stinking rich’. She realised that this was the main way to make real change and help build a better and fairer world. On her LinkedIn Bio she says,

“I have stepped into the world of being an Entrepreneur and Crypto and Forex Trader. My vision and calling are to help and guide people to Spiritual and Financial Freedom. Showing people the secrets of the wealthy elite - how they protect and grow their money for generations to come. I have partnered with one of the biggest names in the Forex Trading world to help spread my vision of leading people to financial freedom.”

Extract From Hazel's LinkedIn Bio

Hypothesis for Strategy

So what is forex trading and how does it work? Well, Hazel discovered that the Forex Industry makes over $6 trillion dollars a year and banks have invested our money and earned big profits in the Forex market for many years, but given us small returns on our savings. Startled, Hazel woke up to the fact that the banking system was very corrupt and ordinary people were being fleeced.

Eventually, she came across an Automated Trading Platform with A.I. Intelligence which wanted to empower ordinary people to invest in Forex trading. The platform currently has a million people on board and Hazel believes they are an ethical organisation who want to make the world a better place.

Hazel’s main idea was to stop putting all her money into savings account in banks and instead invest in Forex because the returns would be much higher over time. Hazel said Forex is about ‘being on the financial trajectory to be financially free’.

Implementation of Strategy

Hazel believes that you have to be emotionally detached to be a Forex trader. It is an art and high pressure. But with the Automated Trading Platform she uses, the trading is done by A.I. Intelligence and FX traders. They offer low-cost contracts starting at $300 to people with a promise from the company that they will double that money to $600.”

Hazel loved the fact that she could invest in Forex with all the trading done for her. Then, later she could withdraw money as it increased. Also, Hazel discovered that it didn't involve selling, only sharing with her family, friends and network. Hazel said in a recent Facebook live, ‘I couldn’t sell anything.’

Instead, she immersed herself in the networking side of things and rapidly increased her initial investment of $1000 through her excellent ability to share with her network.

Results of the Strategy

The question on your lips: Is forex trading profitable? This 68-year-old Grandmother started with a $1000 contract and within a year she earned $100,000 from Forex. Hazel herself states that the ‘The journey from $300 to a $100,000 dollar contract usually takes 5 to 6 years.’ but she was very persistent in her networking and sharing. This is remarkable considering that it was a side-line for her. She is now trading with the $100,000 a month package.

Concluding findings:

There is great opportunity for others to get involved using this Automated Trading Platform which operates with A.I. Intelligence. Plus, a grandmother earning $100,000 in one year from Forex is not a one-off, freak occurrence. There is plenty of scope to invest for a wide range of people.

Hazel embraces the ethical philosophy of this Forex platform. She truly believes the founders have altruistic motives to empower common people to become wealthy. Furthermore, top business people are now getting involved. Recently, Coventry Billionaire, Jojar Dinsa adopted the very same Forex platform as Hazel.

Hazel is passionate about her involvement with Forex trading and for her it is more than just the money. It is about creating a fairer world where the banks aren’t ripping us off and making money themselves in the Forex market:

“I am very focused on Bitcoin and Crypto Currencies/ Forex trading. It is my intention, and my passion, to provide financial education for everyone, and share a system, already in place, where everyone can benefit from Forex trading, all done for you (no experience necessary) and start your journey to financial freedom.”

Extract From Hazel's Linkedin Bio

To find out more about the Automated Forex Platform which Hazel uses click here.

N.B. Forex Trading investment is one of many online businesses offered by LMB. For a full list of options, please read through our website.

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Redundancy: What To Do After Being Made Redundant

Sat, 27 Feb 2021 12:01:14 GMT

Online Business Opportunities For People Who Have Been Made Redundant

It is every worker’s worst fear to lose their job. Sitting there with redundancy looming, you ponder what to do . Even if you are in a job you really hate, the prospect of no monthly revenue and the job benefit queue is a nightmare scenario.

Unfortunately, with the world ravaged by a pandemic, millions of people have already lost their jobs and meanwhile millions of others are wondering if redundancy is on the horizon. Every week you hear another tale of someone who has lost a stable position in a decent company. Your pressing fear is, 'Am I next?’

Redundancy, what to do now?

1) Don’t Panic!

Breathe, be calm and be pragmatic. What are your options now? Brainstorm all your skills and experience and look at the potential online business options .

2) How long will my savings last?

Calculate how long your current savings will last. Do you need to sign on immediately? Plan to live on a budget for a time. Don’t leave it to the last minute. Be ready for scaling down.

3) If jobs are scarce, what are my options?

The harsh truth is that the competition for jobs now is tough. Setting up your own business could be the answer. But what are some of the best choices for starting an online business after redundancy? What to do now?

So currently there are 3 types of businesses that are literally flourishing. Three ‘Kings of Industry’. So brush yourself off, forget what you’ve left behind, and let’s explore the Magi of Online Business ventures:

Three Kings of Online Business

Forex

Everybody is talking about Forex right now. If you are looking for a recession-proof business, this could be the one for you. You don’t have to be a mathematical genius because using a revolutionary A.I. Bot, you can follow all the latest market trends. So faced by redundancy and what to do, this could be a winner, just like this grandma who is acing it!

Forex businesses are earning on average 30 to 40% on their investments per month. The Forex market is worth a mindboggling $5.3 Trillion dollars. Is this the one for you?

E-commerce

In 2021, the E-commerce industry is expected to take a cool $4.5 Trillion dollars . Covid made digital online businesses boom out of sheer necessity. The choices are wide for this sector with Amazon, E Bay and Shopify packing the biggest punches.

Whether you want a passive income or something more hands on, e-commerce could be your perfect ticket to a better life. This is also something to consider as a second income.

Digital Marketing

Dreading redundancy and what to do? Well, take a serious look at running your own digital marketing agency without prior experience. Virtually every company in the modern age needs to be digital marketing savvy. There are a number of choices for you to start a digital marketing business. You might fancy supplying small and medium-sized businesses with A.I. websites and Apps without previous experience.

However, running a Social Media agency might be more your cup of tea. Whatever your choice, Digital Marketing is a growth sector with a plethora of online business opportunities.

So if you are feeling gloomy about redundancy, break out a smile and pack up your troubles.

Redundancy could be the gateway to the life you always dreamed of!

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How To Escape The Rat Race and Start Your Own Business!

Mon, 22 Feb 2021 08:09:56 GMT

An Interview With The Founder of Love My Businesses

Our founder Jey was a Corporate executive in IT in London for 21 years. After years of hard work and commitment, he realised that he wanted the freedom of being his own boss and earning much more of the pie. It was time for him to escape the rat race and start his own business!

We interviewed him and this is what he said...

1) Why did you escape the rat race and start your own business?

I knew there were a LOT of people who felt the same as myself. Perhaps disgruntled with their job, boss, reliance on a salary (or salary-slave as I called it), risk of redundancy, etc. So I decided to create a central resource of tried and tested internet business models to help others wanting to go on the same journey.

2) What was the turning point?

Like many entrepreneurs, I read Rich Dad, Poor Dad which was a lightbulb moment for me and inspired me to begin my entrepreneurial journey. My underlying interest lay with internet and automated business models. I tried many business models and spent a lot of money. I tried launching a Tech Startup, Franchising, investment schemes... Some worked, Even more failed!

I almost came to the point several times where I did think I was not cut out for it. Perhaps I should have returned to my job but thankfully I persevered and generated a healthy income from my portfolio of businesses.

3) Which factors pushed you to do it?

Like most people, I had a career. 9-5 job, working in the City for over 20 years in the IT sector. I progressed to a Director level role, however no matter what job title you have, you are still reporting to somebody; or as I used to to call it "Somebody else's B!tc#".

Perhaps it was a mid-life crisis ;-)

4) How did it change your life when you escaped the rat race and started your own business?

There have been a number of changes, however the biggest change would be time-freedom.

I would class this above financial freedom. I am free to conduct each day as I see fit.

I don't have a boss chasing me, or expecting me in the office. I can choose to work at home, office or coffee-shop or not at all, spending time at home with the family should I wish.

Therefore, I can conduct each day on my own terms, which was something I could never do before.

5) What was it inside of you that made you go for it?

Something inside ate away at me, not wanting to answer to my boss or anyone else and also the fact of having to rely on one source of income.

6) Why do you love LMB?

All the reasons above! I get to mix business and pleasure :-)

7) What is the ultimate aim and vision of LMB?

I decided to create a central resource of tried and tested internet business models to help others wanting to go on the same entrepreneurial journey.

That is all from Jey. Escaping the rat race and starting your own business is a big step towards reclaiming your life. The step between where you are now and what you can achieve can seem daunting. But once you take the plunge, there is no turning back because the freedom you gain and the wealth are both priceless.

LMB is not a get-rich-quick scheme. For any business to succeed it takes consistent hard work and planning.

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What are the Types of Online Businesses Worth Investments?

Mon, 08 Feb 2021 12:40:14 GMT

The Top Five Online Businesses in 2021

Entrepreneur in pyjamas? Here's how!

1. Types of Online Businesses Worth Investments: Website Design

Every business needs a website now. The Digital world has boomed. The key to making a website business successful is finding the right niche. It could be the health and fitness market, restaurants and pubs and so on. Choose a sector which you are familiar with! A website business is one of the types of online business worth investment.

With a robust lead generation strategy and regular sales meetings, you could be earning £8,000 to £10,000 a month within a few years. It is all about planning your business and setting targets.

You also need to acquire some basic knowledge of the technology which you are selling. You can front sales but in a franchise model you can rely on a technical design team to create the websites. Or if you have tech experience, you can do sales and design. Blam Partners is a digital marketing business opportunity with great potential for recurring income.

2. How to Run A Social Media Online Business

There are a plethora of small businesses out there who need social media management as they are clueless about where to start. Large businesses have their own inhouse social media teams, so position yourself as a social media consultant for SMES.

Firstly, upskill by studying social media as a strategic tool to promote businesses through content. Take the free courses offered by Google Digital Garage, Facebook Live, Instagram training etc. Once you have the training, start to approach small businesses with bundles of services and prices. Social Command is a great partner opportunity to sell social media tools to businesses.

Potentially, this kind of business can be very lucrative. Set target numbers for how many customers you want each month and your desired Monthly Recurring Revenue or MRR.

3. How To Start an Ecommerce Business

E-commerce can be a cash cow. Automated systems working from home can bring you an income level you only ever dreamed of. In 2020 $3.53 trillion dollars were spent on e-commerce. In 2020 E-commerce made up 22% of total global retail sales and the country with the most e-commerce was Turkey with 20% of world e-commerce sales. This is definitely a type of online business worth investment.

With Shopify, IStore and All Done Consulting, you can start your own e-commerce business with relative ease. These are definitely types of online businesses worth investments. iStore Labs is a completely automated Amazon/eBay Store which runs with very little effort. The App tracks and feedbacks your daily profits and the income levels are at least £5000 in 6 to 9 months. A simple to set up business and affordable.

4. How To Start A Forex Online Business

At $5.3 Million Dollars a day, the Forex Market is the largest in the world. This is on a par with the wealth of the biggest businesses, banks and wealthy elite. Stocks and trading are often touted as a tricky business where you can lose large amounts of money which is true if you invest unwisely.

Using an Artificial Intelligence Bot programmed to operate 24 hours a day, 5 days a week, you can make money even when you are sleeping. This is an exciting work from home opportunity. The average earnings per month are 30 to 40% commissions on your investments paid each week.

5. How To Run a Cleaning Business From Home

The global pandemic has seen a surge in cleaning businesses. Hygiene is big on the agenda in a virus hit world, so why not get a piece of the cleaning action yourself? Now you don’t actually have to touch a mop and bucket yourself, you can virtually manage your team.

This might not be quite as glamorous as the aforementioned business types, but when you see cleaning start-ups turning over 20K a month in the first year, you may start to take notice. Without doubt, this is a type of online business worth investment.

Working remotely from home, running a cleaning business , you don’t actually have to meet your cleaning team and customers. All you need is a laptop, headset, wi-fi connection and an app. A company App means the cleaner can check in when they arrive, receive customer feedback and you can automate the whole thing with a virtual assistant!

On with the pyjamas and get ready to do business. Let's do this!

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Work From Home: How to Identify Online Business Opportunities

Fri, 05 Feb 2021 14:38:59 GMT

Identifying the Right Online Business For You In 5 Easy Steps

Identifying which online business opportunity is right for you is an important first step. This might be your first business, or you may already have an existing business. For first-timers, some continue to work in their paid jobs and run the business on the side. Others take the plunge immediately. But what are the steps to consider when choosing the right business for you?

Step One - Identifying The Right Business Online: Hard Work

First up, running a business is not for everyone. If you don’t like working weekends and evenings and when others are on holiday, it probably isn’t for you. Being a business owner is no 3-day job, well not at the beginning anyway. Once you’re an e-commerce genius, you might pull the three-day week off! If you don’t like hard work, stop now, but if you’re prepared to work hard to escape a job you hate or build a better life, then read on!

Step Two - Know Your Strengths and Weaknesses

‘Know Thy Self’ was written above the temple in Ancient Greece. Here’s a task for you. Sit at your desk and write down your 4 key strengths and 4 weaknesses in terms of character traits e.g. positive, determined. Next, write down your past experiences and successes with a list of skills. E.g. communications experiences, IT hardware repair, Fluent in Spanish etc.

Now write down a list of 10 businesses you could possibly start. Be wacky and dream big because afterwards you will eliminate the impossible. Look at each type of business and compare them to your skills, experience, strengths, and weaknesses. Ask yourself which of them are just pipe dreams. Then whittle it down to the top 3.

Step Three - Research the Market And Identify a Need

By now, you have a clearer idea of how to identify the right online business based on your experience and skills. Now the classic mistake to make is to start a business and sell products or services because you think people will like them.

Instead, get online and identify a real demand for certain products and services. Know that there really is a demand before you put your time and energy into it. Remember, we are talking about identifying the right online business opportunities, so your market is potentially the world. However, you need to identify your market segment and target audiences. Start small and scale. it. Grow gradually as you learn to nurture your customer base and find out where they hang out online. Research is the key, not just at the start but on a regular basis to know your audiences.

Step Four - Take a Look at Your Finances

Be realistic. How much do you have to invest? How much do you need for the overhead costs for the first 6 months? So many businesses don’t survive the first year. Write a Business Plan! . Cost it all and be prepared for unexpected bills and expenses.

Some businesses don’t require a lot of investment and others require lots. It really depends on the type of business you intend to start. Be wise with your money. Be sure there is actual demand and that you can make it work before you start investing.

Step Five - Just Do It!

Sounds easy? Well, this is the step so many people fail to take when identifying the right online business . It is almost as bad as the story people tell about ‘writing a book’ one day. Hardly anyone ever does. Don’t spend years talking about starting a business. Just go for it! No fairy godmother is going to come along and magically make it happen. You need to grit your teeth, be brave and take a leap into the unknown!

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Franchise: How to Choose a Business Opportunity

Sat, 30 Jan 2021 23:03:06 GMT

What are the advantages and disadvantages of running a franchise business?

If you are reading this and thinking about a franchise, you may fall into one of the following categories:

You have a job but you want to create a supplementary income.
You want freedom from your job by having your own business.
You are a stay at home mum who wants to run a business from home
You’re an existing entrepreneur who wants to add a new business to your portfolio.

None of the above? Okay, I guess I was wrong! Now in the crisis-hit pandemic world uncertainty is the biggest certainty. The doom-mongers and naysayers will tell you that it is not the time to start anything. Yet the facts say differently - the online economy is bigger than ever before.

Retail e-commerce sales grew 27.6% in 2020 !

Starting a franchise is one of those business opportunities where you could make a prosperous income online. But before we go any further, let’s talk about the pros and cons to help you choose::

What are the advantages of running a franchise?

With a franchise, you get the freedom of being a small business owner but with the support and benefits of a large business network.
Stats show that franchises have a higher success rate than start-up businesses.
You usually don’t need previous experience as franchisors usually supply the training you need to run your new business.
A franchise will normally have an established reputation, marketing strategy and tried and tested practices to help you hit the ground running.
Starting a franchise may make it easier to get a loan or secure finance than if you were starting a business alone. The franchise will probably have a loan advisor too.

What are the disadvantages of running a franchise?

If you buy a franchise you have to sign a legal agreement with your franchisor.
This agreement will have stipulations about how you run the business which you may find limiting at times.
There may be rules about which products and services you can provide. Also, you may be tied into using certain suppliers.
The reputation of the franchise may be affected by underperformance from other franchisees.
You are committed to sharing profits or paying annual fees to the franchisor
Franchisors may not renew the contract at the end of the agreed period.

So is a franchise the right business opportunity for you?

Franchising is suitable for people who are attracted to an industry but maybe don’t have the experience. There are so many different franchises to choose from. A franchise enables you to learn new skills. But is that what you really want to do?

Either way, expect to work hard and grow into your new role. ‘Get Rich Quick’ schemes are a fantasy. Whatever type of business you start, you need to work hard at lead generation, sales conversions, digital marketing, making informed decisions, maximising your time, and keeping your cash flow steady. If you are not prepared to work hard, then a franchise is probably not for you. But let’s face it, most types of business require elbow grease and knuckling down unless you are a silent partner.

First things first, when looking at business opportunities research franchises in detail and ask all the right questions including the ones above. To kick you off, here are the top 500 franchises in the USA in 2021.

Love My Businesses

Finally, ‘Love My Businesses’ is a dynamic ‘One Stop’ for franchising business opportunities. We are committed to giving you frank and honest advice on starting and running your own franchise. For a full list of businesses that we work with click here.

For free support and advice, drop us a line . We are LMB, the One Stop for Starting a New Business.

2021 is the time to dream big, work hard and find your financial franchise freedom!

Do something great this year!

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