Dave J |
Dave J, is an E-preneur, NLP-Certified Business Coach and Author.
Within a decade, Dave J has served as an advisor to countless
small-level to high-level business leaders around the world. Despite
such a short span, Dave J has becoming a highly-respected authority on
the psychology of business leadership, business startup, management and
marketing. His forte is coaching ordinary people to attain professional
and financial breakthrough. |
Dave J
has written 11 articles for SB Informer. |
View all articles by Dave J... |
10 Step-by-Step Business Startup Guide: Step 2Dave J
April 19, 2007
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STEP 2: Business Model Once I have selected the kind
of business I want to do, I would brainstorm how to run the business.
In today’s technology, there are many business models to choose from
i.e. part time or full time, at home or totally mobile, online or brick
and mortar business. But the key is to choose a business model
that fits into My Ultimate Plan. I do this to make sure that I spend
the right number of days each month, take the right level of risk,
investment wise and attaining the level of satisfaction that I want. First thing first: How much time do I want to devote to my business? If
I only have three days to spare in a week, I cannot start and run a
business full time. I will need to do it part time, to adapt my
business to time consuming obligations that I already have, such as my
day job, parenting responsibilities or other activities that would
refrain me from doing it full time. Once I have determined
whether I would do the business full time or part time, I will need to
identify the right type of business models to fit into my current
situation. I have complied six common business models here: 1. Home based 2. Brick and mortar 3. E-commerce 4. Franchising 5. Licensing a product 6. Multilevel marketing Home based Using
the latest technology, anyone can create a legitimate and competitive
business from home. In fact, this is the cheapest and fastest way to
start an enterprise. It can be run full time or part time, Internet or
non-Internet based. Brick and Mortar It simply means a
business with a physical location outside the home, either leased
premises or purchased. It involves a dedicated facility, whether
retail, wholesale, service or manufacturing. This model usually
involves relatively high capital. E-commerce There is no foot
traffic in this business model. All the customers will purchase online,
from A to Z of the transaction. The owner can sell and service the
product/service through an Internet portal capable of collecting
payment. This can apply to business that sells directly to customers or
to other businesses. Franchising This model refers to buying a
successful business model, which makes the buyer the “franchisee”.
Usually, there will be a franchise fee upfront and a portion of the
revenues over time to be paid to the franchisor. Everything the
franchisee needs to know on starting and running the business is
provided by the franchisor, including the equipment and sometimes,
goods and services. Licensing the Product Any designer,
expert, innovator or anyone creative enough to conceive a product or
invention that people would buy but do not want to run the business,
can still take advantage of a great product idea or invention by
licensing it to another company that has the entire infrastructure in
place to effectively manufacture, market and sell it.
Multilevel Marketing (MLM) This
is another business that could be started instantly and with low
startup cost. However, to excel in MLM, one must have traits of
perseverance and determination. MLM is a marketing and distribution
structure. People at the top sell to those below them, who in turn sell
to those under them. The higher one achieves in the structure, the more
income one derives. Anyone chooses this model must be cautious before
deciding to jump into the bandwagon as some MLM attracts its members
using “greed tactics”! Whichever option it may be, I would
definitely do some research on its pro’s and con’s as well as the level
of suitability to the kind of business I am going to venture into. *Note: Unproven teories to not be shown to my readers! If you need any small business startup help, feel free to visit my Website => To get the complete online business course onsmall business startup guide, log on to http://www.12daysonly.com, and redeem your BONUS PACKAGE worth US$1,396.00 Disclaimer
- This article may be freely reprinted in its entirety in any e-zine,
newsletter, blog or website. The author’s name, bio and website links
must remain intact and be included with every reproduction.
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