Entrepreneur Ideas – The Right Selection Goes A Long Way Toward Your
After years of making someone else rich, you decided its time to have business of your own and be full in control of you life. Many choices and options will present themselves. Wherever there is money involved there will be both booby traps to avoid and advantages to look for. Discover the three essential options for a
successful startup entrepreneur
formal ‘bricks & mortar’|business[/spin]Many choices and options will present themselves.. By this I mean something like a typical retail store or other business that sells products and perhaps also offers services around that product set.
A business of this nature requires a sizeable amount of startup investment. There would be items to purchase such as inventory, tools for the services and perhaps a shop fit in the case of retail or a workshop for the services component. means a lease…
Depending on the market chosen even a panel van may be needed to perform the services or product delivery. The business would be a bind as it is tied to its physical locale and may feel like a job after not very long.
We haven’t even explored the possibility of employing staff which, in all likelihood will be required. This comes with it own set of responsibilities, compliancy and ultimately stress.
On the upside, potentially profits on services can be good if well managed however, unless you want to be that manager you will need to seek out, employ and retain a top person for that spot as well.
In summary:
Cash flow and Capital
Ongoing overheads
Location and time restrictive
Higher returns potentially from offering services
A franchise can look like a great opportunity and many a burgeoning entrepreneur will think he has found his or her solution. The franchise company usually has a tried-and-true business plan, with market research, suppliers, sometimes even included is demand generating advertising, and finance facilities.
These are all formulated into a working business solution that you can pickup and run, and that’s great! You will however, be expected to pay for this. Perhaps once off, perhaps as a rake-off as a percentage of revenue. Occasionally both may be levied.
Also a franchise is often tied to a physical area so you again could be bound in the same way as a job may restrict you.
All in, a franchise could be summarized as ‘purchasing a job’. It’s normally a business that works, but at a cost.
In summary:
Capital & Cash flow
Ongoing overheads, Royalties or fees
Time and location restrictive
Tried-and-tested business model with support
Now what about the direct sales market? Depending on the structure sometimes this can also be labeled as Network marketing. I would guess this may be the least researched entrepreneur idea or the three discussed, at least initially, however once discovered it can be quite attractive.
Direct sales / Network marketing is where you earn money by representing a company’s products and sell them in a drop ship fashion for a commission. The business is scalable by sponsoring additional distributors who would do the selling and recruiting in the same way. And you may even earn a portion from their business as well…
Note though these distributors would be independent businesses and not formally employed by you, so they would not come with the responsibilities of employees. Importantly as they will directly earn for you, it would be in your interest to train them capably.
You typically don’t have to carry inventory, so you won’t have to cash flow that or provide premises to store it, or transport to deliver it. Customer service, administration and the like are for the most part handled by “the company”. Similar to a franchise a lot of proven, working business information and systems will be available to the business owners…
The person who enrolled you into the business may also be incentivised (as described above) to get you and keep you in profit and this to would contribute to a rapid successful result.
In summary:
Staff and stock freedom.
Low overheads.
Low or no restrictions to a physical area.
Scalable.
Proven / Working business model with support.
Out of the 3 business models discussed the direct sales seems to offer the best chance of the best achievement with the most freedom.
As a Business & Wealth strategist,Richard Baldock leads by example, teaching self-motivated people to become entrepreneurs and achieve their income goals working for themselves.
Richard Baldock is also the author of a FREE 4 day e-course “24 Rules for Success in Business”. Feel free to visit his blog at RichardBaldock.com – Connecting Entrepreneurs with Information to Achieve Success
Fetch realistic knowledge about the topic of internet marketing – please make sure to read this web site. The times have come when proper info is truly within one click, use this possibility.
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