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AtricleZine - High Growth, High Profit Business Ideas: Find Your Own
“Let me give you my card,” should be a staple in your networking conversations. If you have just started your own business and you do not have business cards, then you need to place it toward the top of your list. Business cards are a relatively inexpensive way to advertise your business effectively.The cost of business cards can range from relatively inexpensive to high priced, but no matter what price range your business can afford, they are an essential. When you are networking with people it may be easy to tell them all about your business, and they may be very excited to work with you. However, most people have terrible memories, and they will probably be lucky to remember half of your business name by the time they are ready to give you a call. When you hand out business cards, your potential clients have a friendly reminder of what you discussed and an easy way to remember how to get a hold of you.The reason business cards range greatly in prices depends on vari
Smart entrepreneurs also search for screaming success stories. More than a dozen business publications, including Inc. Magazine, Business Week, and Fortune rank the fastest growing large and small companies in the U.S. Some target hot growth businesses in Canada, Europe, South America, Asia or other countries and regions. Deloitte Touche Tohmatsu ranks companies with growth as high as 20,000 percent across the globe. Links to these high growth companies' websites are typically listed, too. There are similar ranking sources for top selling consumer products.
When an entrepreneur identifies a company growing as fast as 5,000 to 20,000 percent every three to five years, he or she considers how a new company might partner or piggyback on that white-hot growth. They may slice off a niche, or become a supplier, dealer, representative, distributor or reseller. They brainstorm ways in which their own new company can tap into this hypergrowth. When I-Pods
One of the worst culprit industries for hiring illegal aliens is the Car Wash industry and what is interesting is that it is no secret yet it still goes on and no one will do anything about it. In fact many car wash owners that hire illegal aliens and illegal immigrants are so confident that they can get away with exploiting these people that they do it right out in the open?Surely you have seen these illegal aliens and illegal immigrants at your local car wash and just to prove the point to you; did you are did you not call them into the Border Patrol Office, INS or other authorities? No, you did not did you? And do not give me that excuse that you did not know who to call because sure you did the numbers are in the Government White Page Listings in bold letters?So let me ask you something are you a quasi-American when it is suits you or are you a real American that believes in this country, our laws and what we stand for as a nation? Do you approve of just anyone coming t
Ask a group of unsuccessful business owners why their business ventures failed and most will probably cite “undercapitalization.” But there is often a more fundamental reason for business failure -- selecting products, services and a business niche for which there aren’t enough paying customers! Of course such companies find themselves undercapitalized. In fact, one can never find enough capital to keep a company afloat if it has a shortage of customers!
Buggy whips aren’t the only product in low demand. Today, product life cycles are typically short, and getting shorter. Entering a market that has matured (and for which you don’t have a highly innovative plan to substantially increase demand, lower costs or differentiate your offering) likely will lead to financial disaster. So will entering a market that is oversaturated with reasonably competent competitors.
Why do most business start-up books and business assistance specialists focus little, if any, attention on the most important question an entrepreneur will ever ask: What business should I be in?
In part, because most owners, often unwisely, have already made up their minds about the business they should start. Many entrepreneurs incorrectly assume this decision should be based largely on the existing technical skills, interests and experience they bring to the equation. Or they may have a friend or relative who claims, often inaccurately, that the business they own is a raving success, and simply decide to follow their lead. But there are far better ways to plan for success.
An entrepreneur with 10 years experience working for someone else in the dog breeding field may enjoy the work, have great technical skills, and love dogs. But before starting up a dog breeding enterprise, wouldn’t it be important to know that more than 65 percent of dog breeding companies are unprofitable. There are many other popular small business categories that share a record of high risk and low profitability. Now, for an individual who is financially independent and for whom earning an income (and a profit) from their new venture is secondary, this may be fine. But few planning a new business enjoy that luxury.
Another reason most small business authors and specialists focus so little on business selection is that they know little about the subject. Though vitally important, market research and analysis are topics most business authors, counselors, brokers and advisors have failed to study. Even some business planning consultants gloss over this crucial aspect of entrepreneurial success.
Our entrepreneur with the dog breeding background can use research to discover that there are many companies in the dog products and services arena that are experiencing dramatic growth. One sells dog biscuits containing only organically grown ingredients via category killer pet stores. A franchise operation teaches dog owners to manage their pets’ behavior, anxiety and frustration using behavioral science methods. A third company offers health insurance for dogs. Dogs bred and trained for explosives detection are also in high demand. Many of our dog breeder’s skills may readily transfer to an enterprise in such a niche area, where with thoughtful research and planning, opportunities for success should prove far better than those for a risk-plagued breeding business.
Does this mean no one ever succeeds in dog breeding? No, but entrepreneurs seeking high income and growth know which odds to defy and which to respect.
How do successful entrepreneurs brainstorm and research high demand, low competition, highly profitable business ideas?
Many start by listing and analyzing their skills, interests and competencies. But they don’t hesitate to apply these broadly to business ideas they consider. For example, management experience is often transferable to many industries and niches.
Smart entrepreneurs also search for screaming success stories. More than a dozen business publications, including Inc. Magazine, Business Week, and Fortune rank the fastest growing large and small companies in the U.S. Some target hot growth businesses in Canada, Europe, South America, Asia or other countries and regions. Deloitte Touche Tohmatsu ranks companies with growth as high as 20,000 percent across the globe. Links to these high growth companies' websites are typically listed, too. There are similar ranking sources for top selling consumer products.
When an entrepreneur identifies a company growing as fast as 5,000 to 20,000 percent every three to five years, he or she considers how a new company might partner or piggyback on that white-hot growth. They may slice off a niche, or become a supplier, dealer, representative, distributor or reseller. They brainstorm ways in which their own new company can tap into this hypergrowth. When I-Pods e
Newspaper advertisements may cost more than those which can be posted on the Internet, however, posting your classified advertisements in the newspaper will likely increase the chance of a sale as you are reaching a more local market. It is unlikely that someone from across the country or around the world will want to purchase your used furniture, lawn mower or Kenmore washer and thus much of the traffic that would come to your Internet ad would be useless. However, due to the fact that most newspapers that feature classified advertisements have a local circulation, the chances of completing a sale through the newspaper greatly increase since the product can easily be obtained. On the contrary, if you were to find a motorcycle for sale online and the seller lived in Florida while you resided in California, it would be very difficult to purchase the item. Furthermore, with the decreasing costs of advertising in the newspaper, many people find it a viable method of advertising the pro
Why do most business start-up books and business assistance specialists focus little, if any, attention on the most important question an entrepreneur will ever ask: What business should I be in?
In part, because most owners, often unwisely, have already made up their minds about the business they should start. Many entrepreneurs incorrectly assume this decision should be based largely on the existing technical skills, interests and experience they bring to the equation. Or they may have a friend or relative who claims, often inaccurately, that the business they own is a raving success, and simply decide to follow their lead. But there are far better ways to plan for success.
An entrepreneur with 10 years experience working for someone else in the dog breeding field may enjoy the work, have great technical skills, and love dogs. But before starting up a dog breeding enterprise, wouldn’t it be important to know that more than 65 percent of dog breeding companies are unprofitable. There are many other popular small business categories that share a record of high risk and low profitability. Now, for an individual who is financially independent and for whom earning an income (and a profit) from their new venture is secondary, this may be fine. But few planning a new business enjoy that luxury.
Another reason most small business authors and specialists focus so little on business selection is that they know little about the subject. Though vitally important, market research and analysis are topics most business authors, counselors, brokers and advisors have failed to study. Even some business planning consultants gloss over this crucial aspect of entrepreneurial success.
Our entrepreneur with the dog breeding background can use research to discover that there are many companies in the dog products and services arena that are experiencing dramatic growth. One sells dog biscuits containing only organically grown ingredients via category killer pet stores. A franchise operation teaches dog owners to manage their pets’ behavior, anxiety and frustration using behavioral science methods. A third company offers health insurance for dogs. Dogs bred and trained for explosives detection are also in high demand. Many of our dog breeder’s skills may readily transfer to an enterprise in such a niche area, where with thoughtful research and planning, opportunities for success should prove far better than those for a risk-plagued breeding business.
Does this mean no one ever succeeds in dog breeding? No, but entrepreneurs seeking high income and growth know which odds to defy and which to respect.
How do successful entrepreneurs brainstorm and research high demand, low competition, highly profitable business ideas?
Many start by listing and analyzing their skills, interests and competencies. But they don’t hesitate to apply these broadly to business ideas they consider. For example, management experience is often transferable to many industries and niches.
Smart entrepreneurs also search for screaming success stories. More than a dozen business publications, including Inc. Magazine, Business Week, and Fortune rank the fastest growing large and small companies in the U.S. Some target hot growth businesses in Canada, Europe, South America, Asia or other countries and regions. Deloitte Touche Tohmatsu ranks companies with growth as high as 20,000 percent across the globe. Links to these high growth companies' websites are typically listed, too. There are similar ranking sources for top selling consumer products.
When an entrepreneur identifies a company growing as fast as 5,000 to 20,000 percent every three to five years, he or she considers how a new company might partner or piggyback on that white-hot growth. They may slice off a niche, or become a supplier, dealer, representative, distributor or reseller. They brainstorm ways in which their own new company can tap into this hypergrowth. When I-Pods
Why bother with a tagline?Most consultants think it is better for clients to remember their company name rather than some logo or tagline. Although this is ideal, they may not be able to figure out what you do just by the name of your company. My company BizMechanix does give a hint of what we do but it is not specific enough for someone to get it when they see the name for the first time. Most consultants use their own name in the title of their company. I like this idea as it gives a professional feel but it absolutely does not let anyone know what you do. If you add a tagline to your name, then the chances of being better recognized are greater.In industry there are several taglines that you can instantly recognize and attach to a company name. “Just do it”, “innovation defined”, etc.When you are defining your tagline think about the services you offer and brainstorm some taglines that will work for you. Elizabeth Kearney and Associates has the tagline “The Expert
Another reason most small business authors and specialists focus so little on business selection is that they know little about the subject. Though vitally important, market research and analysis are topics most business authors, counselors, brokers and advisors have failed to study. Even some business planning consultants gloss over this crucial aspect of entrepreneurial success.
Our entrepreneur with the dog breeding background can use research to discover that there are many companies in the dog products and services arena that are experiencing dramatic growth. One sells dog biscuits containing only organically grown ingredients via category killer pet stores. A franchise operation teaches dog owners to manage their pets’ behavior, anxiety and frustration using behavioral science methods. A third company offers health insurance for dogs. Dogs bred and trained for explosives detection are also in high demand. Many of our dog breeder’s skills may readily transfer to an enterprise in such a niche area, where with thoughtful research and planning, opportunities for success should prove far better than those for a risk-plagued breeding business.
Does this mean no one ever succeeds in dog breeding? No, but entrepreneurs seeking high income and growth know which odds to defy and which to respect.
How do successful entrepreneurs brainstorm and research high demand, low competition, highly profitable business ideas?
Many start by listing and analyzing their skills, interests and competencies. But they don’t hesitate to apply these broadly to business ideas they consider. For example, management experience is often transferable to many industries and niches.
Smart entrepreneurs also search for screaming success stories. More than a dozen business publications, including Inc. Magazine, Business Week, and Fortune rank the fastest growing large and small companies in the U.S. Some target hot growth businesses in Canada, Europe, South America, Asia or other countries and regions. Deloitte Touche Tohmatsu ranks companies with growth as high as 20,000 percent across the globe. Links to these high growth companies' websites are typically listed, too. There are similar ranking sources for top selling consumer products.
When an entrepreneur identifies a company growing as fast as 5,000 to 20,000 percent every three to five years, he or she considers how a new company might partner or piggyback on that white-hot growth. They may slice off a niche, or become a supplier, dealer, representative, distributor or reseller. They brainstorm ways in which their own new company can tap into this hypergrowth. When I-Pods
Your mind never shuts up. You are always thinking about things without stopping. You are constantly talking to yourself. This is known as Self-Talk.SELF-TALKYour Self-Talk is that "constant talking to yourself" INSIDE YOUR HEADthat goes on all day long including all those pictures you are imagining when you 'self-talk' to yourself. By means of this constant conversation with yourself, you are ALL THE TIME evaluating and interpreting everything that is happening to you, to your performance, around you and to other people also.If a person is satisfied with his financial performance, he may 'self-talk' to himself by saying "Great, that is real great, I am a financial genius". or maybe something like "John, that was superb. You are such a great moneymaker". In this case, his Self-Talk is very positive and will help build and reinforce a positive financial Self-Image (Money Blueprint).Now, if he is unhappy with hi
Does this mean no one ever succeeds in dog breeding? No, but entrepreneurs seeking high income and growth know which odds to defy and which to respect.
How do successful entrepreneurs brainstorm and research high demand, low competition, highly profitable business ideas?
Many start by listing and analyzing their skills, interests and competencies. But they don’t hesitate to apply these broadly to business ideas they consider. For example, management experience is often transferable to many industries and niches.
Smart entrepreneurs also search for screaming success stories. More than a dozen business publications, including Inc. Magazine, Business Week, and Fortune rank the fastest growing large and small companies in the U.S. Some target hot growth businesses in Canada, Europe, South America, Asia or other countries and regions. Deloitte Touche Tohmatsu ranks companies with growth as high as 20,000 percent across the globe. Links to these high growth companies' websites are typically listed, too. There are similar ranking sources for top selling consumer products.
When an entrepreneur identifies a company growing as fast as 5,000 to 20,000 percent every three to five years, he or she considers how a new company might partner or piggyback on that white-hot growth. They may slice off a niche, or become a supplier, dealer, representative, distributor or reseller. They brainstorm ways in which their own new company can tap into this hypergrowth. When I-Pods
Organisational inertia is like a cancer. It eats at personal ambition and genuine creativity. At first, it limits progress in organisations which eventually descend into a dysfunctional morass to be reorganised, down-sized or right-sized. In some cases, organisations do not survive.When that organisation is a very large employer, the collateral damage of organisational inertia is families and communities that rely on the income provided by the jobs that the organisation provides.When the organisation is an arm of government, the impact ripples much wider through all individuals and commercial operations reliant on a progressive and competitive policy and regulatory environment supported by targeted investment in infrastructure.Organisational inertia is characterised by an inability to make decisions, an overload of reports and analysis with no apparent action, a stop and start approach to executing tactics as strategy changes year on year or an inabi
Smart entrepreneurs also search for screaming success stories. More than a dozen business publications, including Inc. Magazine, Business Week, and Fortune rank the fastest growing large and small companies in the U.S. Some target hot growth businesses in Canada, Europe, South America, Asia or other countries and regions. Deloitte Touche Tohmatsu ranks companies with growth as high as 20,000 percent across the globe. Links to these high growth companies' websites are typically listed, too. There are similar ranking sources for top selling consumer products.
When an entrepreneur identifies a company growing as fast as 5,000 to 20,000 percent every three to five years, he or she considers how a new company might partner or piggyback on that white-hot growth. They may slice off a niche, or become a supplier, dealer, representative, distributor or reseller. They brainstorm ways in which their own new company can tap into this hypergrowth. When I-Pods exploded on the scene a few years ago, smart entrepreneurs recognized the concurrent demand for accessories, and moved quickly to respond with highly profitable new products.
Wise business owners also study broad, societal trends, as well as trends within narrow industry and customer segments. They learn from futurists (management science consultants, about diverse global trends, risk management and emerging market) opportunities. Some of the best known futurists are Faith Popcorn, who wrote Clicking, Alvin Toffler, author of Future Shock, and Patricia Dixon, whose website, globalchange.com, is read by thousands daily. Books, magazines (especially industry and trade publications) and websites offer a myriad of free and low cost on trends and the future.
After homing in on a handful of rapid growth industry niches, the entrepreneur’s market research efforts continue with searches for market analysis reports targeted to those niches (many are free and available from your public and university libraries). Successful owners also gather statistics on the product or service and its potential target customers. Much of this data is available from the U.S. Bureau of the Census, the IRS, the U.S. Department of Labor, the U.S. Commerce Department and other federal agencies. Private sources offer data, too, usually more targeted, but at a price.
Available information includes national, state, county, city and other geographical area statistics on income, total wealth, gender, age, ethnicity, employment, number of companies in the same product or service category, number of stores per company, square footage and square footage costs per store, profitability of companies in the trade or industry, risk of failure, and benchmarking data (typical income and itemized expenses for companies with revenue comparable to your firm’s anticipated revenue), and more.
This information is recorded, logged, sifted and analyzed to determine the prospective niche’s and your company’s strengths, weaknesses, opportunities and threats before being incorporated into the owner’s business plan.
You’ll be amazed at how quickly you can build a wealth of information around one or two of your own favorite, highly profitable business ideas.
So, before you race down to register your business name, complete a IRS form requesting an Employer Identification Number, or run to the store for office supplies, ask yourself this question: Am I satisfied that I’ve found a high demand, high profitability business, with costs I can control (or even cut below the industry benchmark), in a low competition niche that is suitable given a broad application of my skills, interests and experience?
Once you have a well-researched, positive answer to that question, you’ll be ready to realize your own screaming small business success story.
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