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5 New Business Ideas For 2010

As the economy starts to improve, many people are considering striking out on their own in the near future. Here are five ideas for a new business which you might consider:

A web-based business
With only a very few exceptions, much of your prior experience in previous businesses can lend itself to creating a web-based business to provide a source of income. Although this does still require careful business planning and research, many of the essential infrastructure features (such as shopping carts and drop shipping) have now been standardized, making this one of the easiest businesses to start successfully. It is also possible to take a hobby or other specialized field of interest, and appeal to niche audiences in ways that traditional businesses will overlook as not being profitable enough to be worth the effort. Limited inventory costs and the ability to create information products as demand requires makes a web-based component something every new business should consider.

A franchise business
Franchises have much higher rates of longevity than many other businesses which you might start on your own. One of the biggest advantages of a franchise is that the chain has already figured out many of the mistakes you might make when starting a business, and has procedures in place to prevent these from occurring. Franchises also make use of wider-scale advertising than you could manage when starting out on your own. The only downside? Franchises can be more expensive to start.

A software development business
Software development can take many different forms. Many of the newest smart phones have application stores, and so there is strong demand for a variety of programs, from games to productivity enhancing tools. For those who have the technical background, software development can be a great way to enter a high-margin business with low or no inventory requirements, and a multitude of opportunities available to the enterprising.

A consulting services business
Consulting is another field where you can re-purpose knowledge acquired in other fields, and use it to improve a different business. Some of the challenges posed in starting a consulting business are that it involves delivering an intangible service, and that it can be difficult for customers to realize how good your service is, when compared with others.

A specialty care service business
A specialty care service can range from taking care of someone’s pets or children while they are out-of-town, to a service business which helps the elderly who are not yet ready for a nursing home. Since the United States has a significant portion of its population which is growing older, these businesses should experience growth in the coming years. If your business also has specialty skills (such as first aid or physical therapy), these can be additional selling points when marketing your services.

Therefore, if you plan on starting a new business, you should consider a web-based business, a software application business, a franchise business, a consulting services business, or a specialty care business. Each is highly attractive, and should well in 2010 and well into the future.

Copyright 2010, by Marc Mays

How To Start And Run Your Own Business

All over the world, there is a big problem of unemployment. It’s happening everywhere, from one country to another. Companies are retrenching and laying off people, so the unemployment rate is increasing by the day. This is why it is important for you to create your own business, so that you can employ yourself and others. The business can be big or small, it doesn’t really matter.

Here are some basic tips that you must consider before starting any business

1. Think of solving problems:

You must think of setting up a business that renders useful services to the people in return for their money. If you look around you, especially in your local environment, you will discover that there are problems that people go through, even on daily basis. These problems are indirectly giving you an idea of the type of business you will start in that area. For example, if you are located in an area where people find it difficult to get cars to go to far distances, you can start a car hiring business and you will make real money. If you can’t start a car hiring business, you can start any other business whether big or small. The important thing is that it is ready to solve the problem of the people and you will have a lot of customers.

2. Find a suitable location:

This is one of the most important things in business. Your business will do better in a suitable environment. Make sure you start your business in a place where people can easily locate it and patronize you. Don’t make the mistake of putting your business in a boring or miserable environment even if the rent is cheap. Location in business matters; it gives you an edge over your competitors.

3. Register the business for licensing:

Your business might not achieve its maximum standard if not registered. This is what many people, especially those running small businesses fail to understand. If your business is not registered or licensed, most reputable companies and organizations will not do business with you. You need to register your business, get a license number and add it to your banners, flyers, business cards and letters. This will make people understand that you are running a standard organization.

4. Advertise the business:

Even if your business renders the best services ever, you might not have much patronage if people don’t know about it. It is very important to advertise the business so people will know about it. If you can’t pay for TV adverts, you can print flyers, banners and business cards. Also make sure they are attractive enough to capture the attention of people. This will definitely announce your business and bring customers

5. Write business proposals to companies, organizations and schools:

Apart from capturing the attention of individuals, you can also write to various companies, organizations and schools. If your business is the type that solves their problems, they will patronage you, even at a higher rate. For example, you can make lunch for the staff in an organization and get paid. If you are good enough, you will add more companies and employ workers too.

6. Render quality services:

If you don’t satisfy your customers, you will not have more of them. You owe your customers an obligation to render the best services ever. Make them see the value for their money. Whenever a customer complains, don’t ignore it; make sure you correct the error before it’s too late. This will open the door for more customers and your patronage will constantly increase.

7. Be consistent and dedicated:

Don’t play funny with business. Remember it’s your source of income and livelihood. Don’t let customers come waiting for you in the morning. Open early, say the morning prayers, clean the place and be ready for business. Let your customers know that you are a serious worker and they will be ready to patronize you. If you are not consistent, you are opening the doors for your competitors to take over.