Tag: is

What is a business name? #stock #market #info

#business name

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What is a business name?

A business name is a name or title under which a person or entity conducts a business.

Watch our YouTube video about What is a business name and how to apply for one.

When should I register a business name?

You will need to register a business name if you carry on business within Australia and are not trading under your own name.

Exceptions to this include:

  • if you are operating as an individual and your operating name is the same as your first name and surname
  • if you are in a partnership and your operating name is the same as all the partners’ names, or
  • if you are an already registered Australian company and your operating name is the same as your company’s name.

The law does not allow any changes from the business holder’s name if you wish to rely on the above exemptions. For example, if your name is John Smith, and the name of your business is ‘John Smith Co’, you will need to register the business name ‘John Smith Co’.

If you are unsure about whether you need to register a business name, look through the examples in Regulatory Guide 235 .

What a business name registration does not provide

Registering a business name does not provide exclusive ownership of your business name. It also doesn’t prevent other people from being able to register and use similar names.

To gain exclusivity over a particular business name, you need to register it as a trade mark with IP Australia .

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What is a business idea? #business #plan #layout

#what is business

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What is a business idea?

A successful company always starts with a compelling business idea. It’s the first milestone in the process of founding a growth company. The characteristics of a promising business idea are:

  • Fulfills a customer need – a problem is solved
  • Innovative
  • Unique
  • Clear focus
  • Profitable in the long term

Each idea, no matter how brilliant, initially has no commercial value. A plausibility check gives more information about an idea’s chances in the marketplace and helps to check its feasibility and innovative content.

What is innovation?

The term innovative is usually applied to new products or services produced with conventional production methods and delivered to customers via conventional distribution channels. Innovation, however, can also refer to the entire business system. It is less obvious, but equally important (for example, FedEx revolutionized letter post through central sorting and 24-hour operation).

The development of new products and/or services usually focuses on improving “customer benefit”. Business system innovations, on the other hand, focus on lowering costs, and these gains can then, to some extent, be passed on to the customer in the form of lower prices.

It’s rare that innovations combine both dimensions, product and business system, to create an entirely new “industry.”

What defines a convincing business idea?

A business idea is addressed to an investor and, therefore, must be formulated with the investor’s perspective in mind. It’s neither an advertising brochure for an “ingenious” product nor a technical description. Rather, it is a decision support document that emphasizes three aspects:

Customer benefit – What is the customer benefit, what problem will be solved?

The key to marketing success is not superb products – it’s satisfied customers. Customers buy to satisfy a need, or to solve a problem, e.g. food and drink, something that makes work easier, to enhance their wellbeing or self-esteem, etc. The first principle of a successful business idea is, therefore, that it clearly describes the need that will be satisfied and in which form (product, service). In this context, marketing practitioners refer to a “Unique Selling Proposition”.

Market – What is the market?

A business idea only has commercial value when the “market” accepts it. The second principle of a successful business idea, therefore, is that it shows how large the market is for the product or service offered, for which target group(s) it is meant and how it differentiates itself from the competition.

Revenue mechanism – How is the money to be earned?

A business must be profitable long term. The third principle of a successful business idea is, therefore, that it shows how much money can be earned with it and how the money will be earned.

  • A checklist regarding the content and form of a business idea and further practical tools is available here
  • Other useful documents are available in the download section
  • Not sure which competition to choose? Check out our decision aid




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What Is Business Networking, Anyway? #home #based #business #ideas

#business networking

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What Is Business Networking, Anyway?

Founder and Chief Visionary Officer of BNI

Business networking is leveraging your business and personal connections to bring you a regular supply of new business. The concept sounds simple, doesn t it? Don t let that fool you, though. Because it involves relationship building, it can be a deceptively complex process.

Think about it. How many people do you know? How many of these people truly understand what you do? How many of these folks have directed prospects to you as referrals? And how many of those referrals have actually turned into business?

Business networking is much more than showing up at networking functions, shaking a
lot of hands and collecting a bunch of cards.

For example, imagine two people attending an event, sizing it up and drawing an imaginary line down the middle. They separate, each taking half the room. At the end of the event, they meet again to see who s collected the most business cards.

Have you met these people? Sure you have. We all have. What did they accomplish? They collected a lot of cards that will end up on a shelf, in a drawer, in the trash, or–worse yet–scanned into a computer so they can spam everyone they just met. Why? What does a business card represent? It s a piece of paper, with ink and images on it. No relationship has been formed. This networking strategy, by itself, isn t an effective use of time, money or energy.

Some people get frustrated with networking because they seem to be making as much progress as a rear-wheel-drive truck on an icy hill: one foot forward, 10 feet back–getting nowhere fast.

Networking for business growth must be strategic and focused. Not everyone you meet can help move your business forward–but everything you do can be driven by the intention to grow your business. You have total control over whom you meet, where you meet them and how you develop and leverage relationships for mutual benefit. You have total control over whether you enter into the unique 29 percent of the population that is separated by six degrees (read The 29% Solution to learn more), whether you stay there, or whether you never get there at all.

Networking your business means you have to be proactive. The core of networking is doing something specific each week that is focused on networking for business growth. Make a plan, focus and be consistent. When you understand exactly what business networking is and step up to the challenge, you ll find avenues of opportunity that you may have otherwise never discovered, and you will be making an invaluable investment in the steady growth of your business.

Copyright 2016 Entrepreneur Media, Inc. All rights reserved.





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Business-to-Business (B2B) Definition – What is Business-to-Business (B2B) #business #loan #rate

#business to business

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Business-to-Business (B2B)

What is Business-to-Business (B2B)?

Business-to-business B2B refers to commerce between two businesses rather than to commerce between a business and an individual consumer. Transactions at the wholesale level are usually business-to-business while those at the retail level are most often business-to-consumer (B2C).

Recognizing Business-to-Business

The dollar value of business-to-business transactions is significantly higher than business-to-consumer activity because businesses are more likely to purchase higher priced goods and services and purchase more of them than consumers are. A bicycle manufacturer, for example, will purchase a truckload of bicycle tires or a coffee manufacturer will buy a massive, industrial bean grinder. Compare that with what s purchased by a biking enthusiast or the individual coffee aficionado.

How Business-to-Business Selling is Different

Selling to a business is different from selling to an individual consumer. Key sales and marketing differences for business-to-business transactions include:

  • Selling sometimes requires participating in a bidding process by responding to a purchaser s request for proposals. On the business-to-consumer side, this compares to asking various auto dealers to provide their best offer on a specific make and model.
  • The decision-making process on a purchase can take days, weeks, or months, depending on how the purchasing company works and the size and nature of the order.
  • Purchasing decisions are often made by committees, so each member needs to be educated and sold.
  • The dollar value of goods or services sold is much higher than on the consumer or retail level, so the buyer needs to take steps to minimize risk. That sometimes involves requesting a product prototype or customization.

Business-to-Business Doesn t Exclude Business-to-Consumer

A company selling to businesses can also sell directly to consumers. A bead manufacturer selling its beads in bulk to costume jewelry manufacturers might also package them in smaller quantities sold to crafters at craft stores. A telephone manufacturer can sell in bulk to companies or one at a time to consumers shopping online or at an office supply store. A firm that provides health and wellness consulting to corporations can also advise individuals one-on-one or in group presentations.

It s About the Customer, Not the Transaction Size

While business-to-business transactions often involve high prices and volume, they can also happen on a much smaller scale when a small business sells products or services to another small business. The hallmark of business-to-business commerce then, is the participants two businesses rather than a business and a consumer.

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How hard is it to start an import #stock #market #news #today

#import export business

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If you wish YOU CAN WIN

So you want to sell to the world? Thanks to the Internet, setting up an import/export business can be ridiculously simple and very profitable.

• Pick a product to import or export.

When it comes to importing and exporting, you cannot be all things to all customers. Decide on something and stick with it.

You have two viable reasons for choosing a product to import or export: you know it will sell or you like it. Hopefully, you can meet both criteria.

• Find the right market.

You’ve selected a product, now you must look for someplace to sell it! Do the homework and research the market beforehand to locate the best potential foreign market for your product or service. Use import export data to check market trends. These resources are helpful for determining where in the world products and services are moving to and from, and why and how to get in on the action.

• Source a supplier. Check here

  • Finalize the relationship and seal the deal

If you are an importer, you must seal the deal before your goods will be shipped to you. If you are an exporter, you must agree with the buyer and provide the goods upon receiving the money.

After signing an agreement with the supplier or manufacturer (as drawn by your attorney ), you will be granted the right to import the goods into your country or export from your country; as one of their designated import / export partners. The manufacturer will pay you the specific commission quoted to the distributors on top of the price of the goods. And you will be given catalogs and samples for your use in distribution.





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Is a Home Business Right for You? Horizon Job Marketing #small #business #resources

#home business

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Is a Home Business Right for You?

Every morning as people wake up and make the commute to work, many dream of the day when they will finally work for themselves. Every time the boss lets someone know that they must give up their weekend plans for the good of the company, people contemplate the benefits of being the owner of their own business.

Are you one of these people?

If you are, it is important to ask yourself some very important questions before you make the uncertain leap into self-employment.Many dream of the benefits of home business ownership, but few take into account the sacrifices that must be made to bring the dream to fruition. Please don t make this mistake yourself.

You must approach home business ownership with your eyes wide open. Ask yourself the important questions, and more importantly, answer your own questions openly and honestly.

AN IMPORTANT CONSIDERATION

Are you the type of person who relishes every chance to gather around the water cooler for social interaction? If so, then home business ownership may not be the right decision for you.Instead, if you feel that you can be quite content sitting alone at your desk; speaking only to clients and really minding your own home business, then you might have what it takes to succeed as a home business entrepreneur at IDLife .

If you feel at ease with your own company and don t need a dozen coworkers milling around your desk, then you, too, could savor the freedoms that will allow you and your family, to live the lifestyle you know you want and deserve.

THE KEY TO HOME BUSINESS SUCCESS

Self-motivation is the key to success when you start a home-based business. You need to possess the ability to push yourself ahead. Your drive and determination will be reinforced with every new sale. The level of success that you will achieve greatly depends on the time and effort you are willing to plow into your new home business.

Your organization, planning and marketing skills, will all be put into practice when you embark on your liberating journey from employee, to being your own boss. In fact, you will be the wearer of many hats and gain a wealth of business experience along the way, when you finally make that commitment to work at home.

Finding the appropriate products or services to market should not be over-looked as well. You need to find what you are passionate about or the fun of working for yourself will turn into another job that you hate. Consider IDLife products as a potential outlet for your business or other recurring income opportunities.

YOUR SUCCESS RESTS ENTIRELY UPON YOUR OWN SHOULDERS

You will now be the boss. Are you truly able to work independently? Do you have the drive; the tenacity, to persevere with your home based business? Will you be able to invest the necessary time to nurture it, to watch it grow and see it through, from germination to full, glorious bloom? When you re the boss, you are responsible for the success of your home business, from A to Z, from disappointments to victory.

When you work at home, it will empower you to achieve many things you were unable to do when you were stuck working for that tyrant boss. Remember him? He s the guy that wouldn t let you take time off when your baby was sick the same guy that called you in to work on Thanksgiving Day.

A home business means that you can take good care of your family and make money from home, simultaneously. You will have the best of both worlds! Just think no more dirty laundry piling up you can do it while you work. No more scurrying around at the last minute searching for a babysitter either. And no more worrying about getting fired; you ll be the boss!

Stay positive and focused on your home based business, even if, when sales aren t up to par, you get occasional negative remarks or derogatory comments from people with stuffy, dead-end jobs. Ignore their cutting words and bear in mind that success is the best revenge! Keep your admirable, positive attitude at the forefront and show them what you re made of!

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What is business acumen and how do you get it? Practically Perfect PA #best #business #loans

#business acumen

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What is business acumen and how do you get it?

September 9, 2013 December 29, 2015

Over the last few weeks I have been developing a twitter strategy for one of my company s clients. They are an online events business and we are helping them with their marketing so I have been learning about hybrid and online events. I already know how to market via social media, I understand the world of events and I can create content fairly easily but prior to. oh I don t know a few weeks ago I knew very little about hybrid events. I would be able to tell you what a hybrid event was but very little else, now I have online event information seeping out of every pore (it isn t very pleasant!)

The reason I can bring myself up to speed so quickly is because I have spent 10 years working as an assistant and I have become very good at developing business acumen! I also hopped from one industry to another so I had to constantly learn how these business were run, the jargon that was used and the different codes of conduct each industry sector had. I had to understand all of this to support my boss effectively.

I think it is so very important for assistants to have good business acumen because without it I don t see how we can support our managers or move up the career ladder.

So what is business acumen?

I really like this definition of business acumen, it is from the Financial Times Lexicon :

In practice, people with business acumen are thought of as having business sense or business smarts . They are able to obtain essential information about a situation, focus on the key objectives, recognise the relevant options available for a solution, select an appropriate course of action and set in motion an implementation plan to get the job done.

So that sounds easy to achieve right? Erm no, I didn t think so either! Developing business acumen takes time, it has to be achieved through learning and training and ultimately it has to be part of your ongoing development plan. Expanding your business acumen has to be constant.

Having strong business sense isn t easy to develop but it is incredibly important for an assistant to have. We support people that have very strong business acumen, they wouldn t be in the position they are in without it! How can we support them if we do not have an understanding of their business, their strategic objectives and the pressures they face on a daily basis? The difficulty is that a lot of organisations don t understand this need and do not offer assistants the opportunity to attend training courses or take time out of their day to build their business acumen. Many bosses do not see the potential in their assistants or the added bonus of having an assistant with a good knowledge of the business and what that means in terms of the extra support they would receive.

So how do we develop business acumen?

There are of course ways around this problem but it does mean that assistants will have to be particularly proactive in developing their own business acumen. Trust me though it is totally worth the effort!

Firstly, is your manager supportive of your training needs? If so, well done! Ask that you attend training courses on the areas that you could improve, for example business finance or process management. If your manager is supportive then build business acumen improvement into your overall development plan and ensure you have an objective based on the wider business such as working on a cross departmental project.

Does your organisation have a graduate programme? If it does then ask to attend their initial training sessions on the industry. I did this when I first started working in insurance. There was so much jargon and codes of conduct, especially when working with Lloyd s of London that I asked to attend an Introduction to Insurance course which was in-house and specifically for the new graduates. I was the only EA on the course but it was so helpful and didn t cost my company a penny.

Does your manager subscribe to business magazines? If they do, this is great because you open their post and can read the magazines before giving it to them! Don t worry I don t think they will be offended that you are reading their magazine they will probably be in total shock that you are taking an interest! Not only does this help with your business knowledge it also gives you something to talk to your boss about, which is great when you don t have a lot in common.

This brings me to a really important point! Read everything. I love Julie Perrin s blog on business acumen for administrative professionals because it really goes into detail on what assistants should be reading and how to actually create the time to read. This is well worth the read, once you ve finished reading my blog obviously! Reading business material does not cost your company anything and I honestly think it helps enormously.

Do you take minutes at meetings? Again this is another fantastic way to increase your business acumen. In a previous role I managed 12 Committees all of which had a special interest in different areas of accountancy. I attended all of the Committee meetings and took all of the minutes. During the meetings I would really listen to what everyone was saying and take notes on anything I didn t understand so that I could research it later. I would also talk to the members during refreshment breaks and read all of the supporting documents along with their regular newsletters. Oh my goodness, by the end of the 4 years I worked in that role my knowledge of accountancy was extraordinary! I once attended a networking event for one of the Committees and talked to a new member for half an hour before he realised I wasn t actually an accountant (thank God!)

Lastly do you attend meetings with your manager? This task will bring you into contact with the company’s decision makers and you will be privy to their conversations and how they come to make decisions. Ensure you listen to these people. If you know why decisions are made in the company then you can start to make choices about your everyday work following the same strategy as the executive team. This will massively increase your knowledge and keep you focussed on improving your business acumen. When it comes to your review you can demonstrate to your manager that not only do you understand the company’s strategy but you are also implementing it into your own work by thinking strategically. This depth of knowledge will be impressive because they might not think you consider the bigger picture.

Understanding the bigger picture, where your boss fits into it and in turn how you can help support their goals is a fundamental requirement of a great assistant. Developing your business acumen will also give you a fantastic foundation and allow you to move up the career ladder and gain a well deserved promotion.

And the ability for both of you to exchange information easily online
makes your being in-house less of a need. Audit-ready books
also enable a company to make more knowledgeable decisions on a time-sensitive basis.
If you are an employee of such a company, you need
to preserve the company. On the grounds that clerk services are
frequently served on an hourly groundwork, people who work snappier will permit you to
recover more.





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How Much Money Is Needed for a Car Wash Business? #free #online #business

#car wash business

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Small Business

How Much Money Is Needed for a Car Wash Business?

Although a car wash may be a lucrative business earning as much as $900,000, according to Entrepreneur magazine, it is a business that requires thorough research, a lot of initial work and a large investment. This investment is dependent on the type and size of car wash you decide to build and whether you already have the property lot or not. Building a car wash can take approximately six months to complete, so you need money for administrative and other business expenses for the time you are working but not making any revenue.

Location

If you don t already have a location for the car wash, you need to purchase a vacant lot, as this will save you the extra expense of tearing down any built construction. The cost of this lot will vary depending on the size and its location. Preferably, you want to find something on a busy street near a large department store, strip mall and several residential neighborhoods. Because real estate in high-traffic areas is more expensive, expect this type of property to be more expensive than in other areas but also more profitable. Although this cost varies significantly from location to location and state to state, generally expect to pay at least $3 per square foot.

Construction

The car wash cost is also influenced by the construction size and type. The average construction is about 1,000 square feet but can be as large as 2,500 square feet. Although cost is a factor when deciding on the size of your construction, a more important consideration should be your potential growth. It is best to start with a construction facility larger than your needs, as this gives you room to grow or expand into other areas within the car wash industry. To get a better idea of the cost of construction, consider using prefabricated car wash construction builders, or consult local architects with car wash building experience to get an estimate on construction. Under-building your car wash results in a longer time for you to recoup your initial investment and opens an opportunity for a competitor to take away your customers by building a larger and nicer facility.

Equipment

To plan your budget as accurately as possible, consider the costs of equipment which, according to Inside Self-Storage, can have an approximate cost of $30,000 to $40,000 per bay, depending on the climate and state. However, this is just a general guideline and the cost of this equipment varies depending on the brand, the type of equipment and whether you are building an automatic or self-serve car wash. The best way to assess the equipment cost is to contact various local equipment distributors and compare prices for the equipment you want. Contact distributors through websites like Car Wash Distributors, Car Wash Network or A-OK Equipment. Also look through trade magazines such as Auto Laundry News, Professional Distributor or Modern Car Care to find equipment options and distributor options.

Cost Estimate

A car wash involves the cost of the lot, equipment and building construction. Some owners may be able to start with an initial investment capital of approximately $100,000 providing they already own the land where the car wash is built. Otherwise you can expect to invest approximately $80,000 per bay including the cost of the lot and the building construction.





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What is business intelligence (BI)? Definition from #financing #for #business

#business intelligence

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business intelligence (BI)

Business intelligence (BI) is a technology-driven process for analyzing data and presenting actionable information to help corporate executives, business managers and other end users make more informed business decisions. BI encompasses a variety of tools, applications and methodologies that enable organizations to collect data from internal systems and external sources, prepare it for analysis, develop and run queries against the data, and create reports, dashboards and data visualizations to make the analytical results available to corporate decision makers as well as operational workers.

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The potential benefits of business intelligence programs include accelerating and improving decision making; optimizing internal business processes; increasing operational efficiency; driving new revenues; and gaining competitive advantages over business rivals. BI systems can also help companies identify market trends and spot business problems that need to be addressed.

BI data can include historical information, as well as new data gathered from source systems as it is generated, enabling BI analysis to support both strategic and tactical decision-making processes. Initially, BI tools were primarily used by data analysts and other IT professionals who ran analyses and produced reports with query results for business users. Increasingly, however, business executives and workers are using BI software themselves, thanks partly to the development of self-service BI and data discovery tools.

Business intelligence combines a broad set of data analysis applications, including ad hoc analysis and querying, enterprise reporting, online analytical processing (OLAP ), mobile BI. real-time BI. operational BI. cloud and software as a service BI. open source BI. collaborative BI and location intelligence. BI technology also includes data visualization software for designing charts and other infographics. as well as tools for building BI dashboards and performance scorecards that display visualized data on business metrics and key performance indicators in an easy-to-grasp way. BI applications can be bought separately from different vendors or as part of a unified BI platform from a single vendor.

BI programs can also incorporate forms of advanced analytics. such as data mining. predictive analytics. text mining. statistical analysis and big data analytics. In many cases though, advanced analytics projects are conducted and managed by separate teams of data scientists. statisticians, predictive modelers and other skilled analytics professionals, while BI teams oversee more straightforward querying and analysis of business data.

Business intelligence data typically is stored in a data warehouse or smaller data marts that hold subsets of a company’s information. In addition, Hadoop systems are increasingly being used within BI architectures as repositories or landing pads for BI and analytics data, especially for unstructured data. log files, sensor data and other types of big data. Before it’s used in BI applications, raw data from different source systems must be integrated, consolidated and cleansed using data integration and data quality tools to ensure that users are analyzing accurate and consistent information.

In addition to BI managers, business intelligence teams generally include a mix of BI architects, BI developers, business analysts and data management professionals; business users often are also included to represent the business side and make sure its needs are met in the BI development process. To help with that, a growing number of organizations are replacing traditional waterfall development with Agile BI and data warehousing approaches that use Agile software development techniques to break up BI projects into small chunks and deliver new functionality to end users on an incremental and iterative basis. Doing so can enable companies to put BI features into use more quickly and to refine or modify development plans as business needs change or new requirements emerge and take priority over earlier ones.

Sporadic usage of the term business intelligence dates back to at least the 1860s, but consultant Howard Dresner is credited with first proposing it in 1989 as an umbrella category for applying data analysis techniques to support business decision-making processes. What came to be known as BI technologies evolved from earlier, often mainframe-based analytical systems, such as decision support systems and executive information systems. Business intelligence is sometimes used interchangeably with business analytics ; in other cases, business analytics is used either more narrowly to refer to advanced data analytics or more broadly to include both BI and advanced analytics.

Business intelligence (BI) vs. advanced analytics comparison

BI vs. advanced analytics





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How Hard Is It to Be a Small Business Owner? Small Business Blog #government #business #grants

#small business owner

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How Hard Is It to Be a Small Business Owner?

There are a lot of misconceptions about being a small business owner. Like…

People often think that being a small business owner is easy because you get to be your own boss and set your own hours.

The Reality : Most small business owners work harder than they used to work when they had a corporate job.

People think that being a small business owner is glamorous – you get to make big decisions, make big money, and have a carefree lifestyle.

The Reality . Most small business owners have to wear many hats – sometimes getting to be a strategic visionary, but other times having to serve as a front-line customer service person, amateur psychologist, or office janitor.

But one of the biggest misconceptions about being a small business owner is that it’s too “hard.” I recently read an article on the Naked Capitalism blog entitled Tech Titans Promoting Basic Income Guarantee as a Way to Shrink Government, Kill Social Programs , which suggested that being an entrepreneur is a raw deal for most people:

But who wants to be an entrepreneur? Seriously. If you can hold a job with any stability and you don’t mind the work and get on with your boss and co-workers, it’s a vastly better deal than running your own show…being in business for yourself is almost a roll-back for the whole rationale of advanced economies: that of specialization. In a larger organization, the really good sales guy can mainly do sales, plus the unavoidable internal politics and bureaucratic tasks. The accountant can mainly do accounting, and so on.

By contrast, starting a business requires lots of skills, including selling, negotiating, having common sense about priorities, being able to size up potential backers and employees, being able to budget and manage funds. It’s a drag if you are really good at one particular thing to have to do all that other stuff, even if you are capable of it.

The payoff curve for entrepreneurship looks a lot like that of lines of employment that most parents would tell their kids to avoid: acting, playing sports, writing novels. Remember, 90% of all new businesses fail within three years. And like J.K. Rowling, A-list Hollywood stars, and football pros, the lure of the huge payoffs at the top end masks the steep falloff after that.

First of all, it’s not true that “90% of all new businesses fail within three years” – according to statistics from the Small Business Administration. about half of small businesses survive for five years or more, and one-third survive for 10 years or more. That’s a lot longer than I’ve lasted at any corporate job.

This article also makes it sound like entrepreneurship only offers rewards to the people at the top – as if most small business owners are a bunch of low-paid losers who would be better off trying to make it as actors in Hollywood. But even if we’re not going to be the next Bill Gates, most small business owners make a decent living – according to an American Express OPEN survey on the average entrepreneur’s salary. as of 2013, small business owners paid themselves an average annual salary of $68,000 – which is significantly more than the 2013 U.S. median household income of $52,250.

But more broadly, I disagree with the premise of the argument that it’s “too hard” to be a small business owner because you don’t get to specialize in what you do best.

It’s true that when you work for a big company, there are certain “economies of scale” that enable the big company to do things faster, cheaper, and perhaps better than a smaller company could. This is a basic principle of economics. However, for small business owners today, in the age of the Internet, there are so many great online small business tools and resources that can help you be more productive! You don’t have to be a big company to get big results in 2015 – you can use business-grade tools and resources to outsource, automate, and delegate various business tasks and daily operations, whether it’s basic back-office functions like simple accounting, invoicing, or payment processing, or more advanced skills like marketing, building customer relationships, and business inventory management .

As a small business owner today, you’re in business “for” yourself, but not “by” yourself. You can get help with almost any business topic imaginable online. You can connect with other entrepreneurs on LinkedIn for advice and ideas. You can get free business mentoring from SCORE, the Small Business Administration’s mentoring program. Even if you’re a solo entrepreneur or small business owner with only a few employees, there are many ways to make your business seem “bigger” without the bigger costs.

It’s simplistic (and wrong) to think that it’s too hard to be an entrepreneur, so no one should want to do it. I think it s actually the opposite – while it s never easy to run your own business – there are always financial risks and stresses, and lots of hard work – the Internet is making it easier than ever before to run a business. Not everyone has the right combination of ambition, hustle, vision, and sheer willpower that makes for a successful small business owner – but if you do, the rewards (and the daily sense of freedom) make it all worthwhile.

Ideally, as a small business owner, you should get to specialize more than ever before in doing what you do best every day. Use some of these cheap (or free) online business tools and mobile apps to outsource or automate the daily tasks that you don t like to do or aren t as good at. Being an entrepreneur helps you unleash your productive, creative potential like nothing else!





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