Business

Nahas 1

Business Ownership

Finding a consistent well paying job has been getting harder and harder in recent years. A number of new and great business opportunities are available to the public. These opportunities only cash in if you run a well oiled business plan. Anything from wholesaling vehicles to owning your own pizza parlor are great starts in business. Although, owning and operating a business is a great burden on a person, it can turn out to be very profitable.

While trying to choose a business to start up there are many different factors to think about. An easier choice is to buy an existing business. It starts up as being a lot cheaper to start than your own business that you start from scratch. With no start up fees, you will certainly have a profit now business. Other great opportunities are with pre-existing customers, and easier financing with the bank. “The biggest block to buying a small business outright is the initial purchasing cost.” (Homepage, Free Business) The initial purchasing cost of any business is going to be a great financial burden. Because the business is already up and running, along with the customer base, brands, and having the basic work done is a great advantage, but will make the business more expensive.

Good research is a way to distinguish between a good business and a bad one. Once you can comfortably go in and knowingly talk to another person in a business sense then you are a good researcher. Research is the key to running and operating your small business successfully. A good researcher would find out certain things about each business that other unresearched people would over look. Seeing these little important factors are the strings tied to the whole business. These factors could be little things that keep the business from running smoothly.

While reading a website about what not to do while buying a business I found ten points that really caught my eye.

1. DON’T overextend financially when buying a franchise. Never, never buy a business that you can’t afford – it is the number one reason that businesses fail. They simply run out of cash to operate and advertise before they have enough customers and cash flow to support the business.

2. &...

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...y, the training may be inadequate or you may be hiring the wrong type of people.

Rehearse: Rehearse your critical delivery. Play out criticism in your mind before actually confronting an employee. If you fail to practice this step, in the "heat of the moment", you may find yourself using old unproductive styles. What might happen is that the employee will concentrate his or her efforts on a sharp rebuttal rather than listening to you. If you rehearse, the employee is apt to walk away feeling positive. (How to Manage a Business page 2) Doing these things will ensure you get the respect of you employees.

Running a business is a lot harder then it seems. There are many different factors that go into it and many different turns you cant take on the road to success or failure. All you can do is open a business and know what your working with. If you do that your business will be helped greatly. Knowledge is key in managing your own business. The more you know, the more you can get done in a shorter time. Owning your own business isn’t all its cracked up to be, it is hard, and a lot of time and effort go into it.