Tag Archives: start-up

The “Top 10″ Reasons to Start New Business Today

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By Brad Sugars

Do you have one good reason to start your business right now?

How about 10?

Regardless of what people around you may say, right now is absolutely the best time to get into business, and I’ll give you 10 good reasons “why” – no matter what other people or the media say.

If you don’t believe me, just go back and look at the slowdowns throughout economic history. Most recessions in the post-World War II era U.S. last just an average of 10 months, followed by growth cycles that last an average of 50 months.

What this means for the start-up is there is no better time than right now to get going and start pursuing your business dreams – in anticipation of the next period of growth.

1)First, everything is cheaper. There is great value right now in this and in world markets. As asset prices have been knocked down, there is no better time to get into the real estate or financial markets, or even heavy equipment and construction. Some people have waited years to find value in these markets – and now that time has come.

2)You can hire more team and better qualified people. In an era when big companies are laying off, you can find great resources at affordable rates. There are plenty of engineers, accountants and attorneys looking for their next opportunity.

3)People are looking to change suppliers. From a cost perspective, everything is “on the table” for most companies. If you can come in with greater value even if your prices are higher, you have a good chance at winning new business.

4)Ownership equals tax incentives. Business ownership offers a variety of tax benefits that aren’t available to employees. While taxes should never be the sole reason to go into business for yourself, it should be one reason to add to you “benefits of business ownership” list.

5)Family and friends don’t want to (or can’t) invest more money into the stock or real estate markets. That means they may be willing to finance a portion of your new venture, or the expansion of an enterprise that has proven itself over time. The main benefit is that they know you and have a relationship with you – and if you have a solid business plan that delivers real numbers, the chances of raising the capital you need increase exponentially.

6)Suppliers are giving better credit. Because the credit markets have virtually shut down, the business-to-business credit flows are keeping money circulating out of sheer necessity. That means a bullish outlook for companies looking for good terms on stock and/or inventories. The main advantage is that all parties have more incentive than ever for finding true “win-win” situations that allow for cash and stock flow. When everyone is looking to survive, great deals can be had.

7)You can get good PR by showing you are “going against the trend.” If you are optimistic by expanding or getting into business now, you would be in that category. That means you can generate some great PR by demonstrating your “alternative” view of the market.

8)You can buy everything you need at auction. In addition to everything being less expensive, you can find great deals at auctions, especially in terms of any large equipment and office furnishings. Auctions are also a great place to find hardly used or “gently” used restaurant and bar supplies at great prices.

9)You can find great “low money” or “no money” down deals. This is simply being aware of good opportunities others have messed-up, and finding deals where you could get an entire business simply by taking over a lease (along with all the equipment). Many business owners want out at “any cost,” meaning you can negotiate great “win-win” deals.

10)You’ve lost your job and you have to do something. Sometimes, the best business decision is the one you are forced into. There’s nothing wrong with being in this position; it just means there is greater urgency to do something that will start to generate income as quickly as possible.

There you have it. There is no better time to start than the present.

So get going.

Not only will you fulfill your entrepreneurial desire, you’ll find opportunities you couldn’t have imagined, and you’ll also be facing a lot less competition.

For more information on Brad Sugars please visit: http://askbradsugars.com/ -or- For more information on Business Coaching please visit http://www.businesscoachbook.com

How to Write a Great Business Vision Statement

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852252_the_eye_of_a_peacockAs a small business start-up coach and consultant, one of my favorite things to do is help my clients write vision statements for their businesses. However, this isn’t always easy for them to do.
Why? Because they, like many people, think vision statements and mission statements are one and the same. They haven’t really stopped to consider what the purpose of a vision statement is or why having one could be an asset.

Vision statements are supposed to be big and bold. They’re meant to inspire, energize, and create a captivating picture of where you see your business going in the future.

If you don’t write a vision statement, your business will be without direction. When you complete one, your vision statement will supply the inspiration for the daily operations of your business and motivation for its strategic decisions.

Every business needs a vision statement. Want to make sure you’ve written a great one? Just follow these guidelines, fill out the vision statement formula at the end of this article, and you will have created a vision statement that clearly articulates the future of your business and paints a vivid picture for its success!

What’s the difference between a vision statement and a mission statement?

Vision and mission statements are two separate entities that answer two different, yet complementary, questions about your business.

Simply put, your vision statement answers the question, “Where do I see my business going?” Your mission statement answers the question, “Why does my business exist?”

From the start, vision statements are future-focused and written with the end result in mind. Mission statements are focused in the present and state the fundamental purpose of your business.

Which comes first: the vision or the mission?

If you are a new business just starting up, a larger company getting ready to add a new program, or an existing organization planning to overhaul your current services, then write your vision statement first.

If you are an established business with a mission statement already in place, then let your mission guide the writing of your vision statement.

Top Five Things to Keep in Mind When Writing Your Vision Statement

1. Describe outcomes that are five to ten years out.

2. Dream big and focus on success.

3. Write your vision statement in the present tense.

4. Infuse your vision statement with passion.

5. Paint a graphic mental picture of the business you want.

There is no space limit when writing a vision statement. They often contain one or more paragraphs. Write as much as you need to in order to create a dynamic mental picture of your business that will serve to energize and inspire you and your team.

Two Vision Statement Formulas for Success

Here are two basic vision statement formulas. The first one is for businesses starting up without a mission statement. The second is for businesses that already have a mission statement in place.

1. Five years from now, _______________________________ (name of your business)

will become a successful ___________________________ (type or description of business including whether it will be local, regional, national, or international in its scope)

by providing ____________________________(description of your products and/or services)

to _____________________________________________(your customers).

Example: Five years from now, the Sierra Women’s Shelter will become a successfully run non-profit shelter serving the Greater Pittsburgh area providing education, life-skills training, and the necessary support to help women who have been previously battered or abused build self-sufficient, sustaining, prosperous lives.

2. Within the next ________ (add a number) years,

grow ___________________________________ (name of your business)

into a successful _______________________________________ (type or description of business including whether it will be local, regional, national, or international in its scope),

increasing revenues to ____________________________ (amount) by _________________ (date)

providing _______________________________(description of your products and/or services)

to _____________________________________________(your customers).

Example: Within the next five years, grow Cultural Awareness Travel into the premier North American women’s tour company increasing revenues to $225,000 by 2012 by becoming known for helping women to develop greater self-awareness and confidence and to discover a new respect for diversity through cross-cultural exposure.

Your vision statement sets the tone for your business. It defines its future. It inspires, energizes, motivates, and, above all else, describes what will be achieved if your business is successful. It is impossible to plan the direction of your business without one. Follow these guidelines, and use the vision statement formula to perfectly articulate your dream, your passion, and the direction you envision for your business.

Dr. Susan L. Reid is a business coach and consultant for entrepreneurial women starting up businesses. She is the author of “Discovering Your Inner Samurai: The Entrepreneurial Woman’s Journey to Business Success.”