Archive for

Starting a New Online Business – “I’m Afraid it Will Cost Too Much Money to Start”

Have you been thinking about starting a new online business, but have procrastinated because of start-up capital? There are literally thousands of online business opportunities advertised daily on Google, Yahoo and Bing. Just how much should it cost to start an online business? How can hopeful entrepreneurs get financial assistance for their new business?

The online business industry is experiencing incredible growth right now, in spite of the global economic crisis. There are literally hundreds of companies that offer opportunities in this lucrative market and they are extremely popular in Canada, the US, England and Australia. One of the reasons these opportunities are so irresistible to entrepreneurs are their affordable start-up cost.

To get the proper perspective on how affordable online business and home based business start-up costs are, you need to take a look at more traditional small businesses. Brick and mortar businesses and franchise opportunities were the only small business opportunities just a couple of decades ago and would cost anywhere from $100,000 to $2.5 million to get started. This price does not include insurance, employee pay, or operating costs. Most online and home based businesses cost anywhere from $500 to $3000 to get started. They often require no more than a phone and a computer, so thousands of dollars are saved every month with no employees to pay and no consumables to be replaced. Since all your business is done online, you don’t pay rent for office space or have to worry about insurance.

However, there is another cost to consider with an online business – training. The most successful online business owners have something most people don’t have – a winning mindset. Ninety-seven percent of Americans have an employee mindset which has taught them there is more security where there is less risk. Therefore, most of us get out of bed and go to work everyday for the guy or gal with the winning mindset. They get rich and we stay broke. If you are seriously considering striking out on your own, you’ll need to invest in yourself by purchasing books to read, attending seminars and getting involved in groups where you can network with other successful people who possess a winning mindset. Fifty to one-hundred dollars a month spent on your own personal development is an investment that will pay you back over and over and over.

Most new entrepreneurs have one thing in common: they are broke when trying to get started. There are several options to help you finance your new online business venture. Some people will use credit cards. Others will seek a small business loan to get started. I got some great assistance from SCORE when I was forming my online business. Their website is They offer several free online workshops to help new entrepreneurs write a business plan, complete financial projections and prepare for the loan application process. Another resource I found was to apply for grants. You can work with a grant writing company for a fee.

Don’t let start-up cost prevent you from starting your entrepreneurial journey! Research the different opportunities and resources available and be on your way to your new successful future!

Starting an Online Business – When Should You Quit Your Daytime Job?

If you are working on starting an online business, then you know it takes time to do it right.

Finding the time you need to build your business and still enjoy a life with your family and friends can be a challenge — especially in the beginning.

A big temptation for many new entrepreneurs is to jump out of the frying pan into the fire. They believe the promises in the sales letters about secret internet marketing systems and magic tools that create income overnight, and the desire to be a 100% online business builder can be overwhelming.

While desire is a tremendous motivator, there are some facts about getting started online that you’ll want to consider before quitting your job.

Overnight Successes Hardly Ever Are (Overnight, that is)

Contrary to the sales letters you read, building a viable online business that will provide regular, substantial income for you and your family takes time. Sometimes not all that much time, but I’ve never seen “substantial overnight income” generated by someone who is just getting started building their online business.

You’ll want to have an income or a pile of money in the bank to live on while your business is developing.

The Path to Success Is Seldom a Straight Line

You will probably take a few wrong turns before you find the right market, product and venue for your online business. You don’t want to panic when this happens and give up on your dream. If you still have an income from your job, you will be better able to withstand the predictable ups and downs of entrepreneurship.

It Takes (Some) Money to Make Money

It takes money to start an online business. While it most likely won’t cost you anywhere near as much as getting started with a bricks and mortar business, there are costs and investments that are going to be required.

You will need good online access, a computer, a way of building your list and keeping in touch with your subscribers and customers, products to sell — you get the picture.

Learn from the Wisdom (and Mistakes) of Others

And you also need to plan that you will be investing in your education along the way, since you will want to collapse the learning curve as much as possible. Select good courses that show you what to do, how to do it, and when to do it. Buy only what you need for the next logical step in your business, not every course that comes your way. Consider hiring coaches and mentors as needed, and plan to attend a few live events in your market.

Include Business Start-Up Expenses in Your Budget

For most people, their online business startup expenses are funded by the income from their jobs. You will need to estimate those online expenses and include them in your budget. You may even find that you’ll have to give up some other expenditures in order to start your online business.

Can You Quit Your Job When Your Online Business is Profitable?

Successful business owners know that they can’t just use the initial income from their business to live on. In fact, a majority of them don’t take much, if any, profit from their businesses for quite some time. They reinvest their business profits back into the business so it can grow faster and stronger.

Does this mean you can’t use any of your hard-earned money from your online business for years and years? No, of course not. In fact, you should celebrate your successes. But don’t go crazy! Keep your long-term goals in mind, and act accordingly.

Starting an online business can be the very best thing you have ever done, and it can change your life forever. But you have to treat it like a real business to have real results.

Buy Property in Arlington, Virginia and You’ll Be Making a Great Investment

When I first moved to Arlington, Virginia, I was twelve years old. It was the same year that my parents decided to buy property there, and so this small Virginia town became my home. My parents were commuters to Washington, D.C., both holding government jobs, and our home was just three metro stops and a fifteen-minute drive from their work across the border and the Potomac River. It was a commuters dream: great schools and all the charm of the suburbs, along with an easy drive to and from work. My parents loved it, because the town was full of plenty of families, and thus full of kids to entertain their own. Like most things Virginia, the town is rich in history and to this day the smallest self-governing county in the United States.

Do a little research, and it is not hard to see why so many young professionals decide to buy property there. In 2006 CNN Money named Arlington the most educated city in the United States. Consistently Arlington has among the highest median household incomes, and BusinessWeek ranked it the safest city in which to weather a recession. It has been named among the best places to be rich and single, and Parenting magazine named it the best city for families. Everyone seems to agree that the decision to buy property in Arlington, Virginia is a good one. The resilient economy and great reputation have sustained a lot of growth and development, so parts of the city continue to just get better and better, with small shops and restaurants appearing all over the place. Clarendon, a neighborhood in Arlington, is exemplary of this phenomenon. Growth has primarily been around the metro stops, making environmentally friendly transportation easy and cool.

The neighborhoods of Arlington, Virginia are especially diverse, from Rosslyn, sitting on the Potomac with great views of D.C., to Ballston, a neighborhood that combines a commercial metropolis with suburban wholesomeness. The Pentagon and Arlington National Cemetery are among the most popular tourist attractions, but the real reason to buy property would be the numerous bike trails, the cities walk-ability, the great food, and the general community oriented vibe. Purchase property if you want to make a good investment, raise a family, or spend a decade living outside of D.C. and enjoying all the things two cities, literally walking distance apart, have to offer. I am not sure I appreciated Arlington, Virginia enough growing up, but in retrospect my parents made a great decision moving us there. They invested in a county that spends about half its revenue on education, a place where you can buy property and know that in twenty years your kids will still be benefiting from your sound foresight.