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We hope you find this arcthve useful. A subscription to The Small Business Advisor Newsletter is free. Subscribe now - it's easy! The Small Business Advisor Newsletter for December, 2000 (ISSN #1089-3121) ++++++++++++++++++++++++ Notes, tips, etc Remember also that
most of the information available on the Internet is NOT indexed by search
engines! Here are some sites to check for an amazing amount of information
that may not be found via the more traditional search techniques. http://dir.lycos.com/Reference/Searchable_Databases ++++++++++++++++++++++++ The value of planning in operating a small business can't be overemphasized. I hope you all are taking the time for this. This short article discusses the specifics of CASH planning - not fancy "projections" but real cash needs planning for the coming year. Every business is different so you must research your own specific needs. My consulting business does not have significant cash reserve needs but on the other hand our publishing business does need reserves - to cover the cost of large printing jobs and to sustain us during the typical 90-120 days it takes to get paid in this industry. Look at your own situation and ensure you have the cash to continue operating. Think "worse-case" when figuring your reserve amount. What if your major customer is late paying their bill? Part of cash flow planning is to set up a line of credit with your bank. If your business is new obtaining a line of credit is tough - it's almost certain you will have to personally guarantee this line. It takes time to set this up so don't wait until you actually need cash! This line of credit can be very handy, for example, in purchasing materials that have been unexpectedly reduced in price. It might make sense to stock up at the lower cost. Without your line of credit you might have to pass up opportunities such as this. Stay in close touch with major customers. It might be necessary for you to assist them in the event that they have cash problems. It might be to your advantage to carry them for a while. Again, your line of credit will come in handy. Helping a customer can make him a life-long loyal customer! Good cash management also requires you keep good records of expenses. It's easy with the software that is available. Programs such as Quicken and Quickbooks make organizing and tracking expenses an easy job. You should always check actual expenses against your planning numbers - make adjustments as necessary. Watch receivables and payables closely. Take advantage of prompt pay discounts and avoid late payments! Don't let outstanding accounts go much beyond the due dates - this can affect your cash flow projections. The good news about cash flow planning is that you will not have to worry about it and this gives you more time for the all important customers and employees. ++++++++++++++++++++++++ 1. My favorite -
start an e-mail based newsletter - like this one! ++++++++++++++++++++++++ Many people want to start a home-based business, but don't know where to begin. Often they have trouble coming up with ideas for a business. The best home-based business will take the following factors into account. What skills do you
have or can easily learn? This article will provide you with details of a few easy to start home based businesses. These ideas will give you a starting point in your search for the right opportunity for you. The Internet has opened up many new exciting possibilities for starting a web-based business at home. 1. Sell you own
designs on custom made Tee Shirts, Mugs, or other items. You can visit http://www.cafepress.com/ to set up your store. Here is how this works. Once your store is set up you send in the designs (pictures, graphics or text). Cafepress will create the imprinted items with your design whenever an order comes in. They charge a base price for each item. For example the Tee shirts are $10.95. If you sell the shirt for $15.95 you will earn $5 per sale. Cafepress then sends you a check each month with your earnings. This is an easy business to get started in. It enables you to produce nice custom made items at reasonable prices and Cafepress processes the orders for you. This leaves you free for marketing and promotion. 2. Open an Online
Store You will earn from 10% to 30% commission for each sale that your store makes. Vstore enables you to set up more than one store. Each can be based around a theme. For example; golf, toys, computers, or other product areas. You can find out more and sign up for your own vstore by visiting http://www.vstore.com 3. BUY A HOME BUSINESS
There are home-based businesses advertised on the Internet. Here is one of the best web sites that lists a large variety of businesses for sale: http://www.bizbuysell.com. Another method is to use a search engine such as altavista.com to look for businesses for sale. 4. Create E-books
for fun or Profit! If you write well, or have a friend who does, you can publish an e-book and be selling it over the Internet rather quickly. One of the keys to success is finding a niche topic and writing a high quality book. This will help you to obtain favorable reviews and gain free "word of mouth" advertising. There are several methods for creating e-books. First you produce the text files for the book using a word processing program such as MS Word. Next you import the book files into special e-book creation software. This software will automatically create the e-book for you. E-book software programs cost from $39 to $250. To find out more about creating e-books visit http://www.homebiznews.com/ebsale.htm 5. Start Your Own
Auction Web! * Visit the following
sites to gain insights on how others have started action web sites http://www.ebay.com,
yahoo.com, and haggle.com. Bid on a few items and maybe try to sell items
with your own auctions. Operating an auction site is fairly easy. However, it does take a lot of work to promote the site, and make it successful! Many people are also having great success by selling at auction sites such as Ebay. Today, the Internet makes it easier than ever to start a small home-based business. And these small businesses have the chance to grow quickly. The real work in any home based business is in marketing and promotion. You can learn more about operating a successful web based enterprise from the new E-book "Cash From the Internet". Visit http://www.homebiznews.com/imoc1.htm for more details. You can also gain a business education on the Internet. You can do this by visiting successful business sites and observe their methods. Any way is to subscribe to a few of the Free business ezines that are available from many web sites. Return to top of page - Back to Home Page - Back to Archive Index |