Starting Your Own Online Business – Plugging Into Plug-In Profit Sites!

When you hear about Plug-In Profit concept sites, and consider signing up to doing it, you will need to stop for a few moments and think this decision over. This decision should not be taken lightly because these sites require concentration, attention to detail, and considerable time investments that many other systems may not require.

Some mistakes people will make straight out of the gates, is they will expect this to be easy, and take only a few minutes here and there. Spending a few minutes here and there will cause nothing but pain because you will get very little results and a very small if any profit.

With new businesses people will jump in head first and immerse themselves immediately. While this type of enthusiasm is great and shows that you are passionate about the business, you will need to set boundaries. If you are always on, and never taking breaks and always up late into the night, and up in the early hours of the day, you will find you may end up burnt out fast, and once you end up burn yout you may end up losing all interest in a record amount of time.

How Can I Maximize My Chances For Success?

Well you need to remove the old world thinking of the harder and faster I work, the more profit I will make thinking. This is simply not true and you have to realize that it will in fact take some time to achieve the levels of business required to make profit. Patience is a virtue in this line of work that many people forget when they are looking for the next quick buck.

Once you have set up your website, and gotten things implemented, you will want to hit the ground running on advertisement. Providing free newsletters, and weekly company updates will be a great place to start. As would having a company mailing list, so that if you ever choose to add new sites or products to your business, or even new business, you can send feelers out to your current clients and they may be willing to purchase or invest in you based on previous dealings.

With a Plug-In Profit site, it is a very goal oriented business and you need to see yourself daily achievable goals, and even goals for your overall business. You need to have plans in place will regards to where you want to take your business, and you need to just be sure that you follow what you want to do, and do not allow someone else to try to make your decisions for you!

How Much Are You Losing by Not Franchising Your Business? 6 Factors You Must Consider

We’ve seen numerous articles through the years about what it costs to franchise your business, but I suggest you think about it another way:

What’s it cost you not to franchise your business?

Loss is greater than the cost

The cost to franchise a business varies greatly, from less than $40,000 to more than $150,000, and whether you spend a little or a lot, that amount pales in comparison to what you may lose by not franchising your business.

Before I get ahead of myself, however, and lest you believe that my only purpose in writing this article is to convince you to franchise your business, let me add these caveats:

  1. Franchising is not for every business, and that’s okay. Some businesses cannot be franchised. Other businesses should not be franchised. The business that loses is the one that should franchise and doesn’t.
  2. The initial fee to franchise a business is only the beginning of your investment. Don’t be misled. The initial fee usually covers the following: franchise documents, marketing plan, operations manual, sales materials … but it doesn’t come with a network of fee-paying franchisees! You will continue to invest in your business to cultivate a profitable network of franchisees. (By the way, I think your initial cost should be in the range of $100,000. Anything less and I’d question the quality of the product. Anything more and you’re probably paying too much).
  3. Franchising is probably not what you do now. It’s a business discipline of its own. You may be the world’s greatest manufacturer or representative of your product or service, but that’s not franchising. You’ll have to learn how to be a franchisor, and that’s not included in your initial development fee. Are you ready to quit what you’re doing (or do less of it) to learn how to be a franchiser?

The cost not to franchise

Those points out of the way, and assuming you’re still with me, here’s what it costs you not to franchise your business:

  1. Systemization. Profitable businesses revolve around systems. Marketing, sales, operations–these functions must be systematized to succeed in business. However, most businesses aren’t systematized, which is a primary reason for business failure. Michael Gerber’s best-selling book, The E-Myth, explains why. Franchising a business forces you to systematize–to create a series of systems that operate the business. A franchiser needs systems for finding, training, and supporting franchisees; for showing franchisees how to market and sell; and to teach franchisees how to operate the business in all kinds of situations. In franchising, everything revolves around systems! Along with brand identity, that’s mostly what the franchisee buys–the systems. No systems equals no franchise. No systems equals under-performing business. By systematizing you can maximize the profit-potential of your business. How much are you losing by not having systems?
  2. Market Penetration. Unless you’re in a small town, it’s difficult to penetrate a market when you own and operate the only unit of its kind. Imagine owning one of anything in Boston, Chicago, Los Angeles, Dallas. Even if you’re “the best,” you won’t penetrate the market. Your business may prosper, you may even generate plenty of money, but you’ll also create a market for competition. And what if the competition franchises? You may recall that “the best” businesses of their kind years ago were mom-and-pop operations. Pizza. Burgers. The butcher. The auto mechanic. And what happened to them when the franchises moved into town? They were replaced and the market now belongs to the franchises. Even among franchises there’s a constant battle for market penetration. If your business doesn’t grab a chunk of it, how much are you losing?
  3. Brand Awareness. Customers everywhere love familiarity. So much so, in fact, that when foreigners come to the USA to study or vacation, they sometimes take home a franchise concept! They become the master licensee for that concept in their country. Consumers move geographically, but they remain faithful to brands! If your brand is a single unit on the east side of town, how much awareness are you capturing? Low brand awareness equals lower business value. So when you eventually sell your business, what will you have lost if you haven’t scored brand awareness? Because of their advertising campaigns, franchises have a way of making consumers believe they are “everywhere.” And even if they’re not, it’s the brand awareness that counts. How much are you losing to brand awareness?
  4. Revenue Generation. Systems, market penetration and branding all result in greater revenues for a business. And while greater revenues don’t always result in greater profits, they do if the business is operated smartly. The cumulative sales of a franchise network will almost always out-perform even the best-operated solo unit. This is a case where more usually is better! Imagine how much revenue you could generate if you received a few percentage points (i.e. a 5% royalty) on every sale made by a member of your network–any where in the world! How much are you losing by limiting your revenue generation to one–or even several–units of your business?
  5. Internationalization. As a solo operator, or even the operator of a several units, your concern is what’s happening in your town or city–maybe even just your neighborhood. You don’t care about what’s happening in the next state, and certainly not another country. Your brand awareness, market penetration and revenues–all your efforts–are focused on your narrow interests. Assuming that people in Germany and Australia and China will buy your products and services, you’re obviously missing those opportunities because you’re confined to one small part of the world. How much more value would an international network add to your business?
  6. Peopleization. I know it’s not a word, but it should be! You may have thought, “I’m only one person. Even if I recruit my family and friends, I won’t have enough people to open units around the world. And besides that, I don’t have the money!” That’s why companies choose franchising as their method of distribution. If the company can’t open and operate all the units–and most can’t, or don’t want to–”peopleization” is the answer. Use other peoples’ money and talents to expand your business. That’s franchising! How much are you losing by not bringing more people into your business?

Add up your losses

So while most people are concerned about the cost of franchising a business, so what if it costs you $150,000–even $250,000–to franchise your business? What’s it worth to you to multiply one unit into 20, 200, 2,000, maybe 20,000 or more units? And sell your products and services to the world’s marketplace, while using other peoples money and talents?

Add it up, and that’s what you’re losing by not franchising your business.

Free Money – Business Grants For Start Ups

Millions of American taxpayers today have concerns about job security. A very constructive way to insure ongoing employment is to use free business grants from the United States government to establish your own business. Being self employed is a great way to make sure you don’t get laid off, like so many unfortunate others these days.

Starting a business can be quite expensive, but if you qualify for government business grants, it doesn’t cost the new proprietor a dime.

That is correct. Applicants who are found eligible to qualify for small business grants to establish new companies are most often awarded with large sums of free government money to get the start up costs taken care of. The happy recipient of the free grant award is more often than not able to finance every single item, service or materials associated with getting their new business up and running. These fortunate individuals almost never have to invest a single dollar out of their pockets to get the job done

The greatest part is, it will never be required that the free government money is paid back!

Because small business grants, like any other government funded grant programs, are not loans, if you qualify to receive this generous funding, you will never be responsible for paying it back…ever. You can literally accept the cash award, spend it on developing your new business, and never have to worry about repaying a single cent of it.

So how do I get this free government money?

That is also quite a simple process. By performing a free grant search online, you can scour the national grants database to locate the government agencies in your area that offer this financial assistance nationwide. From there you may request the proper government grant applications that pertain to your request, and be well on your way to a review by grant awards committee, at the local agency in your region.

From there, if you are approved, you will be just a few weeks away from enjoying financial independence, self employment, and the pride and joy of being an enterprising and successful new business owner, without ever paying the government back.