Small Business Opportunities
Software developer in search for business opportunities, any ideas?
After doing some side business for a while and working for several years for big companies I think I am ready to take the next step.
I am a software developer in the GTA (Great Toronto Area) and I don’t know where to start.
Initially I thought of advertising in a local newspaper, preferably one focused on small businesses, offering my development services for free and charging for maintenance or hosting (if the customer decides to have access to the application from anywhere). Of course, I will have to evaluate the proposals and choose one that is also attractive to me as a business, therefore it will become sort of a win/win situation.
After this stage I will start commercializing the applications I initially built for free.
Please let me know your thoughts on this approach. Or, if you have other ideas please feel free to expose them.
Also, if you have a small business and have a need, let me know.
you may want to focus on an industry type, develop a type of usefull software for that industry type, and then template it so that you can easily adapt it to many users so that you can charge a more reasonable cost on the front end and have the user and service fees cover your on going cashflow requirements.
example
Realtors, car sales, insurance, mortgage brokers, and other professional sales people, all need and want better contact information systems (although there are many in the market)
create one that has some magic bullet, offer it to the agents, their brokers, the industry in general and off you go.
another way is to form a partnership with a company in need of a software and web based solution to a business opportunity. they have the business concept, you create the web and software solution for marketing and distribution around it and sell the product and or service.
a third way is to work with for instance an educator/ public speaker, and create a partnership where you make it possible for the speaker to offer his her wares, on line by subscription, and instant access. (learning on line).
I have a few ideas in regards of this type of services and would not mind discussing it with you in a different medium.
I hope this helps you Good Luck
Global trade opportunities for small business
Professor Jeff Rosensweig from Emory University’s Goizueta Business School talks about the UPS Business Monitor survey, which shows few small businesses take part in global trade.
“UPS Survey Takes Pulse of Small Business Owners” at:
http://www.pressroom.ups.com/pressreleases/current/
Duration : 0:1:35
How to Make Money with best Small Business – Energy Saving
For further proof see:
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Making money from home by helping everyone save money is a win – win ideal business.
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Duration : 0:5:53
What’s the best small business in the Philippines for foreigners ?
hello, I decided to move to Manila, Philippines and would like do some small business for a start. could you pls give me some ideas what could be the best business opportunity in the Philippines with small capital?
thanks
Capitalize on where you came from.
If from the Middle east, a shawarma business. The customers will know it will be authentic.
If from Thailand, a food shop serving hot, spicy dishes
If rom Vietnam, a food store serving mostly veges with lots of herbs
If from Australia, maybe serve barbecue
If from Italy, sell gelato
etc etc
Do not try to do what everybody else is doing. Find either a niche, or an advantage versus others that will make it believable simply because you come from there.
What is a good idea for a small business in Sydney, Australia?
Looking for small business opportunity in Sydney without having to spend much money, low overheads and without purchasing excessive amounts of stock
I think a 24/7 cafe that did not serve alcohol and promotes people to read books, research on laptop and or hang out would be great. Now days so many places where people just want to drink and run a muck i think this would be a great niche market an once the right people knew about it i am sure it would take off!
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Duration : 0:6:40
CBCF Baltimore Economic Recovery Forum – Breakout Session I
Breakout Session I (Banquet Room)
Small Business Opportunities: Federal and State Funded Projects
This session will examine opportunities for small businesses under the Recovery Act. This session will also focus on identifying types of assistance available to small business owners/minority business owners and how current small business owners may access these resources. This session will also identify federal contracting opportunities available for small businesses.
•Reggie Anderson, Reggie Anderson-C. Jones Trucking
•Paula B. Cullings, Director, Office of Fair Practices, Maryland Transit Administration
•C. Alan Krimm, Office of Construction Contract Awards, Maryland State Highway Administration
•Oliver J. Phillips, Assistant District Director, Baltimore District Office, U.S. Small Business Administration
•Stanley Tucker, President and CEO, Meridian Management Group
•Luwanda W. Jenkins, Special Secretary of Minority Affairs, Office of the Governor Moderator
Duration : 1:41:51
Small Business Opportunities (MU Extension)
University of Missouri Extension aids in transforming small business concepts into reality.
Duration : 0:2:9
Giving a shout out to Derrick Harper and digging my hair.
Just out here talking about my home based business, Wealth Funnel System 2. My mentors Derrick Harper and Jamison Herdrich have really taught me a great deal about what it takes to successfully run an online business and make my dreams come true and to make my time my own.
We market Global Resorts Network which offers Luxury travel to some of the finest Hotels and Condos with very desirable destinations in the U.S. and the world with prices starting at $298/week. We also offer Cruise packages to some of the most exciting places at very affordable prices. My name is Ray Rostad and my phone# is 717-549-3031.My website is www.successinhbb.info so feel free to stop by and check this exciting opportunity out.
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Duration : 0:1:59
How Do you find a financial backer for a small business?
I have previously owned a small business, it was very successful but one of our trucks completely died and the other kept needing repairs that the company we leased the truck through was supposed to fix for us. They never fixed the problems so we gave the truck back. Unfortunately now that is considered a repossession and I declared bankruptcy due to never incorporating my business. I have the opportunity to get started again, and I still have my major contract. I can provide additional information to anyone interested. I just don’t know where to look. This is my life dream, if i had even 5,000$ last time I could have fixed my truck and never went bankrupt. I want to do this right, and be successful. I am a hard worker and until the problems with that truck my credit was immaculate.
First, I congratulate on your entrepreneurial spirit and determination.
Second, I would advise that you learn from your mistakes, but don’t dwell on them.
Now, the good stuff. The first thing that you need to is understand the idea of "planning" your business. You need to consider a formal business entity structure both from the position of liability and from the position of taxes and other financial concerns. Formation as an LLC or Corp. can help avoid situations like your past one that led to a personal bankruptcy. Most likey, you will find an LLC sufficient for your needs and optimal in consideration of requirements for maintenance of the entity. Moreover, the pass through taxation aspect may appeal to you as well. In any case, consult an attorney or do your own research regarding available structures in your state.
Next, you need to consider the capitalizaton of your business. Many businesses fail due to under-capitalization,and it appears as though this may have been an issue in your past. Put simply, this means that you need enough money to get the business up and running and keep it that way. You need to have "enough" money so that you can meet the bills that are to come and to support the business until the business can support itself. Like business entity choice and formation, this should be part of your business plan.
Insofar as actually raising this needed capital is concerned, there is (1) debt financing and (2) equity financing.
Debt financing is a loan. Basically, you go to a bank or other financial institution or person with money to lend and ask for a loan. It sounds as though as a small business you likely need a relatively small amount to get started, so an SBA loan may be optimal. Insofar as banks and SBA loans are concerned, you should expect to be required to provide 25-33% equity in the venture, assuming you meet the lending guidelines. This means, that if you need $100k for the business, expect to contibute 25-33% of that yourself in order to secure the loan. You can use equity in your home, investments, and a host of other assets to "put up" as collateral toward the venture, as well as plain old American cash. Now, an SBA loan is NOT money that the govt loans to you, but is a loan that a lender provides, subject to standard guidelines, that is basically secured by the government for the benefit of the lender. All of that said, it sounds like you will likely need to improve your credit score and/or secure the equity needed for the loan if you elect to pursue debt financing.
Equity financing, on the other hand, may be a better option for you, assuming that you have the wonderful, can’t miss business that you think it is. Equity financing is basically selling a piece of the business to an investor. So, let’s say you find someone with money. You do your plan and figure you need $100k. You may "sell" a half interest in the business to someone for say $100k, and you do all the work, execute the plan, etc. This "partner" may be silent or may want a more active role. Either way, you may be looking for an "angel" investor who helps you to realize your dream.
Keep in mind, however, that there are consequences to either approach. Debt financing, although it may be a debt of the business, may likely be personally guaranteed (translation: you still have responsibility in the event of the business’ default), and in any case, may subject you to losing the collateral. However, once paid, you don’t owe anyone anything and the business is YOURS. Equity financing, however, requires you to give up ownership interest, but at the same time does not have to be repaid. The investor is "betting" on your success. And, if you succeed, the investor owns a chunk of your business–period.
In your case, what you may want to consider is some sort of combination–find a partner who has good credit and maybe can contribute some of the needed equity and maybe you get an SBA loan, secured by the necessary collateral, maybe using the partner’s credit. A fair exchange may be your putting up the equity and the partner putting up the capital. This may work, but really depends on the lender’s guidelines.
Finally, as it appears that you have a customer base/contract and have experience in this business, you may have a stronger business plan than you think. What you should be careful about is underestimating contingencies as you did in the past. If you are asked about "what happened" in the past, be honest and explain that you failed to adequately plan and capitalize the venture and have learned from that experience. Meanwhile, your skill/expertise in the underlying "thing" is outstanding, and you just need to make sure that you have the proper foundation and structure in place so that the business can be viable and grow into a self-sustaining and profitable venture. Your capacity to do "the thing" is most definitely a consideration in the financing process. After all, who would invest in a chef’s new restaurant if the chef can’t cook or if the cook never went to cooking school and has never ran a restaurant before, but is basically a pipe-dreaming accountant? The fact that you can do "it" is important and should give you hope.
In any case, I wish you the best and hope that I provided some useful information.
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