Want to Start a Business? Here's 7 Financial Tips For Success

Want to Start a Business? Here's 7 Financial Tips For Success

You will need all of the guidelines you can get when it comes to starting a business today. The following 7 guidelines are necessary and crucial to financially securing your business long before you open the doors.

1. Do plan to start with your own money, not someone else's. The money to start your business will come from your right or left pocket. In fact, there are three pools of money you should have before your start a business: an emergency savings account, enough budget to go from 12 to 24 months without a paycheck, and the first year of operating capital to run your business.
2.  Do request major funding long before you need it. Maybe you recently saw The Social Network, the movie about the launch of Facebook, and thought that you could score big dollars fast from venture capitalists? Think again. Realize that getting money from VCs and angel investors can be a longer-than-expected process, sometimes 6 to 12 months to secure. 
3.  Do seek "trade credit" from vendors and suppliers. Too many entrepreneurs dream of going to a bank and getting a business loan or line of credit for their enterprise. But maybe you don’t need a traditional bank loan at all to launch or grow your business. If you can get your vendors and suppliers to agree to provide you with trade credit—i.e., the ability to pay for goods and services over time—you can creatively and more frugally run your operations.
4. Do get buy-in from your spouse/partner. Many new (and veteran) entrepreneurs will tell you one of the biggest dream killers they’ve encountered is an un-supportive spouse. Make sure your partner is on board with your entrepreneurial ambitions. If not, you'll face a host of financial arguments and money-battles that will be counter-productive to you building a business and to your relationship. Read more here.

While preparing your business with the best financial steps you can make, you will need to document your financial plans. You will need a business plan created exclusively for your business and the financial future of your business.


IWRITE professionals can help you produce the most effective and professional business plan for your startup.


Contact them today for assistance.

Get Free Business Cards with IWRITE's Business Plan Services

Free Business Cards with IWRITE's Business Plan Services

If you are ready to jump start your business or wanting to get investors interested in you business, its time for you to get your business plan done with IWRITE. 

Not only do you need to have your business on track with a business plan, but you also need business cards to present to potential and new customers and clients.

This is why we are offering FREE business cards when you get a business plan done with IWRITE.

Contact us to get your business plan and business cards TODAY!

IWRITE'S NEW SERVICE: BUSINESS CARDS

That's right! IWRITE makes business cards too! Check out the prices below:

                                                QTY           Black & White         Color

Healthcare Industry Accounts For Nearly Half of America's New Jobs

Healthcare Industry Accounts For Nearly Half of America's New Jobs

The Business Insider reports:

The economy added a net 69K new jobs in May, according to this morning's Non-Farm Payrolls report.
And nearly half can be attributed to one industry: Healthcare.

Over 30K new jobs were created in this industry.

What's more, as you can see in the chart below (which measures the monthly change in the industry), there hasn't been a single negative month in this industry all through the recession and recovery. Source

The growth of this industry is proving to be stellar for the long term professional.

This bit of valuable news reminds us that getting our resumes renewed and updated is very important, especially if you are seeking to plug into the healthcare industry. 

An IWRITE professional can help you with your resume and get you on your way to landing a promising position with a healthcare provider and institution.

The First Step to a Successful Business: Writing a Business Plan Says Amazon Founder

 The First Step to a Successful Business: Writing a Business Plan

The advice below comes from the Founder and CEO of Amazon, Jeff Bezos.

Jeff Bezos is an American entrepreneur who played a key role in the growth of e-commerce as the founder and chief executive officer of Amazon.com, Inc., an online merchant of books and later of a wide variety of products. Under his guidance, Amazon.com became the largest retailer on the World Wide Web and the model for Internet sales. -Wikipedia

"So, you want to start a company...Well, the first thing you do is you should write a business plan, and so I did that. I wrote about a 30-page business plan. I wrote a first draft.."

"You know the business plan won't survive its first encounters with reality. It will always be different. The reality will never be the plan, but the discipline of writing the plan forces you to think through some of the issues and to get sort of mentally comfortable in the space. Then you start to understand, if you push on this knob this will move over here and so on. So, that's the first step." -Source

Now is the time to get your business plan started. If you don't have a business plan, you will never really know exactly what you want to do; where you want to go and ultimately what your goals are for the future. A business plan can open many doors for you as well as make your business goals visually clear.

We are in the business of helping businesses start off right and get them going in the right direction.

IWRITE does business plans at an affordable rate. If you need help getting your thoughts and ideas on paper and need our expertise in writing a business plan for you, contact us now for a free consultation HERE.

How Writing Down Your Thoughts Are Important To Achieve Goals

Writing on a daily basis can be beneficial to anyone. Lets admit, we all are guilty of going days, weeks, even months without writing. I'm not just talking about writing one or two words, but expressing your thoughts, ideas, and things that you would like to accomplish on paper. Often times we tend to become too busy to write, have more important things to do than to write, or we just don't write at all. It is very important that we take at least 5-15 minutes everyday to write.

Three specific reasons why it is so important to write down your thoughts, ideas, and the things you accomplish daily:

1.) Your thoughts are like specks of small pieces of gold that are found deep in the earth. Just think about it; your thoughts are full of precious imagery and imagination, that produces into an idea. The similarity of gold and writing your thoughts down is this: the earth represents your brain, and gold represents your thoughts. So, if your thoughts are like gold, why don't you cherish it as that?

2.)Your idea set the stage for your success. Anytime your mind produces a thought, that thought eventually turns into an idea,which enfolds into a process called, "Planting a Seed."

3.) Your accomplishments become noticeable. Your accomplishments allows you to appreciate the steps taken forward, even when you may not realize that you have taken those steps. Afterwards, those steps become milestones which you can allow yourself to look back on to see how far you have come in your journey.

"Write because after a while those things we don't acknowledge will be forgotten." -IWRITE, Ltd Co.

How You Can Turn $1,000 Into $1 Million with Your Business

 How You Can Turn $1,000 Into $1 Million with Your Business

In the following article, it describes how a few businesses were interviewed and how they turned a small amount of money into a serious cash flow with their own businesses. Are you put for the challenge and the reward?

Read below about a how these people did it:

Many of these individuals started businesses with less than $1,000 and are now earning more than $1 million per year in revenue. All of them bootstrapped their own business with no outside cash and a minimal capital investment from their own bank account. Here is a brief primer on bootstrapping a business.

So how does one start with very little money and turn that into $1 million per year? Here are five stories of regular people building million-dollar businesses. Also keep in mind many of these businesses came from a passion of what they loved to do.

PostcardMania. Joy Gendusa was a freelancer who wanted to buy some postcards to advertise her business. She was shocked by the unnecessary fees she had to pay just to get some postcards made, so she decided to start her own postcard business with a friendly price structure for customers. PostcardMania was born.

Gendusa started the company with no capital investment and used the money from the first customer to pay the printer for her first postcards. In the early days, the payment schedule was tight. She had to get money from the customers and use that cash to pay her printer, but she kept bringing in new business and eventually built up a little bit of cash.

As PostcardMania continued to grow, Gendusa noticed customers asking for other services. They would say things like, "Who built your website?" or "Can you do email marketing too?" So PostcardMania started branching into those areas as well. Today, the company offers all sorts of advertising and marketing for its clients and makes close to $20 million per year.

As you can see direct sales and marketing is what made her business the success it is today!

Blue Buddha Boutique. Rebeca Mojica went to a Renaissance Festival and noticed a unique metal belt made from chainmaille rings. After searching for something similar, she couldn't find the belts anywhere and decided to try and make her own.

Mojica spent $20 on that first set of rings and sold a few belts to a few friends and family. However, it wasn't until she started teaching other people how to make the belts that she really saw the potential for a business.

Mojica began teaching chainmaille classes and decided to sell the rings and pliers needed to make the belts to her students. She made $300 the first time she sold the supplies. Soon after, Blue Buddha Boutique was born and it rapidly became one of the top sellers of chainmaille jewelry supplies. Blue Buddha Boutique now has 13 employees and is set to break the million dollar mark in 2012.

M&E Painting. Matt Shoup worked as a painter during the summers in college. When he was let go from his job his financial services job a few years later, he decided to start a painting business.

Starting with just $100, Shoup woke up the next day and went door to door in his neighborhood, knocking on houses that looked like they could use a paint job. He enlisted a few friends for help and M&E Painting made more than $500,000 in that first year. Seven years later, the company has more than 4,000 customers and makes between $1.5 and $2.5 million every year. Source

As you can see, the passion to do what these business owners did, resulted in an overflow of revenue for them and with very little money. It did not happen overnight, but with hard work, dedication and a will to do their best, true success happened for them and it can happen for you!!

Take some time out to see what you've been wanting to get started. You may never know what you are losing out on if you never get your business idea and business plan into motion. 

IWRITE can help you with your business plan and get you started on your way to not just dreaming of being a success but really living it!

IWRITE Can Help Baby Boomers With 2nd Career with New Resume or Business Plan

 IWRITE Can Help Baby Boomers With 2nd Career with New Resume or Business Plan

We know those who are at the retired age are not giving up on being productive in society. The truth is: they don't have to. Read the following article from US News is about how baby boomers are seeking new careers with stride:

Many baby boomers plan to keep working in some capacity after retirement. While some people will delay retirement because they need the money, others will take a job to ward off boredom and keep busy.

Previous generations of retirees may have envisioned retirement as a relaxing, stress-free escape from the demands of the working world. A more labor intensive and often physically demanding work typified earlier careers, and retirement was often necessary for a tired and worn out body.

However, the demands on today’s knowledge workers are more mental than physical. Many baby boomers, who have already begun to reach age 65, are far from physically exhausted and often have much more to give. Few of these active seniors have a physical need to retire from the working world. And many baby boomers are choosing to continue working well beyond age 65...

Instead, retirement can be a time to explore creative new avenues, and put the skills you have cultivated throughout your career to work in new ways. Your second career can be an opportunity to venture down an avenue that has interested you, but that you were unable to pursue due to circumstances. In retirement, you have the freedom to choose what you want to do rather than what you have to do. 

So, there is no reason why anyone has to retire and be made to feel like life is over, because it is not. Baby boomers are free to explore career avenues they dreamed of but were not able to pursue years ago.

Now is the time to get your resume renewed and refreshed. How about getting a business plan done by our IWRITE professionals and getting on the road to operating your own business?

The time is NOW to get started and IWRITE can help you make those critical first steps to pursuing dreams you have always wanted.

Call or contact us today. We will be happy to assist you!

Source

Find Out Why Some Start Ups Succeed and Others Fail

 Find Out Why Some Start Ups Succeed and Others Fail

Why do some startups succeed and others fail?

The Business Insider has some interesting insight on the subject:

Paul Gompers, Anna Kovner, Josh Lerner and David Scharfstein put together a Harvard Business School working paper to answer that question, Performance Persistence in Entrepreneurship.
In it, they answer things like:

• Do first time entrepreneurs have it harder?
• What's in a VC's name?
• Are successful entrepreneurs skilled or just lucky?

Check Out a few of those answers below:

Do serial entrepreneurs have a leg up on first time entrepreneurs?

Answer: Yes. Serial entrepreneurs are more likely to build successful startups.
According to the Harvard researchers, there is performance persistence in entrepreneurship.
They write, "All else equal, a venture-capital-backed entrepreneur who succeeds in a venture (by our definition, starts a company that goes public) has a 30% chance of succeeding in his next venture. By contrast, first-time entrepreneurs have only an 18% chance of succeeding and entrepreneurs who previously failed have a 20% chance of succeeding."  

But we have to state that no one should give up on their dreams for a start up business. Where there is a will, there is a way. We believe if the business dream is desired and sought after to its end, it will be fulfilled.

Who is more likely to get a VC's check; a founder who failed at their last venture or a founder who succeeded?

Answer: If it's the same VC firm, the failed entrepreneur.
Failed entrepreneurs are more likely to get funding than successful entrepreneurs from the same VC firm.
Strange but true.

Is running a successful venture skill, luck or timing?

Answer: Successful entrepreneurs are skilled at timing the market.


Here's why:

According to the Harvard paper, "The industry-year success rate in the first venture is the best predictor of success in the subsequent venture.  Entrepreneurs who succeeded by investing in a good industry and year (e.g., computers in 1983) are far more likely to succeed in their subsequent ventures than those who succeeded by doing better than other firms founded in the same industry and year (e.g., succeeding in computers in 1985).

Read more on the 10 Harvard findings here.

To get started with your business venture, make sure to check out our services. A business plan is your first step to success in your new business.

How to Use Homophones Correctly When Writing

Homophones are words that sound alike, but have different meaning. The article below thoroughly explains how to correctly use and spell that which we called, "homophones". Enjoy!

Read article from Writing Forward:

Homophones are words that sound alike but have different meanings. Many homophones also have different spellings, and all too often, people mix them up.

The result is an onslaught of misspellings throughout the written universe. Although these mistakes are understandable, they are problematic since they are contagious. If someone sees a set of homophones used incorrectly or misspelled  enough times, they will assume the usage is correct and adopt it.

 Thus, the errors spread.

Ideally, we’d just make sure that our language doesn’t contain these types of words. I’m sure we are creative enough to come up with completely new words, but unfortunately, language evolves of its own accord, so we must make do with what we have.

Read more HERE

Four Ways To Properly Write A Resignation Letter

About a week ago, we asked a question on our Facebook Page, "what's a proper way of writing a resignation letter to your employer"? Resignation letters can be short, and straight to the point. And they can also be long-winded. Here's a few tips on what you should include while writing a resignation letter.

1.) Remain cohesive in your letter. There's nothing more irritating than reading a resignation letter that's "foggy", and misinterpreted. Be as clear and focus as possible, and remain on point.

2.) Use correct word usage. Beware of fragments, and misspell words.

3.) It's okay to announce how appreciative you were while being employed with the employer. Businesses want feedback. Rather its positive or negative, companies want to know how they can "retain" their workers.

4.) And lastly, say "Thank You". Thank the employer for the opportunity of employment.

How To Make Writing a Fun Activity Without Frustration and Pressure

Can writing be a fun activity? Sure it can. The article below explains why and how writing can, and should be fun. Enjoy!

Writing for fun is overlooked and under-appreciated. Writing is portrayed as a serious subject. Writers whinge and whine about the torment of their profession. It’s purveyed as a mystical process where writers wrack their hearts and souls for each precious word.

Visions of dark, lonely towers, bleary eyes and endless cups of coffee abound. Authors talk of their years struggling, alone, with snow blowing from cracked windowpanes onto their keyboards, nobody else in the world understanding their turmoil, pounding away until bolts of genius strike and a perfectly-formed story springs into existence.

This image makes sense. I’m sure you’ve experienced frustration when you’ve been trying to get a piece finished. Or polished. Or even started. Writing can be hard. Challenging. Frustrating. Because writing can be so difficult – analogies to labour are common – the presumption arises that this is the way it is meant to be. And, without a countervailing voice, that presumption becomes the status quo. Beginning writers walk into this field of shared expectations, and believe that writing is going to be difficult, arduous and draining.

Read entire article HERE