5 Steps for employee to get started in Business Part 5:
Being an agent for a special service or products
Being an agent for a special service or products also a good idea to get started. We must thanks to our technology. More and more products and services appear on the market and everyone of them do have their own special features to let us make money. The point is whether it is suitable for us. So if you intend to start an agent business, then you must do some homeworks and researches. Below is some of the point that you can refer when doing your research:
- If possible, don’t be an agent for those company that on the market for a long time. This is because the markets for its products or services are mature and the profit also become lower.
- Choose a company that has its own system in products production, quality control, after sales service and supports.
- Choose a products or services that have unique features. Some of the products are good but easy to copy. Once the market is opened, other company can easily copy the idea of your products and take over your market. In this way, your profit margin will be dropped too.
- Dealing directly with factory or company. Don’t deal with those agencies except this is a demand of factory or company. First this can protect your profit margin, second if anything happen or you need support, consult factory or production company is much more better than those agencies.
Anyway, no matter what business you start, you must do your research first. Don’t rush. Rushing is just like over speed driving on the road, it is very dangerous!
5 Steps for employee to get started in Business, Ways To Be Wealthy
5 Steps for employee to get started in Business Part 4:
Where is Your Market?
　 　
Knowing where your market is is very important in your business planning. My advice is don’t start your business without knowing which market you want to attack.
Sometimes I feel that running a business is just like fighting in the war. And market is the winning factors in this war. So if you start your business without knowing where is your market, then high possibility you will lose in this business war.
Let me give you some examples. My cousin is a photographer. Maybe because of some unhappy cases happened, he designed to resign and start his own bridal shop(Last time he was a photographer for a bridal shop). He chose his shop, bought his stocks, hired some sales girls and run this business with a lot of passions. However, after 6 months, he closed his shop and decided to work as photographer again. Why? From what I observed, there are several points he fail in this business:
- He don’t know his market
- He can’t start a effective marketing and promotion plan because he don’t know his market
- His shop had its own expenses which he had to pay on time even though his business is low in sales.
Once you start your business, there are a lot of expenses will appear at the end of the month. However, if you don’t know your market, then income for your business will be having some problems. Even you make a lot of promotions and marketing, however, chances that you fail is still high. Nowadays customers are overwhelmed with all the promotions, flyers, advertisement and etc. So as small business owners, we must do something special to stand out the crowd. In my post Business & Income : Simple Steps to Start Business I share the point of finding niche market before starting your business. Know your niche market, make a special marketing plan to attack this market and finally sit back and wait for the money to flow to you. J
5 Steps for employee to get started in Business, Ways To Be Wealthy
5 Steps for employee to get started in Business Part 3:
Your Partner
Find your partner to help you in business. This is one of the best options that you can consider if you don’t have enough time to run your own business. Just get a partner who you can trust and let him helps you to run the business. Maybe you just invest some money, or provide your expertise and experience in your business and share the profit with your partners.
There are several things you must pay attention when dealing in partnership business: works, right or power and profit sharing. Before you start your business with your partner, you must discuss with your partner clearly about :
- Each responsible in business,
- Agree with the power or right to make decision for the business,
- How you 2 going to share the profit?
If possible please make a black and white agreement with above agreement. So if any arguments happen in future, there will be a contract or witness to protect each others.
Before this I saw a couple of friends just start a partnership business. Initially they are working well with each other. However, when the business starts making money, argument happened and finally the business had to be closed down. So my advice is, it is great to have an agreement to protect you and your partner to prevent any unhappy ending.
5 Steps for employee to get started in Business, Ways To Be Wealthy
5 Steps for employee to get started in Business Part 2:
Fully Use of Your Network
Network, one of the benefits for employee. If you work in the market for many years, you will have a network of friend, customers or other relationship with others. In business, network is one of the main element that determine how success you are. If you start your business with a group of network on your hands, you will have a lot of benefits that others don’t have.
Before this I heard a story from my friend. His friend, Jack, start a computer graphic design business and become one of the biggest graphic design company in local market. Before this he involved in many publishing and media company such as newspaper, magazine, TV station, advertising firm and etc. From there, he built his networks that consist of those companies which involve in graphic design. When the time is mature, Jack resigned his job and started his own graphic design business. Without any hard works, his company becomes one of the top graphic design companies in local.
Anyway, there are certain points you need to pay attention. You must take care of the ethic factors. When you are building your network, please don’t do anything that will hurt the business of the company that you are working with. I knew there are certain people who will by pass their company and redirect the customers or businesses to their own business. I think this action is unethical and I don’t think this kind of people can stand on the market in long term. So Please be careful.
5 Steps for employee to get started in Business, Ways To Be Wealthy
5 Steps for employee to get started in Business Part 1:
Don’t take risk, Start a part time job
May I ask you a question, why people need a job? Because they need INCOME to survive. So if you want to start a business or do what ever you think that can bring you money, don’t take risk, start it part time!
Before this, I heard from my mentor that his friend wants to resign his job and focus on his business. However, his friend is having a lot of debt and family with 2 children. My mentor advice him to start the business in part time. For the time being, just keep the job he has, so he can maintain his lifestyle since he has commitment to his family. Then at night or free time, just do whatever he want to run his business.
I agree with my mentor’s suggestion. Yes maybe you have an idea and you know you will make a million or more money from it. However, I think in this world every thing start and do need time to be success, am I right? So just start your idea part time. Even it is part time but you still can train your skill and gain experience. At the same time, you still have the income to survive.
Something you must remember!! When you run your business or idea part time, you must clear and hold your goal and stick to the plan. Don’t because you want a part time job or second incomes then only you start the part time business. It will be too sad if you forget your goal and work part time because NEED MORE MONEY!
5 Steps for employee to get started in Business, Ways To Be Wealthy