• If you are tired of working for someone else and conforming to their way of doing things, then you may have considered starting your own business. Owning your own business can be one of the most rewarding experiences in a person’s life. If you’re short on funds and you would like to learn how to start a business with no money, there here are some tips:

    Consider opening a business reselling items

    You may have heard how people can make a living selling used items from their homes. People talk about these stories all the time for a reason: they are true and it’s easy to get started. Whether you decide to sell via online auctions like Ebay or through a free online marketplace like Etsy. You can start out selling useful items from your closets and basement, but once you start making money you can start purchasing more items to sell from thrift stores and yard sales.

    Utilize your creative side

    If you consider yourself to be somewhat creative, then you could come up with one or more products to make. You could choose to make and sell items that don’t cost much for the materials, such as lotion, soap, pot holders or anything else that you might have in mind. As long as the products that you make are of professional caliber, you will likely not have a problem selling them. You could also sell the items that you make online, on Ebay, Etsy and many other similar sites, as well.

    Sell your services

    Businesses and individuals are always looking to have services performed. If you’re not sure what services you could offer for sale, you should take the time to sit down and think about your possible skills. Are you a fairly good writer? Do you have any hands-on experience in graphic design? If you don’t have skills in either of those areas, there are numerous other possible services that you can offer. Here is a list of just some of the services you can offer for sell:

    . In-home child care – If your home is large enough, you might want to consider this choice. You can wait to become licensed if you only start out with a few children. Every state has different policies, however.
    . Web design – Individuals and start-up businesses are always searching for someone with experience to build new websites for them.
    . Errands – There are many older individuals or even busy professionals who need regular assistance with running errands and taking care of other business matters.
    . Tutoring – There are many local as well as online opportunities to tutor students on various subjects. There is even the opportunity to teach English to those from other countries, and no degree is necessary.

    As you can see, starting a business with little to no money is definitely a possibility. If you’re willing to be a bit creative and start out with a business that you may have never considered doing before, then you can become successful in your endeavors.

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  • Many people are looking for ways to generate more income and experience greater freedom from work. Becoming self employed is easier for some than others. But, you can learn how to start a new business, by considering a few helpful tips.

    Know What You Want to Do

    Knowing what you want to do for a new business is the first step. Creating a mission statement and a vision will help you formulate a coherent business plan, even if you don’t need to seek financing to get started. A business plan should include the mission and this should be the focus of all activities related to start up and promotions.

    Understand What People Want

    entrepreneur-593361_640You may have the desire to offer business consulting services. However, by focusing on a niche, your skills become even more refined and you can stay focused on one or two key ways of helping the companies you work with. Rather than simply offering business consulting, you could provide new hire training consulting, recruiting and hiring consulting for HR staff, or diplomacy and sensitivity consulting for managers. It won’t hurt to be specific. Companies these days look to get the most for their money.

    When you become an ‘expert’ in one or two key areas of business, they are more likely to pay your fees for services provided. They are also more likely to keep you in mind for referrals. Think about past projects and successes. Consider the skills you used most to achieve those goals, then focus on defining the consulting process you will offer to clients. This will also make it easier to market your services. You will be able to develop a clear mission statement and specifically list the areas of consultancy you plan to offer.

    Serving niche markets of products or services in high demand will help you earn more and develop a reputation among business circles you work in.

    Create Cash Flow

    Create cash flow for business expenses, even if start up costs are minimal. You may need to add hardware or software down the road, when you begin building up clientele or customers. You may need to pay for expensive transportation repairs or related costs. To ensure you can meet deadlines and the expectations of those you serve, ask for deposits up front and bill clients for the remainder of your fees. If your car breaks down, for example, you can at least use the deposits for alternative transportation while your vehicle is being repaired. Asking for a deposit shows you take your services and expertise seriously. It also prevents clients from taking too long to pay. If they know you expect some form of payment up front, they are more likely to be conscientious about timely payment of the balance.

    Always Look for Ways to Cut Costs

    Cutting costs is not something to think about once in a while. It can be a continuous process. As you develop a rhythm for working and communicating with clients, you will learn how to manage time more efficiently.

    If you are not completely satisfied with a supplier or costs of supplies, search for new resources on a weekly basis. While you may not find something cheaper right away, you will likely come across better deals down the road, as long as you’re looking for them. Consider hiring someone for tasks you’re weak in or don’t have time for. In the long run, taking on a part time employee may save money.

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  • shanghai-456761_640Successful businesses streamline processes wherever possible to cut costs and reduce errors. One significant tool available to business owners is outsourcing. When a company hires a third party to handle any part of its operations rather than maintaining staff on the payroll to fulfill that task, the job has been outsourced. An example is business process outsourcing (BPO).

    Domestic or International

    Three types of BPO are “onshore,” “near-shore,” and “off-shore.” These terms refer to the location of a third party service provider. “Onshore” business process outsourcing services are achieved in the same country as the client originates from. If that country is a neighbor (a Canadian service provider to an American firm, for instance), that is an example of “near-shore” BPO. “Off-shore” services are accomplished in a country further away. Many industries in the United States and Canada now outsource customer service to call centers in India and the Philippines, for instance.

    Services Provided

    A general overview of tasks provided by third-party firms is divided into two categories: internal and front-office. Internal tasks include jobs that take place behind the scenes such as accounting. Customer service activities qualify as front-office support.

    Internal Services

    Companies in every industry maintain financial records, budgets, manage debt, and must be audited regularly. Service providers supply professionals to manage accounting, including account reconciliation as required.

    Managing Money

    When official paperwork must be found, organized, and filed at tax time, accountants handle recording and reporting. If there are discrepancies between recorded figures and stock or payroll numbers, an audit might be called for.

    The client might only require temporary business process outsourcing; perhaps when an audit is ordered or during the busy tax season. In other cases, jobs such as payroll management are undertaken year-round by a third-party company.

    Front-Office BPO

    Major firms hire call centers to handle customer service. Representatives are not employed directly by the firm that hires them but they are trained to understand the general needs of clients calling to complain or look for assistance with a product. Such products include retail items and insurance policies. Another tool provided by BPO companies is Customer Outreach. Rather than waiting for customers to call looking for support, third-party customer service personnel are paid to reach out to clients with updates about their recent purchase, to offer assistance, and to solidify relationships. This action is money well-spent, breeding loyalty and trust among patrons.

    Business Intelligence

    One BPO service involves learning about the trends and openings in a given industry using research and analytical skills. Professionals reach conclusions based on the data they collect then provide predictions and suggestions to their clients. The goal is to remain current; aware of shifts in a given field so that clients keep up with change so as to maintain their customer base.

    Order-to-Cash Process

    An opportunity exists to build relationships with customers from the time they place an order to the post-delivery period. This relationship is sometimes uncomfortable, especially if complaints are lodged, but also when a client fails to pay his bills and debt collection is required. BPO services include billing, collecting money, and bad debt management.

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