Small Business Opportunities

a) Connect to an Internet Service Provider. This will be your link between you and the Web.

b) You must choose your own domain name or address. Domains end in .com or .net for most business applications. Find out what's available. To find out what's available and if you can use the name you want, check with www.networksolutions.com or www.register.com. If the domain name you want to use hasn't been taken, you can register it for $70 for a period of two years. If you don't want to pay to register your name, your Internet Service Provider can assign you a name under their domain.

c) You must maintain your site and it could be costly. You can also use a "host" to maintain your site. You'll find these hosts through any Web search engines such as Excite or Yahoo!. The Web host will offer graphics and fonts needed to create your web page. Going this route eliminates the need to register and obtain a domain name as the host will do it for you.

d) If you choose to design your own site, look into the many software programs available such as Adobe PageMill and products from Corel.

e) You need to find a server--a computer that will make your site available to the Internet. You can have a Web hosting service do this.

f) You'll pay around $30 a month to keep your site up and operational with adequate space.

g) Keep updating your site to make sure customers keep coming back.

2. Buy A Business Or Franchise

Want to be in business for yourself, but don't necessarily want to go through all of the hassles of putting together all of the nitty-gritty required to start your own business? Then consider purchasing a proven system of doing business: a franchise operation. There are more than 5000 different types of franchises doing business in the United States today.

Many of these franchises are represented by the trade group, The International Franchise Association (IFA). The IFA publishes an annual directory of its members and the book outlines startup costs, total investments, training programs and will even tell you what the franchisors are looking for in the way of qualifications.

The book --it's approximately $15--can be ordered from the IFA, by writing to IFA, 1350 New York Avenue, NW, Suite 900, Washington, DC 20005-4709. You can also call them at 202-628-8000 or send a fax to: 202-628-0812. Log onto their website at www.franchise.org for plenty of great information on starting your own business by buying a franchise.

The IFA annual guide also includes a wealth of information in the upfront section. The section on the advantages and challenges of running a franchise is particularly interesting to potential franchisees.

Business opportunities differ greatly from franchise operations. A franchise is a proven system of doing business and with it comes a package of logos that must be used, uniforms that the staff must wear, letterhead, accounting systems and other rules and regulations that must be strictly adhered to by the franchisee who bought the franchise operation. Royalties must also be paid to the franchisor. Some franchise rights expire after a period of years.

With a business opportunity, you are purchasing a "package" called a "turnkey operation." This term means that there is nothing else to do. You simply "turn the key" and start your business. With a business opportunity, you are buying the tools, the how-to manual and the know-how of the company selling the package. You might not get any follow-up support, telephone counseling or other type of assistance once you start your business.

You may use any name you like with a business opportunity. This is not possible when you purchase a franchise. Visit our Small Business Opportunities website at sbomag.com for more information on buying a franchise or a business opportunity.

3. Do It Better, Cheaper, Faster

You don't have to have a completely original idea or even a unique concept to start your own business and make a million dollars this year. All you need to do is to survey your community or your marketplace (it could an online "virtual marketplace") and find a business that is very successful. Try to not only duplicate their success, but better it, by conducting your venture in a manner that is: Better, Cheaper, Faster.

Take a walk through your neighborhood. What businesses are doing well? Do they have a lot of competition? Even if they do, could your community handle another enterprise in this industry? It could, if it were presented in a new manner that the customer saw as Better, Cheaper and Faster.

Many entrepreneurs who start their own businesses, don't reinvent the wheel. They just present a business service or product in a more efficient and economical fashion. Consumers are looking to save time and money and will flock to a business that provides these added bonuses. The days of customer loyalty are being phased out as new business startups provide the same products and services in a refreshingly new manner.

Examine successful businesses in your neighborhood and vow to conduct a similar business in an exciting new way. For example, if there is a delivery/errand service in your area, could you spiff it up by wearing a snappy uniform? If there is a florist in your neighborhood, but they don't provide a gift basket service, ask them if you can offer this service under their auspices. You'll run your gift basket shop from their location and give them a small percentage of your earnings.

There are hundreds of ways to capitalize on existing opportunities in your own community. Take a walk and find them.

4. Attend A Trade Show & Come Home With $$$$

We know of many, many entrepreneurs who "work" a few days a year by attending trade shows. They come home with tens of thousands of dollars in orders from each one.

They set up a booth selling their wares to buyers eager to find new merchandise and products. The buyers line up, examine a prototype or the real product, and write a check for an order that could total "ten units" or ten thousand.

Entrepreneurs go home, deposit the checks and often use the money taken in at the trade shows to fuel their new venture. They hire part-time workers, assemble the goods and ship them out to the buyers. Once satisfied, the buyers come back and purchase more products. It can be a wonderful cycle to get on and enjoy all the way to the bank.

This concept has worked for some very well-known entrepreneurs. Consider the case of costume jewelry designer, Carolee. Carolee was involved in a sad situation of divorce and sat up one night stringing little beads with her kids. The next day several of her friends saw them and recommended that she sell them to stores.

On a wild gamble, she called Bloomingdale's department store in New York City and asked if there was a day when buyers looked at new merchandise to possibly include in their showcase at the 59th street store location. They told her to come in later that week.

When she arrived, Carolee showed her necklaces and bracelets and within a few minutes the buyer announced, "We'll take them!" The buyer also told Carolee that she'd need dozens within the next week. Carolee told them, "But I don't have a business??!!" The buyer said, "Well, you do now!!"

Carolee went back home to Connecticut and hired her neighbors to help her put the goods together. She completed the order and the rest is history. Her jewelry business is a multi-million dollar empire today. While Carolee didn't attend a trade show to start the business, she subsequently sold to many other stores by attending trade shows.

There are many entrepreneurs who have made a prototype and sold it big at a trade show.
We know of a novelty designer who wrote up $14,000 of orders at a New York Gift Show. He went home to Albany, New York and hired students from a local college to help him assemble his novelty briefcases. He made $14,000 in one day at a trade show.

Call your local convention centers and see what types of trade shows they have coming up. The company Gale Group of Farmington, Michigan publishes the Trade Show & Professional Exhibits Directory. Visit their website at www.galegroup.com or write to their headquarters: 27500 Drake Road, Farmington, Michigan, 48331.

You should also call the Chambers of Commerce in cities you are interested in visiting and see if they have any major conventions or trade shows planned. Another source of information are associations. If you are interested in child care, contact the National Association of Child Care Professionals in Christianburg, Virginia at 800-537-1118 or 540-382-5819 and see if they have any conventions planned. Likewise, contact the National Association of Professional Pet Sitters in Washington, DC at 202-393-3317 or visit their website at www.petsitters.org to investigate trade shows in the pet area.

Use the Internet as a great tool to find what you want. Part of The New Economy is accessibility. Make it work for you.

5. Do What You Love & The Money Will Follow

What separates entrepreneurs from the dreamer is this: entrepreneurs are not only dreamers, but they are schemers, too. They know how to dream and then put their vision into action. Many say the dream is a dime a dozen, but the execution is priceless.

If you have an idea, a dream, a vision of how you would like your life to be, figure out how to execute your dream.

If you do what you love, the money will follow. So many people say this, but can it really be true? It can be. The logic--and there is logic in dreaming--does make sense. If you love what you do, you will love thinking about it, conceptualizing about it, working on it, and in short, you will love succeeding at it. If you love what you do, you will gladly work 18 hours a day rather than work 8 hours a day doing what you don't want to do.

There are many ways to achieve goals and dreams. If you don't know the field you are interested in pursuing, learn about it. Take a class, get a job in the field, become an apprentice or become an intern. Take a part-time job in the industry you hope to master.

If it is a new field, do all of the research you can on how to make your dream come true. If you are interested in making something, read about how to construct a prototype and find a manufacturer.

One of the rules of The New Economy is that anyone can have a shot, a chance, take the opportunity presented to them. It is important to not let anyone step on your dream, too. Don't listen to naysaying colleagues, friends and family members who might try and squash or ridicule your passion. If you love what you do, figure out how to get paid to do it and follow your dream.

If you love the great outdoors, figure out how to work outside. If you have a vision of yourself as a performer, write a monologue and get yourself to a local comedy club. If you want to act, visit film schools and offer your services for free. If you have an invention, perfect it and find a way to mass produce it. If you want to start a business in a field you love, don't let anyone stop you.

If you want to record a CD of your own music and sell it online, do it. Just 12 years ago it would have cost tens of thousands of dollars to record a CD and sell 500 copies. Now, thanks to digital technology, you can do it on your own.

6. Investment Options & Online Trading

There has been a lot of publicity lately given to investing, personal finance, online trading and making money via the stock market in general. There have never been more options to help you get started in making a fortune in the market. Even casual observers of Wall Street are stepping into the fray. Some have great results and others are devastated. This is a case of caveat emptor--let the buyer beware.

If you think you have a knack for picking great investments and if you think you'd like to try your hand at the market, don't quit your job and start day trading. Pick a portfolio of stocks and using imaginary funds track it and see how you do. How would you trade the stock? What would you buy on a given day? Would you make money if you sold it the next day? Follow your imaginary portfolio closely and record the outcome on a daily, weekly and monthly basis.

If you think you are on to something, start slowly with some discretionary funds. No one wants to bet the house on the stock market, no matter how savvy you think you might be.

There are many ways to invest today. Peruse these websites for information on how to start buying and selling stocks online. Remember, there is a per transaction fee and unless you have an account valued at $100,000 (!), the online brokers won't let you in on the hot Initial Public Stock offerings. You'll find the lines jammed and you won't be able to place hot trades, but you can get started and possibly make a mint in the process. Visit the following for information:

www.accutrade.com
www.americanexpress.com/direct
www.schwab.com
www.discoverbrokerage.com
www.dljdirect.com
www.etrade.com
www.fidelity.com
www.quickwaynet.com

For business news, we recommend the following websites:

www.abcnews.go.com/sections/business
www.bloomberg.com
www.cbs.marketwatch.com
www.cnbc.com
www.cnnfn.com
www.forbes.com
www.ft.com
www.washingtonpost.com

For financial advice and the latest buzz, investor education and market data, check out:

www.fool.com
www.ragingbull.com
www.techstocks.com
http://quote.yahoo.com

You'll want to steer clear of online investment scams, so follow these four tips:

a) Make sure the investment you are looking at is registered. Check with the Security and Exchange Commission by visiting their database at www.sec.gov/consumer/edgarhow.htm). Also call the North American Securities Administrators Association (NASAA) by dialing 202-737-0900 or visit their website: www.nasaa.org.

b) Make sure that the person selling the stock is not a criminal. You can find out through the National Association of Securities Dealers Regulation's public disclosure hotline: 800-289-9999. Visit their website at www.nasdr.com/2000.htm and be wary as the seller might try using several false names.

c) Remember the old line, if it sounds too good to be true, it probably is. Use your good judgment and listen to your instincts.

d)Don't be bamboozled by fast talking sellers, websites, magazine articles, advertisements, colleagues or investor chat boards. Don't believe everything you hear or read on the Internet. Use good common sense.

7. Empty Your Attic! Cash In On Collectibles!

We all know the story of the fellow who bought a framed print at a garage sale because he liked the frame. When he removed the print to frame a new poster, he discovered that behind the print was one of the remaining copies of the Declaration of Independence. His garage sale find is a priceless collectible.

There is a virtual feeding frenzy taking place for collectible items. Auctions, collectibles fairs, expos and websites catering to oldies-but-goldies and kitsch have really taken off. Of course, there is nothing wrong with collecting vintage Rolex watches, either, but the new collectible phenomenon makes even Beanie Babies desirable goods to collect and sell.

Everyone knows the excitement eBay has generated. With just a few clicks, you can participate in the wheeling-dealing and make some nice cash. There are plenty of entrepreneurs out there who started selling their wares on eBay on a part-time basis and have since quit their jobs to devote themselves to their collectibles empires on a full-time basis.

You can do it, too. All you need is to be online, set up an account with eBay or another auction house, have a camera, a scanner (photos are good ways to sell your items as a picture is worth one thousand words), and you are ready to roll.

Online auctions are now a $2.3 billion industry. It is estimated that eBay hosts anywhere from 2.5 million to 3.4 million auctions a day in 2500 categories. To get in on the eBay action, go to www.ebay.com. Register and starting listing your items. You'll pay fifty cents an item to list it and pay a commission of 5% of the first $25, and 2.5% of the value up to $1000 to eBay once your item is sold. A commission of 1.25% is paid to eBay for items that sell for more than $1000.

Also, check out swap.com of Pasadena, California. The fee is about 77 cents per trade. You might also want to look into webswap.com of Palo Alto, California, too. Also, search the Web for other auction sites that interest you. There are plenty and many are specific to art, cars, music and Hollywood memorabilia, sports collectibles, etc.

There are a lot of buying and selling hints and much has been written on the topic. Visit your local bookstore or shop at Amazon.com to read some books on how to buy and sell on the Web.

There are different rules and regulations you'll want to know. For example, does the auction site has an "escrow policy" whereby the auction house holds the money until the buyer is satisfied with the item received? Is there a "proxy system" meaning that if you are bidding on an item, you will be notified immediately when someone tops your bid by a few dollars. In fact, with eBay, the auction house will automatically top the last bid on your behalf. You tell them how high to go.

You can negotiate who will pay the shipping costs. Each site handles this protection issue in a different manner so study the rules and regulations to prevent hardship. When you visit the auction websites, you'll learn more about their specific services to buyers and sellers. You'll also find a Feedback Forum where you can actually read about different buyers and sellers and their track records.

In addition to eBay, check out:

www.adventurebid.com
www.auction.newline.com
www.auctionrover.com
www.bid.com
www.skyauction.com
www.sportsauction.com
www.up4sale.com

8. Market Your Million-Dollar Invention

In The New Economy your customers can come and find you from all over the globe thanks to the Internet. You don't need to negotiate with shop owners or store buyers, because you don't need them. You can sell your products and inventions online.

We know you are probably always thinking of inventions: new kitchen gadgets, tools for the garden, timesavers for your home office and many other gizmos and gadgets. With a worldwide marketplace at your fingertips, you can actually make this invention magic happen.

Don't let your friends dismiss your idea as too wacky or not salable. Remember, Tomima Edmark? Well, she invented the Topsy Tail, a hairstyling tool that enables one to turn a basic ponytail inside out to create wildly exciting and original hairstyles. She has made more than $100 million on her little wacky invention through mail order, a direct response television commercial, retail sales and licensing deals.

Contact the Federal Trade Commission (202-326-2502) and the U.S. Patent Office in Washington, DC for information on trademarks, patents and other forms of protection for your idea. It is a lengthy process, but worth knowing. Many inventors decide to skip the formalities and if they are assured their idea is a legal one to sell, they go forward without a patent and just hope they can cash in quickly before others copy their idea and steal their item. Designers face this dilemma all the time. For example, say Christian Dior manufactures sunglass frames. Within days, another party can copy the eyeglass frame and have them manufactured in Taiwan and shipped to the U.S. within days for sale on the street as legitimate Christian Dior eyeglass frames.

Once you have an idea, you can investigate patents and trademarks. You can also build a prototype. You can make it yourself or go to a professional model maker or engineering firm that can help you build a prototype. You can have them sign a "confidentiality agreement" and they are familiar with the concept. They don't want to steal your idea; they want you to go ahead and manufacture it on your own and give them the account making and mass-producing your item.

Visit your local office of the U.S. Small Business Administration for legal assistance on invention matters. Ask them about their development programs and if they can assign you a counselor from their SCORE program (Senior Corps of Retired Executives/800-634-0245). Ask the SBA about prototype designers in your area.

There are inventors associations in each state. Contact The United Inventor's Association of the United States of America, 4850 Galley Road, Suite 209, Colorado Springs, CO 80915. Make sure you check out the credentials of anyone you will be dealing with. Check references and referrals from other inventors.

If you'd like to read some books about inventors and the information they'd like to impart to you, consider the following:

The Toy & Game Inventor's Guide by Gregory J. Battersby and Charles W. Grimes. This book is published by Kent Press, P.O. Box 1169, Stamford, CT 06904-1169. The phone number is: 203-358-0848.

Inventing Made Easy by Tom and Roger Bellavance. Published by Quiet Corner Press of 318 Sterling Hill Road, Moosup, CT 06354-2034, the book is a guide to getting your invention out there. The phone number of the publisher is 860-564-4524 and the book costs $24.95. The authors are both members of the Inventors Association of New England and have spent thousands of hours of research and offer their expertise based on more than two decades in the business of inventing.

You can license your invention once you get it together after you read the Nolo Press guide, License Your Invention by Attorney Richard Stim. It's $39.95 and comes with a disk to help you work through all the components. A license is an agreement that permits someone else to use or sell your invention for a limited period of time. In return you receive a one-time payment or continuing payments called royalties. Visit the Nolo Press website at nolopress.com for more exciting books from this fab company.

9. Start A 21st Century Biz

Survey the marketplace and you will be inspired to develop business ideas that meet the needs of the public today. What do people want, need and require in this hectic time? They need more time and convenience. You can start a business catering to these very important needs. The possibilities are limited only by your imagination.

People love gardens but don't have time to dig, plant, cultivate or even learn about the wide variety of plant options available to them. Shrubs, topiary, ornamental landscaping, water gardens, perennial drifts, container gardening, xeriscaping, younameit. Do you have a green thumb? Consider starting your own gardening business. Specialize on one gardening aspect or do it all.

It seems that working parents have little time to get errands accomplished. You can start
your own errand service and/or delivery business to capitalize on this trend. You can pick up items for them, do shopping trips, deliver goods that stores won't handle, become a driver for the elderly or young kids who need to get to soccer practice, etc. Look at your community and see how to make life easier for the residents. If you build it, they will come.

If you have a knack for building or remodeling, this could be a great time to launch your own business. It seems there are never enough builders or handymen to go around when the spring season hits. Restore homes, build decks, specialize in shed building, offer home remodeling services to first-time homeowners who are overwhelmed. Circulate your fliers and get on the good side of realtors, mortgage brokers and real estate attorneys who will be in a position to refer you to clients. Make sure you are licensed and insured. Place an ad in your weekly paper and don't forget to hook up the answering machine.

Do you enjoy cooking? Eating, fine dining, beach outings, picnic fair, backyard barbecues and quiet dinner parties are enjoyed by all but no one has the time or the energy to do the cooking and handle all of the many details that go into the realm of the personal chef. Start your own business renting yourself out for special events, quiet dinners, beach parties. Specialize or generalize. Develop several menus from which your clients will choose and they will love you for it. Charge by the person or by the hour. What does the competition do? How do they charge? Find out and do it better, cheaper, faster.

The elderly need help. Drives to the store or companionship for a walk in the park. Shopping trips, hauling, carrying, carting, cleaning, light meal preparation. You don't have to be a nurse or a health aid to start your own business where the elderly are concerned. Many can't drive but would love a trip to the mall. You can be the driver who carts them to the movie theater or the shopping center.

If you are savvy with computers and know a thing or two about the Internet, consider starting a business as an e-Commerce consultant. You can develop a 21st century business helping people get online or even help them start their own business with a website. You will be their consultant and will help them through every phase of the operation.

Look at your community and find the needs. Figure out a way to fill these needs and you will find the perfect niche for your new business venture. Some other 21st century businesses to consider include: children's party planner, handyman agent, kid's transportation service, window washer, language teacher, music teacher, custom furniture maker, pet sitter, reunion planner and anything else in your community that you identify as a 21st century need.

10. Join The Net Affiliation Biz

If you spend time online, you are already familiar with "net affiliations." This is when you are perusing a website and then pop to another website thanks to a link. When you launch a website and provide a wide variety of links to other websites, you can make a considerable amount of money because the website link kicks you a commission if your website visitor goes to their site and purchases something.

Affiliation programs are becoming common among some of the larger Internet companies. They are actively seeking out websites that want to set up these affiliations. You can go right to Amazon's website (amazon.com) and click on a button that explains its affiliation program.

The company posts all the information you need to get started selling books to your customers. You can add an Amazon link to your website with a few clicks. Then, when your customers buy books, Amazon does the tough part of putting them in a package and sending them out. You receive 5% of all sales that come from your link to Amazon, including books, DVDs, CDs, videos, toys and more.

If you choose to feature a book and actually recommend it on your website, the percentage jumps to 15% if they buy it. In its posted information, Amazon also provides links to current affiliates so you can see how the link and featured books appear on a website.

Amazon.com is one of the more aggressive vendors offering affiliation agreements, many other online retailers offer similar programs. A word of warning: make sure you have a lot of confidence in the vendor and that they will, infact, send the book or product to your website visitor. Otherwise, your website visitor will blame you for the mixup.

With your website, you are "selling" all different types of items without stocking inventory, taking orders or even shipping anything out. Pretty neat! All you do is sit back and wait for your commission checks which the big companies like Amazon, calculate for you.

You can also visit a large portal like Yahoo! and find out about the details of their program at www.yahoo.com. Yahoo also offers very clear instructions on how the program works and how you can get started with your own network affiliation business.

If you want to develop a specialty store website--but not stock any items--you can do it all via network affiliations. There is a company that will help you. Affinia offers an unusual way to build your webstore (www.affinia.com). The company has a network of 1000 merchants that collectively produce 2 million products. You can create your very own "product line" by simply searching through this collection of products and goods and selecting what you want to "carry" in your store.

Say you want to create a "webstore for travelers." You can search through the collection of products on raingear, suitcases, portable umbrellas, folding hats, books, key chains, mini-locks for suitcases, small leather goods and so on and so forth. You are building a "click and mortar" retail operation.

Your customers will come to your website and click on things they want to buy. The beauty of Affinia's program is that there are no costs other than a "pay for performance charge." This means that you only pay a percentage of your sale. No rent. No fees of any kind. All of the products are delivered by the manufacturers. This means you don't have to invest in inventory or take care of fulfilling the orders and shipping the goods out to your website customers.

Remember it is still your responsibility to get customers to visit your website. Without a steady stream of customers, no one will be buying and without those sales there will be no monthly commission check. Affiliation agreements represent a big chunk of sales for Internet merchants. It's a fun way to make money even while you are sleeping!

Check these affiliate directories for more information on how to get started:

www.clickquick.com
www.sitecash.com
www.associateprograms.com
www.associate-it.com

See also:

www.befree.com
www.cj.com
www.linkshare.com
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