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10 Compelling Reasons Why You Should Learn How to Start a Small Business In 2010

Small business’s are spreading widely around the world and have now become extremely popular as the most wanted business’s to start for several reasons. Contemplate for a few minutes what it will be like to work from home and never worry about waiting in heavy traffic jams or to be at your boss’s beck and call. Maybe now is the time to learn how to start a small business. Wouldn’t that be tremendous? In today’s fast moving world, a bit of extra income doesn’t hurt, that allows the regular person to get ahead in life so they can enjoy the little extra’s life provides that their existing job doesn’t enable them to do.

I am very aware from my own experience as that is what made me take the action required for me to enjoy the type of life I wanted to live and also to be able to provide for my family. But, the thing that usually comes up is people must be encouraged by something or pushed just to do something. Well, the reason for the next few paragraphs be to do exactly that, inspire you to do something. I’m going to cover with you the 10 best reasons why you should learn “how to start a small business” and the benefits behind each of them. I promise once you study them you’ll recognize that your own ‘Small Business’ might be worthwhile considering. Having said that, let’s go to reason #1.

1. Work for yourself.

Have you ever dreamed of being your own Boss? Well learning “how to start a small business” is a step in the right direction and what’s really outstanding is, you’ll never have to follow anyone else’s screaming orders, just your own.

2. Freedom to do what you want, when you want.

By being your own boss and with the ability to plan your own work hours, you now have the freedom to enjoy what you want, when you want to and with whom you wish at anytime. How about that for a great reason to get started right away. It’s liberating to be in control of your own life and do what you dream about when you want to.

3. Work when you choose to..

This is probably one of the best reasons in my opinion for learning “how to start a small business” just because you get to set your schedule for what hours you wish to work. This is particularly beneficial for stay at home mums or dads who have children to tend to and require some versatility in their work schedules.

4. Job security worries are a thing of the past.

By having you own “Small Home Business” you never have to concern yourself with receiving a “pink slip” from your boss or a “SORRY”, but the company has to reduce its employee numbers and you happen to be among the one’s who have to go.

5. It doesn’t put pressure on your existing job.

You better believe it, you don’t have to quit your current job in order to get started. You can start on a part- time basis until you’re in a position to replace your current income by using the income you generate from your new small business. Remember, you are able to to set your own working hours for when you wish to work on your business.

6. It builds a “feel good factor”.

Wouldn’t it be great to be able to tell all your pals and relatives or just anybody you meet that you’re an entrepreneur and you now run and manage your own flourishing ‘Small Business’. Pride can also work as a motivator. The more successful a person gets the harder they’ll want to work just to achieve the further goals they will have set for the business.

7. Cash is a powerful motivator.

Cold hard cash is a pretty understandable reason for running a ‘Small Home Business’ because why would you otherwise start an enterprise if you weren’t planning on making any MONEY. It also builds a feeling of security for your standard of living and the things you enjoy doing because the facts are… nothing is free of charge. Everything has a price.

8. You can take advantage of Tax breaks.

You heard right, you receive Tax benefits with running your own “Small Business” because now you’re eligible for your small business tax deductions. This is a category in it’s own and getting a good accountant who has knowledge of home business tax returns will be important in order for you to get the maximum return for the year.

9. You will get a confidence boost.

By setting up and starting your own business venture you will become a more confident person since it takes confidence to start something when you have no idea what the outcome will be as well as the what risks are involved, whether or not they are financial or personal.

10. The business could become your retirement package.

If the business turns out to be a SUCCESS and you invest wisely and put your hard earned dollars to work for you, wouldn’t it be great to retire early and do the things you’ve always dreamed of doing, but never had the time or money to do so. There you have it, “10 Compelling Reasons Why You Should Learn How to Start a Small Business… In 2010″

Now, if those 10 reasons don’t get you excited about starting a new “Small Home Business” then I haven’t got you fired up enough and you might need to study them again. If that is the case I suggest you do so now. I was once where you are now and those were the reasons that got me and many other people I know hooked on finding out “How To Start a Small Business”.

Take a paper and pencil and jot down why you’d most likely want to learn “How to Start a Small Business”, I”m sure you will match a number of the reasons above with me. Having said that, there’s a further thing I would like to mention and that is if you’re seriously talking to friends and family about how to start a small business, whether it be on the internet or high street, ensure you put together a “Step-By-Step” business plan with all the actions you will need to take and you should definitely start with a business you will enjoy running.

Sell a Business and Retire

It would likely be a safe statement to state that most small and medium-sized businesses in Canada are owned by the baby boomer generation. As the years move on, a large number of the business owners will be looking to retire. Selling a business remains a vital resource for retirement for many boomers so it is important to start planning early on how to achieve the most value for a business. This article will examine some aspects of selling a business in order to facilitate a retirement.

Start early
Too often, people do not plan 12 to 24 months in advance of listing their business for sale. It is, however, that this level of planning occur. Too often, business owners simply call up a business broker and expect that it will be simple to find a buyer. The reality is that it may take up to 2 years to get your business ready for a sale then an additional year to find a buyer for it and close the transaction. Prepare yourself for this potential timeline.

Try to improve business results
This obviously may seem easier said than done but it is an important point. Most buyers of existing businesses are not as risk averse as people willing to try a start-up venture. People looking to buy an existing business are looking for an existing stream of cash flow, steady operations, a history of success and reasonable assurances of future success. Because of this, it is difficult to sell a business where the results are in decline. Show buyers that things are on the upswing and that they need to continue with the trend.

If you can try to attract a few more customers or build some efficiencies into the business in order to show annual improvement, this would be helpful.

Talk to professionals
Consult with a professional accountant or tax advisor to determine a company structure that can maximize your value when you sell. You must also have professionally prepared financial statements ready for the sale. Consult with a business broker to determine business selling process and what you can expect. You may also want to meet with a business valuator to determine if a formal valuation is required (in most cases, a business broker can also assist you with this).

Make a transition easier for the new buyer
Pretend that you are buyer with little or minimal experience in the industry. Try to set things up so that it will be easier to transition the business. Have a depth of trained staff and properly documented operating procedures.

Prepare yourself
If you have spent years building a business you must be personally ready for the sale of it. Seller’s remorse is a very real thing that happens more often than people realize. It is one thing to state that you are ready to sell your business but when the time comes to truly let go, many people get cold feet. Take an honest personal assessment to determine if you really are ready. Selling a business is a tremendous amount of work so you want be to sure if it is the right decision for you.

Tips For Buying Businesses For Sale

Having a business of our own not only fetches all the profits raised through it but also gives us all the powers to run the business according to our own rules and regulations, so always consider buying the businesses for sale. A person in a job not only works under pressure of deadlines but also the fear of bosses that they may punish you in case you commit a mistake. Also in jobs, one gets only a portion of the total income generated through his own work. Running your own business makes you the boss, though you still need to work on set priorities and deliver the work by deadline, you need not to answer to anyone apart from your clients and customers. In business, you take all the money generated through your work rather than only getting a portion of it.

In today’s scenario, countries are facing economic crisis affecting the world economy, so it is a better idea to purchase businesses for sale from various vendors, as it not only takes too much of capital requirement but also takes years to properly establish a whole new business from scratch. With already established businesses it becomes easier to start earning higher profits rather than earn on small opportunities which is mostly the case with newly started businesses.

Before you consider buying businesses for sale, do proper home work. Research all the options available to you as it’s a big decision and even one small mistake may cause you big money. Many people before purchasing the businesses for sale doubt the credibility of the seller and often question as to why the seller wants to sell the business if it is for fetching a handsome amount of money, then it may indicate the business is having financial profitability issues. There may be many reasons why entrepreneurs decide to list businesses for sale. One could be the lack of heir to continue the business further, another may be the owner wants to retire, or maybe they are moving, etc. The reason could be anything, whether it is financial or otherwise, it should not let the prospective buyer debar from purchasing it only because of a doubt. It is advisable to correctly know the genuine reason behind a seller listing businesses for sale. It’s also advisable to have the business for sale appraised and make the final decision after getting an appraisal on the business for sale.

Buying a business can turn out to be a turning point of your life. You just need to follow the right path and emerge as a successful businessman taking care of all the necessary business dealings to stay on track and continue researching while executing the right business plan.