Most business people that sell a business will live on the proceeds and never improve their net worth. This is a huge mistake. Having a large amount of initial capital to invest with is probably the single biggest issue with most start-ups and traders alike. If you do have this opportunity then I’d recommend one of the following 4 techniques to make your money grow by between 10-50% a year! 10% of a 10 million dollar sell is 1 million a year. More than enough to live very well off! Below are the methods I recommend
Foreign exchange or forex as it is more commonly referred to, is the process of investing on the currency markets. An individual will trade either long or short on a particular currency pair, this will lead to either a net profit or a loss when they close the trade. The currency markets are the biggest in the world, with 5 trillion dollars traded daily. It’s easy to learn Foreign Exchange Trading Basics but it does take a while to become a full time trader…. Like anything though if you research and implement enough you will be successful.
Investing or stock trading is the most common type of post business selling technique that people utilise. It is also one of the easiest to make a small profit of between 10-20% a year on. Although when markets crash, most people also lose this money. This technique can work well for people who already have the understanding of the market or have specific stocks they like to trade on. If not start by researching the basics. I recommend a book called come into my trading room by Elder. It’s a good read to anyone looking to get started in the stock market.
Angel investing or being a VC is when you invest directly into start-up businesses with a longer term aim on making money for yourself. These businesses can go on to be snapchat, instagram and the ROI of your potential investment can skyrocket. But at the same time you might lose out on these and the businesses you do invest on might fail and go bankrupt leading to a reduced ROI and potentially losing all money invested. This is the highest risk strategy or investing.
If you want a more relaxed investing career, the single easiest method is to give you entire capital to an experienced financial advisor. These people will then go and make more money for you. You have the choice to either go on a risky, steady or medium risk investing strategy. And as the names suggest the higher the risk the more chance you will lose your money, but the more chance you will make a higher percentage each year. If you decide to go down this route I would actually recommend going very safe and looking for a 5-7% a year profit. If you can do this, with fees of 1% from an advisor you will be looking at about 5% a year. On 10 million is £500,000…. More than enough for a yearly wealthy lifestyle.
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In 2016 there are 100s of marketing channels you can utilise as a business. If you sell any product online there is probably 100 places you can go and list your product and get a few sales through. The most common obvious ones that come to mind are amazon, ebay and etsy but there are hundreds more niche specific ones too. In this post I’m going to talk about how your business can utilise the biggest marketing channels to generate anywhere from a couple of extra sales a month all the way to hundreds of additional product sales.
Marketing channels are not just ways to make a few extra sales, they are also ways to brand your business in itself. Think about companies who sell through retailers and channels such as Tesco, Walmart, Asda, Boots and other huge retailers. If they are looking to sell to other wholesalers or to start promoting to individuals and consumers directly, suddenly they have all this trust! This is the same as if you set-up through a number of large marketing channels.
Another benefit is through the positive impact of your brand campaign. This works both to retailers and individuals. Take making it into tesco, makes it easier to convert individual business or consumers into buying your product. But this works the opposite way too. According to research by the branding division which states the more sales and reviews you have about your brand, make it easier to sell to companies both bigger and smaller. So taking our example, if you have 1,000s of positive reviews on Ebay and Amazon and then approach these big retailers like Tesco, Asda, Boots, Walmart ect – They are more likely to take your product on as they can see the success that has already come through it.
Probably the most popular marketing channel online today and the most successful too. Setting up an amazon business is painfully easy. Tom from Amazon store seo wrote a huge 8000 word article on this talking about the steps to take from product selection, listing optimisation, PPC set-up and everything inbetween that convinced me to start selling products on Amazon, although its still early days for me I have to say I love the business model in itself, you can find that article here if you want to check it out.
But for most businesses I’m guessing you won’t be interested in starting another business and instead you want to get started with just selling your own business’s products on Amazon itself. The basic option you have is to list products on Amazon and sell them yourself. For example this includes posting, picking and storing all your items in a warehouse and getting your team/yourself to distribute them. Now this is better than nothing and if you already have a streamlined process for picking and packing set-up then go ahead. But if you don’t already have this up I recommend option 2.
This is FBA or Fulfilled by Amazon. This is where you send your products directly to an Amazon warehouse and then you get Amazon to pick, pack and store all items. This is personally the approach I prefer as the fees are very minimal and you don’t have to worry or pay for additional staff or storage. Also you get to have the eligible for prime point. Which is obviously great for conversions as 20% of people who have Amazon prime only look at Prime eligible items and you can likely pick up these sales very easily.
Now hear me out here I’m not just going to talk about social media marketing, I’m talking about using Facebook as a marketing channel to get your products SOLD. The easiest way to do this is to use Facebook as a platform for your business. Kind of like a blog. So instead of just writing 20 word posts with some images, I want you to write 300+ word articles based on your business or your products which people will actually read and engage with! From here you don’t want to be overly promotional, you should just say you can get this product from url.com and then that’s it! Do this repeatedly and build a following to become a facebook marketing god!
Finally I’m going to talk about Ebay and the target market here. Generally Ebay has older individuals on. I’m not 100% sure why to be honest but I know there are 2 types of markets. 1.) Older market with money to spend. 2.) Wide age range looking for the best deals. If you can appeal to one of two of these markets you will be successful on Ebay. I know a company that sells solely through Ebay and makes £500 in sales a day, so it can be done, you just have to position yourself correctly in the market.
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This is a phrase I first heard about 2 years ago. I cannot remember for the life of me where I actually heard it but I know it to be true. I’m going to just do a quick article on why I really believe in this phrase and why I think the more boring your business or industry type is, the more profitable your business can be.
This is probably the most important point as its the main reason why if you go into a business type or industry that is considered boring. There are less businesses and individuals in the market. Generally they have higher barriers to entry and most people that want to go into business simply won’t think about this type as they don’t want to be “bored.”
Over the years in their jobs they talked about building a business and now they have done it, guess what? – They don’t want to actually go into a business that is more boring than their job before. But what they don’t know is these businesses generally are quite open. For example let’s take the sticky component of silotape. How boring is that? But if you could make it 10% more sticky at 10% cheaper that’s a million pound a year business at least right there. This works for so many things and sometimes you might think an industry is boring but the secondary industries you can get into might be very interesting. For example if you started in paper which is pretty dull, you could then work your way up to stationary and beyond which many people actually find interesting.
Generally these industries have higher profit margins and its due in part to the fact that there is less competition. For example if there are 100 businesses looking to promote the same (or similar product) then chances are the price will be drawn down by the competition. But if there are only 2 companies promoting this product, the price will be kept high as the demand outweighs the “number of” suppliers. It’s not your basic supply and demand curves that you were taught in Economics 101 but its quite close. But all of this leads to higher profit margins per sale for your business.
Automating or systematising any business is hugely important. Once you reach a certain point you should be trying to automate or at least systematise your business. There are a number of people who earn 6 figures sums in a business but work 80 hours a week. That kills the point of owning a business in my opinion. Instead you should be earning this figure whilst working 10-20 hours a week. So you can actually take that money and go and do the things you want to do. With these businesses automation is made a lot easier as the product is usually so simple. Back to our sticky tape example, once the product is created the manufacturing and production doesn’t change at all. Or if we take another example, like my friend’s Garage shelving business, once the item is up on the ecom site there is just sales left, nothing else! Very simply, very boring but very profitable.
You know what isn’t boring? Having enough money to do whatever you want to do. That is what is really awesome about boring businesses. And if you’ve built them correctly, it seriously doesn’t matter how much you work as your business should be able to run itself. This doesn’t have to be an online business (but I would recommend it) but even store fronts and franchises can be run independently of how much you are actually working. If you think you’re working a lot then you probably are. And vis versa. Build a business for the future not for the now.Learn More
With the staggering number of small businesses being launched almost every day, you have an army of competitors around you. But no matter how many competitors you have, the trick is having the right marketing for your small business. Here are 12 online marketing tips for small business owners out there.
Have you ever thought another setting up your own technology business, building to to £10 million a year and then selling it to Google, Apple or Microsoft for 500 million? I know the thought has crossed my mind and I even did look into trying to do this with a select number of people in the past, but the figures just didn’t add up. The funny thing was, it was in the…..
How glamorous am I right?!
But never the less I thought it would work but we didn’t get started. In this article I’m going to run through 3 ideas you can implement in your local area initially and then in the large national location. These ideas are scalable if you have the will power and the brains and don’t require a lot of initial capital.
To get this out of the way, I love drones. I think quadcopters are the future of transportation for high ticket items. Although they might be a few years away yet, as they need to become a big safer and stronger before they can transfer diamonds, car parts or anything else that is a needed accessory or high ticket item. But creating a drone business is not as difficult as you might think. First you need to chose a quadcopter, once you have picked one up you can reach out to businesses with multiple branches around a business city location, and state if they need anything transported your drone can do it for them for £5. That’s cheaper and more time saving than driving across town!
Utilise modern automotive technology and get on the uber app. I know individuals making 5 figures a month through Uber. That is essentially a taxi service for people. They can order directly from their phone! It costs pretty much the same as a taxi in most places, but they check traffic and “busy-ness” and then give you a price estimate. As a result you can get cheap quick rides and individuals can earn good money without having to be licensed cabbies.
You can take this one step further by purchasing a Tesla, and then you have an electric car, which is a modern tech advance, mixed with Uber which is, well a great app when you need to get somewhere quick.
This can be literally anything. Most people think your app needs to be the next Facebook or Snapchat, but the truth is it really doesn’t. You can build an app to target a niche market and make a lot of money as a result. I’ve personally been involved in 3 app developments (all be it from a venture capitalist side of things) but these guys work so hard and make it work even if they don’t sleep for days at a time! Although I don’t recommend that, I do recommend hustling to become an “overnight success” – I love this video by Gary Vee below when he talks about an Overnight success. It’s so funny to see.Learn More
Would you like to start your own business, but don’t know where to start? Do you need some professional business advice? Do you think you don’t have enough cash or need a better idea for your business to-be? Say no more! Here are the answers to all your questions and more! Here are five business ideas that are way too easy to start and will bring you success you have always dreamt of!
You can think about starting a career in marketing. Regardless of whether you online so that you can gain sufficient experience to build up a neat portfolio! A career in marketing is incredibly rewarding, fun and simply amazing for people with artistic inclinations or communication experts. It is truly something only gifted people can do and if you are one of those people you have got nothing to lose! Starting a career in marketing and a marketing business is practically inexpensive, but you have to know your stuff though.
This business is very lucrative and it also requires no investments. However, it does require that you have a lot of knowledge and experience. So if you know a lot about technology, you can certainly put your knowledge into good use. Therefore, if you find it almost natural to talk about technology 24/7exploit that natural talent to make some money. Because, as they say, if you do the job you like, you will never have to work another day in your life!
Cleaning for many people can hardly be considered a career. However, it is an honest job that brings honest wage, and it does not require any investments. You can also start your own cleaning business and just manage your employees rather than clean for yourself. Owning a cleaning business will certainly give you the opportunity to make some more money. You can also think about it as a temporary arrangement that will help you through some tough times, but you can also turn it into a successful business and expand it and make it even more lucrative.
Freelancing is very lucrative and all that requires is knowledge, a computer and a fast internet connection.
Being a personal assistant is certainly a difficult career path, but it is also an occupation that will bring you money and it is practically inexpensive to start. What’s more, you can develop this further and turn it into a real business, where you will manage clients and assistants. The greatest thing about it is that you do not need any additional equipment! Just make sure that you are able to provide great service and some recommendations and you can start your business!