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Budgeting and Contingency for Your Home Business

Small businesspeople have their perks. They can work at home, in pajamas if they want, and seldom have to take orders from anyone but themselves. But with the fun part of the job comes certain responsibilities, in the form of budgeting for your (hopefully) growing business, and assuring that there are contingency funds available should problems arise. And problems will arise. The first step, even if you consider yourself a math whiz (few of us do) is to invest in a copy of The Simply Budgets Program for Money Management. This incredibly easy to download, easy to use program shows you all the ways you may be losing money without even realizing it. By getting a handle on your unnecessary spending, you can curtail it, and even reverse the trend, towards savings. And since so many personal expenses are included, too, you can use it to delineate your personal and business expenses for tax purposes! The second step towards budgeting accountability is to get a handle on your accounting procedures. It may be easy to leave it for your accountant or, worse yet, fob it off on your significant other, but this may be leaving you open to all sorts of tax penalties or unpleasant surprises when you’re trying to pay your bills. It’s a tutorial that’s done completely online, at your own pace. Learn how to take care of your own books, save yourself money and aggravation, and maybe you can even start charging others for your newly learned expertise! If you’re truly going to become accountable for budgeting and contingency, it’s crucial to build the credit of your business. Whether you’re a sole proprietor or incorporated, you’re going to need credit in order to grow. Your identity is vulnerable, if you bank online, make purchases over the Internet, or even use your bankcard at your local gas pump. In this day and age, bad things can happen to good people. Predators can steal your identity and open accounts in your name, or (yikes!) that of your business. Protect your identity with Identity Guard. They give you three ways to protect your business credit, and can provide fraud protection as well. Your livelihood deserves the best protection you can offer. Lastly, a true budgeting and contingency master always leaves room to grow. Hopefully, your business will be a smashing success, and you’ll need to hire tons of people to help you rake in the dough. Robert Allen & Mark Victor Hansen are the authors of The One-Minute Millionaire, which teaches people how to cultivate a mindset of success before manifesting it. Their new book, Cracking the Millionaire Code: Your Key to Enlightened Wealth, gives step-by-step strategies to cracking the unique codes in our own lives, that can keep us poor and unhappy, or help us build enlightened wealth. They’re even offering a host of bonuses if the book is purchased through the link below. To your success, and the achievement of all your business dreams!

Copyright 2006

Massage Therapy and the Entrepreneur

Some people enter massage school to help others through healing touch. Some attend massage school to work in a particular field such as sports medicine or in a spa environment. Others receive massage training to satisfy a different ambition. They want to:

¨ Own their own business

¨ Be their own boss

¨ Make a lot of money

The massage industry is not immune to capitalistic instincts. Nor should it be.

Many massage schools tout the income potential of a career as a massage therapist. Income projections for a good massage therapist range from $50-$75 per hour. That translates to about $65,000-$100,000 a year depending on the number of clients served each day. This also requires that you are working independently and managing your own client base.

As attractive as a six-figure salary for providing massage therapy may be, the reality is that the median income for a massage therapist is $35,000. Many massage therapists only work part-time and quite a few are working in spas or health clubs as an employee or sub-contractor. So apparently, the big money in massage therapy goes to those that own their own business and practice full time.

So can you make big bucks as a massage therapist?

It is definitely possible to make a quite decent living as a massage therapist. But don’t expect to strike it rich right out of massage school. You will have to build up a fairly substantial client base and that doesn’t happen overnight. Many new massage therapists go to work in a spa or health club to gain experience and build a reputation. Others perform massages for a very low fee or even for free just to get some buzz going about their capabilities. It can be a slow go once a therapist is out on their own and quite a few massage therapists call it quits as a full time enterprise early on.

As in any business it is usually the person that works the hardest and provides the best service that becomes successful. It takes patience and perseverance to build a business from scratch. It also takes some decent business skills. A self-employed massage therapist should be prepared to spend time managing financial records, keeping licenses current, filing taxes appropriately and treating their massage therapy practice like the business enterprise it is.

If starting at square one and taking the slow road to success is not appealing you may want to consider jump-starting your massage business by making an investment in a massage franchise. For a mere $39,000 you can become the proud owner of a Massage Envy franchise.

Massage Envy is a hot new franchise that currently boasts 101 units in operation with a total of 274 franchise units awarded. The company offers a recognized brand, training program and ongoing support for franchisees. Each Massage Envy clinic offers a variety of massage modalities and is open 7 days a week. As an owner you would employ multiple massage therapists. Heck, you don’t even have to be a massage therapist to own a massage business like this one.

There is no doubt that the demand for massage is growing rapidly and the need for massage therapists will grow right along with it. Those therapists with excellent massage skills, good business sense and a dedication to service can expect to make a comfortable living. Others can take satisfaction in helping others to deal with pain and stress while making some decent part-time income.

Essential Qualities of a Truly Successful MLM Business Opportunity

MLM business opportunities are the rage now on the internet realm. Almost everyday, a new MLM business opportunity is born. If someone decides to learn how to earn money online, the first opportunity that surfaces will probably be a MLM business opportunity. With so many MLM business opportunities sprouting up everyday, how will you know which ones are here to stay and which ones will be gone the next day? How do you decide if it will eventually allow you to earn a nice income working at home?

In order to succeed at any MLM business, a lot depends on the individual’s qualities. But nevertheless, a successful MLM business opportunity will always give its members an edge over other MLM companies. So how will you know if the MLM business opportunity you are considering is able to give you that “edge”? Well, here are some considerations for choosing a successful MLM business opportunity to start out your own business.

1. Great Products

Although MLM business opportunities promise great wealth for members who market the opportunity successfully, they are still essentially businesses and should provide a tangible product. A great product is one aspect of a MLM business opportunity that cannot be overlooked. A MLM business cannot survive solely on the opportunity it provides. No MLM business opportunity will be able to sustain itself without a great product and no members will be willing to stay on as members if there is no tangible benefit for them.

2. Great Compensation Plan

At the end of the day, the honest intention of anyone joining a MLM business opportunity is to be able to earn money. The products can be great and will be an added bonus in enticing people to join and stay on as pure consumers. But the majority of people who join have the sole intention of making it their main source of income and this is where a great compensation plan comes into play to bring about the best in all its members.

So what makes up a great compensation plan? There are many existing compensation plans that vary wildly in structure but ultimately a great compensation plan should be able to reward the most committed members for their sponsoring efforts. Incentives should be given to members who are able to sponsor the most members while members who are not as adept in sponsorship should still be able to reap reasonable rewards for their efforts. Ultimately, a great compensation plan will determine its members’ income and the life value of the MLM business opportunity.

3. Great Support and Training

This is the final piece of the puzzle and the most important component. Statistics show more than 80 percent of the people who join MLM business opportunities ultimately fail and give up. They move on and consider the experience as a lesson learnt or a miscalculated investment. But the truth is most failures do not result from bad decision but from bad support and training. A truly successful MLM business opportunity should be able to provide the necessary support for its members such as marketing materials, advertising avenues, thorough product and compensation details etc. Full training and upline to downline support must be available. Training sessions such as marketing techniques, how to get leads and lead conversion tactics are essential training that can make or break any MLM member. All members should be groomed to become good leaders who can in turn pass on their skills and techniques effectively. Only so can the success of a MLM business opportunity be assured.

The desire and commitment of an individual is indeed a key component to the wealth and success achievable. But making the right decision to take on the right business is also instrumental in aiding a person’s success. Choose a right MLM business opportunity with the essential qualities for success and commit to making it your own success, only then can you live the dream you truly desire.