Wealth: Business Ideas Entrepreneur

Brilliant Business Ideas for Entrepreneurs

Starting a Business takes a lot of thinking and planning. Finding an excellent business idea can be a daunting task – what with the different options of business ideas you can choose from. In this article, we will explore the process of finding the right business idea to start on as well as offer some of the hottest and most popular business ideas. A successful business does take a great idea to begin with. However, this is not necessarily the case all the time. An original business idea can either go up or down. Since it is unproven and untested yet, such an idea doesn’t usually come with an established market.

Starting a Business

The first step to starting your own business is to find a brilliant business idea that will make money. To find that excellent business idea, you should think creatively, even out of the box, so to speak. You can start by asking yourself what interests you. You must be enthusiastic and passionate about your business idea. That’s why as much as possible, your business endeavor must really be in your field of interest. You can find business ideas by from your friends and family members. You can also do some research in the internet to find the hottest business ideas today. Another great way to think up a new business idea is to observe the latest trends.

Which business idea should you pursue?

There are virtually no limits as to the choices of business ideas for entrepreneurs. There are literally thousands of options. From pizza parlors to freelance writing, from services to products, you can definitely find a business idea perfect for an entrepreneur like you. However, which among these thousands of options are you going to stick with? As mentioned above, you should be enthusiastic and passionate about. There is an adage in entrepreneurship that goes like this: “Do what you love the money will follow.” However, this formula does not guarantee instant success. Many entrepreneurs have pursued business ideas that are in line with their interests with varying degrees of success and failure.

Some Inexpensive Business Ideas for a new Entrepreneur

Let’s assume that you are just about to start your own business – a new entrepreneur so to speak. Whether you are a homemaker looking for ways to earn extra income or an unemployed trying to start a business from scratch, there are several opportunities and ideas you can tap to start a business without spending too much capital. The following business ideas will not guarantee instant riches within months but they have the possibility to grow into full-time businesses in due time.

Be a web entrepreneur – the internet offers vast potentials for earning money. From freelance work to AdSense, there is simply an abundance of business ideas you can choose from. You can start by setting up your own website, no need to have technical know-how about web design, just make sure that the site looks good and it provides excellent content. Then, sign up for an affiliate program – this is where you will earn. Then, learn as much as you can about search engine marketing and promote your website. Regularly update your site with new content and just wait for the revenues to come in. It may not be much at first but over time, affiliate programs can help you earn a decent income – and you didn’t spend too much except your time and your knowledge.

Be an eBay Businessman – This is the online version of the garage sale, if you have some things you don’t really need, you can actually earn some money by putting those up for auction at eBay. Just make sure you stick to products that you know about. You can also start making your own products such as candles, art jewelry, and many more. You can sell these on eBay or any other internet mall site.

Try Multi-Level Marketing – Do you have the ability to persuade people to avail of products and services you offer? Do you have a wide network of friends and contacts? Do you have enough time on your hands to move around talking to people? Then you probably have a future in the world of Multi-level Marketing or MLM. This is one of the fastest growing businesses today and you can have it based right in the comfort of your own home.

These are just a few of the huge array of business opportunities you can choose from. Widen your horizons and look for more possible businesses ideas. Dig up magazines, journals, and other publications that might provide additional business ideas for entrepreneurs. Do your research on what the latest trends are. Who knows, you may find the right business idea for a new entrepreneur and strike gold.

For more ideas or assistance, advice or support to start your own small business… feel free to contact us directly – Click Here

Or have a look at some of the pre-packed idea we have already put together for you under our Wealth section – Click Here

With Love, Gratitude and Grace,

  • Yvonne E. Venter-Louw
  • YEVL (Pty) Ltd.: Founding Director & Principal
  • Researcher, Advisor, Educator, Coach, Mentor, Keynote Speaker & Host of the Financial Independent Coach show on YouTube
  • Personal Thesis: The Psychological impact of past experiences (and the rehabilitation thereof) on daily driven financial decisions.
  • Naturally creating and experiencing Freedom, Meaning & Wealth!

Sign-up to our mailing list – Click Here

Accounting Methods – Cash & Accrual (Guest Post)

by: Richard A. Chapo
When starting a business, you have to determine the method you are going to use for accounting and paying taxes. The two choices are the cash method and the accrual method.

Cash Method

If you are looking for simplicity, the cash method is probably your best accounting choice. Generally, income and deductions can be claimed when payment is actually received or made. This is best shown with an example.

I open a small business and have to order business cards and stationery. I receive the products and pay the invoice on November 18, 2005. Under the cash method, I can deduct the cost on my 2005 tax return.

Some businesses are restricted from using the cash method. C corporations may only use the cash method if they have less than $5 million in gross revenues for a particular year. Professional Service Corporations can use the cash method without limit while farming corporations can do so if gross revenues are less than $25 million. Tax shelters are prohibited from using the cash method.

Accrual Method

The Accrual Method of accounting is a bit more complex. Under this method, the focus in on the date the expense is incurred, not paid. Although this may seem a small difference, it can play havoc with your books and peace of mind.

Using our previous example, assume I order business cards and stationery on December 18, 2005. I receive the products on December 30th, but don’t pay the invoice until January 20, 2006. When can the expense be claimed? It depends on when economic performance occurred.

Generally, economic performance occurs when goods or services are provided to you. In the above example, economic performance would arguably occur when the business cards and stationery were delivered with the invoice on December 30th. Thus, I would be able to deduct the expense for the 2005 tax year.

In Closing

As you can see, the cash method is the easier of the two accounting methods. To determine the best method for your business, speak with a tax professional.


About the author:
Richard Chapo is with Business Tax Recovery – Stop overpaying small business taxes. Read more business tax articles.

F.I.C. Book Review: 5 Insider Secrets to Marketing…

Marketing is a business art, not a business science, and the chief executive tends to shy away from it, delegating marketing decisions and responsibilities.

– Darryl Phillips (South African Businessman)

Marketing is, in my opinion, one of the life tools of a business, whether big or small … it is of vital importance to have some sort of marketing running for your business. However, as the quote above states – most business owners and/or chief executives, shy away from this.

In all my years in the financial industry and now the past few years in the coaching industry – I have come to realise more and more the truth behind this quote. The problem is that the business owner is so busy trying to make the business work while working in the business and completely forgetting the fact that he/she has to work on the business as well…

You might be asking … “what’s the difference?” – to be honest, sometimes the lines between the two can get blurred but these are two completely different perspectives of looking at your business.

However, today I would like to help you focus on building / working on your business, through one of the key life-lines which creates possibilities for cash-flow into your business… so without further hesitation … let’s go!

5 Insider Secrets to Marketing Your Coaching Practice, Without Spending a Cent

Although the title might cause you to overlook this eBook, I can solemnly recommend you to read and implement this book into your product or service orientated business.

This easy to read, compact book provides you with insight on how to make your “free” marketing work for you…

What are the 5 Insider Secrets…?

  1. Creating your online profile
  2. Listing in online directories
  3. How to ask for testimonials and what to do with them
  4. Strategies for leveraging your network effectively
  5. Ways of finding inspiration for creating online content

Now… what I really like about the content was, that Megan provides you actual ways on how and where to implement some of these secrets. From personal and professional experience I can honestly state by implementing these 5 insider secrets, any business (small/ medium/ large) can

  • increase their brand awareness
  • increase their marketing reach
  • increase their potential cash-flow generation
  • increase their potential business growth

Be honest with yourself… Is there room for growth in your business? Do you desire to grow your business? Are you looking for ways to increase your brand awareness?

If so, I am sure Megan would not mind if I share her eBook with you … Click Here

About the Author:

Megan and I are friends for a few years now through COMENSA. As you will read in her book, she has been coaching businesses and their management since 2002. Although it did take her some time to find her niche – she has established herself as an expert in her field.

Thus, feel free to grab your copy of the ” Insider Secrets to Marketing Your Coaching Practice, Without Spending a Cent”

P.S.: Megan’s contact email and website address is included in the eBook, should you have any question or need for more information.

With Grace & Gratitude

Yvonne E. Venter – Louw

  • YEVL (Pty) Ltd.: Founding Director & Principal
  • Researcher, Advisor, Educator, Coach, Mentor, Key-note Speaker & Host of the Financial Independence Coach show (YouTube)
  • Personal Thesis: The Psychological impact of past experiences (and rehabilitation thereof) on daily financially driven decisions.
  • Naturally creating Freedom, Meaning and Wealth!
  • P.S.S.: Are you interested in finding out more of the “Why, What, When, Where and How…” uncovered in the process of writing the abovementioned thesis?

Sign up to our direct mailing list

Financial Independence Coach show: Ep 3 Q & A

Welcome to episode 3 – Questions & Answers submitted

….

Here are some of the questions that have been submitted to our Facebook page – which I answered on the show

How do you establish your natural ability and nature?

  • Dr John F. Demartini: Value Determination
  • Tony Robbins:

I do not know where my cash flow has gone?

  • Free cloud-based accounting: http://www.waveapps.com ( Personal & Businesses – Note it does not allow payroll for South Africa)
  • I personally have experience Identity-theft twice in my life … thus I do not link my bank accounts to any other account or apps.

How do you build a system for a small business?

  • Free Templates
  • From feeling like a Zero to being a Hero
  • Writing you 1st employee handbook
  • SME handbook
  • Workable Templates -> email request to admin@yevl.co.za

What you do when you feel redundant in your own business?

  • Simon Sinek – Start with Why
  • YEVL Template – My Life Goal, Vision, Mission and Purpose

How do you build wealth through a small business? MLM – Multi-Level Marketing

  • Robert T. Kiyosaki with Sharon L. Lechter (C.P.A) – The Business School For People Who Like Helping People
  • Examples: Avon / Herbal Life / Amway / Forever Living Products / Honey / This is just to name a few…

Want your questions answered by myself or one of our esteemed guest -> contact us directly

Until our next show, my peace and prosperity be with you (Shalom)

With Grace & Gratitude,

Author:

Yvonne E. Venter – Louw

  • YEVL (Pty) Ltd. – Principal & Director
  • Researcher, Advisor, Educator, Coach, Mentor, Keynote Speaker
  • Host – Financial Independence Coach show (YouTube)
  • Personal Thesis: The Psychological impact of past experiences (and rehabilitation thereof) on daily driven financial decisions
  • Naturally creating Freedom, Meaning & Wealth!

P.S.: Are you interested to find out more about the “Why, What, Where, When and How…” uncovered and discovered in the process of writng the abovementioned thesis? Sign up for our direct mailing list -> CLICK HERE

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