Pages

Thursday 4 April 2013

15 PROFITABLE BUSINESS SERVICES YOU CAN START WITH NO MONEY

What are the best B2B business ideas for 2013? One of the most important keys to starting a business successfully is capital.

However, one of the best low cost; yet profitable business opportunities any entrepreneur can tap into is a service business. Most aspiring entrepreneurs shy away from service businesses; even though it is the easiest to start because it requires specialized knowledge or skill.

In this article, I will be highlighting 15 business to business services you can start right away with little capital. I got the inspiration to write this article by analysing the business services I have utilized or paid for over the years; I am talking about services you can offer to businesses and entrepreneurs alike. The startup capital of a service business is usually low because of the little overhead required to start.

You can start a service business right from home; with little or no inventory and operational cost. The 15 business services listed below are highly profitable because they increase the buttom line of businesses and entrepreneurs will pay anything just to see an increase in sales and profit. If you are interested in starting a business to business service, then pleas read on.

What does it take to start a business to business service?

The answer is not much. You can start with as little as $0 capital and grow with sweat equity. You can start a service business from home as a self employed to keep your expenses low; and run lean until you begin to turn in profits. Then you can consider renting an office space and hiring employees.

The most important thing you need to start a service businessis specialized knowledge or skill; because this is what your client be paying for. So therefore, you must be an expert at something or having a specialized skill doesn't require you be a college or university graduate.

You can acquire the necessary skills by attending seminars, workshops or apprenticing with an established expert. After honing your skill, you then proceed to gain some real life experience. Aside these, you are good to go with your service business. Having said all this, below are 16 business services you can start with little or no money.

1. Business Consultancy

Are you an experienced entrepreneur or business owner? Do you know what it takes to start a business, build a business, run a business and grow a business? Then you can start a business consultancy outfit. You can help businesses or entrepreneurs get off the ground by offering business advice and guidance. You can also assist employees transit into entrepreneurs.

2. Small business advisory service
If you are well grounded with the metrics of running a business on a lean budget, raising venture capital and growing a business; then you can become a small business advisor to startup entrepreneurs. How about becoming a small business coach? Don't fret, small bussiness coaching services is a business that has been in existence for long and those in it are reaping the rewards but it's never too late to get in. 

3. Feasibility study and research services
You can build a business around conducting feasibility study and research for entrepreneurs. Not every entrepreneur is willing to undergo the stress of conducting a feasibility study on their business idea or opportunity; so they will gladly pay someone to do the dirty work on their behalf.

 4. Business plan writing services
Just like the case of feasibility research; most entrepreneurs avoid the dirty work of writing a business plan. In fact, most entrepreneurs don't even know how to write a business plan that has the capacity to attract investors and they are not willing to commit time to learn it. If you can satisfy this need; you have a business on hand.

5. Business Opportunity research
I have a couple of friends who started a business opportunity research services and they are doing well in this business. All they do is to keep an eye on forthcoming trends, needs or business opportunities; prepare a plan around it and sell it to major corporations. Sometimes, they come up with product ideas and business ideas with market potentials; then they sell such ideas to major corporations to develop. If such activity interest you, then you can start a business opportunity research service business.

6. Brand consultancy and management
Do you have expertise in branding? Then you can start a business advising small business how to build a brand or increase their brand awareness. You can also offer brand management consultancy services to big firms if you can market yourself to them.

7. Logo Design
Logo design service demand is on the rise. With small business looking for possible avenues to set themselves apart from competition; having a unique eye catching logo is definite one way to achieve that. Can you design eye catching logos; then get into the logo design service business. You can even partner with a brand consultant or marketing consultant to get more business.

8. Marketing Consultancy
Can you show me a cost effective way to increase my customer base by 30% - 70% or more? If yes, then you have a business on hand. You can position yourself as a professional marketing consultant and show small business owners how to attract customers and increase sales for a fee.

9. Social media consultancy
The world is going social media crazy. Do you know how to generate traffic and improve brand awareness on social networking sites like Google+, Facebook, Twitter and LinkedIn? Then you can become a social media consultant and make money for yourself.

10. Employee recruitment services
Human resource management is one of the many business processes that are now being outsourced. Business owners are now concentrating on their core; they don't want to be bugged down by the process of employee recruitment and staff handling. You can step in and solve this problem by starting your own employee recruitment firm.

11. Bookkeeping Services
Are you good with numbers? Is balancing the books something you are passionate about? Are you good at accounting? Then nothing stops you from starting a bookkeeping service business.

12. Press release writing services
Free publicity is something every business owner desire but unfortunately; only few know how to get it. If you are good at writing press releases that's sure of getting published, why don't you charge business owners a fee to help them increase brand awareness via public media

13. Startup venture capital brokerage
Raising capital is one of the business challenges entrepreneurs dread most but unfortunately; it's a nightmare we can't run away from. I f you can position yourself as a middleman or broker; linking up startup entrepreneurs with venture capitalists and angel investors, then you are in business. You make money in this business by charging a percentage of the total money raised by the entrepreneurs. Some smart entrepreneurs have even taken this business idea online (CrowdFunding), you can do the same.

 14. Printing Services
This business is well known and may look common, but it still remains profitable. You can start a business printing business cards, brochures, flyers, posters, and catalogues for small businesses.

15. Event management
Most small business owners love being part of summits, expos, and tradeshows but they just don't how to go about it or how to package their products and services at such shows. This need creates a vacuum for small entrepreneurs who have an eye for business event packaging.

TOP 10 BEST FOOD BUSINESS IDEAS TO START

What are the best food business ideas to start this year? I am interested in the food industry, Which business do I start? What opportunities exist in the food industry? If you want answers to the questions above, then read on.

If there is an industry that is unlikely to do down, it is probably the food
industry. Regardless of the economic situation, weather or whatsoever,
people must eat. People might stop buying clothes and jewelries but they
will never stop eating. Also, this is a business you can start in any
locality or region; whether Nigeria, Canada, U.K. Ghana, India, Singapore,
etc. So if you are interested in starting a food business, below are some of
food business ideas to help you start or expand your existing food business.

1. Become a food producer
The food industry is highly dependent on the producers. To make hamburgers,
fast-food chains need meat and flour; which in turn are produced by the
farmers. To offer vegetable salads, resturants lettuces and potatoes.you
dont cooking skills and extensive business plan to become a farmer. If you
can grow crops or raise animals like cow, snails, grasscutters, rabbits,
pigs, turkeys or chickens, you will surely find buyers both locally and
internationally. You can also establish large scale plantations such as palm
oil plantation, platain, orange, pineaple, etc.

2. Food Cart or Stand
selling food is probably one of the problems for people who want tto start a
food business. The reason is because most people don't have the needed
capital to invest in resturants or fast food joints. If you really want to
sell ready to eat foods, you don't need a space with a high monthly rent.
One of the top food business ideas for those with small capital is to use a
food cart or stand. You can operate for free or for a small fee. The success
or failure of this business depends on your location. You don't even need to
push the cart around, you can just concentrate on cooking and emply people
to push the cart and sell the food.

3. Food Retailing.
You can also ratail raw food or processed food stuffs. I mean food stuff
such as yam, rice, beans, flour, maize, etc. Your aim here is to source for
the food stuffs at a wholesale price and resell for a profit. You can even
take it a step further or sourcing it from the producers or farmers and
resell it both wholesale and retail.

4. Frozen Foods
Not everybody likes going through the stress of killing and preparing
animals for consumption; thereby creating the need for ready-made frozen
foods. There are a lots of foods that you can sell frozen. There include
chicken, meat, ice creams, yoghurt, etc.

5. Food Processing
Do you have the capital to invest in machines and structures? Then you can
start a food processing plant. In fact, there is no limit to the food to the
foods that can be processed and packaged. It is up to you to decide. You can
process palm seeds into palm oils, cassava, yam, corn, millet into flours,
cocoa into beverages, raw cow milk into refined milk, fresh tomatoes into
canned tomatoes, etc.

6. Restaurant
If you posses cooking skills, you can start a resturant and serve those who
eat out. You can start this business on a small, medium or large scale. You
can also choose to serve local or international dishes.

7. Fast Food
Setting up a fast food shop is another profitable idea to look into. Despite
the popularity and dominance of companies already in it, you can still
breakeven if you will be willing to find a small niche and serve it. In
Africa, the market is still very much untapped.

8. Roving Food Van
If you don't want your food business to be stationery, you can use a vehicle
such as a van to go around the city offering your food products. It is more
expensive than a food cart but you can reach more people and you wouldn't
have to rely on passerby.

9. Organic Foods
This list of top food business ideas would never be complete without the
inclusion of organic foods. Over the years, organic foods have been sought
after because of their health benefits and as health awareness increases,
this business is bound to grow. Ideally, organic foods are free from
chemicals, fertilizers or preservatives. You can brand yourself as a
provider or retailer of fresh organic foods or better still, you can just
serve vegetarians.

10. Weight Loss Dietary Foods
Aside from organic foods, there is also a craze involving foods that help
people lose weight or at least don't make them fat. If you can specialize
and come up with foods that have weight loss effect, you can easily find
customers.

  • Cake Decorating
This is much like the previous idea but this one suggests that you be
creative in designing the food itself. These days, baking cake alone no
longer holds water; customers want to see creativity. Most people are used
to decorating cake for special occasions such as weddings and birthdays but
many enthusiasts proved that cake decorating can be done on regular days.
You can also take cake decorating for special occasions to the next level.
Veer away from the traditional decorations.

  • Baking or Cooking Lessons
Food business ideas don't have to be only on processing and selling foods.
If you are good at baking or cooking, you don't have to focus on merely
selling foods. You can sell your knowledge for money. You can even set up a
catering school. However, you need to demonstrate outstanding skills to gain
students.
  • If you find this tips encouraging on how you can start a food business give your comment

Wednesday 3 April 2013

HOW TO SELL A PRODUCT TO A CUSTOMER

Sales is one of the most important aspects of business and the reason is because without sales, there will be no revenue and profit. Now it is a well established fact that the customers are the deciding factor when it comes to sales and in today's world, where the marketplace is crowded with variety of similar products; having a great product is not enough anymore. You must know or learn hoe to sell. Now how do you sell a product to a customer? How do you convince a customer to buy from you in less than five minutes? Well, you are going to find out in this article.

"The ability to sell is the number one skill in business. If you cannot sell, don't bother thinking about becoming a business owner." Rich Dad

you may have an excellent product but if you do not know how to market it to people, you will have difficulty in generating sales. Now selling is a process that requires preparation, you also need analytic  and marketing skill to keep your product noticed. Although selling techniques to be employed may vary along with your target market, some selling principles and basics remain the same regardless of different factors. So whether you are running a retail store, a wholesale shop or you are selling services or products online, here are some sales tips on that can help push your products out faster:

How to sell a product to a customer in Less Than 5 Minutes
Know your Product by heart
Nothing is more appalling to customer than a seller who does not know what he is selling. As a professional salesman or an entrepreneur, you have to be ready to answer your customers' questions regarding your product. To sell your products faster you must know the basic things about your products like its functions, where it is manufactured, its specifications, strengths and weaknesses, results to be expected from using the product, etc. In fact, you must know the A-Z of your products like the back of your hand because sometimes, selling involves teaching and educating customers.

Convert your product features into benefits
knowing your product's key features is not enough if you really want to sell your products fast. Why? The reason is because customers don't care about the features or specifications of your product; rather, they are interested in what your product can do for them. So you can take this as an advantage by using the key features of your product to communicate to your customer how this product is going to be beneficial to him. Don't tell the customer about your product features, tell him about what he can get out of your product, or how a certain function of the product is good for him. Amplify the benefits of your product and you will sell it faster.

Get to know your potential buyers
How well do you know your existing customers? What do you know about your potential customers? What are the demographics of your potential customers? Where do they shop? Why do they buy? What do they buy? What is their level of income? What is the ultimate benefit they are looking for in a product?
To sell faster than your competitors, you need to answer all the questions asked above. And to answer these questions, you need to do some research regarding your target market and have an idea about what they are looking for in a product similar to the one you are selling. Also learn what group, age bracket and socio economic status of your prospective customers to strategize more. Arming yourself with this information will reveal your customer's soft spot, give you an edge over your competitors and enable sell your products fast.

Advertise your product
Selling your products faster can be made easier with proper advertisement. When you advertise your product, customers will easily have a basic knowledge on what it is you are trying to sell. So instead of introducing your product, you can just concentrate on answering your customer's questions and clearing his/her doubt. Advertising your products will also enable you to reach out to potential buyers who know little or nothing about how good your product is. Getting a customer to be interested or curious is important so that he will pay your establishment a visit.

How to sell a product to a customer in Less Than 5 Minutes
Be straightforward and be honest
Never make representations about your product which is untrue. Do not exaggerate on its benefits or features  because it can only get you into trouble. to sell your products and also recurring sale,  you have to be genuine and trustworthy. Customers are getting smarter; they are learning to read beyond the lips of salespeople and they are getting bored of media hype. People do not like it when they are tricked into purchasing an item which fails to meet their expectations

Be enthusiastic
Enthusiasm can make a big difference especially in the game of selling. To be good at selling, you have to love selling. You must love interacting with people and above all, you must be happy to help people understand your products or company better. You have to love promoting and selling your product because this will reflect on how you deal with customers. Give the customer some space yet let him know that you are there to help him with his queries.

Make your product stand out
Now if you are just a salesperson, there is really not much you can do in this area but if you are a business owner or retailer, then there's much you can do. To Sell more products is less time, you must separate your products from the rest of the pack. What distinguishes your products from those of your competitors? Does your product stand out in the Marketplace? These are questions you must answer.
To separate yourself from the crowd, you need to tell your customer why your product is better than the others available in the market. Talk about added benefits, unusual characteristics, and why they can get the best out of their money's worth if they buy your product. you can stand out by giving your product a unique packaging, brand your products, offering a specific promise, positioning your products strategically especially in trade shows or events, etc.