The economy is obviously not in the best shape it has ever been in.  The job market is struggling, and people aren't necessarily receiving higher salaries because of the economic crisis.  Therefore, the situation has forced people to find extra money to support their basic needs, and others are looking for ways to finance their luxurious lifestyle that they are not willing to give up.  The most convenient way to make money is from home and there are several ways to do that Sell your crafts Do you knit? Make jewelry? Sew? If so, there are lots of opportunities to...

By Susan Schreter During the last few weeks I've received letters and comments from business owners that reflect their uneasiness with the economy and the potential for another “dip” this winter. They worry that “things are really going to get bad again” but they don’t exactly know how or when.  One business woman asked, “Is it better to try to prepare for some worst case scenario or just wait until it happens and deal with it then?” Years ago, during a similar period of economic uncertainty and sluggish growth, I read an...

Managing cash flow can be the single most challenging aspect to managing a small business, particularly in times of steadily increasing costs. To make matters worse, many small business owners believe “it costs what it costs,” which is simply erroneous. Here are 10 tips for small businesses to reduce operating costs and increase cash flow: 1. Leverage consumable spending. It may seem that purchasing paper towels or hand soap periodically is not a significant investment. However, if you consolidate this spending with fewer suppliers, you’re more likely to obtain...

Online start-up businesses run by young adults are an increasingly common phenomenon. A commonly overlooked demographic, however, are the real youth — those under 18 years of age. With online businesspeople facing very low barriers to market entry, many tech-savvy kids are getting in on the act and taking advantage of the opportunities that abound. While these entrepreneurs are more the exception than the rule, some of their successes are highly notable Sadly, these successes aren’t as common as they could be. While the world has countless enthusiastic young people with...

Are your employees giving your company their all? Do they believe that what they're doing is important? Do they feel appreciated? Do they show up for work each day filled with passion and purpose?   Follow these tips to power up the performance of your employees and your company. Be modest Many new managers are nervous about proving themselves, so their frail ego and fears lead them to discourage their employees from speaking up, losing the benefits of those employees’ experience. He remembers sitting in on one management meeting where the words and...

In a tough economy, working for yourself can be an excellent alternative to unfavorable job opportunities or unemployment. But there are a number of potential pitfalls to avoid, especially if you are used to working for someone else   Step 1: Know Your Financial Situation   The essential first step to becoming your own boss is figuring out how you're going to write your own paycheck. You need to know - to the dollar - how much money your own business will have to make in order to keep operating and keep providing you with a livable wage. Before you...

Here are ten questions you should ask yourself before proceeding with any business idea: 1. Are you really clear about the idea? Write the idea out on a 3x5 card and test its clarity on colleagues. 2. Do you create value for customers or users? Is your idea ten times better, faster, stronger, cheaper than the incumbent? 3. Do you solve a problem, address a need or a pain in the market? A pain is an unresolved issue in the market. 4. Does your idea have a competitive advantage? That is, are you doing something better than your competitors? 5. Is your idea...

A home-based business will save you from other expenses that would otherwise be costly. A home-based business will automatically cut your rent, electricity, parking, gas, and other overhead charges. Note: Once your business has started earning a steady profit, you might want to donate a share to cover a part of the household expenses. 1. More Work Time, Less Commute Time According to a recent Gallup poll, North Americans spend an average of almost 50 minutes a day commuting to and from their offices. One of the best benefits of working in a home office is that commuting...