You may have a new years resolution to start your own business, but as you know some of the forthcoming new years resolutions are easy to keep, some others are more challenging and most of them will be broken within the first month. So if you are thinking about starting a small business in the new year here is how I would go about it in five easy steps:

1. Define Your Goals:

When you get in your car you usually know where you want to go. It may be surprising to you to find out, that most businesses do not have a ‘formal’ goal. The problem with that is that you never arrive, because you don’t know where you want to go. What are typical goals to have?

• Make a certain amount of money a month!
• Have more time for your family and friends!
• Be at home when the children come home from school!
• Avoid travelling for hours each day!
• Have a better work/life balance!
• Be the biggest and best in you chosen field!

What ever it is, write it down and go back to it now and then, especially if your are not sure how to make a decision about a problem. Focusing on this goal is absolutely essential to your business success.

2. Get A Business Idea:

You may already have a business idea or you may be looking at something a little vague still. What ever your situation, make sure your business idea aligns well with your business goals.

It is no good to run a busy office if your aim is to be at home for your kids. If you have your heart set on a business idea but it does not align well with your goal, try thinking of variations, working with others by forming a virtual company or subcontract to someone else as a freelancer to achieve your goals. Stay focused on your goal.

3. Test Your Business Idea:

Once you have decided what to do you need to test the viability of your business idea. The way you do that is by doing a cash-flow plan. This is not an exact science, but it will show you what you have to do to achieve your business goal.

If for example you want to produce artificial flowers, working from home and your business goal is to make say £ 5,000.00 a month. You can work out how many artificial flower arrangements you will have to produce to make this money. It will give you an idea if that is possible, because you will know how long it is going to take you to make these flower arrangements and what their average sales price will be and what your raw-material cost and other business costs per month are.

If you have never done cash-flow planning then find an accountant or a bookkeeper who will show you how to do it. It’s easy and you can learn it in 30 minutes. Our OnlineOffice has a cash-flow tool you can use for free for 30 days. That is enough to test your idea. Our 24 hour live support staff can also help you to get started with cash-flow planning, it’s free.

One final word on cash-flow planning here. It is not about being right, it is about doing it and then analyzing why you were not right. I’ve been doing it for 30 years and I was never right, but I’m fairly good at it. It will allow you to see many problems arising before they are a big problem. In my opinion this is the most important business tool ever.

4. Bootstrap All The Way:

One simple rule to stay in business is not to spend any money you do not have. Bootstrapping is all about that, making money first then use it to establish a solid small business.

Given the current economic climate, borrowing money from a bank is very difficult and that may just be very good for anyone to start a business. It will teach you financial control and self-reliance. Here are some of the rules I have:

• Do Not borrow money from banks, they will want it back when you can least afford to pay them back. They do not care how your business is doing, good or bad, they just want their money back.
• Do Not put your house or any other valuables you have on the line until your business has proven itself. A good bootstrapped business will make money from day one, that will ensure the business idea is good too.
• Do Not fear failure or making mistakes. Because you will be making mistakes, I make them every day and you may very well fail with your business, I have in the past. The important part with bootstrapping is it will not hurt you, it will just be part of your learning process to be come successful. After a failure you can show your true ‘colors’, by getting up and starting your next business.
• Sell to your friends, family and your current employer first to get the first order and money into your business. You could even let them get involved into your business. as partners or investors.
• Every problem somehow hides an opportunity, you just need to think about the problem out of the box. Every time you overcome a problem you confidence will grow and it will make you a better and stronger business person.
• Outsource every non-essential business process, bookkeeping, call answering, credit control, website design and keep your business IT online, the most important resource is not money, but your time - do not waste it on non-essential tasks.

There are many more rules I have established over the years, many of which I have broken, but these are the ones I strictly stick too.

5. Stay Focused, Always!

If you want to do flower arrangements your business is flower arrangements and NOT:

• Installing an IT system or an SQL server;
• Setup your data security and internet security;
• do your accounting;
• do your web-site;

Remember it is easy to waste your most precious commodity ‘TIME’ and have nothing to show for it. You may say ‘I have no money to have someone else doing all these things’. Please remember there are always opportunities in every problem. Here are some:

• Barter for services with your flower arrangement, i.e. for one month bookkeeping, you may find a new customer this way, get mouth to mouth advertising and most of all you do what you do best - flower arrangements..
• Keep your IT online, it is very cheap, more secure, easy to use and more reliable, you can often get some time for free, maybe even a whole year.
• Depending on the services or products you supply you may be able to receive many other services and products in exchange for your services or products.

Whatever you do, don’t get side tracked from your business goal, ultimately this is the main reason for small business failure. Your business will look more professional if you outsource your non-core business needs to small businesses focused on those services.

As you may know I have set us a challenge to be ‘instrumental’ in helping to set up 1000 new businesses until October 31st, 2009 - so, if you are going to do it, please register with us and help me to win my challenge.

It has never been easier to start a business to supplement your income - 2009 is the year for you to do it. — ST.

I’m thinking more and more about opportunities for people to start a small business, home business or a self-employed business during this recession/depression or once they lose their jobs.

This afternoon I had this idea as another company was in the news with over 2000 job losses. I thought about what happens when companies go under and it occurred to me that there is still business to be had, when a business fails.

Let us assume you work in one of those businesses, you will know part of the business very well, you may know some customers or how something is manufactured, or something else that was part of what your employer did. Now you and your colleagues are unemployed and you lost your income.

BUT think about it - are you the only party that is suffering here? No you are not - the former customers or clients have lost a supplier too.

So here is my idea, what about if you and some of your colleagues set up small home businesses and formed a little Co-operative and started providing services, like maintenance or upgrades or products to these former clients of your employer? Why not use your knowledge to your advantage?

There are so many opportunities here, if you think about it a little, that you and some of your colleagues could make a good living out of this disaster. You never know - you may be able take more and more of your colleagues into your self-employed co-op. Always remember the bootstrapping principals and you should be fine.

Every cloud has a silver-lining - you just have to look for it. — ST.

This great little video will give you a couple of things to think about. I believe - as a bootstrapping technique - starting a small business with family members is a great way to go about starting you business.
But remember you family is your family, you can’t just walk away from your family. — ST.

London/New York/Brisbane, November 17th., 2008. Today Winweb launches it’s long anticipated ‘Business’09 - Win £10,000‘ campaign for small business and pre-entrepreneurs. The launch coincides with Global Entrepreneurship Week and Enterprise Week 2008. The finalists and winners will be announced during the same events next year.

WinWeb makes it’s own 15th anniversary celebration into a ’start and run your own small business celebration’, honoring individuals and small business owners, who have the courage to turn their dreams into reality.

WinWeb and It’s Supporters & Sponsors have set themselves a Unleash It! Challenge until Global Entrepreneurship Week 2009, to be instrumental and inspire at least 1000 new business startups.

‘We are recognizing the fact that small business makes up to 95 % of all businesses worldwide, generates over 50 % of GDP, a staggering 60 % of all innovations and have a long lasting positive impact on local communities world wide’, says Stefan Töpfer, CEO of WinWeb.

The questions asked in the competition will provide an inside to entrepreneurs thinking prior to and after launching a small business. These findings will be published in a separate report later next year. Especially in these times of economic downturn it is essential to understand the motivation of ‘would be small business owners’, to foster an environment in which small business can flourish.

Encouraging small business owners and budding entrepreneurs with the inside that starting a small business often does not need money, but primarily time, is another way by which the campaign hopes to help in the creation of new small businesses.

WinWeb enlists the help of a high caliber panel chaired by Professor Ian Angell of the London School of Economics(LSE) along with media and small business professionals from Europe, the United States and Australia. WinWeb encourages media and new media, especially bloggers, to support the campaign and to help make it a success and reach WinWeb’s goal of starting a minimum of a 1000 small business during the next twelve months. The independent panel will report in on the final number of small business startups during Global Entrepreneurship Week 2009.

‘If our joint efforts would bring about the creation of only 1000 new small businesses worldwide, and I believe we can start many more, then this campaign will have been a great success for all involved, so we ask for as much support as possible. I would love to see this campaign to go viral, to maximize the benefits to society as a whole. This is our Unleash It! Challenge during Global Entrepreneurship Week 2008′, says Stefan Töpfer. Details, on how to get involved, can be found on the campaign website under ‘Support Us.’

Regular updates of the Business’09 Campaign will be available at the two official campaign blogs, the WinWeb Blog and The Small Business Blog and other supporting media and blogs.

About WinWeb and Media Info

WinWeb was founded in 1994 by Stefan Töpfer and has become the leading provider of on-demand online software (SaaS) and real business services to the 1 to 10 people SOHO and Micro Business Market. Based on WinWeb’s OnlineOffice, the Small Business Infrastructure has provided hundreds of thousands entrepreneurs with an micro business eco-system. This enables the micro business owner to access professional services on a time-shared basis for ad-hoc, projects, short-term or long-term demand, enhancing the businesses competitiveness and productivity, while keeping cost down and variable. This greatly enhances long-term survival of micro businesses.

Media Contact: Mr. Simon Robinsons of Farm Street Communications, London, U.K.

Telephone: +44 (0) 207 436 9844

There is such a wealth of information on the Internet that it can often be hard to find what you are looking for or to know whether the webpage that you eventually find is actually any good. A website which reviews other websites is useful for people who are navigating the Internet in search of information. You will find that once you reach a certain level of success then you will have corporate clients prepared to pay you for a professional review of their website. This will involve a formal report featuring recommendations about things which need to be changed.  

Skills needed: You will need to have a good understanding of the way in which search engine optimisation (SEO) and online marketing operates. A background in website design will be important for establishing your credentials as someone with enough experience to criticise the work of others.  You will need excellent communication skills and the ability to explain your recommendation to clients without using confusing technical jargon.  

Business environment and set-up cost:  The main barrier to having international clients will be the language differences. However, this is a service that is in demand all over the world and therefore you could get work from abroad. If you already own a good computer then this business can be set-up for very little cost. However, if you wish to offer very in-depth reviews complete with statistical analysis then you may have to purchase specialist software. Some money will need to be set aside for a marketing budget. The overall start-up cost will range from £1,500 to £5,000 (2,000 - 6,500 EUR, 3,000-10,000 AUD/USD).  

Marketing Techniques:  

• Make sure your website is easy to find by using search engine optimisation (SEO)
• Participate in the pay-per-click schemes of the popular search engines
• Generate reciprocal links with related websites
• Use viral marketing techniques such as ‘Tell a Friend’ buttons to get clients to inform their colleagues about your services
• Use OnlineOffice to set up web-site, blog and online shop to promote your business online

Complimentary business ideas: You could offer consultation relating to online marketing and other promotional activities.  

Notes: You professional review will be (if you are doing your job correctly!) critical in nature. Due to the subjectiveness of this type of work, the client may not necessarily agree with your verdict. It will be essential that you can back up what you are saying with examples. Also, remember not to give the client any information until you receive the full amount for the work you have completed.  

Online examples & resources:  

• Review Centre
• KillerSites
• Webcredible

For previous SME start-up ideas, look through the archive here  

Association management refers to the handling of administrative functions such as bookkeeping and accounting, or more mundane tasks such as taking minutes at meetings or distributing newsletters. These are repetitive tasks which do not take up large amounts of time so if you are well organised it will be possible to have a number of clients without a negative impact on your quality of work.  

Skills needed: The most important skill you will need is the ability to stay extremely well organised when dealing with multiple clients. In addition, it is important that you are able to communicate well with all your clients. Some basic administration skills would be helpful.  

Business environment and set-up cost:  There is not a lot of potential for international business because you will need to work closely with clients. It is likely that only firms in the local area will be your customer. This is an inexpensive business to set-up as no inventory is needed to begin. The overall start-up cost will range from £500 to £5,000 (650 - 6,500 EUR, 1,000-10,000 AUD/USD).  

Marketing Techniques:  

• Make sure your website is easy to find by using search engine optimisation (SEO)
• Participate in the pay-per-click schemes of the popular search engines
• Use strategic banner advertising to target appropriate businesses in your local area
• Become actively involved in mailing lists and discussion groups for business in your local area, remembering to include an eye-catching signature linking to your website
• Use OnlineOffice to set up web-site, blog and online shop to promote your business online

Complimentary business ideas: You could also offer to handle promotional services for your clients such as newsletters. If you can attract advertisers to the newsletter then you will generate extra revenue.  

Notes: To avoid confusion or disputes you will need to have a clear contract with each client detailing the services that you will provide and the timeframe in which they must be completed.  

Online examples & resources:  

• Association Management Resources
• Virtual, Inc
• LoBue & Majdalany Management

For previous SME start-up ideas, look through the archive here  

It can be difficult for a small business to know how to get their press release seen by the right media outlets. This can result in the business wasting valuable money on a press release which nobody ever sees. Therefore, many businesses make use of a press release distributor (otherwise known as a wire service) experienced in handling the media. If you have experience of doing this previously or have many contacts in the media then this business could be right for you.  

Skills needed: You will need to be familiar with the press release procedure and have some kind of background in journalism.  

Business environment and set-up cost:  It is possible that you will have international clients who want to outsource their press release distribution, either because they cannot handle it themselves or because they want to test the market. This business is fairly inexpensive to start if you already own the basic equipment (computer, printer & scanner). The main cost to you will be information you might need to purchase regarding media contacts and media research. This kind of information can be quite costly but it will be a necessary purchase if you do not have a media contact database already. The overall start-up cost will range from £2,500 to £12,500 (3,000 - 15,000 EUR, 5,000-25,000 AUD/USD).  

Marketing Techniques:  

• Make sure your website is easy to find by using search engine optimisation (SEO)
• Participate in the pay-per-click schemes of the popular search engines
• Use viral marketing to get people to let their friends and colleagues know about your website
• Promote your service through your own press release distribution channels
• Use OnlineOffice to set up web-site, blog and online shop to promote your business online

Complimentary business ideas: You could offer a service which tracks the exposure of your press release across the media.  

Notes: The success or failure of this business depends mainly upon the accuracy of your media contact information. You must also be able to target the appropriate contacts for each press release or else you run the risk of annoying them with irrelevant information.  

Online examples & resources:  

• Express Press Release
• PR Web

For previous SME start-up ideas, look through the archive here  

A monogram is an overlapping motif which forms a symbol. If you are good at embroidery then you could sell your monogram designs online. You can place your entire catalogue online so that customers can easily browse it. The majority of your sales will come from corporate clients who want their logo on clothing; therefore if you impress them then you are likely to get repeat business.  

Skills needed: You will need monogramming experience in order to make the products. It will also be important for you to have an eye for selecting high quality clothing suppliers, as poorly made items will reflect badly on your company. It would be helpful if you had basic web publishing skills so that you can update your website easily.  

Business environment and set-up cost:  The items you will be producing are quite lightweight and therefore can be shipped internationally without incurring massive postage costs. If you own all the standard equipment (computer, printer, digital camera & scanner) and specialist embroidery equipment already there is not a huge cost to start this business. You will need to pay for a professionally designed website and online storefront. The overall start-up cost will range from less than £2,050 to £12,500 (2,500 - 15,000 EUR, 4,000-25,000 AUD/USD).  

Marketing Techniques:  

• Make sure your website is easy to find by using search engine optimisation (SEO)
• Participate in the pay-per-click schemes of the popular search engines
• Reciprocate links with marketing agencies due to their strong links with corporate branding
• Set up a mailing list to communicate with your clients in the future
• Have a ‘Featured Product’ page on the site to encourage repeat traffic
• Develop an affiliate network to generate income from referrals
• Use OnlineOffice to set up web-site, blog and online shop to promote your business online

Complimentary business ideas: The other main outlet for your products (other than corporate) is the gift market.  You could offer a gift registry service for special events and add-on services such as gift wrapping.  

Notes: You must be competent at pricing your products well and also able to manufacture whilst working within a tight budget.  

Online examples & resources:  

• STITCH
• Bishop Embroidery
• Three Hip Chicks

For previous SME start-up ideas, look through the archive here  

Here are some more business ideas that cost nothing (or very little) to start-up. 

1. Costume Supplies – If you are talented at sewing then you could design and make costumes to order.
2. Car Detailing – This service includes a thorough car wash (by hand) and waxing.
3. Lighting Design – This business involves choosing and installing the appropriate lights for both residential and commercial customers.
4. Special Events Videos – If you have an expensive high quality video camera and enjoy making home movies, you could earn some extra money by filming corporate events, weddings or gigs in the local area.
5. Pool Cleaning – If you live in an affluent area with a lot of private swimming pools then you could start a pool cleaning business. Many people already own the cleaning equipment but do not have the time to clean them properly.
6. Gift Baskets – Customised gift baskets are an excellent present to give. The profit margin is also quite high for the seller.
7. Herb Garden – You could build and stock a herb garden for clients. They may also want you to come back and maintain it.
8. Knife Sharpening - Many people have blunt knives which they never get round to sharpening. This business could work just through knocking on doors and offering the service
9. Computer Tutor – If you are knowledgeable about computers then you could teach novices.
10. Meal Delivery – This business involves taking food orders (such as freshly made sandwiches from a local deli) and then delivering them.

The traditional art supply store is becoming a rarity as more people start to buy their supplies online. The convenience of the Internet allows artists to easily purchase the supplies they need. This is especially useful for people who require uncommon or niche supplies that would be hard to find in most art shops. All you need to run this type of business is a website with an integrated online shop.  

Skills needed: It will be helpful if you are familiar with the products which you sell so that you can deal with customer enquiries.  

Business environment and set-up cost:  This business has potential for being successful in other countries, especially if you sell a diverse range of products. The cost to start this business is relatively low. You will need to pay for the design and hosting of your website and online shop, plus the initial cost of purchasing an inventory.  The overall start-up cost will range from less than £1,250 to £2,500 (1,500 - 3,000 EUR, 2,500-5,000 AUD/USD).  

Marketing Techniques:  

• Make sure your website is easy to find by using search engine optimisation (SEO)
• Participate in the pay-per-click schemes of the popular search engines
• Become active on the art newsgroups and discussion forums that potential customers are likely to frequent, remembering to include a signature linking to your website
• Have a mailing list which informs your customer base about new additions to your product catalogue
• Regularly write some original content for your website such as art tips in order to attract repeat visits
• Use OnlineOffice to set up web-site, blog and online shop to promote your business online

Complimentary business ideas: You could work in partnership with your artist customers to help them sell their artwork. This could be achieved through listing classified adverts or by running an auction.  

Notes: As with every online shop, it is essential that your inventory is kept up to date. If you are out of stock then your website must display this immediately because it is very unprofessional if a customer orders something you do not have.  

Online examples & resources:  

• London Graphic Centre
• Jerry’s Art Supplies
• Cheap Joe’s Art Stuff

For previous SME start-up ideas, look through the archive here