Small Business, Business Systems & Business Automation

For many people, a business is nothing more than a full-time job they own and control. That is not my idea of a smart business.

For me, a smart business is one where we get to automate as much of the business as possible, by creating and implementing systems that can be easily managed, monitored and then improved upon.

Leverage and automation - not a love of doing the technical work of the business - is what ultimately creates freedom and wealth in business.

The first step in building a business that can run with or without you and deliver you freedom through leverage and automation is to develop the right business mindset. The best business resource I recommend for helping you develop this all important mindset is Michael E. Gerber's classic book, "The E-Myth: Why Most Small Businesses Don't Work And What To Do About It".

If you are a busy person and would prefer to "listen" to the book, narrated by the author himself, then I recommend the audiobook version of "The E-Myth":

E-Myth Audiobook

Regardless of whether you decide to get the paperback or the audiobook version of this book, you should not attempt to build a business without first having read or listened to the "E-Myth". It contains detailed information about the exact steps you need to take to build a business that will work for you, instead of owning a "job" that you will go to work for and remain forever trapped in.

I have used Michael Gerber's blueprint for building automated businesses as a business consultant, coach and trainer for many years now with many clients, and I always recommend that my business clients purchase and read this book in its entirety before we begin working together. This not only ensures that we are "on the same page" as we work through the challenges of starting or growing their businesses, but it also creates a "breakthrough" in their thinking and provides them with the right mindset for all the business development work that they will undertake in the future.

In future posts, I will be making extensive reference to "The E-Myth", so ... if you haven't already got a copy of this book, get it. It will be one of the best business investments you will ever make. I guarantee it!

*** UPDATE ***

I have just written a comprehensive review of the "E-Myth". To read my review, go here: "E-Myth" Review

The current global financial situation is forcing many individuals and businesses to seriously reconsider their strategies for economic survival.

In this article, I want to present several doable options that can help you create long-term financial security in today's uncertain economic climate.

Step 1 - Accept And Embrace Change

The world changed significantly around 20-30 years ago when the World Wide Web started becoming more popular. Since then, although many people migrated and evolved into "Information Age" thinkers, many more unfortunately chose to remain stuck with "Industrial Age" principles and beliefs - a paradigm that was rapidly approaching obsolescence. If you are still clinging to "Industrial" Age concepts like the idea that a good academic education will lead to benefits and job security, then you may be leaning towards experiencing a fate similar to that which befell the giant lizards after the meteor struck.

You may, however, just be stuck somewhere in the middle, wondering what to do next.

Regardless of where you are at, the solution is to accept that the world has indeed changed, then embrace the "Information Age" unconditionally and without making excuses (i.e. too old, too busy, too broke, too late), and start researching new opportunities with a more "entrepreneurial" mindset. I am not necessarily suggesting starting your own business if your core value is to find financial security through employment. There are always opportunities for people who are willing to add value to other businesses and these are normally the last people any employer wants to let go of when times are really tough.

Step 2 - Start An Online Business

Once you embrace the "Information Age" there should be no doubt in your mind that, regardless of whatever else you plan on doing, you should also seriously consider the idea of creating one or more streams of income online.

If you need help getting started, here are 7 ways you could start building an internet-based business:

1) Create A Blog - A "blog" (short for "weblog") is a very easy way to start building a presence online. Essentially, the general formula is this: a) set up a blog, b) start writing regularly about a particular and hopefully profitable niche area of expertise, c) monetize your blog to generate an income stream. There are many great resources you can find online to help you profit as a blogger. So ... get blogging!

2) Become An Affiliate Marketer - Affiliate marketing is very appealing to many people considering starting a business online, because you don't need to own your own product and, in many instances, you don't even need a website. You simply market someone else's products using a specially coded link with your affiliate ID, and every time you make a sale using your affiliate link, you get paid a commission for the sale. Like anything else, becoming successful at affiliate marketing does require a certain amount of work, knowledge and skills, but all the information you need is out there. You can buy e-books, e-courses or join online membership sites to learn how to become better at affiliate marketing and it's not at all costly to get started.

3) Set Up A Web Store - Millions of people and business owners are selling stuff online everyday. If you have something you would like to sell online, consider starting up an e-commerce store with eBay, Etsy.com, Yahoo stores, or a number of other e-commerce solution providers. Some years ago my wife started a little part-time eBay business and, before too long, she was importing products from companies in China and leaving our neighbors wondering why so many courier trucks were driving in and out of our street every single day. Even if you decide to start a traditional business, there are many cost-effective opportunities for expanding online, and e-commerce is definitely an option to consider.

4) Start Up Your Own Social Networking Community - The increasingly popular phenomenon of social networking is creating unprecedented new opportunities for people online. One of the most recent trends is to start your own online community, focusing on a specific area of interest. For example, I recently started an online social networking community site for beaders (www.BeadHuddle.com). This site grew to over 1,000 members in the first six weeks after launching and it is now attracting members from all over the world, as well as craft-related advertisers. If the idea of starting your own community site interests you, I recommend you visit www.SocialBusinessWeb.com and download a free report entitled "How To Profit With Your Own Social Networking Site" that will show you how to get started.

5) Create Your Own Information Products Online - This option is similar to starting your own e-commerce store (e.g. eBay), but the focus here is specifically on authoring digital information products that can be downloaded online. Examples of digital products are e-books (electronic books) and information reports, audio books and podcasts, video training products, membership sites, software and web services, etc. Once again, there are plenty of resources available on how to do this successfully and, if you do create a successful product, it can be an extremely rewarding and profitable venture, since most of your business can be automated using systems, software and outsourced suppliers. I have personally developed a couple of information products over the years that sell regularly online and, since there are no costs associated with processes like shipping and delivery, every sale I make is pretty much 100% profit.

6) Buy A "Ready-Made" Online Business - If the idea of building your own online business seems too overwhelming, there are many online "turn-key" businesses available which you can simply purchase and start operating fairly immediately. Just like buying a regular business, however, you need to exercise due diligence and research the business, the vendors, the market and the opportunity before you hand over your money to anyone promising you an "online money-making machine". Ready-made online businesses can range from simple reseller web sites that include a home page with the sales copy, a zipped file containing the product that you then upload to your own server and a download page where you send customers to after they successfully complete a purchase, to complete online "franchise-like" stores. Often, the cost is surprisingly affordable. For example, in 2005 I purchased an online retail store outlet that sells thousands of downloadable audio book titles from best-selling authors and leading audio-book publishers for $1,000 dollars. Today I make regular sales of audio books from this store (www.audiobookone.net) and the best part of the business is that everything is handled for me by the parent company (e.g. stock selection, product delivery, customer support, etc ...) for a small monthly fee.

7) Become A Web Business Service Provider - If the thought of starting your own business seems too risky for you to consider at the moment, then why not continue working for others, but transfer your services to the online sphere? There are many opportunities for providing much needed services to other companies. One growing trend, for example, is the outsourcing of tasks like creating, managing and updating web content, providing search engine optimization and online marketing services, business training and consulting services, etc. The work can range from doing routine tasks that other businesses would rather outsource to someone else, to providing mentoring and helping others become successful online (this is definitely an option to consider once you become successful online).

Step 3 - Continue Learning, Growing And Improving

The Information Age is constantly and rapidly evolving. This means not only keeping your finger on the pulse of new developments and trends, but also keeping an eye open for new business opportunities for growth, success and expansion. Fortunately, you don't have to do it alone. There is a plethora of social networking groups, online communities and membership sites you can join, that are dedicated to your particular area of interest.

If you've been feeling depressed lately about the current state of the world's economy, then hopefully this article will help you realize that there are many positive and exciting things to be gained if you are willing to embrace change, start researching new opportunities and make a decision to begin taking action steps today to secure your own financial future in the new world that is emerging around you.

For more ideas on ways to start, grow and succeed with you own online business go here: Web Business Building Resources

Need the right information to build an online business? Then visit Portal Feeder - an exclusive online community site for web business builders. Portal Feeder includes powerful site building software, website promotion tools and step-by-step training. For an inside look at Portal Feeder, go here: Portal Feeder Review

The article below is from a series of small business articles, tips, videos and information about protecting your ideas using intellectual property protection mechanisms ...

The concept of intellectual property is important to grasp in today's modern global economy, especially if you are a new business owner, a product manufacturer, a composer, inventor, designer, or software developer hoping to succeed commercially and make money from your creations, products, inventions, designs, or business information.

Trademarking, patenting and copyrighting are intellectual property protection terms whose definitions are too often confused by many people. If you are a new business owner, a product creator, a book writer, composer or inventor, it pays to know the different types of intellectual property protection, what protection mechanisms are available for which category, and how these forms of intellectual protection compare with each other.

Understanding the difference between these concepts helps you answer questions such as how different intellectual properties benefit businesses, the importance of trademarks registration, trademarking apparel, registering a trademark yourself, which type of patent should you apply for, what the procedures are for applying for a trademark, service mark, or patent, how to protect trade secrets, how to enforce copyrights, what are mask works, what form of protection do you use if you have developed a software application and much more.

To understand the importance of intellectual property a little better, let's take a look at a business owner.

After carefully examining the market, a business owner discovers a need for a product or service that will solve a problem or make life a little easier for others. The person with a great business idea then comes to the realization that he or she can deliver a viable and affordable solution to satisfy market demand. Not only that, but they can also implement systems for delivering products or services better and faster than any other business can.

After raising funds for their startup business using various means, the business owner commences building their business and works hard to develop a reputation for delivering quality products and high levels of service. By developing unique methods of creating and delivering their product or service, the business owner has also created potentially valuable "intellectual property".

How can the business owner use this intellectual property to their benefit? How can they transform their ideas into wealth? How can they prevent their business ideas and methods from being appropriated by others?

These are all questions that need to be carefully considered. In the application of their ideas and processes, the business owner has created something "tangible", something different, and something that has the potential to be quite valuable. They have intellectual property, and just like any other form of property, intellectual property needs to be protected and employed wisely.

The term "intellectual property" covers a wide gamut of intangible assets. Most people are familiar with intellectual property terms such as trademarks, copyrights and patents. Intellectual property, however, also extends to things such as trade dress, business goodwill and reputation, the collective knowledge and expertise of a company or that of individual employees, data, know-how and other information related to areas of technology or business, such as management and operations, marketing and sales methods, etc ...

In the modern economy, owners of small and emerging new businesses need to know not only how to develop, maintain and protect their intellectual property rights, but also how to avoid infringing on the intellectual property rights of others.

One area in particular that you need to pay special attention to, especially if your enterprise is becoming successful, is the area of competition. To survive in business, business owners need to be able to recognize and successfully handle competitive threats that can take over and beat their marketing and production processes, potentially eliminating them from the market arena.

One form of competitive threat are large competitors with market power. These are typically large organizations that have extensive resources and can outperform your business in areas like marketing, research and development, and sales force. They may not necessarily infringe on your intellectual property rights, but they can certainly analyze and exploit any areas of weakness your business has when it comes to maintaining those rights. By having deep pockets, resources and efficiencies, they can quickly gain an understanding of how and why a competitor has certain advantages, then figure out strategies for crushing and eliminating their competition from the marketplace. By developing a solid understanding of intellectual property and how to protect yourself, small business owners can compete in the marketplace with these giants and succeed.

For more information on the importance of trademarking, visit: Trademarking Ideas

Despite the fact that many companies provide excellent training and business systems, I've often noticed that many of their "trainees" (i.e. employees, members, distributors, etc.) delay, neglect, and sometimes even fail to start using the system, despite all the training they have been given.

This commonly happens in businesses where people have the opportunity to be their own bosses (such as network marketing and other self-starting business opportunities). Even though they have been given adequate training information and materials (and they know what needs to be done to achieve success), they still fail to take immediate action towards their success.

Are they just lazy, or unmotivated?

No.

So, why don't people take action and get started straight away?

To find out, click on the link below ...

Business Systems