Operator Error Is Why Most Businesses Fail By: Tim-Knox | - Q: I am thinking about starting my own business, but statistics show that most new businesses fail. Why do you think most businesses fail?
A: This is the column that probably gets me kicked out of the entrepreneurial chapter of the Priory of Scion. I look silly in those long robes anyway, so here goes.
A thousand apologies to my entrepreneurial brothers and sisters, but. I think the more important question is: do businesses fail or does the entrepreneur in charge ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
11 Ways To Find Products To Sell On Ebay By: Tim-Knox | - I was part of an eBay Roundtable discussion recently with six other experts and we all agreed that the number one question most new (and even old) eBay sellers ask is:
"Where do I find things to sell on eBay??"
To help answer that question I have compiled 11 ways that anyone can use to find products to sell on eBay. This is by no means a definitive list and depending on your situation, some of the ways may not apply to you. However, if you're a beginner and don't ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, product, Money, eBay, Tim Knox
The Business Failed, But Did You? By: Tim-Knox | - Q: After years of dreaming about starting my own business, I finally took the plunge a little over a year ago. To say the least, my dream quickly became a nightmare. The business didn't do nearly as well as I had hoped. I ran out of money within six months and had to take out a second mortgage on my house just to keep things going. I have now closed the business and am left with a pile of bills that will probably put me in personal bankruptcy. I don't mean to take it out on you, but instead of t ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Swot Analysis Is No Magic 8 Ball By: Tim-Knox | - Q: A key investor in my business has suggested that I hire a consultant to do a SWOT Analysis to help plan for the future. I try not to argue with my investors, but I'm not so sure I need to have this done. What do you think?
-- Laurie B.
A: Laurie, before you call in the SWOT team to deal with this investor (sorry, couldn't resist that one), let me tell you exactly what a SWOT Analysis is and how it can not only help you plan for the future, but get a gauge of how your bus ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Beware Of Spam Withdrawals By: Tim-Knox | - Q: I am so sick of all the spam that is sent to my business email address. I spend an hour every morning just trying to sort out the good email from the bad. I know I could just delete it all, but I'm afraid I'll accidentally delete email that might be important to my business. Short of unplugging my computer, what's the best solution for dealing with spam?
Choosing A Business That's Right For You By: Tim-Knox | - Q: I really want to start my own business, but I have no idea what business would be best suited for me. I'm also eager to get started, but I don't want to pick the wrong business just because I'm impatient. How should I go about deciding what business would be best for me?
-- Samuel J.
A: Before I answer your question, Samuel, I want you to reach around and pat yourself on the back for not letting your eagerness push you into making a wrong decision. All too often we entr ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Business Lessons Learned At The Mall By: Tim-Knox | - Normally in this column I dispense highly-intelligent small business advice in response to thought-provoking questions submitted by future and fellow entrepreneurs. This week, however, I have a couple of questions for myself, one of which makes me wonder how truly intelligent I really am.
Q: Dear Me, I recently took my teenage daughter shopping at the mall. The experience raised two questions. (1) What business lessons might be learned from such a foray into teen commerce; and (2) ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Achievements Outweigh Education And Experience By: Tim-Knox | - Q: I started my business about a year ago and everything is going fine. We're growing and making a profit, but the stress of running the business is really starting to get to me. I spend more time worrying than working. Sometimes the pressure is almost more than I can take. I'm starting to think that I'm not cut out to run my own business. Do you have any advice that might help me decide what to do?
-- Steven S.
If It Was Easy Everybody Would Do It By: Tim-Knox | - Q: I started my business about a year ago and everything is going fine. We're growing and making a profit, but the stress of running the business is really starting to get to me. I spend more time worrying than working. Sometimes the pressure is almost more than I can take. I'm starting to think that I'm not cut out to run my own business. Do you have any advice that might help me decide what to do?
-- Steven S.
Navigating The Internet Sales Tax Laws By: Tim-Knox | - Q: Do I have to charge sales tax on orders placed on my Web site? What if I have international customers?
A: Online companies with a physical presence, or nexus, in a state are required to collect and report taxes on sales made to customers living within that same state. For example, if your online business is based in California, you must collect and report sales tax derived from fellow Californians making purchases on your site.
Sba's 8(a) Program Can Help Some Companies Compete By: Tim-Knox | - Q: A friend told me that as a woman of Native American descent I might be eligible for a special SBA program that will help me start a small business. He said I could compete for government contracts through this program. Can you tell me what SBA program he's referring to?
-- Clara P.
A: Your friend is probably referring to the Small Business Administration's (SBA) 8(a) Business Development (BD) Program. The 8(a) Program (named after the section of the Small Business Act fr ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Starting Your Business By The Book By: Tim-Knox | - I've gotten several questions recently about the legalities of starting a business. So, this week I thought I would address a few of the more common legal issues most new businesses face. But first, let's get the mandatory legal disclaimer out of the way: the advice dispensed by this columnist is probably no better or worse than the advice dispensed by other columnists. Do not take the following advice as gospel or bet the future of your business on any advice given herein by said columnist. Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
The Joy And Hazards Of Finding Your First Office By: Tim-Knox | - Q: I have outgrown my home office and need to find office space for me and two part time employees. I am really excited about opening my first official office, but never having rented commercial space before I don't know anything about how this process works. What are some things I should consider before signing a lease? I'm really eager to get started!
-- Jay P.
Turnkey Dropship Websites Save You Time, Trouble And Money By: Tim-Knox | - Q: I would like to start an online dropshipping business, but I have no idea how to get started. I would like to specialize in giftware and accessories. Where do I find products and how do I get set up a website without any technical knowledge?
A: In the good old days of the Internet, i.e. last year, it took a considerable amount of effort to launch an ecommerce website, especially one that offered dropship merchandise.
Website Design Considerations By: Tim-Knox | - Q: Should I build and maintain my business Web site myself or pay someone else to do the work for me?
-- Wesley L.
A: When you say, pay someone else to do the work for you, Wesley, I am going to assume that you are talking about hiring a professional Web site designer to do the work and not your next-door neighbor's teenage son. If my assumption is correct, then read on. If not, go ahead and surf on over to Dilbert.com. You will get no good out of the advice I'm about to g ... Tags:success, progress, success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Writing The Book On Great Customer Service By: Tim-Knox | - Q: One of the big chain bookstores recently opened up near my small book store. Already I can see my business starting to decline. Is there anything I can do to compete with the bigger store or should I just accept the inevitable?
-- Peter Q.
A: A wise man once said, "The inevitable is never a sure thing."
Franchises Offer Shortcuts, But Not Control By: Tim-Knox | - Q: I will be retiring this year at age 60 and intend to fulfill my lifelong dream of owning my own business. I'm too old to start from scratch, so I'm looking at several franchise opportunities, including fast food, auto parts, and an accounting service. What should I consider before choosing one?
Anthony R.
A: Congratulations on the retirement, Anthony, and on the new business venture. As the old adage goes, when one door closes, a drive-through window often opens (or some ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
The Great American Customer Service Unawareness Campaign By: Tim-Knox | - Q: I'm so sick of you so-called business experts always saying the customer is always right. This is my business, not the customer's, so I'm the one who's always right. Sure, they can have an opinion, but in the end it's up to me to decide who's right and who's not. And if the customer doesn't like it they can take their business elsewhere. What do you say to that, Mr. Business Expert?
-- Paul W.
Is The Ebay Fee Increase Actually Good For Business? By: Tim-Knox | - Much of my email from readers this month concerned the recent announcement from eBay that it will increase many seller fees on February 18, 2005. Since many business people use eBay's online store system as their primary ecommerce point of sale, it's no surprise that most of the emails I received were of the angry variety.
Is Selling On Ebay Just A Hobby Or A Real Business? By: Tim-Knox | - Q: I made extra money selling things on eBay last year. These were items I picked up at yardsales mostly. My husband says I am responsible for paying income tax on the money I made, but I disagree. This is just my hobby, not a business. What do you think?
-- Gladys A.
A: With so many people selling on eBay these days this is a question I get all the time. To many eBay sellers the thought of running an actual business is about as appealing as getting negative feedback, so t ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Does Your Website Induce Seizures? By: Tim-Knox | - Q: We promote our web site in all our ad campaigns, but according to my website statistics program, we are getting very few visitors who click past the first page. The site has a cool Flash intro page that the designer said would impress visitors, but it doesn't seem to be working. What can we do to get people to spend more time on the site?
-- Christopher O.
When It Comes To Ebay, Don't Follow The Herd By: Tim-Knox | - Q: I want to start an online business. Since I don't know anything about ecommerce and building websites and such, I'm thinking about starting out selling products on eBay, then pay someone to build a website for me once the money starts coming in. The big question is: what is the hot product to sell on eBay to make money fast?
Investing In Son's Business Could Cause A Real Family Feud By: Tim-Knox | - Q: My youngest son wants to borrow $5,000 to start his own business. My wife is afraid to tell him no. She thinks we should just give him the money and not expect anything in return. I disagree. He doesn't have a very good track record with money, so I'm a little worried that my investment will be lost. Should I loan him the money and hope for the best or just tell him no and hope he doesn't get too upset?
Perceived Value Is In The Eye Of The Beholder By: Tim-Knox | - Q: My partner and I are having a hard time coming up with what we feel is the perfect price for our new product. We know what competing products sell for, but we don't know if it's better to price our product cheaper than theirs or charge more based on what we think is a superior product. What is the best way to determine the perfect price and what is the rule of thumb for raising prices later on?
-- Jennifer L.
The Business Autopsy: A Fact Of Life By: Tim-Knox | - Last week we discussed the importance of performing an autopsy on a dead business. No, I haven't been watching too many of those wonderfully graphic, TV forensic investigation shows. The reason I recommend you do a business autopsy is to uncover the exact reasons why the business died. This is valuable information that can not only heal feelings of personal failure, but also better prepare you for the pitfalls of business should you ever take the plunge again.
A: Shame on you, Norris. There is no such thing as a dumb business question. OK, that's not exactly true. There are dumb business questions and I do get quite a few of them. Not through this column, of course. People intelligent enough to actually use a computer and surf the World Wide Web would never submit dumb questions now, would they. OK, that's a lie, too. I've gotten a few head ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
What's The Customer Service Buzz About Your Business? By: Tim-Knox | - If you're a regular reader of this column you know that my number one pet peeve is bad customer service. Nothing chaps my backside more than paying hard-earned money for a product or service only to have the provider of said product or service become apathetic, obnoxious or just downright rude after the transactional smoke has cleared.
When It Comes To An Office Lease, It's All Fine Print By: Tim-Knox | - Last week we looked at a few of the things you should consider before leasing that first office or storefront for your business. To recap, you should not only consider the old standard "location, location, location," but also consider things like sufficient parking, the number of employees who will be working onsite, and future growth projections. I stressed that it was important not to get caught up in the moment. You should take your time to find the space best suited for your business for the ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Entrepreneurs Just Get Better With Age By: Tim-Knox | - Q: I'm thinking about starting a business after I retire next month. I'll be 65. Am I too old to start a business?
-- Milton A.
A: Milton, congratulations on your pending retirement. I find it admirable that after many years of hard work you are thinking about starting a business. While most men your age would be content to sit on the porch and watch the world go by, you are considering a ride on the entrepreneurial roller coaster. You're certainly tall enough to r ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
How To Handle Customer Billing Snafus By: Tim-Knox | - Q: I just discovered that for the past six months I have been billing a client half of what I should have been. Should I just include the total of the past due balance on his next bill or contact him first to let him know that it's coming? This client has been difficult in the past, so I'd rather not deal with him until I absolutely have to. My partner, on the other hand, thinks we should call the client and let him know what's going on before sending the bill. What do you think?
-- Louis ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
The Secrets Of Starting A Successful Ebay Business By: Tim-Knox | - Q: I hear so much about people who started selling on eBay and eventually turned it into their full time business. Is it really possible to build a profitable business just selling junk on eBay?
-- Alex K.
A: If Fred Sanford were alive today, Alex, I'm sure he'd be earning his ripple money by selling quality junk on eBay. While it's also true that one man's junk is another man's treasure (I have a garage full of treasure to prove this point), your chances of building a pro ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
An E-course is the modern day equivalent of the old correspondence course concept. The difference is that instead of taking the course by mail, you do it online or by email.
E-courses are one of the best ways to continue your education, especially if you are interested in making money online.
Do You Have What It Taks To Be An Entrepreneur By: Tim-Knox | - Q: I am interested in starting my own business. I have a business degree and lots of experience in my chosen field, but I don't know if I have the necessary skills to really make it on my own. Any advice?
Marie C.
A: You've hit the nail on the head, Marie, because when you're an entrepreneur it's truly up to you to make it on your own. Sure, you may have investors and advisors and employees and friends and family helping you climb the ladder, but in the end you're the one w ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Taxing Your Ebay Profits By: Tim-Knox | - As a small business person-slash-advice columnist I dread the first quarter of the new year. Not because in my mind my own business fortunes start at zero again every January or because I have already dismissed every New Year's resolution I made when the clock rang out the New Year.
No, the reason I dread the first quarter of the new year is that my email box floods with questions about business taxes and the IRS, my two least favorite subjects on earth. It's not that I am opposed ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Credit Cards, Merchant Accounts, And Your Bottomline By: Tim-Knox | - Q: I'm opening a gift shop and want to be able to accept credit cards. I talked to the branch manager at my bank, but he didn't seem to know much about how it all worked. He did say that I would need something called "a merchant account" and something else called "a credit card processor." Beyond that he seemed as clueless as I am. I'm thinking about going to another bank. Can you explain how that all works?
-- Mary Ann G.
Do You Pay Taxes On Ebay Income? By: Tim-Knox | - Q: I read your last column about paying income tax on eBay sales if you are doing it as a business, but as someone who only sells on eBay occasionally I'm still confused if the IRS rules apply to me. Can you tell me more?
-- Norman L.
A: Last week's column on whether you were required to report income earned from eBay sales to the IRS sparked a number of additional questions and comments from eBay sellers who were hoping that I could somehow validate that their eBay activi ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Business Is No Guarantee Of Riches By: Tim-Knox | - Q: In a recent column you made the point that the customer is always right, which I agree with. However, in the same column you also said that it is sometimes necessary give problem customers the boot. If the customer is always right, at what point do you think they become so problematic that you should stop doing business with them?
-- Gary M.
Is Your Website Credit Card Friendly? By: Tim-Knox | - In my last column I discussed the process of credit card enabling your brick-and-mortar business. I pointed out that research has shown that accepting credit cards can help increase revenue and enhance cash flow. I also pointed out that you may have to look beyond your local bank for help in getting things set up. This week we will look at setting up an online payment system for your business website. If you think hooking up a brick-and-mortar location with a credit card system stymies most bank ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Build A High Profit Business With Online Affiliate Programs By: Tim-Knox | - Q: I am considering starting an ebusiness using affiliate programs, but there is so much hype out there I can't figure out which programs would work best for me. Everybody claims their program is best. I'd really appreciate some guidance here.
A: Affiliate programs can be an excellent way to start an ebusiness. Before we dive into the specifics, let me explain how an affiliate program works.
Cut Start-up Costs By Using A Dropshipper By: Tim-Knox | - Q: I'm starting an online specialty shop that sells gifts and home accessories. I want to be able to have items dropshipped to customers through my site. I already have a Web site and a domain reserved, but I don't have a lot of money to get this going. Can you offer any insight?
A: Setting up relationships with companies who will ship merchandise directly to your customers for you-- dropshippers, as they're called
--are an excellent way to start your e-business and, if d ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Teaching Large Companies To Think Like The Little Guys By: Tim-Knox | - Q: I am an executive at a large company and in our industry we are seeing a trend wherein smaller companies are gaining market share at an alarming rate. Our CEO believes the reason for this is that smaller companies are more prone to innovation and more entrepreneurial than larger companies. He has instructed me to form a committee to study this trend and make recommendations on how we should deal with it. I'm an executive, not an entrepreneur. Any advice would be very much appreciated.
... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Opportunity Does Not Knock By: Tim-Knox | - Q: I'm graduating this year with a degree in business and would like to start my own business rather than get a corporate job. I have a few business ideas, but none of them really gets me excited. Should I just put my business plans on hold and get a job until the right opportunity comes along?
-- Carlton M.
A: Congratulations on the impending degree, Carlton. Never having attended a higher institution of learning myself, I have great respect for anyone who can withstand fo ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
Veteran Entrepreneurs Are Growing In Ranks By: Tim-Knox | - Q: I own a small decorating business and I'll be the first to admit that I don't know anything about taxes or retirement plans. I'd like to set up a 401(k) or an IRA or some other kind of retirement plan for me and my three employees. What are the various retirement plan options available for a small business owner and in your opinion, which would work best for me?
-- Wanda S.
An Entrepreneur And A Life To Be Remembered By: Tim-Knox | - I was reminded of my own mortality today. I guess you can say I had a near death experience, though the death I experienced was not my own.
No, I was never in any danger, nor was my life ever threatened. In fact, I was sitting in the air conditioned comfort of my home office sipping a nice cup of coffee and watching the dogs run around the yard when the moment came.
The sun was shining. The birds were chirping. Life was going along just fine.
Are You Mentor Material? By: Tim-Knox | - Q: I've been approached by a young man who asked if I would be his mentor. I'm flattered by his interest, but I'm not sure I'm cut out to be a mentor. In your opinion what makes a good mentor?
- Kenneth P.
The mentor/mentee relationship is very much like that of a parent and child. The younger, less experienced child mentee will look to you, the older, more experienced parent mentor, for guidance, wisdom and advice. They will come to you with questions and expect you to hav ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
How To Boost Your Bottom Line With Just Two Little Words By: Tim-Knox | - I hate to sound like one of those cheesy get-rich-quick commercials, but this week I am going to let you in on a little secret that is so powerful that it will immediately change the way you do business.
In fact, this little secret is so powerful that you will be amazed at its immediate effect on you, your employees, and your bottom line. This little secret is guaranteed to improve your relationship with current customers and if used wisely, can get you lots of new customers with ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
What Makes A Good Leader? Ask Uncle Sam By: Tim-Knox | - What do the major generals who are leading the war efforts in Iraq have in common with executives and entrepreneurs who are conducting business back home? When it comes to eadership, the answer is probably a lot more than you think.
In a recent study conducted by the Army War College, subordinates of the major generals who are leading the war efforts in Iraq were asked to rate the performance of their superiors.
How To Make Big Money On Ebay Selling Other People's Stuff By: Tim-Knox | - Since eBay launched the Trading Assistant program last year, over 50,000 eBay sellers have registered as Trading Assistants to help other people sell their goods on eBay.
As a result, eBay consignment businesses have sprung up all over the United States and are now starting to appear in Germany and the UK.
Dropship Your Way To Ebay Success By: Tim-Knox | - Dropshipping is a topic that I first addressed in my column way back in April, 2003, which is decades ago in Internet years. But with the continuing growth of eBay and it's positioning of itself as a viable way for anyone looking to launch an ebusiness, the topic of dropshipping is now hotter than ever. It is also now more misunderstood than ever.
Phishing has a much more sinister connotation. The official Webopedia definition of "phishing" is as follows: The act of sending an e-mail to a user falsely claiming to be an established legitimate enterprise in an attempt to scam the user into surrendering private information that will be used for identity theft. The e-mail directs the user to vi ... Tags:success, hardwork, small business, experience, business, email, e-mail, policy, professional, impression, contract, money, Tim Knox
