Political preferences aside, Mitt Romney’s encouragement to young entrepreneurs is something that some of you may have contemplated. When you’re ready to start a small business, but need funding to get it off the ground, should you borrow the money from your parents?

Surely, they’re likely to be flexible with you on payment terms, and will give you all the emotional support you need when starting a new endeavor, but borrowing money from your parents can be both a blessing and a curse.

Let’s take a look at the pros and cons:

Benefits:

• They may give you more lenient terms for payback, including lower interest rates and waived penalties. This is one of the more significant reasons to borrow money from your parents vs. obtaining an inflexible bank loan. Even if this is the case, you’ll want to approach the agreement with a signed promissory note (that’s been looked over by a lawyer), and will need to establish a payback schedule that you can adhere to. Just because you don’t have late fees does not mean you should take advantage of your parents’ generous loan.
• Your parents, whether they’ve invested or not, want to see you succeed. When you borrow from them, their money is on the line, and they’ll likely do everything within their means to help you reach your goals – making introductions to their network, acting as your extended sales force, or being beta testers for your product.
• Since your parents already know and trust you, they’re likely to have more faith in your business idea and may not put you through the business plan wringer when deciding whether or not to lend to you. This doesn’t mean you should forego this important step when planning to start a business, but it may make it easier on you to know that you’re supported and your idea has merit.

Drawbacks:

• We’re still crawling out of an economic recession, and they likely don’t have much money to part with, if any. Through the last few years, many older generations lost a ton of money, and have had to rebuild their wealth while postponing retirement.  If your parents are in this position, saving for retirement should be their priority over helping you. Remember that, as they age, they should also have reserves for health care and possibly extended home care, neither of which are inexpensive.
• Borrowing money from Mom and Dad could change your relationship with them. It’s one thing to accept a monetary gift, but quite another to explicitly ask for a large sum of money to start a business. When you borrow money, they’ll likely have questions about their involvement in your business, including what they will or won’t have a say in when it comes to how you spend the money. Working with your parents on a personal, familial level is quite different from working with them professionally. You risk having heated disagreements and ongoing tension if there’s money between you.
• If you are unsuccessful, you’ve just wasted your parents’ hard-earned money. Banks hedge their bets with small businesses, and can help you to determine how much money you truly need for start-up costs. It’s likely your parents have neither the insight nor the resources to compare your likelihood of success with other small businesses like yours. They may also feel obligated to make an investment based on your personal relationship, even if they can’t afford to lose it.

Regardless of where your funding comes from, it’s important that you make smart business decisions, like these recommended on WiseBread.com. Otherwise, it doesn’t matter where your money came from … parents or otherwise.

Are you a believer that money and family don’t mix? Or have you successfully borrowed money from your parents to start your business?

Photo source: merchantcircle.com

Our smartphones do just about everything these days, but sometimes you still have to make a plain old phone call on them. And added on top of texting and data plans, voice minutes can get expensive. That’s where VoIP apps come in.

Because of today’s higher data speeds, VoIP is a legitimate calling option when you want to save money on calls from your Android, iPhone, or iPad. These apps work best with 3G connections or better, and many of them act as a great backup option for your business phone system.

A word of warning, however: if you frequently have dropped calls, you may have problems with VoIP too. When this is the case, you can still use your VoIP apps with WiFi to do away with that problem. Here are 10 of today’s coolest VoIP apps, listed alphabetically.

1. Beejive. Beejive is a top mobile chat application that not only supports VoIP calls and multiple chat clients, but plenty of other useful tools. This iPhone app uses transparent overlay text so you can see your conversation and not lose track of your message. It also has push notification for up to seven days.

2. Fring. Fring is a straightforward competitor to Skype, but instead of offering unlimited call plans, it charges on a per-minute basis at very low rates. Fring can also be used as a SIP client, which can be used for initiating, modifying, or terminating two-party or multi-party sessions. Fring is a solid choice in today’s VoIP apps.

3. iCall. iCall is a favorite app for making VoIP calls, allowing free VoIP calling in the United States and Canada. With iCall you get push notifications when you receive a call. This app also offers inexpensive international calls, and users have the choice of using a paid service that skips a 30-second ad at the beginning of a call.

4. JaJah. JaJah is a simple download that gives you access to services that integrate easily with your phone book. If you want to make a call, you log in and select who you’re calling. You can call JaJah users as well as Facebook users for free. Other calls are billed at low rates regardless of location.

5. Line2. The Line2 app has unlimited SMS and offers a free 30-day trial (and bills at $9.95 per month afterward). Line2 adds a second number to your iPhone, which is great if you want a dedicated number for work. You can cancel without penalty and the service is billed to your credit card rather than your iTunes account.

6. Nimbuzz. Nimbuzz is yet another all-inclusive app. It supports several chat clients and VoIP options. You can use free calling, file sharing, and messaging on your smart phone, browser, or desktop, and you can import your friends from Facebook, Windows Live, Yahoo, and GoogleTalk.

7. Skype. Skype is basically synonymous with VoIP. The quality is great, it’s easy to use, and it’s cheap. Skype’s iOS app does everything that Skype on your laptop or desktop does, such as making calls over WiFi or 3G. It also offers instant messaging and video chat. Calls to other Skype users are free, but you can add the inexpensive SkypeOut plan for flat-rate calls to anyone in your country who doesn’t use Skype.

8. Talkatone. Talkatone uses Gmail VoIP to let you place free calls on your iPhone, iPad, or iPod Touch as long as you have a Google Voice account. Users find it easy to set up. You simply enter your Google Voice information, set your Google Voice line to forward to Google Chat, and you’re done.

9. Truphone. Truphone offers both a pay-as-you-go plan and an unlimited plan. If you make lots of international calls from the U.S., the unlimited plan includes calls to 35 destinations at no charge. You also get low-cost text messages, free calling to Skype and GoogleTalk, free IM, and free Voicemail.

10. Viber. Viber is a popular app that does not require you to create an account, hand over your credit card information, or even create a username. However, to call someone free, they also need to have Viber. Your Viber minutes are only used if you call someone who doesn’t have Viber. Viber is ad-free, and you can call anyone in the world who has the same app.

Image Link:

http://cdn3.digitaltrends.com/wp-content/uploads/2011/06/ipad-facebook-large.jpg

How do you go from creative idea to actual sales of your clothing? Whether you’re designing apparel for children, babies, men, teenage girls, or puppies, here’s how to start a clothing line and get your business up and running:

Set the Foundation

A lot of your initial heavy lifting happens during this phase. When you’re setting the foundation for your business, you’re doing a lot of planning and research. This means obtaining the licenses you need to conduct business and developing the business plan that you will use as an outline for your company’s goals.

You’ll need to do a lot of market research in order to develop a comprehensive business plan. Take a look at your target market and research your competition. What has worked for them, and what hasn’t? You’ll need to be able to describe in detail who your key customer might be and what they might look like. What other brands do they prefer and where do they shop? It’s highly recommended that you get a retail job at a store that caters to your desired customer. This will help you understand what they are buying, what they look for in clothing, and the prices they expect to spend.

This is also the time where you brainstorm your branding and logo – it’s the way many consumers will identify your designs as they become familiar with your clothing line.

What will it cost?

There are a lot of pricing and financial variables to consider when you start a clothing line business. Some people can self-fund a few thousand dollars in order to open their clothing line, but other experts might believe you need hundreds of thousands to make an impact. If you can’t fund the line yourself, your best bet for funding is likely a small business loan. Your business plan should define how much up-front costs you’ll need and for what purposes. When it comes to building a successful clothing line, you’ll have to spend a fair amount of money to make a dent:

• Supplies: How much money will you need for up-front fabrics and materials?
• Production: Will you need to pay a manufacturer or independent seamstresses to make your collection a reality?
• Marketing: What will marketing and advertising cost you?

You also need to consider how to price your garments. Once you start selling, at what point will you start making money that you can put back into the business? You should expect to spend a significant portion of your money on supplies and production. It’s better to have more inventory to sell or give away to establish your brand than it is to spend all your money on ads.

Fabrics & Supplies

For people who want to start a clothing line, the fun part is designing and dreaming up the clothes and aesthetic. But, when it comes to running a business, this is only a small portion of the process. To understand how much fabric you’ll need, make sketches for 10-20 pieces that you can realistically go to market with. Make sure to choose pieces that show off your design chops. Get feedback from friends, family, and if possible, professionals in the fashion industry so that you can get a good idea of which garments should be part of your first collection.

From here, you can estimate how much fabric you’ll need, and don’t forget buttons, zippers, trim, and other materials. If you haven’t already, it’s important for you to understand production terminology so you can properly identify the fabric you wish to use, and communicate it’s construction and content.

Manufacturing

To keep costs low, you might consider sewing all of the pieces yourself. But be honest with yourself about how long you can sustain doing that. You can certainly make the samples, but you may want to research sewing contractors to help build the collection in a reasonable amount of time.

If you want to go straight to a manufacturer, look into the National Register of Apparel Manufacturers to find the right manufacturer for your line. Bring them sketches of your clothing and, if possible, a sample or prototype of each garment. As you interview manufacturers, be sure to ask about minimum quantities, turnaround time, their policies on design changes, etc. Get everything in writing, and be sure to get samples of your designs from them before you sign off on any mass-quantity production.

Selling Tools

In fashion, selling isn’t all about exchanging one garment for money. You have to look the part, which means learning the lingo and having all the necessary tools to process orders. A line sheet shows pictorial illustrations of your entire line, and includes important information on fabric, wholesale/retail prices, contact information, and order deadlines. This is a document that you would provide a buyer to give them a full run-down of what your collection includes. Your line sheet should be accompanied with a swatch card and order form. It’s important to have your line organized with this information so that when you approach a buyer, you look organized and professional.

Also remember that collections are designed by season. Most department stores buy at least two seasons in advance, while smaller stores buy 1-2 seasons ahead. You’ll need to time your design, production, and delivery accordingly.

Sales

Once you have your selling tools situated, you need to know where and how to approach a buyer. You can start your efforts off at the grassroots level, and sell at festivals, markets, and to friends and family. You can also sell your garments online, using various online marketing efforts to spread the word and take orders. If you’re less than web-savvy, sites like Etsy can help you set up an online storefront without having to create your own website from scratch.

From there, try to get appointments with local boutique stores by introducing yourself in person or e-mailing the store owner. These stores are small enough that they won’t require large quantities of your product, so you can likely satisfy their orders quickly with a manufacturer or with a network of independent seamstresses. If you have your eyes set for the stars, and dream of your name plastered all over Neiman Marcus, you’ll need a different approach.

Kathleen Fasanella at Fashion Incubator gives some tough love when it comes to selling to department stores. While it’s not impossible to get your line delivered to these large retailers, it will require a lot of money:

Selling to big box stores requires a whole other level in both operational and computing complexity. Both require commitments towards increased internal operational efficiencies and considerable financial investment in the necessary tracking and monitoring systems.

Getting in touch with a department store buyer can be a challenge. You might consider partnering with an individual sales rep who has established relationships with buyers at the department stores or large retailers you want to target.

Photo source: fashionkings.net, hideyourarms.com

Call centers are centralized offices that send and receive a large volume of calls. They are used for dispatching technicians, receiving customer support calls, or fielding calls asking for technical help. Some call centers primarily place outgoing calls. Examples of this type of call center include debt collection companies and telemarketing agencies. Typically a call center has a large, open or partially-cubicled workspace for call center workers, who are each provided with a computer and a telephone headset.

What Industries Use Call Centers Most?

When most people think of call centers, they think of the places they call when their computer malfunctions or when they find a problem on their bank statement. Industries with the heaviest reliance on call centers include:

• E-commerce
• Computer hardware and software
• Transportation and travel booking
• Finance, banking, and credit
• Medical and pharmaceuticals

With call center technology firmly in place and an expected part of the customer experience, today’s trends in call center technology are starting to focus more on efficiency. In other words, call centers want to reduce the cost per contact for each customer contact. That’s where VoIP (Voice Over Internet Protocol) technology comes in.

How VoIP Is Transforming Call Centers

VoIP allows the creation and expansion of virtual call centers, which are more flexible than traditional PBX-based call centers. The traditional call center is constrained by location and floor space, but VoIP helps enable distributed call centers and remote agents. This helps cut down — or even eliminate — physical floor space requirements, as well as back-up power, break rooms, and infrastructure associated with traditional call centers. But one of the main breakthroughs that VoIP-based call centers provide is greater flexibility in hourly staffing, which can cut down drastically on the costs associated with idle labor.

VoIP’s Effect on Call Center Infrastructure

VoIP call center solutions reduce infrastructure complexity by allowing more virtualization. This means that businesses can get a full PBX-style call center solution with as little as one server. Businesses can use VoIP to let call agents work at home, or they can add smaller call centers in dispersed locations. At-home agents and dispersed call centers save on real estate costs and are “greener” because they cut down on worker transportation needs.

VoIP and Device Flexibility

Many VoIP systems support a nearly-unlimited number of devices. Just about any accessory with a speaker and microphone can be used as a phone, and many VoIP systems allow administrators to add and configure smart phones and cell phones using simple smart phone apps that can be used anywhere. What’s more, many VoIP systems are interoperable with existing PBX systems, and this makes it easy for businesses to test drive VoIP systems under a trial license before committing.

Freedom from Local Constraints

Because VoIP can connect to dial-up networks and make phone calls from just about anywhere on the globe, they allow processes that are difficult or impossible for traditional call centers. For example, if a company has three call centers in three different time zones, a VoIP system allows creation of a routing plan that follows local time zones and makes use of employee time more efficient. And extending an existing call center network no longer requires the addition of PBX infrastructure, just adding VoIP to agents in a new location.

Integration with Data Systems

Since VoIP calls are digital, they can be easily hooked up to the call center’s data handling system. It’s easy to annotate, store, and route calls with VoIP, and VoIP systems can help coordinate calls with existing data. For example, an inbound call can trigger a pop-out screen with information on the caller and options for recording or even transcribing calls through speech-to-text software. Session Initiation Protocol, or SIP, is being widely adopted by VoIP vendors because it makes it so easy to develop new services. SIP lets call centers offer novel technologies like the ability to stream a troubleshooting video directly into a user’s handset.

Tomorrow’s Call Centers Today

The concept of VoIP replacing call centers is more like a rapid evolution than a complete razing and redoing of traditional call centers. Today’s business phone systems rely increasingly on VoIP technology. But VoIP is rapidly being integrated into many of today’s existing call centers and is becoming the technology of choice for call center expansion and for outfitting new call centers.

Image Credit

http://www.sxc.hu/photo/263958

I’ll show you some examples, as well as paths you can take on your way to writing a great review, whether it’s a positive or negative one. We’ll discuss the signs of a terribly written review, how to set clear goals for the coming year, how to document employee behavior, and, finally, how to lead up to a review and how to follow up on that review.

The Signs of a Terribly Written Review

Experience is the best teacher, and often, the best way to learn is from the most difficult or challenging experiences and setbacks. These setbacks can be “teachable moments” whereby a leader uses the time just after the event to discuss it with the employee and use this discussion to foster employee growth.

Too often, review systems are annual or biannual, and the opportunity to find the good in the difficult times can be interpreted as finding fault or listing mistakes an employee has made at points throughout the year. The more terribly written reviews focus on the negative and condition an employee to play not to lose, as opposed to playing to win. They should use the review as a tool for learning, growing, developing, and avoiding making the same mistakes twice. Remember, start and end with positives.

Create Clear and Measurable Goals for Your Employees

All of us want a sense of freedom and autonomy in our jobs; we value the feeling that we get to make choices that help the company attain its objectives.

The best way to set goals so the employee buys in is to have the employee write his own review of the last year. He knows what he’s done well and what he’s struggled with; this insight is invaluable in developing measurable priorities for the coming year.

Leaders should collaborate with their employees, providing input that helps shape the final version of the targets and performance criteria. When you work out these goals together, your employee will get the sense that you’re both invested. They will feel more like people and less like numbers. The goals should be clear, measurable, and leverage the strengths of the employee.

Further, an employee should be given a chance to add objective goals when they show improvement in a growth area.

Finally, encourage periodic self-reviews where the employee evaluates himself and gives the leader a chance to work on further employee development.

Document Behavior

For any of us to know how the score is kept, we first need to know the rules of the game.

Tangible examples of behaviors illustrate the rules and reduce the likelihood of misinterpreting both exemplary and problematic behaviors. The documentation of issues should reflect event dates, the correlation to the business, the impact of the event on the business, and then emphasize why a certain behavior was problematic.

Remember when we spoke earlier about teachable moments? Every misstep is a chance to teach and to learn. This is also important to do when the employee displays exemplary behavior, going above and beyond for the business and for you. Reinforce the positives.

Lead Up to the Review, and Follow Through

There is an inherent problem with the annual review process, and the concept is a hindrance to companies and employees around the world.

Actually, in my opinion, the annual review is a silly approach to a feedback system. Everyone wants to know how they are doing on a daily basis. The coaching staff around Roger Federer wouldn’t wait six months before giving him feedback on his performance in a Grand Slam event. He would know within hours of the final serve, and he could use that feedback at the next morning’s practice. Think of ways to keep people informed on a daily basis.

One way to do this is “speed dating.” Set frequent dates, weekly or biweekly, for a 10-minute interaction. Cover what is going well, what needs work, and what your employees need from you, and then see if there anything else on the employee’s mind. Then, break at 10 minutes. If there must be an annual review, it’s simply a formal document that reinforces what has been covered all year long.

If you use these four steps, I can assure you all of your yearly reviews from here forward will be positive learning experiences for you and your employees.

Remember that the annual review is far less important than what you tell your employees on a daily basis.

Focus on the smaller interactions, and the big one will write itself at the end of the year.

James K. McPartland is the principal and chief inspiration officer of theJMacPerformanceGroup, a specialized management consulting firm focused on realizing the importance of the human potential in business. He is an entrepreneur, author, international speaker, and TV/radio host with an upcoming novel, Unopened Gifts: A Journey to Gratitude. For more information, contact James here.

Knowing how to make someone comfortable, being able to engage socially, creating a favorable reputation, and developing relevant experience all provide an entrepreneur with tremendous access in social/networking settings.

At an entrepreneurship conference where I represented the Entrepreneurial Alliance of the University of Missouri, I saw a group of students raising money by selling T-shirts that said, “We’re not partying, we’re networking.” In general, more successful entrepreneurs are very outgoing – if they want to understand their customers and market, they have to get out and interact with people. But social skills are only one part of the equation.

Social interaction is key to entrepreneurs’ success, but good interactions are dependent upon intelligent insights, imaginative ideas, and passionate, confident communication.

Here are the five key traits an entrepreneur should develop for any situation:

1. Think critically. Successful entrepreneurs are critical thinkers, more often than not. By processing the information and details you have, you’ll prevent yourself from jumping into a venture without analysis, which is detrimental to success. With so many start-ups failing, you have to ask yourself about your tolerance for risk. Good feasibility studies and a sound business plan can drastically reduce the risk involved because they force entrepreneurs to investigate the market, the product, their management, their finances, and their prospective cash flow. The key to risk-taking is to minimize the unknowns.

2. Be confident. Without confidence in your actions, there will be little to no reward. You have to believe that you will accomplish your goals, even if they seem lofty or unmanageable. Risk management is both an art and a science. It involves thinking about the unknowns. What could go wrong? What could be done to mitigate those risks? Additionally, you need to put risk in perspective in order to analyze the benefits against the pitfalls.

3. Have a keen sense of imagination. When faced with a problem, oftentimes the solution that seems the most reasonable just isn’t enough. By being able to come up with creative ways to solve problems, you’re more likely to come up with a solution that benefits everyone, while also showcasing your ingenuity.

4. Communicate successfully. Sooner or later, you’re going to have to sell something to someone – whether it’s your product, name, or ideas. You have to understand your customers and how to communicate with them. You will also need to communicate with investors and suppliers. Having confidence in your product/service and yourself goes a long way toward being able to communicate effectively.

5. Be passionate. Above all, you have to believe in what you’re doing. If you don’t have passion for your own idea, nobody else will. It takes a lot of time and effort to successfully start and operate a venture. Don’t become discouraged if all aspects of your endeavor don’t work out perfectly at first; your driving passion should be enough to realize what will make you successful.

Of course, these five traits play important roles in helping entrepreneurs make solid decisions. Making good decisions is vital to success in entrepreneurial ventures. The choices present may not always be optimal, but at least satisfying solutions to problems are easier to come by with a developed skill set.

Remember that not making a decision is making a decision, too – and it’s usually the worst option available. Adopting a decision-making process like the one below will not only help you make decisions that are good at the time, but are also flexible and long-lasting.

• Define and clarify the issue/problem.
• Gather data and facts – and understand them.
• Brainstorm possible alternatives.
• Evaluate the alternatives based on the pros and cons presented by the data.
• Select the best option.
• Follow up to see how your decision played out.

Interestingly enough, your customer base goes through an eerily similar decision-making process when deciding whether they should buy your product/service or your competitor’s.

• They identify a need.
• They gather facts.
• They look for products/services that meet their need.
• They evaluate the different products/services.
• They make a purchase.
• They determine if it was the best choice and apply that conclusion to their next purchase.

That’s why it’s important to ensure that you’re providing your customers with the data to ensure they understand how your product/service is better than the competition’s. You’ve got to make their decision-making process as easy as possible; it’s one (necessary) way of being a good communicator. They’ll go through the steps – you just have to simplify it for them.

Entrepreneurs, more than corporate businessmen, need to be adept at reading others accurately, making a great first impression, and being passionate and persuasive about their ventures.

Tackling these skills will make every other obstacle that much easier to deal with – and, as an entrepreneur, there’s no doubt you’ll have your fair share of them.

Photo credit: lincolncountyedc.org

Dr. Greg Bier is a Professor of Management at the University of Missouri. He leads the newly formed Entrepreneurship Alliance in the Robert J. Trulaske Sr. College of Business. He is also a partner with Entrepreneur MO.

Thankfully, creating a business has never been easier than it is with all of the modern technology available to us; even your Apple iPhone can prove to be a valuable business partner.

If you’re planning to launch a new business venture, here are four business plan builder apps for your iPhone:

1. Business Plan for Entrepreneurs

Launching any business scheme is a complicated process and business plans tend to be, by association, complicated themselves.

The Business Plan for Entrepreneurs iPhone app assists you immensely by breaking down the process into nine critical steps, helping you to be sure that you cover all of your bases when designing your business plan and envisioning the future.

Featuring not only business plan templates but a wealth of information as well, this app aims to educate would-be business owners with a companion iBook covering all of the basics. Once this information has been reviewed, you have access to examples of completed plans in order to better understand the look and feel of the details necessary to your business plan.

When you feel ready, willing and able to start integrating specific numbers and goals, blank templates covering marketing plans, budget planning and an overall business plan await.

2. Quickoffice Mobile Office Suite

Given the passion with which most people approach the launch of any new business venture, it is important to many future business owners to construct their business plan from scratch. When taking this approach, there are two types of files that you are absolutely certain to need: text documents and spreadsheets.

The Quickoffice Mobile Office Suite for iPhone allows you to view and edit these types of documents, whether they were created in Microsoft Office, Google Docs or any other base program.

With the full power of an office suite, this app can prove to be the most powerful business plan maker for the iPhone available, especially if you enjoy working with raw spreadsheets..

3. EverNote for iPhone

If the main goal of creating a business plan is to combine your resources, ideas and goals in order to come up with a viable, workable framework then being sure that you have constant access to your best and brightest ideas is of absolute importance.

Before diving into your official business plan, consider taking the time to brainstorm first, using the EverNote app to quickly record and review text notes, voice memos and photos while also syncing them directly to your PC for future reference.

During quieter times, use these golden “eureka” moments to help shape a detailed business plan based on your own individual wants and needs, embracing both the gritty numbers and the joy of turning your fleeting ideas into concrete results.

4. iPhone Analytics App

If your website is an integral part of the business you’re planning, knowing and understanding your traffic and visitors is crucial. In the interest of keeping your business planning limited to your iPhone, consider the iPhone Analytics app to fill this need.

Giving you access to all of your Google Analytics data and presenting it in an attractive format on the small iPhone screen, this app offers 47 different types of traffic reports, allowing you to better wrap your head around where your business is on the web – and where you want it to be.

About the Author: Tom Chu is the SEO manager at PsPrint, a printing company that has a department in Chicago. PsPrint specializes in business card and poster printing among other popular services. Find me in Google+

So which type of business might be best for you? One that plays to your strengths. Take our quiz to find out more:

You base important decisions on:

1. Intuition
2. Logic

Do you like to adhere to a schedule or do you find excitement in a flexible and changing schedule?

1. Flexible and ever-changing
2. Set schedule

Do you work well in teams or do you work better alone?

1. Teams
2. Alone

Are you outgoing or more of an introvert?

1. Extrovert
2. Introvert

When you have a lot on your To Do list, which do you tackle first?

1. The easy things – cross as many things off the list as possible up front
2. The hard things – get the most difficult or taxing task done first

If you answered mostly A’s, you might consider starting a small business in the areas of:

• Client Services – Marketing and event planning are two areas in which you’re likely to thrive. It’s a requirement that you’re creative and outgoing so that you can interface with clients and come up with attractive and buzzworthy campaigns that promote your clients’ products, services, and events. Sales may also be a strong suit for you if you’re intuitive and are skilled at persuasion.
• Restaurant or local small business - If you wan to run your own brick and mortar store or local restaurant, it is imperative that you demonstrate independence and creativity, are an effective leader, and know how to collaborate with a number of different types of people. These types of businesses are often fast-paced and can be a great deal of fun for extroverts who love to meet and network with new people.

If you answered mostly B’s, the right type of business for you might be:

• Franchise owner – as a franchise owner, you operate your very own establishment of an existing chain. Franchisees are required to follow established business rules dictated by a franchisor, though they are responsible for the execution of these branding and operational guidelines. There are many franchise opportunities and thriving franchises that you might consider opening up.
• Independent consultant – you may do well offering independent consultancy services in the areas of research, finance, or technology. Running your own consultancy gives you the freedom and control to develop your own services and product offerings and work at the pace you prefer and in the environment you thrive in, be it your home, in an office you lease out, or on-site at your clients’ offices.

Photo source: santafenewmexican.com, host.madison.com

Phone Facts and Statistics

On average, a person makes or answers eight phone calls a day, so with 300 million cell phones in use in the United States, around 2.4 billion calls take place every day. An increasing number of those calls are VoIP calls, whether the phone user specifically sets out to make a VoIP call or whether his or her telecommunications company uses VoIP technology to route regular phone calls. Of the eight calls you make and receive each day, it’s a good bet that at least two of them are VoIP calls, due to increasing use of VoIP technology by traditional telecommunications providers. And with each passing year, the chance that you’re using VoIP in your everyday calls increases.

The Growth of VoIP

To say that growth in VoIP usage has been rapid is an understatement. A 2011 study by the Pew Internet and American Life Project found that about one-quarter of adult internet users in the United States have placed phone calls online using VoIP services like Skype. A 2010 market study by IBISWorld found VoIP to be the fastest-growth industry of the decade from 2000 to 2009, with growth during that period of an astounding 179,036%! That growth rate is more than 100 times greater than the next fastest growing industry during that time: search engines.

Adoption of VoIP Services like Skype

The Pew Internet study found that the number of Americans placing internet phone calls using VoIP services tripled from 2007 to 2011. Men and women are equally represented among those using VoIP, and the 18 to 29-year-old age group makes up the most enthusiastic VoIP users. Somewhat surprisingly, higher-income individuals were more likely to make VoIP calls than lower-income individuals, even though many VoIP calls are free. The study also found that the more education a person has completed, the more likely they are to use VoIP. Furthermore, urban residents use VoIP more than rural residents.

Telecommunication Companies’ Use of VoIP

Big telecommunications companies like Charter increasingly use VoIP over their dedicated and public IP networks for connecting switching centers and interconnecting with other telecommunications providers. They use VoIP for the same reasons individuals do: because it is very inexpensive. That means that even if you have never made a Skype call, chances are, you have used VoIP without knowing it, through your telecommunications provider.

Is There Any Stopping VoIP?

The IBISWorld study concluded that VoIP will likely continue to be the biggest growth industry up through 2019, though with a more “humble” growth of around 150%. VoIP has seen tremendous momentum, and there is still a lot of development potential ahead. A number of other industries will be able to tie their growth to VoIP, including eCommerce, wireless telecommunications, and even online dating. For these reasons, the upward push in VoIP adoption is expected to continue for the foreseeable future. Factors that will continue to contribute to the explosion in VoIP use include:

• The drastically lower costs of VoIP communications compared to traditional phone calls
• VoIP’s easy integration into other technologies, like WiFi and 3G
• VoIP’s increasing inclusion of features that users count on, like conferencing, forwarding, and very flexible call routing.

While some mobile telecommunications companies are looking for ways to block use of VoIP services like Skype (see this recent story from Sweden), many more are integrating VoIP into their services in order to expand their reach and cut their costs.

What this means for the average caller is that as time marches forward, you are increasingly likely to be using VoIP more frequently in your everyday life, even if you never use services like Skype.

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Create a Concept

Decide what type of magazine you want to publish. And we’re not talking about the subject matter (we’re assuming that if you are eager to start a business that involves distributing content in the style of a magazine, it’s the topic itself that you’re excited about, not the publishing process). No, we’re talking about how you’ll distribute your magazine. Will it be a:

• Glossy newsstand print publication funded by advertisers and/or subscribers? Your publication doesn’t have to be a major national magazine; this could include a small regional business publication or a local lifestyle magazine.
• Magazine that is produced and distributed for the web or email? Online news websites are increasingly popular because of their relatively low cost to maintain and ability to reach larger audiences than print publications.
• Digital edition? This term refers to a magazine that is delivered electronically but is formatted much like the print version of a magazine. For example, Lonny Magazine or Gadgets Magazine.

Your magazine may even be a combination of all three, but the key is to know how your target audience wants to receive and read your magazine, and tailor the medium to them.

Get Financing

You might make inroads by reaching out to people who are currently in the publishing industry. You’ll have better luck reaching out to the editors and publishers of smaller, niche magazines or magazines that you aspire to be like. Do a little research, or find out directly from the publisher how they got their start. Many magazines are self-funded “labors of love” at first that slowly turn into profitable exposure for advertisers; some others might require investment backing from private companies or get their start through a small business line of credit.

Once you’ve built a relationship with advertisers (if that’s your business model) or are making money in some other way, you’ll be able to bring additional products into the mix to sell to customers. Some publishers make most of their money from special events, reports, books, and other add-ons.

Layout and Design

In addition to the editorial content and theme of your magazine, the magazine’s layout is the next most important thing. You’ll likely require the help of a professional designer who has experience working for print and has the software and knowledge necessary to put together a professional-looking publication. If your magazine will be online only, you’ll want to work with a graphic designer who has experience bringing your editorial copy to life creatively.

If you plan to tackle the layout on your own, whether for print or an online magazine, look for magazine inspiration from those publications you admire or from graphic and design sites like Smashing Magazine.

Finding Content

The other sub-title of this section was going to be, “Hiring Staff.” Like any business, hiring experienced employees will help you learn quickly; and the quicker you learn the ins and outs of magazine publishing, the sooner you can expect to succeed. As publisher of a magazine, you’ll be forced to wear many hats that involve carrying on relationships with printers, distributors, advertisers, customers, and others. Hiring contract or full time employees will help you plow through the To Do list and all of the necessary tasks to get your magazine ready for distribution.

But while all employees are important, the key to a successful magazine is its content. Spend time to find quality, available writers and contributors for your magazine. You may be an experienced and prolific writer, but the best magazines bring in thoughts and insights from a number of authors and experts. Start by seeking out contributed pieces from professionals who are experts in your magazine’s topic. Some may love the exposure and will require no additional payment other than to see their name in print (or on the web). Others, including freelance writers who do research specifically for the article, will expect to get paid per article or per word.

Printing Options

When you’re ready to go to the presses with your magazine, you should seek quotes from a number of printing shops, both locally and online. Remember that, as with any vendor, you may not necessarily want to go with someone that gives you the lowest price. Print quality, customer service, turn-around time, and paper and binding options are all important elements to consider.

Distributing Your Magazine

To distribute your magazine, you must first give your key audience a little taste of what they might get if they were a paid subscriber. Allot a budget to distribute sample publications and free magazines to those people that represent your dream subscribers, and be sure to give them all the information necessary on how they can become a full subscriber. You can find these people at conferences or events that tailor to their needs, or you can partner with advertisers to distribute free editions through their marketing channels as well.

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