Before we look at the qualities and characteristics of Successful Entrepreneurs we are going to take a quick look at the different categories of businesses that you may own as a business owner.

These three categories are:
1. The Lifestyle Business
2. The Community or Generic Business
3. The High Growth Business

The Lifestyle Business
The lifestyle business is usually a small business built around one or two people and is often operated by people with an expertise that decided to create an income and lifestyle for themselves, rather than be employed by someone else. They like the freedom it gives them, they like being their own boss and the venture allows them the flexibility to live a certain lifestyle. Trades-people, Consultants, Beauty Therapists, Engineers, Advertising Experts, Independent Sales Agents who work by themselves or with a small support staff or strategic partners often fit in this category. With a lifestyle business the key person(s) are the business. They personally bring in most of the income. If they lose interest or for some other reason stop working the business, the business usually disappears. The business can usually be started on a small investment, their expertise is their main asset and the owners often work from their home or shared premises with low overheads. Rather than being seen as a business owner, they are more likely to be viewed as self employed individuals. The informal sector of business owners i Canada would most likely fit in this group, as well. (Buskers, crafts-people, etc.) Most lifestyle business owners are content with the lifestyle their businesses give them and are not trying to build a big business.

Click here for Advantages and Disadvantages

The Community / Generic Business
The Community or Generic Business usually has more employees than a lifestyle business. This type of business usually involves the renting or buying of physical offices or physical space, equipment, etc. A Community or Generic Business would be most local retail stores, restaurants, hotels, professional practices, local or regional focused manufacturers, wholesalers, distributors, builders or service type companies. These businesses eventually generate income without the founders or owners being involved 100% of their time. Over time the business develops value through its processes, local branding, proven income and profit and can be sold or passed on to family members. Energetic lifestyle business owners such as trades-people (electricians, carpenters, plumbers), professionals (accountants, lawyers, trainers, consultants) who decide to develop a larger business with more key people, processes and products earning revenue will often graduate to a Community or Generic Business. Local franchisees to regional, national and international franchise organisations would also fall into the Community or Generic Business category.

Click here for Advantages and Disadvantages

The High Growth Business
This would be those businesses that decide to expand and risk into several locations or new markets regionally, nationally or internationally. Business owners that decide to expand through franchising or owning several locations fit here. A manufacturer, distributor, wholesaler, service organisation, professional group, retailer, or any other company or group (could be co-operative crafts group) that decides to work the much bigger regional, national or international market through agents, distributors, affiliates, partners, direct marketing, tradeshows and e-commerce type marketing would usually be viewed as a High Growth Business. These are more complicated businesses to operate.  The risks and rewards are bigger and larger numbers of employees, suppliers and affiliated businesses and personnel earn income from the High Growth Business. Community or Generic Businesses often expand into becoming a High Growth Business. Ambitious entrepreneurial types and new ventures established by large High Growth Businesses will often go from the Concept Stage to the Take-off Stage straight into the Ambitious Stage of expand and risk in a very short time. This takes capital and expertise. Many High Growth Businesses often become public companies listed on the Stock Exchange or are bought by or merge with larger companies.

Click here for Advantages and Disadvantages

Where Do You Fit?
If you are starting a business venture it is important to decide which category of business ownership you wish to initially be in and where you eventually want to be. Many people wisely choose the lifestyle business and are happy with the rewards of that category of business. Others may want to establish a community business having more people work with them and establish a local brand worth re-sale value at a later date. Then there are those highly ambitious entrepreneur types that want to make the bigger sacrifice of time, energy, ability, money and reputation, to play in the big leagues for bigger stakes. There are advantages and disadvantages to each of these. To help you decide we’ve made a short list of the Advantages and Disadvantages of these three categories of Businesses. It will help you and your family see where you want to be or realistically can be.

Research in Europe indicates that only a small portion of small to medium size businesses create the majority of jobs. It is the dynamic companies and ambitious entrepreneurs that are the biggest generators of jobs. Obviously it is the High Growth Businesses that have the biggest single impact on job creation. Collectively the self-employed individuals in a country like South Africa also have a major impact on the economy because all of these people have a job working for themselves. The Community and Generic Businesses are also major contributors collectively to local, regional and national economies. The ambitious ones often grow into High Growth Businesses. The majority of the ideas, tools, “how to’s” and processes in this program can be used by business owners and entrepreneurs and their staff in all three categories of business ownership. You just have to adapt them and use a bit of innovation and creativity.

Complete the Three Types Of Business Ownership Excercise now FREE: ThreeTypesofBusinessOwnershipExercise

This post has been published by Ryan Anthony Gibson

The High Growth Business
This would be those businesses that decide to expand and risk into several locations or new markets regionally, nationally or internationally. Business owners that decide to expand through franchising or owning several locations fit here. A manufacturer, distributor, wholesaler, service organisation, professional group, retailer, or any other company or group (could be co-operative crafts group) that decides to work the much bigger regional, national or international market through agents, distributors, affiliates, partners, direct marketing, tradeshows and e-commerce type marketing would usually be viewed as a High Growth Business. These are more complicated businesses to operate.  The risks and rewards are bigger and larger numbers of employees, suppliers and affiliated businesses and personnel earn income from the High Growth Business. Community or Generic Businesses often expand into becoming a High Growth Business. Ambitious entrepreneurial types and new ventures established by large High Growth Businesses will often go from the Concept Stage to the Take-off Stage straight into the Ambitious Stage of expand and risk in a very short time. This takes capital and expertise. Many High Growth Businesses often become public companies listed on the Stock Exchange or are bought by or merge with larger companies.

Advantages:

•    The continual challenges of continual change, new markets and new opportunities creates ex-citement and energy in your life especially when you are succeeding. Some people live off those feelings.
•    In a High Growth Business once you’ve achiev-ed momentum it tends to multiply its success quickly.
•    The opportunity is much greater for wealth building through large income opportunities

• Wages, bonuses
• Profit share
• Listing – going public
• Mergers
• Selling to another company

•    Though strong cash flow, partnership, alliances, investors, financing and networks, you usually have the capital to expand and take advantage of the bigger opportunities.
•    Your decisions, research and actions are often backed by a professional team of marketers, financial experts, legal people, technical and HR people that increase your chances of success. You are not alone.
•    Because of your size and often your reputation you can attract, develop and keep top perform-ing people that can make the company successful.
•    If you are successful you end up with lots of media coverage and you become admired by the business community and public in general.
•    Large and powerful business, political and personal networks open up for you
•    Government, your industry and the community at large want you to succeed and will often help because of your contribution in the form of jobs and the success of the industry and economy in general.
•    High Growth Businesses usually have large amounts of money invested into its success by banks, investors, government, and suppliers to name a few. If problems appear they become part of the solution because they can’t afford for you to fail. “Owe a little, it’s your problem … owe a lot it, is everybody’s problem.”
•    It is a great opportunity to develop your leader-ship skills, business and entrepreneurial abili-ties at a phenomenal pace because of the size of the transactions, and the network of ex-perienced successful people you associate and do business with.
•    It is an opportunity to make a major impact and contribute to society and your industry and leave a legacy that will last far beyond your own working life.

Disadvantages:

•    The continual challenge of venturing into new territory and new opportunities can be very stressful if you always like to know exactly what is going to happen. Some people cannot live with the uncertainties.
•    If a company “runs of the rails” during a high growth period it has to be re-directed quickly, otherwise the momentum may take it quickly to a point of no return. Rapid growth is great if you are on track. If you are off track it can be destroyed quickly.
•    Especially during the growth and expansion periods there is a continual need for refinan-cing, raising capital through sales, investors, borrowing and bringing on strategic partners. This is stressful and tiring.
•    As the need for capital increases your position as a shareholder is often diluted. You run the risk of losing control, being replaced, bought out or pressured into a position or situation you don’t want to be in.
•    The company no longer exists just for you … you now need to fit into the business and answer to partners, board members and share-holders. It is no longer just “your baby”.
•    The business often requires lots of travel and time away from home in order to succeed or to correct errors created by others. It also requires the key people to put in long hours of work. Without this kind of commitment the business will not make it.
•    The actions or decisions by someone in another geographical location or division can negatively affect your cash flow and reputation.
•    You may have to change salary packages, in-centives and promises initially made to original partners, investors or employees because of new circumstances and new stages of busi-ness growth or decline.
•    Strong empowering leadership along with pro-per delegation of major responsibilities to other qualified people is needed in a successful High Growth Business. You may not have the skill to do this or just can’t or won’t let go of the reins.
•    Monthly overheads can extend far beyond what you personally can generate in income. This puts it beyond your control to pull the company out of tough unexpected cash flow “crunch” periods by yourself. In the early days of your business you probably could do that. Now you can’t. Can you live with that thought?

Due to the difficulty of bank based loans and the need for capital, cashflow, and investment you would likely go to friends and family for loans. We recommend you use www.kasu.ca in Canada.

There are three types of business ownership positions:

1.    The Lifestyle Business
2.    The Community or Generic Business
3.    The High Growth Business

This blog has been prepared by Ryan Anthony Gibson and the source is Bill Gibson’s Business Success Series by http://www.kbitraining.com

The Community or Generic Business usually has more employees than a lifestyle business. This type of business usually involves the renting or buying of physical offices or physical space, equipment, etc. A Community or Generic Business would be most local retail stores, restaurants, hotels, professional practices, local or regional focused manufacturers, wholesalers, distributors, builders or service type companies. These businesses eventually generate income without the founders or owners being involved 100% of their time. Over time the business develops value through its processes, local branding, proven income and profit and can be sold or passed on to family members. Energetic lifestyle business owners such as trades-people (electricians, carpenters, plumbers), professionals (accountants, lawyers, trainers, consultants) who decide to develop a larger business with more key people, processes and products earning revenue will often graduate to a Community or Generic Business. Local franchisees to regional, national and international franchise organisations would also fall into the Community or Generic Business category.

Advantages:

•    Adding of efficient staff such as a manager, controller, production manager, sales manager, allows you to also pursue other interests, hob¬bies and other investments. It frees up time for you.
•    With the right people and processes in place along with a history of financial success the business could be sold it you want to exit. You are building an asset.
•    You can eventually become an established name resulting in a certain amount of business coming in without pro-actively going after it.
•    You can be a “big player” in a small pond.
•    You can become well known within the com-munity or industry and become part of the key social and business circles, resulting in social and business status for you and your family.
•    Banking needs become easier to access over time.
•    You accumulate hard assets over time in the form of property, equipment and cash.
•    You earn above average income.
•    Other people, products and processes earn income for you. You don’t have to do it all by yourself.
•    You have a team of people to give you input and act as a “sounding board” and become “contributors” to finding opportunities and solv-ing problems.

Disadvantages:

•    A lack of ability or “know how” to put in good business processes and hire, train and develop good people could result in a poorly run business.
•    Believing your business is worth more than it is and the challenge of getting what you think the business is worth when you decide to exit. You may not be able to exit effectively.
•    Because you are established, apathy can set in, and you may not stay on top of changing cus¬tomer needs and what the competition are doing and end up in financial difficulties that may not be reversible.
•    You can get bored with going to the same place each day dealing with the same people.
•    The “fish bowl” effect! Living and working within one community you are watched closely and can easily become part of a negative rumour mill. You and your family can get tired of living up to an image.
•    A substantial investment may be required to start, buy or keep the business going. The debt load could be quite big and put you at risk.
•    The quality of your service, products and pro-cesses is in the hands of other people. They could fall short of your expectations as well as the customers and negatively effect your name.
•    There is always the risk of other people in your business making a mistake or intentionally hurt¬ing your financial position.

Due to the difficulty of bank based loans and the need for capital, cashflow, and investment you would likely go to friends and family for loans. We recommend you use www.kasu.ca in Canada.

There are three types of business ownership positions:

1.    The Lifestyle Business
2.    The Community or Generic Business
3.    The High Growth Business

For more information on how this can help you define your business opportunities and help you succeed in business contact billgibson@kbitraining.com

This blog has been prepared by Ryan Anthony Gibson and the source is Bill Gibson’s Business Success Series by http://www.kbitraining.com

Is your business ownership currently a Lifestyle Business?

Business Ownership: The Lifestyle Business
The lifestyle business is usually a small business built around one or two people and is often operated by people with an expertise that decided to create an income and lifestyle for themselves, rather than be employed by someone else. They like the freedom it gives them, they like being their own boss and the venture allows them the flexibility to live a certain lifestyle. Trades-people, Consultants, Beauty Therapists, Engineers, Advertising Experts, Independent Sales Agents who work by themselves or with a small support staff or strategic partners often fit in this category. With a lifestyle business the key person(s) are the business. They personally bring in most of the income. If they lose interest or for some other reason stop working the business, the business usually disappears. The business can usually be started on a small investment, their expertise is their main asset and the owners often work from their home or shared premises with low overheads. Rather than being seen as a business owner, they are more likely to be viewed as self employed individuals. The informal sector of business owners in South Africa would most likely fit in this group, as well. (Hawkers, crafts-people, etc.) Most lifestyle business owners are content with the lifestyle their businesses give them and are not trying to build a big business.

Advantages:

•    You are Self Employed and you have the free-dom to choose how much you want or need to work and who you want to have as clients.
•    Usually work at home or close to home. The family is included or seen a lot.
•    You do most of the work yourself and have con¬trol over the quality of work and client relation¬ships.
•    Minimal financial investment to get started.
•    You can build the business part time while still being employed.
•    Low financial overheads.
•    Very little need for debts and financial  obligations.
•    You can quickly hit the financial break-even mark.
•    Financial control and financial management is fairly simple.
•    Your expertise and skills are usually your main assets. It cannot be taken away from you.
•    You can dabble in a number of income gene-rating opportunities without risking the success of the business.
•    Easily change direction or adapt to new situa-tions or opportunities.
•    Very few people to lead or manage. Less people hassles.
•    You can quite easily shut the business down and do something else.

Disadvantages:

•    You often “over commit” and have minimal support and help in your area of expertise. The result can be many long hours of work.
•    Interference or distractions by family members because you work at home or close to home can negatively affect your productivity and energy.
•    Miss out on bigger opportunities because of lack of personal capacity or additional exper-tise.
•    No one to answer to, therefore causing a lack of self-discipline to continually implement best practices and habits.
•    Working alone can be lonely and you miss the input from co-workers and partners. When you are down and have to pick yourself up, very little emotional support.
•    You may lack the sales ability or delivery ability therefore minimising your success. It is difficult to be skilled in all areas.
•    Inconsistent cash flow. While you are providing your service, handling the project or creating your product, etc. you may not be selling and marketing. This causes the “feast or famine” situation.
•    If an unforeseen unfortunate situation (accident, sickness, family tragedy, family conflict) hap¬pens to you, your cash flow could suffer to the extent that it could close your business down and put you in a tough financial position.
•    It can be quite difficult to access bank support. (Due to the difficulty of bank based loans, you would likely go to friends and family for loans. We recommend you use http://www.kasu.ca in Canada.)

There are three types of business ownership positions:

1.    The Lifestyle Business
2.    The Community or Generic Business
3.    The High Growth Business

For more information on how this can help you define your business opportunities and help you succeed in business contact billgibson@kbitraining.com.

This blog has been prepared by Ryan Anthony Gibson and the source is Bill Gibson’s Business Success Series by http://www.kbitraining.com

“Employing superstars is fine, but the team is far more important than individual stars.”

“The challenge of business leaders is to build a peak performing team that is much more than just a group of individuals under one roof.”

“Managers are coming to realize that the people who are best equipped to make decisions in the sections are those who work in them. With team members themselves involved in making decisions, the role of the manager changes. To extract peak performance from teams of people in the new world of business, managers have to be leaders, rather than jus supervisors.”

“The teams themselves are changing to business units that, instead of simply following orders, accept their function and add value for the customer. Teams are often cross-functional, following the realities of the business, not limited to just their own territory. For us to be competitive our teams have to be equally fluid, ready to adapt as soon as the need arises.”

“Planning has to be an over-arching function that includes the entire business, not just a section. Sales, purchasing, design, production, finance: all have to be working from the same page.”

“Successful change from the bureaucratic to the co-operative can be gauged by looking at three elements: the rational, the emotional and the political.”

“The period of renewal during the transformation phase should lead to a culture that is always ready to adapt. In such an organization, management support the learning of individuals and a culture of learning and personal growth develops.”

“The final result is the revitalization of the entire organization. The changes can be dramatic. New business may be invented. The very rules of how the business competes may change. At this point, you do not have to tell the people working in the business that the organization has been transformed – everyone can see it”.

“The un-knowns facing business fall into two categories the known un-knowns and the un-known un-knowns. The known un-knowns are variable factors of which you are aware. In the mining business, next year’s or next month’s gold price is a known un-known. Changes to the exchange rates fall into much the same category, affecting everyone, but particularly importers and exporters. We know they are going to change. We do not know how much or in which direction.

“The known un-knowns should be easier to deal with than the un-known un-knowns. Into this category fall changes like those that have affected farming in the last 20 years. Under the old system the agricultural boards removed the commercial uncertainty of farming. Today both the weather and the state of the market are uncertainties facing farmers.”

“The first thing we have to accept is that perhaps half of all un-knowns are beyond our control. What we must do, is see to it that we have made provision for the other half”

Compiled by Ryan Anthony Gibson

Everybody is always looking for the next big thing. We are told that within each of us there is a billionaire, that it is a matter of reaching your human potential. There are magazines for business opportunities, articles, and ideas galore. Flip to the back pages of any of these magazines and you will conveniently find the business opportunities that are advertised everywhere with promises to make millionaires of us all within 365 days or less.

Sure, if you are robbing banks – that is.

There are many stories that have come from life altering and mind altering situations where regular people or rags to riches have actually become millionaires. Most of these stories come down to the human factor, their resilience, their commitment, and their faith in themselves. The reality is that for them, fear is a common factor that existed but they had under control or drove them forward. The fear of a new opportunity as not as great as their desire to consciously create their success and physically take action to do so. They were part of the Do It! Generation, the slogan we use to be very familiar with by the Nike swipe on a shoe, shirt, or hat.

It is true that there are some who have rags to riches stories about a simple, yet brilliant, idea which made them incredibly rich. It has happened; it still does and will still. The story of Bill Gates is an interesting success story, or the founders of Google, the inventor of the Company Bodog for online gambling, or the founders of Google… all are great internet success stories. But, the fact of the matter is that we do not need to sit hand in head, staring at a bowl of stale popcorn for dinner, for circumstance to force us into a moment of business brilliance.

It can, and should, happen almost every day.

Opportunities are all around us if we only know where to look. “There are business opportunities around every corner, in every paper, in every circumstance,” says Bill Gibson, Canada’s Top International Business Speaker and South Africa’s favourite business guru.

In a recent article he tells us how to maximise these opportunities:

Identify your full business opportunities: “Ask yourself what business you are really in and then act on it,” says Gibson. “If you are a neighbourhood convenience store you can really take the term, convenience, to a new level by offering more than just the basics, but expanding into total convenience for your clientele. Video hire, instant, meals, a delivery service or a wider variety of goods. The opportunity is ripe for the taking.”

Identify opportunities arising from your current business: Business owners need to ask themselves if their companies’ resources are being fully utilised? Is it possible to diversify or enhance the product or service currently offered? Strengths can be expanded and weaknesses corrected to provide new opportunities. An aircraft manufacturing company had a fibreglass division which was underused and costing the company money. The choice was to either close the division (costing jobs) or find an alternative use for it. The company decided to start designing bathtubs and, so successful were their designs, that a new company was formed just to design and produce the tubs.

Take advantage of current situations: Some people may see it as opportunism, but fact of the matter is that we do not live sheltered lives. There are many good, and sometimes bad, events that demand attention and offer potential profits. For example if your city is experiencing an increasing crime rate, for example, this has lent itself to a huge boom in the personal security market. Armed response, pepper spray, even security complexes are now the order of the day. After a volcanic eruption on Mount St. Helens, entrepreneurs developed souvenirs and novelties for the tourism industry. It is not a matter of exploitation, but rather clever and rapid reaction to needs created by sudden changes in the environment.

Magnifying (amplifying) people and events: “Magnifying or amplifying the popularity of a special person, group, enterprise or event can ensure greater demand for a product or service,” says Gibson. “Use an image-making strategy to create market demand.” This method of increasing interest is especially effective in the tourism industry. Without Nelson Mandela, Robben Island would just be another prison, would it not? Sandton Square renamed itself Mandela Square at Sandton. While it is a great tribute to the world’s greatest statesman, it is also an excellent move to magnify or amplify the status of the square. Some South Africans will argue that the large bronze statue probably does not do the man justice, but most international visitors will not see it that way. Amplify the importance of your offer, if marketed the right way, the masses will follow.

Capitalising on a growth trend: Try to get involved in areas where more and more people are getting involved in. Consumer spending behaviour is a fickle thing and can move in any direction at a rapid rate. New innovations, tastes, lifestyle choices and fashionable trends offer many profitable opportunities for the entrepreneur with his or her ear to the ground. “To capitalise on the growing trend towards natural healthcare,

many pharmacies now offer wide ranges of these products,” says Gibson. “The explosion of the call centre industry is another example of taking advantage of growth trends.”

Most Amercian companies use Canadian or Indian-based call centres. It is cheaper for them and, especially in Canada’s case, the quality versus cost ratio is especially favourable. Many local companies have caught on to this and are making vast sums of money. Taking advantage of a fashion opportunity also falls into this category. Skateboarding, for example, has become very fashionable again. The same can be said for the clothes, music, and equipment that go hand-in-hand with the skateboarding culture. It needs to be taken

advantage of.

Find use for waste materials: South African billionaire, Patrice Motsepe, started his empire by coming to an agreement with a gold mining company to utilise the dust left from its mining activities. With a special process for extracting gold from the dust he built his business. Today, Motsepe is involved in all manner of industries including mining, finance and soccer. One company’s waste can be another’s bread and butter if utilised the right way.

“A market switch happens when consumers move from one type of product to another on a long-term basis,” says Gibson. “Just think of society moving from VHS to DVD players, from tapes to CDs to MP3s and such.” When a market switch occurs a whole host of other industries benefit from it. Packaging is needed for the new ranges of products. Other support equipment is needed to enhance products’ fashionability for the consumer. Cell phones are a classic example of secondary offers enhancing the image of a base product.

There are many other areas which we can explore to find that business idea that will make our dreams a reality. Newspapers are full of potential ideas, if we only open our minds to the possibilities hiding amongst the pages. Gibson says that we have trained ourselves to miss the obvious, to look in the wrong places and to over complicate the matter. Business genius is not born from a bowl of stale dinner popcorn, it is all around us. In everything we do, in everything we read, in every travesty and adversity we may face. We just have to be positive enough to see beyond a few strands of hay.

For information on Bill’s Turning Entrepreneurial Spirit Into Business Opportunities audio CD and manual program which can be purchased and emailed in soft copy to you contact info@kasu.ca.

Business opportunities are all around us, just like radio and television waves, but we don’t recognise them until we tune them in with an antenna and receiver.  If you are interested in more information on the 51 opportunities we believe are key  for recognizing opportunities contact  info@kasu.ca for more information on Turning Entrepreneurial Spirit Into Business Opportunities  to help you search for new venture ideas. If you keep those questions in your mind, you will begin to “tune in” on the opportunities which surround you.

Every existing or potential business owner can always be searching for new venture opportunities. A business is like a living organism; parts are always in a process of dying and need to be replaced.

Business owners need to be looking for new products, services, processes, and procedures to keep their organisations healthy. Without growth and new energy every business will eventually die.

There is a big difference between a business idea and a business opportunity. You might have many IDEAS for business ventures, but they are business OPPORTUNITIES only if they have a chance to succeed. Separating the opportunities from the ideas is like separating wheat from the chaff, the way to find the “good stuff”. This program includes a list of questions which you should ask about any new venture ideas. If the answers show that the idea has promise, you can proceed to develop a business plan. If your answers show some serious problems with the idea, then you can modify it or move along to another idea without losing much time or money.

Existing and potential business owners should be prepared to replace one business idea with another. The failure of one idea is less important than the failure of a total business organisation. If one idea does not test out well, another can be tried. A large pot of ideas is a basis for business success, so that alternative ideas are always available. Anyone relying on a single idea has nowhere to turn when that idea fails. The continuous cycle of generating ideas and testing them to find the real opportunities ought to be a normal part of business development. When too few real opportunities are found, more ideas should be generated.

Having a good idea is only the first step in developing a business. A good idea cannot ensure success if other essential factors are not in place. However, a poor idea can fail even when the best business skills are used. Anyone with a single idea needs to check that idea thoroughly before acting to start a business. In addition to checking the single idea, the potential business owner needs to consider alternative ideas which may have more promise. Thorough examination of a business idea is always cheaper than the expense of business failure.

Finding business opportunities requires a systematic, analytical approach, and also a degree of unstructured creativity. Many individuals find it difficult to combine both approaches. To draw on the strength of both dimensions, you might want to consider developing a team for exploring opportunities. The result from a group of people with different talents and skills can often be superior to those from one person. Interaction among people can lead to new ideas which no-one would have thought up alone. Developing a small group with a variety of business and thinking skills can be both exciting and profitable. Suggestions in the program will work equally for individuals and groups.

The importance of business planning cannot be overstated. Once an idea has been selected as the basis for a venture, thorough business planning is essential. After using this program, you ought to have one or more ideas which are good enough for you to invest the effort of developing a business plan for your business or new product/service launch.

We can only supply ideas through our blog, but the ideas, judgements, information, and decisions about your potential ventures are YOURS. Your success will depend on your own efforts and ideas.

Above all, remember that information is not power, information combined with right actions is power.

By Ryan Anthony Gibson

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Sponsor Message: If your business is going to be funded by friends and family, then you should go to http://www.kasu.ca and document your loans.

Bad Credit Loan is a loan which is generally speaking offered by more predatory lending practices or companies that make profits at the expense of your financial stability. Often Bad Credit Loan and Debt Consolidation companies help pay the unsecured debts that you are struggling with to pay on time. With the current state of the economy, bad credit loans and debt consolidation provide a method of pulling an unmanageable burden into a single payment scheme and allow the rebuilding of one’s credit. Likely you have been turned down for loans and credit. Some of these quick loan applications can come by way of securing it against your assets or house, some security is expected. These often have communities of mortgage investors. In other cases, Bad Credit Loan services might offer the loan online, an online bad credit loan, which usually gives overnight service. They are often open around the clock, but the % on the money is as high as it could legally be within your Country of origin.

Some suggest that you can build with bad credit loans. Paying back the loans can be registered and if the loans are used to pay off capital before going into default. Due to the high interest however, I am sceptical of bad credit loans. I would sooner use my ingenuity and seek capital from friends and family with similar terms. Most people don’t think about the fact that friends and family are a healthy alternative, especially if you are willing to give them the same rate and similar payment terms. I highly suggest trying to convince yourself to use a loan document such as those at www.documentyourloan.com or www.kasu.ca, and find the money from friends and family under the same terms. Let someone you love make the profits.

Bad credit loans and debt consolidation plans require that all payments are made on time, and this is the basis for being given the credit and being able to keep and build upon your credit. There are many predatory bad credit loan lenders. I once had a friend who was one such loan shark as we would call them for the rate and ethics of convincing people to put their financial future in their burden laden hands. With the crash of the economy, I had a discussion with him recently and he said he is no longer a Bad Credit Loan company, he is a debt collector. You don’t need another debt collector, especially one that can charge up to 60% interest legally in Canada. At least if your friends and family gave you the money, 20-40% interest would look amazing for them and a default on a payment will be treated much lighter.

A little ingenuity will go a long way when you have dealt with a bankruptcy, bills in arrears, defaulted loans, and job instability. This is the pond of despond of which the Bad Credit Loans often dwell, but look for the Hand of Help among your friends and family. Use the Universe, a Loan Document, and a story and method of repayment to try and raise the money, and yourself out of the situation. Keep making payments to whomever you borrow from, as the Friend Rating is often higher than the credit rating in priority as you will have to go back to them more than the bank.

It is vital either way, if you are going to sign a loan with someone, that you know the terms and have had an opinion on those terms. Many bad credit loan providers try to put terms by their clients without the client even knowing the full extent of the loan. They are required to disclose it, but disclosure is a tricky word, as tricky as the backhanded duplicated cross referencing self cancelling over charging multi default laden bad credit loan you can get from someone who claims to be disclosing. In actual fact they are, but you would likely not understand it. Use a loan from www.documentyourloan.com, understand the terms, make fair agreements with friends and family, and don’t fall into the clutches of bad credit loans. If you have to go for a bad credit loan then make sure you know exactly what you are signing.

You know my thoughts on the matter, www.documentyourloan.com

An unsecured loan is the opposite of a secured loan as it is not backed by an asset or collateral, it is a loan of which there is no backing accept for the legal ramifications of possibly someone suing for payment.

As an unsecured loan for a company, I have taken unsecured loans from friends and investors for higher interest rates in order not to encumber the assets in the event I had to take another loan in the future. The other loan would likely help consolidate the loans but would be secured. It also gave me the flexibility to sell assets within the company for additional cash flow. As an entrepreneur, unsecured loans and unsecured loan documents became very important parts of a the working company. The need for loan documents happened at least once a quarter as we shuffled one loan for another or repaid and borrow again. The loan documents at www.kasu.ca are sufficient for making the Loan Document you would need in these matters.

For unsecured loans with friends and family, I have borrowed money with the promise I would pay them back. The nice part of the unsecured loan of course is that you have flexibility with your assets and cash flow. Secured loans often have many conditions on what you can’t and cannot do making your worth less manageable.

Unsecured loans from Banks and Credit Card or finance companies often is also based upon credit ratings. In this case, the loan is much more difficult to get as it is based solely on credit rating, which factors in the borrowers income or cashflow.

Obviously if your friend is lending you money it is not based on credit score, its about your friendship. But I highly recommend documenting the loan at www.documentyourloan.com for showing your payment schedule and keeping a good track record with friends and family. Your friend rating is often just as important as the credit rating, because you will likely go back to your friends more often than you will your bank. The only thing at stake is your friendship, but it is also your cashflow. Some people call this friends and family loans, some call it Love Money, some call it goodwill lending, its all similar in concept to one common definition, they are all unsecured loans.

Unsecured loans with financial institutions are generally personal unsecured loans which the individual has made a personal pledge to repay, a business unsecured loan or unsecured business loan, of which the company makes an obligation to pay similar to the example above, or there is an unsecured business loan with a personal guarantee to pay. All three of these types of loans I have personally done within the last year! How is that for a need for good loan documentation? It is actually why I came up with the idea of this blog and the company document creator www.documentyourloan.com as it automates a process I have to repeat often.

I hope you enjoyed this definition of an unsecured loan and blog.

A Secured Loan, which is just that, when an asset is used to secure the loan such as a house, car, stock, or company, and in the event the borrower cannot pay the loan, the sale of the asset is forced, acquired, or foreclosed. Thus, the collateral secures the debt of the lender of the loan, and the loan document would specifically define how such default would transpire to acquire the asset in the event the funds are unpaid or payments are missed. In many events and cases, I have used stock loan agreements, which is a loan secured by stock in a company. There were two such events that triggered, one was that I had to make payments to the lender, and if a payment was missed the stock could be sold to repay the loan immediately, or in other events, the stock could be sold by the lender if the price of the stock fell below a certain price over a 20 day consecutive period. Either way the terms where put in place and the loan was secured by the asset. The most common is with the home, such as, a home loan line of credit, where one gets lower interest rates and higher lines of credit for allowing a mortgage to be registered against the home for the value of the line of credit. From the creditor’s perspective this is a category of debt in which a lender has been granted a portion of the bundle of rights to specified property. The opposite of secured debt/loan is unsecured debt, which is not connected to any specific piece of property and instead the creditor may satisfy the debt against the borrower rather than just the borrower’s collateral. In the case of stock loans, often if the principal is not paid by the sale of the assets, the stock in this case, the remaining balance could possibly be an unsecured loan outstanding against the debtor.

At this point in time, the lender would need an unsecured loan document to document your loan at www.documentyourloan.com.