Archive for November, 2008

The Right Way to Start Your Coffee Business

November 15th, 2008 davidguide

So you want to start a coffee shop business? To build what could beat the Starbucks monopoly may be a far-fetched idea if you’re just about to start a coffee business but it does not hurt to dream big. Dream big, start small and value the importance of working hard for it. The presence of these coffee shop industry giants should not discourage an aspirant to pursue the business he wants, always remember that we’re all working for someone.

Coffee shops are a good investment just like any other food product is. Undoubtedly the most important aspect of setting up a coffee shop (like any normal business) is deciding on a location. It really depends on your preference but if you ask me, you would want your coffee shop to be around people who take the same path on an everyday basis or around college campuses. (more…)

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How Not to Raise Traditional Capital… How to Raise “Guerilla” Capital

November 15th, 2008 davidguide

We have compiled a list of some practices which seem sure to kill your chances to attract investors. Ignore these lessons at your peril.

* Poor market research, weak business plan

* An unfocused, “shotgun,” approach to which venture capital sources to approach

* Does not have enough seed capital dedicated to the capital raising effort

* Does not allow ample time for raising the capital

* Seeks too much capital, or sets too large a minimum initial investment for the project or company.

* Does not have enough of their own capital committed to the project.

* Does not have a clear picture on the use of proceeds.

* Does not have a rate of return projected on the investment

* Does not guarantee an exit strategy for the investor (more…)

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Women’s Business Grants

November 15th, 2008 davidguide

Women’s Business Grants are numerous, but many women are not aware of all of the
offerings available to them. Some of the business grants that are available are just for women.
There are so many options not only for just to own or maintain a business, but, also to help with schooling to help you with your business. This can help with you bettering yourself to maintain the business.

Let us check on some of the growing list of Women’s business Grants. The lists go on and on so we will be able to just touch briefly on some of the offerings. They offer varied options of grants and other help to create, maintain, and run the best business that you can. Help is there so check out some of these offerings and you will be surprised what is available. (more…)

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Financial Issues in Business Startup

November 15th, 2008 davidguide

A primary inhibitor of business start-up is that few people have the financial cushion to give up a job for the uncertain income of a start-up venture. In a recent survey, about 30% of new business founders identified inadequate funding as their biggest hurdle, and a similar amount said lenders were too conservative. About 15% reported being unable to find investors, and a similar amount claimed a lack of collateral.

The prospective new business owner approaching a lending institution should keep in mind the “five c’s of credit:” character, cash flow, capital, collateral, and (economic) conditions. Character consists of the borrower’s integrity, experience, and ability; particularly close attention is paid to a borrower’s credit history, which is a matter of record. Should you decide to try to fund a startup through a commercial lender, the remaining criteria are addressed in the loan request. (more…)

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Government Grants For Women In Business

November 15th, 2008 davidguide

The numbers do not lie, more women then men start-up new businesses and successfully run existing small businesses every year. In fact they have a nearly 75% better chance of succeeding in their business ventures then men do. One of the best ways to ensure this success is to seek out and receive one of the many government grants for women in business.

Why are grants for women in business a good idea? To answer that question lets look at how most small business are started and financed. Most entrepreneurs will go to their local bank and take out a business line of credit, usually putting their home up as collateral. The second choice is to find someone or a group who is willing to invest in the idea with cash up-front. (more…)

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From Small Business to Big Business – Starbucks Corporation

November 14th, 2008 davidguide

When we think of Starbucks today we think of one thing coffee. Or more specifically some form of Mocha Latte or Frappuccino. Although many coffee companies have done fairly well in their own right during the last decade and a half Starbucks is by far the leader of the pack. And what started as a small unknown coffee shop in Seattle, Washington in 1971 has grown into the global leader of coffee today. All because of the vision of one man Howard Schultz.

Now to be perfectly clear about this Howard Schultz is the man that had the vision of what Starbucks could become but he is not the founder of Starbucks. That title actually belongs to three other men. The three men are Jerry Baldwin, Zev Siegel, and Gordon Bowker and they are the actual founders of Starbucks. Now the original Starbucks was a bit different than it is today. (more…)

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The True Concept of a Coffee Specialty Shop

November 14th, 2008 davidguide

Gourmet coffee comes in all shapes, sizes, tastes, smells, and price ranges. It may seem obvious that the higher the price, the better the quality. However, this is not always the case when considering gourmet coffee. Who decides the best gourmet or specialty coffee is the coffee drinker: you. Tastes and styles differ form one person to the other. In addition, tastes and styles are not dependent on the price tag of the coffee. Coffee specialty shops offer the coffee drinker a chance to experience all qualities, styles, and tastes of gourmet coffee through a trial and error method. This proven trial and error method allows even the fussiest of coffee drinkers to choose a gourmet specialty coffee that is perfect for his or her lifestyle.

Coffee specialty shops are often a franchise business owned by major corporations. However, many of these fine specialty coffee shops are privately owned and ran by smaller groups of people. The benefits of both the corporation and the small business are completely different. (more…)

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Entrepreneurial Transitions

November 14th, 2008 davidguide

Once you undertake the development of a business you utilize a variety of entrepreneurial skills. You find yourself working hard to keep things going, but there’s a real sense of satisfaction in the work.

Recently I was told of a woman who had started her twenty-first business. In each case the business was related to cooking. The good news was this woman was a capable businesswoman and an excellent cook.

The problem for this woman was that she got tired of running a business very easily. She would get a business established and grow weary of the day-to-day grind and would set a date to close the doors. Her husband was a carpenter and had systematically refurbished twenty separate properties for his wife’s business ventures. (more…)

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Evaluating an Opportunity

November 14th, 2008 davidguide

Business opportunities are often based on broad trends, such as:

• demographic, such as the “graying” of America (creating opportunities in health services, for example);

• sociological developments, like the “green” movement, with its emphasis on recycling and environmental sensitivity, and;

• cultural changes caused by changing economic conditions and technological developments.

Opportunities can also frequently be found in current and developing business trends such as:

• the globalization of business,

• the need for outsourcing created by downsizing, and

• the burgeoning service economy. (more…)

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Let the Market Speak!

November 14th, 2008 davidguide

The first and most logical step in whether or where to start a business is to conduct a market analysis. For a retail business, a few general locations should be chosen for detailed analysis to identify where the opportunity is greatest.

A market analysis is a study of the market area and of probable future patterns. It should include the current state of the market, and the nature and extent of competition. The purpose of the analysis is to make it possible to develop more accurate, that is, more fact-based sales forecasts. The method is to identify the pattern or trend of sales over the past and to use this information to project or estimate sales for the period ahead. (more…)

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