August, 2009

Ways People Mess Up When Establishing Multiple Streams Of Income

I was recently at a networking meeting and met a really nice woman. After several minutes of conversation, I asked her what she did. She excitedly launched into how she was a real estate agent, but that was slow right now, so she was going back to giving massages, but she was also selling Mary Kay cosmetics.

While I was trying to process all of those unrelated businesses, she dug into her purse and handed me a card that listed her as an Ambiance Coach. I questioned her about that since it didn't seem to fit with any of the businesses she'd mentioned. Amazingly, she said, "Oh, I'm also a distributor for PartyLite Candles."

Doing four totally different businesses with different target markets is the wrong way to establish multiple streams of income. Why?

GoGreenGo -- Putting the Idea Cafe grant win to work!

Editor Note: As a rule, all Idea Cafe grant winners provide monthly reports on how their business is doing since receiving Idea Cafe's Grant. Here is the first update from Susan Jenkins, owner of GoGreenGo, where she passes on her business wisdom and entrepreneurial spirit, and shares thoughts on how to use the grant money most effectively to take her business to the next level.

Are You Ready To Start A Business?

Are you ready to start your own business? A lot of people feel they are, but they haven't considered what running their own business will really entail. They are interested in setting their own work hours, not having a boss and having unlimited income potential. These items are the rose-colored glasses of owning your own business.

I'm going to share with you the five reality check questions I ask my fledgling entrepreneur clients.


Factoring: A Viable Alternative to Venture Capital

In today’s difficult credit environment, companies are turning over every stone and looking in every nook and cranny in their efforts to obtain the financing they need to grow and prosper.

Skip Green sees it first-hand. The founder and president of Alden Green, Associates in Oakville, Ontario, has been helping companies obtain financing for nearly two decades. The primary financing tools Green recommends are venture capital, private or angel financing, government guaranteed loans and grants—and factoring.

September 1st, the Deadline for Grant Applications, Approaches

The deadline for grant applications is fast approaching.

There are only seven days left before the clock strikes midnight on September 1st, and the Idea Cafe's new $1,000.00 Small Business Grant closes for applications.

Recession Strategies: Cut Costs Strategically

OK, so we’re in a recession, and a really bad one at that. Ask the experts how long it will last and you’ll hear everything from 5 or 6 more months to 5 or 6 more years. One thing is certain, though—everyone agrees that it won’t last forever.

So what do you do with this not-so-helpful bit of information? Here are a few ideas for ways to avoid some of the common mistakes of past downturns—and get a head start on your competition at the same time.

It Starts With Cost Control

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All Idea Cafe regulars,

Recently my business and I had the honor of being named a finalist along with 49 other exceptional businesses and there leaders in the Entrepreneurial Spirit 2009 Grant contest hosted by Idea Cafe. I congratulate Susan Jenkins of Go Green Go on a wonderful win with a brilliantly conceived and executed concept.

When I entered in the grant contest I did not realize the level of exposure I would receive within the business community, major search engines, business websites, etc. The exposure not only increased site visitors but amplified the demand for our website services, ultimately growing our revenue.