The Secret to a Low Risk and Profitable Small Business

You, as most of the people I know, have probably flirted with the idea of having your own business. This is not only natural, this is the way to go if you really expect to grow financially.

Now, since we are no billionaires, we usually think of business options that qualify as small businesses, which will often translate into an initial investment of several thousand dollars instead or millions.

However, if the small business you have in mind requires $50,000 to start you are still looking at a very considerable amount of money, money that you will be putting at risk (because there is not such thing as a 100% fail proof business) without even having it (assuming that you are financing your business).

This is why a lot of people think about having a business, but in the end stick to the same old way of doing things (keep your job, save a few bucks and retire with a few thousand dollars in the bank), because they do not have the kind of money needed to start a traditional small business, and even if they do, they cannot afford to risk it nor they want to entangle themselves in a web of loans and debt problems.

Does this mean that you should quit on the idea of having your own business and settle of a 9 to 5 job salary for the rest of your life?

The answer is a big NO. Anyone -and I emphasize this- can start a business of their own with little to no money and take it to heights that few small businesses within the traditional business model can dream of.

The way to go in order to start a low risk yet very profitable small business (where you will be putting only a couple of hundred dollars at stake instead of several thousands) is to take your venture online, where the world is virtual but the results are as real as they get.

There are many ways to start a business operation entirely online, such as internet or affiliate marketing, online trading, e-tail and more. The reason for the low cost, low risk and high profit potential of a small business that you build and run online is that:

1. You do not need a physical location or infrastructure. This means your initial investment is nearly zero.

2. Therefore, you do not have heavy expenses of any kind, so almost 100% of what you make is a profit.

3. Your local market -if you will- is the whole wide world, or at least the whole internet surfing world, which translates in several hundred millions of people you can reach right from your computer.

4. You have no limits as to how far you can take your business, because expanding it will never pose the challenges of turning a traditional small business into a massively big and profitable one.

When you hear about people saying that they make a six figure income online, it is not fiction, it is a reality, but what is often kept from new online entrepreneurs is the fact that a small business, even if it is an internet business, is hard work and it requires time to develop and make it profitable.

However, it is a fact that anyone, absolutely anyone can do it because it is a lot easier than any of the traditional small business models and you need very little money to start, which means you will be risking almost nothing but some of your time and effort.

To learn about proven ways to successfully start a profitable small business online I advise you to read all the information provided at the: specialonlinebusinessreviewauthority.com with regards to actual tools and resources designed to do serious business using only your computer.

Small Business Plans - Top Tips

One piece of advice that is given to people regardless of the type of business or industry they want to get into is to create, and stick to, a business plan. Your business plan helps keep you on track, organized, and gives you written goals to work toward as you make decisions for your business.

When writing business plans, many people focus on the long-term, and write plans that span five years, or even longer. However, your plan can be shorter. You can write 30 60 90 day business plans to give you short-term goals for your business and help you to be more successful.

Regardless of the length of time your business plan covers, there are key elements in plans that make it comprehensive and successful.

Your business plan should start with an executive summary. This is an overview of your entire plan, and a history of your company. Next is a marketing analysis and strategies, which is your knowledge about your business's industry, any market research highlights and conclusions you have, and your marketing strategies for your company. This section may be shorter in 30 60 90 day business plans. Following the marketing analysis is a company description, including your service or product line, and the organization and management of your company. The business plan will end with your funding request, your financial statements, and an appendix that includes any other relevant information.

Though many people prefer to write longer business plans, there are advantages to writing 30 60 90 day business plans for your company. Shorter business plans allow you to take smaller steps toward your goals, which is more effective for some people. Sometimes, having bigger long-term goals can be a bit overwhelming, especially if owning a business is new to you. It can also help you keep better track of where you are in your plan, as well as where you're going.

On the other hand, there are also advantages to writing more long-term business plans. A five-year business plan, for example, allows you to think a little further into the future and think about where your company is going and your goals for its success instead of simply getting through your 30 60 90 day business plans. Some people work better if they have long-term goals they can move toward instead of feeling intimidated by the close deadlines of shorter business plans.

The important thing is to find a plan that works for your company and can help your business be successful, whether that be five-year or 30, 60, 90-day business plans.

For more information on 30 60 90 day business plans, you can visit the Business Planning page on the PracticalBusinessInformation.com website.

Helen Abbott is a full-time mum, leadership coach, internet marketer and business owner. A firm believer in 'The Secret' and living her dreams, Helen is currently on track to reach her first goal of establishing five six figure business incomes. To see what Helen is up to visit http://www.practicalbusinessinformation.com/business-management/-small-business-plan or http://www.learnfromthewealthy.com.au