Million Dollar Business Status from Humble Beginnings ? My true story
Many of you who are reading this will identify strongly with the work situation I was in and will at this moment be thinking of breaking free of the corporate shackles and discovering the freedom of your own business.
Going back to 1994, I graduated with a university degree, for which I had studied part time for 7 years, and armed with my new qualification managed to get a position in a medium sized corporate.
By 1997 I had progressed fairly well in the company and was cruising along quite happily with fairly good prospects in sight.
Great things had been promised and my objective of getting onto the board of the company was starting to become a reality.
However as the months passed by I was beginning to realize that my future, that was in the hands of the company directors, wasn't being addressed with the passion that I thought it deserved.
My concerns were brought to the directors' attention who assured me that I had nothing to worry about, but needless to say more time passed without my corporate future being settled.
Looking back now, I can categorically state that I owe my directors a huge debt of gratitude because it was their lack of urgency that decided me to take my future into my own hands, which was the best thing I could have done.
Once I had made my decision I didn't even want to wait until the January so that I would be assured of getting my Christmas bonus, which is a common strategy employed by resigning employees, but left the corporation as soon as I could and at a time that wasn't ideal for starting a new business.
So after resigning at the end of August 1997, amid howls of protest and promises of a ?bright' future blah blah blah, I upset my now ex-employers even more when I announced that my right hand man had furnished me with his resignation as he was coming with me.
During my notice period I had registered a trading name, founded a
corporation, located suitable offices and formulated a 12 month budget.
So come 1 September 1997 the 2 of us sitting in our new company offices with no assets (save for a bit of office furniture) no customers and no telephone lines.
Although the initial capital investment and risk in this business was almost zero, I personally had had to take out a bank overdraft to tide me over for 6 months ? after that my funds would have dried up so this business just had to work!
Anyway to cut a long story short we put our shoulders to the grindstone and slowly started to build a client base who we serviced with contractors, thereby ensuring a variable operating cost.
After the quiet Christmas period it was apparent that the model I had chosen for this business was going to be effective and profitable.
This model in a nutshell was to employ variable resources, including people and vehicles, to supply the service in our industry and to not own any assets. This strategy ensured our fixed overhead was very low and that operating costs would be linked to turnover.
This model proved to be successful on a financial front, ie zero activity = zero cost to us, as well as on a customer service front as our contractors were hand picked and highly customer driven.
In March 1998 I recruited a person, who at one time worked for me in my corporate life, to head and drive our sales and marketing effort.
So now there were 3 of us shareholders of the business and the rest of the personnel were made up of contractors.
Whilst our target market was very specialized it was also at the premium end of the services in our industry, which meant that it was highly profitable and not volume driven.
Because of the premium nature of our service it meant that to make $x,xxx we had to perform 1/100th of the amount of activities our competitors were having to perform.
This gave us the added advantage of making our business easier to manage and extremely service focused.
By the end of 1998 we employed a receptionist come operations assistant. This was our first permanent employee whose salary was highly incentivised to ensure we got the best out of him even if we had to pay double the amount we normally would have paid. It was worth it ? rewarding people for the correct behaviour is such an easy way to get people to do their jobs properly and passionately.
During 1999 our client base consisted of only 10 ?blue chip' clients and a number of smaller ones but by the end of the year each one of us (3) had reached millionaire status thanks to the business.
From 2001 onwards we were turning over more than a million a month (with a 50% margin) which ensured that all stakeholders in the business did exceptionally well.
At the end of 2003 I sold my stake in the corporation, which ensured my multi-millionaire status and I now run a similarly structured business that I set up in exactly the same way but with different personnel in 2001.
I have also been bitten by the internet bug and have started my own internet business to which I now devote a significant amount of my time.
In conclusion the business model I employed to change my life is one that can be used in many industries and can enable anyone to start out with low capital investment, low risk but with a real opportunity at huge success..
Jelly Mom Helps Kids In A Jam
Salinas, CA (ContentDesk) February 1, 2006 -- Syndicated columnist, Lisa Barker, creator of the award-winning parenting humor column, "Jelly Mom"," has just released her first book:
"Just Because Your Kids Drive You Insane...Doesn't Mean You Are A Bad Parent!"Based on the popular column, the book is chock full of Barker's imaginative wit.
She covers all the bases from toddlers to older kids, from staying at home to venturing out in public, and last but not least, a parent's mental and physical health.Fans of the column have this to say about Barker's writing:"You have got to write more of these! I nearly wet myself laughing and woke the baby! But they were worth it!""I soooo love how you write! You give such great visuals and are they ever funny!""I read some of your stories to a friend of mine and she was killing herself laughing!"When asked why she chose The Hugs and Hope Club as the beneficiary of the book's proceeds, Barker said, "My own four-year-old daughter has...
Christmas > Jelly Mom Helps Kids In A Jam
Craft crocheting from your home
Crocheting is not only a craft but an art. Once you master the basic stitches you will be well on your way to creating masterpieces you will be pride to share with your family and friends. Anyone can learn to crochet as long as they put their mind to it. Before you run out and buy your crocheting supplies decide what you want to crochet first. According to the item you choose, you will need different size needles and yarn weight.
All this information is with the patterns and you will see just how easy it is to achieve your goal of crocheting your first work of art. You will be crocheting from toys to sweaters in no time. There are so many different items you can crochet. There are snowflakes for the Christmas tree, sweaters for your best friend, and house slippers for every member of your family. You can even learn to crochet baby bibs, blankets, and outfits.No matter what you choose to crochet you will find everything you need on the Internet! No need to leave the house.
Craft crocheting from your home
Christmas > Craft crocheting from your home
12 Ways of Christmas Toy Reuses
(ContentDesk) December 6, 2005 -- Science writer Cy Tymony reveals simple methods to reuse damaged or discarded Christmas toys.After Christmas tons of damaged toys and packaging materials inevitably find their way into our already overflowing waste dumps. It's tempting to discard seemingly useless items but if you do, you'll miss out on some great adaptation opportunities, as well as a chance to help the environment. How? Convert them into other useful items in a "sneaky" way. Cy Tymony, author of "Sneakier Uses for Everyday Things" (Andrews McMeel Publishing), explains how to recycle old toys and household items into practical devices. "With a little knowledge, simple and high-tech toys - even damaged ones - can be used for amazing and educational purposes," Tymony says.
"It costs next to nothing to do, so it's almost a crime to send reusable items to landfills."Tymony gives his 12 sneaky reuses for common toys and household items in keeping with the "end-of-year list" season:Boomerangs...
12 Ways of Christmas Toy Reuses
Christmas > 12 Ways of Christmas Toy Reuses
New Fall Bead Embellished Accessories Let You Stay Warm...In Style
(ContentDesk) October 5, 2005 -- Toronto accessories designer Mary Rajotte knows winter.
Growing up in the Great White North has taught her a thing or two about how to dress when the mercury falls.
It has also made her realize that one doesn't have to be unfashionable to be warm.Out of this knowledge and experience, collarettes were born.
Not quite a scarf, but definitely just as functional as one, Sparkle & Shine Design's mini-collars are hand crocheted and embellished with dazzling glass beads. Scalloped edgings, also beaded, add a touch of the girly-girl without being over-the-top cutesy."There are three great things about our collarettes," Mary says.
"They are not as bulky as a full-blown scarf. They are all made with cotton yarn to keep you warm. And they are definitely more fashionable than that polyester one you got in your stocking last Christmas!"Current designs available now at www.sparkleandshinedesign.com include the Valentina - a fashionable...
New Fall Bead Embellished Accessories Let You Stay Warm...In Style
Christmas > New Fall Bead Embellished Accessories Let You Stay Warm...In Style