Thinking of Running Your Own Business?

Are you thinking of running your own business?

There is a lot to be said for being your own boss, and people who run their own business may do so for a number of different reasons. Many people decide to “work for themselves” because they want to be in control of their own destiny. Maybe they have had unfortunate experience as an employee, and are determined not to suffer similar experiences in future.  There are some people who are what you may call “natural entrepreneurs”, and would never be happy as an employee. Maybe you are one of them. Some people have been born into families in which running your own business is a tradition, so having your own business seems the natural thing to do.

Whatever your motivation for going into business, in most cases you will be faced with a choice between starting up your own business and buying a business that is already “up and running.” How to choose between these two options?

You will need to consider the advantages and disadvantages of both these courses of action in order to arrive at a strategy that suits you. This article outlines a few of the factors that you may want to consider in deciding whether or not to buy a business.

One of the main reasons for wanting to buy an existing company is that if it has been trading for a few years it will have a track record of financial results, which will enable you to see whether it has been a successful business. You should be able to see historic and current turnover figures, the related costs and thus make a judgment about its profitability. Be aware, though, that a certain percentage of sales may be due to direct personal relationships with customers, and you may need to work hard to retain these.

If the business has been trading for a while it should have a certain amount of goodwill. It should have an established customer base, and also established relationships with suppliers. That is not to say, of course, that you will want to continue to deal with the same suppliers, but at least you have a basis to work from immediately you start trading.

You should be able to evaluate the trading environment of the business fairly easily. For instance, how much competition is there for the goods or services that it provides, and what is the nature and calibre of that competition? How has the business been marketed in the past,and are there any lessons to be learned from past marketing strategy? Is the business subject to seasonal variations, and what has been the historic effect of this, for example on cash flow?

These are all plus points in favour of buying a business, but you need to be aware that there are a number of possible problem areas as well.

You need to be sure that the type of business that you are looking at is one that you are going to suit you. For instance, if you are useless at DIY it may make sense not to go for a business selling tools, wallpaper and the like, as you may find it difficult to establish credibility with your customers. At the same time, the business you buy must be of a type that promises to produce successful results in the future. You will need to be able to investigate the records of the business, and arrive at a realistic valuation, and often that is not a simple matter.

Depending on the valuation, you may need to make a significant investment in the business – either from your own resources or by means of a loan. As with any transfer of assets, you will need to engage the services of professional people to represent you during the business transfer process, for example to represent your interests in some very important negotiations, to ensure that your rights are protected, and  that all the legalities are carried through properly. 

Dealing with the matters involved in the process of buying a business can be made much easier if you engage the right professional assistance, and this is where a good firm of business transfer agents or specialists can help you. Business transfer agents can deal with many aspects of the process of buying a business, from initial discussion of your requirements to finding the right business, negotiating the deal on your behalf and carrying it through to a conclusion. You are then able to be confident that you have got the best possible deal, leaving you to concentrate on your exciting plans for your new business.

Invest in the Right Commercial Truck Tires!

Purchasing commercial truck tires is not an easy undertaking. Many things need to be carefully considered before entering into the buying process. Size and type of tires that are compatible to the vehicle and its detailed description must be considered. Tread that is suitable for the truck should be determined because this can greatly affect the maximum mileage and overall performance of any vehicle.

Necessary Background Information

Before going to a retail store or shopping online for new commercial truck tires, obtaining some simple background knowledge on the type that are needed and/or desired would be beneficial. Here is some information that could prove to be helpful when purchasing this necessary vehicle commodity.

  1. Know the exact reason for the purchasing of a new set of wheels for the vehicle.
  2. Establish if an entire set will be changed or if the decision is drive vs. steer.
  3. Determine the treads that are suitable for the truck. The thickness of the tread can be a good measurement to help decide whether to purchase new ones. If the tread is less than the height of a penny, then it is certainly time to buy a new set.
  4. Check the speed rating of the current models. This can be done by looking on the sidewall. This speed rating is marked by symbols such as M, N, P, Q, R, S, T, U, H, V, W and Y. Each symbol corresponds to a specific speed rating that is essential to know in maintaining the speed capabilities of the vehicle.
  5. Make all purchases in pairs. They should be replaced on both sides to maintain vehicle balance and stability.
  6. Purchase the best quality that can be afforded. Good tires can save money in terms of fuel consumption. High quality ones have good treads which can provide better traction for the vehicle. The treads help the wheels run smoothly and give better mileage while on the road which reduces fuel costs.
  7. Confirm the correct size before buying new ones. The correct size increases the performance capability of a truck. This size can be determined by reviewing the owner’s manual, the placard on the driver’s door or the sidewall of the tire. The internet can also be used to confirm the size that is appropriate for a particular type of vehicle.
  8. Ascertain the truck’s loading capacity. Knowing the loading capacity of the truck will verify the thickness of the tires that will be needed to hold the maximum possible load.

De-coding the Letter Code on the Sidewall

What you need to know about the important alphanumeric numbers is embossed on the sidewall of your truck tires. As an example, consider: P250/70R20 110T M&S.

P – This letter refers to the Type of Vehicle for which the tires were designed. This size usually begins with P, T, and LT. The letter ‘P’ signifies that this type can be used for passenger vehicles; the letter ‘T’ denotes that it can only be used temporarily such as when changing a flat; and ‘LT’ indicates that it can be used for vehicles that can carry heavy cargo.

250 – This number refers to the tire width in millimeters; for example, the number 250 indicates that it is 250 millimeters from the outer sidewall to the inner sidewall.

70 – This number refers to the Aspect Ratio. The aspect ratio is the relationship between the height and the width of the tire. Given the example above, the height is 70% of the width.

R – This letter refers to the Radial Construction of the carcass plies. A pneumatic wheel version is composed of a carcass ply that provides support under extreme conditions. The carcass ply or main body of the tire is made of thin textile fiber cables bonded into the rubber which determines its strength. This letter can be replaced with D, B or F. Each letter signifies different internal construction of the carcass plies.

20 – These numbers refer to the Wheel Diameter. The number 20 indicates that the tire is designed to fit on a 20-inch diameter rim. This number is expressed in ‘inch rim,’ which are even numbers from 8 – 28. Heavy duty trucks have half-inch rim diameters.

110 – These numbers refer to the Load Index. The load index ranges from 0 – 279 and indicates how much weight the tire is certified to carry at proper inflation pressure. In this example ’110′ can carry a maximum load of 2,337 pounds.

T – This letter refers to Speed Rating. The speed rating indicates the maximum speed at which a tire is certified to operate. Speed rating ranges from Q (lowest) to Z (highest), with the exception of light truck versions (H) which are not rated.

M&S – These letters refers to Mud & Snow. This indicates that the tire meets the Rubber Manufacturers Association’s Standard for a mud and snow type. Variations include: M+S, M/S, and M&S.

The tires that are put on any commercial truck are the only link between that vehicle and the road’s surface. Keep this thought in mind when buying them and don’t let cost be the primary purchase consideration. Investing in quality wheels is always a wise choice for safety reasons. It is also a wise choice for financial reasons since purchasing high performance commercial truck wheels can actually decrease fuel cost and save money. Educate yourself and make a wise investment in commercial truck tires!

Internet Home Based Business – 7 Uncommon Mistakes People Make to Ruin Their Online Business

Life is short. Extremely short to make all the mistakes that we can make! The best as well as the most affordable way to go about your Internet home based business is to learn from other people’s mistakes and experiences. Given below are seven of the most common mistakes that people make which end up destroying their Internet home based business:

1. Are unsure of your goal or do not have a precise and clear cut aim

If you do not have a mission or aim, then you cannot monitor and steer your progress because you will not know which way to go! You should plan and then control the income you have targeted and want as well as your expenses budget and limits.

2. Do not reply the e-mails of your affiliates

I am very appalled that when I learn about people who run the best home based business and fail to reply and answer their e mails! Keep in mind that whenever you start leaving the response to your e-mails to your auto responder, that’s the point of time when your pay checks too will start leaving you.

3. Do not balance your profit and loss statement on a monthly basis

If you are one of the persons who never makes a profit and loss statement of your internet business, I wonder how you go about controlling your prices and budgets? Hence, this is one thing that you should do everyday without fail. You have to make a profit and loss statement on a daily basis in order to manage your budgets properly, even though you are new to this Internet home based business. The thing is that if you are dishonest and not faithful in small little things then you can not be entrusted with big things!

4. Do not invest in self-development

Self improvement is pretty expensive. However, a lack of self improvement is pretty dangerous for your business. Internet home based business is one kind of business which provides you with various opportunities and new techniques to go about doing stuff is a more inexpensive, speedy and better manner. You should continuously upgrade your knowledge by reading books, joining various forums as well as having a coach and several other ways.

5. Have several businesses at a certain point in time

It is very alluring to be a part of and to earn a lot of money through as many means as possible on the internet. But, when you begin a home based internet business, concentrate on one type of business only or rather on one business only and ensure that it creates a steady income before you become involved I any other business.

6. Not treating your internet business as a proper business

This is not just a hobby, but your profession. So, ensure that you are professional and maintain your integrity.

7. Be complacent with what you have

If you start earning, that does not mean that, that is the end of your progress, you have to keep on improving your business.