Re-Introducing a Previous Business Venture

My first business adventure only lasted 9 months due to health obstacles, but now I'm preparing to bring it back! That's right! I'm prepping for a comeback! I learned a lot about running a business the first time so I feel like I'm more prepared. Here are some tips for re-introducing an old idea:

1. Do your homework...better. - The first time I was pinching pennies to get up and running and I got way too caught up too fast. This time, I'm taking a couple YEARS to gain the promotional products I'll need, legal paperwork, permissions, advertising, and basic office necessities. By slowly purchasing these products out of pocket, I eliminate so much need for financing and become more prepared. It's tough for a start-up to get financing these days so by gaining more assets out of pocket, developing a GREAT business plan, and spending more time to gain investors, I can become more successful.

2. Use past social media to gain attention - I had a Twitter account devoted to my previous endeavor so I reconnected with it by announcing that I'm working on a comeback. This will tell your loyal followers that the service/product they loved so much will be coming back better than ever. What better way to start word of mouth advertising??

3. Be prepared for failure...again. - Since I didn't have luck the first time, there's a good chance that something will happen to lower my luck this time. So the smart thing to do for any entrepreneur is to have a back-up plan in case the business isn't as successful as you plan. For my situation, I have been maintaining a home-based consulting business that enhances my income. By using that income to build an emergency savings account equivalent of six months home operating expenses, I can be prepared for job hunting if my business goes belly-up. Always have a back-up plan or you'll just give yourself unnecessary stress.

4. Shop around - Just because one company has some great deals, doesn't mean another won't have a better one. Shop around for the best deals you can find to keep your comeback cost-effective and with great quality. If you have to pay more for a service, then make sure it'll give you a better quality to increase sales. Sometimes we have to pay more in order to gain more. If you find a great deal on Craigslist, BEWARE! I know it sounds crazy, but not everyone is out to give you a great deal. Use extreme caution when buying from an individual. Some businesses sell various items you'll need when they go out of business. This can be a great opportunity but make sure the quality will last. No sense in buying cheap if you'll have to purchase it again in a year.

5. Advertise, advertise, advertise!!! - What's the key to having people know you're back? Marketing! Talk to local businesses that'll be affected by your return and look for support. In my instance, I have a sober driving business that'll need support from all the drinking establishments. So before I start, I'll need to visit with the bar/restaurant/hotel owners to gain support and maybe even investors. Use specific promotional items to get your business out there. In my case, key chains with the sober driving phone number will be the most effective form of marketing. Make sure you know how to get your word out in the most effective way. A small radio ad would be effective as well. Radio gets your business out there for a reasonable price.

6.  Be enthusiastic - Who's going to buy your service/product if you don't appear to be 150% behind it?? Make sure when you talk about your comeback to investors/consumers, that you're so excited you could explode.

I hope your comeback is successful and your business thrives in enhancing our economy. New business means new jobs! Keep up the good work!

Christmas on a limited budget

If you're like me, bills keep piling up and you haven't gotten any extra for Christmas. My medical bills are the problem. Luckily, I have a very understanding family. If you're like me and need some low cost or no cost Christmas ideas, here you go!

1. Create a coupon for a service or future event for your someone special. It could be a dinner on you in February or taking down all the Christmas decor plus cleaning. Any little help is appreciated from those who matter.

2. Check out creative sites like Pinterest for some craft ideas you can get at all dollar store. Maybe even a good food dish to bring unexpectedly.

3. If you have a long distance relative like I do, plan to visit before Christmas or at a close later date and take them out to dinner. Just being there is a great gift. If you arrive before Christmas, you can serve as a cheap delivery service back to the family. It'll save both parties a lot of money in shipping.

4. Sometimes you just have to say, "I cannot afford gifts at this time, but I can give you what I planned next month." There's no shame in admitting you are having troubles. It might even inspire your friends and family to help you out instead of giving a gift.

5. White Elephant gifts are good ideas among friends. Instead of spending a ton on each other, gift wrap a movie or decor item you have in your home that you'd want them to have. Sometimes it's gag gifts that make memories or sentimental gifts that mean so much.

Whatever you do this holiday season, don't stress. It's not about the gifts, it's about the coming together and being there for each other. Good luck!