Home Based Business Opportunities For Women – Are You Daring Enough To Take Advantage?

The key to stress-free living is to find the balance between your work and your home life. Running a home based business gives you the freedom and independence to financially support yourself while allowing you to spend more time doing what you want to do. As the owner and manager of your business, you have the power to make managerial decisions regarding the direction of the business and make your ‘work schedule’ fit into your schedule. With the use of advancing technology, the number of home based business opportunities for women is unlimited. You can take advantage of these opportunities and with careful planning, and determination, turn any idea into multiple money making streams of income.

Many legitimate home opportunities for women have low start up costs. Often after few months the business profits exceeds the amount paid in start up costs. Due to the nature of the business, you never have to worry about requesting time off and missing important events since you have the ability to work from anywhere at any time. In home businesses provide an instant source of income that allow you to determine how frequently and how much you are paid.

Although you can operate certain businesses inside your home such as an answering service, a home-based child care center or provide in home training, the most lucrative businesses are online businesses. You don’t have to worry about damage to your home, and online businesses allow you flexibility from day to day. When you are working online from a computer, your overhead cost is minimal.

Through the use of the invaluable internet, you have the ability to tap into unused and underused markets. Developing your business and marketing online helps you reach a wider scope of customers, thereby increasing your profit margins. If you go online and do your research, you’ll find plenty of online tools and resources available to help you build and maintain your website as well as teach you how to direct your traffic to your site.

Home based business opportunities for women are for the serious minded woman who is independent, fearless and not afraid of taking risks–or testing her ideas. This is a woman who knows no matter what it takes, is willing to learn how to run and operate a successful business, because she knows that a successfully run business will eliminate her financial worries associated with today’s unstable economy. So now that being said…ask yourself…are you this woman?

Yes anyone can start a home based business. You don’t have to be a specialist, but to be successful, you must be a self-starter, motivated, business-minded and determined individual. This combined with a focused mind and effective marketing, are the pillars that you need to insure your success. Are you ready to get stated?

Doing Business in China – Company Structures for Foreign Enterprises

There are only three paths for foreign investors to start doing business in China. The options are simple; you can open a representative office, a wholly owned foreign enterprise or you can run a joint venture with a local partner. Here’s a brief guide to each and their pros and cons.

Representative Office

A representative office requires an established overseas entity which should have been trading for at least two years (though this can be circumvented by buying an “aged” off the shelf company). Occasionally this requirement is ignored by the licensing authorities but there are no guarantees of this.

The representative office is allowed to establish an identity in China and to conduct negotiations with local businesses and pay invoices. It is not allowed to sell products in China or to hire and fire staff (any staff you need will be selected by the local authority and will cost you more than if you could hire direct).

Pros: In principle it’s a quick way to start a business, it enables you to do business in China legally

Cons: In practice it’s expensive, you lack control over your workforce, and you can’t sell anything locally

Wholly Owned Foreign Enterprise (WoFE)

We’re told by Chinese lawyers that this option is almost always chosen over a representative office in practice. A WoFE allows you to run your own business in China with total control over practices such as hiring and firing and where you can establish your office etc.

Because of the level of control granted to the owners many expatriates swear blind that this is the only or best way to do business in China. However it’s worth being aware that there are certain sectors in which WoFE’s may not be set up and others where the competitive nature of your business may be severely damaged by being wholly foreign owned.

Pros: In practice it’s cheaper to set up than a representative office, it offers you complete control over your business, you can hire and fire staff, setting up a WoFE is uncomplicated if a little time consuming

Cons: Lacks access to certain sectors, cannot qualify for state grants or subsidies which may be commercially damaging particularly if your business is in a “five year plan” focus area

Joint Ventures

A Joint Venture is a commercial entity that is jointly owned and managed by a Chinese investor and a foreign one. There’s been an enormous amount of media attention given to the difficulties faced by early investors in the country when starting a joint venture.

Certainly it ‘s not the easy option for conducting trade in China however joint ventures offer enormous opportunities for those willing to overcome the cultural hurdles, they qualify for subsidies in priority sectors and are well regarded by the state which may make certain barriers to business easier to overcome.

Pros: Qualify for subsidies, easier to overcome bureaucracy, will certainly have better connections for doing business inside of China

Cons: Can be a nightmare of culture clashes, partners need to be chosen carefully or you can end up with two organisations under one roof, require a high-level of co-operation and communication to be successful

The best place to start if you’re looking to set up in China is by talking to a local lawyer who can walk you through the options and the costs and give you an insight into local regulations and policies which may influence your decision.

Top Four Principles of Strategic Business Consulting

The key to the success of any business, big or small, is having a strategy. A plan that states what a company is working towards and what it has to do and keep doing to get there. Most companies cannot conduct the in-depth analysis required to create this strategy for all functions in their business and thus seek strategic business consulting from people who can.

Strategic business consultants thus need to be able to understand and see a business better than the owners themselves. They need to get a complete grasp of what the business is. Marketing consulting firms too, require a similar understanding and grasp of the company as they also are planning for the future of a company.

The Principles

The first principle thus becomes that when you are planning a strategy of the company you should know that company and that business inside and out. You should have thorough knowledge of –

· What that company does,

· Who are the people that it does it for &

· What is it that makes them different, what is their USP?

The second principle is to know the business sector in which that company works. You should have an acute perspective of the past and future trends of that business sector. It is only if you know the history that you can plan for the future.

The third principle is to find the current management trends and without hesitation point out the flaws and rectify them. Know –

· How is the cash flow managed, how should it be managed,

· How are the employees managed, how should they be managed,

· How do they manage customer expectations?

The fourth principle is all about the attitude that a strategic business consultant must have and must be able to instill in the company that takes the consultation. It is the attitude that will allow for both realistic and daring goals to be set and create the mindset required to be able to achieve those goals.

An attitude of perseverance and integrity is requires for a strategy to be successfully applied. Applying a new strategy and making changes will be met with various hurdles. These hurdles need to be crossed no matter what. It requires a go getter attitude to go through with a strategy and stick to it. To make sure that the attitude receives positive reinforcement set both short term and long term goals.

Finally neither the consultant nor the company should be daunted by anything. Fearlessly put both yourselves out there in the market and the working environment to meet your goals. Following these will mean success for both business and consultant.