Opening A Dollar Store – The Risks of Your own Business

Are you considering opening a dollar store? If so, have you examined all of the risks that you will face by starting a business of your own? Have you determined that those risks are simply outweighed by the rewards of business ownership? Most true entrepreneurs carefully analyze the situation. After that analysis they determine whether they will or will not be able to overcome the risks. Finally they assess whether the rewards outweigh the time, effort and money that is required to address the risks. They determine that they can and will be a success in their operation.

As with owning any business, dollar stores involve both risks and rewards. Just what are the risks associated with opening a dollar store? The personal risks can include personal sacrifice, cash investment, personal guarantees on financing, hours and hours of hard work and more. Business risks include those associated with competition, financing, and management of the business. Careful examination and analysis of the risks is required of the entrepreneur who is opening a dollar store.

All potential risks need to be identified and then strategies for minimizing those risks need to be developed. The question is really whether the risks can be minimized to the point that they will not be a risk to business success. Those risks must also be outweighed by the rewards. Only then should opening a dollar store be seriously pursued.

Are you considering opening a dollar store? If so, carefully identify the risks associated with moving forward. Develop strategies that will allow you to address, or at least minimize the risks. Then assess whether the risks are outweighed by the rewards.

To Your Dollar Store Success!

Dollars From Home With an Online Business

Working from home sweet home gives the average head of household the unique change of producing home dollars for the family under matchless working conditions and privileged environment.

A home based online business has a lot of appeal for many people that sincerely would like to dedicate a full time schedule to make an honest attempt to achieve financial freedom, or as a part time to bring in some extra income.

The likelihood of earning those sweet home business dollars has been greatly increased by the development of existing online technologies and the advantages achieved by the introduction of new Internet technology and its applicable marketing techniques.

The natural appeal of starting an online business resides in big part on the many advantages it offers to the potential home worker. Any person able to become a home worker experiments an absolute change in its lifestyle, starting with the working atmosphere. No face to face encounters with yelling bosses, frustrated and/or uncooperative coworkers and demanding costumers. The desperate attempts at punching in and out on time have totally disappeared; the annoying obligation of keeping rules ranging from neatness to break times is not longer required, much less enforceable, unless of course they are self-imposed.

The ever increasing burden in time and money that commuting to and from work represents, has been normally replaced by short walks inside familiar walls and the occasional stretch. No more gas money nor traffic jams; less expenses, and more time with loved ones. These are definitely some advantages that any home worker takes into consideration when planning how to start a home based online business.

The Internet is undoubtedly the biggest ally the work from home business entrepreneur has in reaching the dreamed goal of financial freedom and its manifested reality in the form of running streams of home business dollars.

This online wild horse has to be tamed though. Loose and out of control could run anybody over, and is of no advantage. It becomes a noble ally after being tamed and harnessed while maintaining all its natural explosive force. Any online business once changed from a wild state to a controlled one, becomes a real source of power capable of generating thousands of dollars from home.

Unfortunate for the fainted of heart, there is only one way of taking the first step, you have to step into the corral … and close the gate behind you. In the form of hope, there is an alternative to this option, the careful observation of how it’s done by people who stepped in before you.

Thus the appropriate advice for the online business entrepreneur that wants the extra income from home, should be the encouragement of learning all the possible angles and absorbing every bit of knowledge and information available on this home based business, before embarking in the untried conquest of home dollars and financial freedom.

The potential results, at financial and psychological levels, that could be obtained by starting an online business outweighs by far the initial cost resulting from any combination of money, time and effort.

Although the task remains a difficult one, as a closing and relaxing reflection for the reader consider this … How do you call the only place where you can earn home dollars in the comfort of your underwear …home sweet home ?

Copyright © F. Prida . All Rights Reserved.

Are You the Right Person to Open a Dollar Store?

Those in the business know it is absolutely fun and rewarding to open a dollar store. However, it takes a special person to excel. After all, there are long hours and the work can be very strenuous at times. And of course, there are many risks when you are in this business. These include major competitors with seemingly bottomless pockets to stand behind them, and difficulty locating the right products at the right prices to allow profits. Yet with good management, they continue to thrive and the owners are happy they chose this direction for their own business. Even today, many are examining this business opportunity. Many are choosing to start a dollar store of their own.

So, why are there so many opening dollar-store businesses now?

Limited barriers to entry
It is fairly easy to open a dollar store. There are no major barriers to getting started. For example, there are no formal education requirements. There are also no technical skills or training required to reach success. There is no need to relocate across the country to start your own business. This business is easy to operate with a little training and experience. Opening a dollar store can be completed quickly too. The only real barrier is gaining access to the cash required. Yet when compared to other businesses, even this amount is small.

You are the boss
For many it allows them to fulfill their dream of being their own boss. Finally, they can fire their boss and open a store of their own. No more being told what shift you will work and what work you will do; and all for someone else. Now the work you perform is for yourself. You are the decision maker for your own business. There is a special pride only known to those who own their own business.

Dollar store puts the fun back in business
Opening a dollar store is fun and exciting. The daily operation is challenging and yet rewarding. There’s new merchandise arriving all the time. There are customers to meet and help with their purchases. You will be able to see quickly the results of hard work.

There are challenges
While the barriers to entry are fairly limited for those opening a dollar store business, there is another side to the discussion. You need to address business challenges. You are the business manager and there are difficult business decisions to make. You will need to focus on the day-to-day operation of your business. There will be long hours and frustration as your family eagerly awaits a vacation that must be postponed because of business problems. Finally, as with all new business there are financial risk to be understood and resolved.

To your success when opening a dollar store!

Small Business Help Through the Five Universal Funnel Laws For Businesses

Years ago Sir Isaac Newton observed “What goes up, must come down” and hence we now have the Universal Law of Gravitation. Today’s small business owners can apply similar principles to their own growth and viability through the Five Universal Funnel Laws for Businesses “What goes in, must come out!”

Universal Funnel Law #1 – Every business needs a plan of action. A strategic plan that clearly articulates “Who does What by When” and may require the assistance of a small business consultant.

Universal Funnel Law #2 – Every business needs prospects. A marketing plan is a proven way to reach and begin to develop relationships with future clients.

Universal Funnel Law #3 – Every business must have sales. A sales plan along with a sale model or process works to convert prospects into actual sales.

Universal Funnel Law #4 – Every business needs customers or clients. A customer relationship plan further develops loyal customers and serves as a source for ongoing referrals.

Universal Funnel Law #5 – Every business demands dollars. A financial plan records the results of all activity.

These Universal Funnel Laws operate together and if you are a visually thinker, like myself, lay inside each other. Universal Funnel Law #1 is the largest funnel as it holds the other four funnels. As your business expands, so do these funnels. The questions to ask yourself are: Do I know all Five Universal Laws? And, more importantly, do I have plans in place to maximize my daily efforts to that my actions are ultimately increasing my business dollars?

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Copyright 2005(c) Leanne Hoagland-Smith, M.S.

This article may be freely published. Permission to publish this article, electronically or in print, as long as the bylines are included, with a live link, and the article is not changed in any way (grammatical corrections accepted).