Post about "Marketing"

Small Business Ideas – Phases and Basics

Most small business ideas are born out of inspiration, frustration, circumstances or almost any reason other than well thought-out logic and plenty of pre-planning. How about your small home based business idea?As a result, the ever cycling phases of plan, finance, start, run, grow, sell are random and chaotic. Each phase is dealt with, if at all, in a reactive mode rather than a responsive mode. This pattern seems to work as long as you see your small home based business as a source of wages versus a business entity responsible for making a profit with your “wages” being paid as part of the business’s employee overheadA few small business owners eventually break out of this mode and into a true business ownership role where they begin to, as Michael Geber described in his classic book “The E-Myth”, work on their business rather than in their business. This transition can be difficult for many because it requires some forward thinking and functional discipline. In other words, you’ve got to think about the future not just react to it. You need to focus on the basic business functions and how to apply them to your business at every phase of the business cycle.A simple way to begin your move into the role of true small business owner is to become familiar with six phases of the small business cycle and the eight business basics you’ll need to apply in different ways at each of the six phases.Small Business PhasesThe six business phases are plan, finance, start, run, grow and sell. Typically, small home based business owners attack the phases of business development in order of their own strengthens or the greatest source of pressure. It takes a strong sense of discipline to move through each phase in logical order. It’s not a matter of slowing your small business down, but, rather, accelerating its success and profitability by not skipping a step and moving from one to the next.Small Business BasicsIn different ways in each of the phases you always be dealing with each of the eight business basics of objectives, management, finance, personnel, marketing, operations, production and resources. Each small business basic is a point of education and implementation for new small home based business owners. Think of each basic as a function to learn about and a section in your business plan. Learn about each basic and then take your own current or projected data and move it into your small business plan.It takes time and discipline to cycle through each of the business phases and master all of the business basics but the rewards for most small business owners are success and profitability. Your small business idea is too important to penalize yourself by not earning those rewards. Start right now by assessing what phase your small home based business is in and what basic needs your immediate attention.

Short, Intermediate, And Longer – Term Impacts On Home Sales, When Rates Rise!

For many reasons, some, economic, while others, related to the pandemic – related, so – called, fatigue, etc, home prices, in most areas, have gone up, at, or, near, record amounts! Because of the prolonged period of artificially – created, low – interest rates, mortgage rates, have been at historic lows! Since, for most home buyers, using financing is essential to affording a purchase, when a low rate, causes cheap money, and, thus, the ability to afford more home – for – the – buck, prices usually rise! It permits qualified buyers to qualify for more money/ loan, because the ratio of monthly mortgage, to overall income, is artificially – reduced! How long will this trend continue, will it become the new – normal, will previous trends/ cycles return, and how will pricing be affected, in the immediate, intermediate, and longer – run, are, all factors, to consider! With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, some possibilities, to consider, and understand.

1. Short – term: Since, the Federal Reserve Bank, announced, they planned to raise rates, three times in 2022 (of course, this was before the potential implications, and ramifications, from the Omicron variant), many feel pressure, to act quickly, to take advantage of today’s low rates, before they go up! Three increases will probably translate to, at least, a 0.75% higher rate, which will translate, for most mortgages, to hundreds of extra dollars, per month. Some things to consider, and pay attention to, is, this rate of increased home prices, will, probably, not continue, especially, at such a large degree! How longer one, expects to keep a specific house, is, one issue, to consider, thoroughly, and wisely, before proceeding!

2. Intermediate – term: Although, many believe, to – know, the precise timing of any projected rate – hike, is uncertain! The Fed has changed, and/ or, altered its strategies and approaches, in the past, What the intermediate – term, may bring, including potential inflationary pressures, how long the economic conditions, and unknown factors, related to the pandemic, etc, will determine, largely, what this phase, may bring! In addition, the attitude, and perceptions of buyers, and their confidence, etc, largely impact this real estate market!

3. Longer – term: In the longer – run, will things, restore, to what we have seen, so often, in the past, which is, alternating cycles, between, Sellers, Buyers, and Neutral Markets? The possibilities, include: a continued large escalation; a more – gradual, but persistent – one; some leveling; and/ or, will we see, at least, in certain areas, some sort of falling prices, for a period.