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This article will help aspiring entrepreneurs assess the benefits and drawbacks of buying a business and starting their own.

 

You’ve been working in the corporate world for years, and as you’ve advanced through promotions, you’ve learned more about the ins and outs of running a business. You’re interested in owning your own company, but you’re debating between launching your very own business or buying an existing one.

 

If you’re torn between two options for business ownership, you might benefit from creating a list of pros and cons for each option. JGMobileApps.com goes over the perks and downsides of buying a business.

 

Pro: Avoiding Startup Basics

 

If you want to open your own business and build it from the ground up, you’ll be responsible for a long list of administrative obligations. This includes registering for your preferred business structure, seeking outside funding or applying for business loans, opening a company bank account, getting set up with payroll, finding an accountant, and more. When you buy a business, you’ll be able to avoid most of these tasks.

 

Con: Tweaking Existing Strategies

 

By buying a business, you can skip over some of the logistical tasks that come with launching a startup. However, you’ll still need to tweak and adjust some existing internal strategies. For example, the company may be relying on an outdated marketing strategy, which you’re now responsible for updating.

 

Incorporating social media marketing into a lackluster advertising strategy can help you reach new audiences. For instance, you may want to start a promotional YouTube channel, where you can host videos showcasing your products and services. This will direct more traffic to your website. A YouTube banner template can help. Picking one of these templates gives you an excuse to get creative! If you want to display a personalized banner on your channel page, you can use an online banner maker. You’ll be able to customize the banner with your logo, text, and favorite font.

 

Pro: Positive Cashflow

 

If you’re taking over a business that is already operating, this company will likely have a positive cash flow already. This is a huge bonus for entrepreneurs, as establishing a healthy cash flow is one of the most challenging aspects of running a brand new startup. While you’ll still likely want to boost the company’s cash flow after you assume leadership, you’ll be off to a head start compared to someone who is opening a brand new business.

 

Con: Difficulty With Valuation

 

It’s easy to assume that a business will be profitable from the outside – but the difficulty of receiving an accurate valuation is one of the downsides of buying an existing business. To really figure out how much a particular business is worth, you will want to hire an appraiser. However, you can come up with an informal estimate on your own by researching businesses of a similar size in your area. You can also look into the company’s pre-tax and post-tax earnings, as well as assess how much its assets are worth.

 

Pro: Ready-Made Supply Chain

 

As a new business owner, you need to put a lot of effort into establishing a reliable supply chain for your company. It can take quite a long time to find trustworthy suppliers who consistently deliver the materials you need on time. But when you buy a business, you can utilize the supply chain that the previous owner created. While you’re free to research new suppliers as well, this is definitely more convenient than building a supply chain from scratch.

 

Con: Outdated Processes

 

Yes, setting up supply chains and other business processes on your own is difficult – but at the same time, so is improving outdated processes. When you take over an existing business, there’s a good chance that some of its processes will need to be enhanced or overhauled altogether. You may also need to purchase new technology for better efficiency. Frevvo suggests identifying a process to improve, targeting bottlenecks, mapping out a revised new process, and then testing it out and adjusting it as necessary.

 

Pro: Plenty of Clientele

 

An existing business already has its own clientele. You won’t need to build up your customer base from nothing. Naturally, the current customers will expect a certain level of service, so you’ll need to work hard to meet their expectations.

 

Con: Lack of Experience

 

Yes, you have experience working for someone else, and maybe you’ve even run your own side hustle before. But when you’re buying a business, your lack of experience can hurt you. There isn’t as much room for learning as you go, because the wheels are already in motion, and you will have a staff and clientele depending on you from day one. You may not even realize which areas you’re inexperienced in until you start running the business.

 

Pro: Established Staff

 

Hiring a great team is one of the biggest challenges that business owners face. If you buy a business, you may have the option to retain the current staff. This can save you lots of time, and it means that your team will already have a deep understanding of company operations and processes.

 

Con: Finding Acceptance as a Leader

 

Stepping in as the new leader in an established business can be hard. You need to work to earn the trust of the staff. To get to know your new team better and establish yourself as a leader who cares, Quiet Light recommends speaking personally to the staff so that you can get a sense of who is committed throughout the transition. Keep your performance expectations clear, and ask them to document current processes as well as their personal goals so you can get on the same page.

 

Buying a business is a major undertaking. While it can be easier than starting a business in some ways, this process can also pose some unique challenges. Before you invest your money in an existing business, it’s important to go over all of the potential pros and cons of this big financial decision. With these guidelines in hand – including tweaking strategies, boosting cash flow, and having a social media presence with ads on platforms like YouTube – you’ll be able to make a smart choice for your entrepreneurial future.

 

Photo via Unsplash

Starting a business is a complicated enough endeavor, but if you’re trying to start a home-based business while moving to a new house at the same time, you’ll need to plan the move carefully to ensure smooth sailing. Whether you’re planning to become a coderpreneur in Fort Worth, Texas, or whether you want to start a home bakery in Boston, Massachusetts, these five tips can help you pull off this major move as easily as possible.

 

  1. Take Your Time Finding the Right Home to Purchase That Can Accommodate Your Business

If you’ve already started up your company out of your current home, you may have realized that your present accommodations aren’t quite adequate to suit both your personal life and your work life. If that’s the case, you may need to buy a new home that has space for your new company.

 

When shopping for your new house, take your time looking for a place that can accommodate your growing business. You should prevent financial mishaps by figuring out what you can realistically afford, securing mortgage pre-approval, calling up a real estate agent, and browsing all the options on online sites.

 

  1. Search for Key Home Features That Can Provide a Full Business Setup

According to one study, your home situation can take a significant toll on your mental health. To stay well and make the most out of your at-home workday, it’s important to find a house conducive to running a business. Search for home features that can support a business setup. These features could include:

  • A dedicated home office room
  • Built-in bookshelves
  • Computer hookups
  • Sheds or woodworking shops, for some businesses

 

  1. Plan Your Home Business Launch or Transition Carefully

Whether you just started your company or will start it as soon as you move houses, having a successful launch can give your business the momentum it needs to gain ground in the industry. That’s why you should plan the launch carefully.

 

Allow yourself a couple of weeks after the move to launch the company, if possible. This will give you time to get settled in. You should also set a working schedule, have a well-appointed workspace set up, have a business plan drafted, and have some basic market research done.

 

  1. Create a Moving Day Schedule to Help Simplify the Process

Planning out your moving day schedule can also make the tandem transition to a new home and a new business a little easier. Before moving day arrives, consider aspects such as:

  • Packing
  • Labeling boxes
  • Scheduling movers
  • Hiring trucks and other moving vehicles
  • Scheduling the house closing

 

  1. Separate Your Workspaces and Living Spaces to Create a Better Work-Life Balance

Finally, once you’ve purchased your home and are getting settled in, creating separate areas for your business and personal life can help support a healthier work-life balance. For example, you may wish to:

  • Place your home office or business center in a closed-off room, if possible
  • Keep work items out of your bedroom, living room, and other personal spaces
  • Work with the doors closed and shut the doors when the workday is done to create a mental separation

 

If you’re planning to buy a new house and start up your own home-based business at the same time, careful planning is key to ensuring a smooth and measured transition. With these straightforward tips, you can make the shift to a new home and a new business base as quickly and easily as possible.

Coderpreneurs are programmers who use their passion for coding to become entrepreneurs. As more and more businesses require the help of tech-savvy individuals to launch their companies, there’s never been a better time to become a coderpreneur. Presented below by JG Mobile Apps, this guide walks you through everything you need to know to become a coderpreneur and start your own coding business, so you can make money doing what you love.

 

Why Every Business Needs a Coder

 

In today’s internet-centric world, nearly every company needs web development. Without coding, businesses lose out on enormous opportunities. Each company needs someone who can code its website and maintain it (or update it) as new technologies emerge. 

 

How To Get Your First Client

 

When starting out, getting your first clients can be difficult. To boost your chances of securing clients, try picking up some freelance work with an agency in your area. Freelancing can help you gain experience and confidence until you feel ready to begin by yourself. 

You may be able to find clients through word of mouth. Ask your friends and family if they need a website, and try marketing to local businesses in Fort Worth, Texas. Reach out with an introductory email about what you do, and see if they need help with their website.

 

How To Market Your Business

 

No matter what type of business you’re starting, marketing is key. This includes everything from creating logos to establishing social media profiles. The most important thing to remember when marketing is to focus on what your customer needs. By understanding your ideal customer, you can tailor your business accordingly.

 

What To Charge and How To Keep Happy Clients

 

Before taking on clients, you must have at least one project under your belt. Experience can help you decide how much your time is worth and establish a base rate. Start small — $30 per hour is okay at first — and make sure you have contracts signed before you start work. Contracts specify all the relevant terms, helping eliminate misunderstandings and protecting you and your client in case issues arise.

 

Have an Invoicing Process

 

When you have your own business, it’s vital to have an invoicing process in place. Invoicing helps ensure you get paid on time and keeps track of the work you’ve performed.

An invoice generator offers you a way to produce professional-looking documents that match your branding, including logos and photos. You can customize how much information appears on the invoice and how it looks. Find an online invoice generator that also makes PDFs of your invoices, so it’s convenient for you and your clients.

 

Provide Stellar Customer Service

 

Be kind, respectful, and honest in all your dealings. To stay ahead of your competition, you need clients who keep coming back. Clients may look for other options if they feel they’re not getting enough value from their investment. If you can provide them with professional projects and stellar customer service, however, they’re likely to stick around.

 

Today’s Digital Marketplace

 

Everyone needs a coder in today’s digital marketplace, but many small business owners don’t know where to start. That’s where you come in to offer your service.

Be sure to visit JG Mobile Apps if you need a professional app developer.

Are you experiencing burnout? What is burnout exactly? 

 

“Did you find that you are losing passion for coding? Did you find the spark of motivation is now missing somewhere for coding? Did you find that you are overloading yourself with so many tasks but you are not achieving anything due to so much stuff? There are so many tabs open in your browser but you can’t concentrate. Well, these all symptoms are the sign of burnout in programming.” -Geeks For Geeks

 

I have been going through burnout lately without even realizing what it is. For whatever reason, I couldn’t focus on my projects the way I’ve done in the past. It was as if someone stole my motivation right under me. I would stare at the code and have no desire to do anything. 

 

After questioning what was going on, I’ve done a few techniques to hit that reset button in my own unique way. 

 

Detox Your Body, Mind, and Soul

 

Our bodies are over-consumed by heavy metals, chemicals, chemtrails, toxins, and pollen in our air and modified foods. Because of this, we need to detox it out. For whatever reason, it seems our gov wants to make humans extinct with all these poisons.

 

“The world is being polluted in so many ways with heavy metals, mostly due to human contamination, that it is affecting the health of so many people. All these diagnoses should go on to make us aware of the adverse effects that are being caused by these metals, the symptoms that are seen, and ways to remove some of the contamination we have from all the heavy metals.” – Science Direct

 

“Overall, the correlation analysis found multiple significant correlations of severity of autism and the urinary excretion of toxic metals, such that a higher body burden of toxic metals was associated with more severe autistic symptoms. The results of the regression analyses (P < .005 in all cases) indicate that variations in the severity of autism may be partially explained in terms of toxic metal body burden. However, the finding of a relationship does not establish causality.” – National Center for Biotechnology Information

 

Rumor has it, wild blueberries are great at removing heavy metals from brain tissue. I have personally benefited from wild blueberries but have no hard evidence to show or prove. In America, all the healthy herbs and alternative medicines are hidden from the citizens, which leads us to experiment for ourselves if it works or not. Spirulina and chlorella effectively remove heavy metals from the body; however, it upsets my stomach.

 

Detoxing our bodies help us think better and have more energy to follow our dreams. Is having too many toxins the cause of burnout? While it’s not the root cause of burnout, it wouldn’t hurt to detox so that the body can function better.

 

Remove Electromagnetic Frequency (EMF) From Your House

 

I have been sucked into the Apple ecosystem and had to get Apple’s AirPod Pro headset. This thing is convenient. The AirPods automatically switch from listening to music on the Mac to answering my iPhone calls. I can listen to music all over my house, despite my Mac or iPhone left in another room. 

 

The AirPods are not like the other Bluetooth headsets I’ve used in the past, as these things have a stronger signal. A stronger signal also means higher risks for human health that we aren’t aware of.

 

Months after using the Apple AirPods Pro, I realized my mental focus has been more challenging, and I feel off. Several studies show how Bluetooth is not good for us, much like putting our cellular phones next to our bodies

 

One thing I love about Apple products is they hold it’s value better than other manufacturers. I sold my AirPods on eBay and switched to a wired Apple headset. 

 

This one is hard but try to eliminate as much EMF exposure as possible. Keep phones away from your body and use ethernet cables for computer internet instead of Wifi. Having too many devices can bog us down.

 

Get Moving, Exercise Often

 

Need I say more? Get off the couch and sweat. Even if you are not losing weight, sweating helps eliminate all the bad stuff from your skin.

 

Get Out In Nature

 

Leave your electronic devices at home and go out in nature. Stay in a cabin over the weekend, go for a walk, do something that excites you, and meditate to clear your mind. 

 

“Studies show that both adults and children who have difficulties focusing or controlling impulses are better able to concentrate after being in nature. The natural world allows our brains to take a break from all that mentally drains us, and even reduces symptoms of attention-deficit/hyperactivity disorder (ADHD).” – Sharp.com

 

Conclusion

 

Are you feeling burned out? Lack motivation? Try getting out in nature and unplug from electronics. Take a weekend off or maybe even a full week off to rewind. Help your body do its thing by detoxing heavy metals and limiting exposure to EMF’s. Get your body moving by exercising and staying active every week. 

 

Taking these steps should help get your mind back up and running.