Small Businesses

problemGeneral advice on Opening a Small Store

What kind of store would you open? What are you interested in? Make a list of what you like to do today. Do you enjoy reading? Investing? Now take a moment and think back to what you enjoyed as a child. Is there any connection with what you like today? Is there something that you used to do that you need to incorporate back into your life? It is very important to write all the answers down and take time to ponder as you lazily take a walk through your life.

The next step is to write down your skills. You might be surprised when your list reveals a lot of skills that are not associated with your present job. Get creative. Will these skills connect together for a business plan?

Make a list of your most marketable, abstract skills-a list of what you are good at. For example:” I am a good speaker-witty & funny,” or “My thoughts are strategic-which makes me a deep thinker.”

A Business model can turn the corner of success by filling in the gap with what is missing. Look around you. What service or product is missing in a field of interest to you? Make a list of 3 or 4 products or services that would be useful to you in your everyday life-but are missing. Can’t think of anything. That’s common when put on the spot. Give yourself a few days to make a list. The ideas will come when you least expect it. For example: The idea for Netflix began when Reed Hastings received a late fee at a local video rental store. He began to wonder why video rental companies couldn’t charge a flat rental fee like health clubs. This is how he formulated the idea for an online DVD rental Company-Netflix. Carry a notebook and always be ready for those unexpected breakthroughs.

Now that you know a little more about yourself and the kind of shop that you want to open-there are more questions that we can help you sort through. Who is your target audience? What is your expected revenue? What do you expect your costs to be?

It will take some research on your part to find the answers to these questions. What is the cost of living? The cost of renting a business space, the cost of materials, and the cost of marketing.

Online Business Page/the Pros & Cons

Casumo is an online casino. Let’s look at some of the pros for having this business online.

  • The privacy offered to the customer in this case makes it more convenient and more relaxing for them, which in turn might generate more revenue.
  • Online businesses might be cheaper to run as well, as a physical location is not necessary and thus the cost of rent and utilities is non-existent. And all of the extra employees that are usually involved, for example: servers for food and drinks, bartenders, dealers, bankers, management, and more. Save money and time.
  • The games that are offered can be numerous and in a wide variety to your audience due to the fact there is no limitation in space.
  • The ability to own multiple sites is of greater advantage.
  • The location is not a main concern as with a physical location. The upkeep of the building and grounds is not necessary either.
  • Online casinos are able to offer more abundant deals to customers concerning bonuses. The majority offer a Welcome bonus. This can include a No Deposit Bonuses, reload bonuses, and Deposit Match Bonuses.
  • Online casinos reward players for their loyalty to their casino. Which is usually paid in bonuses that can be used when they need it most.
  • Online casinos accept a vast variety of payment methods, including PayPal, credit, debit, Ukash, Skrill, Neteller, and many more-designated on each site.
  • You can play casino games for free. This is a great advantage that you will not find in a land based casino because they have a certain amount of games and cannot let people play for free and knock out the machine being used by a paying customer. Online casinos are not concerned with running out of room or waiting for a game to play.
  • Online casinos offer a greater variety in betting amounts due to their overhead expenses not existing costing as much as a land based casino.
  • Your chances of winning at an online casino or mobile casino are greater than a land based casino due to the fact that the land based ones have a larger House Edge.
  • Players have the opportunity to play global, meeting people all around the world.

The Cons of having an online casino or other business.

  • As a business owner you will not have the same opportunity to interact with the customers as a land-based business.
  • The extra work needed to reassure consumers that you are an honest site. Which will just take time. But one bad review, whether true or not, can hurt tremendously.
  • The laws regulating online casinos can be very complicated in some areas of the world. It is wise to do the research beforehand so you are not caught in a big, and costly surprise of red tape.
  • A business owner might realize that they miss having a physical location. Plus, the decorating and working daily-getting to know your employees.