Investing in small business ventures What can an individual who lives on a small salary do to invest and augment his income somehow?invest and augment Visit us at corlissonlinegroup.comcorlissonlinegroup.com

Corliss Online Financial Mag Here are some tips to follow: 1.Invest in something close to your heart Whether it is in music or cooking, investing in a small venture will have a greater chance of surviving and even achieving reasonable success if it involves doing something close to your heart or within your experience as a person or as a worker. If you work as a waiter, why not learn as much as you can about some way of improving a recipe or a drink and come up with your own sideline you, or with a partner, can run during weekends or after work? We hear this advice often and yet not many take it to heart or are brave enough to actually do it. Many feel it takes too much effort and money to start a business. This is not true, in general. Making a single unique jacket or fashion accessory and selling it can be the one step you need to encourage yourself to make more. Even a used item such as a broken sofa, if repaired and furbished to look attractive might bring you some income you never thought you could have from what you already have.

Corliss Online Financial Mag 2. Learn the basic math Any business, small or big, will depend largely on good and proper basic accounting. Learning the fundamental methods of bookkeeping will go a long way to controlling the flow of resources and understanding the nature of your business finance. We all knew about the Chinese who, for many centuries, used the abacus to make sure they got the entire math figured out. With the calculator or the PC today, the job has become even easier and more efficient as we can keep records as well of our transactions.business finance Still, there are other tricks we can avail of to make the task easy and more enjoyable. Finger- Math can be a tool one can learn and use during those hectic moments when technology Is not around to your aid. Mental math is a trick we can also develop to enhance our acuity in this area. Whatever suits your personality and style, make sure the math is a primary focus in your business. Remember, math is but a tool to make your work easier; but loving the work can make a lot of difference in how you conduct the business.

Corliss Online Financial Mag 3. Know you product Knowing your product is as important as how much you price it eventually. You may have a good round figure for your product’s price; but if you have not truly known your product (what it directly provides, what value it adds to its user, how it can be enhanced beyond its basic use), you will not fathom its true worth for you and for your customer. Knowing your product goes beyond appreciating its innate value. Peanut butter is not just for making bread taste better or eating by itself. It can also be used for adding flavour to other recipes or with other food (try it with banana). And unless you tell people it can be used as so, they will never discover its other uses. Advertising or showing it in your packaging can be the step you need to do to enhance your product’s value and appeal as well as its price.

Corliss Online Financial Mag 4. Know your customers Not all people will want to buy your product or service. How to change their mind is the challenge you must never give up on. Changing your approach may allow you to capture certain customers you know patronize other brands. Price reduction, although it is not always the best thing to do or other come-ons, such as giveaways or freebies, may help promote your product in certain market locations you wish to capture. 5. Know your competitors Knowing your customers will teach you how to appreciate and know your competitors indirectly as well. If you feel your product is better than your competitors and yet you cannot break into the bigger share of the market, then there must be something wrong with your product or your marketing approach.

Corliss Online Financial Mag 6. No matter how many competitors you have, you can still join in if you are unique Unless every corner in your area has a small variety store, you can still put up your own as long as you provide a unique feature in your business. Delivering your product while others wait for buyers can be your advantage in these busy times. Or, you can have orders picked up at certain times to encourage people to buy fresh vegetables, fruits or meat, for instance. 7. Find out what works for you and your product Eventually, you will have to experiment and make a lot of mistakes as to how you can improve your product, your price and your style of operation. But things will change as economic and social realities also change ad adapting creatively will allow you to stay afloat.