Ask The Consultant

A Student From Oman Asks How To Start His Own Company

steve — Tue, 01 Jul 2008 00:41:02 +0000

Question:

I am a student finished A-level and I am gonna to study mechanical engineer in the UK but i am thinking to establish my own work after my study . i want to create a company working in petroleum sector in any thing related to that as the opportunity is available as i am from Oman which is a petrol producer.

Please give me your advise how to start from now to build ideas step by step till the time come to build a real company.

Answer:

I complement you on thinking about building ideas now while you continue your education. To build ideas for your your business I recommend the following:

1. Research what your market needs now and is likely to need. The key to a successful business is providing the market what they want to buy. I highly advise against any innovative products or services that do not have a track record of sales.

2. Once you have your top 2-4 ideas, do risk analysis considering the capital needed for the business, the people and expertise required to operate and the likelihood of market demand changing.

3. When you have settled on your top pick, finalize your marketing strategy remembering you may have a great product or service, but unless customers pay money to you for your offer, you are not going to have a business very long.

4. All work involved in establishing a new company should be evaluated against the alternative which is buying one already offering what it is that you want bring to market.

This is a general outline of key points that must be considered. However, the topic is one on where in-depth work is required.

Good luck with your venture and you are welcome to contact me any time for assistance.

Thank you for visiting this site and I send all my readers the energy of vibrant health, happiness and prosperity.

Steve Pohlit
http://www.asktheconsultant.biz

Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies to rapid increases in revenue and profits with a sustainable growth rate. I am building my practice and welcome new client inquiries. Call me for a fee consultation at 727-587-7871 Remember many of my business building articles can be found at Steve Reports and my prosperity building tool is The Prosperity Tool Chest

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Becky Asked : Do You Have A Recommendation For Website Hosting

steve — Tue, 10 Jun 2008 17:31:28 +0000

(Becky is a Facebook friend and wrote to me about website hosting)

“Wondered… I am reviewing web hosts. If you have any you would recommend, I would so appreciate any kernel of wisdom you could toss this way… thanks so much.”

Hi Becky: thank you for the question. I can help you with a recommendation. But before I do please let me know:

If you are transferring more than one domain?
Do you have a blog or blogs you are transferring?
Will you need email through one or more of your domains (I currently use gmail exclusively and when I use a domain based address I set it up to forward to my gmail account.)
Do you run forums off of any of your sites?
Do you have access to your domain name registrar account since the DNS settings will need to be pointed to the new host.

If you want you are welcome to call me at 727-587-7871 so we can discuss your requirements. And then we can position your site(s) for a move to the right service. Also feel free to email me.

Sending all my readers the energy of vibrant health, happiness and prosperity.

Steve Pohlit
http://www.stevereports.com

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How Should I Navigate My Business In This Economy?

steve — Wed, 02 Apr 2008 16:59:31 +0000

There is a very important fact to understand that applies to every business…”nothing stays the same”. The current business environment in the United State is one where the real estate market in general is one with declining property values, the value of the dollar is declining, and revenue for many companies is under pressure. Please Click Here To Continue Reading This Article

Be Well and Prosper,
Steve Pohlit
Business Development Consulting
Steve Pohlit has more than 20 years experience running very large and medium sized companies. Steve consults with clients to design and implement processes that will deliver improved business performance for the long term. Learn more about the process of Increasing Profits by 30% or More In 90 Days or Less by visiting 10 Minute MBA or you can call 727-587-7871 and speak with Steve directly. Have a question? Click Here To Visit Ask The Consultant

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Steve: One of Our Contractors Wants Out of The Business and Has Offered Us Equity In Exchange for An Employment Contract. Is This A Good Deal?

steve — Wed, 02 Apr 2008 16:45:30 +0000

However, the approach to answering this question is the same as if you were acquiring a business. In summary - you need to complete the same level of due diligence you would complete in the purchase of a company. The due diligence includes the evaluation of the company’s financial strength, expected continuation of revenue and profit trends, how this business will be integrated with yours and most importantly, does your management team have the time and skills to integrate and manage this new business.

My answer is an overview. As discussed the first step is to obtain detailed information on business performance which goes way beyond standard financial statements and tax returns.

Shameless plug: you will need an outside consulting expert to help you.

Be Well and Prosper,

Steve Pohlit
Business Development Consulting

Steve Pohlit has more than 20 years experience running very large and medium sized companies. Steve consults with clients to design and implement processes that will deliver improved business performance for the long term. Learn more about the process of Increasing Profits by 30% or More In 90 Days or Less by visiting 10 Minute MBA or you can call 727-587-7871 and speak with Steve directly. Have a question? Click Here To Visit Ask The Consultant

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What Is the Key Indicator of Business Strength or Weakness?

steve — Wed, 02 Apr 2008 16:30:42 +0000

My business development consulting practice is clearly focused on a company’s cash and liquidity trends as they will almost always tell you the strength of business. I spend a substantial amount of time on an effective technique I use with every consulting client that is detailed in the free course you can register for below. Candidly seeing how this works I can’t imagine why every business isn’t using it.

Be Well and Prosper,

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Construction Company Success Story

steve — Wed, 02 Apr 2008 16:11:09 +0000

I recently worked with a family owned business where the founder wanted his eldest son to begin taking over running the company. His son had no business training at all. In less than six months the son has taken over responsibility for the business and is leading the company to its best year ever as measured by revenue and profit.

Be Well and Prosper,

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What Is The Single Biggest Reason Companies Fail?

steve — Wed, 02 Apr 2008 15:54:54 +0000

Once a company is out of business, I can only guess as to what happened. Reports in the news, from former employees and companies that did business with the failed business do not provide the true picture. Based on my experience in strengthening business performance by working closely with the people who run companies, the number one issue is that business leaders of underperforming companies have never really been taught how to manage a company for consistent profit.

Every business will run into some level of difficulty at some point. The smart business people know that often they are too close to the details of an issue or the people to really see all the opportunities for improving the situation and so they ask for help.

Be Well and Prosper,

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Great Question Posed To Joel Comm On What Resources To Subscribe To - Not So Great Advice From Joel

steve — Sun, 09 Mar 2008 03:19:41 +0000

If you do not know Joel Comm, just type Joel Comm into your search screen and you will soon learn Joel is known for his work on Adsense and has now expanded his reach so as to not place the destiny of his business in one business model.

One of Joel newsletter subscribers recently asked advice on what newsletters he recommended. Joel produced a You Tube video to answer this question. First I love videos but I don’t want to watch one for an answer I can get in print in about 15 seconds. If you want to use video for a question and answer format then provide both print and video options.Joel’s response to this question was to pay attention to what you feel is valuable and then stay subscribed to those newsletters. My view is that this is incomplete advice. I recommend you seek out the clear experts in your field of interest and subscribe to their newsletters. All they write about may not be of immediate interest and value to you. However, I am confident their material will have long term value for your.

There are a lot of people I pay attention do but only a few who have a big impact on me long term. I suspect you will discover this is true for you as well.

I welcome your comment.

Are you a business owner with revenue in excess of $5 million annually wondering if you are on the right track? Email Me to schedule a FREE 30-60 minute Consultation

Your expert business consultant is Steve Pohlit with more than 20 years experience helping companies with annual sales volumes ranging from $5 mil to over $10 billion improve business performance. Steve is the author of The 10 Minute MBA and is currently integrating his work with The Prosperity Now Program into all of his consulting engagements.

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Expert Business Consultant Delivers FREE Advice

steve — Sat, 08 Mar 2008 18:01:18 +0000

Ask the expert business development consultant your most pressing question and receive an answer in 48 business hours or less.

Email Your Question Now!!

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