Archive for January, 2008

Top 10 Quotes from Albert Einstein

Tuesday, January 22nd, 2008

1. A person who never made a mistake never tried anything new.

2. Education is what remains after one has forgotten what one has learned in school.

3. I am enough of an artist to draw freely upon my imagination. Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.

4. The secret to creativity is knowing how to hide your sources.

5. The value of a man should be seen in what he gives and not in what he is able to receive. Try not to become a man of success, but rather try to become a man of value.

6. There are two ways to live: you can live as if nothing is a miracle; you can live as if everything is a miracle.

7. When I examine myself and my methods of thought, I come to the conclusion that the gift of fantasy has meant more to me than any talent for abstract, positive thinking.

8. In order to be an immaculate member of a flock of sheep, one must above all be a sheep oneself.

9. You have to learn the rules of the game. And then you have to play better than anyone else.

10. The important thing is not to stop questioning. Curiosity has its own reason for existing.

~Albert Einstein

Most Profitable Businesses to Start (and least profitable)

Tuesday, January 22nd, 2008

Forbes.com has examined the most profitable and least profitable businesses to start and the results are pretty fascinating:

Most Profitable Businesses to Start:

  1. Accounting Services
  2. Legal Services
  3. Dental Services
  4. Specialized Design Services
  5. “Other” Health Practitioners (chiropractors, physical therapy, rehab, etc.)
  6. Outpatient Care Centers (spas, family planning, kidney dialysis, etc.)
  7. Insurance Brokers
  8. Physicians’ Offices
  9. Medical and Diagnostic Labs
  10. Depository Credit Intermediation (small banks, credit unions,

Commentary:

No big surprises here, fully 50% are medical related and another 40% are legal, financial or accounting related. I believe this shows that professional training pays off due to the high barriers to entry for these professions - not anyone can setup a medical, legal or financial related business, it takes some training, certification and skill. The one surprise was “Specialized Design Services” but that job still takes quite a bit of training before starting.

The lesson being that previous training is necessary to get into the most profitable businesses and being defensible either via education or skill is an important aspect to consider when starting your business.

The Least Profitable Businesses to Start:

  1. Community Care Facilities
  2. “Other” Support Services (tradeshow organizing, wrapping gifts, etc.)
  3. Beverage Manufacturing
  4. Real Estate Related Services (appraisers, property managers, etc.)
  5. Bakeries and Tortilla Manufacturing
  6. Amusement and Recreation Services
  7. Motor Vehicle Parts Manufacturing
  8. Specialty Retailers
  9. Beer, Wine & Liquor Retailers
  10. Travelers’ Accommodations

Commentary:

While I believe Forbes.com’s numbers are accurate, take note of the fact that this list is not destiny. For example, there are many examples of hugely successful businesses under the “Least Profitable” list: Coca-Cola for #3, Rainbow Bread for #5, Disney for #6, Hilton for #10 (with lots of smaller local businesses in the other categories).

Just because most people in your sector are not profitable doesn’t mean you have to be! This list is more of a guide showing that a) professionals with advanced education or degrees are the most profitable and b) businesses with lots of competitors and low barriers to entry are the least profitable.

Lesson: Follow your passion in business, learn proper management skills and success can be yours regardless of the industry.

 

A Great Time to Get Started!

Tuesday, January 8th, 2008

Sorry for the light posting lately, we’ve been a bit busy.  The reason we’re so busy is that January is the most popular month of the year to start a new company.  By starting your new company in January you can begin the year with your company in place and grow as needed.  May of our clients will start a company now and hold it “on the shelf” until they are ready to start building the business.  This way you do not have to wait for the state to finish filing your documents to start open bank accounts, apply for license, etc.

 Interested in starting now?  Just visit our Price Quote page for a quote.  You can place an order online 24/7.