Naira crashes to 300 against dollar

Monday’s stoppage of foreign exchange sales to Bureau De Change operators by the Central Bank of Nigeria failed to lift the naira on Tuesday as the currency exchanged for 300 against the United States dollar in Kano, 290 in Lagos and 292 in Abuja.

Financial experts said the naira would decline further, while private sector operators described the move as a welcome development.The ban was announced on Monday, when naira trading at 285 against the dollar at the parallel market from 278 on Friday.

The Acting President, Association of Bureau De Change Operators, Alhaji Aminu Gwadabe, told one of correspondents in a telephone interview that the currency traded against the greenback at 300, 290 and 292 in Kano, Lagos and Abuja a day after the CBN announcement. “There is cut of (dollar) supply to the market. The BDC sub-sector has been murdered. We are not coping. The naira is going to head northwards. There is no solution in sight,” Gwadabe lamented.

The Head of Investment Research, Afrinvest West Africa Limited, Mr. Ayodeji Ebo, said the stoppage of forex sale to the BDCs meant that the CBN wanted everybody to apply to the banks for dollars. He stated, “But we feel the pressure now will move from the BDCs to the parallel market. We will see significant spike in the value of the naira at the parallel market because the little supply to the BDCs have also helped to cushion the demand at the parallel market. “It will further compound or increase the spread between the parallel market and the interbank market. So, it will also increase round-tripping and unethical practices within the financial system.”

On the lifting of the ban on cash deposits into domiciliary accounts, Ebo said, “I am still sceptical about how this will work except they are also assuring us that if you deposit it, you can consummate business with it.” A professor of financial economics at the University of Uyo, Akwa Ibom State, Leo Ukpong, said, “I don’t think the stoppage of dollar sale to the BDCs will solve the problem. The currency will depreciate some more. “This move will make the naira to weaken more as demand for dollar will skyrocket because of the short supply.”

Members of the organised private sector, however, applauded the CBN for the stopping the sale of dollars to the BDCs and lifting the ban on cash deposits into domiciliary accounts. The President, Manufacturers Association of Nigeria, Dr. Frank Jacobs, said industrialists had earlier kicked against the funding of the BDCs by the central bank, adding that with the development, the forex could be channelled towards funding the real sector in terms of importation of raw materials.

On the removal of the restriction of cash deposits into domiciliary accounts, Jacobs said manufacturers were still waiting for more clarification as to how the money deposited could be utilised by the customers. The Director-General, the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Mr. Emmanuel Cobham, said the forex sale ban was a welcome development. According to him, although the BDCs are necessary in the economy, they are licensed entities and should, therefore, source for their own funds. 

Also speaking on the matter, the Director-General, Lagos Chamber of Commerce and Industry, Mr. Muda Yusuf, lauded the forex policy review, noting that it had addressed the concerns of economic operators. According to him, it is a source of worry that the CBN continues to maintain its official exchange rate at N199 to the dollar at a time of dwindling forex inflow. “The pressure on the official window will persist. The risk of round-tripping and distortions in the foreign exchange market will consequently remain high,” he said.

Source: Punch Newspaper.

NSE may list Transcorp Hotels’ N10b bond on Jan. 18

An official of the Nigerian Stock Exchange (NSE) said on Tuesday that the listing of Transcorp Hotels’ N10 billion bond may take place on Jan. 18 barring unforeseen circumstances.

Mr Ade Bajomo, NSE Executive Director, Market Operations and Technology, told the News Agency of Nigeria (NAN) in Lagos that the listing was to spur activities at the exchange.

A NAN investigation, however, revealed that the N10 billion was the first tranche of N30 billion bond approved by the exchange for the company.

Bajomo said the bond was one of the efforts by the company to finance long-term projects, adding that the NSE was delighted with the listing.

Bajomo urged more corporate companies to float corporate bonds this year with the current economic challenges to finance long-term projects.

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According to him, companies require funding to pursue more capital projects and the capital market offers the best funding for long-term development projects.

NAN reports that Transcorp Hotels in November, 2015 announced a successful naira bond market transaction of N10 billion.

The proceeds of the issue, according to the company, will be used to finance the upgrade of the company’s Hotel, Transcorp Hilton, Abuja, and to build a multipurpose banquet centre.

The transaction was a 7-year fixed-rate bond due in 2022 under a N30 billion medium-term programme.

The subscription of the bond consisted of 7-year 16 per cent fixed rate (unsecured) bonds due in 2022.

The 7-year bond were fully underwritten by FSDH Merchant Bank Limited and United Capital Plc.

Source: Guardian Newspaper.

World Bank projects 4.6% growth for Nigeria’s economy

THE latest report by the World Bank as projected that Nigeria’s economic growth index would hit 4.6 per cent in 2016, even as it expected that economies would pick up in other oil exporting countries, on the assumption that oil prices will stabilise.

The group, in its January 2016 Global Economic Prospects obtained by The Guradian yesterday, also noted that weak growth among major emerging markets will weigh on global growth in 2016, but economic activity should still pick up modestly to a 2.9 per cent pace, from 2.4 per cent growth in 2015, as advanced economies gain speed.

The Sub-Saharan African region is forecast to accelerate to 4.2 per cent in 2016 from 3.4 per cent in 2015 as commodity prices stabilize. Economic activity will vary across Sub-Saharan Africa, with consumption growth remaining weak in oil exporting countries as fuel costs rise, while lower inflation in oil importing countries helps boost consumer spending.

Nigeria is forecast to expand 4.6 per cent after growing by 3.3 per cent last year while South Africa is expected to advance only modestly to 1.4 per cent growth from 1.3 per cent in the year just ended,” it noted.

The report described simultaneous weakness in most major emerging markets as a concern for achieving the goals of poverty reduction and shared prosperity because those countries have been powerful contributors to global growth for the past decade.

“Spillovers from major emerging markets will constrain growth in developing countries and pose a threat to hard-won gains in raising people out of poverty,” the report warns.

World Bank Group President Jim Yong Kim, said: “More than 40 per cent of the world’s poor live in the developing countries where growth slowed in 2015. Developing countries should focus on building resilience to a weaker economic environment and shielding the most vulnerable. The benefits from reforms to governance and business conditions are potentially large and could help offset the effects of slow growth in larger economies.”

Global economic growth was less than expected in 2015, when falling commodity prices, flagging trade and capital flows, and episodes of financial volatility sapped economic activity.

World Bank noted that firmer growth ahead would depend on continued momentum in high income countries, the stabilization of commodity prices, and China’s gradual transition towards a more consumption and services-based growth model.

Developing economies are forecast to expand by 4.8 percent in 2016, less than expected earlier but up from a post-crisis low of 4.3 per cent in the year just ended. Growth is projected to slow further in China, while Russia and Brazil are expected to remain in recessionin 2016. The South Asia region, led by India,is projected to be a bright spot.

World Bank Group Vice President and Chief Economist Kaushik Basu, said: “There is greater divergence in performance among emerging economies. Compared to six months ago, risks have increased, particularly those associated with the possibility of a disorderly slowdown in a major emerging economy.

“A combination of fiscal and central bank policies can be helpful in mitigating these risks and supporting growth.”

Growth in the East Asia and Pacific region is projected to continue to slow to 6.3 per cent in 2016 from a slightly less-than-expected 6.4 per cent in 2015. Growth in China is forecast to ease further to 6.7 percent in 2016 from 6.9 percent in 2015.

Growth in Europe and Central Asia is projected to rise to 3 per cent in 2016 from 2.1 per cent in the year just ended as oil prices fall more slowly or stabilize, the Russian Federation’s economy improves, and Ukraine recovers.

Economic activity in Russia is projected to contract by 0.7 percent in 2016 after shrinking by 3.8 percent in the year just ended. The western part of the region, which includes Bulgaria, Romania, Turkey and the Western Balkans, should grow moderately in 2016, buoyed by recovery in the Euro Area.

Growth in Middle East and North Africa is forecast to accelerate to 5.1 per cent in 2016 from 2.5 per cent in the year just ended, as the expected suspension or removal of economic sanctions against the Islamic Republic of Iran will allow that country to play a larger role in global energy markets.

Source: Guardian Newspaper.

5 Lessons Learned From Serial 7-Figure Sellers

There are few things less exciting than having your company acquired. We love articles like this one that tell incredible tales of the scrappy entrepreneur who sells to a Fortune 500 company for instant success.

The reality, however, is that most acquisitions happen in a much more mundane way -- if getting a seven-figure payday can be called mundane. There are only so many companies that Marissa Meyer will buy and only so many "acqui-hires" for Google to complete.

Most acquisitions happen outside of the news. The only people who know about them are the buyer, the seller and their immediate families.

I’ve been fortunate to be a part of over 600 of these acquisitions in the Internet and online space. I’ve also been fortunate to see some entrepreneurs who become serial seven-figure sellers -- entrepreneurs who sell more than one business for more than $1 million. 

Here are four lessons I’ve learned about how they build repeat, valuable businesses.

1. They don’t limit their potential acquirer.

When we think of having our company acquired, we often think about a competitor buying us out, or a company buying us for strategic reasons. But these type of acquisitions require the right blend of conditions to exist, including:

An outside company needs to know that your business would make a good strategic acquisition.

This outside company needs to value your company as highly -- or more highly -- than you do.

This outside company needs the resources to complete such an acquisition.

The timing has to be right.Entrepreneurs who sell seven-figure companies don’t wait for the perfect conditions that may never arrive. They know that there is a much broader market of individuals, small private equity firms and opportunistic buyers ready to move on healthy, growing businesses. So they actively work to position their business for that type of an exit.

2. They plan their exit instead of waiting for it to happen.Planning your exit strategy can make a significant improvement in the value of your business. When I sold my first company, I took 14 months to get it in a better position for a sale. Those 14 months helped me to realize a 450 percent increase in the the valuation of my company.

The person who bought my first company, however, optimized the business even further. He saw an increase of over 1,055 percent in valuation from when I first had that same business valued.

Optimizing a business for sale isn’t necessarily difficult, but it does take time. Many exit strategies can take anywhere from 12 to 18 months to complete. 

3. They have clean, verifiable financial records.One of the most common differences between a business worth $100,000 and $5,000,000 is the state of the financial records. It never ceases to amaze me how many entrepreneurs try to run their businesses with poor financial records.

Clean financials not only help you grow your business, but they also open avenues for acquisitions. Acquirers can obtain bank financing, raise private funds and have confidence in the metrics of your business before betting millions on the acquisition.

4. They keep the business simple. If you can appeal to a lot of potential acquirers, you’ll increase the chances of finding an acquirer and also increase the value of your business. So it pays dividends to only add complexity to your business when it is profitable.

In 2011, I acquired a publication that had a very profitable newsletter. It also had very unprofitable videos and a dead user forum. The prospect of maintaining these extra, non-profitable business centers caused me to reduce the amount I was willing to pay for that sellers business.

As you add moving parts to your business, make sure they add to the bottom line in a substantial way.

5. They considered the transition.Selling an online business is a complex process. Seven-figure sellers reassure acquiring companies that the transition will be smooth, and that they’ll be available for transition assistance.

Ways you can help smooth the transition period include:

Offer training. Agree, in writing, to be available for 30 or 60 days after the close to help with any transitional needs.

Document processes. Write out common processes in your company. Pretend that you are hiring someone to do your job (you effectively are doing just that), and create materials to match.

Create videos. While written processes can be helpful, videos can be even more helpful to show how you do things.

Invite buyer to spend a few days with you. One of the most effective ways to transition a business is to do it in person. Invite your buyer to spend 3-5 days shadowing your work.

With most active acquisitions occurring outside of the news cycle, there is a great opportunity for entrepreneurs to cash in on what is currently a buyers market. Follow the habits above, and you’ll be well on your way to your own seven-figure exit!

Source: www.entrepreneur.com

4 Ways to Freshen Your Outdated Website

When you think about it, websites have made giant improvements in appearance over the years. In the '90s, businesses merely rushed to set up an online presence, resulting in an Internet full of electronic brochures. The look and feel of sites has changed tremendously, much of it with the goal of giving customers a better experience. Potential buyers now show an interest in doing more than simply learning about a favorite store or restaurant. They want to order online, view menus, see live webcam shots of a location and more.

Complicating matters is the fact that customers are now visiting websites on a variety of mobile devices. They're also expecting no clutter and overall user friendliness. If businesses haven’t retooled their websites in a while, they could be sending the wrong message to potential customers. An outdated website harms a business’s hard-earned reputation, giving customers the impression that everything else about the business is outdated, as well. Here are a few things you can do to give your old website a new look.

1. Add a CMS

If you’re still relying on your website designer to update your information, you’re already behind the competition. You should be able to add information to your site through an easy-to-use admin tool. Have at least a portion of your site set up to give you free reign to update as necessary, adding information like news and blog posts as needed. This is usually done through converting all or part of your site to a CMS-type site like WordPress.

By adding a CMS to your site, you’ll also be able to grant multiple people rights to post content. You can assign editors to take care of sourcing content and reviewing it before it goes live. You can even outsource work to contractors and give them rights to only access the information they’re updating. This will keep your site updated without forcing you to constantly log in and do the work yourself.

2. Make it mobile friendly.

How does your site look on a smartphone screen? What about an iPad or Kindle Fire? If you don’t know the answer to that question, you’re taking a risk with your site. Customers are increasingly relying solely on mobile devices for their Internet surfing, so a mobile-friendly site is crucial. Either have your site professionally redesigned or use one of the many responsive templates out there for WordPress, SquareSpace, or Weebly.

3. Capture visitor information.

You can’t even check out at a department store anymore without being asked for your email address, so why should your website not capture this information? Every visitor should be offered an opportunity to sign up to receive special offers. Whether you choose to ask this after checkout or as a pop up when customers first visit your site is up to you. Once you’ve captured that information, though, it’s important to follow up with regular discount emails or your customers may see your emails as spam.

4. Speed up slow page load times.

This one often doesn't get nearly the attention it deserves. Customers no longer tolerate websites that are slow to load. Tools are available to test the load time of your page and pinpoint bottlenecks. Resist adding annoying features like videos or music that auto-load. Keep your landing page simple. If a customer finds that your main page takes too long to load, that customer will likely hit the back button and shop with one of your competitors instead.

Once you’ve rebooted your site with a fresh new look, make a date to review it each year and investigate areas that need improvement on a regular basis. Keep an eye on other websites and note things they’re doing that you’d like to see on your own site. To remain competitive, pay attention to the way businesses interact with their customers through their websites, and emulate the best practices you see. Sooner or later, people may even start to emulate you.

Source: www.entrepreneur.com

Wall Street faces profit recession as earnings season begins

Wall Street's fourth-quarter earnings season that gets under way next week could confirm something many investors may not want to hear: the U.S. economy may be doing well but corporate profits are in a recession.

An earnings recession - two quarters of declining profits - would be led by the usual suspects, energy and materials companies. But its severity may depend on consumer discretionary companies, which have been warning about profits at an unusual pace.

Consumer discretionary companies, which led S&P 500 gains in 2015 and have had the second-highest average profit growth rate of any sector over the last five years, are more pessimistic than usual going into the quarter. That is despite the benefit of lower gasoline prices for consumers.

Consumer discretionary stocks rose 8.4 percent last year, thanks in large measure to Netflix (NFLX.O) and Amazon.com (AMZN.O), the year's best S&P performers.

While consumer discretionary fourth-quarter profits are forecast to be up 8.4 percent, that is below the 13.6-percent growth that was forecast only three months ago, according to Thomson Reuters data.

Twenty-five companies in this sector so far have warned and none gave positive guidance, the highest number of negative forecasts since at least 2006, according to FactSet. In a typical fourth quarter, only two-thirds of earnings pre-announcements in this group are negative.

By comparison, overall 85 S&P 500 companies guided below analysts' estimates for the quarter and 26 issued positive guidance, roughly in line with recent quarters, FactSet data showed.

Macy's (M.N) this week cut its earnings outlook for the second time and blamed a fall in sales on unusually warm weather that kept consumers from buying coats. It also cited the strong dollar.

Companies that have warned also include L Brands (LB.N), GameStop (GME.N), Starbucks (SBUX.O), Target (TGT.N) and AutoNation (AN.N). Specialty retailers have given the most negative guidance, while 17 companies in the sector have cited the strong U.S. dollar as a reason behind the lowered outlooks, FactSet said.

As earnings forecasts come down, some strategists say the expected boost to consumer spending from lower energy prices may have been overblown. Consumers still have debts to pay down.

"The thing behind the consumer not spending despite what looks like tailwinds from lower energy price (is), people are still deleveraging from prior to 2008," said Robert Pavlik, chief market strategist at Boston Private Wealth in New York. "The consumer is still being weighed down."

EARNINGS RECESSION?

Overall, S&P 500 earnings are forecast to have dropped 4.2 percent in the fourth quarter. That would be their second-straight quarterly decline, Thomson Reuters data showed, which would meet the common definition of a profit recession.

Revenues are expected to be slightly less bad - with only a 3.2-percent decline expected, since profits can be lifted by stock buybacks, cost cuts and other maneuvers.

When final reports are tallied, S&P 500 companies are expected to show zero profit growth for all of 2015. Profit growth of 7.5 percent is forecast for 2016, but that estimate has also fallen since Oct. 1, when it stood at 10.3 percent.

The energy sector is expected to be the biggest drag on S&P 500 results as oil prices continue an almost relentless decline that began in mid-2014. The materials sector is also expected to show a double-digit profit drop, hit by a downward spiral in other commodities.

Goldman Sachs on Thursday lowered its earnings-per-share forecast for 2015, 2016 and 2017, saying energy was the main reason behind the revisions. It expects the sector to post an annual operating loss for 2015 for the first time since its data began in 1967. Goldman Sachs also cited the slowdown in China and signs that profit margins have peaked.

That could be bleak news for the stock market, which posted a slight loss for 2015 and has been battered at the start of 2016 by a China stock selloff and growing concerns over a global economic slowdown. Major indexes lost about 6 percent last week, the worst start to a year since records were kept.

Even with the selloff, valuations are stretched. The S&P 500 trades at 15.7 times forward earnings, well above its 10-year median of 14.7, according to Thomson Reuters data.

"We go into fourth-quarter results and energy is still getting obliterated. Which are going to be the leadership groups? My worry is they're not going to materialize," said Daniel Morgan, senior portfolio manager at Synovus Trust Company in Atlanta.

Source: www.reuter.com

50 Thoughts That Can Motivate You to Do Anything

Motivation can be hard to come by, especially in the face of challenges or difficult work. When you’re thinking about implementing that new idea, or starting that new company or beginning that new regimen -- this is the new year, after all -- it’s easy to talk yourself into procrastinating. Or worse, avoiding your goal altogether.

Thoughts are powerful, and negative thoughts can prevent you from achieving your goals. The flip side is that positive thoughts can be just as powerful. The next time you feel unmotivated, use any of these 50 positive thoughts to reenergize yourself. Really: They work!

1. I can do anything. It’s a simple phrase, but it helps to remind yourself -- you really can do anything you set your mind to.

2. This is why I can. Instead of giving yourself reasons why you can’t do something, give yourself reasons why you can.

3. I deserve more. You deserve a better life -- whether that means a better job, a healthier body or more money. Work for it.

4. It’s never too late. No matter how old you are or how many opportunities you’ve passed up before, it’s never too late to make a decision and get a fresh start.

5. There will always be challenges. No matter what you do in life, there will always be challenges -- don’t let one set get the better of you.

6. There’s no "perfect" time. If you’re waiting for the perfect moment, forget about it -- there’s no such thing.

7. There’s no perfect plan. There are some definite flaws in your plan -- but there are in every plan.

8. Everybody starts somewhere. Nobody is born successful. Everyone starts somewhere, and usually from the bottom.

9. One step at a time. Don’t try to do everything at once. Reduce it to baby steps.

10. It can only get better. If it’s hard at first, it can only get easier.

11. Failure is temporary. If you fail, you’re in good company -- most successes come only after several rounds of failure.

12. Mistakes are learning opportunities. If you mess up, you can only become better for it.

13. Today is all I can control. Forget about what you did yesterday. Today is what matters.

14. If it were easy, everyone would do it. Nothing worth doing is easy.

15. “Someday” is today. If you’re like most people, you use the word “someday” to describe your goals and desires. Make today that someday.

16. Negative thoughts can’t stop me. Your negative thoughts are just thoughts -- nothing more.

17. I’ve done harder things. Think back to a time when you succeeded against the odds.

18. Everything has to be earned. You can’t get anything in this life unless you work hard for it.

19. Action is a better regret than inaction. Making the wrong decision is always preferable to regretting never having done anything at all.

20. I don’t need anyone’s permission. If people think you’re crazy, so be it.

21. I’m in control of my own destiny. You can decide whom you want to become.

22. There is no pass or fail. Nobody is grading you. You can’t objectively “fail” at life unless you never try anything.

23. Boring decisions get boring results. Make an exciting decision.

24. The risk is worth it. Know that risks are real, but the potential benefits are worth them.

25. Discipline feels better than regret. Discipline is hard, but it’s easier to deal with than regret.

26. Many good ideas seem crazy or impossible at first. Yours is no different.

27. I’ve got support. Friends, family, colleagues -- even if they think you’re crazy, you can always find support in networking groups, support groups and other community resources.

28. Experience is always valuable. Even if your mission doesn’t turn out the way you'd expected, you’ll walk away with experience.

29. Hard work is its own reward. You’ll feel good just for making the attempt.

30. Every day counts. Today, tomorrow and the next day are all steps toward your end goal.

31. What I see matters more than what others see. Forget about what others think -- prioritize what you think.

32. There is no problem that can’t be overcome. Everything can be solved or worked around.

33. Ordinary actions make an ordinary life. Nobody wants to be ordinary. Don’t let yourself be.

34. Everything can be improved. Even if you start out rough, you can always make improvements to your approach.

35. I can learn whatever I need to know. Free resources are plentiful.

36. I can master whatever I need to do. Practice can make you good at anything.

37. Willpower is all in my head. You can have all the willpower you want -- you just have to want it.

38. I know what I want. Know what your end goals are, and visualize them.

39. Feelings are the product of thoughts. If you’re scared or unsure, know that these are feelings generated by your thoughts; then you can control them.

40. Trying and failing is better than doing nothing. This is universally true.

41. I am whomever I want to be. There’s nothing stopping you from being whom you want to be.

42. I can’t win unless I try. Effort is the only way to get results.

43. My life is a product of my decisions. Make the ones that matter.

44. I’m better than I was yesterday. You’re older, wiser and more experienced than you’ve ever been before.

45. Nothing great happens overnight. Work and patience are your friends.

46. Once I get started, it will be easier. You’ll feel more motivated once you get rolling.

47. I’ll reward myself when I’m done. Even small rewards can be great motivators.

48. I’m doing this for more than just me. Maybe it’s for your family or community -- whatever "it" is, external motivation can be powerful.

49. There are always more chances. If you screw up, you can always try again.

50. If nothing else, this will make for a good story. You’ll walk away with great memories and interesting anecdotes.

The power of positive thinking isn’t just an adage -- it’s scientifically proven that positive thoughts (and the elimination of negative self-talk) can improve your mood, feelings, and performance. These thoughts should get you started doing whatever it is you need motivation to do. The rest is up to you.

Source: www.entrepreneur.com 

How These Entrepreneurs Found Success in an Industry They Knew Nothing About

It was January 2011 and Raaja Nemani and Aaron Firestein were waiting for 2,600 pairs of sneakers to be delivered to their home in Chicago, which was experiencing a massive snowstorm. When the shipment arrived, via a container on the back of a big rig freight truck, the friends realized they’d failed to think things through.

The driver wanted to know where the unloading dock was and who was going to unload the delivery. There was no unloading dock -- “we were like, ‘dude, this is a residential street,’” says Nemani  -- and the pair had planned on doing it themselves. That, they quickly realized, would take forever. So they called a few friends, paid the delivery guy $100 to help out and spent the next three hours unloading boxes of shoes in the snow.

Firestein designing shoes by hand at an artisan fair in a small town in Argentina in 2009.

Image credit: BucketFeet

Neither Nemani nor Firestein had experience managing inventory. The freight truck debacle was just one of many mistakes they made in launching BucketFeet, a footwear brand featuring designs from artists around the world.

In that first shipment, for instance, they ordered the same number of shoes in each size. Predictably, common sizes sold out instantly and while small and large sizes remained on the shelf. “Super dumb,” says Nemani.

But just as with that first shipment of shoes, after each setback the pair not only managed to think on their feet but learn from the mistake. To date, BucketFeet has sold almost half a million pairs of sneakers. The company, which has raised $16 million in venture capital, recently expanded to socks, and plans to launch a number of new shoe silhouettes this year.

Firestein and Nemani in Shanghai in 2010 with people who worked at the first BucketFeet factory in China.

Image credit: BucketFeet

Both founders attribute their success to the clarity of their vision. Even as they stumbled in the early days, finding their way one mistake at a time, Nemani and Firestein were laser-focused on using their shoes to create a community of creative people. Today, the company has a network of more than 30,000 artists from around the world who submit artwork to be featured BucketFeet’s sneakers. When a design is selected, BucketFeet handles the manufacturing and distribution and the artist receives an initial payment of $250 plus $1 per pair of shoes sold. Every pair of shoes comes with the story of the artist who designed the shoe.

The idea for BucketFeet struck in 2008 in Buenos Aires. Nemani had just left his finance career in Chicago to see the world and Firestein had just graduated college, leaving California to travel while he figured out his next steps. They landed in Buenos Aires on their respective soul-searching journeys and, seeking a community of like-minded people, volunteered to play soccer with children in slums outside of the city. In the coming months, they became friends.

The first four Brazilian artist’s shoes overlooking Rio de Janeiro in 2012.

Image credit: BucketFeet

Before Nemani continued on his round-the-world journey, he bought a pair of sneakers that Firestein, himself an artist and photographer, had decorated by hand. Everywhere Nemani traveled, that pair of decorated Converse sneakers sparked conversation.

“Whether I was in Botswana or Nepal or the U.K. or Australia or any of these totally different places with totally different cultures and languages, people kept commenting on my shoes, and I thought that was incredibly powerful,” says Nemani.

The reaction was strong enough that he reached out to Firestein to see if he wanted to turn his sneaker-decorating side hustle into a larger operation. The only catch? Neither of them had any experience manufacturing shoes.

When BucketFeet had only 5 employees in 2013.

Image credit: BucketFeet

Their first step towards building BucketFeet was to consult Google, typing in basic queries like “How do you make shoes?” “Where are shoe factories?” and “How do I find a shoe factory?”  

Thanks to the Internet, the pair realized they would need to manufacture their shoes outside the U.S., but they didn’t have any connections. Then one day, Nemani was walking in downtown Chicago when he saw a sign for Mimi’s Maternity, a sizable retail store that he remembered his friend’s parents owned. Nemani called his friend to ask if his parents might have any manufacturing connections. Those connections eventually led Nemani to a contact at the Li & Fung Ltd. consumer product manufacturer in China, whom he calls the “800 pound gorilla” in the sourcing world.

Nemani and Firestein each put in $30,000 to get the company off the ground. For the first two years, the co-founders did not pay themselves or spend money on marketing. Every dollar went directly into creating the product.

BucketFeet did an event with rapper/actor Common at its Soho pop-up in 2014.

Image credit: Julian Walter

Early on, Andy Dunn, the founder of clothing retailer Bonobos, discovered BucketFeet shoes. He liked them enough to invest in the company and put BucketFeet sneakers up on the Bonobos website, albeit only very briefly. That exposure, along with a landing spots at a couple of key retailers like Nordstroms online and Bloomingdales, helped give the sneaker startup its early traction.  

Today, BucketFeet sneakers are sold at its four solo stores, online and at hundreds of retailers in 25 countries.

BucketFeet shoes.

Image credit: BucketFeet

Bold actions are often called foolish after the fact when they fail and courageous after the fact when they succeed. At this point, the BucketFeet duo can certainly look back on their startup bravado with pride. “We are great examples of you don’t need to have the background experience, relationships or anything to create something,” says Nemani.

“To a fault sometimes, I don’t think things through,” says Firestein. “But in this case, it worked out.”

LA-based BucketFeet artist Shplinton working.

Image credit: BucketFeet

Culled from www.entrepreneur.com

50 Golden and Easy Business for Startups

Today, tens of thousands of people are considering starting a home based business, and for good reasons. On average, people can expect to have two and three careers during their work life. Those leaving one career often think about their second or third career move being to their own home. People who have been part of the traditional nine-to-five work force and are on the verge of retiring from that life are thinking of what to do next. The good news: Starting a homebased business is within the reach of almost anyone who wants to take a risk and work hard.

$1,500 or less to start up

1. ACCOUNTANTExperience, training or licensing may be needed

Create a flier outlining your services. Before you do that, you need to know what those services will be. Do you want to simply do bookkeeping for a small business? A more involved level of accounting would be do actually work up balance sheets, income statements, and other financial reports on a monthly, quarterly, and/or annual basis, depending on the needs of the business. Other specializations can include tax accounting, a huge area of potential work. Many business owners don't mind keeping their own day-to-day bookkeeping records but would rather get professional help with their taxes.

2. BICYCLE REPAIR

In many parts of the country, this business tends to be seasonal, but you can find ways around that. Rent a storage unit and offer to store people's bicycles over the winter after you do a tune-up and any needed repairs on them. If you want to cater to the Lance Armstrong wannabes, you can have business all year round. These road race riders are training through snow, sleet and dark of night. Some of them work on their own bicycles, but many of them don't, so you can get their business all year. And if you keep Saturday shop hours, you can be sure you will have a group of enthusiasts coming by to talk all things cycling.

3. BOAT CLEANING
Experience, training or licensing may be needed

Boats that are hauled out of the water for the winter or even just for mid-season repairs will need the hull cleaned. And depending on the type of boat, it is a good time to give a major cleaning everything else too--the decks, the sleeping quarters, the head, and the holds. Start by approaching homes that have a boat sitting in the yard. Or you could market your services to the marina to contract you to do the boat cleaning it offers to customers.

4. BUSINESS PLAN SERVICE
Has expansion possibilities

Offer a soup-to-nuts business plan, including market research, the business plan narrative and the financial statements. Plan your fee around the main one that the client will want and offer the others as add-on services. You can give clients an electronic file and allow them to take it from there, or you can keep the business plan on file and offer the service of tweaking it whenever necessary. Have business plan samples to show clients--and make sure to include your own!

5. CLEANING SERVICE

There are many directions you can take this business. If you want to work during hours when no one else does, you can focus on office clients. You can focus on retail businesses and keep your customers clumped into one or two blocks. Restaurants are in great need of daily thorough cleaning and can be a great source of steady clients. Perhaps you would be more interested in house cleaning. Many times with cleaning services you don't have to spend lots of money on advertising or marketing because your customers will come by word of mouth.

To learn more about this business idea, check out Start Your Own Cleaning Service.

6. COMPUTER REPAIR
Experience, training or licensing may be needed

Study the main types of software that system users will want--word processing, photo manipulation software, mail merge, spreadsheet, design and especially security software. Investigate all the components--monitor types in all their varieties; keyboards, from wired to ergonomic to wireless; mouse types; as well as peripheral components like printers and scanners. Become completely familiar with all the ISPs (internet service providers) available in the market area you plan to cover. Establish yourself as the guru who can meet the needs of the personal computer user, the small business or a larger corporation.

7. CONSULTANT
Has expansion possibilities

To be a consultant, you need to have an expertise in something so you can market yourself as an advisor to others looking to work in that area. Perhaps you managed several large warehouses in your career with a drugstore company, you did all the marketing for many years for a large shoe manufacturer or you set up a chain of beauty supply shops or take-out restaurants. You can use this experience to help others do similar things without making the same mistakes that you made along the way.

To learn more about this business idea, check out Start Your Own Consulting Business.

8. DOG BREEDER

Experience, training, or licensing may be needed

Pets are phenomenally popular in the U.S. While many people are willing to adopt from animal shelters, others are looking for a specific breed. Purebred dogs are more popular than ever and can command large sums of money. But becoming a dog breeder is serious business catering to savvy consumers with high expectations of their pet purchases. You will need to establish yourself as a conscientious breeder who cares about the health and welfare of the animals you bring into the world.

9. EBAY ASSISTANT

Do you have items lurking around your household that you could sell on eBay? Figure out your asking price and decide whether to auction it or put it in your eBay store. Then decide if you want a minimum bid and how long you want the auction to last. You will want to establish a PayPal account to use for transactions. The eBay website provides all the information you need to know to get up and running with an eBay business.

10. EDITORIAL SERVICES
Has expansion possibilities

Here are some of the editorial services you can provide from the quiet of your own home:

• Copyediting. This is where fact checking takes place, and where grammatical, stylistic and typographical errors are caught.

• Proofreading. This is the last stop for a "finished" piece. The proofreader makes sure the copyediting changes have been properly made and no new errors are created in the process.

• Indexing. There are indexing courses available and you can get indexing software.

• Developmental editing. A developmental editor works with a manuscript on big-picture things like organization and content issues.

• Book doctoring. This is an editorial service provided for manuscripts written by experts. They create a manuscript as best they can and then a book doctor puts it into publishable shape.

• Ghost Writing. As a ghost writer, you actually do the research and write the book and someone else's name is attached as the author.

• Copywriting. Also known as business writing, this is writing that promotes a product or a service.

• Book writing. Do you have an expertise in something professional, such as accounting or interior decorating? Or personally, like knitting? Why not write a book about it?

• Magazine article writing. Magazines and newspapers are a great way to get your writing published before tackling the daunting task of writing a whole book.

• Web page content provider. Providing content for a web site is a good way to make some money writing.

To learn more about this business idea, check out Start Your Own Freelance Writing Business and More.

11. ELECTRONICS REPAIR
Has expansion possibilities

This business is similar to the computer repair business, but you will take on all sorts of electronic equipment besides just computers. With smaller electronics, you will need to be prepared to have customers bring their repair projects to you, as you would have difficulty recovering the cost of driving around picking up broken equipment and returning it. You may also want to encourage people to give you their old electronics so you can use them for parts.

12. EVENT PLANNING
Has expansion possibilities

One of the first things you need to do is visit every potential event location with which you plan to work. Work with the marketing manager to tour each site and learn what is available at each location. Start a database that will allow you to sort venues by varying features--the number of people each site holds, if there is AV equipment available on site, will you need to arrange for rental chairs, etc. Then when you are beginning to plan an event with a client, you can find out what the key parameters are for the event and easily pull up the three or four sites that meet the basic criteria. and engagement parties, etc.

To learn more about this business idea, check out Start Your Own Event Planning Business.

13. EXPERT WITNESS SERVICE
Experience, training or licensing may be needed

One way to make money in this field is by being an expert witness yourself. If you have an expertise that could be useful in legal cases, you can market yourself to attorneys to act as an expert witness. Another way to be active in the expert witness field is to play a sort of matchmaker, matching attorneys up with expert witnesses for their cases--either for the defense or for the prosecution. Expert witnesses for big money cases can be expected to fly anywhere to testify. There's no reason your database of witnesses can't be from all parts of the country.

14. FINANCIAL PLANNER
Experience, training or licensing may be needed

To start, you should go through the certification process so that you can label yourself a CFP (Certified Financial Planner). Your certificate shows that you have expertise and credibility, and this differentiation will help people choose you as their financial planner.

For more information and details on certification, click here. http://www.cfp.net/become/Steps.asp

15. GOLF COACH
Experience, training or licensing may be needed

Let the local public courses know about your coaching business. Cultivate relationships with the staff and encourage them to recommend you as a coach. Another place to look for customers is the corporate world. Golfing is a game that business people use to develop relationships outside the office. You do need to be a better than average golfer to develop a reputation as a golf coach. You also need to be a good teacher, know how to be motivational and be willing to work with many different types of people.

16. HOME ENERGY AUDITOR
Experience, training or licensing may be needed

All homeowners are always on the lookout for ways to save on their utility bills. You can come to their aid by providing them with an audit of their house and giving them a breakdown of how they could accomplish real savings in heating, cooling and electrical use. You can go one step further and do the implementation and installation of some of your suggestions in their home yourself. Do a complete appliance audit, with efficiency ratings and calculations based on the age of the appliance. And don't forget the water heater!

17. HOME INSPECTION
Experience, training or licensing may be needed

In order to be successful, you will want to establish contacts with real estate agents who can recommend your services to customers. The home inspection field is one where you will need to do constant updating of your education and knowledge. New products are constantly coming out on the market--if you only know about decks made of wood, you will not know how to inspect and assess the new materials on the market, such as composites that are made to look like real wood. Also keep apprised of all safety updates of materials and issues with things like off-gassing, carbon monoxide production, and other chemical precautions.

To learn more about this business idea, check out Start Your Own Home Inspection Service.

18. HOUSEHOLD ORGANIZER
Has expansion possibilities

You can choose either to do the organizing work or to come in to a home and consult on the things the homeowner could do to better organize. Have a portfolio of different organizational scenarios in different rooms in the home and talk with the homeowner about the style he or she likes. Create checklists and questionnaires to understand how the family uses the home. Are the kids wildly busy with after-school activities? Or are they usually home after school and want access to their toys? Do they share rooms? All of these things will help you tailor an organizing plan and become the family hero.

From Import/Export to Solar Energy

19. IMPORT/EXPORT SPECIALIST

Experience, training or licensing may be needed

If you don't already have work experience with importing and/or exporting, you will have a longer learning curve. You can start by learning the basics and hosting educational sessions to teach others what they need to know to get started in import/export. That alone would probably gain you your first couple of clients. If you keep going with educational seminars and expand your reach to outside your immediate region, you could probably develop a sufficient and ongoing customer base very quickly, but be careful not to outpace your learning curve!

To learn more about this business idea, check out Start Your Own Import/Export Business.

20. INTERIOR DECORATOR
Experience, training or licensing may be needed

Market your talents to building contractors. People purchasing new homes can often be overwhelmed with the choices and possibilities in home decorating. Design some questionnaires for each major element and each major room in the house. Find out how the homeowner will use the home--are there children? Pets? Does the woman of the house wear high heels? Do the home's residents neglect to remove shoes? How will each room be used? Where might task lighting and ambient lighting be most appropriate?

21. JEWELRY MAKING
Experience, training or licensing may be needed

There are many different ways of getting into the jewelry business and many different types of materials with which you can work. Working in metal will probably require the most in the way of specific tools. You need to be able to heat the metal to manipulate it, and you need metalworking tools to cut and engrave it. But there are many other materials that you can work with to make jewelry--glass, plastic, beads, feathers, even wood, to name just a few.

22. MARKETING COPY WRITER
Experience, training or licensing may be needed

If you can write copy that gets people excited about purchasing what your client has to sell, you can make good money in this business. Unless you are highly experienced from working in the copywriting field, take a course. There are online courses or classes at community colleges and universities that can give you a leg up in getting savvy at writing copy for brochures, catalogs, advertising and, of course, marketing copy for the web.

23. NOTARY PUBLIC/JUSTICE OF THE PEACE
Experience, training or licensing may be needed

In most states in the U.S., a notary public is a state officer who is authorized to witness and attest to the legalities of certain documents by signature and stamping a seal. Most states require that you pass an exam and a background check. It costs very little to become a notary and your income from notary work is negligible. A justice of the peace typically performs wedding ceremonies. States have varying rules and procedures for becoming a JP and performing services. Becoming a JP and/or notary public does not cost much money. And it is not a big moneymaking venture! Many states set the fees you can charge for JP services. JPs can add additional fees, and often do, including travel and hourly rates for additional meetings such as rehearsals, other prep time and any special requests.

24. PERSONAL CONCIERGE

This business is for someone who is supremely efficient and has the ability to make things happen. People who hire you will expect things when they want them and you need to be able to come through with not only what they want, but with a personal touch and a smile on your face. The most likely clients for a personal concierge service are top executives who find themselves at the office by 7 a.m. and are there most nights until 9 p.m., leaving them very little time to do all those things that often need to be done during those very hours.

To learn more about this business idea, check out Start Your Own Personal Concierge Business.

25. PERSONAL TRAINER
Experience, training or licensing may be needed

Advertise your services in places where everyone goes, like restaurants and grocery stores. Having a website is a good idea--people want some privacy in their decision-making when it comes to getting fit. They can go to your website and determine if your approach to personal training is an approach that would work for them. It is important to emphasize the safety aspect of using a personal trainer. You can help clients get fit and avoid injury.

To learn more about this business idea, check out Start Your Own Personal Training Business.

26. PROPERTY MANAGEMENT

Your job, in the case of rental units, will be to make sure the property is running smoothly. For seasonal properties, you will most likely spend your management time making sure the property is ready for seasonal visits and well-maintained when no one is around. If the owners go away for six weeks in the winter, the property manager makes regular checks on the property. You will be the contact number if the security system operator needs to contact someone about a breach in security.

27. SMALL ENGINE REPAIR

Experience, training or licensing may be needed

Most community colleges offer some level of engine-repair courses. Another way to learn would be to take a part-time position at a repair shop or a rental facility where you could learn on the job, although you will want to be open about your plans. You should be prepared to work on push-behind lawn mowers, riding lawn mowers, generators, garden tools such as rototillers and edgers, chainsaws, wood chippers and snowblowers. You need to decide whether you'll want to take on bigger jobs, such as tractors, snowmobiles and ATVs; space may be your decision-maker.

28. SOLAR ENERGY CONSULTANT
Experience, training or licensing may be needed
Has expansion possibilities

As a solar consultant, you can basically conduct a home inspection and give clients a report on their solar options for their particular home and site. This can range from full-fledged general solar installations that generate electricity to simple solar walkway lighting. You might want to start by working in a solar products company to become knowledgeable in the solar energy field. However, to be a consultant, it is often best not to be affiliated with any one company or product and be able to recommend products and options across the field of solar energy.

29. TAX PREPARER
Experience, training or licensing may be needed

Most tax preparation franchises offer courses, seminars, and training to get you ready to work for them. You will learn a lot about tax preparation while working for them before going out on your own. There is a lot of educational support out there to learn tax preparation and all its complexities. And there are lots of individuals and businesses willing to spend a few hundred dollars a year to have someone else prepare their taxes and keep watch for tax breaks or tax burdens on their behalf.

30. UPHOLSTERING

If you have a knack for sewing, upholstery repair might be a perfect business for you. One of the best ways to learn how to upholster is to get some discarded upholstered furniture and start tearing it apart. Many books and some videos are available to help you learn this trade. Often furniture ready for upholstering will also need repairs. Have a list available of furniture repair people you can recommend to your customers. Or you can take the piece in, have repair people you work with do this work for you, and add it to the overall cost. You can also learn to do this work, especially minor repairs, yourself.

31. USED BOOK SALES

Almost everyone has a few boxes of books stashed away in the house somewhere. Why not make a business out of them? In order to gain customers--especially repeat customers--you will need to have some regular shop hours. Make your shop known for something-a specific category (or two) of books, having some first editions for sale, all paperbacks a dollar and all hardcovers two bucks, and/or a swap program. Maps, illustrations, postcards, greeting cards and magazines are good sidelines to include in your shop.

32. WEDDING PLANNER

You will need to be up-to-date on wedding trends and fads, dress styles, color trends--almost everything under the sun! Offer your customers an ala carte menu of services, from helping pick flowers, the wedding gown and bridesmaid dresses to picking the venue and hiring the caterer. Before you open your business, shop at all the wedding shops, and even pretend you are a bride-to-be to see what kinds of services the wedding gown shop provides and how they treat potential customers. You need to know every detail of the business to give the accurate impression that you are the go-to person for anyone planning a wedding.

$1,500 to 3,000 to start up

To learn more about this business idea, check out Start Your Own Wedding Consultant Business.

33. APPLIANCE REPAIR
Experience, training or licensing may be needed

Every household has a number of appliances, large and small. You can work on your own or on contract with appliance stores to cover their warranty service calls--or, best of all, you can do some of each. Plan to start slow and build your customer base on recommendations and referrals based on work well done. Consider developing relationships with contractors to be the go-to person to install appliances in newly constructed houses.

34. COMPUTER TRAINING
Experience, training or licensing may be needed
Has expansion possibilities

If you are proficient in both Macintosh and PC, you should offer training in both types of computers. You could probably make a living helping seniors learn how to use the internet and e-mail to keep in touch with their loved ones, who are now commonly spread around the country. Err on the side of caution in this business. People do not want to know all the details about what makes a computer work. If you overload them with information from the beginning by explaining bits, bytes, and megapixels, they will stick to their paper and pencil forever.

35. DESKTOP PUBLISHER
Experience, training or licensing may be needed

You can use desktop publishing software to create newsletters, magazines, books or even marketing materials. You can create the content for your desktop publications, or you can pay a writer to create the content for you. Alternatively, you can advertise your desktop publishing services to design and create newsletters and books for others with their content.

36. FENCE INSTALLATIONS

Fences are everywhere. And they don't last forever, so they need to be repaired and replaced with a certain amount of frequency. The most common fence material is wood. However, vinyl has become a popular fence choice due to its longevity and relative freedom from maintenance. Wrought iron is another common fencing, especially in urban environments. You can have fun shopping for vintage wrought iron fencing at salvage yards.

37. FREELANCE GRAPHIC DESIGNER
Experience, training or licensing may be needed

Despite the proliferation of the internet, print media is here to stay for the foreseeable future! Fliers, newsletters, magazines, information sheets, letters and advertisements are just a few of the types of print media that business hire freelancers to create for them. Websites and online advertising need graphic design services as well. Even if your expertise is only in design, offer the works for potential clients, including the editorial creation and the printing and even mailing of the final piece. You can line up regular freelancers for those parts of the job you can't do.

To learn more about this business idea, check out Start Your Own Graphic Design Business.

38. GIFT BASKET SERVICE
Has expansion possibilities

Finding a niche is the best way to start out in the gift basket business. Are you a dog lover, horse lover, or exercise guru who could put together baskets that hold the things that people with this interest would like? Do you already create a product that a gift basket could be built around? Have you made your own soaps for the past 10 years? A gift basket that included one or two of your soaps, hand lotion, a scrub brush and manicure kit could be a lovely basket to receive.

To learn more about this business idea, check out Start Your Own Gift Basket Business and More.

39. GRAFFITI REMOVAL

Create an arsenal of cleaning products that can clean almost every kind of product (paint, chalk, markers) from every kind of surface (cement, wood, pavement). The best way to conduct a graffiti service is to offer a subscription-like arrangement. Once a month or whatever interval makes sense for your clients, go around to their property and clean off the graffiti. Charge them a monthly or quarterly fee and make it simple for everyone--they don't have to think about graffiti, and you just do your job.

40. HAIRSTYLIST
Experience, training or licensing may be needed

Hairstyling is a popular business that can be quite lucrative. Generally a home based hairstylist business is likely to be started by someone who has already has a cosmetology career and wants a change. If you already have your cosmetology training and license, and loads of experience under your belt working in a hairstyling salon, you probably have a following that will follow you right home without any hesitation.

41. LANDSCAPER
Experience, training or licensing may be needed

If you have a knack for this type of work, a degree won't be necessary. Most people want their yards tidied up in the spring, their lawns mowed in the summer, their leaves removed in the fall, and their shrubs and driveways ready for winter snow. You will also want to offer garden work such as spring planting of annuals and perennials; vegetable garden preparation, planting and fall cleanup; pest control and watering. You can offer tree care service. There is plenty to do in the yard that has nothing to do with plants: stone wall restoration, fencing, irrigation system installation.

To learn more about this business idea, check out Start Your Own Lawn or Landscaping Business.

42. MASSAGE THERAPIST
Experience, training or licensing may be needed

You will want to become certified in massage therapy to be able to effectively market your services. Courses that lead to certification include not only information on human anatomy and physiology and the effects that massage has on both, but also on how to make a business out of the field of massage. You could do either a certification program or an associate's degree and stay within the $5,000 scope of this book.

43. MOVING SERVICE

Lots of people who are moving want to hire someone to do the heavy lifting for them. You can leave the large-scale, long-distance moving to the big moving companies. Your work can be the local, moving-across-town or to the town-next-door jobs. These are the ones that people start off thinking perhaps they could do themselves, and it will be your job to convince them otherwise. Your signs around town will tempt them to let you take care of that part of the move, while they are busy taking care of those other 500 items on their list.

44. MUSIC LESSONS
Experience, training or licensing may be needed

You want to stick to the instrument(s) you know, but you may be a skilled enough musician to offer lessons on several different instruments, or those in a particular class, e.g., stringed or woodwind.You can decide to take on individuals or classes, depending on space and availability of instruments. Public schools are continually reducing their commitment to art and music classes for students, so you can try to work with the public school system to supplement their efforts in those areas.

45. PHOTOGRAPHER
Experience, training or licensing may be needed

Making money as a photographer can be done in a number of different ways. You can specialize in one area, the most common being weddings. There are niches you can explore for photography: portraits of people and their pets, families, and homes; photographs of holiday events, birthday parties or Christmas cards; the possibilities are endless.

To learn more about this business idea, check out Start Your Own Photography Business.

46. RUG CLEANING

You will need to learn how to work with all kinds of carpet fabrics, from synthetic to wool carpets. Decide whether you will take on valuable antique carpets and family heirlooms; if so, you will want to get specialized training in how to handle these carpets and the specialized ways of cleaning them. Learn how to get tough stains and odors out of carpets--such as dog and cat odors--and your services will be in great demand.

47. WEBSITE DEVELOPER
Experience, training or licensing may be needed

Many courses exist (many of which, logically, are offered online) where you can learn the language of website creation and can learn about the details, like how to set up shopping cart systems, security concerns, etc. You will, of course, need to learn about each company you design for. What is the atmosphere of the company that you need to reflect in the website design--is it wild and contemporary, meaning brilliant colors and fun graphics? Or will more classic colors like black, navy blue and maroon be more appropriate?

$3,000 to $5,000 to start up

48. BED AND BREAKFAST

Do you have a room that has its own bathroom and is private from the rest of the living space? Are you near attractions such as a tourist area, sports stadium or venue for a large annual event? Or is your home in the country with spring peepers, summer crickets and crisp fall nights that could give a city-dweller a weekend of peaceful living? Say you can rent the room for $150 a night for Friday and Saturday nights 48 weeks a year--that's $14,400 in revenue! Utilize what you have and create a unique experience.

To learn more about this business idea, check out Start Your Own Bed & Breakfast.

49. CHRISTMAS TREE SALES

If you want to start a Christmas tree farm, you need to plan ahead. It takes approximately seven years for a Balsam fir--perhaps the most traditional Christmas tree--to grow from a small sapling to a 5- to 6-foot tree. Selling your trees yourself is the best option. Consumers come to the property, pick the one they want, and you harvest it for them. The other option is to buy your trees from a wholesaler and sell them either in your yard or in a vacant lot that you rent from Thanksgiving to Christmas.

50. DAY CARE
Experience, training or licensing may be needed

Perhaps you love children. Perhaps you have children of your own and the idea of taking care of a few more for part of the day appeals to you. Child-care needs continue to soar in the United States. Many people prefer the option of their child being cared for in a home environment while they are at work, opposed to a more institutional-like setting. These things mean that a homebased childcare business can get off and running immediately.

Source: www.entrepreneur.com