ENERGY CONSERVATION BUSINESS OPPORTUNITIES AND MORE
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Energy business opportunities include energy conservation business opportunities, alternative energy business opportunities, and much more. Like every other business sector, some of those opportunities are really good, some are really bad, and some are outright frauds. What do you do about that? Educate yourself. If you have an idea or talent that you want to turn into a business there is a right way and a whole lot of wrong ways to develop that idea. One wrong way is to browse business opportunities, find something that looks close to what you want, plop your money down, and sign papers. Bad idea, really bad idea. On the Energy Investing pages we discuss the fact that when you invest in stocks you can lose all of the money you invest. When you invest in your own business you can lose all of the money you invest, and after you sign all the papers needed to start the business, you can lose everything else. Bankruptcy, total and complete. Any business venture involves financial risk. But there are ways to limit that risk and greatly increase your chances of being successful. _________________________________________________________________
FINDING THE BUSINESS You may already have an idea about what kind of energy business you want. If you haven’t decided, start by doing some keyword searches. Research, but do NOT sign any agreements of any kind! Not yet. _________________________________________________________________
GOOGLE IT – Enter you keywords into Google and explore the sites. If you’re interested in energy conservation business opportunities then enter the appropriate keywords. A lot of energy conservation sites will come on screen. You can pin down the search by adding more keywords such as home energy conservation, certified energy manager, transportation energy saving, and more.
Custom Search
Wikipedia is another great resource. If you enter a search term like energy conservation you will get a page complete with home energy conservation, industrial energy conservation, transportation energy conservation, conservation links and much more. A simple, energy related keyword like Energy Conservation entered into either Google or Wikipedia will generate a weeks worth of research material. You will need to narrow that material down to the energy conservation business opportunities you’re interested in. After you do the initial research and get a clear picture of the energy business you want, it’s time to explore your business start-up plan. _________________________________________________________________
SMALL BUSINESS ADMINISTRATION Your first step into the business world should be the Small Business Administration . The SBA is sponsored by the U.S. Government and is a fantastic resource for anyone wanting to start a business. The services are free (your tax dollars pay for them). If you really want to succeed, the SBA is an indispensable first resource. If you are not a U.S. resident there is probably a similar organization sponsored by your government; assuming of course that you have the good fortune to live in a free, industrialized nation. The SBA web site has an array of great resources including business start-up tutorials, business planning guides, and much more. _________________________________________________________________
SERVICE CORE OF RETIRED EXECUTIVES One of the greatest SBA resources is SCORE or the Service Core of Retired Executives . SCORE, as the name implies, is composed of retired successful business executives. These folks volunteer their time to help you succeed in business. Why would they do that? Over time, as they have enjoyed success, they have developed an absolute passion for business. They have learned that business is the greatest game in the world. And they have learned that, as a wise man once said, success is not a destination - it is a journey. It’s almost like having Donald Trump, if he ever retired, for a free personal mentor. It’s not an overstatement to say that your SCORE contacts are priceless. _________________________________________________________________ CHAMBER OF COMMERCE Another excellent resource is the Chamber of Commerce. Check out the U.S. Chamber of Commerce site. It also contains a lot of valuable information. You might want to peek at their energy pages, too, and get a perspective on energy from a business point of view. The Chamber of Commerce Index Pages list local Chambers of Commerce nationwide and make it easy to locate your area Chamber. While you’re working with the SBA, SCORE, and the Chamber of Commerce, be sure to get references on both business bankers and business attorneys. You’ll need both before you go very far into the business world. _________________________________________________________________
YOUR BANKER Your business banker may be your single most important business partner. For every dollar you invest in your business, your bank may contribute another five dollars, maybe more. That money is contributed in the form of a loan. If you succeed, your bank partners succeed. If you fail, they fail. It’s easy to see that your business bank partners are going to do everything humanly possible to be sure that you have all of the tools you need to be successful. And if you don’t have the necessary tools, they won’t loan you the money. Don’t be disappointed if your first attempt at a business loan is rejected. The rejection means that you have to put together a few more parts to launch a successful operation. Think of it this way. Would you really want your bank to loan you money on a business deal that would probably fail – and take both you and your bank down with the failure? Of course not. And that’s exactly why you shouldn’t be discouraged if your banker tells you that you need to make some improvements in your business plan. Business bankers are very business savvy. They have to be because they usually put up the bulk of the money to launch and operate a business. That business expertise works for you, not against you. In addition to being a major source of capital, your business banker is a trustworthy business advisor and a great business contact who knows a lot of other business contacts. _________________________________________________________________
YOUR ATTORNEY You also need to get a recommendation from your SBA, SCORE, Chamber of Commerce, or your banker for a good business attorney. Your business attorney is another contact who knows the folks you should be doing business with where ever you live. He also knows whom to avoid. Form an early habit of consulting with your attorney about every important document you need to sign. When you have papers to review and sign, let people know in advance that any contracts you commit to will be reviewed by your attorney. State in writing that any agreement is subject to review by your attorney. In Benjamin Franklin’s words, ‘An ounce of prevention is worth a pound of cure’. The very knowledge that your attorney will review a contract will often stop less-than-equitable terms from being slipped into an agreement. Before you sign any business documents, get a reliable attorney to review everything. And don’t forget, just because your attorney is reviewing everything doesn’t mean that you shouldn’t read it, too. Read and understand every word of every contract you sign! Otherwise, don’t sign. _________________________________________________________________
SUMMARY Your core business start-up contacts are: The Small Business Administration
That support core will get you off to a good start. If you find that you aren’t yet ready to start your dream business don't be disappointed, and don't give up. Remember - you don’t want to start a business. You want to start a successful business. _________________________________________________________________ _________________________________________________________________
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