Read Frequently and Improve the Quality of Life....

The more you read, the better you perform; let it be your job or your own business. And reading is not just about optimizing your professional perform, but it can boost your overall quality of life. Do take ten to fifteen minutes every other day if not every day, for reading, and in a week's time you will start experiencing a lot of new positive energies around you. To start with, here I am sharing what I recently read:

• About China being the number one economy... https://www.inverse.com/article/39744-china-number-one-economy
• A 400 billion dollar industry that most of the entrepreneurs are ignoring... https://www.inc.com/tommy-mello/3-reasons-why-you-should-start-a-business-in-this-400-billion-industry-that-most-entrepreneurs-ignore.html
• Robots are going to make your life better at workplace and will not deprive you of your job.... http://www.telegraph.co.uk/business/2017/12/28/dont-fear-rise-robots-automation-will-good-jobs-think-tank-says/
• Want to compete Microsoft? Know what it is like.... https://www.forbes.com/sites/forbesfounders/2017/12/27/what-its-like-to-compete-with-microsoft/#65b6ea6f40e4
• Are you a women entrepreneur looking for loan? Check this list... http://www.laudablebits.com/small-business-loan-tips-resources-for-female-entrepreneurs/
• Making money baking is the way to go for those who want to do business from their comfort zone.. http://www.businesstrend.us/small-business/how-to-make-money-by-baking-at-home.html
• And, starting a business from university is the best time.... https://www.smallbusinesskit.co.uk/starting-a-business-while-at-university-a-hot-opportunity/

Have fun and happy new year!

Opening a Small Scale Laundry or Dry Cleaning Service

Laundry and dry cleaning services are among growing small business industries. That’s why there can be tough competition and so opening your own dry cleaning and laundry service can be challenging and labor intensive.

However, with careful planning, adequate financing and strong customer service skills, you can open and operate your own business successfully in this growing industry.

This article will sum up the steps to start your own small scale laundry service or dry cleaning business. Here goes the list:

1- Study the industry by working in a dry cleaner for a year before opening your own. While this is not a requirement, it will allow you to gain needed experience and to know what you need and don't need to purchase. You can also have a better idea about profitability of a home based laundry.

2- Must do market research, prior to starting your business. Find how many competitors are in your market, what they offer and what they charge for their services and what different you can offer to grab the market share.

3- Make sure to have a laundry business plan in hand to take start. It’s going to be a roadmap for success.

4- Get a complete list of equipment for laundry business and make sure you buy or lease durable one.

5- Get connected to local officials to get permits and licenses to operate your location.

6- Start operations and focus more on getting clients yourself.

7- Hire efficient people who deliver work on time, i.e. washers, delivery drivers etc.

8- Market your service to businesses in your community. Offer coupons, especially on social media, for individuals to try your service.

Starting a dry cleaning is almost same, however, you may need to see the profitability of small scale dry cleaning service in a different way.  Also, the cost of home based dry cleaning service may vary depending upon the required equipment and space.

Market Research is a Must before You Start Investing in Startups

Startup investing is a risky business, but it’s probably the most lucrative investment option too! Small scale investors who are looking for bigger returns are often tempted by such opportunities, and invest their money without solid research.

This is a big mistake that leads to investment failures. Well, it doesn’t mean you should not invest in startups, but yes, you must explore the market first!

It is absolutely critical to see what competition the startup in question has and what kind of competitive advantage they have been able to put in place in order to beat everyone else in the race.

You may know the fact that in case if the startup has a bigger competitor, the competition could acquire the startup instead of cloning their work, so investigating the appetite in the market could be beneficial.

Further, you must also make sure that the startup is operating in a big market and the team is focused on customer development and they really care about customers!

Also make sure that the startup is taking customers’ feedback as well as industry experts’ opinion seriously, because it’s the key a startup needs to pivot or iterate the product until they get it right.

Moreover, startup financials is a key area to investigate. Do check how to look carefully into startup financials before making an investment decision.

You may find it interesting to read: why is it important to check startup financials before investing?