How to start a business in Nevada | NCET Biz Tips - Reno Gazette Journal

How to start a business in Nevada | NCET Biz Tips - Reno Gazette JournalHow to start a business in Nevada | NCET Biz Tips - Reno Gazette JournalPosted: 18 Mar 2020 11:05 PM PDTDave ArcherPublished 10:44 p.m. PT March 18, 2020 CLOSE Subscribe:Stay in the know with a digital subscription to -- and get 3 months for just $3!NCET helps you explore business and technologyNevadans start several thousand new businesses each year. If you'd like to be one of them, NCET and the Reno Gazette Journal are pleased to introduce a new monthly column designed to help you start your business.Each month, our local business experts will explore a key part of the business planning and decision-making process as we walk through the areas that can make or break your business.Overall, these monthly columns will follow the same format used in creating a business plan. If you're a regular reader of NCET's columns, you've seen me standing firmly on this soapbox before. A business plan is th…

The benefits of starting a business with luxury cars for rental - The Jerusalem Post

The benefits of starting a business with luxury cars for rental - The Jerusalem Post

The benefits of starting a business with luxury cars for rental - The Jerusalem Post

Posted: 15 Feb 2020 09:02 PM PST

There are plenty of business ideas that can be implemented easily provided that they rely on solid plans and on the demand of the market. Both traditional and online businesses can be successful as long as they consider their market options and they are realistic.
One of the most eccentric business ideas is that of starting a luxury car rental company, the keyword here being luxury. Such an idea connected to a city where luxury is at home could, however, prove to be very inspiring and successful. One of the countries that scream luxury is the UAE, so those who consider starting a luxury car rental business in Dubai could hit the jackpot.
Here are some of the benefits of opening a company that offers luxury cars for rental.
Enter an industry in full development
The car rental sector has not reached its full potential yet, which is why starting a business in this industry provides the advantage of being among the first companies to offer such services. When choosing to perform a luxury car rental business, some might even be the first to provide such services, therefore creating a brand is easier.
Attracting people to rent luxury cars is not a problem and this is another reason for which such a business idea will turn out successful from the beginning. Imagine offering Ferrari cars for rent in a city where such cars are seldom seen on the streets. Such a venture will without a doubt help in becoming popular and increasing client numbers.
Good profits
Without a doubt one the reasons for which an entrepreneur starts a business is related to profit. A luxury car rental business is for sure one of the best ways of making good profits. Offering the possibility of short-term and long-term rentals that fit all pockets will definitely be in the advantage of the owner and a good marketing strategy which will help spread the information about the company around the world.
The luxury car rental industry is a niche sector and can offer market exclusivity to the owner of such a company. One can decide to offer for rent single or various brands of cars and, from there, he or she can expand the business and create personalized packages. It is common knowledge that people prefer customized services, so the exclusivity will not be only towards the company, but also towards the business.
Starting a luxury car rental business is one of the most profitable ideas and, when set up in a city or even country that offers exclusivity and access to a developing market, it can turn into a brand and yield very good revenues.

Ask SCORE column: Telling the difference between good business ideas and bad - Savannah Morning News

Posted: 07 Feb 2020 12:00 AM PST

If you are like me, occasionally you get an idea for a new product or service, or a better way to do something. As you think about it more, and maybe when you get positive feedback from others, you think, "This idea can become a successful business!" Maybe. Maybe not. How do you know? Well, there are four criteria that define a good business idea.

It fills a need or solves a problem

Generally speaking, if your new product/service does not fill an unmet need or solve a problem, no one will buy it. (I say "generally speaking" because we have seen the success of Pet Rocks, Chia Pets, and other head-scratchers.) A great example of a business idea that addressed a huge problem is Uber. They identified everything people hated about hailing a taxicab; designed a business model that addressed the problems; created an innovative, easy-to-use solution; and changed the ride-hailing industry forever. Other examples include Amazon, PayPal, and Airbnb. Like them, your idea must fill a need or solve a problem.

It is thoroughly thought out, carefully researched and clearly defined

These are critical elements. Once you have determined the need or problem you think your idea will address, you need to

Think it thorugh in detail

Figure out if there are issues or opportunities that did not occur to you when you first had the idea.

Do your homework

Obtain as much information as you can about existing products/services like yours (to help you determine how yours would be different and/or superior), the industry you hope to enter, regulatory or legal considerations, and other external factors that could positively or negatively impact your success.

Ask people what they think

Get as much feedback as you can. Seek doubters and critics, not just cheerleaders. If no one has asked you, "Well, what about this?", you are missing something. Ask people if they would buy it. If so, how much would they be willing to pay? If not, what would make it more attractive to them?

Crystallize your concept

Your concept must be focused and clearly defined. It should be a "rifle shot" not a "shotgun blast". This will help you conceptualize your brand, identify your specific markets and potential customers, determine how to differentiate yourself from your competition, and, help you determine how viable your idea may truly be.

It must be financially viable

Ultimately, the measure of a good business idea is whether people will buy it. Some products introduced by large, successful companies were colossal failures because no one bought them. The Ford Edsel, Crystal Pepsi, Google Glass, and Microsoft Zune are just a few. This reinforces how critical it is for you to do your research and make sure there really is a market for what you want to sell.

It should be scalable

Lastly, your business should be scalable, i.e., be able to expand and grow. For example, an individual consultant or hair stylist can't scale because they are selling a limited resource: their time. Someone who hand makes their product is limited by the number of units they can personally produce. To succeed in the long run, your business idea must allow you to grow and be able to meet the needs of your market and customers.

Michael Siegel has been a SCORE mentor since 2013 after a 40-year career in health care. He now serves as chair of Savannah's award-winning SCORE Chapter.


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