Bill Bartmann

By Karen E. Klein

January 12, 2009

Staying profitable during a recession

Dear Karen: What costs can I cut to stay in business?

Answer: Business owners who try to stay profitable by reducing minimal expenses for the short term are rarely successful. "Turning up the thermostat or shipping by freight rather than overnight will not offset a recession," said Bill Bartmann, chief executive of BillionaireU.com.

Other companies in your industry are suffering the same loss of revenue and increase in operating expenses that you're probably experiencing. All you need to stay viable is to gain an edge: "You don't have to outrun the economy, you just have to outrun your competition," Bartmann said.

Rather than cutting small costs, think about increasing your prices. If your business has been profitable until recently, increasing your prices in proportion to increased expenses should allow you to continue to produce a profit.

Another idea is to attract new customers who are changing their purchasing habits because of the economic downturn. "Don't cut your marketing budget, but focus it in areas where your message will find desired new customers," Bartmann said.

Read the whole story here:

http://www.latimes.com/business/la-fi-inbox12-2009jan12,0,4671295.story

Going into business for your self is a big step, from choosing a business to building a business

Tulsa, OK - Bill Bartmann, a self-made billionaire recently began a second series of interviews where he is discussing business ownership. During this segment of his interview series, he is going to discuss how to choose a business and the items that influence our choices. "Studies have shown that nearly 1/3 of small businesses fail within their first 2 years and nearly have of the other 2/3 will fail within 6 years. Therefore, it might make sense to look for a business that has been operating for at least 6 years," explained Bartmann.

There are many other things that will influence one's decision as to what type of business to buy. The first thing that comes to mind for many entrepreneurs is money, of course! How much money will I make with this business? Investment is the next issue. How much money do I have to invest up front?

"There are many other things to consider," said Bill Bartmann, "including the market demand for the business you are considering, whether the business has experienced consistent growth, the degree of risk involved in the business and obligation to the business; how much of your time is the business going to require?"

Choosing a business takes time and research. There are a lot of things to consider before making a choice. Do your research and get to know the business before making the final decision to purchase.

Bill Bartmann is a self-made billionaire who has created the Billionaire Business System, a series of books and seminars that teach you what you need to know about succeeding in any area of business. Visit Bill Bartmann's website http://www.billionaireu.com for real business guidance to succeed even in tough economic times.

Contact:

Bill Bartmann

8556-C E 101^st Street

Tulsa, OK 74133

918-388-3328

bill@billbartmann.com

Bill Bartmann discusses the three possible paths to business ownership; pros and cons of each

Tulsa, OK -- Bill Bartmann has been nicknamed, the ‘billionaire nobody knows.' He has experienced the rise and fall of 2 businesses. Through his experiences, Bill Bartmann has learned a lot about business ownership and how to avoid the common pitfalls. Bill Bartmann recently agreed to a series of interviews related to business ownership and it made sense to begin with choosing the path to business ownership.

Bill Bartmann discussed the pros and cons of starting and building your own business. In addition to the obvious, being your own boss, Bill said, "You begin fresh and you have total control on how the business will be managed and you are free from obligations to franchisors. You choose the location and determine the products and services you will offer. But, there is a downside; the work involved in the start-up process, including business licenses and permits, establishing credit lines with suppliers and building a customer base. New businesses often find it difficult to secure financing while they take longer to show profits."

It would seem that purchasing a franchise would be a sensible path to business ownership. This was the next item that was addressed during the interview. Bill explained that this path reduces start-up work as the business is in place, including the layout, displays, techniques, policies and procedures and much more. In addition, "The financial risk in owning a franchise is reduced since they already have an established product or service and a proven business model. For example, McDonalds is a very well-known name and they attract a lot of customers," said Bartmann. "There are disadvantages one could face when buying a franchise, including the high franchise fees required upfront. These fees can range from a couple thousand to hundreds of thousands, depending on the franchise. Some do not offer the support and assistance to help new franchisees get started."

The third path to business ownership discussed was buying an existing business, enjoying the benefits of reducing start up work without the obligation to a franchisor. Bill Bartmann explained common pitfalls of buying an established business, "The required investment could be quite high compared to starting a business. Why was the business being sold? It could be that they are not as profitable today; their product or service could be losing popularity or becoming obsolete. Though they may show a lot in receivables, many could be uncollectable."

Bill Bartmann made it clear that business ownership requires dedication, focus and investment; however, it also offers many rewards. If you plan to start your own business, you will need to be prepared to dedicate a lot of time and energy to become established. If buying a franchise is for you, research the franchise, talk to other franchisees in the business and check to see if they have a good support team for new franchisees. Get to know a business before you purchase it; try to watch their everyday operations, talk to employees, vendors, and anyone who has a business relationship.

Bill Bartmann offers online business courses so people can develop the necessary basic business management skills to be successful. Bill Bartmann's Billionaire Business Systems has helped thousands of entrepreneurs reach their goals by showing them how to strengthen their business even during times of economic uncertainty. Bring out the Billionaire in you; visit http://www.billionaireu.com/

Contact:

Bill Bartmann

8556-C E 101^st Street

Tulsa, OK 74133

918-388-3328

bill@billbartmann.com

Working at home offers the benefits of making your own hours; though it may mean working more hours, you will be doing what you like doing and getting paid for it. A home-based business might be right for you, but realize, it also has a downside.

Is your home right for your choice of business?

Before considering starting your home-based business, you need to determine if you have the necessary space needed to operate your business. If you live in a condo or an apartment, there may be restrictions as to what you can and cannot do in your business. There might be zoning requirements to be considered. There is also some liability exposure for some types of businesses. You may need additional insurance to protect your self.

Distractions of working at home

Working from home can be distracting, especially if you have children. You're not working; you're at home, so your children can burst in with their complaints about their siblings, to complain about problems at school or to announce they need a new bike.

An at-home business changes everything. You need to alter your lifestyle and your family must be supportive in order for you to succeed. You might need to convert the basement into your home-office. Maybe this used to be the place where your kids and their friends used to gather after school.

If your business requires use of the phone, and you don't have an extra line, it will be important that the children understand that they will not be able to spend the amount of time on the phone that they used to. Also consider that your phone will be ringing outside of regular business hours.

At at-home business affects the entire family; everyone in the household will need to be supportive and to recognize that the rules have changed.

Can you do it all?

As an entrepreneur, you will need sales skills and marketing skills to reach your target market and sell your product and services. Every business depends on sales in order to grow and expand. In a home-based business, success depends on your skills and talents. You need to have a good business plan, a marketing plan and a sales strategy. You will need to develop a customer base and maybe even negotiate a line of credit to finance your business.

When you work from home, you are often the boss, secretary, receptionist and business planner while being a parent too. There is no office cleaning service to empty waste cans and maintain the office equipment. If you have a fax machine and copier, you change the toner cartridges and pay for a service contract to keep it working properly. There is no supply cabinet that is magically replenished as you run out of paper, pens, white-out, file folders, etc... It is all up to you to maintain your office supplies and equipment while running your business.

When you operate a home-based business, your success depends on you alone. There is no supervisor to consult with on a difficult project. There are no other employees to have lunch with or visit with in the break-room.

Bill Bartmann says many people do not have the knowledge and skills required to go into business for themselves. This is the reason he created his online business courses to help aspiring entrepreneurs to get a good start by making good decisions. Bill Bartmann's Billionaire Business Systems has helped thousands of entrepreneurs reach their goals by showing them how to strengthen their business even during times of economic uncertainty. Bring out the Billionaire in you; visit http://www.billionaireu.com/

How long have you been working at your job? Have you developed some skills, knowledge and experience that would be helpful in putting your own talents to work? Are you ready to give up the 9 to 5 grind and start your own home business?

Just think; you can wake up, put on a comfortable pair of sweats, get a cup of coffee, turn on the TV or stereo and get to work. Maybe your job will just require a laptop computer, or maybe you need an entire office set-up with a fax machine and copier too.

Sounds great, but starting a business is not something to jump into without careful planning and consideration. You will need to invest time and money into your venture and a solid business plan to be successful.

New businesses typically take one to three years to start making a good profit; in the mean time, there is not a regular paycheck coming in. A home business is not a get-rich-quick idea; otherwise, everyone would be doing it. The success of your business depends on you; are you dedicated? Do you have a solid plan? Does our plan include future growth and expansion? You must be committed to the business and focused on your goals to be a success. You will have to make many sacrifices as work will be your number one priority. You will have to pass up nights out with friends, vacations and maybe even family time while getting your business going.

Successful entrepreneurs know where they want to go and they are willing to do whatever it takes to meet their goals. When planning to start a business, they are focused on their objectives; they realize they will need to work long hours and be committed. It is important to be organized and dedicated to work, without being distracted by your home environment, friends, family and neighbors. If you are one who procrastinates or is easily distracted, a home-based business is not for you.

Though working at home can require long hours, you don't have to be in the same place for a set time, like 9am to 5pm. You have the freedom to make your own hours and you get paid for doing what you like doing. If you work at home, you save money on gas and wear and tear on your car. You have less overhead cost as you don't have to buy or lease an office or store space. The desire to live a more independent lifestyle is often the strongest motivator to work at home.

Bill Bartmann is a self-made billionaire who accepted the risk involved with business ownership. Bill Bartmann offers online business courses so people can develop the necessary basic business management skills to be successful. Bill Bartmann's Billionaire Business Systems has helped thousands of entrepreneurs reach their goals by showing them how to strengthen their business even during times of economic uncertainty. Bring out the Billionaire in you; visit http://www.billionaireu.com/