Patent Litigation Insurance: Do You Need It?
I recently came across the concept of Patent Litigation Insurance or Intellectual Property Liability Insurance while doing my research online about patents. I must confess that I am attracted to the idea of getting one.
You may or may not know it, but chasing someone in court for infringing on your patent is a very expensive and exhaustive process. Patent litigation cases drag on for years and costs up to millions in dollars in legal costs.
I must admit that the sheer cost of patent litigation is what first drove me to reconsider starting a business which involves products that require a patent. Being a small business owner, I don’t have the financial capability to go after counterfeiters who would wantonly counterfeit my products...
Selling Coins on eBay: Things to Consider as a New Lister
I have been collecting coins since my childhood days and I have finally decided to sell some of them. My coins collection consists of coins from various countries. I didn’t buy any of them. They’re just coins I happened to collect when I traveled to different countries.
I was also able to collect a lot of coins because we had a retail shop and most of our transactions involve coins. If you own a retail shop, no matter the size, it’s a good idea to also be involved in the coin collecting and selling business, as coins are your byproducts.
There are currently many online e-commerce sites where you can sell coins, but I chose eBay because it doesn’t charge upfront fees for listing your coins and other products. As we’ll see later, this would be very important.
Also, far from the rosy depictions of some eBay seller cum influencers online regarding how easy it is to make money on eBay selling coins, I found that the reality was different.
Here are some of the things you need to consider when selling coins on eBay:
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Greeting Card Business: The Joker Greeting Cards Way
If you want explosive growth in profits for a business you’re planning to start, then the greeting cards business might not appeal to you.
Make no mistake, there is money in the greeting cards business: According to Business Wire, the industry has an estimated worth of USD 19.25 billion in 2022 and is expected to be worth USD 20.66 billion by 2030.
These numbers might seem big, but the CAGR is just 0.9%, which is way, way below most industry standards.
However, despite this, there are still entrepreneurs who’ve managed to not only thrive but become very profitable in the greeting cards business.
One of this is the Joker Greeting Cards company which sells prank greeting cards. Just to give an idea of how profitable the company has been, it is primarily staffed by one person only but still manages to earn USD 100,000 a month in gross sales.
However, this is not the important figure. I’m sure that you’re interested in this one-person company’s net sales. Well, as of 2019, its’s USD 30,000 a month or USD 360,000 a year which is an impressive amount considering that the average salary in the U.S. is USD 60,000 per year.
Here’s a few information about Joker Greeting Cards, maybe we would all learn a thing or two about its business model and how it managed to crack the greeting card business successfully.
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Renting Out Apartments By Renting by the Rooms
There are people whose main or part business is renting out their real estate. These can be buildings, houses, apartments, garages and so on. But not many are lucky enough to have a portfolio of real estate properties.
Most people only own a single real estate property which is the reason why their real estate business is not very profitable. But there is a way where even though you own a single real estate property, you can still increase your income.
The solution is not to rent out your single real estate property to only one set of tenants, like a family. Rather, you rent out the rooms of your single real estate to multiple set of tenants.
This way, instead of collecting rent from only one set of tenants, you instead collect rent from multiple set of tenants without having to buy additional real estate properties
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Starting an Energy Drink Company The Logan Paul Way
As the title suggests, this is not a generic article which would advise you to start an energy drink company the traditional way. Rather, this article would be about personal branding and how important this is these days.
The traditional way of starting an energy drink company, or any beverage company for that matter, was to create your own formula for a beverage drink, build factories & offices, manufacture and bottle it, and then market it to your customers.
But times have changed. Today, you no longer need expensive manufacturing facilities just to create and sell energy drinks. For the most part, you can outsource almost all of your business processes.
This is what media personality Logan Paul and his partner, KSI have done. They used their celebrity fame to sell energy drinks.
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Starting a Bottled Water Business Using Tap Water
More people these days buy bottled water than bottled soda. The global market for bottled water is accelerating fast, while the global market for soda is ebbing. Many business experts predict that globally, bottled water would overtake bottled soda in terms of market size.
In fact, according to an old 2017 article by CBS, bottled water overtook soda as the number one drink in America. This is according to the consulting firm Beverage Marketing Corporation.
It’s also now 2023, and a lot of people know that many of the bottled water being commercially sold is nothing but tap water. Health experts in the US have determined that even the biggest water bottling companies are bottling tap water.
Also, bottled water is sold at a much bigger markup than bottled soda, making them more profitable to sell, although they are cheaper to produce.
With all these details presented, it is safe to assume that you have a high chance of earning a lot of money if you sell bottled water, even though it is just bottled tap water.
Here are a few steps to starting one:
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Why a “SariSari” Store Could be a Good Business
In America and many other industrialized countries, big supermarkets have taken over from small general stores.
But if you think that supermarkets have spelled the end of general stores on a global basis, there are actually many countries around the world where small general stores are not only surviving, but are growing.
In the Philippines for example, there are sundry or general stores called “sarisari” stores that serve their immediate neighborhood. In fact, sarisari stores are right in the middle of supermarkets and their customers.
Usually, sarisari store owners buy their products from supermarkets and then resell them to the people in their immediate neighborhood.
If you’re planning to start a small business, perhaps you might need to consider a sarisari store business:
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Starting a Successful Photocopy Business or Xerox Business
If you’re ever in the vicinity of a school or a government services institution, there is a high likelihood that you’ll see businesses offering photocopy or xerox services. This is because people who go to these institutions are likely to need photocopy or xerox services.
For example, government services institution always demand photocopied or xeroxed versions of your original personal documents. Schools too always demand their students to photocopy or xerox learning materials.
For example, our shop is near a school and students come to us to have their school records photocopied and xeroxed. There isn’t a day when someone avails of our photocopy or xerox services.
But for the most part, you need to complement your photocopy or xerox business with other business offerings in order to earn a full-time income.
Here’s a guide to successfully starting a photocopy or xerox business:
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Collecting Coins Profitably in 11 Steps
Collecting coins can turn out to be a very profitable hobby, investment and/or business. For example, there are old US pennies that have sold for half a million dollars and more.
So, take a good look at the coins in your pocket or purse, their value might be way much more than their face value.
Here are a few steps to help you have a good start in your profitable coin collecting journey:...
Marketing Diamonds: One of the Best Marketing Success Story
The De Beers Company’s success in selling diamonds has long been one of the legends in the business industry.
They have actually convinced many couples that a diamond ring is a requirement to be engaged. Many Fiancés have been convinced by De Beers that they should spend at least “two-months salary” for a diamond ring in order to show their love to their fiancée.
De Beers have convinced many in the public that diamonds are “rare, precious and a status symbol. In fact, the average diamond engagement ring today is sold at around USD 3,000 (in the US) just based from this public perception.
However the reality is very different from the public perception: Diamonds are not rare and are also not in short supply: In fact, during 1999, Nicky Oppenheimer, the chairman of De Beers, even stated that:
”Diamonds are intrinsically worthless, except for the deep psychological need they fill.”
But why in spite of this fact, are diamonds still highly valued? Is the advertising of diamonds so successful that generations of people still believe that they are very valuable? Find out in this article....
Selling at Flea Markets: 7 Steps to Achieve Success
Selling at flea markets is a good way to earn part or full-time income because you don’t need a lot of money to start one. Also, flea markets are mostly held only on weekends.
This allows you, the aspiring entrepreneur to still have regular jobs on weekdays and sell at flea markets on weekends or whenever you have free days.
Selling at flea markets might not need a lot of money to start and have a low barrier to entry, but don’t underestimate the knowledge, planning and effort needed to make it a successful business.
Here are a few steps to achieve success in selling at flea markets:
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Gift Basket Business: 11 Steps to Start and Thrive
At a glance, a gift basket business might seem like a simple one. After all, it just requires repacking similar and even dissimilar products in a beautifully packaged container.
However, don’t let the simplicity of the gift basket business fool you, it already has a market size of USD 26.3 billion as of 2019, beating out much more capital intensive and complex industries.
Also, it has been predicted that the gift basket industry would grow to 60% of its current 2019 market size by 2026. The industry has a really bright outlook.
Maybe you’re interested now to start one, so here are a few steps to starting and thriving in the industry.
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How to Become a Motivational Speaker: 11 Steps to Help You Succeed
According to PR Newswire, the global motivational speaking industry is forecasted to grow to 28.37 billion by 2025. It has a projected annual average growth of 14%. Any industry that has 10% or more growth is considered a very promising industry.
As of 2020, 33% of life coaches, which is another term for motivational speakers are in the US. There are 17,500 motivational speakers in the US.
From this figure, we have a rough estimate that by 2025: an average American motivational speaker would be earning about USD 500,000 per year.
Motivational speaking could be a good career for you especially if you are concerned with the earning potential of your career...
Why Do People Dislike You Almost Instantly?
Most people don’t dislike other people instantly. Usually, people reserve their judgement upon meeting a person for the first time and then wait to know a person a little more before deciding to consciously or unconsciously like or dislike them...
Do You Need To Put Ads On Your Website As Early As You Can?
There are many ways you can monetize a website. For example, you can put ads and affiliate links to it, set up a Patreon or Donate Form, or sell your own merchandise like books, digital downloads, mugs, t-shirts and so on...
Anything Wrong With American And British Kids Wanting To Be YouTubers Rather Than Astronauts?
During 2019, a survey conducted on 3,000 children from the US, UK and China by Ars Technica which was sponsored by the LEGO company revealed that US and UK children would rather be YouTubers than astronauts when they grow up...
Can Hope Be A Profitable Product?
Let’s face it, for the vast majority of people living on earth, life can be very hard and dangerous. For example, according to Statistics Time, nearly 2 people die every second. That’s right, during your 15 minute coffee break, about 1,800 people would have died....
Could A Virtual Multi-Restaurant Strategy Increase Your Restaurant Profits?
The restaurant industry is very competitive. It’s hard not to find one even if you’re just traveling a short distance. According to an old article by a web scraping website named TheWebMiner Blog, there is approximately 15,000,000 restaurants as of 2014...
What Can You Do To A Jealous Person?
Jealous people can be very dangerous. There are people who have actually harmed and even murdered people they’re jealous with. The issue of jealousy is especially relevant today where indulging in social media is a very popular activity...
Do You Know How Important Is Your Customer Or Even What They Want?
There are so-called business coaches who foolishly teach that if you are interested in a particular idea/product, it proves that there is a demand for it and that you can make a business out of it. This is a very foolish way of thinking...
Do You Have Real Friends?
What is the lowest kind of friendship if you can even call it friendship? You may think that just because you share the same hobby or likes with someone, or just because you spend a lot of time with them like being your co-workers or team mates, they’re your friends...
Can You Potentially Make Good Money With An E-Learning Business?
Yes, there is potentially good money to be made with an e-learning business. According to the industry reporting company, Statista, the e-learning industry is projected to reach US$ 166.60 billion in 2023 with an annual CAGR of 9.37% from 2023 to 2027. The industry is projected to reach US$ 238.40 billion by 2027...
Tony Robbins: A man who can make “words” into million dollar products. What’s his secret?
In case you don’t know who is Tony Robbins, he is considered as one the most successful “Life Coach”. In case you’re not aware of what a life coach is, it is a person who counsels and encourages their clients on matters having to do with careers or personal challenges...
Apple Launches Audiobook AI Narration Services: As An Author, Should You Use It?
Apple quietly launched an audiobook AI narration service last December 2022. At the time of this writing, the service is free to use. Apple at the moment currently only accepts audiobook submissions for the “Contemporary Romance” fiction category, though it is also set to kick off with its non-fiction “Self Development” category...
Steve Higgs: A Successful Author That Deviates From The Norm
Author Steve Higgs might not be famous enough yet to warrant his own Wikipedia page, but his writing career and style is worth a study even if you are a seasoned or a new author...
Should You Target The Contact E-Mail Of Websites If You’re A Digital Products And/Or Services Seller?
You should. This is because many digital products and/or services sellers usually wait passively in such freelancing sites such as UpWork and Fiverr for customers to come to them. Your aggressive competitors meanwhile scour the internet for prospective clients...
Should You Consider Selling Potato Dishes? Are They Very Profitable?
According to an article by Yahoo!Life of which their reference website is TheStreet a personal finance website: “A fast food chain can usually get a pound of potatoes for about 15 cents but can sell them as fries for about $6 per pound.” ...
Diversified Cleaning Empire
When I first arrived in Australia I soon realized that it was hard to get a job if you do not have local experience. This was what my other companions who were all newly arrived immigrants experienced. So, my companions and I took on cleaning jobs in whatever company that would employ us...