Woman of 25 million US-dollars a year on eBay reveals how to make money online

Could you a fortune in your home? Madam, the $25 million in the year on eBay shows your best tips for making money online - and says, most people have at least $3,000 in the value of positions "just lying around."

• Linda Lightman, a 53-year-old eBay expert, has your luxury consignment stock, Linda's stuff, in a multi-million dollar business
• The Mother of the two, who lives in the suburbs of Philadelphia, Pennsylvania, received her start selling their sons' video games on the web site 15 years ago
• Linda always your best tips for a top eBay seller in the celebration of the site 20. Anniversary

a woman, who is in the amount of 25 million US-dollars in the year for the sale of clothing on eBay has always result in your tips for a bestseller in celebration of the e-commerce Website of the 20. Anniversary on Thursday.

Linda Lightman, a 53-year-old eBay Seller life in the suburbs of Philadelphia, Pennsylvania, has your luxury consignment stock, Linda's stuff, in a multi-million dollar business in the course of 15 years.

The mother of two, got her start to sell their son of video games, said Daily Mail Online: "Most people do not know that the average household has more than 52 products with a value of more than $3,000 just lying around your house to sell.

Linda Lightman, a 53-year-old top eBay seller

Treasure Hunter: Linda Lightman, a 53-year-old top eBay sellers, is running the mission shop Linda's stuff, makes 25 million dollars in sales in one year on the e-commerce website, "but

you must not limited to what in your house. Branch. You can make money selling other products on eBay," she added.

For Linda, a former labor and employment lawyer in New York, it all began, as you ran from video games and began with the sale of her own clothes, shoes and accessories.

"I was always so passionate about fashion and for me it was a no brainer," she said.

"Within a few weeks, my friends asked me to sell their clothes, and so on. Word-of-mouth is a very powerful marketing tool and it spread quickly. I immediately knew i was on something."

Up to 2006 it had 20 employees and went Linda's stuff in a 5,000 square meters of office space; today, the company is still thriving, almost a decade later, by an impressive 25 million dollars every year.

Business model: Linda said that prospective eBay sellers should be your research and understand the marketplace for the objects that you wish to sell,

Linda said that prospective eBay sellers should be your research and understand the market place for the objects that you wish to sell.

"We approximately 5,000 pieces per day with approximately 140,000 unique items listed on a website," the Brooklyn Law School alumna said.

"Linda's stuff is a real cult of the type for some people, please visit our web site and you will see the new things we daily lists and sell."

e-auction house eBay was born in September 1995 that the French Iranian-American entrepreneur Pierre Omidyar, has 157 million customers and 25 million sellers worldwide.

And as far as Linda, the money is there for the taking over who knows - or are willing to learn - what makes a good sell. A pair of shoes is sold on eBay every two seconds in the United States - and a mobile phone every four seconds, and Linda has shared their top tips for becoming a best seller.

1. Do your research

"even if you may be familiar with the product, it is important to inform yourself about the market," said Linda to daily mail online, recalling that you, you should ask yourself: "Is there a market for the item you are thinking of selling?"

"eBay is an incredible marketplace, because they are likely to find a buyer for almost everything you think to sell.'

The Lawyer-turning-eBay star devices, you should 'learn how to price through research, what similar products sell for".

2. Select a size user ID

"Clearly, I wish I had this advice," said Linda.

"For me, I chose Linda's stuff, because at the time it was just my own things. Then I had known I had more wisely."

It is all about the pictures! Quality is the key

3. Use high-quality images and detailed descriptions

"It's all about the image. Think of the potential buyers cannot see or touch the item, so that it or they rely on your image. Quality is the key", Linda. "You don't have to be a professional photographer - I certainly was not when I started. But you want to a razor-sharp image."

The business woman also advised users, the "many images".

"Get up close and personal with the element," she said. "As all of the details that a buyer would want to see."

And while the pictures are of the utmost importance, Linda says that the most successful eBay sellers are those who write detailed descriptions of their products.

'Describe, describe. The pictures are great, but you need a great description to highlight the element," she said. "The point is new or pre-loved? It has tags? What is the substance contents? What are the measurements? The more you are, the better."

The site is competitive, so that the seller must make sure that your products.

"Write a great title. Don't waste the 80 characters words like "wow", said Linda. 'Make sure the Designer Name, size, color, style, and other identifiers that buyer was looking for."

4. Customer Service is the key

Linda recommended that sellers should clearly state the conditions for the payment, Shipping & Returns and always be prepared to ask questions of potential buyers".

"Even if you have the information in your description, the buyers often want to know additional things," she said. "Remember, the customer is always right!"

5. The timely, reliable, "

as soon as the Buyer has paid for the item, be prepared to pack and ship to you quickly and in the manner agreed in your entry," she said, indicating that the seller should "Pack the element already'.

And while Linda found that buys such as free shipping, she said, if you charge, you should "reasonable".

6. A lot of fun

one of the reasons why Linda is so successful is that they really love what they do.

The contractor advises eBay users on "Expanding our horizons thinking" on the sale of its products, the use of social media platforms such as Facebook, Twitter, and Instagram.

"Also, remember that eBay makes selling incredibly easy on your smartphone, so sell", she added.

Linda advised that sellers should remember that the 'customer is always right'

Excellent starting point: Linda recommended that sellers should keep in mind that "The customer is always right"

Linda has become an expert in the field of use of the e Bay-Plattform and she remembers how quickly you got hooked.

"I was fascinated with every aspect of eBay the model - as the right pictures, write the perfect list and market each element to ensure that my friends and I get the most money for you," she said.

"I was, until you nearly every room in my house was filled with boxes and clothes from friends and friends of their friends. My home was 100 percent eBay."

soon enough, Linda thought it was time to take things to the next level.

I was fascinated with every aspect of eBay, the model

"if the company is growing on my ability, only list and pictures, I quickly abandoned a display to rent, my first employee from a local art school", she said.

"I also took the help of my husband - together, we made a leap of faith with Linda's stuff and never looked back."

Her husband of 26 years, Fred, a graduate of the Columbia Law School as the current eBay CEO Devin acceptable joined Linda's stuff in 2003, and is President of the society.

Her oldest son, Max, 25, recently his mother company as Vice President of Business Development for working on an investment banking house in New York for two years.

"It is a great honor to work with him and we now have a true family company," said Linda. Meanwhile your other son, Jonathan, 22, only study is completed and to a private equity firm in New York.
Family affair: Linda's company has grown rapidly over the 15 years, and her husband Fred (right) joined the company in 2003, as President of Linda's stuff

and Linda's company has grown faster than you can ever imagine.

"I didn't know how great my company went to, so we moved to offices four times in less than seven years," she said. "We had a first 5,000 -square-foot location, then 12,000, then 25,000 to 93,000 square feet of our new home."

"We have really grown in leaps and bounds - I had my instinct more."

instead of "e Bay-Auktion original format, Linda's Store sells items immediately at a fixed price. The "Buy It Now" -function, the first time in November 2000, the preferred option for a large majority of the seller: 70 percent of items sold on eBay are sold in this way - and 80 percent are new.

"I didn't know how great my company went to

"eBay has always been to connect buyers and sellers around the world - but the nature of the products and the format has as eBay has grown over the years," said eBay's former CEO John Donahoe, CEO, the links in the July 2015.

"I remember constantly surprised at how powerful it was for the connection of the buyer and the seller around the globe." Linda

praised the e Bay-Plattform for your to reach an audience of 155 million customers around the world. This was one of the web site of the characteristics in the past 20 years after John.

Linda, the right to the school, because they thought this was it, what "traditional success" looked like, says that she has learned, it is important to do what makes you happy.

"People say that if you do what you love and love what you do you never work a day in your life - I never thought, until I started Linda's stuff."

It is one of 25 million eBay sellers around the globe. Twenty years after its inception, the site has 800 million records on a specific point in time. It was more than $660 billion in sales in the 21. Century

sourc: dailymail.co.uk

Smart ways that to making income in 2015

So you’re able to begin earning a lot of this year? whether you would like to be a lot of aggressive concerning paying off student loans, dig yourself out of MasterCard debt, or save toward a deposit or vacation, creating more money on the facet could be a sensible strategy for operating toward your goals.

While you'll merely get a part-time job, I’m getting to specialist in entrepreneurial ventures — facet jobs wherever you management some time and rates. Rather than operating the shifts your given for a group wage, you’ll be your own boss, deciding what you are doing, once you have a go at it and the way a lot of you create.

Whether you’re thinking of beginning a facet business that might eventually become your regular job otherwise you simply wish to earn somewhat further money on the weekends, I’ve got you coated. however, can you earn more cash this year?

Freelance together with your Skills

Use the abilities you’ve already developed — perhaps even those you employ at a regular job — to earn further money on the facet. Whereas you’ll wish to create positive you’re not competitive together with your leader (you can’t poach your company’s clients; scan your contract to create positive you haven’t signed a non-compete agreement), you'll earn a big quantity of cash by operating directly with shoppers.
You can begin a contract business with a large form of skills. I’ve printed quite a few below, however there square measure undoubtedly a lot of options!

1. Write

If you’re nice at crafting participating diary posts or convincing copy, it’s time to place your writing skills to figure. Writers trying to make up expertise might want to begin with content sites (though be warned, the pay will be very low) or by beginning a diary of their own.
Got some clips beneath your belt? Fantastic — it’s time to begin pitching paying writing retailers.

Research your target sites well before pitching their editors, and — I can’t emphasize this enough — scan the rules. If the positioning desires you to pitch concepts, email the editor with some concepts. If the rules evoke a draft, write a draft. If they require you to incorporate a secret phrase in your email’s subject line, embody the phrase. (I’m not creating this up — several sites use this trick to sort writers WHO don’t scan the rules. No secret phrase suggests that your email goes straight to the trash.)


How much are you able to make? 3 cents a word for content sites, $50 and up for guest posts on paying sites. Some blogs would possibly even provide a bonus if your post performs notably well.

2. Do Graphic or internet style Work

Do you forever grasp that colors complement each other best? Are you able to place along an incredible book cowl or website homepage in twenty minutes flat? Is making a fine looking diary header one thing you'll neutralize your sleep?
Not solely square measure you my hero, however you'll be creating serious money from your skills.

Make sure your website or diary clearly states that you’re accessible for rent, and share samples of recent comes. If you can’t link to come you probably did for your leader, represent some styles on your own time. Raise friends for referrals, and contemplate giving your services on a marketplace like E lance. For a lot of concepts, scrutinize Washable’s post on showcasing your freelance graphic style work.

How much are you able to make? Designers with some years of expertise and solid portfolios will earn $100 per hour, however designer Jessica Hische recommends avoiding hourly rating in a very elaborate project rating analysis in quick Company.

3. Develop Websites or Applications

Can you build a WordPress plugin together with your clean hands? Does one pay longer on Github than Facebook? If twiddling with code is your issue, you'll undoubtedly flip your skills into further financial gain.

The antique business recommendation applies here: realize a tangle and solve it. See a plugin that works, however not perfectly? Build your own improved version. Notice a continual issue with a WordPress theme? Tweak it to search out a fix. Wish to be on-call school support? Realize a distinct segment that desires tech-savvy facilitate, and fill it.

Web developer mountain Meredith could be a nice example. “In the method of shoe making along a website for my church, I learned enough to urge a degree in ‘how to not do websites.’ To avoid wasting individuals from having to travel through what I went through, I started writing down what I used to be learning.” The result's Church internet facilitate, a website “for churches WHO can’t afford to pay a regular (or even part-time) webmaster,” that offers resources, coaching and custom WordPress sites.

How much are you able to make? High-quality freelance developers will charge anyplace from $75 to $150 per hour, says Meredith. You'll simply double your rates for “crisis situations” or quick turnarounds, like once a website has been hacked. Additionally, a lot of specialized and server-side you're, the upper your potential rates.

4. Take pictures

Shutterbugs, this one’s for you. If you have got an honest camera (no, your iPhone doesn’t count), a basic understanding of photographic principles and skill with photo-editing programs, you'll earn cash taking photos.

Whether you’re keen to begin a facet business as a portrait lens man, would love to capture recollections as a marriage lens man, or just wish to sell your photos through a stock photography website, earning cash as a lens man could be an in style facet hustle.

If you’re following the portrait business, realize shoppers through viva-voce and by posting a web portfolio on your own website or on Flicker. Breaking into the marriage business will be difficult, however begin with viva-voce for that in addition. Raise friends WHO have gotten married whether their lens man might use a second shooter, or provide to pay some hours taking engagement photos they will use on their wedding websites.

For stock photography, inspect the submission tips on micro stock websites like istockphoto.com or shutterstock.com and scrutinize the recommendation for beginners on Everything Microstock.
How much are you able to make? As a family portrait lens man, Susan Shain charged $100 per session, that concerned concerning 3 hours of labor, tho' she noted this was for friends and family. “I haven’t pursued this as a significant facet business, however if I did, I’d most likely charge lots a lot of.”

Wedding photographers charge a large vary of costs looking on location, experience, vogue and demand. A full-day wedding shoot in Whistler, North American nation might value between $1,500 and $6,500, and lens man JP Dank estimates that high-end wedding photographers will charge $9,000 or a lot of per wedding.
Stock iconography websites usually pay between fifteen and fifty cents per photo sold, tho' some photos will sell for up to $60, consistent with Pop icon.

5. Provide handwriting

Do you have stunning handwriting? Have you ever down the art of the superbly crisp pen stroke? Flip your handwriting skills into cold money by giving freelance handwriting services. Whereas written envelopes, place cards and signs square measure commonest for weddings, you'll even be able to beat up business from baby showers, birth announcements and milestone birthday parties.

Expert calligraphers advocate active perpetually, investment in quality tools associated taking an introductory course. Realize shoppers by promoting samples of your work on Twitter, Facebook and Instagram, and connecting with different calligraphers for potential referrals.

How much are you able to make? Hand-lettered envelopes run $2 to $5 every on Etsy, and signs opt for $50 or a lot of. relying what quantity time you’re keen to devote, particularly within the run-up to the busy wedding season, you'll earn a good quantity of money. Inspect what different sellers square measure charging to work out a way to set your own rates.

6. Paint Murals

Skilled with a paintbrush? Earn further money whereas creating your neighborhood somewhat a lot of stunning. whether it’s showcasing associate picture read on an outstanding downtown building or decorating a child’s bedchamber, mural painting is associate often-overlooked artistic facet gig.


Start by asking friends and family if any areas might use an inventive makeover; maybe a noticeable room might use a cool update before a baby arrives, or a baby-themed area desires redecorating as its owner enters grammar school.


To find different shoppers, raise glad customers for referrals and list your services on sites like FindaMuralist.com.
How much are you able to make? One painter charges $60 per hour, whereas others charge $10 to $20 per area unit or maybe $200 per area unit.

7. Officiate Weddings

Look outside the “hard” skills like your ability to put in writing code or take wonderful photos — are you able to visit anyone? Square measure you a good speaker? Does one love celebrating love? Contemplate a weekend facet gig as a marriage man of the cloth.


Your business set-up can vary supported your state, and therefore the legal necessities vary, however officiating weddings may well be a fun facet hustle. Once you’ve performed some weddings for friends or relations, raise them to say your accessibility to different couples they grasp.


How much are you able to make? Yvonne Doerre, WHO has officiated concerning twenty weddings within the DC space, sometimes charges between $300 and $500 per wedding.

8. Babysit or Nanny

Yes, this counts as freelancing — knowing a way to wrangle youngsters is actually a skill! Folks, the oldest siblings and former camp counselors: this one’s for you.


Whether you would like to seem when school-aged children on Sabbaths nights or facilitate tired folks as an evening nanny, you’ll realize ample opportunities to use your child care expertise to earn money. Look among your circle of friends and acquaintances initial, as folks square measure a lot of doubtless to trust somebody they grasp. Raise friends if they grasp anyone else WHO might use some hours to themselves, whether it’s to grocery look while not toddlers or just to go to the gymnasium.


How much are you able to make? Average rates for babysitters begin at $12 associate hour, consistent with The Hub of the Universe Globe, however vary looking on the market — you'll earn a lot of for observance a lot of children, operating late nights or just living in a very larger town. Night nannies will earn between $15 associated $25 an hour, looking on location and skill.
These square measure simply eight of the numerous ways that you'll flip your skills into moneymaking freelance businesses. And we’ve solely scraped the surface of the way to earn cash on the side…


Make and Sell Art and Crafts
Plenty of individuals earn more money from one thing that started as a slick hobby. whether you're keen on knitting, felting, soap-making, woodwork or metal-smithing, there’s doubtless a marketplace for your creations.


Sell your crafts on-line, through your own website or on Etsy, to succeed in customers round the world. Look nearer to home by pitching your merchandise to native stores and rental a table at epizoon markets, and target a distinct segment market by sign language up for a dealer’s table at conventions.
What are you able to sell? Here square measure some concepts.

9. Carve Walking Sticks

Using wood you’ve harvested from your own property, a friend’s or public land, produce one-of-a-kind walking sticks. Adding special touches like stones, mirrors or animal skin straps can assist you charge a lot of.


How much are you able to make? It depends wherever you sell and the way fancy your walking sticks square measure. Easy sticks might sell for $8 at epizoon markets, however admirer choices might herald $60 every at craft shows or maybe a lot of on-line, consistent with Steve Gill man.

10. Create jewelry

Earrings, necklaces, bracelets, rings, crazy contraptions that wrap around your face — jewelry designers create every kind of fantastic merchandise. whether you're employed with metal, felt, recent Scrabble tiles, art cranes or maybe ruminant antlers, you’ll doubtless realize a marketplace for your work.


How much are you able to make? It depends on what you sell, however bear in mind to not worth your items too low. Ensure to hide the prices of materials, time, shipping, listing fees and different prices. Keep an eye fixed on craft forums for recommendation from full-fledged designers and sellers on what sells well.

Are you have other ideas to make money? Write it in comment

Steps to make Money Blogs : 9 Action

Creating wealth with some sort of blog is an issue that all bloggers desire to one morning accomplish. The sad fact is that together with over 300 million blogs nowadays, more than 98% of them don’t make some cash at just about all.

This main thought behind that statistic is that a lot of bloggers just aren’t trained with the necessary mindset to turn a blog right into a business. Such elements include knowing how to generate content which puts a audience directly into action mode, having the trust and loyalty of this audience and knowing how to monetize your web site traffic.

On the other hand, all seriously isn't lost. Just like any ability or profession, becoming some sort of profitable doodle kit is something which can be taught — specially with thus many beneficial resources online.

One like resource may be the infographic under, provided by simply blogging. org, which reduces the means of creating a very good and worthwhile blog ahead of even how to get started.

How for making Money Blogging and site-building – Through Zero to Profit

Producing a prosperous blog is in excess of just deciding on a domain name, throwing upwards content and hoping for top. It’s actually considerably more, and there exists a lot connected with pre-planning that adopts your blog site before that even is going live.

We’ve broken down the way every blogger has to take to a single day hopefully have a successful and high site visitors blog that creates them funds.

Researching an interest

Before even heading live with all your blog, you have to know what you'll be blogging about and why. Will you have enough to create about? Is it something people are trying to find? How does it make an individual money straight down the highway?

Niching Straight down

The minute you’ve discovered the market / topic to your blog, it’s now time to niche straight down again. You should keep an incredibly narrow focus to help you be the authority in that market.

Creating a Editorial Work schedule

Once you choose your market, take some time to create an content calendar to breakdown the various kinds of articles you may be creating pertaining to your web site. It’s far better to layout your content calendar at this point, versus discovering out 2-3 months later on in life when you could run outside of things to create about of your niche.

Selecting a Domain Name & Web host

Picking a good domain name will always be more intricate than that sounds. Nearly all generic terms and names are already taken, so you'll need to get a little creative. Follow. com,. world wide web and. org TLDs and in addition don’t use dashes or numbers inside your domain.

When considering time to settle on a web host, don’t spend a lot of time on that. Spend a few momemts to compare the top web contains out presently there, but don’t try and save a number of pennies and go along with an unidentified company.

Install WordPress to Power Your site

WordPress is the information management alternative that means that you can create and manage the information on your web site. Most internet hosting companies will have a one-click setting up process pertaining to WordPress — so that you don’t should worry a lot of about environment this upwards. Once that you are setup and when using the software, it’s very easy and self explanatory.

Creating High quality Content to your Site

This particular is where lots of site owners get it wrong. They just create information and hope for top. Instead you have to create good quality content which actually delivers value. A good general guideline is to contemplate if you’d actually find any kind of value outside of reading the information if an individual found that on one more site.

Get Active for the Major Internet sites

There are over 2 billion dollars users spread across the many major societal networks. Not only would you like to have a private account on all of these websites, but you should create one to your blog at the same time. By obtaining your blog site setup challenging social systems, you may start growing your fan base, subscribers and branding all concurrently.

Setting In place a Subsciber lists

There isn't better way to grow your own audience and readership after some time, than to generate a mailing number. The depressing thing is usually that over 70% in the people who visit your web site for the primary time… properly, they are never coming rear. The only way to grab their own attention and keep them coming back for far more, is by simply getting these to join your subscriber list.

Product & Services Creation

There are various ways for making money that has a blog, including selling your own ad place or utilizing Google Adsense — on the other hand, the biggest players in this particular space are generally making some money through their unique products and services they provide. Whether it’s a ebook, online course or maybe a private assistance, when you might have your very own brand and products, an individual will always make more money.

How for making Money Blogging and site-building [Infographic]

Right now it’s time to put every thing we only discussed directly into action! Have a look at the infographic under and walk through these kind of steps to eventually transforming into a profitable blogger!

source:  How to Make Money Blogging - 9 Step [Infographic]

Five-year forecasts every small business should consider

 
Small businesses that are working to build sufficient income for expansion and growth have a new set of challenges they face with each passing entire quarter. Changes in the global market have permanent impacts on small businesses and the only way an entrepreneur or small business owner can make more of these challenges is through the use of a futuristic approach to marketing and business development. Here are the major predictions for the expected market return over the next five years. Focus on the dominant trends in these examples to ensure prosperity and future growth. 

Online Hiring: The New HRM

While electronic commerce seemed like the last intelligent use of the Internet to make money online recruitment has emerged to cancel that statement. Yes, companies are hiring through online portals like Elance, to seize local talent and overseas talent that can perform faster and better than local talent can do work. Online recruitment seems to be the new trend in the field of human resources management, with about fifty four percent of recruitment companies in Elance indicated that local talent search online in the next five years. Over the past year, it has been noticed that online profits has been higher in the US, and business owners are able to benefit from this, as I find a great diversity of talent working through independent portals and ready to be employed, either full time or contract positions.

Forex Trading: Easier Like Never Before

Often regarded as the weakest of secondary investments, forex trading is a risky investment arena that most businessmen try to avoid unless a very good opportunity opens. Come 2015, suddenly there is a great opportunity to open in this field as half the world witnessed unexpected movements in the currency market. It is a good time to watch the market and make their moves accordingly, and trust me, there are plenty of opportunities for small businesses in this season. The road is easy. Download any forex trading application available for your mobile and check the growth and collapse of the currency. This will help you operate actively and also keep a watch whenever you have to plan exports or imports from other countries. For example, according to NetoTrade, rising USD / JPY seems to have a future promise as small businesses can expect to invest in the Japanese market and see the profits go through the Yen easily. 

Retail and Real Estate: Evergreen As always

The efficiency of work in the retail and real estate are here to stay. Its growth is unimpeded since all countries are experiencing a change in ownership and prices after recent changes products in the global economy. It's slow, no doubt, but these industries will grow in the same direction and survive changes in the same way as they did during the recession.IT industry: newer avenuesWith mobile technology changing the face of online marketing, it is not surprising that many companies are closing their web sites or web pages. Yes, new avenues are opening in the IT industry and are close to opening a whole new industry around mobile technology and cloud. With ethical hacking practices known to many now, it's easier to safeguard your business and online portals like never before.

Best Ecommerce: Get Cheesy If not least

Since the payment of money online took over-the-counter payments, customers have not waited and looked at the slow days cash counter lines. And for companies like yours, which gave a huge great opportunity to take advantage of electronic commerce methods. The next five years are likely the best for electronic commerce as a new and better methods come into existence. Use Cryptocurrency, online coupon codes, offers of free samples, unique gifts guests, content and social interactions to maintain its base of customers elated. This will come back to you for more.In conclusion, we could simply tell the different opportunities opening line and get into action immediately, because if you do not start now, then it will never happen. Yes, it's time to innovate. Get ready for all the challenges that come in the next five years with these important tips. You are sure to rock!

The Money Shop to shed 200 stores and 350 jobs

Money Shop has struggled since the payday loans (Getty) were capped

Money Shop could be forced to close about 200 stores in the UK due to its business model wins after bedding down the new regulations to protect consumers of escalating debt payday payment.

The payday lender is currently in a consultation process, according to the BBC. The result of this could see 200 of its 500 stores are closing. Already closed 40 stores.

This could mean about 350 of its 3,000 employees lost their jobs, although Money Shop told the BBC that will try to keep redundancies to a minimum by finding new roles for employees facing redundancy.

He added that the reorganization of the company could see one of the three main offices are closed.

The American company that owns The Money Shop Dollar Financial, said in a statement: "Unfortunately, it is possible that some 350 layoffs may be necessary as the company evolves its business to serve customers in a fair and sustainable manner after introduction of new regulations on consumer credit and the elimination of duplication of facilities inherited through previous acquisitions.

"We fully recognize the impact these proposals may have on our people, both personally and professionally, and we will support employees affected by this process and future employment."

Financial problems The Money Shop come after the Financial Conduct Authority (FCA) capped interest rates of payday loans at 0.8% per day of the amount borrowed. In case of default by customers, the payday lender can only charge a fixed fee of £ 15, while the total cost limit of 100% is meant to protect borrowers from mounting debts.

Why, how, where and when entrepreneurs to make money

The ultimate purpose of a business venture is to successfully establish a new business and generate windfall profits thereof.

 Social entrepreneurship is not necessarily profit target, so this article will remain focused on the profit generated by a business project.

You've done all the hard work and planning, funding secured and established his business. But what about the benefits? Where, when and how you can expect your rewards high performance realized, and why should your business venture succeed where others have failed?

Why should Employers Make Windfall Profits

Imagine two hypothetical workers.

Peter goes to the office every day, working a 40-hour workweek and is paid a standard salary. He is good at his job, but his contributions to remain confined to his work.

Paul has a passion to change and improve the world by introducing new products and services. Many works over 40 hours a week, investing their time, capital and energy to try something new you expect the world to be much better than it is today.

Clearly, the world would be a less dynamic place, if I had not Peters and Pauls around. Paul takes more risks and put more effort than Pedro. It seems logical that Paul will have a greater impact on the overall well-being through their contributions. If the reward for Paul is more or less similar to that of Peter, however, Paul will not be happy to put in extra effort to improve the welfare of the world.

Who do you think should get more credit for their contributions?

According to neoclassical economic theory, the lack of appropriate rewards discourages entrepreneurs to take risks and make an extra effort, without which the world stagnates. Government authorities offer special rewards just entrepreneurs through patents, copyrights and royalties. Employers are not going to do their job without extraordinary benefits on your invested time, effort, energy, money and risk taking.

How do entrepreneurs make Windfall Profits?

Entrepreneurs introduced new and innovative products or services that may result in significant improvements in productivity, cost reduction and improved quality of life.

Know your deals much better than anybody and being aware of customer needs, the employer may charge a heavy premium for their path breaking innovations. This high premium translates into big profits, justifying the great risks taken by entrepreneurs during development.

If competitors are not able to build and introduce similar products or services in short span of time, the product becomes a monopoly for the employer, and he or she can expect perks of being the only one manufacturer or service provider.

Even if competitors find it easy to replicate and introduce similar products quickly, the employer can seek safety and protection for innovation through patents, copyrights or royalties. These channels offer protection to the original inventor and act as an important safeguard for successful business projects.

But how long can this monopoly? Not indefinitely, otherwise it will lead to economic and social stagnation. Without government intervention in the form of patents, profitability continues until competitors begin to offer similar products and services. Without patents the market becomes more open and competitive, where new innovations and new variants or modified enhanced offerings appear. Entrepreneurs tend to keep a close eye on these developments and are wise enough to improve their products and keep their edge in the market.

In the case of patent protection is available for a certain amount of time that can span a few months to a few years. (In the United States, patents usually last 20 years.) Depending on local laws may still apply the rights that the patent has expired, but the previously patented article loses performance as no longer remains a "one-man show. "

This encourages healthy competition again: either entrepreneurs start working on something new or succumb to market Darwinism.

Where and when do you make money Entrepreneurs?

When it comes to money matters, time is very important. Here is an illustrative graph showing all possible cash flows and their timing during the different phases of a business project:

Term Term 1 to 4 (Period Pain) - This is the period of initial investment, which will be carried out different activities including, but not limited to product idea development, feasibility study and market, prototyping, and customer identification. The order may be different depending on the company, but the concepts remain the same. It is assumed that funding angel investors is available in Term 4.

Term 5 to Time 6 (The Introduction Period) - The activities covered here you can apply for and secure patents, building sales channels and distribution model for the introduction of the final product to market.

Within 7-9 Deadline (The Benefit Period) - These terms are taking the benefit periods of "monopoly" - or protected by patents or no competition scenarios.

Time 9 is supposed to be the period of maximum gain, just before competitors reach the market. It is during this period that the development is initiated by the introduction of new variants of products for the market, and therefore an investment in the same need. However, reinvestment, research and development can come earlier depending on the product life cycle and other factors. This may also be the time to introduce this offer to new markets.

Period 10 - Term 11 (Sunset Period) - A lot of options are available here. Any out of this adventure completely by sunsetting the supply, sale or stakeholder variants continue developing new parts. The benefits will vary depending on all external factors, competitors and market scenarios.

The Bottom Line

This is an example of a general business cycle. The duration and activities mentioned vary depending on the nature of the product and markets. For example, a pharmaceutical product may have a longer period due to the monopoly of the patent, while a mobile technology can be duplicated in very short time.

All business projects aimed profitability. Due to the high risk, it is expected that high reward scenarios business projects of entrepreneurs to make extraordinary profits, provided that plan their activities carefully with due diligence.