Commercial Real Estate – Sales Success on Step at a Time

In commercial real estate agency, we tend to look at the end result of the sale or the lease with perhaps too much focus. There is a lot of work to be done as real estate agents before we get to the end result. The more effective we are with the stages leading through the sale, the easier the end result is to achieve.

To create more opportunity for yourself as a real estate agent, it is best to consider and refine at your actions one step at a time. Thinking and planning each step is a good way to go.

The real estate business is really quite simple. It does however require total dedication to the separate stages of the process in order to become the market leader. Consider these stages:

  1. A prospecting model that you use every day to generate new business opportunity with qualified prospects.
  2. Meeting lots of local people who could potentially have an interest in commercial real estate in selling, renting, occupying or owning.
  3. A presentation process that hits the mark every time with the people that you have qualified in and around the local area. Include facts about the local market and its prices, results, competition, time on market, and property solutions available.
  4. A listing model that identifies the right target market that the marketing campaign can be built around with great effect. If you do not know your target market you cannot sell or lease the property in a timely way.
  5. A marketing model that is reliable and direct to attract enquiry for the property quickly and effectively. Every property is unique so the marketing should also be specially designed for the property.
  6. An inspection process that is designed to the property and picks up the key features of the property for the buyers or tenants as the case may be. To do this you have to know the property well.
  7. A negotiation system that gets qualified prospects onto paper so you have something to negotiate with. Verbal offers are difficult to negotiate because you really have nothing to work with. Get the offer on paper before you do anything with it.
  8. Enforceable legal documentation for the deal should be accurately and quickly drawn up for the parties concerned. Slow documentation creation or completion will kill a deal faster than anything else.
  9. When the deal is signed up, it is never really finished; on that basis is pays to stay with the deal to the very end. Hurdles and obstacles will develop as you move through the time between documentation and settlement.

When you work in commercial real estate it is the levels and stages above that will bring the results for the salesperson. Refine and specialize your actions and processes in each of the stages. On that basis you will get more of the right results coming through.

How To Be A Successful Entrepreneur Nurse

Nowadays, as nursing profession has become innovative and flexible, nurses have been able to get new ideas, learn, and expand beyond their traditional roles. Since nurses have inherent talents, knowledge and abilities through the rigors of their nursing education, they have started to think outside the box and freed themselves from external restrictions. Their persevering spirit to accomplish greater things has motivated them to advance their degrees, start and grow their own business, join healthcare projects, and hold executive roles in the field of health care. Their ability to lead and innovate enables them to venture a new nursing experience, the nursing entrepreneurship.

Just like in other business, being a nurse entrepreneur can be achieved in a step-by-step basis. You cannot simply be a successful entrepreneur overnight. You have to have sufficient training experience and perseverance in order to grow and thrive as a nurse entrepreneur. Here are some tips on how to become a successful entrepreneur:

1. Practical Approach to your Business

If you’re planning to start a business as a nurse, you have to think twice or thrice before venturing to this field. Entering a business of course entails investment and money so you have to be very sure and dedicated before establishing a business. Also, if you have started one, you have to innovate in whatever you do and discover the latest ideas in the field of nursing. You have to be a good leader to gain the respect of the people working for you as well as the trust of your clients. You have to develop your skills and knowledge, and you have to prove that you really take good care of your clients.

2. Starting up your Business

Do not start a business or any undertaking without preparation and planning. You have to think of all the things that could be relevant to your business, like the initial investment, the time you will need to establish your business, the target population of your business, the timetable you will pursue to regain your investment, and the necessary expenses such as purchasing of business equipments and advertising expenses to promote your business.

3. Be Optimistic

Always look at the positive side of things and do not lose hope when it seems that your business does not profit. Also, when you are planning, always have a persevering spirit that would prompt you to innovate and lead in your nursing field or even in other fields. Believe in yourself and always think that you have unique talents and capabilities to accomplish greater things.

4. Fall back alternatives

Just in case your business does not succeed, do not lose hope. Thinking of other alternatives for your business does not meaning being negative, but would mean being practical. Face the reality that not all businesses succeed and take it as a chance to innovate, redefine your business, and further expand your roles. Besides, you have many other options as a nurse. You can be a teacher, a public speaker in conferences, a researcher, and a consultant under medical field, among others.

Of course, being a successful nurse entrepreneur could give you much advantages and benefits. Here are some:

1. Many Opportunities

Since being a nurse is the most in demand profession in many countries nowadays, being a nurse entrepreneurship can be a plus especially when you are working in hospitals and other health sectors. Since you have proven innovative skills and knowledge in entrepreneurship, nurse entrepreneurs are much more very welcomed in their medical field.

2. Flexible Roles

Having started a business as nurse, you have proven to be a leader to the people working for you. You also have all the authority to delegate people and adjust working time and schedule. As a result, your role as an entrepreneur becomes really flexible. Because of that, you still have more time to work other than your business like being a nurse in nursing homes for adults, maternity homes, and other medical facilities.

However, when starting a business, you still have to take into account things other than the advantages of entrepreneurship. You should take heed of certain disadvantages and possible problems that may occur when establishing a business.

1. Nursing Business Needs Experience

You have to remember that managing and handling a business needs enough experience. Do not venture into any kind of business if you are not 100% sure of what you’re going to do. If you know someone who has already run a business that matches yours, you can team up with him or her to ensure a more firm and stable business.

2. Funds

Of course, you cannot start a business without money and capital. Make sure you have enough funds to offset any shortage that may occur and to pay future expenses you will need to improve your business

Travel Nursing: A Unique Career Path for Nurses

Aside from being an entrepreneur nurse, another possible option for nurses is travel nursing. As the name implies, travel nurses are nurses who travel a lot and go to new and different locations to provide their service to their clients. Since this job is highly compensated and could give some a unique life experience to travel in many places with all the travel, housing, as well as health and malpractice insurance and costs paid, travel nursing has become an alluring career path for many nurses.

If you’re thinking of shifting into this career path as a nurse, here are some things you need to consider first:

• The hours, responsibilities, required skills and salary- If you do not want to regret in the end, you have to know these things before signing any contract.

• Network roles – Contact other travel nurses you know and ask them about their experiences in their work. You can also inquire to the most credible travel nurse agencies in you location about the nature of travel nursing.

• Your dedication to get the job – Traveling could be enticing since you will be able to see new places; however, also consider your comfort and convenience with short assignments and frequent change of residence.

• Weighing options – If you’re still unsure about travel nursing, you can consult a healthcare staffing agency to enlighten you about the pros and cons of this nursing career. Tell them your options, your motivation, your hesitations, as well as the benefits and disadvantages you consider about travel nursing. Doing so may help you make a decision about this new venture.

Car Rental Rates – How to Get the Best Car Rental Rates

Car rental rates are obviously dependent on which dealership you opt for and how long you need the vehicle for. To get the best car rental rates you must be certain of the period in which you are going to require the vehicle for. For example, you would not want to rent a car for 3 days, to find out you need it for an additional 3 days this is where dealerships will charge for days the vehicle is required for, at their daily rate; savings are to be made when you book for a week if there is any chance of requiring the vehicle for longer. Agencies operate on weekly and daily rates; it always pays to look into the weekly rate as this is usually lower than a per day rate.

If you want to find the best car rental rates you must shop around. Car rental rates are constantly changing due to supply and demand and obviously change in line with the season. You will need to book far in advance should you want a rental car over any holiday period. Make sure you enquire about special holiday rates as some rental agents will give away a day extra for free over these periods. Make sure you are certain of you required dates over these periods as agencies cancellations over these periods will incur large fees.

To find the best car rental rates when it comes to long distance trips, it pays to book well in advance and ask your travel agent of any deals that are not publicly advertised. If you are planning a road trip to Las Vegas for tonight, you’ll have wanted to have booked at least a week ago to get the best rates and avoid disappointment. Remember that reservation only guarantees a reserved rate, you must specify if you are after a specific vehicle.

If you think the weekend car rental rates you are getting are too good to be true, then they probably are. You will want to ask for any hidden costs, such as insurance, state taxes, varying fees for drivers of different ages and refueling charges. Ask your rental agent of any compulsory insurance fees, as these hidden costs are generally what makes the advertised costs so well, read the disclaimer! Some states in America give rental car agents permission to charge extra fees on their rentals to cover the costs of licensing their cars. This is fee is generally 6% of the total rental costs. The majority of states in America do not require rental agents to inform the customer of this fee, so make sure you ask before hiring.

To get the cheapest, most value for money rental car rates you will need to shop around, be sure of the duration you require the vehicle for, make sure you ask about any hidden fees and always book well in advance.

Online Shopping for Clothing: 5 Great Advantages

Nowadays online shopping for clothes has become more like a daily activity for the modern women. Despite its few flaws, buying clothing from an e-retailer is very popular. GSI Commerce survey on online shopping shows that half of the consumers prefer shopping for fashion clothing and accessories online to purchasing them offline. Online shopping for clothes has earned its place deservedly and we have to admit it.

Buy clothes online 24/7

One of the most important advantages of the online shopping for clothing is that you can buy your clothes regardless of what time it is. If you usually are engaged with work at the office till late, deal with your kids during day, having classes at the university and it seems that you don’t have enough time for shopping, buying your apparel online is the perfect solution. You can look for an e-store and buy fashion clothes at 22:00 p.m.

Diversity

Another benefit of the online shopping for clothing is the great opportunity to browse an international market at the simple click of a button. You can find so many online shops offering different styles – casual, formal clothing, you name it. You are into the vintage style, but you don’t have a shop with vintage fashion near you, well you can find an e-shop offering great vintage clothing pieces.

Convenience

Online shopping for clothes gives you the freedom to shop not only at the early hours in the morning or at the late hours of the night, but you can buy clothes online regardless of where you are – at the cafe with friends, during your vacation, or at the office during your break. As we live in the era of smart phones and Google, we access to internet almost everywhere shopping for clothing online is such an entertainment.

During holiday and season sales shopping centers get so crowded. It is quite a ‘mission impossible’ to reach the cute shirt at the end of the store. No more waiting on queues to pay for what you have managed to get. Buying clothing online is easy and saves a lot of time though. Even, you can make a gift and surprise your friend who is far from your location. Just purchase an item he or she likes and give his/her address for delivery.

Price comparison & Reviews

Buying your apparel online gives you the great advantage to compare the price of the particular item different retailers offer for it. Moreover, there are so many third-party independent websites for rating and reviewing products. It is a good idea to check what people say about the product you are about to purchase.

Sales

Last, but not least, great benefit of the online shopping for clothing is the great bargain opportunities. Online stores for clothing make great sales and discounts, especially during holidays. Perfect way to save money on buying clothes online is to take advantage of the coupons many e-stores offer. Shopping for clothes online and saving a few bucks – you can’t miss such an opportunity.

Next time you are about to shop for clothes and fashion accessories, why don’t to try online shopping for clothing. You can find a great deal.

Home Based Business Trends In A Fragile Economy

Home based businesses are many with some that are truly legitimate and others that are out to put a deep hole in your wallet. With today’s fragile economy, millions of people out of work and a shrinking middle class, there are those of us seeking ways to increase our financial means to make ends meet or to simply keep food on the table for our families. I’ve been a victim of the scams and have invested hundreds (if not thousands) of dollars seeking out the latest home business trend. But I have also learned a lot along the way and have acquired some tools to success that I would like to share with you to avoid any pitfalls you may experience in your search for the right opportunity.

#1. Product. You need to choose a product that literally most everyone needs. Think long and hard about this. Not everyone needs or likes healthy chocolate (I personally know someone who is allergic to it). The market is also flooded with many nutrition supplements claiming to be the next big trend. There is liquid form, pill form, shake form, juice form, etc. So which do you choose? Not to mention the expense and investment in such a venture. Don’t get me wrong. There are many fine health and wellness opportunities out there but they require a large financial commitment and again isn’t necessarily something most everyone wants or needs (we are in fact one of the most obese nations in the global market). Consider something such as cell phones. Nearly everyone has them everywhere you look and nearly everyone needs them. Even my 10 year old son is begging me to get him one since many of his friends already have them. The cell phone industry is exploding and more and more companies are popping up on the market.

#2. Affordability. As I mentioned earlier there are many legitimate home based business opportunities but they require a large financial commitment on your part and with a fragile economy this just isn’t an option. So along with the right product you need to have the right price. Opportunities that are too inexpensive (such as an opportunity for only $97) require hundreds of people in your downline just to make a few hundred dollars. Home based business opportunities that are too expensive are simply that-cost prohibitive and you don’t stand a chance at seeing a return (such as those opportunities that cost $1995-$3995). I’ve found that the latest legitimate home based business trends are priced between $300-$500. These are reasonably affordable even in a fragile economy and can get you up and running in no time. It will have you seeing a return on this investment within a few weeks to a few months.

#3. Team. I can’t stress enough how important it is to have a strong support system in place. Too often we are left to fend for ourselves after signing on with an opportunity and spend months trying to figure everything out ultimately ending in failure. A duplicatable, automated selling process, turn-key system that can run on auto pilot is vital to being successful with a home based business opportunity. These duplicatable systems can be achieved through websites and lead capture pages (which are generated by the company and given to each of their reps to build their business), DVDs explaining the opportunity and most importantly a way to market your business through offline methods (such as postcards and sales letters) in addition to online methods such as pay per clicks or cost per clicks. There are other online methods such as blogs, social media, articles and more but these systems are not easily duplicatable by everyone and requires a great deal of research, practice and trial and error to be successful with these methods. With the flood of online advertising, offline old-school mailbox methods such as postcards promoting an opportunity are becoming the trend among home based businesses.

#4. Leverage. The fourth and final point is leveraging a powerful system with the right opportunity that allows you to:

1. Make a lot of money

2. Make a lot of money quickly (and I don’t mean within 48 hours-let’s be reasonable here). You could with the right system be making money within a few weeks to a few months.

3. Be able to work from home only a few hours a week on a schedule that YOU decide

4. Have a business working for you even when you are not-translates to a 100% automated sales process from the moment your prospect sees your offer. This means:

-No personal selling
-No phone calls
-No hotel meetings
-No emails
-No sharing with friends and family

There is a lot to consider when seeking out the next home business trend. What I can tell you is from my experience, by using the tips I have mentioned as tools for researching and crafting a home business opportunity that’s right for you, it will greatly increase your chances for success.

Make Unforgettable Memories at Gold Coast With Cheap Car Rentals

The pride of Australia and undoubtedly, Queensland’s most popular holiday destination, Gold Coast can be your pick this summer vacation because this is where you can relish a peaceful time with the hustle bustle of urban living at the same time. You can choose from its vast options available for accommodation, which include scenic resorts, motels, and hotels. You can even drive straight to your rented apartment using car rentals at Airport or choose a caravan or a camp. Whatever you choose, you are sure to have an out of the world experience in this exotic seaside town.

Gold Coast has a number of exquisite beaches that are spread over 70 km of expanse. That gives you plenty of choices. If you are here with family, Rainbow Bay is befitting for you because it is a place kids love. It has surfers, other families, swimming areas and interesting food. In fact all beaches here are carefully patrolled, have shade spots and numerous eateries. Gold Coast even boasts of having the best of surfing beaches in the world. Whether you are a beginner or an expert, there is something for everyone. However, if you are looking out for a private patch, then you can drive straight towards Northern coastline using Gold coast car rental and find solace from the noise of the crowd.

In case you want to have a stroll on a calm beach side, you do have serene suburb of main beach where you can hear the wave’s dash against the rocks, truly a unique experience. If you don’t enjoy the excitement of surfing on waves, It has some enchanting still water spots. Drive straight to Broadwater and inland rock pools using car hire in Gold Coast and explore these places, which offer you picture perfect time whether with friends or all alone. If you are lucky, you would occasionally, find exotic colourful birds fly past you. You can carry your food with you or set up a bar-be-que to feed yourself some delectable hot chicken or vegetable as per your choice.

The Gold Coast has a longer whale-watching season than any other bay because of its geographical location, seeing whales swim is, by all means, an exhilarating experience. It also has the most interesting theme parks and parklands where you can enjoy a green treat. Hit the road at night availing cheap car rentals in this city to choose from its vibrant clubs. Do all this and more because this sizzling spot in Australia will surprise you with its offerings.

Car Rental Deals – Why People Like Car Rental Deals

I know that you can relate when I say that I love to get a good deal on something. It shouldn’t take a lot of explaining why car rental deals are some of the most important things that you can partake in when shopping for a rental car. Some people will go to great lengths to find the best car rental deals that they can while others will be more willing to pay the advertised normal price. But did you know that you can just type in the name of the company you are looking for followed by the word coupon and you can find a better price. That is just one of the ways that you can get easy and cheap car rental deals.

There are many other techniques that one can use to get good car rental deals, one little known fact is just ask the company what deals they are offering at the time. A lot of agencies will have a special if you are willing to rent the car for a week, or if you are only going to have it for the weekend. Prices can vary and change depending upon the holiday season or during peak times in the summer, one can really never know how much it is going to cost to rent a car but you can also try to get the best car rental deals.

Don’t get discouraged when one company offers you a high price for a car, there are always more options than you could believe when you look for that perfect rental car for you. You also have to make a choice between two different options, let’s say for example you are on a very tight budget and you just want get the cheapest car possible than you may want to rent an economy style car and try to get the best possible deal on it, but on the other hand you also have the option of getting car rental deals in another way. You could go to an agency and request for a luxury vehicle at the price of a budget or hybrid style vehicle. You would be surprised at how many companies or agencies would be willing to make this switch simply if you ask. They may be having a special and would never have told you about it if you didn’t ask, who would have guessed?

Regardless of what deals or techniques you go after everyone and their moms love good deals so don’t let yourself charge full price for anything that you can get at a discount! I know you would rather have a luxury car instead of a budget car and drive in style, or maybe you just want to get a budget style car even cheaper than they say it is. The most important thing to learn is don’t be afraid to ask, there are many options out there when dealing with rental car deals!

There Are Many Reasons Car Rentals Offer Cheap Rental Cars and You Should Be Aware of Such Reasons

The most obvious reason why you can get a cheap car rental is when the renting outfit is giving vacation discounts on certain months or seasons of the year. This is a matter of routine that they have to do to remain competitive in their market. Although vacation times are the times when people love to go on holiday trips, they will usually rent from companies with discounted rates.

Other companies apply discounts to their prices for certain special and tourist-attractive destinations. These discounts are seasonal such as if you were to attend the Mardi Gras in New Orleans. These types of discounts you have to avail of early on, perhaps a few weeks before the festivities start. The reason is that there will most often be a last-minute rush to the site just before the fun begins and at that time and usually all promos and packages are suspended. This is perhaps due to the fact that the rental companies may run out of their own vehicles to rent out and will have to borrow from those who have any available and leave off on giving discounts for the borrowed cars.

Alternatively, other discounts are given for the sake of boosting their rentals during the slower months of the year or for destinations that are not very popular.

What is obvious is that you shouldn’t have a difficult time getting a cheap rental car for your outing because car rentals are dying to give you discounts just to keep the money rolling in. They even furnish large companies with discount cards which can be distributed to the employees. So you better check with management, if you are working in a big establishment, about cheap rental car discounts from the better known rental companies.

Because the condition of the car you are renting is determined to a great degree by the age of the car itself, a regular renter should know how to determine the age of the car by looking at its plate number. The formula for doing this is available on the internet and it may be different from one country to another and even from one state to the next. So when you research for ‘how to tell the car’s age from the number’ you should select the rules for the locality you are in.

You should be aware that there are also cheap rental car scams. In this situation you may be getting a car which is poorly conditioned or just plain too old to be road-worthy. Besides the car’s age, a look at the mileage indicator of the car will tell you how much use the motor of that car has seen. Along the same line of good car condition, you should be aware that although you can get cheap rental cars at smaller rental outfits if you need to use it for a long time, there is a catch to this. Smaller outfits will not have that many personnel and if you were expecting them to provide back up for you during an emergency, you may get an unpleasant surprise when you find you have to dish out your own money to have the rented car repaired.

Online Shopping For Italian Designer Bags And More

One article of clothing that is almost always in style is a good handbag. Big names like Gucci and Chanel as well as all the other Italian designers have produced very beautiful handbags that are practical and functional for storing their valuables. For those who don’t want to spend as much for handbags, the internet offers less expensive ones that are equally fashionable. The internet makes it convenient for shoppers; by just clicking on an item and paying for it online, the item can be sent almost at an instant to anywhere in the world.

For the best fashion handbags, one can look at Wholesale Central first. This website lists various links that lead to other sites that sell the perfect fashion accessories for the shopper. Handbags are included, of course, and the wide selection of gorgeous handbags can definitely entice a woman.

Purse boutique is also a great website when you’re looking for regular or designer purses. Prices can range from twenty dollars for regular purses, up to hundreds of dollars for designer ones. You can find a clutch bag perfect for your tastes and everyday activities, or the most beautiful Italian handbag made with black leather for more formal functions.

While the internet is a good resource for finding great handbags, it can also be tricky. Due to the vast quantity of merchandise available for your perusal, it can be quite confusing to choose one that is just right for you, and you may end up spending more because you are unable to decide the best one for you. Various websites can also offer secondhand bags for a more affordable price. Be careful in choosing these, though, you would like to have quality handbags even if they have already been used.

The Most Profitable Business Sectors in 2010

Entrepreneurs dream of and start businesses for a variety of reasons. Some hate the jobs they are in, while others dislike the politics of a big office environment. But most would agree that the lure of freedom and flexibility were huge motivating factors.

Regardless of the rationale behind their decision, one criterion is more critical than any other: They want to make money and support their families. While it is easy to get distracted by chasing customers, growing top line revenue and expanding premises, the simple business fundamentals – profit and cash flow – determine whether the entrepreneur’s dream will ultimately last or turn into a nightmare.

It is almost impossible to predict the success and financial health of a business by looking at the number of employees, the look/feel of the website, the size of the office or the resume of the owner. Most of us would assume that the only way to really know, is to get a copy of and read the financial statements. While this is a great idea and valuable exercise, there is also another, easy way to narrow down your choices. You could simply choose to start or buy one of the Top 10 Most Profitable businesses – i.e. a venture that statistically has the highest probability of being financially successful.

Sounds straightforward, doesn’t it? But how [exactly] do you find out which businesses are on the list?

It is not widely known in the marketplace, but there are in fact certain industry classifications which have a track record of high net profit margins and solid cash flow. There are also certain characteristics and financial metrics of these select businesses which exponentially enhance their profitability. So much so, that these particular businesses are 5 to 10 times more likely to survive and thrive.

1. Consultants, experts and speakers
This industry includes business advisors, authors, coaches, therapists, psychologists, authors and paid speakers. On average, these businesses enjoy high per hour rates, carry no debt or inventory and have very low fixed expenses. The number of professionals in this area is growing rapidly each year and they are consistently generating net profit margins of 25-35%. Not bad for a business that is borne out of one person’s expertise – the large majority of these businesses employ less than 3 people.

2. Accounting and financial services
While this industry may sound boring – bookkeeping, payroll, tax compliance, accounting advice and software, advisory services, financial/investment advice etc – these practitioners become a whole lot more interesting when they are standing on their wallets. These businesses tend to have the longest client relationships (as most people perceive a huge risk inherent with switching to a new provider) and thus the lowest churn rate and the lowest cost to acquire and retain clients. They enjoy profit of around 23-26%, have enormous pricing power and their services are seen as must-haves, not discretionary spends. By and large, they also tend to have low operating expenses per client and as a percentage of sales.

3. Legal specialists
Despite their reputation as sharks and bottom feeders, lawyers make excellent profit and cash flow (on average 20-24% net profit margin). Their success factors mirror those of their accounting and financial services colleagues. Most clients are attained through WOM and referrals (keeping marketing costs low) and they tend to stay with their advisor over the long term as there is a perceived risk/cost to switching attorneys. Lawyers are fantastic at generating repeat business and up sales. Some of the most profitable areas include DUI defence, criminal law, tax and estate planning and divorce law.

4. Dentists – general and specialists
Dentists have three key operating advantages – they are often able to treat multiple patients simultaneously, they enjoy high average dollar transactions (most of which is not covered by health care plans) and their operating costs are relatively low (when divided by the total number of patients serviced). Yearly maintenance services (cleaning and x-rays) produce high contribution margins and dentists do a great job of convincing us we need them regularly. On average, they spend more than any other health provider on follow ups and re-bookings. Fortunately, the cost of this direct marketing is much lower than the cost of acquiring new patients and produces returns of 18-22% for the practice.

5. Designers
No matter what they specialize in – structures, decor, your brand, high end clothing and accessories – these professionals have a flair for bringing in the money – in fact about 16-19% on the bottom line each year. These practitioners benefit greatly from high end pricing and relatively low variable product costs and operating margins. Their greatest assets are their customer lists and their time. The greatest risk for those who are not as successful in this area is productivity – either not understanding the time involved to complete a job or not charging market rates for their time.

6. Medical specialists and veterinary medicine
It pays to specialize. The medical profession is relatively recession -proof. No matter what, people and pets tend to get sick and we rarely opt to forgo seeking care and treatment. Surprisingly on the rise are highly discretionary services such as plastic surgery, Lasik eye surgery, lap band specialists, infertility treatment and hair restoration. These specialists are often able to charge outside of what is covered by public and private health care (earning profit of around 14-16%) and they earn much more than their general medicine counterparts.

7. Specialised health and alternative medicine
As with traditional medicine, it pays to specialize. Mental health, podiatry, chiropractic, naturopathy, acupuncture, physical therapists etc. enjoy profits of 13-15% due to high average dollar transactions, repeat visits, low cost of goods sold and low operating margins.

8. Eldercare and retirement services
As the average population continues to age, there is a growing strain on young families from both ends – the need to manage child care with a career AND the need to manage the transition of elderly parents into assisted living or full time care. As a result, placement services, retirement villages, aged care services etc. are growing and becoming more lucrative. Private services in particular can earn 12-14% before tax.

9. Insurance and mortgage brokers
These businesses often cost very little to start and operate and earn their money through 2 distinct streams – the upfront fee they earn for securing the deal and ongoing annual trailers (which can often grow to 80% of their total revenue). While recent changes in many jurisdictions have reduced or delayed their initial payments from banks and various institutions, the ongoing passive revenue streams make these profitable businesses at 11-14% on average. The perceived hassle of switching is high, thus most retain customers for long periods of time and promote/receive referrals regularly.

10. Online business, small deposit and lending institutions
The internet has made it possible for anyone to set up shop and sell goods or services online with little or no experience and low overheads. While there are many dud eBusinesses, the ones that are making money are doing it on a huge scale. The most profitable ones (selling services and membership continuity programs) are earning more than $0.20-0.30 cents on the dollar each year in net profit, but examples of these are few and far between. On average, the ones that sell products and/or services should enjoy 11-14% on the bottom line with no debtors, low inventory and a small investment in fixed assets. Specialised credit unions and private lenders are also enjoying profit margins of around 10-13% due to low overheads and a growing mistrust among consumers with the traditional banks.

From this list, we can draw several important conclusions. First professional services is a winner. Of the list above, 8 out of 10 business fall into the category of professional services. The core drivers of their profitability being steady demand for services(despite economic ups and downs), low overheads, high contribution margins and repeat business. Aside from law, specialized medicine, dentistry and accounting, many of these professions also enjoy relatively low barriers to entry.

More often than not, it pays to specialize. Businesses in niche areas are often able to set high prices, command high value sales with large contribution margins and generate both repeat and referral businesses. This lesson can also easily be extrapolated and applied out to traditionally difficult or low profit industries. Take for example, the restaurant business or general trades like welding or electrical services. By becoming highly specialized, these businesses can directly influence the success and viability of their enterprises.

And finally, size definitely matters. In the small to mid size sector, economies of scale in most industries kick in around $1m in revenue – and this is especially pronounced in industries that require an upfront investment in specialized fixed assets like medical equipment, manufacturing equipment and technology.