How to Avoid Unsuccessful Home Business Ideas

Coming up with home business ideas is tough work. But coming up with a successful home business idea? That’s even trickier. Whether you’re nervous about pursuing a half-formed concept, concerned you’re not properly leveraging your strengths, or fretting over time and money that you can afford to invest in your business, there’s good reason to be worried about bad business ideas. But that doesn’t mean that you shouldn’t start a home business. It just means you need to be careful to avoid high-risk, low-reward business concepts. Avoiding Bad Home Business Ideas Do Your Research Many unsuccessful home business ideas can be chalked up to lack of research. Before you start a business, you need a strong understanding of the existing industry, of how your business will operate, and of the physical, financial, and intellectual resources you’ll need to make your business work. If you try to start your business without… Read more »

Murphy Business Broker Franchise Interview: Frank Chebalo

Frank Chebalo has been the owner of a Murphy Business Broker franchise since 2016. But his experience in business brokerage goes back more than a decade. After a successful career in broadcast engineering and management, Frank left a VP position with the New York Times Broadcast Media Group in 2007, joining a successful business brokerage firm in southern Virginia. Four years later, Frank opened his own brokerage business, operating independently out of Virginia Beach. As his business grew, Frank found himself with a growing list of clients and staff. While this was great news for his bottom line, he started to wish that he had the resources of a larger brokerage network. That led Frank to transition his office from an independent firm to a Murphy Business broker franchise. “Having been in the business for nearly a decade, I was familiar with Murphy and its leadership group, so I immediately… Read more »

Business Opportunities with Healthy Work/Life Balances

There are many factors to consider when you’re starting a new business. That can make it easy to skip over key considerations. So when you’re evaluating different business opportunities, don’t forget to think about your work/life balance. Many entrepreneurs underestimate the importance of this balance when searching for the best new business. Others believe that if you’re starting a business, there’s no such thing as a healthy work/life balance in the first place. Both of these assumptions can be dangerous. Without a work/life balance, either your personal life or professional life will start to feel strained. Problems with one will almost inevitably lead to problems in the other, and your overall well-being will suffer. But if you can find an opportunity that allows you to own your own business and maintain a healthy work/life balance, both your home-life and work-life will benefit. Finding Business Opportunities with a Healthy Work/Life Balance… Read more »

6 Ways to Generate New Business Ideas

If you’re lucky, you have no problem coming up with new business ideas. But if you’re like most of us, that’s simply not the case. You might have the drive to start a business. You might have the skills to run it successfully. But you might not be sure what kind of business you should start. If you’re having trouble coming up with a concept for your business, here are 6 techniques you can use to generate new business ideas. To make things even easier, we’ve included an example of each technique based on the experiences of Murphy Business franchise owners. Strategies for Brainstorming New Business Ideas 1. Try to Anticipate the Next Big Thing One of the most popular strategies for new business ideas is to look at the market and try to anticipate where it’s headed. This strategy can be risky — predicting the future always is. But… Read more »

Keys to Success for Home Based Jobs & Businesses

More Americans than ever before now work from home or run a home business. For many, it’s a dream scenario. But working from home isn’t always easy. If you want to succeed with a home based job or business, you need to be disciplined, accountable, and organized. At Murphy Business, we know a thing or two about home based jobs and businesses. The reason why? Most of our brokers run their franchises from home. This allows them to keep their overhead low, eliminate lengthy commutes, and work in the way they’ve always wanted. In fact, many of our brokers are former corporate executives and managers who found us when searching for the perfect home based job. Others, like Mike Metzger, were searching for the right small business opportunity and jumped at the chance to work from home. The success stories of Murphy Business franchise owners are a great example of… Read more »