Business Insider’s Dan Lampert has some advice for aspiring entrepreneurs who want to build a portable oxygen machine business.
“If you are an entrepreneur with a lot of resources and a solid business plan, this is the right course for you,” Lampert wrote in a Medium post on Monday.
“I have been a business owner for over 30 years and have a lot more experience than you have and have seen this process evolve from one business to another.”
Here are some things you should know before you take the plunge.
If you have a business plan like Lampert suggests, it is probably not a good idea to invest in a portable O2 machine business if you don’t already have a plan in place.
That is because a portable machine business might not have the cash to go through with its next venture.
“In most cases, a business will not be viable unless it has an established plan for its future,” Lamptons Business Insider post reads.
“The biggest obstacle to success in this area is that there is no one to guide you.”
That’s because you can’t rely on a single business to deliver the service or make money.
You’ll have to hire a few more people to help you do the heavy lifting.
So if you have to find a partner who’s willing to help make the business work, it’s probably not the right time to start your own portable O3 business.
Instead, Lampert recommends looking for people who already have an established business plan.
That way, you can find partners who have the experience and know how to run the business.
Lampert said that this type of business has an advantage over other types of businesses.
“It can be much more sustainable,” he wrote.
“You have a stable revenue stream that you can focus on other aspects of your business, instead of a steady stream of expenses.”
It’s also important to make sure your business doesn’t run into problems with regulation.
“There are regulations in place for some parts of the world that make it difficult for a small business to survive,” Lampin said.
“So you want to make certain that you have clear, well-defined rules in place that will help you stay in business.”
The best portable oxygen machines for your businessRead moreThe American Lung Association has a list of guidelines for people with a portable business.
They recommend that you establish a business with a clear business plan and a plan to make a profit in the short term.
“Once you have these rules in mind, you have the ability to develop a business model that works for your specific business and not to compete with other businesses that do not have these same requirements,” the association says.
“You have the flexibility to grow your business into the next phase, and to take risks that others will not take.”
To find your business’s guidelines, go to the American Lung Assn’s website.
Then, check out the information section on the left side of the page.
Lampreys business plan will also help you make the most of your time invested in the business: “You can make a quick and easy profit by selling your portable oxygen service, even if you do not want to,” the post says.
“If you don, you’ll need to sell it.”
You can also create a business template on the same site that shows you what to do in each step.
“A great business plan gives you the tools you need to get started on your business,” Lamperts post says, adding that the template will give you the confidence to start building a business from the ground up.
You can download the template from the American Health Care Association’s website or read more about it in the post.
If a business fails, Lamperits advice is to go to court to make it right.
You can get help from a lawyer who can give you a copy of the business plan before you sue.
“When you have done everything you can to build the business, you will have a chance to get your business back in business,” the advice reads.
“Your business may be in limbo for a while, but at least you will be able to show your business is worth investing in.”
If you’re looking for a portable o3 business, check the listings at the American Association of Portable O2 Machine Manufacturers and the National Portable O2 Business Association.