entrepreneurship

What's the Key to Developing Successful Customer Relationships?

2009-06-15T02:57:00.001-07:00

Develop and Strengthen Your Customer Satisfaction Through Relationships

What is the best way to develop relationships?

By spending time with those you want relationships with. Find out what is important to them. Discover what their goals, needs, and desires are. Keeping in touch with those that are important to us.

We can use this basic relationship premise in the world of our business relationships as well.

Your customers are not buying your product or service.... they are buying the relationship with you.

Let's use the example of health clubs. With health and fitness being so much more mainstream today than ever before, it is an absolute guarantee that customers want to be in an environment where they feel truly understood by those that are helping them.

Determine the goals of the goals of your customers. In the example of gyms, find out what is driving them to use you. Is it to reduce their blood pressure? To lose weight? To get in shape for summer? To increase their strength? By accurately understanding the reason why someone is using your services, then you can provide them with exactly what they are looking for.

Once you know what your customers is looking for, go out of your way to give it to them. In our health club example, provide them with the training necessary to achieve their goals. If their goal is to lose weight or reduce blood pressure, provide access to a nutritionist to make improvements in their diet combined with exercise. For those that are looking to increase fitness or increase strength, give them a training session to customize exercises tailored specifically for them.

Business relationships should continue long after the initial product or service has been purchased. We keep our personal relationships alive by seeing each other, calling and writing each other. Carry this through in your customer relationships. Ask your health club members how they are doing in the achievement of their goals. Determine if they need more or different services. Ask them what they like about your services and if they would like to see anything changed.

Keeping relationships open and honest will bring fulfillment in our personal lives, and profitable in our professional lives. By forming genuine relationships with your customers, they will feel valued by you and be willing to continue to spend their money with you over your competitors that don't appreciate them.

And now I would like to send you my free audio download of my recent teleseminar "Promoting Customer Service in Your Company". It will be sent to you by email when you visit http://www.CustomerCentricTraining.com

Discover WHY it is so important to Promote Customer Service and HOW your bottom line will benefit ...

Helping you focus on your customers- Kristina Evey

Be sure to check back to my site for the latest blog posts, products, and services relating to customer satisfaction and retention at http://www.KristinaEvey.com

Article Source: http://EzineArticles.com/?expert=Kristina_Evey

Time to Start Working For Yourself?

2009-06-05T08:46:00.000-07:00

By Alex I Black

The constraints and problems that have arisen in the past year due to the credit crunch have affected all of us: There comes a time when the majority of people want to take the plunge.

But where do you start?

Firstly the product, make sure you have a unique offering, in these times the price is essential. Everyone is looking for a bargain!

Remember you need to create a bulletproof business plan.

Company Description
Product or Service
Market Analysis
Strategy & Implementation
Management Team
Financial Plan
Executive Summary.

Further info on the bbc website:
news.bbc.co.uk/1/hi/business/2943252.stm

Obviously a good accountant is essential, not only can they take a lot of administration away from you but also provide invaluable advice, albeit for a fee! You have to bear in mind that one of the threats to your steady cash flow is the taxman. You need to make sure you are saving a proportion of your profit to pay the taxes at the end of the year.
The Institute of Chartered Accountants is s good place to start looking for a professional accountant and advice:
www.icaew.com

You also need to build up a good rapport with your bank manager; setting up business accounts with overdraft facilities is paramount while trying to establish a business. Most banks such as Natwest still require a personal guarantee, even for a limited company.

Corporate Promotion

The look and tone of your business are the crux of how you are perceived by your clients. Companies such as http://www.sbsplinter.com have been created to help newly started businesses. Offering professional logo designs, letterheads and website for a very reasonable price.

Article Source: http://EzineArticles.com/?expert=Alex_I_Black

On Being an Informed Source

2009-06-04T08:42:00.000-07:00

Barbara Winter

As all business owners discover, running a business is mostly on-the-job training. Knowing that information exists that can answer almost any question is an enormous confidence builder- but that fact is frequently overlooked. While the helpless loser goes around whining, "But I don't know how to do that," the successful among us are busy seeking information that will show them how. Then they get busy putting what they've uncovered to work for them.

This fascination with information is also necessary for entrepreneurial success. "In times of change," wrote Eric Hoffer, "learners inherit the earth, while the learned find themselves beautifully equipped to deal with a world that no longer exists."

Whatever your business is about, one of the best ways to ensure success is to make a commitment to becoming an Informed Source. Here are some ways to do just that.

* Make learning a priority and schedule time for it. While just running a business can be a profound learning experience, we need other points of view, other bits of information in order to grow to our fullest potential. Make time for acquiring that knowledge by regular reading, attending seminars, meeting with other self-bossers who are farther down the road.

* Learn from the best. Jim Rohn is vocal in urging his audiences to seek learning from the best sources they can find. He says, "There are three ways one can go about learning from others: 1. Through published literature such as books and audio or video tapes. 2. By listening to the wisdom and folly of others. 3. Through observations of winners and losers. So become a good observer. "

The barriers that keep many people from learning from the best sources is that they either can't discern good from not so good or they start comparing themselves to those who are more accomplished and miss the lessons they could learn. It's far more effective to decide to find the best teachers you can and devour their lessons.

* Learn to edit. Editing is the process of sifting through large amounts of material and taking out the bad, the so-so, the mediocre, the unimportant, and leaving in the best. Learning to edit is also learning to discriminate, to prioritize, to evaluate. As an Informed Source, your audience depends on you to deliver only that information which is pertinent. Incidentally, being a good editor doesn't just apply to information: it's also a necessary skill for living your best life...or posting on Twitter.

* Be generous in sharing. Robert Allen earned his first fortune investing in real estate. He built a second empire sharing his successful system through seminars and books. Even if you have no interest in packaging information yourself, there are many ways to share what you know. For instance, one of the most popular guests on Minnesota Public Radio was Geek Squad founder Robert Stephens who frequently shared information on getting the most from your computer. That visibility (plus some fabulously creative marketing) made him stand out from the crowd.

* Put it to work. "Knowledge is power is only half a truth," said Andrew Carnegie, "for knowledge is only potential power. It may become a power only when it is organized and expressed in terms of definite action." Yes, it's fun to know things just for the sake of knowing them, but the truly brilliant users of information are always looking for ways to adapt what they've learned to their own situations. Doing your homework gives you confidence, but only if you use what you've learned.

Barbara J. Winter is a Las Vegas-based self-employment advocate and writer. She is the author of Making a Living Without a Job. She conducts seminars throughout the US and Canada on creative self-employment. Her newest events are a one-day seminar called What Would an Entrepreneur Do? and a three-day event, Compelling Storytelling. She also publishes Winning Ways newsletter, now in its twenty-second year of helping people turn passions into profits. http://www.joyfullyjobless.com

Article Source: http://EzineArticles.com/?expert=Barbara_Winter

Make Your First Business Decision and Start Living

2009-05-13T04:38:00.001-07:00

Alex Cadens

If you are among those living out of a 9 to 5 job, you are clearly one of those people who have not made their most important decision: the first business decision. You might think that if you do not own a business you are not in a position to make any business decisions. Well you are wrong, you are in the best position to make a business decision, and not only any business decision, but the most important of all: starting your business.

It might sound silly, but it is not, it is a 100% accurate reflection of the importance this first decision will have for the rest of your life. Taking this first step is pretty much like jumping into a river. You know it is cold, you know that it will make you tremble and you just cannot seem to find a way of plunging in. But what happens once you finally decide enough is enough and you just jump into the water?

Well, as you had predicted, you struggled a little with the cold but after a while you start to feel like the water is really great. The same will happen before you start a business, you will think of millions of reasons why you should stick to your job, business is not for you, you do not have money to invest and so on.

But once you get rid of all those self erected barriers you will realize that things were not as hard as you had imagined. Yes, you had to deal with a lot of difficulties until you finally got used to the water temperature but now you are starting to feel: this is great!

That is the path to creating a great business for yourself, you have to make a decision, your first business decision: START.

Once you do that you will have to overcome some challenges, you will have to put effort and invest in your business, and if you picked the right business model, you will be a fish in the water within only months or even weeks of having made that decision.

You do not need a lot of money nor you need to be a PHD in order to start and run successful business, all you need is a little bit of effort and the necessary know-how.

Learn what resources can actually help you understand and build a real business with little startup capital and an unlimited potential for growth at: http://www.specialonlinebusinessreviewauthority.com.

Article Source: http://EzineArticles.com/?expert=Alex_Cadens

Entrepreneurship - Save Yourself!

2009-05-13T04:34:00.000-07:00

Kalandra Robinson
A conventional method of earning an honest wage is known by working a conventional job. A job at a typical Monday through Friday, 9 to 5, is what most people have grown accustomed to and sees it as safe. Our current economical flaws have tainted the comfort and security of this, which is why more people now than ever are beginning to realize that the only entity that will truly be honest with them, is themselves. More and more today, people are counting the costs only to discover that what once was secure and promising is nearly a thing of the past.

There was once a time where a person would have had one or two jobs their entire lives. They would work for a company 30 years and retire comfortably. Today, the average person holds job anywhere from 1 to 3 years, if that. The dynamics of the work-force has changed so much to where it seems as if there is no dignity, no respect and no positive outlook on employment. Much of this is not only on the shoulders of employees; employers should bear the burden on this too.

You've completed high school, attended and graduated college. Or, college just wasn't your thing and you discovered other means of survival. You're educated, marketable and have already drawn a lay-out of how you're going to climb the corporate ladder. Well, if the company you work for happens to survive another month, it's not necessarily an indication that your particular position is safe.

Down-sizing, cutting-costs, out-sourcing, internal changes and whatever else they're calling it is why we need to stop and look around at those that have fallen and start making preparations. Do not panic and start looking for another job. One of two things will happen. You either won't get the job because no one's hiring anyway, or, you'll get the job and be laid-off within a year.

It has become apparent that no one is safe. Every couple of months or so, companies hold periodic budget meetings and this is where they find areas that they can either financially afford to improve on or get rid of altogether. If you're able to, have your own an exit strategy already in place. Continue to work as usual, but keep in mind that everyday someone gets cut. You may be lucky enough and survive all of this, but there's so much uncertainty.

One way to slowly transition into the possibility of having to earn your own keep, start taking your hobbies seriously. Sure, there may be some things that you do on the weekends that are pure fun and something to simply pass away the time. But go down the list and see what you find that maybe you can turn into a viable business.

I find entrepreneurship happening in one of four ways:

* After solving one of your own problems and other people coming to you for help.
* Tired of working for other people and following procedures that make absolutely no sense.
* A new way of doing something that already exists but in a more efficient or cost-effective way. Why recreate the wheel?
* Loss of employment.

To help get things moving, here is a list of questions to ask yourself:

* What are some of the things you find yourself doing in your spare time?
* What things are you knowledgeable about that keep people coming to you about?
* What things do you think about that get you really excited?
* What things can you talk about for hours on end?
* What did you always want to do for a living, but you ended up getting "a job" to pay the bills?
* What can you do with your eyes closed? What can you do without even thinking about it?
* What do people always compliment you on?
* Even at your job, what do others say you're really good at doing in the office?
* What are some of your favorite movies or music? Maybe you can create an income in entertainment?
* Comic Books are big movie-makers today. Maybe you can create a new villain, or good guy.
* Like to draw? There you go.
* Like to write? There's another one.
* Love to cook? Maybe you can cater, from home.
* Always in the mirror yourself or do you enjoy making people look their best? Go into the beauty business.
* Do you enjoy business administration? Help more than one company and become a Virtual Assistant, from home.
*Do you always have a hard time finding clothes that fit right or shoes that fit right? Create prototypes of what you like, design it and start your own line. I can almost guarantee that whatever issues you're having, others are too. Solve a problem (strong piece of advice).
* Enjoy talking to people and helping them to figure things out? Become and start your own counseling business. Be a personal Coach.
* What outdoor activities do you enjoy?

These questions should help give you ideas on where to start and how to think about this. There is tons of information on the internet that can inform you on how to actually get started on your way to entrepreneurship. Best of all, many of these can be done from home.

People go into business for themselves for many reasons. Some have a choice and have the money, and some loose their jobs and have no choice. A lot of us are somewhere in between. Find your place and start living out your dreams. Entrepreneurship is not always easy, but it is very rewarding. Do a lot of research, take good notes and calculate your costs. But the most important thing is to take one step at a time. Time, effort, knowledge and passion for whatever you decide to do, will get you where you want to be at the right time.

Wishing you the best success.

Kalandra Robinson is an Entrepreneur Enthusiast who encourages people to be brave and to take calculated risks towards living their dreams. She writes articles on topics including Self-Improvement, Fashion and Skin Care just to name a few. Kalandra also develops Quality Bath and Body Products. Please visit http://www.hazelbody.com.

Article Source: http://EzineArticles.com/?expert=Kalandra_Robinson

The Secret of Starting a Successful Business

2008-12-15T07:35:00.000-08:00

By Gary M Bailey

Millions of expert websites out there promise to teach you how to start and run your own home based business online, all of them with their own version of the "cannot fail" blueprint for success. But there is one secret ingredient that you must have in place if you are going to get the best start in business for yourself...

If you've been researching online businesses for a while, you are probably thinking that the answer is to find your niche - but you would be wrong. Nor is it anything to do with the "right" system or the "right" advertising or having the ultimate website design. All of these things are important, but there is one thing that is overridingly important - one thing that has the power to determine how your business will go.

Really - this energy has shaped your life so far - and it will determine the course of the rest of your life as well. Whether you know about it or note, and whether you are in control of it or not, this will control your life more than anything else. It can open doors for you, or it can slam them shut in your face. It can put you in the right place at the right time, or make sure you are never anywhere worthwhile at anytime!

What is really incredible about this power is that you have it within you - and all you have to do is to turn it on to start receiving all the things you want immediately!

What is this power? It is the power of your dreams!

So - how can your dreams give you the best start in business? By becoming your business! There is some reason in your life why you are starting your own business. Before you even get started with the actual business, you need to get really clear on what you want from life. Then you find a way to lock those images in your mind, every day - and the more incredibly extravagant your dream is, the more power it has.

You need to find the ways that work best for you - but pictures are a really powerful way of locking in your dreams. So if you want a new car - get a picture of exactly the car you want. If you want a new relationship, or a new life - try some pictures of how you would like your life to look. Now get focused on those, every day - and get very involved in that new life you want - driving that car, being with that partner. Now watch what happens...

When you get focused on the outcome, something amazing happens. Suddenly, you become very resourceful - and it is almost effortless! Just by concentrating on where you want to be, many of your obstacles will just vanish, and you will find yourself coming up with solutions to the others seemingly from nowhere. Not only will you get the best start in business, but you will be in the best business for you - because any business not in line with your goals will simply not fit your new view of life.

All this sounds great - so why are so many people NOT achieving their goals? Well - it is very simple. This is not hard to do - in fact we often do many things far harder with far smaller results - but it is also easy not to do. You have to be totally committed to your dreams - just as you cannot be half-hearted about your business. Everyone has something that really lights them up - something that will drive them no matter what - and that is the power that you need to use. After you do that, and then focus on whatever that is for you - you will be unstoppable! But if you are going to "give this a try" or "see what happens" you will not see results. These are not my rules - it is just the way this works - but if you can get clear on what you want from life, and get focused on it - you will be amazed at how quickly you start to see progress.

With one six-figure income home business behind him, Gary Bailey is very familiar with the power of harnessing dreams! He is now well into setting up his second online busines - find out more about what he's doing at http://hbr.whoisgarybailey.com.

Article Source: http://EzineArticles.com/?expert=Gary_M_Bailey

Finding the Motivation to Start Your Own Business

2008-12-15T07:30:00.000-08:00

By Russell Dalbey

Starting your own business can be an immensely rewarding experience. The potential upsides are huge since, as a business owner, you will be in control of all aspects of your financial destiny that can make your life so much more fulfilling. But where do people find the motivation to get started? Where does the drive come from to make a business idea move from just a dream to a full blown reality?

Most people would agree that you can't get rich working for someone else. It just isn't a common thing. The frustration with working under someone else can lead to dissatisfaction in the workplace, thus motivating you to start out on your own. However, using your current job to help provide stability while you are working on the business is a great idea. The notion to just up and leave your currently stable income is a bad idea. Getting your new business of the ground will require a level of effort beyond your current job, but the rewards will be worth it. The bottom line is that there is no need to do an all or nothing approach. Gradually starting your business in a small way while working at your job can help you stay passionate about the idea without having to go out on a limb all at once.

One of the best ways to uncover your motivation is to write down what it is you want in life. Taking the time to be honest about what you want in all areas of your life will help to clarify whether or not starting a business is really for you. Once you have written a clear idea of your business needs, you can start to refine it by setting some goals. This exercise is vital because it will force you to get clear on what you are truly interested in. Your motivation will become quite apparent when it's down in writing!

Having written ideas will help you with your short and long term goals. Although one of your goals may be to completely support your family with the income from the business, you'll need to get customers first. It will show you what you can do today to get started. You could begin by getting one customer and see how it goes. In this case, you haven't gone too far out on a limb, and you haven't broken the bank on your savings. And, you got some business experience.

One thing that can get overlooked when starting a business is that you need to do things that are both effective for the business and for you! If you start off biting off more than you can chew, it can crush your motivation. The mantra of the budding business owner is, "Do one thing every day!" Now that sounds small, but if you are new to being your own boss, doing that one thing will create a great amount of momentum in a short period of time. Doing just one thing is pretty easy and straight forward. Taking daily action in your business will make a huge impact on both your business and your motivation as you are getting up and running.

Now, the main thing about motivation is staying positive. There is nothing that will keep you moving in the right direction quite like having a positive attitude. Not only that, but surrounding yourself with positive influences like people who can support you will definitely keep your spirits up! There will be times when you hit walls but having a support system will keep you focused.

Motivation can be pretty simple and straight forward. The main thing to start with is being honest with yourself about what you want by getting it down in writing. Then start small by keeping your job while working on the side to start your new business. Lastly, surrounding yourself with supportive people and things will help you keep your eye on the ball!

For more information on Russ Dalbey's best-selling Winning in the Cash Flow Business course please visit our website.

Article Source: http://EzineArticles.com/?expert=Russell_Dalbey

Wedding Planner Business - Make the Most of Your Talent

2008-12-01T04:06:00.000-08:00

By Ante Williams
Some of you have the talent to bring out the artwork that is bottled up deep inside you, but you have never had the chance to prove yourself. The wedding planner business is one such field, where you can allow yourself to experiment as much as you want with your knowledge of art and in return get paid for it. However, your artistic taste will also have to match up with your understanding of the person's budget for whom you are planning the entire event, or else it does not make sense.
In most of the cases, the professionals that are sent over to plan the entire wedding may not be compatible for the task, as they may always look to something gorgeous and high priced. Under such circumstances, if you can provide the people with the ambience that they want and the designs they like, at an affordable price, you can do very well in the business. Some of the people have the inborn knack to get the entire job done in a simple manner, yet leaving an impact.
Thus, if you are looking forward to open a wedding planner business of your own, do make sure that you understand the market pretty well. Other than this, your creativity must not be stalled and you have to keep designing or concocting something new every time, so that the people visiting weddings planned by you have something new to see. This will keep their expectations from you alive and get you more work through referrals, which matter greatly in the wedding planner business.
If you need money now, like I mean in the next hour, try what I did. I am making more money now than in my old business and you can too, read the amazing, true story, in the link below. When I joined I was skeptical for just ten seconds before I realized what this was. I was smiling from ear to ear and you will too.
Imagine doubling your money every week with no or little risk! To discover a verified list of Million Dollar Corporations offering you their products at 75% commission to you. Click the link below to learn HOW you will begin compounding your capital towards your first Million Dollars at the easy corporate money program.
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Article Source: http://EzineArticles.com/?expert=Ante_Williams

11 Killer Instincts of Entrepreneurship

2008-12-01T03:52:00.000-08:00

By Jeff Chavez
Jeff ChavezLevel: BasicAs President and CEO of Northstar Ventures, Inc. and the Northstar Thinktank, Jeff Chavez leads a dynamic team of business coaches and consultants who work ... ...
Here's a quick look at the 11 Killer Instincts of Entrepreneurship:
1. The Solution Instinct: This is about ideas and always seeing them. It's about seeing new opportunities while traveling, shopping, or working. Seeing problems and potential solutions to those problems is at the heart of valuable ideas and business models.
2. The Detective Instinct: This is about fact-finding and due-diligence. It's about letting go of the emotion and excitement of a good idea and taking a venture-capitalist approach. This instinct is something that keeps one constantly assessing how a business model will work, scale, and succeed... without personal bias.
3. The Great Communicator Instinct: This is about connecting and constantly selling. It's a constant awareness that every point of communication matters. Whether communicating with partners, investors, vendors, employees, or competitors; every communication is an opportunity to strengthen your company.
4. The Youthful Genius Instinct: This is about doing what you love. When we were young, we dreamed big dreams and showed glimmers of what we might become. Tapping into the expectation of our youth is central to successful entrepreneurship.
5. The Entrepreneurial Heritage Instinct: This is about how our heritage can reveal some or our natural gifts. What has your family and ancestors been successful at already? Exploring your roots can help one tap into opportunity. There is a reason why many families pass along entrepreneurial success and create "dynasties" of their own.
6. The Risk-Taker Instinct: This is about going out on a ledge. No risk, no reward. It's a fundamental factor of business building or almost any major endeavor. Finding the calculated balance of risk and opportunity is key.
7. The Work-Horse Instinct: This is about paying the price. Doing whatever it takes. Those "overnight successes" usually require at least 5 years of hard work and incredible sacrifice to get there.
8. The Thick-Skinned Instinct: This is about being tough. Resilience, optimism and a positive mindset reside in every great entrepreneur. The fundamental key to success in attaining goals? Never give up.
9. The Flexibility Instinct: This is about being willing to change. Emotion and pride must be removed from the process while building a business and paying attention to the best route to take. The right path naturally eventuates; if you're willing to recognize it and take it.
10. The Human Instinct: This is about people. Attracting the best people is more important than the business model itself. Treating people well, leading well, and serving with care is a fundamental reason why anything worthwhile should be built in the first place.
11. The Knowledge-Quest Instinct: This is about constantly learning. Reading, thinking, listening, observing, absorbing, and applying is a hallmark trait of a great entrepreneur.
These are unique instincts and in my experience, everyone possesses at least a touch of each of them. And it's my observation that every natural instinct can be discovered, uncovered, and developed by anyone interested in doing so.
Read more at the Northstar Thinktank Blog: http://entrepreneur.northstarthinktank.com/
Jeff Chavez is the President and CEO of Northstar Thinktank, a division of Northstar Ventures, Inc. He leads a dynamic team of business coaches who assist small businesses and entrepreneurs throughout the world. Jeff has raised millions from investors and launched several multi-million dollar companies over the last 15 years. He is a successful author and educator, and has made numerous public appearances including CNBC's "The Big Idea" with Donny Deutch.
Article Source: http://EzineArticles.com/?expert=Jeff_Chavez

Turn Your Passion For Cleaning Into Fast Cash

2008-12-01T03:44:00.000-08:00

By Samuel Austin
Have you ever wished that you could stay at home and do something that you enjoy, instead of going to work and tolerating what you have to do. What is stopping you? Is it that fact that you don't know where to start, or maybe you are afraid to take the chance. I have always tried to live by the motto that the only true failures in live are the chances that are never taken.
Whatever it is that you love doing, I assure that there is a way to make money doing it. Take me for instant I loved marketing companies, I have never had the urge to start up a company or even run a company all I have ever wanted to do was advertise it. Maybe you like to clean as strange as it sounds maybe cleaning relaxes you. So why not go with it, start your very own cleaning company. Before you get all offensive, yes it really is that simple. Instead of making up reasons for putting the business on hold, just hold your breath and jump right in.
If you are going with a cleaning business, you are going to need a little bit of start up money. You will be using this money to buy some essential cleaning supplies, and also to put into the advertising budget. Put these fliers everywhere. Try and hand outside of areas where you are going to find tired moms. These moms will more than happy hire other people to clean their homes for them.
If you need money now, like I mean in the next hour, try what I did. I am making more money now than in my old business and you can too, read the amazing, true story, in the link below. When I joined I was skeptical for just ten seconds before I realized what this was. I was smiling from ear to ear and you will too.
Imagine doubling your money every week with no or little risk! To discover a verified list of Million Dollar Corporations offering you their products at 75% commission to you. Click the link below to learn HOW you will begin compounding your capital towards your first Million Dollars at the easy corporate money program.
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Article Source: http://EzineArticles.com/?expert=Samuel_Austin

5 Steps to Creating the Psychology For Success As an Entrepreneur

2008-11-12T00:28:00.000-08:00

By Robert Greenshields
If you're aiming to build a successful business, there is one thing that will determine whether you achieve it.

It's not about how good your product or service is.

It's not even about how good your marketing is.

The real key to getting the success that you want is developing the right business mindset. The problem is that many of us who set up businesses do so after successful careers as employees, managers or directors working for someone else. But the reality is that you need to think and act differently as an entrepreneur or independent professional than you do to build a high-flying career in other organizations.

That's why many people find it hard to repeat their success when they establish their own businesses. So taking the right steps from the start can make success much easier and more comfortable. It doesn't mean that you have to change your personality and it's not about whether you are a 'born salesman'. You just need to take a slightly different approach to how you think, work and communicate with others.

Here are 5 important steps:

1. Set a Clear Outcome

If you go on a journey, the first thing you need to know is where you are headed. Yet most businesses don't have a clear idea of where they're going, so it's not surprising that so many fail.

When you don't have clarity, you don't have direction; it becomes hard to make decisions, and your results end up being average at best. But when you've set clear objectives, it is much easier to make good decisions. Taking some time to establish a distinct vision can be very profitable.

2. Take Action

While it's important to aim high in setting your vision, it's best to start with small steps. But most people don't achieve what they want because they don't ever get around to taking that important first step.

Many people fall victim to those profit thieves procrastination, where you put off things you need to do, and perfectionism, where you wait until it's 100% right before taking action. The problem is it will never be 100% right and nobody else will do it if you don't take action.

3. Encourage and Respond to Feedback

Thomas Edison regarded every one of his thousands of 'failed' attempts to make the light bulb viable as being successful - because each one helped him move closer to his goal in some way. It's the same in business. Without taking that first step, you will never get the feedback you need in order to be successful.

4. Stay Focused on Your Goal

As you start moving towards your goal, things will happen that might tempt you to drift off course and keep you from achieving your objective.

Psychological studies suggest that your mind works on bringing into reality whatever you are focused on. That's why it's important to get clear about exactly what you are aiming for. But you need to stay focused on what you want, rather than worrying about what you don't want.

5. Take Responsibility for Your Results

Whenever you set out to do something, you will always end up with either the result you wanted or an excuse for why you haven't got it. People who come up with reasons or excuses for something not happening usually see themselves as not having any control over the outcome. Successful people on the other hand accept responsibility for whatever situation they are in and seek to change it.

Whether you choose to be one of the people who gets results or one who has many excuses for not getting them, you will always get what you want. Of course, the product also has to be right and the marketing needs to be effective. But, when you are seeking success as an entrepreneur, the right mindset gives you a great start.

Robert Greenshields is a marketing success coach who helps entrepreneurs and independent professionals create higher profits by changing their mindset and marketing strategies. Download his 7 free tips on becoming more persuasive

Article Source: http://EzineArticles.com/?expert=Robert_Greenshields

Don't We All Need Extra Cash Now and Again?

2008-11-11T23:51:00.000-08:00

By Paul Forcey

At some point in our lives we all need some extra money, maybe a loved ones birthday is coming up, maybe you have a bill that is just a bit more than you thought it would be. The bottom line is you need some extra money quickly.

Maybe you can take on a extra shift or two at work , which is a great idea but the company won't pay you for the work for at least two weeks and quite possibly 4 weeks. The bill is due next week and panic is starting to set in.

I know exactly how you feel, I have been there myself more than once, I realized I had two choices. Put my head in the sand and hope that money for the bill falls out of the sky or go and earn some cash.

Since I have never managed to find the money tree that my mum always talked about when I was a kid I chose to go out and earn some extra money. There are so many ways you can get cash, some of them involve work some of them involve selling something you own. I prefer to go out and do some work to get the extra money I needed.

Once I decided I wanted to get the money I needed by Friday rather than hide away from the bills the question was , What can I do that will get me cash rather than having to wait for a pay check? I managed to get some work doing painting for a family friend in this instance. It paid well, they got a outside wall painted that they wanted done and my bill got paid so everyone was happy.

Painting houses, walls, fences is relatively easy (especially if the house is only one level) and it is one thing that most of us put of as long as we can just because it seems like hard work. That means there is a good chance that when you offer to paint someone's tatty looking fence for a decent price they will jump on your offer. Painting isn't the only way you can earn cash quickly. As the economic times get worse and worse I know more and more people are talking about how they need cash quickly so I collected together different ideas I had for ways to make some quick cash.

You don't need any special skills for most of them and for 90% of them you don't even need to own a PC! Although the chances are you do as you are reading this.

Being so broke you are scared to open the door when someone rings the doorbell is no joke, at sometime in our life we all need extra cash and I have found over 40 ways that you can get cash by Friday.

Article Source: http://EzineArticles.com/?expert=Paul_Forcey

Why You Need a Business Plan For Your Online Business

2008-10-20T14:17:00.000-07:00

By Sean R Mize

- Some entrepreneurs who were new to the business world did not have the skills or knowledge that would be required to start and run the business. They used the business plan to understand what aspects of the company they need to know and know well. Like production or pricing, selling and distribution. They used the business plan as a guide to learning all the relevant topics for one year and this helped them to launch a successful business at the end of it.

- For those who are already have some skills and knowledge, a business plan works to guide them in one consistent direction. It is a to-do list that tells you what you need to be doing at regular intervals.

- Using your business plan, you can use various sources of information to gather statistics, study competitors and gain knowledge about production and pricing. As you work on your business plan you will understand better how your business can function well and how it can actually make money. You will be able to analyze markets, costs and prices. All these can be used effectively in planning your financial statements and estimates of revenue for the future. Knowing so much about your business gives you great confidence but you are also able to convince others more easily of the feasibility of your business.

- You will therefore derive multiple benefits from your business plan - you will be able to have a detailed plan which will help overcome potential problems. Your grip on the financials of the business will help convince bankers and investors to put in money for your business. Further, your market research will pay dividends for many years to come and can be used to convince retailers as well as potential investors.

So do not ever catch yourself thinking that you are too busy planning other aspects of your business and that you do not have enough time to work on a business plan. Never fool yourself into thinking that if you have a good idea, the money and the enthusiasm, you will be able to start a business. Planning is so important that if you are not willing to focus on the most important issues like strategy and operating details, then you should be asking yourself if you are up to running a business.

Do you want to learn more about how I do it? I have just completed my brand new guide to article writing success, 'Your Article Writing and Promotion Guide'

Download it free here: Secrets of Article Writing

Do you want to learn how to build a big online subscriber list fast? Click here: Secrets of List Building

Sean Mize is a full time internet marketer who has written over 9034 articles in print and 14 published ebooks.

Basics of Creating Your Business Plan

2008-10-20T14:09:00.000-07:00

By Sean R Mize

We now come to probably the most feared, most avoided but the most important task in beginning a business. Many believe that a business plan is only for those seeking outside financial help like from a bank or investors. Others believe that this is just unnecessary paperwork and that the best business plan is in their heads. Some who believe in it do so only half-heartedly and come up with a one or two page plan of how they see their business progressing. All these approaches are misguided and without proper direction, the business is more likely to sink than grow.

The most important point to remember about a business plan is that it is first and foremost for you! It is to layout a concrete plan to successfully start, manage and then grow your company. It will force you to think and invest in strategy planning, market research, financial planning, operational details and marketing plans.

However, we will concede that it is not easy to immediately start out working on a business plan and every business plan will need working and reworking. We will try to provide you first with some general guidelines on what a good business plan should include and once we have you thinking in that direction, we will start helping you fill out all the details in the business plan.

Let us first outline what a well written business plan will contain:

- An attractive statement of purpose - when people ask you what your business does, this is the first statement you will be using.

- Complete description of who you believe your customers will be, any special niche you are aiming for as well as a general strategy for winning over that niche.

- Complete description of your product or service. Mention what are the highlights and what could be its challenges, production or selling wise.

- A well compiled list of people who will be working with your or advising you in various aspects. Mention clearly what their skills and areas of expertise are.

- Details of financial plans that will show how you plan to finance the first few years and expected revenues and expenses

- Major risks that you may face before your business settles down and major advantages that may help it grow well.

As you can see, your business plan is more like a map to guide you through, at any point in time. If you have given sufficient thought to planning and written down the steps in sufficient detail in your business plan, no matter how many ups or downs there are, you should be able to stay on course. In fact, one expert likes to compare a business plan to the centerboard of a sailboat. Irrespective of how the wind is blowing, your business plan will always help you stay on course, headed in the right direction.

If you would like to look at some samples before you begin on one, you can speak to banks or business websites, which can help you by showing samples of a few business plans. You could also look up one of the thousands of books in your local library, which should contain a sample. However, treat the sample as just that. It is meant to give you an idea of what are the essentials that should go in a business plan. Do not worry if your plan is too long or short, simple or complicated. What should matter to you is that it is written in a manner that you can follow easily, contains information that is helpful to your business, identified possible challenges that could arise and outlined plans for overcoming them.

Do you want to learn more about how I do it? I have just completed my brand new guide to article writing success, 'Your Article Writing and Promotion Guide'

Download it free here: Secrets of Article Writing

Do you want to learn how to build a big online subscriber list fast? Click here: Secrets of List Building

Sean Mize is a full time internet marketer who has written over 9034 articles in print and 14 published ebooks.

You Need to Know Your Business Inside and Out

2008-10-05T14:20:00.001-07:00

By Cash Miller

True understanding of your business and your industry is a necessary step towards becoming successful. It's not about just opening a book and thinking you can learn what to do to make your business thrive. There are many different aspects in business. You need to understand things like management, marketing, human resources, and taxes. And you need to understand exactly how they apply to your business.

When we think about the management issues of your business what comes to mind? Maybe what kind of skills might your managers need. What kind of compensation will be required to attract good help? What kind of positions within your organization may need to be staffed in the coming years? And where are you going to find qualified managers or will you need to train them from the ground up. It's these kinds of questions that you need to ask yourself so that you can learn more about your business.

In small business you have to be concerned with the marketing of your services or products. Do you know what kinds of advertising methods are best for your business? Do you know the costs of those kinds of services? Have you checked on the competition lately to see what methods they use to sell their products or services and do you know what kinds of prices they charge? Have you taken the time to develop an effective marketing plan? Marketing your small business is not an easy task and the things that have worked so far may not be effective in the future. Do you know what methods you may be able to use if something you use today fails?

When we look at the human resources aspect of a small business we can find many questions that need to be asked. Things such as how much should your employees be compensated? Do you or are you in the future going to offer health insurance and is your plan the best you can get? How will you handle doing employee reviews and giving out raises? What do you intend to do if you need help quickly? Will you use a temporary labor agency or do you have an alternative method. There are many questions in the human resources field that should be answered.

One of the most horrible subjects out there is always taxes. Can you do your taxes or do you rely on someone else? Are they doing the job right and saving you as much money as they can? Do you know how to handle payroll taxes and sales tax? Are there specific taxes that apply to your state? Something like a headcount tax maybe? How about if you sell items across the state line or operate locations in other states do you know the tax laws for those states?

There will always be questions in business that need answers. It's up to you to take the initiative to search out those answers and ask yourself whatever other questions you might be able to think of. The old cliché that knowledge is power is especially true in business. And as a small business owner you need every edge you can get.

Cash Miller is an expert in small business affairs. To receive more tips that can help your business and let you to crush your competition you can sign up for his FREE Newsletter at http://smallbusinessdelivered.com/free-newsletter-signup.html. Once you've signed up your going to receive access to 5 FREE E-Books that can help your business prosper. And as a Bonus FREE Newsletter Members can expect to receive an additional FREE E-Book each week.

Sustainability in Business

2008-10-05T14:13:00.000-07:00

By Dan Boudreau

Whether you're starting, buying, or growing a business it's critical to determine whether or not the business is sustainable.

There are different ways to view sustainability. Some of the more important measures are money, time, energy, supply, demand, social, and environmental.

The most common measure for small business is financial sustainability. This is because cash flow shortfall can kill a business no matter how well it's going in other aspects.

If you have a business that leaves you with even a small amount of profit after all the bills are paid, it may be financially sustainable. If the same business costs more to operate than it can capture in sales it is not sustainable. That is the simplistic view.

Of course it's not that simple. To complicate matters somewhat, the example above would have to continue to be profitable over time in order to be sustainable. It is entirely possible to have a thriving business turn on you, even after many years of earning profits.

A privately owned business must generate at least enough profit to meet its owner's needs. This can vary greatly, depending on the owner's motivation. There are different reasons to own a business, such as lifestyle, making a difference, or simply doing a type of work you love to do. Even thought profit might be less important to some owners, the business still has to be sustainable.

The financial example views sustainability through the money lens, but you can use the same thought process to evaluate sustainability through the many other important angles as well. Here are a few questions you might ask about any business.

1. How much of your time will the business need? Will the business leave you enough time for a life; does your life allow you time to run a business?

2. Do you have the energy needed to sustain the business? Can you do the necessary work without burning out?

3. Will the demand for your products or services continue into the future? Will the demand increase or decrease?

4. Can you supply the products or services at sustainable levels? Can you secure supplies in a timely way, at costs that keep your business profitable?

5. Will your business be socially sustainable? How will your business treat its employees and its customers? Will you be able to attract and retain the necessary skilled workers? How will your business give back to the communities it serves?

6. Will your business be environmentally sustainable? Environmentally friendly business is smart business in today's workplace. Increasingly, the cost of environmental impact is brought home to the source. In most cases that source will be you, the business owner.

Finally, be sure to include taxes in your calculations. Only after the taxes are paid can true sustainability be determined.

Whether starting, buying or growing your business, the best time to evaluate sustainability is before you put your equity on the line.

Dan Boudreau is Author of Business Plan or BUST! and hosts the RiskBuster Practical Business Planning Oasis at http://www.riskbuster.com

How Much Should I Charge When I Start a Cleaning Business

2008-09-29T14:22:00.000-07:00

By John F Smith

Starting a business is quite an easy thing if one has already made up his/her mind about something. Like for example, when setting up a cleaning business. But there are still so many things to think about and go over before finally opening it up. One of the most important is as to how much I charge when I start a cleaning business. This is one of the most crucial because it is in the pricing that customers look into before patronizing a service. There are certain parameters when starting out a pricing list for a newly opened business.

One is the area of the business. Area means that the rent, the bills, and the other important charges should be properly totaled and generously fractioned to the number of expected customers. Next, one must ensure that the pricing is competitive enough. This will entail that one is to do dirty work. Move around check out the same businesses, and get their pricing. And lastly, improve your services against competitors. Design some hot offers and deals as you open up the business. This will entice customers and if you do your homework, they will come back for more.

Having a very competitive business as cleaning services is basically service and customers. So it is very important to improve not only the service but how one can deal with his/her customers. Doing so will bring your return of investment (ROI) in less the time than you have allotted. That happening, the business is definitely a success!

Learn How To Start A Cleaning Business, visit us at StartACleaningBusiness.org.

4 Sound Methods For Building Your Customer Base

2008-09-25T14:31:00.000-07:00

By Robbi A. Gunter

Doing business the same old way, day in and day out--maintaining the status quo--equates to nothing more than a mediocre business. In today's competitive environment, you must continually reevaluate your business. Build a strong, enthusiastic customer base and you will flourish.

One successful approach to increasing your customer base is to learn about the customer. Know about their families, company histories, hobbies; use intuition and natural bonding processes. Women specialize in these says Aliza Pilar Sherman, in Selling Like a Girl (2008); men can be trained. Make your customers feel valued says mediator Elinor Robin, Ph. D. "customers soon forget what was said and charged; they remember how they felt."

First, it's easier and less costly to keep an existing client. It is a fact that 80% of your business comes from 20% of your customers. Building a loyal customer base is imperative for a growing business. Create realistic expectations and always live up to them or exceed them. Customer service is the lifeblood of a successful organization. APCO's CEO, Margery Kraus strives for a 95% satisfaction ratio in customer feedback. "An easy was to stay in touch is to survey your client/customer base. Use the survey results to gauge how well you are doing and make any necessary adjustments." Survey your customers electronically.

Use customer case research (CCR) to let your customers make the case. Chart the trail of circumstances, events, people, experiences, actions, or thoughts that led them to buy a product or service. Let them tell their stories in their own words. CCR concentrates on the customers other experiences. Review shopping lists, vendor files, and catalogues used. Create relatedness.

A third method is recommended by Barb Mulhern, president of LR Editorial & Consulting, Inc., an editorial and safety consulting firm; simply put: "diversify. When I started out, 90% of my business came from one client." There were nerve-wracking weeks when contracts were due for next year's service "and I realized the importance of having more than one major client. We signed them eventually, but in the 15 years since I learned how to find many customers. They are your bread and butter."

The fourth method of building your customer base is to become a media maven. Learn print, electronic media, broadcast (TV and radio) and all other arenas. Trade shows, customer events, mail and web services. Learn to trim and pare your message--then everyone should hear it. Learn to deliver a 60 second elevator speech to show a total stranger what you do. And try splitting advertising costs with suppliers. You'll reach more prospects.

Robbi Gunter is a staff writer for Strong Business Credit, a free educational web resource for small business owners and businesses seeking to obtain business financing and credit cards.

Article Source: http://EzineArticles.com/?expert=Robbi_A._Gunter

Seed of Success - Can One Man Make a Difference?

2008-09-24T12:59:00.000-07:00

By Lee Walters

Growing up in a middle class family of seven was a learning experience which caused me to reflect often about the whole issue of success and motivation.

Our family was a microcosm of the varying income strata ranging from wealth to low middle-class. I studied the motivations (or lack of) of those within these strata and here is what I discovered: somewhere in the life of those who strive to rise above is an underlying reason which causes them to need to excel. Their reason is governed by two factors, desire for more and fear of loss.

These types are, in a word, driven. They can not sit still until they achieve a certain goal and once that goal is achieved they create a new goal larger than the first. Those of us who want to succeed can learn from these motivated people.

I learned from my Uncle Charlie (the millionaire of the family) who gave me great advice. On one occasion I was visiting his factory and he shared some thoughts. He told me that since the Federal Reserve started creating mini depressions I could count on recurring booms and busts in the economy and should plan accordingly. As I look back on his business I see exactly how he followed this advice.

While the economy was booming he saved cash and when the economy took a down-turn he would get a great price on new equipment and a new building. This happened every time!!! It amazed me; others would be acting like Chicken Little saying "the economy will never recover this time" or "it could take 10 years to pull out of this one" but Uncle Charlie just kept on building right through the seeming worst of times. His business grew larger and better every time.

Uncle Charlie was one of the most honest and decent persons I have ever known and this was a great factor in his success. When he said he would do something he did it. If a customer had an issue he solved it. He stood behind his work! Everyone knew they could count on him.

Uncle Charlie grew up during the great depression and watched as people were laid-off their jobs. He decided the only way to avoid such an occurrence in his life would be to own a business.
He reasoned that business might slow down but he would still have some customers needing work. He was right. There is always movement in the economy...ALWAYS. It NEVER stops completely!

What motivated Uncle Charlie?

Motivation involves two things; desire to better our situation and desire to reduce discomfort. Some call it simply greed or fear. I think that is too simplistic...base, really. The term greed is far too negative in my opinion. To call Uncle Charlie greedy because he wanted to provide a great service for his customers and a great legacy for his family would be very, very wrong.

He became quite wealthy in the process and that was a result of excellence in all his dealings. His was a win, win, win, win, win...always win for everyone who knew him. If you dealt with him you were getting a quality product at a fair price. If you worked for him you were getting a fair wage (above union rates!). Complete honesty is what you got from Uncle Charlie.

Uncle Charlie just like everyone had to wrestle with desire for more and fear of loss. He recounted stories of equipment breaking down, or workers being unreliable and leaving him responsible for large work orders. Through it all he rose to meet difficult situations.

Desire for more and fear; there is always a battle raging between these two motivations. Sometimes fear motivation wins out and people do NOTHING. Sometimes the desire for more wins out and great things are accomplished. If anything is to be accomplished one must forge ahead and do it.

If Uncle Charlie had focused on fear he might have said to himself "a machine could break down or an employee could quit or I could make a mistake" and if he had let that fear take over, his business might never have been started!

But, Uncle Charlie was the type of person who once he got the idea he was going to do something it was going to happen. Here is an example; sometime during the 1930s he went to university to study chemical engineering. At that time the only chemistry textbooks were from Germany and were written in German! So, Uncle Charlie learned German and passed chemistry!

Only three in his entire class accomplished this. Oh yes, his family did not have much so he worked his way through school. HE WORKED HARD!

Uncle Charlie believed that there is a solution for every problem. He loved devising methods for production. He loved creating new more efficient systems. He loved creating products for his customers. He loved his family and taught them well. I remember meeting a woman who had met one of Uncle Charlies' sons and she raved about what a real gentleman he was. That instruction came straight from the top. I don't mean Uncle Charlie. I mean THE ONE above him.

I learned much from Uncle Charlie and I hope I am properly sharing the advice of this great man.

Let me quickly recap:

1. There is a solution for every problem

2. Our boom and bust economy is artificially created by the actions of the Federal Reserve. Plan accordingly: save during the good times and get bargains which apply to the growth of your business during the downturns.

3. See the big picture and do not let an occasional glitch stop you.

4. Focus on a positive outcome because your goal is just like every part of life; the vast majority is positive with a little adversity thrown in to spice it up.

5. Be honest in all your dealings and stand behind your work.

6. Constantly strive to improve.

7. Let Love be your driving force...for your family, customers, employees. . .do your best to treat everyone right.

Looking back I realize Uncle Charlie had some major things figured out. He has left this world but his business continues to grow larger and better.

Larger and Better...seems a good goal to me!

I hope sharing a little about Uncle Charlie helps you on your way to success.
He has certainly helped me!

Lee Walters

http://www.online-business-builders.com

Article Source: http://EzineArticles.com/?expert=Lee_Walters

How to Get Rich Fast - Entrepreneurs Sell the Sizzle

2008-09-24T12:54:00.001-07:00

By Martin Thomas

In sales they tell us to sell the sizzle, the sizzle of the barbecue is what makes the sale. What is meant by that is that people make decisions based upon perceived benefits rather than concrete benefits. We buy things for what we perceive to be the enhancements and these are suggestions and not necessarily exact benefits.

To get rich fast an entrepreneur always looks for a demographic market base. That is a large group of people in the same "boat" with the same problems questions, concerns and issues about a particular problem that an entrepreneur can solve in the form of a product or service.

The bigger that market demographic is the larger the potential wealth. So not dissimilar to an oil company that hire a geographer to plot high potential sites for oil deposits. An entrepreneur can plot high potential markets by looking at needs and solutions of any particular idea.

Another way to get rich is to explore new ideas that are doing well that you can add a twist or unique improvement that would allow you to compete. This is typically done by looking at the advertising being done in any particular field and watching for new products that are doing repeat and long term advertising. This is a sure sign the company is selling their product well and you too can then get involved. This style of commando environmentalism is very efficient and has made vast fortunes for people. The reason being that being quick to spot a high selling new product or service and launching your own competitive version of it is easy to do because you can see where the target company is advertising and get insights about what they are doing even before you waste your own money experimenting with the audience.

If you would like to discover a verified list of Million Dollar Corporations offering you their products at 75% commission to you. Click the following link to learn how you will begin compounding your capital right now. click here to learn about the EasyCorporateMoney.com program Copyright Jack Reynolds - Syndicated with rights to reprint, the only condition is you MUST print this author resource box as part of the article. You may not alter the point size or edit in any way.

Article Source: http://EzineArticles.com/?expert=Martin_Thomas

10 Tips for Successful Startups

2008-09-18T14:24:00.002-07:00

By: David Byrd

It can be a very emotionally filled time when you venture out and start your own company. You will experience extreme highs and lows. There will be fear and second guessing, terror when you think things are falling apart, and excitement and joy as a fledgling idea transforms into an actual business – and it’s yours! No two startups are the same and yet they have many things in common. The following are some tips for success that will help you with any startup.

1. Only start a company to do something you have a passion for.
Make work something you enjoy?! Most think that work is just for money, and starting your own business is to make more money for yourself. Your new business will steal almost all of your time, patience, and attention in the first few years. If you don’t love what you’re doing, not only will it destroy your company, it will take you down too.

2. Plan for the worst, hope for the best.
It’s not pessimistic if you plan for the worst. You are not mentally preparing to fail or anything like that. You are being careful and dutiful when you ask questions like, “If I can’t sell enough product, what will we do?” Even before the beginning, you need to plan your exit strategy. How many losses can you sustain without permanently damaging yourself? When is too much money invested too much? It doesn’t have to be all bad. How much of percentage of shares are you willing to take. What is the minimum amount you will accept in a buyout? The point of planning the end at the beginning is that you are doing it when clear-headed and not steeped in the emotions of the time.

3. Use what you know.
It can be easy to justify big purchase of equipment, hardware, and software simply because that’s what businesses have, or you will need it eventually. Start your business using your three year old laptop, do the budgets in excel, manage the database in access. Stick with what you have, what you know, and what is familiar. You can always upgrade as needed later.

4. Can you be too good at raising money?
Getting a startup off the ground requires money, usually a lot of it. So raising money is an important skill to have. However, it cannot be the only reason for your company. For example, if you get a mass of investors involved in product with limited sales potential, regardless of what happens, your investors will want a return on their investment.

5. Watch the eggs; keep them out of one basket.
Especially when capitalizing on a niche market, limiting the scope of your business can be very damaging in the long run. Make sure that your company is not too dependent on one particular market. If that market isn’t robust enough to support your company, changes, or disappears, you may find that your company cannot change fast enough for its survival.

6. Beware the only preferred shareholder.
The two most common times to really need money are at the beginning of an enterprise and when expanding. Venture capitalists can get you that money, but tend to only want to invest in a company that is already worth a lot. When you get down to sign the paperwork to make them a shareholder and take their cash, make sure to read and understand the bit about “preferred shareholders.” You probably already know this means that the preferred shareholder (the VC) gets their money back first in cases of buyouts and such. After that, you and the other shareholders divide what money remains. This seems fair, but if your company is sold when its value is down, the VC will get all their money leaving little left over for you.

7. Don’t hire top managers too soon.
If you were a freelance manager, why would you want to work at this fledgling new company? You probably wouldn’t. Businesses that are attractive to managers are business with customers, cash flow, and recognition. Yours probably does not have little to any of those. Even if instincts tell you to get someone in the hot seat instead of you, ask yourself if this is really the best time. Try to wait for the moment when the business will pay for the manager, rather than getting a manager to make the business pay for itself.

8. Use a lawyer, but not too much!
There are many, many pitfalls in starting a business and a lot of them can be avoided with the selective use of a lawyer. There are many companies on the internet offering standard, boilerplate contracts and waivers that are a godsend to new business; saving them countless dollars that are needed elsewhere at the beginning. Shop around and find a business lawyer so you’ll have one when you really need it. Use the internet and take care of all the legal details you can, then call your lawyer to look it all over as a double check. It will be vastly less expensive that hiring him to do everything for you.

9. Unless it’s your product, don’t put a logo on it.
Money is the lifeblood of a startup. Its presence will make things happen while its absence will guarantee failure. Don’t spend money on frivolous things. A big case in point is putting your logo on shirts, not for sale, but to give to friends and customers. Yes, you are getting your name out there, but no, that little will not make a difference. Save your money for other parts of your business that truly need it.

10. Make it fun!
You have a passion for your business because it’s yours. Your employees may agree to some degree, but still a big part for them is their paycheck. To get the full potential out of your employees there are many management methods you could try, but most often the best one – for you and them – is to make it fun to come to work. Celebrate victories, birthdays, and Thursdays. Reward good sales, achievements, and people. Encourage ideas that make employees comfortable, happy, and productive. Guess what: you’ll have more fun too!

Article Directory: http://www.articlecube.com

Work at home business ideas to defeat inflation

2008-09-18T14:24:00.000-07:00

By: toddie44
Work at home business ideas

Work at home business ideas to defeat inflation

With unrelenting, inflation driving the cost of living through the roof, there are some weapons you could use to defeat inflation and possibly smile all the way to the bank - smart work at home business ideas. If your question is "WHAT ideas?" ... you shouldn't be surprised to know that the answers lie within you. Find those answers and you'll be well on your way to drive inflation away.

Before you leap online to search for home business ideas, there are some questions you need to ask yourself. What are your strengths and areas of interest! What can you really do well that most others cannot. What are the things you enjoy doing? What are you aiming for? If you think hard, there's no doubt you will find your answers. When you do, you will be making an intelligent start and choosing the ideal work at home business ideas will be easy.

Whatever may be your financial objectives, any well managed, home business can get you there and there are numerous online as well as offline business options that you may consider. Either way, a computer with an internet connection will be an invaluable tool to conduct your business and ensure its success. Your own website may, or may not be necessary, but this will depend on the nature of the business you wish to run. Here are some work at home business ideas that can make inflation a thing of the past, provided you put in a lot of time and effort and stay focused until you succeed.

Daycare service - This is a much in demand, service and one that should have many takers. Most working parents with infants or little children are always on the lookout for a professional and reliable daycare service. You could extend this service to include household pets and conduct the same either at your own home, or have members of your staff take care of children or pets at their own premises.

Custom greeting cards - This is proving to be an extremely profitable business idea today and many people have successfully established custom greeting card businesses and managing them efficiently from their homes. There are several greeting card design software, programs on the internet that you can download which can help you to design and print greeting cards at home.

Article writing - If writing is your forte, you'll find that article writing is one of the profitable work at home business ideas. As content is considered 'king' in websites, there is a consistent demand for good writers, given the limitless number of well established and new sites.

Meal service - If you are a stay at home mom who possesses all-round culinary skills and have a penchant for cooking, you can offer homemade meals to households in the vicinity, and if logistically possible, beyond. People are ever eager to have homemade meals and a meal service that caters to this demand can be extremely lucrative.

Work at home business ideas, are many, and if you choose one wisely and give it your all, there's every reason you will succeed. One big advantage of a work at home business is that there are no limits to what you can earn, and when the big bucks roll in, you'll have the ammunition to defeat inflation.

Article Directory: http://www.articlecube.com

How to Start an Internet Business

2008-09-01T03:53:00.000-07:00

By Tom Lindstrom

Wanting to work from home with an internet business is a great goal. Many companies operating today started with that same dream and found success. Some by trial and error and others due to planning and knowing how to start an internet business. In theory, there is no difference in starting an internet business than in starting any other type of business.

There is an old saying that goes if you fail to plan, you are planning to fail and that is true when starting a business. Having enough cash to last while you get the business up and running to pay the bills is one of the primary things that you need to consider. Not just for the business, as unless you maintain another source of income while starting a new one, you will also need living expenses.

A website will be the crux of your internet business and you can either build one yourself or pay someone to put together a quality site for you. It may not need to be earth-shattering with all the bells and whistles some sites are saturated with, but it does need to present a level of professionalism to agree with the presentation of the business you are offering.

If you are offering retail sales, then a secure shopping cart will be necessary and will need to be integrated into your website. Customers who cannot find a simple way to pay for purchases will simply become visitors.

Getting people to your site will be your next consideration because the phrase build it and they will come only applied to the baseball field in the movie. It will not work in business. Unless you are prepared with a large budget for advertising and marketing, you will have to look at alternative methods of letting the world know you are in business and ready to help them.

Marketing on a shoestring can be done, but you will need to be prepared to do a lot of things on your own.

By working from home you can usually establish your own hours and your own dress code, however a professional appearance will be mandated during the times you meet with customers or prospective clients. You will also have to have the motivation to get up and work from home even on those days you really do not feel like it, just as though you were working for someone else in their office. You have to show up in order to get your work done.If you are thinking of working from home, and you still have a full-time job, before walking away from it you may want to work from home on a part-time schedule to learn what it is going to take to solicit work and get it done on time once you get the contract. Depending on the type of work you do, if it involves having clients visit your home office, you will also have to consider the cost of liability insurance to protect you in the event of injury on your property.

Learn the best free home business marketing tips and discover how you can start and easily operate your own business from home.The Home Business Archive shows you how.Visit: http://www.tlmarketing.net

Why Do Some Businesses Fail?

2008-08-29T12:27:00.000-07:00

By Nancy Adler

Whether the business is a franchise, existing business or home business, there are absolutely things that happen (or do not happen) that cause business owners with the best of intentions to fail.

The most prominent reason a business fails is that the business quits before they allow themselves enough time for success. Anticipating immediate results in any business is a recipe for failure. Expecting immediate return on any investment is unrealistic and makes for an unhappy and unproductive business owner.

Under capitalization is a key factor in the downfall of any business. Beginning a business without sufficient capital to fund marketing, office space, and any other costs associated with beginning a business is similar to building a house without a foundation.

Lack of a business plan is simply not prudent. Make one and then keep a magnifying glass on the business. Measure everything and keeping a close eye on a day-to-day basis is crucial. Without measurement of the business, it is not possible to manage it effectively.

Not advertising or not promoting the business in the appropriate markets can be quite detrimental to any business. It is important to evaluate where the key market is for a business and focus on that. Re-evaluation of the current market trends as well as results from marketing efforts on an ongoing basis is crucial. It should be noted that some business owners have a difficult time with self promotion.

Quite often businesses that are not successful get bogged down with the details of the business itself. There is a measureable difference between motion and results. Being busy in a business does not make it successful.

To be a successful business owner requires long term vision for the business and focusing daily on results-oriented activities. Most importantly a business owner must have a determination to never give up.

Giving up is the only way a business can fail.

Nancy Adler is an Author, Inspired Coach and Mentor, and Business Owner in the Arenas of Personal Development and Business Development.

Nancy is changing lives worldwide with her Gambling On Life message. For a FREE copy of Nancy's latest e book - go to http://www.gamblingonlife.com

The Top 3 Reasons You're Still Not Rich Yet

2008-08-29T12:19:00.000-07:00

By Chad Reitsma

I can hear you shouting it already...It's a Pyramid Scheme! You'll get sucked in! This is a LIE! Ever heard of "One Bad Apple Spoils The Bunch" or "Misery Loves Company"? This can be applied perfectly to the Network/MLM Business, one bad apple along the way and all of sudden that's the first thing that comes to mind, you've already decided it won't work for you even though you never even tried. IF they're all pyramid schemes then how are they still in business paying out millions to their affiliates/distributors? MLM's are not on trial anymore, they are a PROVEN BUSINESS MODEL that can and will make you very, very wealthy, IF you don't give up after a month.

What I'm about to tell you is going to shake you up. Think about the current company you work for, grab a piece of paper and draw this as you read it. At the Top there is the President/Owner of the Company - PROBABLY YOUR BOSS Below him/her There is few Vice-Presidents Below each of them there are 5 or 6 Executives Below them Are some Managers And Finally... Below Them (and usually doing most of the work) are the employees. What does that look like to you? Great Scott, A PYRAMID! You've been in a pyramid scheme your whole working life and didn't even know it, only in this pyramid you're probably near the bottom. What I love about Network-Marketing is you're at the top!

#2 - You Think Running A Business Is Too Much Work
A friend of mine was telling me about his dad's business. It's a decal/sign company that makes custom graphics for Dirt-Bikes, ATVs, etc... He told me that his dad worked all the time and that he'd never start his own business because it was too much work. Obviously something is wrong here, he doesn't know how to leverage the power of others. When you have a business that can be easily duplicated you can teach others how to do the same thing you are doing, therby leveraging their efforts to make millions. You don't have to work as hard and you make more money.

It doesn't happen over night so most people give up before they've laid the proper foundation. Sadly, they sink back into corporate slavery periodically emerging to have a nice dinner at their favourite restaurant for some special occasion. BUSINESS IS EASY, They just didn't find the right one! My business allows me to work as much or as little as I want. I usually sleep in until 11, get up and make a nice breakfast, then hit the computer. I spend 2 or 3 hours e-mailing and talking to people on the phone about their current work/financial situation and helping them start their own business so they can KISS the 9-5 GOODBYE! I leverage their efforts by teaching them what I know, they do the same with others, the system works.

AND THE #1 REASON YOU'RE STILL NOT RICH IS.... You're Still An Employee! When you work for someone else you're making them rich, not you. You're trading your time for dollars and this basically amounts to living paycheck to paycheck, attempting to save what you can so you can have some sort of retirement someday when you're too old to do the things you wanted to do but didn't have the money. Freedom 55 be damned! I'm going to enjoy my life when I'm in my prime! STOP making someone else rich and START living YOUR DREAM.

If you help enough people achieve their dreams, you'll achieve yours.

Feel free to visit my website to see how I'm doing it: http://www.drinkactsuccess.net

Are Your Ideas Staying Ideas?

2008-08-18T14:25:00.000-07:00

By Regina Minger

A business colleague of mine is one typical entrepreneur. She has a lot of ideas all the time, ideas of what she could be offering to new clients, how to increase traffic on her website, what she could do as a unique marketing strategy, or how to get more clients in the door.

Often she starts several projects at the same time, thinking she can get them all done. She stays up late on weekdays, working on all activities at the same time -- but she can't finish them. Especially when also doing her regular work in her company, new ideas often don't get finished or get delayed until it becomes a chore to finish.

Entrepreneurs often have that skill, they have an idea, start it, then realize it takes far too much time and they either drop it or put it aside for a time where they can spend more time on it. Often, those ideas just stay ideas.

But what do you have to do in order to get those ideas into results? What's the secret of having a lot of great ideas and make them into a reality and turn them into a money machine? What are other successful entrepreneurs doing that seem to be able to fit it all in?

The secret is to have a plan - and finish one idea after the other, not all at the same time.

Are you an entrepreneur with great ideas but you struggle getting them done?

Having a plan makes thinks that much easier. Often, entrepreneurs don't take the time to create one though, for numerous reasons:

• they think of it as a taunting task to think of all the details up front - it's too much work
• it doesn't seem important at the time
• they believe in the saying "I have it all in my mind"
• there is not enough time to make a plan
• it worked out before without a plan
• they don't know how to plan

So how can one change their mindset and create a plan that works?

Here is why it is important to take the time to plan

• to know all the deadlines beforehand and communicate them to the contractors
• to be able to delegate and outsource effectively
• to create better and more consistent results
• better overview of the how you do things
• better coordination, more in control
• stay on track
• don't forget important details

How does this sound to you? Would you feel better if you knew what the next steps are in finishing the project and where you are at? Isn't it great to know well ahead if you have an important deadline and you need additional info or support to be able to meet it?

As mentioned above, a plan in writing is half the success. You don't have to guess the next step and your team knows exactly when you expect something to be done.

Support to create a plan for success

If you have trouble creating plans for your own project, outsource this to an expert. It'll be worth the effort to have a plan that works - because the results are so much better and the project is done much faster.

A business consultant or a project manager can help you map out your ideas so that it makes sense and takes a lot less effort to getting things done.

This article was written by Regina Minger, the Entrepreneur's Project Manager. She helps internet entrepreneurs outsource effectively, manages their projects and people and implements systems and guidelines so that the entrepreneurs can leverage its time to generate more revenue. Sign up to her newsletter on http://www.reginaminger.com and receive an interview Melanie Benson-Strick did with Regina Minger on mistakes an entrepreneur makes when launching a new program. You can use this article in your own documentation, website, ezine or newsletter, just add the company description and website to it.

The Money Making Stepping Stone

2008-08-15T10:30:00.000-07:00

By Scott L. Phelps

When contemplating any money making idea you need to consider what available assets you have that can help you achieve your goal. For instance if you have very little capital and very little available credit you may need to look at money making options that require only the tools or skills you already possess.

On the other hand if money isn't an issue some might wonder why you are looking at a moneymaking idea in the first place.

The old adage is true - in order to make money you must spend money. You spend money in things like equipment and marketing. Sometimes it's not money you spend, but time and persistence.

If you have to earn money before you can make money you might consider stepping back into those shoes most familiar to you. Find the skills and tools that can be used to make money and then leverage your moneymaking income to facilitate the start of another business in which you are interested.

Some people assume that if they can't start their idea because of financial issues they should simply give up on the notion.

Let's say you can buy into a franchise operation for $5,000. This is not a very expensive franchise when compared to many, but it may be completely outside the realm of financial possibility for you. However, you can develop a moneymaking business using what you already have and then save toward the goal of buying into the franchise.

If you have a full time job and can develop a moneymaking business on the side you can set aside all funds (minus taxes) or a portion of those funds to help pay for your primary dream. If you make $1,000 a month and you save half of that income you could be developing your franchise within a year.

Some call this wise planning or delayed gratification. I like to call it dream fulfillment.

It is easy to simply let the dream slide away because you either don't think you can come up with the money or that the money required is just too much. The truth is you can come up with the money, but you need to be creative in how to do that. You could take out a loan I suppose, and in some cases this might be a solid investment decision. However, you can also work to start your business debt free by putting moneymaking principles in place early and allowing those growing skills to make it possible for you to become part of a much larger business opportunity.

Don't be surprised if you find you like the low cost idea you came up with and determine to utilize that business idea to the exclusion of a franchise idea.

I've always maintained that homegrown ideas are much more powerful in their potential. The reason I believe this to be true is that it taps into something you are already gifted at doing and allows others to benefit from your expertise.

New ideas are a bit harder to master and there are no promises that you will find absolute fulfillment working on this idea. That being said, if you are sold on the idea of buying into a franchise do what you can to enter the agreement debt free.

Learn to Make Money Online and Make Money At Home at MakeMoneyFacts.com. Build A Website in minutes at BuildAGreatSite.

Get Paid to - Do Anything Online!

2008-08-15T09:33:00.001-07:00

By Kristi Ambrose

The internet is all about making money and learning which sites and processes work and which don't. This is pretty easy to do by asking around or by trial and error. In my opinion, trial and error is the best way to go because then you get the full experience yourself, then you can choose if a site is really legit or really works or doesn't work. A lot of the times when your online, people will say they don't like this or that site, but you never genuinely know if it's because they got screwed over or if it's because they got caught doing something they shouldn't have been doing. There are several different GPT type sites out there. For example, you can get paid to read, get paid to post, get paid to comment, get paid to blog, get paid to review, Here are a few small example was or programs:

GPTR - You can get paid to read your emails. This doesn't pay much however. But if your looking to make a few quick bucks for hosting or whatever else, go for it.

Get paid to post - People will actually pay you to post on their forums. They usually do this when a site is brand new and they are looking to make the site seem "active." It can be a really fun way to make money, but make sure you check the site out before you just jump into it because it may be about Health stuff and you may know nothing about health, and there are some things you just cant fake!

Get paid to comment - Owners on blogs and other websites will pay you to post comments on their entries or posts. Again this is all about seeming active. You can get paid several cents to several dollars per comment so make sure you ask lots of questions beforehand. The last thing you want to do is make a hundred comments and get paid $.10 right?

Get paid to blog - Sites like blogvertise will pay you to write product or company blogs. If you go on this site chances are you'll just get paid a couple dollars the first time. This is a way for the companies and businesses and for blogvertise to try you out. However, the more offers that you get from this site for more money you can make per block. Last week I did a blot of online gift baskets and I get paid for dollars for doing it. It was really easy it is really find and I get paid within a month. I know four dollars that's nothing, but it was a cool experiment to try and see if it worked or not. It did!

Get paid to review - There are several different sites you can visit online that will pay you to review websites. Here are just a few examples: DooYoo, PayPerPost, SoftwareJudge, and Review Stream. Most likely you will not get paid per review but rather CPM, which is cost per thousand.

Of course there are millions of other ways to make money online such as survey sites or fill out offer sites but I'll be honest I've tried several of these sites and none of them have worked out. So therefore I'm not going to recommend any to you. Depending on what you decide to choose to make money online. I wish you luck, I wish you success and make sure most importantly thing you check sites album for you join them to make sure that they are legit!

This author is a huge fan of Make Money Online

Five Reasons People Fail in Business

2008-08-08T08:27:00.000-07:00

Kimberly Bishop
Why do people fail when trying to start their own business? I have listed five reasons.

First, they have no plan.

Second, they put things off-procrastination.

Third, the learning curve.

Forth is their marketing approach, and

Fifth, support.

They have no plan. We think we want something. We see someone we know with successful business, it we see someone who we admire with one too. We think wouldn't that be great? I could be my own boss, set my own hours, because they have no plan, they don't realize how much work is involved. We all know the old saying: "Failure to plan is a plan to fail." Get yourself a good plan of action, make several plans, and then work the plans. Start with setting some goals. There are some great books out there to help with this. Do the exercises.

Second: Let us talk of procrastination. This is my game killer. "Oh, I'll do it tomorrow" and guess what many tomorrows roll around and you haven't done a thing. This is one nasty habit. You can have all the plans in the world, but nothing is going to happen until you actually work those plans. Somewhere in my library, is a copy of "Stop Procrastinating." My copy is more than 20 years old and well worth it.

How much is there to learn about running a business and making it successful?-Oy. A lot. Walk into your local Barnes and Nobles and you will see hundreds of books on business, check out your local college, and there are dozens of classes to take. Do a search on Google for business, and well.... You know literally thousands of hits. You stand there asking yourself now where do I begin? You will always be learning. Even a temporary setback is an opportunity to learn. Don't give up.

Fourth, marketing fiascoes- How many businesses do you know that are truly successful that can sell ice cubes to Eskimos? Now sell ice cubes in Miami on a hot summer day. You have to know your market, and you have to know your product. Another big problem, is advertising, where, when how, internet newspaper, both, how much to spend? Do you write your own ads? Or hire someone? And how do you know that the person you just hired has your best interests in mind? Another book... Guerilla Marketing or maybe one of Mark Joyner's "The Irresistible Offer.

This brings me to my last point. Support... I don't anyone is truly successful unless they have the support they need. I mean the support of your family, friends, and staff. If you have support, you can conquer the world. There are great books here too, from spiritual to well everything in between, but the best support comes from those that love you.

Peace, Kimberly

Kimberly Bishop is in Network Marketing, and is on "fire" for the candle business. she likes poetry, music, and the arts. she can be found at http://thebishopscandle.net To learn more about her, read her blog. http://www.myspace.com/thebishopscandle

Create Your Own Self-Brand For More Success

2008-08-06T07:32:00.000-07:00

Glory Borgeson

When I originally published this article, there was a picture next to it of three well-known name brand products. There was Tide laundry, Heinz ketchup, and Pepsi cola. Even though the pictures of the ketchup and cola bottles were small, you could still easily determine their brands from the colors of the packaging and the shapes of the bottles.

The managers who manage those brands at their respective companies have worked very hard over many years to make certain that you (in the U.S. and certain parts of the world) recognize these brands and, hopefully, purchase them. Even though the products might appear as tiny little pictures on your screen, it's likely that you could identify them very quickly because their managers have focused on getting their images into your mind for years.

Companies brand products all the time. So why not brand people?

In fact, famous people become brands: actors, professional athletes, and others define themselves using branding techniques, and then market their brand for success.

The fact is, if you don't brand yourself, someone else will, and it probably won't be the brand you want for yourself.

I've been studying personal branding for business for quite some time. I've put together a series of talks and a coaching program based on this topic.

Branding yourself is for executives, entrepreneurs, and those who aspire to be either. It's for corporate employees, business owners, solo-preneurs, and those in particular professions, such as medicine, law, and architecture. It will help you re-think where you have been, where you want to be, who you really are, how that fits into the marketplace, and how to market yourself for the rest of your career.

Branding yourself helps you think of more (and better) possibilities for yourself in your career or business, while remaining true to who you really are. This is not about creating a "fake you." It's about digging deeper to find more business possibilities that ring true to your authenticity.

This self-branding thing can get really involved: there are a lot of steps to discovering, creating, and marketing yourself as a brand successfully. To help you out, I've created a "Brand Yourself! Coaching Program". It is a self-paced coaching program you can purchase directly from Borgeson Consulting. I'm very excited about this program! Since it is self-paced, it is very affordable - less expensive than traditional coaching by telephone, and you complete it at your own pace.

The "Brand Yourself! Coaching Program" has 10 modules, taking you through each of the essential elements of personal branding. Call (630-653-0992) or e-mail (info@BorgesonConsulting.com) to find out more about it.

I also give a keynote speech, "Brand Yourself Without Getting Burned: Know the Secrets to Finding the Right Brand for You!" Contact Borgeson Consulting to find out more!

The most important thing you need to know about branding is this:

If you don't brand yourself, someone else will; and it probably won't be the brand you want!

Glory Borgeson is a business coach, author, and speaker, and the president of Borgeson Consulting, Inc. She works with two groups of people: Small business owners, to help them catapult their business to new levels of profit; and executives in the "honeymoon phase" of a new position (typically the first two years) to coach them to success. Top athletes have a coach; why not you?

E-mail us for a FREE copy of the "Brand Yourself! Special Report" (a $14.95 value). If you haven't pursued much about personal branding, this is the time to start! Send us an e-mail at info@borgesonconsulting.com and in the Subject type "Brand Yourself Special Report"!

Click here for Borgeson Consulting, Inc

This article was originally published in The Business Express, Borgeson's free monthly ezine. You may subscribe by clicking here: Ezine

Personal Branding - It's What Sets a Maverick Apart From the Herd

2008-08-06T07:27:00.000-07:00

Laura Patterson

To cattle ranchers in the old West, branding their cattle was one of the most important chores they had when raising a herd. Cattle was wealth and branding showed ownership, increasing the value of the rancher. Mavericks, or non-branded cattle, were liabilities -- they could cost the owner money, and worse yet, the owner could actually lose "market share" to other ranchers who might claim the unbranded cattle as their own.

Today's competitive business environment is no different, except that instead of branding cattle, one should brand his/herself. In this highly competitive, fast changing world, a new breed of worker is emerging. With the employment uncertainty in this economy, a growing number of people are defining their own jobs, creating their own projects and acting as entrepreneurs. According to the U.S. Bureau of Labor Statistics, 16.7 million Americans work in non-traditional work environments. These folks are the new mavericks (defined as someone who exhibits great independence in thought and action). Like the cowboys of the old west, they know that to thrive, either in a traditional or non-traditional work environment, they must have a clear understanding of their value and promise - their personal brand - and be able to communicate this personal brand to others. Understanding, controlling and managing their personal brand gives them a competitive advantage.

The notion of a brand isn't new. Companies have been branding themselves and their products and services for years. Essentially, a brand stands for a singular idea or concept that a company or product "owns" inside the mind of their customers and prospects. While a company or product brand is actually an intangible asset, it contributes to the value creation, or the expectations and worth that customers place on the company or product.

For people, a brand is also important because it is their unique blend of talents, strengths, skills and knowledge, which gives them an advantage in a competitive market. Similar to a product brand, a personal brand is a distinctive identity that allows any individual to stand out from the crowd and carries his/her guarantee or promise. A personal brand helps distinguish you from competition and helps determine which opportunities best fit into your long-term goals and life plans. For example, when you think of the Lone Ranger, you think of a mask, silver bullets and fighting the bad guys - that is his brand. In today's work environment, you may know someone who has branded his or herself as a heavy-lifting problem solver, or someone who is the go-to-person for key information. These people have learned how to create a personal brand and turn it into a life asset.

The personal branding process begins very much like the product branding process. The first step is to take stock of your attributes and assess how these attributes can provide benefit to others. This means you must know the needs, wants and challenges of your target market, so you can position yourself as the best solution. Some questions to ask that may help in your self-assessment process include:

•What are my key strengths?
•Who is my target market?
•What is the value created for potential customers of my brand?

Only after you have a clear understanding of your personal brand, can you begin to proactively market yourself by communicating your talents and how they can add value.
The second step is to create a 30-second statement to communicate to others your brand promise and where you fit into the market. To help construct this brand statement, follow this process which we call The Value Pyramid.

•List the most important characteristics of your personality, education, experience and cultural background. These are your "features."
•Next, list the benefits (to your employer, client, etc.) that these features provide.
•Taking the process further, write down rewards that occur as a result of the benefits.
•Select one idea that best encapsulates your value.
•Lastly, in a few sentences write your brand statement, using the Value Pyramid as your guide.

This statement should emphasize the unique value you provide, rather than what you do. For a maverick in the old west, it might be something like, "I'm known as the most dependable trail boss this side of the Pecos. I've been working cattle since I was knee high to a horse and know the Chisholm Trail like the back of my hand. I've driven cattle to Dodge City more than a half a dozen times and have yet to lose one steer."

Whether a free agent or seeking traditional employment, you need to be you own brand manager and not automatically assume that others know the value you can provide.

The final step for creating a personal brand is testing, which can be done through networking events. In the old west, the primary place to network was a card game at the local saloon. Today, networking is best conducted through industry, trade and professional organizations. These are great places to test your personal brand. First, by meeting and talking with members of these organizations, you can research the challenges of the target market. Second, networking events are a great place to test your 30-second statement to see if your personal brand resonates with the target market. Upon a successful test within a smaller environment, you can then rollout your personal brand to the larger target market, employing every strategy and tactic that demonstrates your value.

In the old west, mavericks carried six-shooters. Today, they carry cell phone and laptops. However, both then and now, mavericks understand that they are in charge of their own destiny in a competitive environment. Mavericks know that by creating and marketing their personal brand, they have a unique advantage over their competition.

Be Your Own Boss, Take Action

2008-08-04T23:40:00.000-07:00

Earl Stringer and Rachel Bishop

Are you truly tired of taking orders from someone else? You are not alone. The truth is that there are millions of people that really are. It seems like everyone who works under someone else would love to be able to say bye, bye to their under paying, dead end, 9 to 5 job. Unfortunately, the majority of workers that feel this way do absolutely nothing about it.

Why is that?

There are many reasons why people won't take the time to pursue their own dreams and financial goals. One reason is the fear of failure. Nobody wants to be the one to go against the grain by trying to obtain financial freedom, only to come up empty handed. Negative influences are another reason why potential entrepreneurs deter from the idea of being their own boss.

These influences could be friends, family or even co-workers that constantly remind you that where you are now is where you will remain for the next 25 to 30 years (assuming your job has a decent retirement plan). Hearing that on a regular basis can do some serious damage to ones self-esteem. The last but definitely not least reason is settling. Everyone would love to be able to do what they want when they want, be able to purchase what they want, when they want, without worrying if it will affect that months rent. Instead the average 9 to 5 worker just settles. They create their whole way of living around an unsatisfying check that is just getting them by.

Take Action!

To be completely honest, not one of the reasons stated above are reason enough not to lead the life that you desire and well deserve. Do not be afraid to take chances by following your true dreams, turn that daydream of yours into a reality. Feed off of that burning desire inside you to better the lives of your loved ones and you. Rid yourself of negative people and things that discourage you. Do not fall into that category of; Wow, that would be nice, but I can't get it. Do not hesitate in obtaining the knowledge and tools that you will need to help you get to where you want to be in your career as well as in your life. Keep these things in mind and you'll be well on your way to...

Becoming your own boss!

Earl Stringer & Rachel Bishop, Internet Marketing Entrepreneurs & Success Team. Check Out The Top Five Money-Making Programs Online at PlatinumReviewers, visit the website at http://www.platinumreviewers.com

For Even More Information on How To Make A Real Income Online; Check Out Earl & Rachel's Blog at http://www.realincomeonline.wordpress.com

Start a Solar Power Business

2008-08-04T23:37:00.000-07:00

John Peyton

Starting A Solar Power Installation Company is the perfect business to start. Factors such as rising energy prices and people wanting to take care of the environment have made this business a money maker. And, the government is offering tremendous incentives in many states to individuals looking to "Go Solar". You don't have to be an electrician or even an expert in this field to start a Solar Business. You will need to have some basic knowledge and also learn the proper licenses you will need.

There are a few items to consider when you are looking to start a Solar Power Installation Company. You will need to learn where to purchase the materials from, how to do the installations and what types of licensing is required. There are numerous outlets to purchase the materials both online and by contacting manufacturers directly. The installation process is somewhat difficult to learn, but by studying and talking to other individuals in the business, you can learn more about the process.

The licenses needed to start a Solar Power Company, vary from state to state. You will want to work with an electrician to make sure you don't have a problem when doing installations. The panels are easier to install on a new house or building although if you know what you are doing, they can be installed on an existing structure.

For more information about opening a Solar Power Installation Company, go to:

http://www.SolarPowerBusinessPlan.com

Best of luck to you in your endeavors.

Sincerely,

John Peyton
http://www.SolarPowerBusinessPlan.com

You Get What You Give Your Focus And Energy To

2008-08-04T23:23:00.000-07:00

David L Allred

You may agree with me or not on this one but what you have right now in life is what you have given your focus and energy to. The fact of the matter is, whether you believe it or not, it is true. The Law of Attraction and the subconscious mind have no favorites. They are governed by rules of operation. They don’t know fact or fiction. They only thrive on what they are fed. What are you feeding them?

But to get to the point, what are you giving your focus to? And then again, what do you receive in return? Take a step back and take a look at your life. What don’t you like about your life? Some common answers are debt, bad relationship, poor, bad job……whatever. Now, once you establish what you don’t like, you will get clear about what you do like and want more of. Use the contrast of the things that are coming into your life that you don’t want….. to think of the exact opposite, or what you do want. So, instead of debt, focus on financial freedom. Instead of a bad relationship, focus on what relationship you do want. Instead of putting your focus and energy on what you don’t want, ask yourself what you do want. Make a list and find the contrast in your life. For every negative, there is a positive.

When is comes to having success as an entrepreneur, many focus on the want of more money. Now what do you think you will get? More WANT! You will continue to want more money. Your subconscious only hears one thing. I want more…….. It leaves out the money part. When you tell a child, “Don’t hang on the door,” what do they hear? This plays into their subconscious? “Hang on the door!” Now, think of what you do want. “Get off the door,” or “close the door.” If I tell you, “Do not think of a huge snow storm,” what did you do? You thought of it, right? Your subconscious leaves the first part out.

Focus on having the money, or the success and you will attract it. It is up to you to figure out how to train your mind to do that. I am in the business of helping ambitious entrepreneurs to do exactly this: To train your mind in harmony with the Law of Attraction to attract more of what you want. Our first product is more or less the application to allow you to train your mind. It teaches you to apply the Law of Attraction.

We live in a time where information is invaluable. It is everywhere but priceless. The information that I teach others is along these lines. Information in my business equals FREEDOM, financially and personally. So, learn how to train your mind to get what you want, help others get what they want, and you will get what you want.

My name is David Allred and I have built my home based business to obtain an ultimate lifestyle of prosperity and abundance. If you are looking for a vehicle, I can teach you a business that can and will transform you life.

Writing a Mini Business Plan

2008-07-15T03:49:00.000-07:00

Jeff Hendrix

Writing a full business plan is a ton of work no doubt. If you are a student it could take 6 months or more to make a full plan. If you aren't seeking funding or don't want to create that full on business plan then what options do you have? I still think you should create a plan, just because it will be incredibly beneficial for your business, but there is a shortened business plan that you can create that will give insights into the industry and business you are looking to run without the time investment of a full plan. This shortened plan is known by many as a preliminary venture analysis. (called a PVA for short) A PVA give you the info needed to create a fairly quick decision on whether or not your business is feasible or if you have a smaller decision that needs to be made such as whether or not a new product line should be launched. A PVA is most comparable to the executive summary part of a full business plan. The big difference between the two is that to make a PVA you will spend a lot less time gathering information and researching. This means it will not have the same depth as an executive summary.

A PVA is quite useful to show to various organizations and to circulate around. It is sort of like a paper version of the Elevator pitch and there are several companies you can send PVA's too that review and circulate them so that you can hopefully find angel investors around the country. For business plan competitions with the right PVA's you can show them off to receive reviews or even funding if its good enough. By making a mini business plan you are saving yourself the time and effort needed to make a full on business plan but still have something concrete and real to show.

Want more information about starting and running a business? If the answer is yes than you need to check out our website at http://startyourowncompany.theinformationexperts.com It will show you how to run your own great company and be your own boss.

Should I Own a Job Or Own a Business?

2008-07-15T03:39:00.000-07:00

Jan Buske

After graduating from high school and/or college, most people start earning a living by trading hours for dollars (A JOB). Whether you work for a family member, friend or maybe a business, you work for a traditional "boss", have to be on the job certain hours, have to perform specifically as trained and basically have very little FREEDOM! Limitations rule and can make you feel like a lion in a cage.

However, this is the lot of most people in life forever because they don't have the necessary skills to employ themselves properly in operating their own business (or don't have the desire). Therefore, making more money in a traditional JOB is more attractive leaving their freedoms at a disadvantage.

There are other choices.

First of all you might OWN A JOB. What does that mean? A person who owns a JOB is one that is a free enterpriser that might own a home-based business. These are people who have their own businesses but simply sell a product. There are no other employees or business associates. It's a "one-man show" so to speak. And, if you are absent, probably no income will be coming in.

However, this choice might be less desirable than having a traditional JOB and trading hours for dollars. Why? Because you could be earning less although you may have more freedoms. You probably have more headaches, too, trying to wear all the "hats" of owning your own business like marketing, selling, administrative and even shipping, to name a few.

A better choice would be to OWN A BUSINESS. A business, by definition, means you employ other people in your business. And, it means if YOU stop showing up, your business will continue, survive and even thrive guaranteeing your income will continue.

The least expensive business (and the best) like this is a "network marketing" business. Emphasis is on "work". For an example, if a farmer plants a seed but he doesn't wait for it to produce, he can't expect to declare himself a millionaire. He must fertilize, irrigate, plan for all types of weather, etc. In other words, it takes WORK! And it takes time!

Same in network marketing. These days, there are many "get-rich quick" schemes on the internet, but face the truth. Surely you will agree there is no substitute for work and besides, network marketing is a "people" business and it takes time and effort to gain peoples' trust. It will be worth all the time and effort you expend, though, because many network marketing businesses have a very generous compensation plan and certainly provide freedom at your choosing!

"Hybrid" network marketing is the best of all worlds. This type of business has a job function (owning a business) attached to a pay plan. The focus is on making money first (and quickly) through a generous compensation plan and looking for other business builders along the way to build your own business. A network marketer is basically replicating himself and his business. This is called leverage and a very smart way to earn a huge income. Imagine the income if you duplicate yourself over and over in your business earning from each of these team members.

By building this type of business, you can enjoy all the "freedoms" you like: no time restraints, no ceiling on income, no boss, no relying on Social Security, etc. The sky is the limit.

Jan Buske is an avid internet marketer with a passion for teaching others to become 6-figure+ income earners. Training under well-known mentors/marketers, she "cuts through the chase" and focuses on outstanding product, lucrative compensation plan and the state-of-the art marketing system to build teams. You may learn more about Jan at: http://www.resortvacations-are-us.com

Why Small Business Entrepreneurs Need a Mentor

2008-07-12T06:05:00.000-07:00

A mentor is a must for the success of your small business. Do you have one as yet? A mentor is a person who has more entrepreneurial business experience that you and he or she is someone you learn to trust over a period of time.

However, you might be wondering why a small business mentor is important for the development of your business. After all, you have friends and family you trust and whose opinions you respect. The reason is that a mentor can guide and nudge you towards the right business direction.

If you are an entrepreneur and dream of running a highly successful business, you should go out and find a mentor immediately. It is definitely not easy to find a good mentor but they are out there waiting for a mentee who is willing to work hard to build a successful business. When I found my mentor (Charlie Schaivo), it made a world of difference to the way I approach my dental practice.

It made a huge difference to my success. He instilled confidence in me and taught me without even me knowing about it. So, when you find your mentor, you too will start having the successes that you have always wanted for your business.

Joe Capista

When you want a small business mentor, you should look for a few characteristics in him or her. It is important that you and your mentor share the same values; you should have a good rapport with your mentor; you should be always willing to listen to him or her even it is something you do not want to hear; your mentor should have goals lined up for you; and he or she should be willing to use their time and energy, assuming that you do not waste their time and yours.

The advantages of having a small business mentor is that he or she has already achieved what you want to; your mentor provides you this experience for free; and he or she expands your network by putting you in touch with other experienced people. All these advantages result in you having a highly successful business. There is absolutely no doubt that a mentor is essential for all small business entrepreneurs.

To find out more about creating a successful business go to http://www.joecapista.com to access the free eBook, Build a Multi-Million Dollar Business.

3 Qualities That Every Successful Entrepreneur Must Have!

2008-07-12T05:53:00.000-07:00

If you think being a successful entrepreneur is impossible -think again. Many have taken the leap to create a better life for themselves and their families. Because of the downturn in the economy, downsizing (by many once stable companies), and the high cost of living many are searching for alternative income. Hence the stampede to the home based business and the world of entrepreneurship. But what does it takes to be a successful entrepreneur? What qualities must a person have to be successful as an entrepreneur? It has been proven that successful entrepreneurs have:

1. The right Mindset

The right mindset is the key to being a successful entrepreneur. You must believe in your self and your abilities to get things done. It is so amazing how we always think other people can do it but we can't.

Remember to relax and look for help when you need it. I sure did. Understand that you are in business for you self but not by yourself. If your goal is to earn $2000 or $10,000 a week, believe it is possible. Anything some else can do you can do it to. You must believe that the good life is for you and that you deserve it. Otherwise you will sabotage your self if success comes to you.

2. The Marketing Passion

Successful entrepreneurs must be open-minded and embrace changes. They are never afraid to take a risk. They are savvy and understand the need to promote their product through effective mediums. Far too many entrepreneurs underestimate how important this is to the livelihood of their business. If you don't have prospects you don't have customers. If you don't nave customers you are not in business.

The call word for an entrepreneur is Promote, promote, promote. Because of all the new technology available for marketing the successful entrepreneur has just every thing needed to succeed. The internet is the largest marketing medium in the world and it is right at our fingertips.

3. The Right Mission

Successful entrepreneurs must have a reason for being successful. When the obstacles come, and they will you must have a strong "Yes" to continue on or you will say No and quit. Their must be meaning and passion in what you do or the path will feel empty.

Sir Winston Churchill had to give a speech and a commencement service of a military academy and he only said 9 words "Never Give Up, Never Give Up, Never Give Up" and walked of the stage. What was his message? Persistence! Persistent will be to a successful entrepreneur as carbon is to steel. When you have spent your last dollar and the next sales is not coming as planned you must persist, because your biggest break through is usually just after your biggest disappointments. Maybe you want to help starving people in Africa. Maybe you want to help hungry children around the world. Maybe you just want to have enough money to help those around you. What ever your mission is it must be big and beautiful. It must add meaning to your life.

Kenyatta Nairn

As you can see you can develop yourself into a successful entrepreneur if you have the right mindset, market yourself and product and have a mission for success. Remember "Nothing changes in your life until you do" I hope this helped!

If you need more help please visit the website below.

"Keep your dreams alive by taking action"

Kenyatta Nairn
Success Coach and Wealth Master Consultant
(206) -888-6320
"Helping average people to become millionaires"
http://www.cashfree.ws

Thinking of Entrepreneurship?

2008-06-16T12:34:00.001-07:00

Vandana_Makharia

Start up Experience?

Being part of a family where entreprenuership runs in blood, it has not been an impossible step to think of starting own company. Am already in process of finalising things in mind and then taking them into action. However as a starter myself, I have been through some tedious and brain racking task of concieving a Startup. So here's a brief 10 pointer experience sharing list! I hope its helpful.. be good and be an entrepreneuR!

1. Be sure of what you want to deliver in terms of service/product. Idea is to be sure first and then Just focus on that particular thing for atleast a predefined period of time before re-valuating the product.

2. Have a time line in mind. Bisect it into phases. For e.g. in terms of traget, say 300 units sold in first quarter, 700 by second etc. REVIEW.

3. Be very clear about your Revenue Model. Any sort of vagueness in this regard could lead to extreme pressure, stress and lack of focus at a later stage when other things would require a lot of your attention. You don't want to feel like being in a 'no clue' stage.

4. RESEARCH RESEARCH RESEARCH, this is a ground level need, this will make you realise if your product/service is worth it or not. Also Researching helps you gain lot of knowledge about the product you want to offer from a fresher point of view.

5. If possible, do an internship or brief job in the related sector. It will make you grab the basic frame work of 'the working model' for your business. Also this helps in lot of networking with similar stakeholders.

6. Study competitiors thoroughly

7. Talk to everybody with a mind and get feedback about the idea.

8. Internet is the most helpful resource you will ever find in todays world to enhance your knowledge and skills. So get a fast connection asap! Make it your best friend.

10. Don't give up, Persevere, Rome was not built in a day.

Written by Vandana M, worked with student organisations, real estate and Currently working with a friend in his startup business which you can check out at http://www.yomacha.com

2008-06-08T23:45:00.000-07:00

No Golden Rules for Success

There are no golden rules for success. If I knew what the rules were, I would be out there making the money. We have people who come through here and say, “Do this one thing...,” and you listen to them and think, “Maybe in some circumstances, but certainly not in all.” It’s a highly contingent world. There’s no one statement, or even a combination of them, about which we can say, “If you do this, even under these circumstances, you will be guaranteed an above-average return.” I just don’t think that’s true. There are certain cultural attributes, which we accept as reasonable, such as steadiness, for example, and not ignoring feedback (in fact, searching for feedback is useful – searching for it, accepting it, and changing in response to it, assuming you can validate it). That’s not a trivial task because sometimes feedback is false. It’s not even close to getting to the core of the issue.

A good consultant isn’t necessarily one who comes in and tells the entrepreneur what to do, as in, “Here are my nostrums – go forth and do these.” The good consultant is more one who shaves at the edges, saying, “Have you thought about...?” or “Don’t you think...?” The entrepreneur isn’t necessarily being directed; the entrepreneur is being provided a different kind of feedback. There’s more money to be made that way than there is in the ideological overhaul of the business based on a set of nostrums. I don’t think that works.

2008-06-04T13:21:00.000-07:00

FLEXIBILITY

There is always a trade-off between commitment and flexibility. The more uncertainty there is, the more flexible you want to be. However, it’s not clear that you make any more money. Flexibility is really a survival-oriented strategy more than a profitability-oriented strategy. They both take a lot of guts. The flexible manager will at some point have to stand up and be counted and put his or her money on the table and say, “I think the wheel is going to turn up red,” as opposed to putting money on both red and black – because you don’t make any money putting your money on red and black at the same time. You’re still alive, but you’re not making a whole lot of dough. I’m in favor of survival, so flexibility in uncertain times is absolutely required.

It’s absolutely essential to be flexible. If a company isn’t flexible, its market share will slowly erode. There’s no question about it. Even though the large company happens to be competing in the mature stage (which is typically when you see the large companies), they’re still engaged in severe competition for customer dollars. Rich D’Aveni at Dartmouth calls it “hyper competition,” which is a combination of an arms race in innovation and competing over a number of products and a number of markets simultaneously with many other companies. It’s highly uncertain in terms of innovations and value on the product side and also on the cost side, and it’s much more complex because you’re competing over so many different markets simultaneously. If you don’t have an entrepreneurial orientation in that kind of competition, you’re going to be wiped out. It’s a very tough road. Not only do you have to be entrepreneurial, but you’re not going to make much money at it. Here’s an instance where a lot of change is almost self-induced in order to maintain your market position if you’re a large company. You can count the number of large companies that have failed to re-stimulate a sense of entrepreneurship and have died. It’s a common problem. There is a clear need for that ongoing innovation.

2008-05-30T02:31:00.000-07:00

The Management Team

Skills and background are critically important in a management team; forget the personalities for the moment. Are the management’s skills appropriate for the problems the firm is currently facing? Very often that’s simply not the case. They don’t have a clue about how to compete in the markets that the firm is currently in. They may know quite a bit about competing in other types of markets, but that’s irrelevant. So matching the skills of management to competitive challenges is crucial.

Risk preferences are also important. In some situations, management needs to be more risk-seeking. It needs to be more willing to bet on the future of the market. It can demonstrate that by investing in capacity in order to generate a learning curve and then actually lose money while the firm is growing in order to generate volume, so that it can make a lot of money subsequently when its costs are much lower. If management doesn’t have that risk-seeking orientation and isn’t betting on the future of the market, it will lose to companies that do. However, sometimes management needs to be risk-averse and be much more careful about expanding capacity – as we know from the amount of dark fiber that’s sitting in the ground all over the world right now since there’s no demand to fill it with light. There are many telecom companies out there sitting on assets that are basically worthless until demand comes back.

Are the members of the management team lemmings rushing toward the cliff? Are they herd animals, or are they able to separate themselves from the herd? There are many companies in the late 90s and early part of this century who invested simply because it seemed to be a good idea at the time and everyone else was doing it. That turned out to be a bad idea. Those who sat on the sidelines were viewed as nuts. But now they’re looking pretty smart. So do the executives go with the crowd, or are they more their own people, so to speak? If they are their own people, going against the crowd, how well can they manage the expectations of investors? How much control do they have over the capital market in order to maintain the position of the company, even if they take a contrary view?

The Entrepreneurial Aspect of Technology Commercialization

2008-05-14T10:40:00.000-07:00

The concept of entrepreneurship is extremely broad. I try to separate several dimensions, or categorize it into three basic groups. The groups are small business, family business, and technology commercialization. Small business management is about a person starting or operating a business that is not intended to experience very rapid growth, but rather to provide products or services on a small scale. These are frequently also referred to as mom-and-pop operations. Certainly managing a mom-and-pop business involves entrepreneurship – there’s no doubt about that; it’s an entrepreneurial act. However, the kinds of problems that mom-and-pops face are very different from those of family businesses, where the organization is trying to employ family members and balance out (usually) a very large number of social and emotional issues. And both of those (small businesses and family businesses) are quite a bit different from a situation in which an entrepreneur is trying to take a raw technology and make a commercially viable new product or service that nobody’s ever seen before. So I try to separate entrepreneurship into those three broad categories and talk about them separately, because the issues involved are quite different.

My personal teaching and research emphasis is on technology commercialization. What I mean by that is taking fundamental, basic research done at research universities and converting it into viable products and services. So what I talk about to entrepreneurs is the process of taking what I think of as potential solutions to problems (that being the research that’s done in universities), and the actual problems themselves (problems that people face in their day-to-day lives, or problems that need resolution in one form or another), and bringing those two together. Very often problems exist, and solutions exist for those problems, but the people who have the problems don’t know any of the people who have the solutions. I look at this in a broad way as a knowledge management concern – bringing together people with problems and people with solutions and trying to find matches between those two. To me, that’s the key to the technology commercialization process, and it often leads to business start-ups. In my teaching, I talk about other things as well, such as the entrepreneurial drive, motivation, and so on, but because my primary emphasis is on technology commercialization, that’s my starting point and that’s the approach I take.

From there, I would usually discuss ways of sharing problems and solutions, and then about the fundamental business planning that goes behind a technology commercialization. Once you have a match between a problem and a solution, you would move more into the business planning arena. The business planning process poses questions about what costs are involved, and what resources are needed, and also considers the competition and markets and those things external to the start-up.

The planning process is very important, and tends to get a lot of coverage in teaching. However, at first blush, especially in technology commercialization projects, I try to get people not to worry too much about how big the market is and how much things cost, and all that. Those are problems to be resolved in the planning process, and you may well find out when you put the meat on your plan that there really isn’t very much there, and the idea isn’t really worth pursuing. But in this sort of open-ended problem and solution/resolution discussion, you don’t want to think about that yet. Too many good ideas are never developed because people don’t give them a chance, and don’t try hard enough to find solutions to the problems that commercialization presents.

WHAT YOU NEED TO KNOW AS AN ENTREPRENEUR

2008-05-05T04:57:00.000-07:00

ACCESSING RISK

The risk orientation of entrepreneurs varies. People often think that entrepreneurs have a predilection for exposing themselves to great dangers and hazards. That is not the case. Very often, they don’t think they’re really taking any unreasonable risks at all. They just have a certain clarity of thinking, and they see things that others don’t. So the kinds of risks they are taking are calculated.

As an entrepreneur, you should always be asking, “Is there a way of doing this more safely?” It is important to recognize that no matter how much you work on your business plan, there will always be unexpected twists and turns. Part of determining what is a reasonable risk involves asking the “what if” questions. You work through what could go wrong and then ask, “What can I do if these things happen? At what point should I decide to reassess or change course?” Then you look at the kinds of things that you can do to prepare for different scenarios. You may feel that there are certain bets you must make in order to succeed. But understanding the critical assumptions that you are making about your environment and your capabilities and how potential hazards can be avoided or controlled – that thought process is a calculating process. It doesn’t mean you have all the answers, but you do have a very well thought-out vision.

BUILDING LEARNING AND ADAPTATION SKILLS

In a world that’s constantly changing, the ultimate competitive advantage comes from superior learning and adaptation skills, which are the foundations of an entrepreneurial mindset. If your business can’t learn quickly and adapt to change effectively, then ultimately the successes it has achieved will plant the seeds for hubris and rigidity, which will sooner or later lead to its demise.

For large, established corporations, generally, it is harder to be flexible and to change. Over time, the system of routines and reinforcing processes that have played an important role in making the company successful often lead to organizational calcification and inertia. The core competencies and skills that provide the company with a unique competitive advantage can also lead managers to ignore important opportunities for innovation and renewal. Smaller companies in earlier stages of the life cycle generally find it easier to be entrepreneurial, but must be particularly careful in managing the process of growing into larger, more mature enterprises.

We live in a world that is increasingly more dynamic and turbulent, where technology is becoming more and more sophisticated and where the magnitude and pace of innovation and change have increased exponentially over the last few decades. There is good reason to believe that the future will be no different in this regard. Having an entrepreneurial mind-set will enable the senior management team to be more open to innovation and change, thereby enabling their business to be successful in a business world that will be dominated by the most flexible, creative, and nimble organizations.

Building the Team

To build and grow the business, you need someone at the helm who has good managerial and leadership skills. Before investing significant amounts of money in your business, venture capitalists and angels will look very carefully at whether or not the company will be run by somebody who has had operational experience managing a profit center. The closer the experience is to the business or the industry your company is in, the better. You need to have someone who heads the strategic marketing effort. You also need someone who understands the nitty-gritty of the operations, because you cannot execute properly if you do not understand the day-to-day details involved in running the business. The team has to have credibility not just in terms of what the individual members have done and what their individual credentials are, but also in terms of their ability to work well together as an effective team. There has to be a high level of shared commitment to a common vision and shared set of goals and a strong sense of fit, comfort, and enjoyment in working together. Having a team of senior managers that have faced adversity together and have even failed together can forge a high level of trust, inspiration, mindfulness, and ingenuity - traits that superior entrepreneurial teams possess.

The people you want on your team should be individuals who are willing to put some skin in the game, who are looking to build something, and who are willing to take necessary risks. You can attract the right people by exciting them. Someone who is only looking for financial compensation is probably not the right person to work in a start-up. Your team needs to feel as passionately as you do about the company’s products and prospects. Successful management teams are excited at the prospect of building something and of being part of an entrepreneurial effort. Commitment is very important. In return, you need to incite your employees so that they will share equitably in the results of success

Assessements for Entrepreneurs

2008-04-22T04:23:00.000-07:00

· Assessing the Opportunity

The first fundamental of entrepreneurship is opportunity recognition – understanding what it takes both to recognize an opportunity and to move from recognition toward assessing what is actually a good idea for a business. You need to realize that a viable business opportunity is not just about providing a product or service with better functions or more features than those that are currently available. You must understand the nature of the opportunity in terms of customer needs and market potential. This requires that you find concrete answers to a number of key questions. These are: Who and where are the potential customers? What needs of theirs are you addressing? What problem does your product solve for your customers, or what benefit to them does it provide? Has anyone else tried to fix the problem or address the need before, and if so, why didn’t they succeed? How will I reach my customers? How will I deliver the benefits my customers need or solve the problems they have? Is the market for my product or service large or rapidly growing? Is the size large enough or the growth strong enough to make this an economically viable business idea?

· Assessing the Competition

Understanding the basis for your competitive advantage is important to being successful. A product or service doesn’t necessarily have to be unique, but you have to think of yourself as providing a distinct set of benefits to customers. Even if it’s an advantage that won’t last forever, it has to last long enough to produce significant profits over the cost of your investments. So regarding the customer value proposition, you have to ask, “What benefits am I offering to the customer and what is the price? You also have to ask, “How do I compare on those dimensions to others who are providing similar services or products?” Good competitive analysis requires not just thinking about who your obvious rivals are, but about who else might provide a superior, albeit less traditional, way of satisfying your customers’ needs. It also requires thinking about what makes it difficult for others to copy your value proposition and what enables you to sustain your competitive advantage over a relatively long and rewarding period of time.

· Assessing Capabilities

Another basic ingredient of entrepreneurial success is a good understanding of the characteristics of successful individuals. You not only need cognitive skills that allow you to recognize worthwhile opportunities and take advantage of them, but also key personality traits of passion, commitment, and resilience. Do you have these characteristics? Do you know what it will take to be successful? You need to understand that the risks of new business failure are high; most start-ups do not succeed. You also need to be aware of your motivation – is your goal primarily financial wealth, or are you primarily interested in the personal fulfillment that you will achieve through your entrepreneurial journey?

Knowing the basics of financial and market planning and how to write a good business plan are important. You should consider getting help from people who have proven skills in these areas. You will need to be good at pitching your business plan in order to get funding support, so you need to develop those kinds of skills. If your business involves a new type of product, then you have to have a proof of concept. As soon as possible, you need to demonstrate some credibility in terms of what you have to offer – for example, securing an important customer or set of customers that will demonstrate that you have something valuable. That will allow you to get further financing to continue growing the business.

Finally, a key part of the company’s success will be based on the people factor, on leadership and team building. You need to recognize that a good grasp of organizational behavior issues and methods is at least as important as – if not more important than – a good grasp of financial and marketing issues and tools.

WHO IS AN ENTREPRENEUR?

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Before we can talk about who is an entrepreneur, we first need to understand what entrepreneurship is. Most older textbooks talk about the three production factors: land, capital and labor. Now, these don't always mean what we think they do. Land is more than just the real estate a business builds its factory or offices on. In economic terms, land is all the natural resources used in an enterprise, so this includes the ores and minerals mined from the ground and the native plants and animals.

It does not include the manmade or organized resources such as an orchard or a herd of cattle. These are examples of the second factor of production: capital. Even though most people think of money as capital, it's really the least important form of capital. In economic terms, capital is the human creations that produce wealth, such as a car used as a taxi, an oven used to bake food for sale, a furnace used to make steel, as well as the interest that money can earn.

The third factor is labor. This refers to all human endeavors that produce wealth, both physical and mental. Some people believe that it is the sole source of wealth, that labor alone creates value. Others believe that land is the only factor that creates wealth. Still others believe that capital is the key to wealth. But land, labor and capital have always been around, though widely unused or misused. What, then, has made these three factors of production work together to create wealth and improve people's lives?

The answer is the fourth factor of production: entrepreneurship. This is the ability to see what others who came before missed, to make connections between things that others had not, to get all three other factors to work together to create that which had not existed before. It is this insight, this creativity, that makes the other three factors productive.
Now, who is an entrepreneur? One example was a young man who was born in Bavaria in 1829 and emigrated in 1847 with his family to New York City, where his older brother opened a dry goods store (a store selling clothes, cloth, shoes, hats, almost anything but food). In 1853, he became a U.S. citizen and sailed to San Francisco to open a branch of his brother's store and become a supplier to the increasing number of miners following the discovery of gold at Sutter's Mill.

He was a good businessman and his store thrived. He was so trustworthy and successful that one of his customers, Jacob Davis of Reno, Nevada, came to him with an idea. Davis was a tailor, and his customers complained that their pants started to come apart in the same places over and over, the pockets and seams. He had developed a way to rivet these stress points and used a strong fabric often used for work clothes, serge. He thought it was a good idea but lacked the $68 it took to file a patent. The San Francisco merchant saw the possibilities and became Davis' partner, and their patent was granted on May 20, 1873.

The merchant had been born Loeb Strauss, but when he became a citizen in 1853, he changed it to Levi. Similarly, the pants he made were originally called "waist overalls," and it was not until about 1960 that they were popularly called jeans. Even though much of the company's early history was destroyed in the 1906 San Francisco Fire, May 20 is still celebrated by the company as the birthday of blue jeans.

Often the entrepreneur is not the person or persons who actually create the new good or service. Rather, he or she is the one who has the vision of how that idea can be turned into reality for the benefit of everyone. For example, Oliver Winchester was a successful shirt maker, but he bought the patents for the Henry lever-action repeating rifle. His faith in this invention, along with his efforts in marketing it, made it the most widely known rifle of its day and earned it the nickname of "The Gun That Won the West."
Does this mean that entrepreneurs aren't creative? Not at all! Quite the opposite, but theirs is a different kind of creativity. Often an inventor, an artist, a composer, a writer will know his or her area of interest but not know how to make others aware of their creations.

The entrepreneur's creativity finds ways for the ideas to enter the marketplace and be of benefit to all of society. Incidentally, entrepreneurs also reward those who came up with the new ideas in the first place, which encourages them to make more and better creations. People are much more likely to be creative and productive when they are promised a reward than when they are threatened with punishment if they don't create. This promise of a reward is called incentive, and incentives are possible only when there is profit.

The entrepreneur makes sure this situation happens, because when the others profit, so does the entrepreneur. He or she is no different from other members of society: The entrepreneur wants a comfortable life, and he or she realizes that the best way to do this is to get the cooperation of others. That is achieved by appealing to what motivates others, because people tend to do what's in their best interest. In a free market, no one can be forced to do anything against their interest, so the entrepreneur must motivate and organize for everyone's benefit.