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- An Ode To Entrepreneurialism
Here’s to the brave and the free who are represented in the entrepreneurial spirit…
To the ones who made something we dreamed of, but never dared try ourselves.
To the ones who endured the ridicule of others for the sake of their own dream then decided to share their ideas with the rest of the world.
To the ones who spent sleepless nights coming up with solutions instead of contemplating the sheer force of the problems they faced.
To the ones who never gave up when that was always the easiest option.
To the ones who could envision a day when there would be satisfied customers at the end of this leg of the journey.
To the ones who discovered there was a thin line between a foolish dream and common sense.
To the ones who didn’t care what others thought, only what they somehow knew to be true.
To the ones who refused to say “I told you so” even when they could have.
You, brave soldiers of entrepreneurialism, are heroes and destiny changers. You are doing what most cannot.
You see here are the valiant men and women who produce the goods, polish the ideas and sell the services that make our lives easier and more fulfilled. They have captured an elusive bug known as entrepreneurialism and it infected every aspect of their life view. They wish others understood, but they’ll walk the road to success alone if they need to.
These are the hearty souls who get distracted at lunch and figure out how to take the next step by simply doodling on a restaurant napkin – then frame it when the dream comes true.
These individuals may not care much for a dress code, standard work hours or common themes of success. They care more about taking the things they care most about in life and seeing where they can go when infused with the ability to dream. Often these individuals invite the rest of us mere mortals to come to their proverbial tent in the center of town for a delightful game of show and tell.
Entrepreneurs are leaders and they rarely follow. They march to the beat of a drummer only they can hear and the simple joy of following a dream make them kindred spirits with Caractacus Potts from Chitty Chitty Bang Bang, Professor Julius Kelp from The Nutty Professor or Professor Philip Brainard from Flubber.
Yes, they may appear to be absentminded at times, but these entrepreneurs have seen the future and they are mightily distracted on the way to getting there.
Entrepreneurs are the misunderstood and often made fun of, but there comes a point when their genius is evident to all. Don’t be surprised if they refuse to hold a grudge or point out how right they may have been.
They are probably still looking down the road and envisioning something that may well take them in a new direction.
Maybe you should invite yourself along.
To all these brave heroes of business: Thank you!
- An Entrepreneurial America
The growing trend in America is to create a business. Cottage industries are popping up everywhere. From franchise retailers to launching a new business Americans are center stage. Startups include service business, home business, coaching business, and craft business. It is part of the American way but it is also a constant reminder that across the country this is the only way to maximize your potential.
The corporate market place has lost some of its luster. For many years it was considered an attribute to work for a conventional business. It was a way to learn a skill and perhaps find some sort of economic security. The evolution of big business has changed the idea of being a part of a company to one of just being an employee that is expendable.
Inflation with rising interest rates could put a damper on job availability. One of the things that it will impact is wages. With the reluctance of employers to foot the whole health care costs of their employee, job benefits are not that enticing. The payoff of owning your own business is that the entrepreneur takes the starring role. The limits in opportunity in the business world are due to many factors that the employees have no control over.
Many people are opting to work from home. Home based businesses are on the rise. Small Mom and Pop business are expanding thanks to the World Wide Web. This current trend is good for everyone. Entrepreneurs contribute to the success of this country. Out of ambition or need, more than a million boomers every year are starting there own business. In the United States people 55 to 64 years old are the most likely to start here own business.
The Ewing Marion Kauffman Foundation in Kansas City, Missouri, a research and education center for entrepreneurs found in a single month in 2005 nearly 110,000 folks in the age range of 55 to 64 started a business. Older entrepreneurs have a huge advantage in wisdom and experience. The entrepreneur wants job freedom more than job security. They thrive on the adventure of relying on their ingenuity.
Another group of aspiring entrepreneurs are the millennial generation or the Generation Y. Many do it because they desire a better work-life balance. They are the leading edge of a trend toward entrepreneurship that is due in a large part to technology. The new view is work is a part of life but you do not live to work. When they start their own business they work long hours and harder than they planed. The operating forces for these entrepreneurs are the purposeful work, flexible hours and a chance for financial freedom.
A Pew Research Center poll of 2,003 Americans ages 18 and over pointed to the fact they were more satisfied with their flexible hours, proximity of work and home, job security, level of on-the-job stress and salary than other workers. Entrepreneurship is one of the most exciting ways to reach for the gold ring. This generation has seen the corporate culture loyalty to their employees. They realize that the corporate world is not going to look out for them. The entrepreneur spirit is alive and well in America and is expected to grow in the coming years.
- Advice For The Aspiring Female Entrepreneur
Women are as much a part of today’s business world as men. With many women choosing to begin their careers before having a family and children, or deciding to do both at the same time, one would think the playing field would start to even out a bit. But a cursory glance at the research shows this isn’t the case. The glass ceiling is still there in many instances, and the pressure to do more work for less pay is still very much prevalent in today’s corporate environment. For this reason and others, some women are choosing to go the small business route and become their own boss, where the ceiling is only as low as they make it. Here are a few things for the aspiring female entrepreneur to keep in mind before starting their own company.
The first important step toward successful business ownership is to surround yourself and speak to as many business professionals as possible. This includes a lawyer, who can assist you with the ins and outs of drafting up employee contracts, building contracts, and business deals. It also includes an accountant, who is essential to the successful development of any new business, and an integral part of any existing one. It might also be a wise idea to contact a business coach or simply someone who has been through the ringer already and come out the other wide with a successful business. This kind of expertise can be invaluable to anyone starting their own business. They can show you what pitfalls to avoid and where to go for the essential startup needs (such as where to get capital).
The second step is to determine what kind of business insurance you will require. This could be done either by extending your homeowner’s insurance to cover your business, or finding a separate policy by contacting an independent agent. Make sure you speak to some professionals in the field and do a bit of shopping before settling for an insurance policy. They are not all created equal.
Thirdly, you’ll need to decide whether you want to take on a partner or not. There are many prods and cons when it comes to creating a business partnership. It can provide you with additional startup capital, but it can also put your ideas at the mercy of another interested party. Still, if the party is intelligent and business savvy, you may benefit from their analysis.
After completing the above steps, you’ll want to create a business plan that details the mission, aims, and cost of your business for the first business year. This will not only aid you in running your business and making sure you stay on top of your goals, but it will be essential when seeking outside capital. Investors don’t typically invest out of the goodness of their hearts. They want to know they will be making something back. A business plan can show them just how they will be able to do this. With your business plan in hand, and the above steps completed, you will be well on your way toward successful business ownership.
- A Secret Technique that Entrepreneurs Can Use to Almost Guarantee Success!
If you were to walk up and ask successful and unsuccessful entrepreneurs what they did to succeed or fail, most of them would cite some mentor or lack of trait… Blame genetics or outside influence. But if you were to ask the exact same group if they used this secret, 99% of successful entrepreneurs would say yes – and almost all of the unsuccessful entrepreneurs would ask what you were talking about…
The secret to being a successful entrepreneur is very, very simple. It is called “Quantifiable Goals”. It might sound complicated, but when you have finished reading this article you will completely understand what it means – and why it is so important.
Let’s say, for example, that you walk into a room full of entrepreneurs, and ask them to state their goals. To state why they are ultimately in business for themselves. Most of them will respond something along the lines of time or money. But watch them puzzle when you ask them WHY they want to earn money or have that extra time. This is the most essential part of Quantifiable Goals. Any John Doe can say he wants to make money, but why? Is there something in particular he wants to buy? Something he wants to do with that time?
Once you establish WHY you want that extra time or money, you have just taken a big step towards success. You now have a goal. For example, you want that extra money to buy a house. Buying a house is your goal. Now comes the Quantifiable part.
How much are you going to spend on this house? $250,000? $1 million? You need to come up with a dollar amount or time amount, something of quantity, to properly set your goals. That way, once you earn that $250,000 or gain those 3 hours, you have essentially attained your goal.
But waking up one morning and deciding to earn $250,000 doesn’t make it happen. So how do you achieve your long-term Quantifiable Goal? By breaking it up into smaller, medium term quantifiable goals.
For the example we have been using, buying a house for $250,000, your medium-term goals would most likely be monetary. You could set goals to complete two projects that would each bring you $125,000, or even 10 projects that would bring you $25,000, or break it down even further.
But what good are these goals anyway? They are still difficult to achieve, and how do you know what to do to achieve these goals?
Well, you break each of your medium-term quantifiable goals into short term goals. For example, if you chose to get two projects with a price tag of $125,000 each, your first goal might be to think of what kinds of projects you can do that would bring that kind of money in for you. Your next goal would be to close the sale on such a project, and then to complete the project, and finally to collect payment. That way, each medium-term goal is broken down into manageable tasks.
At this point, you want to break everything down into a flow chart to help establish your goals. Put your life quantifiable goal at the top on its own piece of paper. Then, put each of your medium-term goals on their own paper in a horizontal line directly beneath your life goal. Then directly below each medium goal, fill a sheet with the short term goals that it will take to achieve each medium term goal.
This method will help you visualize what you are working towards, and how each step is necessary to achieve your dream.
Now you’ll want to check off each short term goal as you complete it, completing one sheet at a time. By doing this, you will be able to visually SEE your results progress quickly. Each time you complete a short-term goal, you are one step closer to completing a medium-term goal, which brings you one step closer to completing your life goal.
Now that you know the secret, what are you going to do about it? I suggest following the visualization techniques given, and build yourself a “life pyramid” on a wall that is visible while you are working. Glance at it every so often, and it will keep you on track. Reward yourself when you complete your goals – from the smallest achievement to completing the entire pyramid. It will most likely be the most positive experience in your life to see that pyramid completed – and the construction process of the pyramid itself will set you on the right path.
Problem: She tried to focus on two salons at one time that the real issue because she needed time management in order to get things done. Her business was not reflecting her entrepreneurship.
Solution: we set up a plan of action where she would focus her time on managing the managers we did was put a small ad looking for a manager/stylus it worked out great we found two great managers and chosen by me. I told her in the future clone the method I thought you she said she would apparently she did which is great I’m glad to hear you have for salons now keep focused on managing the managers. I actually gave her a call and she told me now she hardly works which is great. She was only netting 30% per location now she has managers for each location she’s netting 60% which is great to double the her income per location. Congratulations! We found a lot of leaky cash we converted about 90% of her equipment to energy efficient would save her almost $125 per month per location. We did a piggyback advertisement with a haircare product company in LA which worked out great. She boosted her clientele by 40%. And actually saved a additional $500 for not using printed ads in her local newspaper. Congratulation once again.
Cheryl was really having a hard time with her business she was doing everything great so she thought.
Problem: She was trying to establish yourself as a predominant player her niche market as a property manager.
Solution: We looked at all aspects of her business from marketing to Web design to search engine optimization to customer service and more by the time everything was said and done we made her business grow by 17% within the first month and implemented cost-cutting measures that she did not need we saved her almost $700 a month which she can put towards marketing Congratulations Cheryl. The journey is only beginning.
Problem: Suzanne has a really nice upscale boutique but the problem her product was in selling. She did marketing in print.
Solution: we sat down and talked about what her flaws are I’m glad she took it serious everybody has flaws even me. You’ve got to take a critical self look and not say was not my fault I’m doing everything perfect. She gradually opens up to the idea that some of her business methods were not working. Her price target for her jewelry was too low. Psychologically people assume when they see a cheap price as bad quality which is not always true so we had to find a proper price range for her jewelry and we did awesome. She was really adamant about print media. But come to find out her niche market wasn’t there. So me and my staff set her up with a Google place with keyword integration that helped about 11%. The other 9% came from visual marketing in the store and product placement. With everything said and done. We found quite a few leaky cash one was ordering products one at a time which now she saves on that alone $100 or more a month. She has a lot of lighting in your boutique all the bulbs were not energy-efficient we saved your on this almost $27 a month. She would not utilizing all for space so I gave her to sublease it for $250 a month to a fashion consultant which was a win-win situation. Because the fashion consultant would bring in clientele then actually by her products. And that meant less marketing in printed media would work out great.
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