Browsing: Entrepreneurship

The Most Important Business Question EVER For Entrepreneurs. Defining your business is the most important task all entrepreneurs need to do in order to succeed in their venture. Your business is not the product/service you offer. Your business is not the industry you are. That you sell dogs, is not your business; so do many others like you. That you make clothes, is not your business; so do many others like you. That you manage events, is not your business; so do many others like you.

Why New Year Resolutions Fail; The reason is this; New Year Resolutions are usually created with too much optimism that often makes the list overrated with unrealistic goals. Sooner or later, when the high spirit of the New Year begins to wear out, optimism begins to give way to reality. This is when you begin to lose faith in your overrated list of to-dos having realized that there’s just so much you can realistically accomplish.

Business Mastery: FAQs About Starting up A New Business. How to be your own boss. As the day goes by, more people are realizing that the allure of a secure employment is just a fantasy; one that is often short lived. The search for the next alternative which in most cases is entrepreneurship is growing rapidly.

The Anatomy Of Employment: Why Becoming Your Own Boss Is The Smartest Decision Of Your Life! There is nothing bad with being an employee per se. At some point or the other in our adult lives we would be engaged in some form of employment or the other. But here is the truth, a job or being employed is a transition. Meaning, it’s not the end, but only a means to an end.

There is an unusual way to marketing –the holistic way. To attain the significant level of success you desire in your business, marketing must be seen as one whole concept involving several key activities that must be carried out by everyone in your business beginning with you the entrepreneur. In other words, when it comes to marketing, no one is to be exempted!

All entrepreneurs create businesses.
But all entrepreneurs are not created equal.
Ever wondered what separates great entrepreneurs from mediocre ones? Ever wondered what makes entrepreneurs like Richard Branson of Virgin, Oprah Winfrey, Jeff Bezos of Amazon, Sam Walton of Wal-Mart, Tony Tsei of Zappos and the legendary Steve Jobs of Apple extra-ordinary?

Uncertainty, fear and doubt remind us that past successes are no guarantee for future ones. They remind us that what got us here may not take us there. They remind us of our imperfection as mortals. We are never above mistakes. We will never have it all figured out. We will always be subject to the laws of nature. We will always be at mercy of chance. Why? Because in life, there are no guarantees, period.

“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma, which is living with the result of other people’s thinking; don’t let the noise of other people’s opinion ground out your own inner voice and most important, have the courage to follow your heart and intuition, they somehow already know what you truly want to become, everything else is secondary!”
–Steve Jobs, 1955 – 2011

The simple question of ‘how is wealth created?’ is answered with another question; “how do you use your spare time?” If you’re serious about creating wealth, a good place to start is by answering the above question. Being wealthy begins with watching how you spend your spare time. Knowing how to create wealth begins with knowing how to spend your spare time. You cannot be wealthy if you are not spending your spare time on activities that create wealth. The answer to the question of whether you will be financially free [wealthy] or not; is found in the use of your spare time.

Entrepreneurs are nothing other than problem solvers for humanity. Their stock in trade is creatively thinking up solutions to the problems plaguing the world. This unusual burden is the essence of entrepreneurship. To successfully carry out this task, as entrepreneurs we must first understand fully the nature of what we are up against – problems.

Creativity is the essence of entrepreneurship. Meaning, an entrepreneur is nothing without creating. Products/services don’t fall from the sky like manna, they are created. And the one person that must bear the burden to create is no other than you the entrepreneur.

The entrepreneur’s journey is about unleashing the spirit of business within. It is about our lifelong quest as entrepreneurs of creatively coming up with unique and useful solutions to the problems plaguing humanity. It is about using your life to make an impact through your business. It is about you and the contributions you want to make through the business or businesses you establish. It is about finding and fulfilling your life’s purpose profitably. It is about making profits by making a difference [creating unique and useful solutions to humanity’s problems]. It is about using your life to build a SIGNIFICANT [extra-ordinary] business that fulfills your purpose here on earth profitably.

When it comes to competition, nothing differentiates better than results. All your marketing campaign, strategic planning and efficient activities will not compensate for a lack of result. Results are what you can point to, results are measurable, and results silence every doubt in the customer’s mind.

You’ve probably heard about the golden rule of life; “do unto others as you would have them do unto you.”
Well, here’s the thing, the golden rule of business is no different; “do unto others as you would have them do unto you.”

Disruptive market changes are ground breaking inventions or innovations that utterly redefine the nature [characteristics] and structure [organization] of a particular industry, niche, business or market. They are disruptive because of their enormous impact on the market; they create new trends in the marketplace. Examples are; social media, the internet, telecommunication, smart phones, iPod, etc.

For the majority of you who have gone into business nurturing only the juicy thoughts of being an entrepreneur, things are about to get very sour. I’m sorry, but there’s some really bad news I need to break to you; entrepreneurship as much as it’s celebrated also has a dark side. At least, I’ve been able to identify 8 of them Coming to terms with this dark side of entrepreneurship is what this unusual article is about.

BUSINESS GROWTH 101: How Entrepreneurs Are Unknowingly Killing Their Business Growth. I want to talk about the most important factor that determines either a low or high sales period of any business. That factor is YOU! You are the Driver of your business

Your business is like a car and you the owner is the driver. No matter how fast a car is manufactured to run, it can never go faster than the driver’s capacity to drive it.

You are dead if you’re just like the rest!
It’s just simple logic, why would anyone remember your business if there’s nothing remarkable about your business? There are a thousand and one competitions out there and people want to know what’s so unusual about your business that makes you different from all others. Especially at a time like this when the whole world is going through a financially constraining phase, people are more prudent with the way they spend. Meaning, getting money out of people’s pocket ain’t going to be as easy as it used to be.

All businesses are not created equal. Hence, there two kinds of businesses;

1. Good Companies: Business as Usual
These are companies whose customers simply TOLERATE them because they haven’t seen an alternative provider yet.

2. Great Companies: Business NOT as Usual

These are companies who don’t have customers but have fans that CELEBRATE rather than tolerate what the company does.

Entrepreneurship is a way of life that offers unlimited possibilities to those who truly believe in it and live by it. But at the same time, entrepreneurship is a way of life that can totally alter the course of your life if misunderstood. Entrepreneurship is not something you can fake your way through; you are either doing it right or not doing it right simple. There are no ways around it. To help you better make that choice, here are 7 Indicators of entrepreneurs who are headed for doom.