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Tips For Entrepreneur
As a man, you give money; as a business man, you need to
earn money for living and giving. When you say READY TO GO,
you must be materially and spiritually ready. It is not just
for fun, but for an adventure. You learn, you give, and you
earn.
In the United States, small business owners and entrepreneurs
are quickly becoming the dominant business players. Small
businesses create thousands of new jobs each year, while floundering
large companies lay off scores of people. Starting a new business
venture can be an exciting yet risky project. Our survival
tips elaborate the steps to take to ensure your business not
only survives but indeed thrives, especially in today's fluctuated
situation.
1. Decision Maker - "ARE YOU INSANE OR NONBRAINER?" Implement
your plans with total commitment without little resistance.
Don't give up even when the atmospheres appear frustrating
and when obstacles seem overwhelming. Starting your business
will instantly make you an outcast. People whom you love will
openly question your sanity. The anticipated competition will
be the least of your worries, you'll be fighting your friends
and family to get your business going, in addition to unloading
your fortunes in your bank accounts. People will sit and wait
expecting you to fail. Now that doesn't mean they don't love
you, but there's no way to prevent this, it just happens.
So be forewarned.
2. Devotion - "THE LOVE AFFAIR WITH PERSISTANCE." Your business
should be something that you love to do, it is this love that
will sustain you when the going gets tough. Also your business
will involve something with past experience. And it is the
love of your product or service that will make you effective
at selling it. Don't attempt to become an affiliate or sell
a product that you have not used or assessed for its merits.
At best you will be unable to answer legitimate concerns of
purchasers and the worse case scenario is that you will appear
to be a fraud. Now this does not discount the fact that the
only business idea that will ever succeed is one that fulfills
a need, preferably a *considerable* need. Therefore if no
one wants your product your business will never get off the
ground.
3. Dollars - "MAN! SWEET MONEY." Getting rich should NOT
be your PRIME motivating factor. Persons who have that mindset
will inevitably make short term decisions for immediate financial
gain at the expense of the long term health of their venture.
Well, no blame when the market and the economy look worsening.
You will also have a difficulty motivating employees who don't
stand to profit as much as you do. Invest all that you can
in your business, but be frugal with what you have at your
disposal. Please search the ways people used to save money.
Keep in mind that your business could either triple in size
or go belly up within six months. So it would REALLY be wise
to avoid that ten to fifteen year lease you've been considering.
If you are running an Internet based business you may even
dispense with expending money on office space. Several online
businesses are operated successfully from a spare room, or
basement, or a attic space.
4. Dedication but - "18 HOUR DAYS?" You will have to make
some adjustments to your life when starting up your business.
You'll need to work tirelessly just to keep up with the competition.
Twelve hour days and seven day work weeks are not uncommon
when an entrepreneur is striving to get a business off the
ground.
5. Doers - "THE BIG MISCONCEPTION." Perhaps the biggest misconception
about an idea for a new business is that the idea must be
unique. Chances are that almost any ideas you can think of
also occurred to others. When Einstein was developing his
theory of relativity, another scientist, Poincaré, formulated
a similar theory around the same time. History is full of
examples like these. It's not the idea which is important,
they are really a dime a dozen. What is important is the ability
to take the idea, implement it and build a successful it.
Alexander Fleming discovered penicillin by chance but never
developed it as a useful drug. TEN years later, two scientists
unearthed Fleming's *mold* , SAW ITS POTENTIAL, and started
treating patients in wartime England. This was a dramatic
medical advancement and saved thousands of lives. So don't
wait around trying to develop a unique IDEA. Instead you should
identify a Unique Selling Position (USP) in order to distinguish
your product from your competitors.
6. Critical Mass - "SIZE MATTERS." For online businesses
which operate from your basement or from a mobile home, it
certainly helps to look bigger than you really are. There's
a certain comfort in dealing with a business that seems established.
You should try to establish 24 hour customer service. Even
if it means answering the phone at your favorite watering
hole. Just try to get away from the background noise. Having
a separate business line is critical. Attempt to inform your
family that if the business line rings it should be answered
in a professional manner. You really don't want your loved
one picking up the line in the middle of closing a deal to
remind you to take out the garbage. Have a logo developed
for your business, there are several sites available that
will create a logo for you. Or find a student from a good
graphic design school to create one. Use your logo consistently,
on all your stationery, packaging and other corporate communications.
Take advantage of any local business incubators, these operations
offer affordable, flexible leases for start ups. They will
provide anything from office furniture and equipment to business
plans and high speed Internet access. Historically businesses
in an incubator stand significantly higher chances of surviving.
You can get free publicity for your business by contacting
local news media and selling your company as a human interest
story. There are many periodicals looking for businesses to
profile. Get your name on TV. We have all seen those morning
shows with live outside feeds. A poster board you hold up
in front of the camera may get you more publicity than a 30
second commercial. And finally, if you have a web site, ensure
you have the ability to process credit cards. Most Internet
transactions use credit cards to complete a purchase.
7. Caring and Consideration - "RELATIONSHIP MATTERS".
You should care your partners, your employees, and your customers,
and care their families too. They are the supporting force
of your business, otherwise, you will feel pain without their
support. You must not try to take advantage on them, it is
forbidden for a businessman to hurt this kind of relationship.
CONCLUSION. The preceding list just scratches the surface
of an entrepreneurs "to do list". The Internet is awash with
information and you can drown yourself in web sites, magazines
and secret membership sites, and still not learn anything.
Why? The Internet is a new and ever changing phenomenon. Advice
that seems fundamentally sound today can be completely wrong
the next day. However, you can learn from both the successes
and failures of others and be guided by their experiences.
Remember that no matter what you do, you will never achieve
much success unless you have happy customers, happy workers
and happy suppliers. That means you must have a company that
is perceived as friendly, especially in the area of customer
service.
Good luck!
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