Starting Up and Keeping Going
So you had that fantastic business idea, the one that'sgoing to be wildly successful and make you a fortune - andeven better, you actually did something about it and startedyour own business. Good for you! Not everyone gets eventhat far. Most people sit and day dream about what theymight do if only ....
"The world is full of dreamers, there aren't enough who willmove ahead and begin to take concrete steps to actualizetheir vision" - W. Clement Stone
But you got over the biggest hurdle, you took that firststep and you actually created something.
Well done - you already did more than most. But once you'vegot started and you've maybe lost that first flush ofenthusiasm with the day to day details of running yourbusiness how do you keep going?
There are several things to look at here:
1. What are you really good at and what do you enjoy doing?Make two lists - one of all the jobs you like and/or aregood at, and one of all the jobs you hate and/or reallydon't do very well. Take the second list and have a look atwhat you might outsource or automate. Do you really lovedoing those accounts or would your time be better spent inforward planning while your accountant does the sums? Mustyou personally reply to every last enquiry or could youcreate a FAQ which you can post on your website and referpeople to by autoresponder? Obviously in the early stagesof your business you might find you don't have the money topay someone to do the jobs you hate but you've got to thinkabout what is best for you and your business long term. Becreative - could you swap skills to get the help you need? The more routine jobs you can outsource or automate the moretime you have to plan and to market your business, and tothink about even more ways to bring in all that lovely cash- not to mention you get to spend more of your time doingthe things you really enjoy doing.
2. Why are you doing this? You really need to be motivatedto start a business and keep it going and the best way to dothis is to know what all that effort is for. What reallymoves you to get up in the morning and do what you need todo even when you don't really feel like it? Write yourreasons down and stick them on your wall. Even better findpictures of that house in the country, the Lamborghini orthat 'must have' holiday and put them where you can see themevery day.
3. How do you deal with those inevitable bumps in the road?Not everything you do will be perfect - sometimes thingsyou've tried will be a total disaster - but it's the way youreact to problems that matters. If you curl up in a balland give up at the first sign of failure you'd better not bein business. "Patience and perseverance have a magicaleffect before which difficulties disappear and obstaclesvanish." - John Quincy Adams. It's all about attitude.
4. Have a plan and stick to it as far as possible butalways be prepared to be flexible and open minded. Sometimes the most unexpected opportunities come up and youneed to be ready to seize them with both hands - as JoeVitale says 'Money likes speed'.
5. Get yourself a mentor - learn from someone who has doneit before. Having someone to bounce ideas off and someonewho can encourage you when things get tough is invaluable.
And most importantly, never let anyone put you down andnever be afraid of failure:
"It is not the critic who counts, not the man who points outhow the strong man stumbled, or where the doer of deedscould have done them better. The credit belongs to the manwho is actually in the arena; whose face is marred by dustand sweat and blood; who strives valiantly; who errs andcomes short again and again; who knows the greatenthusiasms, the great devotions, and spends himself in aworthy cause; who at the best, knows in the end the triumphof high achievement; and who, at worst, if he fails at leastfails while daring greatly, so that his place shall never bewith those cold and timid souls who know neither victory nordefeat" - Theodore Roosevelt.
Don't ever forget that!
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Business Start Up Tips From Some Hearty Entrepreneurs
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Seven Key Qualities of Successful Entrepreneurs
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Does A Franchise Meet Your Needs?
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Identifying the Right Venture Capital Firm Partner
Venture capital firms are comprised of individual partners. These partners make investment decisions and typically take a seat on each portfolio company's Board. Partners tend to invest in what they know, so finding a partner that has past work experience in your industry is very helpful. This relevant experience allows them to more fully understand your venture's value proposition and gives them confidence that they can add value, thus encouraging them to invest.
A Startup Never Closes
When it comes to a startup, the luxuries shared with established companies are few and far between. Chief among them is the luxury to close at the end of the day. Big companies have the benefits of capital, customers and receivables. Startups, on the other hand, have jack squat. They need to work twice as hard to make half as much, and even then they're not working nearly enough.
How Much Risk is Necessary to Grow Your Business?
A business owner is thoroughly responsible for their own financial survival and possibly the financial survival of their employees. Business owners, for the most part, seem to be "risk takers", who really don't easily "go with the flow". They are inventive and somewhat confident, as just having their own business does mandate that they possess these qualities.
Outcomes - Thats What You Need to Focus On
Successful business owners and managers need to be veryclear about what outcomes they want. Whether you call them goals, objectives or targets, theseare the factors that you're ultimately judged on. Outcomes determine whether your business is a success or afailure.
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What Makes an Entrepreneur?
Rupert Steiner in his book 'My First Break' attempted to define the secret of becoming an entrepreneur and following interviews with over one hundred entrepreneurs, Steiner concluded that there was not one defined path. He has, however, drawn out observations of an entrepreneur's personality traits. They have a tendency to be rebels, outsiders, original thinkers, risk takers and break new ground. Entrepreneurs are always on the lookout for new business opportunities and have the guts it needs to start up a business. They have total commitment to what they are doing, which verges on obsession behaviour.
Can a Microbusiness Help You Enjoy a Better Retirement?
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Franchisor Sample Grand Opening Launch for New Franchised Outlets
It is paramount that all franchising companies work hard in the critical launching of all franchises in their new territories. In this present period most franchisees come into the franchise systems with much personal debt and barely squeak by on their initial capital needed. One major error or mistake and the franchisee will fail due to under capitalization. Below it a sample outline and message to new franchisees; I recommend that you take a look at this and develop a policy and plan to help your new franchisees in the beginning gain ground on their new markets. You should copy this article and make notes on it and then take the outline below modify it to fit your business model and write several paragraphs for each number and lettered item to cement your new franchised outlet marketing plan. While reading this policy and outline below realize that it was written for a mobile car wash business and your plan will be significantly different but this will help you in making a first class strategy to win market share for your newest team members.
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