What It Takes To be An Entrepreneur Series: Action
Many people have the professed desire to be their own boss, start their own business ecetera, ecetera...
Trouble is, how many people actually take the steps necessary to fulfill their professed desire?
A recent incident that actually happened brough this principle clearly into focus.
I was recently told by someone who is quite well informed on the local stock market to invest into a certain stock as its value was about to increase substantially. Being the skeptic that I was, I just asked a few questions about the stock and left it as that, making no comments nor commitment.
That conversation stuck to my mind and I monitored the stock and did a little reseach on it as well. During this monitoring period, the stock fell from $1.63 to about $1.56. By then, I was quite convinced on this stock due to the research that I had done but was only willing to buy when there was an uptrend which I waited for.
I shared my research with a good friend who had recently been hit quite badly on some stocks he was invested in. Due to his recent losses, my good friend ignored my advice.
When the stock started trending up, I went into it with a few thousand shares and now three weeks later, just got out of it with a very healthy 30% + profit.
So the moral of the story is:
Opportunities abound if only we are aware of them. But if we choose not to take action, then the opportunities will just go right by us.
If my friend had just studied the research I had done and taken action, he could have recouped some of his previous losses. Instead, he chose to focus on his losses and moan and groan about them and let a golden opportunity fly by him.
For some people, even if the proverbial golden goose was presented to them on a platter, they would still find something wrong with it. It could be something as simple as "How much is it going to cost to upkeep this golden goose?" or something as silly as this. For these people, they would never be able to see an opportunity if it hit them on the head because they are always focussed only on the negatives, whether real or imagined.
For others who see the opportunity and take the necessary action, the world will be their oyster and provide limitless opportunities for them.
So, the question is, which type are you?
If you really want to be an entrepreneur, you must take the action required and not just sit back and be passive.
As the saying goes, "You Snooze, You Loose!"
So, take action, be bold and be successful
Benjamin Seow is a longtime entrepreneur and an accomplished publisher. He and a group of friends have recently uncovered some long forgotten system to rake in truckloads of cash from your business. Check it out at=> http://www.EntrepreneurMillions.com
Solving the Million Dollar Mystery: 4 Steps To Create A Turn-Key Business
You're a smart, hardworking entrepreneur, and you're moving fast. You are highly educated in your field and your business is growing and getting busier each day. But somehow, you find yourself stuck. You're doing more tasks that take you away from your core business, you are working more and earning less. You need help. Wouldn't it be great if there was someone, anyone out there who could help you take away some of the daily tasks so you could focus on the things you really love?
At an International Franchising Symposium in London, Peter Holt made the bold statement to his audience of Franchisors that they needed to understand that their business would fail, and in fact all businesses are bound for failure. Needless to say, there were a few shocked faces in the crowd. He was making the point that it really is just a matter of the number of calendar flips before time strangles any business. It's a hard point to argue when you think that the Neanderthal Fortune 100 included Barney's Dinosaur Obedience School. Not a lot of money in that these days.
Find Me the Expert on This!
Many people who set up as consultants never make more than a minimal living. They get some clients who like them, but are so dependent on these few businesses that the resignation of a key contact can destroy their business for months ahead.
... in Pursuing the American Dream
This morning I woke up at 4:30 in the morning, as usual, poured myself a cup of coffee, as usual, and thought about what my son said to me yesterday evening. You see, he's 2 1/2 years old and talking quite well, for his age. When I came home from working all day I was greeted with the always joyous "daddy's home, daddy's home" but today, this greeting was followed by "daddy no you go to work!". It's amazing what a 2 year old can know and understand.
How You Can Earn $1000 A Week Part Time
About 6 years ago I started to notice that certain friends of mine had quit their jobs but continued to live very luxurious lifestyles - seemingly without doing very much. I thought they must just be using up their savings until I discovered they were all making a fantastic living by spending just a few hours a week doing something I had never heard of before - "financial spread betting".
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.
Franchises - Success and You
Many people believe owning a franchise will make them rich, financially secure, and provide the life of their dreams. True, franchises have an extremely high success rate, and a very high satisfaction rate among their owners. But is that success guaranteed when you purchase a franchise? NO!
Your Company Needs A Mission Statement; Make It Count
Does anyone remember that book "Built to Last" done y the Stanford class and professor? Well change that to "Built to Merge." My grandfather was personal friends with Bill Hewlett and David Packard and I bet they would not have wanted this merger with Compaq either. It is interesting that one night about 3 in the morning I was reading that book and decided to change or mission statement and focus on the things that meant the most to our team and our customers. I stayed up all night writing that mission statement to make sure it was in line with the books comments on what it takes to make and keep a company great. This was about 5 years ago when "Built to Last" was the talk of the business world and it was written up in many of the newspapers, and magazines I was reading at the time. WSJ, Financial Times, Investors Business Daily, The Economist, NY Times, etc. Even hit the best sellers list for a while, not bad for a business non-fiction book by a professor.
Judging Entrepreneurial Ideas
Most entrepreneurs constantly come up with new ideas. Whether they are working on another project, driving, or lying in bed, their minds are constantly churning out new products, services and ways of doing things. For these entrepreneurs, the startup challenge shifts from coming up with ideas to choosing which idea to execute.
Profile of Women Leaders
Leadership is based on two words, "pressure and support"and that the leadership is the power to influence people to move in a direction that you believe in your heart is a good direction for most people" (Fennell, 1999, p. 267). Adams and Yoder noted that "evidence from contemporary studies on sex-roles and leadership indicates that men and women, with similar education, career aspirations and training, have basically identical scores on measures of psychological masculinity and femininity." In other words, the traits we assume are important in good leadership can be found among people of both genders.
Entrepreneurial Emotions or It Seemed Like a Great Idea at the Time
It's your first business or the next Great Idea in your ongoing business, online or offline, it doesn't matter. The roller coaster ride is a theme and variations on the same experiences. First the exhilaration -- THIS idea, or THIS business is THE one. It'll put you on the map with lots of money in your bank account. It can't fail. It's just too good. Have you said this? More than once? I have, and several times during my life, with numerous businesses and varying levels of success.
Could a Book About Your Company be Worth $1.7 Billion? Building Value Through Publishing
"Berkshire Hathaway (NYSE: BRK.A) to purchase Clayton Homes for $12.50 in cash per share. Deal worth $1.7 Billion."
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.
Two Types of Business Plan Executive Summaries
Companies seeking capital often ask how long the Executive Summary of their business plan should be. The answer depends upon the use of the summary, mainly determining if 1) it precedes the full business plan, or 2) it will be used as a stand-alone document.
Independent Auto Detail Shop VS Biz Op or Franchise
Owning a detail shop can be an exciting and rewarding business indeed. Many times an owner of an independent Detailing Shop will wish to add those items he/she believes their customers want. Since an independent detail shop is not a franchise or affiliate they can try new things and do what ever they want. They use their knowledge of the industry, a little intuition and luck; it is a best guess issue. For an independent detailing shop entrepreneur; there is no proven business plan to go by, but the savvy operator who is in touch with their customers seldom has to face a shot in the dark.
Developing A Contract
As a service provider, the most important type of "boundary" you can set as a business owner involves those policies and procedures that govern how you interact with your clients. The more precise you can be about the services you provide, your fee structure, and what you expect from your clients, the smoother your work relationships will be. And the most effective way to make sure that each party involved understands these policies -- and that there is no confusion -- is to have each client read and sign a written contract.
Part-Time/In-Home Business - Low Expense and Low Risk
As a first time entrepreneur, there are a variety of franchises, dealerships, distributorships, and licensing opportunities available for purchase. Many of these you can start by working part-time from your home. In doing so, you save thousands of dollars in start up and operating costs, while at the same time reducing your overall risk.
5 Tips to Step Boldly into the World & Set Yourself Apart from Others
"Real champions believe in themselves even when no one else will!" Author Unknown
Starting Your Business: It All Boils Down To Making Money and Saving Money
Bootstrapping in the context of business start-ups refers to the use of creative financing approaches such as leveraging personal savings, credit-card debt, loans from friends and family, bartering, and other means to launch a business. Some business founders use bootstrapping because they have no other choice. Just about anyone who has approached a bank has learned that "only established businesses need apply." Bankers typically look for cash flow, assets, an established customer base, and a successful track record on the part of the business that is seeking a start-up loan. Obviously, this is a short list that is impossible to fulfill when you are just getting started.
The 7 Major Reasons Businesses Fail and How to Overcome Them
This year, over 800,000 of the approximately 2,000,000 start up businesses will fail!
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