10 Reasons Why You’re Entrepreneurial

10 Reasons Why You're EntrepreneurialThe Journey of An Entrepreneur Can Be Tough And Often Misunderstood By Those That Choose A Different Path… No More Misunderstanding

Make no mistake, having your own business and becoming an entrepreneur requires effort and hard work, and I mean immense hard work at times! Even creating a small business start-up can be exhausting, but the end goal can make the journey well worth it.

Against all the odds, you still commit to putting everything you have towards making it work – your time, your visions, your finances and your beliefs, often doing this repeatedly. People around you will see you differently, question your behaviour including your closest group of friends and relatives. This why the journey can be a bumpy one to finding out how to become an entrepreneur how to start a small business and how to find a market to serve. Get a steady 9-5 job and arrive safely to your grave is the motto – but I will show you why this is simply not in your vocabulary:

1. You Believe You Have A Life To Live and It Must Be A Good One

Following the crowd, sailing along and settling for what passes your way, is a simple option for most, which can lead to a person ending up in places with no hope, being in a dead-end job that makes you feel cornered, and if lucky, living a mediocre life at best. These people often fantasize about the other side of the coin and how their life MIGHT be.

You on the other hand don’t fall sully to fascination, you are an entrepreneur first and entrepreneurial by nature which means you take action to discover what could be.

2. It Goes Deeper Than Just Being Employed – It’s Your Mission

It is not difficult to develop a life long occupation, people do this all the time. They find a job and make it their vocation for life continually living the rat race and trying to climb the crowded corporate ladder – this is standard – however, it is not standard to find their purpose in starting a business from thin air.

3. Achievement and Prosperity Defined Only by You

Is it: Your advanced position in society, power, wealth? Whatever it is, there is a chance that it is centered around the freedom and flexibility of being able to do whatever you want whenever you want and living a joyous life in a way that makes you feel complete in every way possible. That is one of your main reasons as an entrepreneur starting a business.

4. Not Fearful of Your Aspirations

You dream, you have entrepreneur business ideas, you imagine, you fall, you rise, you succeed – you embrace it all.

5. You Believe Entrepreneurship Is The Final Frontier

You hold a burning desire to explore the world of business and believe, through your entrepreneur business ideas, there are new revelations and opportunities to be uncovered.

6. People Said You Didn’t Have What It Takes

As a result, you wanted to show how wrong those people were. You began on this journey to prove them wrong but later were consumed with a stronger incentive, you couldn’t careless about what other people think any more, it became all about what you think and confirming to nobody but yourself that you are on the ball.

7. A Better Way of Living For You And Your Family

You believe the only and sure way to achieve this is by carrying the torch of self belief and to represent a certain standard to follow.

8. Your Desire Your Level Of Income To Only Be Limited By Your Flair and Expertise

Working a 9-5 job means one thing only, someone else determines how much you earn.

On the other hand, being an Entrepreneur, being self-employed, you determine how much you earn through how much work and time you put in.

9. “If They Can… “

Those of an Entrepreneurial spirit don’t believe people who have accomplished great things have super powers or some secret hidden advantage. You look at those that have achieved and think “If they can do it, so can I”.

10. You Just Want To Live A Life Fulfilled

You know that this can only happen if you give to others and could never happen if you spent your life giving to a company. In turn your life is well fulfilled from giving to others, and as a result you have provided for yourself in so many ways.

… and that is why you’re an Entrepreneur first by nature.

Entrepreneur Coaching

Entrepreneur CoachingWhen you don’t make a decision you forfeit control.

It’s weird. Many small business owners tell me that one of the main reasons they started their business was for control. They became an entrepreneur because they want control of their life. They were tired of answering to a boss. They want to do work that has meaning to them. They want flexibility in their schedule. They want to make their own decisions so that they can do what they want, when they want. They want to chart their own course and decide their own future.

They go on to tell me how excited they were when they first started because there were finally so many options. They could do it any way they wanted to.

You’re probably thinking, well that was the point, wasn’t it?

It’s shortly after they find themselves in that place of freedom things start to get strange.

I was speaking with a client of mine; he was incredibly frustrated because his business was not growing and he wasn’t finding any clients. His marketing and messaging were all over the place. He wasn’t enjoying himself or his business. He was concerned that what he was doing was not sustainable and he’d have to get a job.

I asked him what direction he wanted to go in, and he shared ten different ideas that all appealed to him. He wasn’t sure which made the most sense.

He had gone into his own business for control and yet, here he was in a position of power, in the exact spot he wanted to be in, and was unwilling to be his own boss, to take control, to do the very thing he wanted to do.

So what’s happening?

Starting your own business is very exciting. There is a tendency to want to jump in with both feet and throw caution to the wind. You want to charge full steam ahead.

It’s true that without a level of excitement and fearlessness nothing would ever get done and yet, at the same time, I have seen many small business owners left paralyzed, or floundering about trying to go in many directions at the same time.

You want to take control, you need to take control; and yet, taking control is scary. When you take control you have to say no to things. When you take control you commit to following a path. When you take control you risk being wrong. When you take control you expose yourself to criticism.

The funny thing about control is that until you take control, nothing will happen, well at least not what you want to happen.

Until you take control, there will be a void that someone, or something else, will fill.

Think about your potential clients. They are actively looking for help today. Until you decide how to reach them, what to sell them, and ask them to work with you, someone else will.

You will once again find yourself reacting to what other people are doing. You will find yourself trying to defend your decisions, or lack of decisions, to a boss. Only now it’s your friends, partners, spouses and, of course, yourself. Ultimately, you will find yourself out of business.

I will caution you about one thing. There are some things that you cannot control. There are some details best left to others and their expertise.

You went into business for control. Go ahead. Make a decision. Choose a path. The worst thing that will happen is that you will be wrong and if you are – well, take control once again and make a different decision.

How to Work Smarter Instead of Harder

Work Smarter“What we have to decide is what to do with the time that is given to us.”

Smart or Hard?

Hard work is important. Those who work hard and are consistent with their work are much more likely to achieve the things that they want.

However, working hard doesn’t necessarily mean that the work you are producing is of value and good quality. Other times working too hard may cause stress that leads to producing work that is of lower quality.

I believe that we must put more emphasis on working smarter. Let’s look at 5 ways on How to Work Smarter Instead of Harder.

Time. The first thing that you should be aware of is how you spend your time working. It’s a good idea to make a plan of what you will be working on, how you will carry out your work and also to decide how long you need to spend working on each task. This way you will learn how to use your time in a smart way so that you can reduce your working hours while being more productive.

Standards. Having standards are different that having goals. Standards mean that you have to obey to them because that is how your mind is conditioned. Setting higher standards mean that you are conditioning your mind to achieve things that you haven’t achieved before.

Reflect. A great way to monitor your work is to reflect on the goals that you have achieved and the ones that you fell short on. This way you can understand what works and what doesn’t, so next time you can set new goals applying the things that do work.

Distractions. Staying away from distractions will keep you focused while you are working. The main distractions to be aware of are smartphones, emails, social media and music. While working avoid these unless they are necessary in your work. Working without distractions is a great way to work smart and have more time in your day to do other things.

Downtime. Lastly, it is important to know that you shouldn’t work for long periods without giving yourself breaks. A nice routine is to work for 45 minutes with 10 minute breaks in-between. Furthermore, you should leave yourself time in the day to be enjoying the things you like to do and spending time with family and friends, after all that is more important than your work.

Remember to work smart alongside working hard. Use your time effectively and plan out your days. Create standards to achieve greater things. Reflect on your goals to find out what is working for you. Avoid distractions that use up your time and prevent you from working smart. And leave room for breaks to enjoy the things that you like to do.

Now that you’ve understood what it means to make better use of your time, you can apply this in any area of your life including your business.

Don’t Stop When You Are Tired Stop When You Are Finished

Don't Stop When You Are TiredWork ethic has lost some of its importance in the 21st century. If you ask must employees when they work they will respond with very specific parameters. A typical response might be that the work on weekdays only, Monday through Friday, weekends, or some combination and that they work for a specific time, such as nine to five, second shift, or a swing shift.

The benefit of being an employee is that you know exactly when, where, and how long to work. Once the limit is met you can stop working and let the business fend for itself.

This is the opposite work ethic required by the Entrepreneur. As an entrepreneur there will come a time when you get tired of working. Over a period of time the entrepreneur may even experience some burn-out. This will be especially true when the business is not going as successfully as planned.

The reality is that if you are going to be an entrepreneur it does not matter how exhausted you feel. It does not matter how many hours you worked today, or what time the clock says. If there is important work to be finished the entrepreneur must go beyond traditional quitting standards and get the work done.

One of the best strategies to improving work ethic is to do the hardest and most difficult tasks early in your work day. Most entrepreneurs are at the peak when first getting back to work. Entrepreneurs just can’t wait for the night to get over so that they can get back to doing something they truly enjoy.

Once the difficult and pressing tasks are completed then work on the items that have to be accomplished to keep the business open. Develop a checklist of things that have to be completed each day. Prioritize the list and then mark items off as they have been completed. Draw a line between all of the items that have to be finished today and those that could be finished if possible.

To be successful the entrepreneur must be dedicated to developing their work ethic. Sometimes this may mean “grunting” through dreaded or tedious tasks. It could mean always being the first in and last out of the office. A strong work ethic means never stopping until the important things are completed.

The moment you lose your work ethic is the moment your business fails. As long as you are able to keep plugging along, you will accomplish your goals.

Why My StartUp Won’t Work

StartUp Won't WorkThe ugly truth is that three out of four startups fail. Try being the one that doesn’t!

“But that won’t be me!” you’re saying to yourself. “My idea is brilliant! Everyone wants my product!”

Unfortunately, it takes a lot more than a great idea to launch a startup and much more to make it a successful one. There are thousands of would-be entrepreneurs out there with brilliant ideas that simply didn’t take because of funding issues, a bad marketing strategy, or any number of other reasons.

Here are seven likely reasons your big idea is currently on a fast track to the startup graveyard.

o My Business Model is borderline pathetic

A great product idea does not make a business model! If you can’t monetize your product while acquiring customers at a reasonable rate, you have no hope of scaling your product or establishing a revenue stream. Unless you are planning to run a charity organization, you’re not going to make it very far.

I get it, business models are boring. It’s a lot more fun to hit the ground running and turn your idea into a reality. But that doesn’t mean you can skip the important steps of market research, competitive analysis, and developing a monetization strategy. If you’re so negligent as to skip these important steps, you’re only leading yourself on a slow, painful journey toward startup death.

o I am a Know it All… Hmmm…

A mentor? Business advice? Who needs that! With all your brilliant ideas, you’ve got this covered. Instead of humbly seeking the wisdom of successful entrepreneurs who’ve gone before you, you’re reinventing the wheel all on your own.

Forget venture capitalists who want to guide your startup to a successful launch. They can keep their money – you don’t want them meddling in your business! After all, as a first time entrepreneur, you know everything there is to know about successfully launching a scalable startup. Right?

o No one will fund ME!

Any entrepreneur anywhere will tell you, it really does take money to make money. If you can’t find access to funding, whether through family and friends, an angel investor, or a business loan, you’re going to have a tough time getting your product to market.

o Did I Even Think About a Marketing Plan?

You’ve been so focused on developing your brilliant idea, you completely forgot to develop a go-to-market strategy. What will your sales process be? Who is your target market? How will you reach your customer with news about your product? Do you have any idea?

The old “if you build it, they will come” philosophy might work in baseball-but unless you’ve been hearing voices lately, you probably shouldn’t expect the same for your startup. No matter how great your idea may be, no one can buy your product if they don’t know it exists. If you want any hope of saving your startup from certain doom, you need to devise and implement a solid marketing plan to spread your company’s message and increase demand for your product.

o Customers hate ME!

Well, no they don’t. Not yet, at least. But that’s only because, as we just discussed, you don’t have any customers. But if you did magically discover some first-time customers, they would quickly be bad-mouthing you all over town, because your customer experience is absolutely atrocious!

Do you have a plan and a properly trained team in place to make sure your customers are happy? How will you deal with complaints? How will you back up the quality of your product? What will you do when things go wrong?

Oh, nothing is ever going to go wrong? Is that right? Keep dreaming…

If you put yourself in the position of delivering a bad first impression with your customers, you’ll never be able to recover. There’s almost nothing more dangerous to a new business than a bad customer review.

o I am Stubborn

The truth about the startup world is that things change constantly. You have an idea for a product, but the research tells you to go a different direction. You’re halfway through development, and then a competitor shows up out of the blue with a product exactly like yours. Few, if any, ideas make it to launch without several changes along the way.

If you can’t roll with the punches and adjust your business model when challenges come up or new information prevails, you’re doomed to live out your days talking the talk about your big idea that went absolutely nowhere.

o I am Running Out of Cash

The challenges above may have halted your startup’s progress, but this one will be the final nail in the coffin. In the startup game, like in Monopoly, running out of cash equals game over. You’re done!

But not for you, right? You’ve got this. With no set budget, you’ll keep the Dom Perignon flowing every night of the week. It’ll all work out, right? After all, you have a brilliant plan!

At some point, if you haven’t secured funding and don’t have a solid plan in place to get a revenue stream flowing, you’re going to run out of cash. Even the most frugal of ramen-eating, Grandpa’s garage-based startups needs cash to keep the lights on.

Inevitably, this will be the moment when your almost brilliant venture officially goes under. You’re out of money. The show can’t go on. You’ve failed.

If your startup is still on life support, stop and re-evaluate. Which of the areas above sounds most familiar? How could you turn around your strategy?

Figuring out why you were on your way to failure might just be your ticket to performing the miracle that turns your near-failure into a real deal StartUp Success!

Basic Tips When Starting an Event Planning Business

Event Planning BusinessIs your entrepreneurial spirit kicking in? Do you want to engage yourself in the events planning industry? If you are, then this post is definitely for you. We will give you a quick overview of what you need to consider should you want to make this your serious business.

Know your Target

You might think that being the ‘jack of all trades’ is a good idea when you are starting your own events planning business. While it is important to know a lot of things, it is also vital to have focus. You have to remember that there are different events. We have the celebrations, education, promotions to name a few. Each celebration calls for different planning. You must know which one would be your forte so you can do more research on that, making you stand out from the rest of events planning companies. Engage in a specific niche that you enjoy doing before extending your network to other type of occasions.

Make Your Business Legal

Secure the necessary permits required for your business to be able to release official receipts to your customers. Being a legal business also increases your credibility as a service company to your clients. Registering business also protects you and your clients as well.

Building Contacts

Quite frankly, building contacts is never easy. And we believe one should be able to invest a lot of time building network. You should start from your family and friends. Tell them that you are starting up a business and would appreciate if they could refer you to their friends. From there, you can build your own potential clients. Just make sure your services are always the best so you can get the best advertising out there – word of mouth.

Creating Portfolio

Now that you have clients, never forget to document your events. Always have your camera ready to take snapshots of even the littlest details. Create your social media accounts so you can have a wider reach. And of course, always ask for testimonial from your clients and politely ask if you could quote them on your pages. Have a media kit as well that can be easily distributed as flyers to extend your services to potential customers.

Get Certificates

It would also be great for your business to get certificates. This is going to look good and of course, big companies would be more comfortable in dealing with you. So while you can, get certified.

An event planning business is a big business and opportunity you can explore. With the right foot forward in starting the business, success is quite easy to achieve.

Non Profit Does Not Mean No Money

Non ProfitThere is a big misconception with first time business owners and entrepreneurs about non-profit businesses. Many first time business start-up owners think that they would rather start a for-profit over a non-profit because they want to make money. The thought is that they do not want to start a non-profit because they (incorrectly) think that non-profits cannot make money.

The fact is that there are more streams of revenue in a non-profit organization than a for-profit business. Although not all types of businesses are eligible for the non-profit tax-exempt status, there are some types of businesses that can easily be formed as a for-profit or non-profit. Perhaps the best example is a child day-care center. Regardless the type of business entity the child day care center can charge the same rates and fees for the same services. The staff can receive the same rate of pay and benefits. The same profits (surplus) can be gained.

In addition to generating the same revenue through the sale of products and services the 501c3 non-profit can receive tax-exempt donations from fund raising, in-kind donations of products and labor (volunteers), endowments, and grant funding. The 501c3 tax-exempt organizations are also exempt from paying federal income tax, federal unemployment taxes (FUIT), and in some states, sales tax.

Non-profit organizations can purchase capital assets such as property, buildings, and investments. Non-profit organizations can pay employees benefits, insurance, and retirement plans. Non-profits can pay for additional employee benefits and perks as long as they generate enough revenue to do so.

Non-profit organizations do have a limit as to the amount of revenue they can receive in a tax year. The limit is three times the amount of their estimated budget for that year. For example, if a non-profits budget was $500,000 for the next tax year they could legally generate up to $1.5 million before adjusting their budget and reporting.

A couple of examples of excellent non-profits and their ability to generate revenue are: the Girl Scouts of America (501c3) which sells cookies, and the NFL (National Football League, a 501c6) which is a kind of membership association of privately owned for-profit businesses.

These organizations generate hundreds of millions of dollars in revenue each year through their business efforts.

There is a special application process required to be submitted to the IRS for a business to become recognized as a 501c3 tax-exempt corporation. This application packet commonly consists of eight documents.

6 Reasons Why You Should Be Your Own Boss In Business

Your Own Boss In Business“There is only one success, to be able to spend your life in your own way. – Christopher Marley.”

Becoming your own boss means that you create your own business. You are going to have to take responsibility for your business and you have to be willing to take risks. That said, here are 6 reasons why you should be your own boss.

You pursue a purpose – Being your own boss means that you are able to decide what you want to do with your career and your life. If you were working for someone else, you are working for their purpose, which you may or may not agree with. However being self-employed will give you the opportunity to create a unique purpose that will contribute to other peoples’ lives.

You are passionate – Creating your own business means that you can use your interests and passions to your advantage. You will be able to build a business that resonates with the things that excite you and give you passion. You will wake up every day feeling excited to work because you enjoy it.

You create freedom and flexibility – Working for yourself will mean that you can choose the times in which you work, creating a flexible lifestyle. You can spend more time with friends and family. Depending on the type of business you own, such as an Internet Business, you are also able to work from different locations, giving you the ability to travel while you work.

You control your finances – Being employed for someone else means that you are given a pay check that may or may not satisfy you. Being self-employed means that you have the power to control how much you earn. It will certainly be a struggle at first when building your own business to earn a good income. However as time passes and you commit to your business, the financial benefits can be very satisfactory.

You are in charge – There is no one to tell you how to run your business. You make decisions, you manage employees and you take the responsibility. Imagine working for someone else your whole life, where they tell you what to do and how to do it. Being your own boss allows you to do things the way you like to do them.

You grow as a person – Building your own business will build your character over the years. Your self-esteem will develop due to the confidence of managing your own business. Your legacy will develop as you make a difference in the world and change people’s lives. You will grow in many ways that you couldn’t of if you were working for someone else.

Finally, becoming your own boss is not for everyone. Some people do not want to deal with the commitment and persistence involved in creating their own business. They would much rather prefer to choose the easy option and work for someone else.

“Entrepreneurship is living a few years of your life like most people won’t, so you can spend the rest of your life like most people can’t.”

5 Attitudes You Should Have When Starting Your Own Business

tarting Your Own BusinessNot every entrepreneur is the same. Some are born rich, some have university degrees, while others have none of these. Having a lot of money and a degree is not a requirement to be a successful business owner though. There are those who are not so wealthy and do not very impressive educational backgrounds that have succeeded as well. It’s just a matter of having these five characteristics. Make sure you develop these when starting your online business.

1. Thinks Clearly

You need a clear mind so you can absorb information about many different home business ideas. Learning as much as you can is a very important aspect of starting your own business. More so, you should avoid having a worry-filled mindset. If you always think about what can go wrong, then you can’t sleep well at night, and you can’t think clearly. Worrying too much will greatly affect your efficiency in managing your business.

2. Communicates Effectively

As a business owner, you should have good communication skills. You should be able to share your ideas to your clients and employees in ways that they will easily understand. Otherwise, how can you convince people to buy your products or to support your small business? If you can’t communicate well, you will miss a lot of opportunities to turn your online business ideas into reality. Business owners need to talk to people often. It’s part of their job to get clients, business partners, and many other activities that will help to grow the business. Thus, you really have to be a good communicator to succeed.

3. Pushes Himself / Herself

You can’t just rely on others to push you forward. Most of the time, you have to motivate yourself to keep going on the path towards success. Your friends and family are not always there, and more often than not, they’ll be less dependable when you’re facing challenges with your business. There could even be a few times where you’re all alone. Not everyone shares your vision and wants to realise your dream as much as you do. With that in mind, you should be able to keep pushing yourself forward without needing help from others.

4. Performs Consistently

Making your business take the “number 1” spot is hard, and keeping it on top is even harder. For this reason, consistency is your friend. If you are unwavering in carrying out your plans to grow your business, then you’ll most likely stay on that top spot for long. It doesn’t mean that because you’re now number one that you should slack off and give up. That’s not how business works. Anytime, someone else can dethrone you from the top rank. You should be committed to continue working hard for your business.

5. Really Wants to Succeed

Undeniably, the best way to succeed is still through passion. Having that burning desire to succeed in your home based business is a powerful thing that will drive you towards your goal of success. It doesn’t matter how many times you fail; you can always get up and move on. Keep your eyes on the prize and keep pressing on. Don’t be afraid about what others will tell you, and don’t mind them if they ridicule you. Just focus on your business, your vision for it, and what you want to achieve out of it!

If you have these five characteristics, then you are well on your way to be a smashing success! Your efforts will surely pay off soon. Keep the dream alive, and keep on going with your online business!

Why Understanding Timing Is Essential to Decision Making

Understanding TimingWe make decisions all the time. It is these decisions that shape our life and make us who we are. However, not all decisions carry the same weight. What cuisine do you want to eat for dinner? What courses do you want to take in school? What time do you want to go to the movies? It is easier to make these smaller decisions because if you make the wrong choice, there will not be as large of an impact. Choosing to eat Mexican food instead of Italian is not a very risky decision. As the risk increase though, people often avoid making a decision.

Making big decisions is difficult. What if you make the wrong one? That uncertainty or the risk of failure can be overwhelming.

Some people have developed their own process to weigh the risks and take action in a timely manner. Others often procrastinate. However, doing so will not solve the problem.

If you need help overcoming your decision-making plight, there are three steps that you can take to face the problem head-on.

  • Define the time frame
  • Become the expert
  • Access the impact

Why is timing so important?

With any decision that you make, the first step is to understand the time frame of the situation. When do you need to take action by? Set a deadline.

With smaller decisions, such as choosing where to go out for lunch, you have until lunchtime to choose. You cannot put off making the decision until 6:00 pm.

Same thing goes for more important decisions.

Why are you holding off on making a decision? Is it because you are waiting to receive information that may narrow down the choices or risk? If you are set to receive very specific details within a reasonable period, it may be okay to wait and let those details guide you

Be sure to weigh the pros and cons of postponing a decision though- will it just make matters more complicated? Sometimes, it is better to make decisions without that additional information, especially if you are waiting for trivial material on a time-sensitive problem.

Once you have properly understood the matter and weighed the consequences of the decision, push yourself to make definitive decisions by the deadline that you set in order to prevent future complications.

Yes, making decisions is difficult because no outcome is guaranteed but do not let that overwhelm you. Follow the three steps and slowly, you will develop your own method and become more decisive.