Running a one-person business is a creative, flexible and challenging way to become your own boss and chart your own future. It is about creating a life, as it is about making a living. It takes courage, determination and foresight to decide to become an entrepreneur. From the relatively safe cocoon of the corporate world, where paychecks arrive regularly, you will be venturing into the unchartered territories of business.
Is there a way to determine whether you can be a successful entrepreneur, or you are better off to work for somebody else? Alas, there is no formula for success. However, most successful entrepreneurs share these ten characteristics. Check if you possess any one of them:
1. Think success. To attain the kind of success that you want, you need to dream big. Every success story starts with big dreams. You need to have big dreams for yourself – which you want to be somebody rich, famous or fulfilled. You need to have a clear vision of what you want to achieve. But it doesn’t stop in dreaming
Starting and running your own business can be exciting and rewarding, but it can also be very stressful. For most of our almost 40 year marriage my husband has been an entrepreneur and I have sometimes worked with him. Having built my own business as a Stress Reduction Coach I have been reflecting on the stresses of being an entrepreneur.
Signs and sources of stress
Some of the signs of stress overload include irritability, anxiety about the sustainability of the business, and/or high business debt. Relationships within the family can suffer if they do not understand the entrepreneurial drive or the time and effort it takes to start and run a business. For women entrepreneurs, the job of running the household and balancing work and home can create enormous stressors. When you work from home, all the household tasks that need to be done can pull you away from your business. People who are drawn to be entrepreneurs are sometimes idea people who don’t like detail and repetitive tasks. Having to work on those
Want to know why certain people succeed and others don’t. Well successful people have certain traits? Do you have them?
Business has changed a great deal over the years. We now have computers, the internet and because of the internet – web pages, email and everything else that comes with it. Our telephone system has changed dramatically with the advent of cell phones and voice mail. However, even with all the technological advancements the traits that make a person successful in business can be traced way back when to our grandfather’s day. So before you decide you want to go into business for yourself, check and see if these traits are part of your make up.
Are you a person who sets goals? Most successful people have always set goals. They started at a very early age. They might have set the goal to be the best in a certain sport, or in a specific subject in school. Or if they wanted something, and knew that their parents couldn’t afford it, or wouldn’t spend the money for something,
Have you ever heard that only a small part (5%) of ‘all’ Home-Based Business entrepreneurs achieve success?
Do an online research on your favorite Search Engine
and you will understand what I mean.
In this article I’m going to show you the KEY to Home-Based
Business entrepreneurs success; you’ll find out what makes an
entrepreneur successful in the home-based business field.
Below are 5 TIPS for Home-Based Business Entrepreneurs:
1. It’s their mindset that brings success
Serious entrepreneurs have ‘programmed’ their mind to succeed no matter what. They don’t lack focus on their home-based
business and let nobody stop their plans in achieving what
They know what they want and they have the DESIRE to succeed. If you don’t know exactly what you want when it comes your
home-based business, think about it again and re-consider your
plans, what you want to achieve, a get-rick-quick or a
profitable, long term business.
2. It’s their start-up plan that brings success
Smart entrepreneurs know that it takes time to set-up
A number of economic changes are magnifying the role of small business and creating the impetus for entrepreneurship.
In the past, many people perceived small business owners as shopkeepers – the mom ‘n pop shops. Today, with a status boost, they’re entrepreneurs, and perceived to be on the leading edge.
But is now the right time to step up to the plate and take a swing at starting a small business? In the audio book, “Sound Advice on Small Business,” author Jim Schell points to a number of economic changes creating momentum for entrepreneurs.
Continued downsizing in the Fortune 500 sector is one change, as corporate CEOs strive to keep earnings up to stock market expectations. “The corporate rat race has become more stressful to its inhabitants, and more tenuous,” says Schell. “Today’s Enrons and Worldcoms haven’t done the image of the big guys any good, either.”
Job creation is another economic change. “Corporate and government downsizing, combined with an influx of trained and motivated entrepreneurs is resulting in the
The definition of a startup means you have very few resources to employ and little time to get them to do something valuable. The clock is always ticking, and the money (if you even have any) is running out by the day. With so little to leverage, you need to make sure that the focus of your company’s product offer is as razor sharp as possible.
Don’t be all you can be. Be as little as you can be.
Most startup companies fail because they try to be too many things to too many people right from the onset. They think of every possible option they could load into their product offer. While this may give them the feeling of being one of the âbig boys,â the grim reality is they are not. In fact by trying to be too many things from the start, these companies often end up delivering no real value at all.
Instead of trying to be all things to all people, try being one thing to all
Would you like to find the key that unlocks the door to a gold-mine of online response, sales and
results for your business?
It seems obvious that you would be able to see what the experts do differently when locating market opportunities, finding out what people want and quickly turning that into an online business generating
truckloads of cash.
The reality is YOU CAN’T!
While the secret is massive in it’s impact, it is so subtle – so subtle that you are sure to miss it if you
don’t know what to look for. Here’s the secret and a formula for using it right this minute!
What is DESIRE?!
Now stay with me for just a minute.
Think about the last time you bought a magazine? Why
did you buy it? Was it to look better, fee better,
make money, save money, make your house look better,
take a step toward achieving a dream in your life?
How about the last time you purchased an ebook about
marketing? It wasn’t
To be or not to be an entrepreneur!
Get a mirror, take this quiz, and find out! Your face says a lot about you, so be truthful and answer yes or no.
Do You Have the Right Features to Be in Business?
1 – Do you have high cheekbones?
2 – Do you have a cleft in your chin?
3 – Do you have long nostrils?
4 – Do you have a high domed forehead?
5 – Do you have a hook nose?
6 – Are your upper eyelids invisible?
7 – Is your face shaped round?
8 – Are your ears sticking out?
9 – Is the Area Between Your Brows Clear?
10 – Are your eyebrows angled?
11 – Is there a gap between your two front teeth?
12 – Is there a single deep wrinkle between your eyes?
You need to answer “yes” to at least 8 of the questions to qualify for a successful business. If you have a
You have this burning desire you want to be on your own. The temptation is so great that you want to quit your job. Enough is enough. You’re sick of working for other people for a ridiculous pay.
To be your own boss means controlling your own destiny, having your own time and no bosses to report to. Basically, you can do whatever you want.
But before you really jump into a new territory of being on your own, you have to make sure that you’re ready and well equipped.
Below is the checklist that can help you to ensure that you’re ready to be on your own.
1. Have a crystal clear plan.
Do you have a clear idea as to what you want to do next? You must know exactly what your plan is. Is this going to be the same as what you are doing? Or, is it completely different from what you are used to do? Write down your ideas and evaluate the feasibility of your
There are certain traits and skills that many successful online entrepreneurs have in common. Some mentioned in this article may seem simple, but don’t overlook their importance.
You may not personally be strong in all areas, but you can get by as long as you can delegate tasks that call for them to someone on your team that is.
- Good Communicator Whether you are communicating by email, your web site, ICQ, web-based forums, or whatever, you (or someone in your organization) need to demonstrate good communication skills – especially good writing skills. Unfortunately, many online communications are very weak in this area. I’m not saying this to be critical, but to point out an area for improvement that we can benefit from by giving attention to. Since we’re all human and prone to making mistakes, our communications may not be flawless, but the more clearly and accurately we get our message across – with fewer mistakes in spelling, punctuation, and grammar – the more likely our prospects will grasp our message and
Business success is essentially the result of successful leadership. Contrary to the popular myth, leaders are not just born. Leadership skills can be learned and developed. A business is a distinct reflection of the leader, who may be the owner or manager. A business is never successful despite the leader, it is always successful or otherwise because of the leader.
7 LEADERSHIP ATTRIBUTES
There are 7 key attributes that a leader must develop if the business is going to succeed. A leader must have vision, must be an entrepreneur, must inspire others, must set standards, must orchestrate methods, must understand people and must measure results.
Vision is the attribute that drives the leader, the reason for existence and motivation behind being in the business. The vision the leader has allows him or her to clearly visualize what the business will be like when it is fully developed. If the leader is passionate about the vision and allows that passion to create an intensity or internal drive, then that drive will become an
So you want to start a business. You have an idea. Lets say you want to be a carpenter. You print some brochures, some business cards, and take out an ad in the Yellow Pages. You pay $600 for a website and a domain name that tells everyone about your amazing credentials and experience. You distribute your fliers at a local grocery store. And then you wait. And wait. And wait…
Nothing happens. But, that’s what everyone does, isn’t it? Print out some brochures, tell everyone how great you are, and wait for the money to roll in.
Stop right there. You have just made the top 10 mistakes entrepreneurs make.
Mistake # 1: First, being a “carpenter” is too general. There are a million carpenters in the world, but the only successful ones have something to concentrate on. Wood carving, house renovation, specialized pieces. Like the old saying goes, “Jack of all trades, master of none.”
Mistake # 2: If you fail to plan, you plan to fail. An idea is
Purveyors of conventional wisdom would have you believe that the very first thing you ought to do when setting up a new business is to create a business plan.
It doesn’t matter whether you are selling odds and ends on eBay from your living room or something larger and more complex,
Business plans are excellent and necessary. Far too few of us self-employed and freelance people use them.
They force us to spell out our objectives. We have to assign numbers to our expectations and assign a time-line to our goals. They become our roadmap keeping us on track.
But I suggest that you can’t make a business plan that is worth anything until you’ve done your homework.
And that means knowing what you want to do and how you want to do it. And determining that there is sufficient demand for your product to generate enough income to cover your costs and allow a profit.
In other words, before the business plan comes research.
If a body of knowledge already exists,
If you want to compete in the world of high growth startups, you better know how to play the marketing game. Marketing has become a big stakes game where companies are betting fortunes on the success of their products. Nowadays if you can’t play the big marketing game you may not even get the attention of the customers you need to grow your business.
So how do you compete if you don’t have the cash to run with the big dogs? The answer lies in growing your marketing budget by doubling up on your marketing investments quickly. Chances are the capital you need to compete in this game is right under your nose, you just need to know where to look for it.
Make marketing an investment
The first step to growing your marketing budget is thinking about it differently. People used to think of their marketing budget as a line item expense that they wrote checks for throughout the year. It was almost like rent – a normal cost of doing business. The mistake these
Q: I want to start my own business. I have tons of business ideas that all sound great to me, but my husband is not so sure. He says that we need to figure out a way to test my ideas to pick the one that has the best chance of succeeding. I’m ready to just pick one and go for it. What is the best way to determine if a business idea really is as good as it sounds?
— Hannah C.
A: Heather, I know you probably don’t want to hear this, but your husband is right (first time for everything, huh): before you just pick a business idea and go for it you should test the feasibility of your ideas to make sure they really are as good as you think they are.
Every business idea, no matter how good it sounds while bouncing around inside your head, should be put to the test before you invest time and money into its execution. Success lies not in what you think of your
Q: I am interested in starting my own business. I have a business degree and lots of experience in my chosen field, but I don’t know if I have the necessary skills to really make it on my own. Any advice?
A: You’ve hit the nail on the head, Marie, because when you’re an entrepreneur it’s truly up to you to make it on your own. Sure, you may have investors and advisors and employees and friends and family helping you climb the ladder, but in the end you’re the one who walks the high wire alone.
There are a variety of skills you’ll need to succeed as an entrepreneur and chances are do not possess them all. One of the great things about being an entrepreneur is that if you lack certain skills you can always hire people with those skills to help round out your company skill set.
Here are a few of the skills you’ll need starting out and others you can build upon later.
While it is tempting to just leap into a new business because of it’s exciting possibilities, a few key planning points will vastly increase your chances of success. These steps aren’t difficult, but they’re easy to skip. Many businesses ultimately depend on a slim profit margin, so planning can really help the process. Too many restaurant patrons, for instance, assume that running a restaurant seems fun because of the many restaurants they have visited, but restaurants have an especially high failure rate.
One of the key factors in planning a business model is simply researching the demand for your product. If you are great at making kitty blankets, for instance, it’s worth checking out to see if there is a market for it. The entrepreneur may find that there are three times as many potential customers for dog blankets, and by simply adding dogs to your marketing strategy, you will increase your sales four times over. This fact would be an important one to know before all the labels, website promotion, and branding was done with
Forging partnerships to improve market penetration has become commonplace, particularly for “new economy” businesses. And, most companies proudly mention their many partnerships in their business plans.
The fact is that, regardless of whom the partnership is with, partnerships by themselves are meaningless. What are meaningful are the terms of the partnership. For instance, while it sounds great to have a partnership with a Fortune 500 company, the details of the partnership are what investors find important. For instance, investors will look poorly upon a partnership in which the Fortune 500 company earns 90% commissions on customers it refers. On the other hand, investors would look favorably upon a more equitable partnership.
As such, be sure to detail the specifics of the partnerships. This includes factors such as how the partnership will work, payment terms, contract length, minimum and/or maximum guarantees, the type of customer leads expected from each partner, timing of payments, etc. In addition, if partnerships are a key part of the business plan, expect prudent investors to interview the partners and scrutinize partnership
I was reminded of my own mortality today. I guess you can say I had a near death experience, though the death I experienced was not my own.
No, I was never in any danger, nor was my life ever threatened. In fact, I was sitting in the air conditioned comfort of my home office sipping a nice cup of coffee and watching the dogs run around the yard when the moment came.
The sun was shining. The birds were chirping. Life was going along just fine.
Death was the furthest thing from my mind.
Then the news came that Corey Rudl had been killed in a high speed crash at a race track in California. At the moment of his death at the young age of 34, Corey was a passenger in a Porsche that hit a retaining wall at over 100 miles per hour, killing him instantly and the driver shortly thereafter. The track had been rented by a local car club so that Corey and his buddies could