Entrepreneurs – Want To Start A Business But Not Sure What Type?
Many entrepreneurs get that itch to start a new business, either because they are fed up being “wage slaves” or they like the freedom that working for yourself can bring. Some even think that they will be richer or have more spare time. Many are not sure what kind of business they want.
First of all – never start a new business because you want more money or more time. Starting a new business takes both lots of time and most, if not all, of your money.
Secondly don’t fall into the trap of starting a business just for the sake of it. Make sure that someone wants what you are aiming to sell! Your fruit cakes, tattoos or begonias may be the best in the area but if no one wants them – then you are going to be going bust very soon.
So how do you find out what kind of things you are going to sell?
1) Look at the type of area that you want to set up your business. A majority of aged clients is not going to be keen to have tattoos but might love your cakes!
2) Look at the other businesses selling in your area. Whilst it is sometimes good to group some businesses together such as car sales – make sure there is enough people left who may buy from you. Similarly if there is a successful company that is not coping – maybe you can inherit some of their clients?
3) Look for gaps in the market. Are their complimentary businesses close by who you can join in with to share customers? Is the market just crying out for a particular product of service.
4) Most importantly go and ask people. Give talks at clubs about your subject and see what kind of reception you get. Hold a competition for the best ideas etc.
Good luck in obtaining a firm foundation for your new business.
Entrepreneurs make up only about 15% of the working population in the US. Far fewer actually succeed than those who attempt to become self employed business people and venture out on their own. So what makes people decide to take the entrepreneurial path, when so few actually make it a reality?
Is the American dream a possibility for anyone, or, does it take more than most to become a successful entrepreneur?
The success of an entrepreneur does depend on their mindset. A large percentage of business owners will quit in their first five years in business. What is needed is the fortitude and belief that goes with attaining success.
Entrepreneurs are risk takers and dreamers. The difference between the dreamer and the entrepreneur though, is that the entrepreneur takes actions based on their dreams. They persist through the hardships and never give up! Many entrepreneurs start with an idea. Their success is determined by their belief that they can create something greater than simple monetary success. Often, it is about creating something which will benefit the world.
James Dyson, for example, came up with the idea of the bagless vacuum cleaner. Despite multiple set backs, over 5000 prototypes and not being able to get any manufacturers or distributors to accept his idea, he persevered. It was over a decade after his initial idea when his concept came to fruition. Even then, it was after a lot of difficulties and hardship due to the vacuum replacement bag industry, which was worth £100 million in the UK.
In Simon Sinek's book 'Start With Why', he suggests that the biggest companies in the world are so because of their "why?" - their reasons for building a business in the first place. In all cases, it wasn't just to make money, or make technology better, or some whimsical ideology.
The Wright Brothers, for example, became known as the pioneers of the first manned flight. But their competition was much better funded and well connected - Samuel Pierpont Langley had worked at Harvard, had a number of powerful connections, including Andrew Carnegie and Alexander Graham Bell. The War Department funded his project with a $50k grant, a seemingly massive advantage to the unconnected Wright Brothers who had no money or influence. However, their passion and devotion to change the world with this new technology drove them to attain the first flight in history in 1903.
Desire for material things and monetary wealth can only carry someone so far. Unless you have a goal or passion which is bigger than that, you may lose the momentum and fail to maintain your enthusiasm for any length of time.
The entrepreneurial mindset is one which taps into your purpose. Without a purpose driven goal or aim, it can't take long before disillusionment kicks in. With a mindset which takes into account a larger purpose, entrepreneurs can build huge businesses because they 'saw' a vision of what they wanted to create. If the purpose is greater than the obstacles which lie in the path of attaining it, no amount of setbacks will stop you from achieving your goal.
On the other hand, if you set out to do something and something gets in the way and stops you, your initial reason, (your "why?"), may not have been strong enough to endure all the battles along the way.
Entrepreneurial mind frame (or mindset) therefore, must be aligned with both your vision, your values and your purpose. If your values are not in alignment with your purpose and vision, you'll come up against road blocks which will stop you from achieving your goal.
Entrepreneurs Business Opportunities
They say money doesn't grow on trees, but I think you can grow it on something even better! Your home computer. To make your money tree grow, you will need to give it a home and a place to grow. You can do this by creating your own website. Here are some basics steps to creating your own website:
1.Pick a domain name. Make sure the name relates well to the information on your website. If you can, make it short and easy to remember.
2.Create your web site using a web site creator, hand coding your own html, or a combination of both.
3. You will need to sign up for a hosting account to get your website online.
Next you will need to plant the money tree seed by developing your product so it can grow:
1.The fastest and easiest way to create a product to sell on your new web site is to create a information product (e-book, audio, etc.). Its very low cost or free to create, and everything is automatic and electronic. That means there is no overhead and no products to ship!
2.You may also want to consider borrowing some seeds while you make your own. You can do this but signing up with other companies that sell information products and selling their products for a commission. This is a great way to get started and test the markets to see whats selling. You also build relationships with companies and that very well could be a marketing advantage after you finish your product.
Finally you will need to nourish your tree by watering it with traffic.
There are three main way to get traffic to your website
1.Your can buy traffic through sites like google. With this method you pay each time someone searches for your key words and they click on your link to your site. Through google you will be paying $.05 each click and up.
2.You can email you mailing list you made over time. Send out a promotional email and and get your previous traffic coming back. Just be careful not send out too many, or they will become annoyed and turned off to all your other emails.
3.Partner up with your competition. You can get your competitors to send out your promotional emails by offering them a commission. Your competitors can become one of your best assets!
Maintain your tree by watering it with plenty of traffic, and give it plenty of love by updating your material! Fallow these easy steps and your money tree should be ready for harvest in no time.
Entrepreneur Training Program: Why is there a need for it?
These days, everywhere you turn, you are bombarded by news of gloom and doom about our economy. It's like Halloween got here way too early this year. I try my best to avoid the TV and radio news altogether. No, I'm not in denial or being naive. There's no doubt that something is very wrong in this picture. However, if you focus your attention on the bad news that's broadcast 24/7, and hang around the water cooler whining, bitching and complaining, your chance of success is doomed.
Research has shown that the right mindset and attitude can make or break a person/business. How do you maintain a laser-sharp focus and unwavering success mindset during these challenging times? That's where masterminding comes in.
The right mastermind group can provide abundant resources for building your business. Mastermind groups can be made up from a group of peers in the exact same industry that you are in, a group of companies that focus on the same vertical market or market segment, or a group of business leaders that are ready to mentor those who are starting out. When you are in a group of like-minded, success-focused, positive business professionals, there are infinite possibilities, creativity and resources to be shared. Oftentimes, we cannot see what's missing in our own business. It's extremely valuable to have someone else to point out your blind spot or offer you solutions you would not have thought of by yourself.
During these turbulent times, perhaps the most important value of having a mastermind group, is to have an army of your own, so to speak, against the ugly beasts of fear, negative beliefs, doubts and worries. If you are familiar with the Law of Attraction and the success principles taught by masters such as Napoleon Hill, you know that you can't afford the negative thoughts and beliefs -- not in your personal life, and definitely not in your business. If you have taken all the right steps to select the right kind of people for your mastermind group, you would have an unbreakable support network to always keep you in the positive energy field.
Next time you meet with your mastermind group, may I suggest that you set a group intention to lift and keep one another in the success-oriented positive energy field. Select some empowering affirmations that you'd like to recite and affirm at your meetings. Absolutely no whining, bitching or complaining allowed in and outside of the group. Set up some type of buddy system so you can call for support, in case you fall into a negative slump. Do everything you can to safeguard your positive energy, and watch the success come to you.
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