Patience: A Neccesary Virtue When Growing A Business

Starting a business is exciting and comes with visions of freedom, money, and all the perks of owning a successful business. The excitement propels us into goal setting sessions, online research for blogs and websites platforms, and reading stories of other successful entrepreneurs that started out with the bare bones as we will. These stories tell tales of success and money out there just waiting for us if we would just believe. The reality is, yes the business is out there for the taking, but it will take a lot of hard work and patience to reach the level of freedom, perks and money that we dream and read about. So how do we manage our expectations and display patience as we grow our business?

Look Before You Leap. How do you look before leaping? A business plan! One that lays out your mission, your financial leap required, how you will market the business, future growth, etc. because if you leap before looking to see how you might land, you’ll be bouncing all over the place. Your focus will be off and you will end up trying to sell to everyone when your product or service may better serve a niche market. The business plan will also encourage you to patiently research whether there’s even a need for your offering or if you need to tweak your services for more success. It will also give you an idea of the amount of work you will need to put into starting and growing the business. Looking before leaping will save you from losing money with bad decisions and wasting time on a business that will not succeed because there’s no real groundwork.

Remember Work First, Success Later. Once you have a solid, realistic business plan to build from, make sure you examine your expectations. Most businesses are not financially successful right away. It takes time to build your mailing lists, get exposure, network, and connect via social media and you have to build relationships with people before they will consider purchasing from your business. Accept that more will be required than setting up a website, joining a networking group, or posting and tweeting our way to instant success. We have to patiently put the work into growing the business and its credibility to future customers, and the success will follow.

Work-Life Balance. Being patient as the business grows means it will be very important to practice balance. If you don’t keep yourself balanced, the excitement and work involved with growing a business will affect your family life. You can minimize the impact by setting boundaries in your business and family life. Make sure your family knows when you’ll be working on business tasks and set realistic goals for completing business tasks each day. Your business should also have dedicated office hours – for your clients and yourself so you know there is a beginning and an end to your business day. Accept that there will be times you have to spend away from the business to keep yourself balanced.

Owning your own business can be very rewarding if we are patient, manage our expectations and make a solid effort to balance our work and family life. Be sure to keep your business goals clear, follow your business plan closely, and be willing to do the hard work required. Avoid falling into the trap of creating un-realistic time goals by not allowing enough time for the things you absolutely must accomplish. Most of all, be patient with yourself, stay focused, and experience the joy as your business grows to success.

Stephanie Davis Anderson is the founder of Content Made Perfect at http://www.contentmadeperfect.com and T. Brookes Group Events, http://www.tbrookesevents.com, an event management firm that focuses on educational conferences, seminars and workshops in Nashville, Tennessee. As a small business owner and a working mother, her expert articles will center around business growth and success, achieving work life balance, staying organized, personal growth and maintaining personal sanity.

Article Source: http://EzineArticles.com/expert/Stephanie_Davis_Anderson/230212
Article Source: http://EzineArticles.com/9226736

Simple Steps for Entrepreneurial Success

One characteristic that seems to be universal for entrepreneurs is that we have ideas. Not just one here or there, but a TON. Ideas every day. Multiple ideas in a day.

You probably understand that you can’t act upon and bring to fruition every single idea. You have to be selective. Some ideas will work; others won’t.

So, then you are stuck in a dilemma: do you take action or not? Not all ideas are worthy of taking to their end game, but how do you figure out which ones are worthy? And so you might stay stuck, and you may not follow many ideas at all.

Your success as an entrepreneur depends upon your continual growth, evolution, and forward movement. And your ideas are how that growth, evolution, and movement manifest.

Here’s my simple Success Plan for Entrepreneurs:

1. Have an idea
2. Act upon said idea
3. Follow through and complete idea

Honestly, the place where I see most entrepreneurs falter is #3 – the follow through and complete. Now, sometimes you might realize, as you play with an idea, that it’s not really sound, or it’s not the right time. That scenario is not what causes entrepreneurs to fail.

What I mean is the idea that goes so far and then… nothing. In this case, it’s not because you’ve figured out that it’s not worthy. It’s that you’re onto the next idea. Or the completion and follow-through stage isn’t nearly as fun as the idea generating and playful stage. Or you get stuck because you haven’t figured out the next steps.

And that’s where entrepreneurs fall down. They don’t complete.

So, let’s look at those 3 steps again.

1. Have an idea
2. Act upon said idea
3. Follow through and complete idea

What could the potential be for some of the ideas you have knocking around in your head? What if you took one of your great ideas, and followed it through, from baby stage, to toddlerhood, to teenage years, to final all-growed-up?

Here’s what I’m challenging you to do…

1. Write down your current 5 top, most amazing, sexy, jazzy, juicy ideas.
2. For each idea, describe what it would look like if that idea was birthed into the world in full form. Use as many concrete, tangible details as you can.
3. For each idea, plan all the steps you would need to take (that you can think of – no stressing allowed!) in order to bring that idea to fruition.
4. Look over your list. Now, what idea(s) sound the most promising, the most profitable, and the most fun?
5. Pick one, and start scheduling the to-do’s from step #3 into your schedule.

A few notes as you go through this process:

• Not every idea should be acted upon. Sometimes an idea is just a pathway to a different idea.
• SOME ideas should be acted upon.
• If an idea doesn’t go anywhere, it just stays an idea. What this means in English: at some point, you have to take action in order for it to become a reality.
• This process takes time; there is no getting around that.

Play with these 3 steps and my challenge – I would love to hear what idea is burning for you to take action on!

Want to create powerful content that meets your market’s needs? Of course, you do! Because when you write from your soul, you connect more deeply and successfully with potential clients and your community. Download your free Writing From Your Soul system at http://www.WritingFromYourSoul.com.

Article Source: http://EzineArticles.com/expert/Dawn_Goldberg_Shuler/14513
Article Source: http://EzineArticles.com/9179411

Traits Of An Entrepreneur: What It Really Takes To Succeed

The world of entrepreneurship is a world filled with uncertainty, excitement, highs and lows, many challenges, and a remarkable sense of achievement. It can also be incredibly scary when a lot of money is at stake or other people’s futures and/or livelihoods are on the line. It can also be incredibly rewarding to overcome obstacles and prevail so that your organization delivers on its promise. No matter what, being an entrepreneur requires having certain traits in order to navigate these waters. Let’s take a look at some of those traits of a successful entrepreneur and contrast it with someone who merely thinks they want to be an entrepreneur.

The person who “thinks” they want to be an entrepreneur will:

1. Lack an abiding belief in themselves. Once they encounter any significant obstacles or setbacks, their confidence in themselves is shattered.

2. Lack perseverance. When challenges present themselves, this person will give up.

3. Lack the ability to listen. This person will not consider the constructive input of others and has a tendency to think they know it all. This person will also ignore the demands of his or her customers and the marketplace which, in and of itself, is a fatal mistake.

4. Be afraid to make mistakes and/or fail. Everything will have to be “perfect” before this person makes a move. This person views any failure as catastrophic.

5. Not have a vision. They have not considered what will be the direction of the company and how they will adapt to emerging trends to meet the needs of the marketplace.

6. Not be adaptable. They have a firm idea of how things should be, not what they really are. They resist adapting to the marketplace and instead insist that the marketplace adapt to them.

7. Not possess creativity. This person does not think of novel advertising approaches or ways of getting their products or services in front of prospective customers. They also lack the innovative skills necessary to navigate obstacles.

The person who is committed to being an entrepreneur will:

1. Have an abiding belief in themselves. They just “know” and “feel it” deep down inside of themselves that they have what it takes to succeed. This person knows that if they fully commit to being an entrepreneur, that they can make this happen.

2. Utilize their perseverance. They have a strong commitment to seeing things through. They know that every successful person out there encountered problems and challenges along the way. The critical difference is that the true entrepreneur adapts and finds a way around the obstacles.

3. Have an ability to listen. The true entrepreneur highly values the input of others and realizes that others may have skills, insights, and information available to them that they do not. The entrepreneur is acutely aware of and in tune with the needs of the marketplace and realizes that, by paying attention, they are better able to deliver on their promises.

4. Not be afraid to fail. Failure is a golden opportunity for the entrepreneur to learn what works and what doesn’t. Failure means that the entrepreneur is one step closer to realizing his objectives. Failure means that the entrepreneur is putting forth the effort to make things happen. Failure means that the entrepreneur is not afraid to make mistakes and learn from them.

5. Have vision. The entrepreneur has forward thinking skills and an ability to recognize emerging trends. The entrepreneur has the vision to recognize growth opportunities and how best to utilize the company’s resources for maximum opportunity in the future. The entrepreneur knows that, without vision, the company will perish.

6. Have the ability to adapt. The entrepreneur will successfully make course corrections and adapt to changing conditions. The entrepreneur will not be stuck in old ways of thinking and will be open to new and different approaches.

7. Have creativity. The entrepreneur will recognize that for the company to differentiate itself from the competition, it will have to be creative and fresh in its approach to marketing and branding itself. The entrepreneur will not be doing what everyone else is doing.

Before you embark on being an entrepreneur, you owe it to yourself to consider the traits of a successful entrepreneur and ask yourself the honest question, “Am I committed to being an entrepreneur or do I just “think” I am?”

An enduring fascination with peak performance systems and human motivation and achievement led Allan Gregoire to a career as an author. The author has worked in the resort industry, financial services, and the legal profession. The author writes content for his website http://actionmaxims.com, a site devoted to exploring your calling and destiny and achieving high levels of success.

Article Source: http://EzineArticles.com/?expert=Allan_Gregoire
Article Source: http://EzineArticles.com/7222572

Start a Business From Home With 100 Dollars Or Less

There are many ideas to start a business from home with very low capital. However, even though you’re not risking a lot of money to get started, you could face some major drawbacks if you don’t prepare yourself. You could waste a lot of time, lose your patience and be so disappointed that you may completely give up the idea of starting a home based online business.

Before you select a business, there are many issues to consider. The first one is selecting the right type of business. You need to select a line of work that you love and uses your natural skills. This is the most determining factor for your success or failure. Read this article.

Low Cost Home Based Business Ideas

Selling Discounted Health Plans – These could be medical, dental, vision, or prescription plans. Your main market would be people with no insurance and can’t afford regular medical services. You start making direct sales and later on enlisting other people and you get a percentage for every sale they make. AmeriPlan is the #1 company on the market and their starter kit is $95 which includes a free coverage plan for you, household members and a free website to advertise your business. You get 30% commission on each enrollment.

Travel Business at Home – This is a very popular business to start from home that requires little capital and allows you to earn money while traveling at wholesale prices. Global Travel Trends is the fastest growing Internet travel agency in the world. You could start working 10 hours a week and gradually increase your working hours. They organize “Travel Parties” and “Travel Orientations”, and have one of the best compensation plans in the travel industry. You also get great commissions for introducing people to the company.

Home Business Consultants – Are you really good with computers, gardening, photography, etc.? What other people’s problems could you solve and charge for it? When you can teach other people how to do it, or do it for them more effectively, you can start a business. Start by word of mouth and/or networking. Have some business cards made and promote your business on the Internet. Within the home business low start up ideas, this one covers a lot of areas.

Home Tutoring Business – If you excel in an academic subject, this may be your niche. You could teach students once a week, even during summer. Math and languages are in demand but this could be the case with your subject. Find out what’s the going rate in your area. You could give a discount for more than one child during the same trip. Promote your services by word of mouth, business cards and small ads in parenting magazines, school newspapers and home school groups.

Affiliate Business Home Income – From all the online money making opportunities that require a small investment, this is the one with more potential, but it requires more effort. You sell or recommend products and services of existing merchants. First you sign up with an affiliate company and the company gives you links, graphics and locations so you can market their products or services. You send leads to their site and receive a commission for each transaction a visitor to your site makes. Almost any major company has an affiliate program. Affiliate management companies such as Commission Junction, Clickbank and LinkShare Network represent hundreds of major retailers and service providers. Some of these companies require you to have a website. For more information about an affiliate business read Affiliate Business Home Income Potential.

Easy to Start Home Business

Paid Online Survey Opportunities – This is probably the easiest of the online income opportunities you can start with little money. Some big companies use online surveys to know more about their customers. Only a few of these online survey companies are legitimate, such as: Baker Street Solutions, 20/20 Research, Bellwether Surveys, and American Consumer Opinion and SurveysNeeded.com. This is an easy source of extra income for housewives, students and senior citizens.

Home Business for Moms

Good Mystery Shopper – Companies pay shoppers approximately $10 to $30 to complete assignments. Sometimes you get reimbursed for expenses. Many times they allow you to bring your children along. The more companies you sign up with, the more likely you get regular assignments. You don’t need to put money upfront except when you’re required to make purchases, but you get reimbursed after 30 days. To avoid scams, you should only sign up with companies that belong to the MSPA (Mystery Shopping Providers).

Home Based Business Plan

There are hundreds of sites on the Internet where you can promote your small business from home. You can place free classifieds at sites all over the world to get visitors to your site. (go to homebizlink.com/freeclas.htm and see their free classified sites).

These are just a few of the many home based business profit ideas where you invest 100 dollars or less. Learn as much as you can about the one you choose through workshops, magazines, the Internet and from successful people in your field. If you provide services, you can also offer them for free to friends and family members in exchange for reference letters. These letters are worth their weight in gold.

Before you get discouraged, remember that when you start a business from home, you have a much lower risk than with a traditional brick and mortar business. However, it has the potential to provide you with the same or even a larger income than your current job. It’s up to you!

WARNING! – 95% of the online income opportunities are scams. Don’t be the next victim! Learn how to avoid home based business scams and start a business from home.

Article Source: http://EzineArticles.com/?expert=Sergio_Ferreira
Article Source: http://EzineArticles.com/710773

Teaching Kids to Be Entrepreneurs!

Teaching kids to be entrepreneurs can be done easily. Before we look at how this can be done, I would like to challenge this thought…

Most people would consider a small business owner to be an entrepreneur; however, I’d argue that small business owners are not true entrepreneurs.

The key differences are…

Self employed or small business owner’s core value is the need for independence, a need to be their own boss and quite often they are perfectionists. Therefore they like to run the show and will devote all their time and often money to have a successful business. Business growth will be determined by the number of hours the owner puts into it.

Whilst an entrepreneur owns a system and it is the system that does the work with or without the owner. An entrepreneur’s focus is in the development of a great system and finding great people to run it. They use other people’s time and other people’s money to do the work for them. Their systems will continue even after they pass from this world. An excellent example of an entrepreneur is Thomas Edison and his formula for General Electric. He is no longer with us, but his empire continues. Other examples are Henry Ford’s world famous Ford motorcar company and more recently Steve Job’s company Apple.

However, before you can become an entrepreneur, you need to come up with an enterprising idea and hone your skills running a small business. Start kids off as small business owners, then coach them on being entrepreneurs. As their understanding and confidence with running a small business grows they will then develop the mindset required to be an entrepreneur.

It’s not easy to be an entrepreneur! Unless you were fortunate to be born into a family of entrepreneurs, you would likely have been conditioned to be a worker, or small business owner, not an entrepreneur. Most people (including family and school teachers) don’t have the knowledge, skills and most importantly, a mindset of an entrepreneur, so it is very unlikely that you will become an entrepreneur from family and school. Entrepreneurs need to educate themselves!

So how does one do that?

The earlier you start the easier it is. Children can build an entrepreneur mindset easier than grown ups. Having a good entrepreneur mentor is very important and children need to have opportunities to practice being an entrepreneur. Teaching Kids to be Entrepreneurs can most certainly be achieved.

As a prerequisite to becoming an entrepreneur, adults must learn about their subconscious conditioning around enterprise and money before they can really progress. Once understood, they then need to change that conditioning. This is a slow process and can be achieved through self efficacy.

By being focused on working through the process of running an enterprise, then celebrating achievements and successes, a person (adult or child) will develop self efficacy. By repeating this practice over and over again and increasing the challenges, then gradually a person will see themselves as a person who can run an enterprise.

To move to the level of entrepreneur, it is then about creating systems. This would mean finding the right people to build your enterprises into growing assets that produce passive income.

Being an entrepreneur is not an inherited trait, but a learned behavior. Giving your kids a financial education will empower them for life!

Teaching Kids to Be Entrepreneurial provides them with greater opportunities. It gives them the skills and confidence to build businesses, providing them personal and financial freedom at a young age. More importantly it will give them time and money to make a real difference to people important to them, and to their world. We invite you to visit http://www.enterpriseforkids.com and help us create kid entrepreneurs. Please pass our blog around to your friends and be sure to show it to your kids!

Article Source: http://EzineArticles.com/?expert=Trevor_Howitt
Article Source: http://EzineArticles.com/7231474

Top Qualities of Successful Entrepreneurs

The qualities that successful entrepreneur have in common are plentiful. Below are some arguably some of the most important qualities (or characteristics) that can be found among successful entrepreneurs.

Determination and Ambition

Successful entrepreneurs have determination and ambition and many would suggest that determination is the primary characteristic of a good entrepreneur. Ambition is necessary, but it’s not enough. Determination – that drive one has to propel himself/herself to consistently make sure things happen – is what separates a successful entrepreneur from your average business person.

Self-Belief

Entrepreneurs typically have a strong belief in their own abilities. This inner belief is what drives them towards success. They know that whatever hurdles may come their way, they’re up to the task of handling them.

Vision

Successful entrepreneurs know what they want and visualize people doing it. Visioning leads to furious networking and entrepreneurs have conversations with vision and purpose in mind. They are always asking “how can this vision become a reality?”

Patience & Perseverance

Entrepreneur often have both patience and perseverance. Vision, coupled with self-belief and determination, pushing entrepreneurs to their next goal, and the next, and the next. They know success does not happen overnight and it requires hard efforts and often includes mistakes. Successful entrepreneurs don’t lie down (or play the victim) when the tough gets going or something doesn’t happen as planned. They maintain their sense of patience and they persevere.

Persistence

Related to patience and perseverance is persistence. Entrepreneurs are nothing if not persistent. They know when they have a good idea. They timing may not be quite right, or the location, or their present marketing approach, but successful entrepreneurs find a way to make their ideas come to fruition.

Courage

Entrepreneurs are a courageous bunch! This doesn’t mean they’re never afraid. An entrepreneur may present himself/herself as confident while shaking with nerves underneath it all. But they courageously move forward and they action, even when afraid.

Integrity

Entrepreneurs must have integrity. It is intrinsically built into most people’s definition of an entrepreneur. They are naturally interested in people, learning about them and what they do. They treat people with respect because they know without the backing and support of people their plans, dreams and goals may never come true. Many entrepreneurs are humble, good listeners, unassuming, caring, kind, and helpful.

Creativity and Innovative

Entrepreneurs are naturally creative and innovative people. The entrepreneurial person sees money making opportunities all around him or her and s/he acts upon them. They creatively make decisions and don’t wait on someone else to do it for them. They’re dreamers and out-of-the-box thinkers!

Results Oriented

Good entrepreneurs don’t take “no” for an answer and they don’t allow one door to be closed without making sure another one is at least slightly open. They aren’t always driven by the money. Sometimes the results are simply the sense of achievement that comes from successful results. They surround themselves with like-minded people who take action.

Focus on Customers

Good entrepreneur know one simple truth – without their customers they’re nothing! Entrepreneur truly values and appreciates each of their customers. They appreciation and seek the power of ‘word of mouth’ marketing. They want all of their products (and/or service) to be the number ONE choice for their customers. Good entrepreneurs regular evaluate their competition and find ways to do it better for their customers.

—————————-

Trish Mullen is in an award winning leader with several business successes and accolades and she has these qualities in abundance. If you have those qualities and are ready to seize that next best thing, connect with Trish by starting with her Six Figure Mentors FREE Bootcamp at http://www.ReadyToMakeSixFigures.com. This is every entrepreneur’s dream, a chance to innovate coupled with the tools, techniques and training to build a great business from solid foundations. The piece de resistance however is the strong community of like minded individuals in support.

Article Source: http://EzineArticles.com/?expert=Trish_Mullen
Article Source: http://EzineArticles.com/5539484

Article shared by Edward Dovner

The Benefits and Challenges of Being an Entrepreneur

Whether you’re in Midwestern America, Eastern Europe, Northern Africa, or Latin America you’ll find people are breaking away from the traditional employment model and instead making the decision to find success as an entrepreneur. Below are some of the many benefits that are often associated with entrepreneurial endeavors.

• You can see your innovative ideas come to life.
• You’ll learn and appreciate the benefits of hard work and self-motivation.
• You can consistently feed your curiosity about new aspects of your business or the businesses of your clients.
• You can choose your own employees.
• You can choose your own schedule.
• You’re free to take sick days or vacation days as needed.
• You are free to travel.
• You enjoy better job security than many people.
• You can say goodbye company dress codes or uniforms.
• You can avoid having to personally complete central tasks that you don’t enjoy (or simply have time for) by outsourcing them.
• If you learn to be a better boss, you’ll learn how to be a better employee.
• Your ambition can drive you to greater and greater success.

Being an entrepreneur is not, however, all roses. You can – and should – expect some thorns along the way as well. One study from the United States Small Business Association states that 1/3 of small businesses fail within the first two years of their existences. More than 50% of them fail within the first five years of their existences. . Being an entrepreneur means a lifestyle change and changes means challenges. Below are some common challenges:

• You’ll need to become accustomed to having to narrow down your innovative ideas and determining criteria that determines which idea could actually be profitable.
• You’ll need to realize that results are profitable, not time or even hard. You may sometimes work hard and still find yourself disappointed with the bottom line.
• You must also be familiar with each aspect of how your business operates, whether you have a curiosity about it or not.
• You’ll have to learn how to recruit talent, conduct employee interviews, hiring employees, ensure legal rights, and make sure everyone is getting paid.
• You’ll need to develop – and maintain – great time management skills.
• If you take a day off you’ll need to ask how much each day off is worth to you or what may be lost if you take a day off.
• You’re likely always on call, even while traveling and especially if a crisis arises while you’re out of town.
• You are responsible for funding your business, even if you’re operating at a loss.
• The way you choose to dress reflects your company.
• If you can’t afford to outsource or if an employee quits on you, you’ll often be the one responsible for completing any tasks that need completed.
• If you don’t yet have solid leadership capabilities when you start your business be ready for a crash course.
• Only you can motivate yourself to achieve business success.

To sum it up, keep in mind that with freedom comes responsibility. It’s a delicate balance and if you can’t handle one, you likely not yet ready for the other. It’s important to arm yourself with knowledge and to understand what you are realistically getting into.

Evelyn and my goal is to help you unleash your inner entrepreneur. If you are struggling to achieve success in your small business, I can help you via individual coaching. This service can be provided via e-mail, Skype video conferencing, or telephone, as well as in person. As a successful entrepreneur myself, I understand many of the common issues that small business owners face and how to overcome them, so don’t hesitate to ask for help.

Article Source: http://EzineArticles.com/?expert=Evelyn_Gawlowska
Article Source: http://EzineArticles.com/7077049
Article shared by Edward Dovner

10 Key Points Aspiring Entrepreneurs Should Keep In Mind

Do you have what it takes to become an entrepreneur? Majority of people are more comfortable being employed than putting up their own business. This is not because they are contented and happy with their present job but the truth is; people are afraid of failure.

Setting up and running a business is tough and risky. There’s no guarantee of success. Chances are, you could be successful in this venture but there’s also a great chance of failing. In short, entrepreneurial life is not for everyone. Yes it can be risky but it can be rewarding too for those who succeed.

“Only a warrior can handle the road to become unbeatable. His life is a challenge, and challenges are not good or bad. They’re simply challenges.”
Samurai Proverb

10 Key Points Aspiring Entrepreneurs Should Keep In Mind

1. Time is Your Most Valuable Asset

Here’s an important fact, money, success, material things are all useless if you don’t have the TIME. Unlike if you are an employee, your time or work hours is not dependent on bundy clocks but are utilized on more important matters like planning strategies to make your business successful or think of ways on how to improve your business plan to achieve your goal. Therefore, as an entrepreneur, your time should be spent wisely. If you don’t have the “Time” then it is worthless to even think of becoming an entrepreneur.

2. Business Success Depends on You

Being the business owner, everything and everyone is counting on you. You have the ultimate responsibility to make things work and to make your business successful than simply being an ordinary employee. You no longer just sit there for the meeting because you call the shots here. You cannot just sit there and wait for the result because it is you who make things happen. Your business’ success lies on the palm of your hand. If you know how to play the game, tremendous opportunity awaits you.

3. Don’t Go After The Money

Don’t fathom on the “Get Rich Quick” scheme. You cannot take a short-cut to success. It is ridiculous to believe such a thing. What entrepreneurs should do is not to waste any time, offer quality and good value of your service or products to customers and everything else will follow. Never chase after the money, instead attract money towards your business. Once you do it right, money will follow.

Remember, if you are able to provide and satisfy your customer’s needs, if you are able to give their money’s worth, then revenues become a by-product of your success.

4. Let Money Work For You

Keep this in mind, successful people do not stress themselves to work over money but they have the formula to make money work for them. It makes me laugh to hear people complain about the rich people having so much money and yet works less or put much lesser effort than they are. Sad to say, these same people who make such uneducated comment are the ones who want to get rich fast. They buy lottery tickets in the hopes of getting their millions so easily.

And unsurprisingly, these very same people are the ones who spend more than what they can afford and are usually in debt up to their eyeballs. In fact, they become so comfortable living paycheck to paycheck and make no effort to get out of that rat race.

Successful people become successful for a reason. They work for it and step-by-step climb the ladder and then find ways to create opportunities for money to work for them.

5. Success, Stress and Risk Go Together

Employees do not worry as much as business owners do. Of course they worry and think about the success of a particular campaign, but they are limited and are focused only in completing the task they are told to do so. While being the business owner, you carry the burden. There’s no comfort zone for you. You give the order here, and the employees will simply execute and implement what you ask them to do. If you aren’t feeling the stress and the pressure of what you are doing, then you are not taking enough risks in pursuing your business venture. Simply put, the higher the risk you take the higher your reward will be.

6. The Magic Pill

Our dependence towards this what we call “magic pill” has grown exponentially over the years. This magic pill becomes the primary solution to our problems. If you had too many drinks the other night and got this hangover, a friend would recommend some pills for you. If you have this acid reflux in your stomach, there’s some pill for that too. If you are gaining too much weight, there’s some magic pill for that too.

Well, amateur entrepreneurs also have the tendency to become dependent on some “Magic Pill” too. Simply calling yourself or branding yourself as the “President and CEO” of your new company doesn’t signify you to be a successful businessman already. Reading and learning about other people’s success stories doesn’t make you one either.

Don’t be a parasite of this “magic pill.” Make effort on getting rid of your bad habits. Success is a journey. You have to go through it, pass through rough roads, stumble, and stand before you reach your destination, same with being an entrepreneur. You don’t achieve success overnight. You need to pass through the eye of the needle before success is attained.

7. The Love of Numbers

The only numbers employees are concern about are their salaries or commissions they get from the company. But as an entrepreneur, every single number associated to your company is very much critical. From the preparation of your proposal to tax estimates to payrolls to cash flows and balance sheets, the numbers you see here means a lot to you and your business. Therefore, you should love numbers because your business depends greatly on those numbers. In short, you better be good in Math. Having great ideas and products are not enough. You’ll never reach success if your Math is wrong.

8. Recognizing Your Assets

OK, so do you really know what your true assets are? First let me differentiate asset and liability. According to the dictionary, “Assets are items of ownership convertible into cash; total resources of a person or business, as cash, notes and accounts receivable,securities, inventories, goodwill, fixtures, machinery, or real estate.” On the other hand, “Liabilities are moneys owed; debts or pecuniary obligations.” In short, they are disadvantageous to you.

As you see, Assets and Liabilities are completely opposite with each other. An asset makes you money while liabilities cost you money. But surprisingly, I kept running into people who considers their “HOME” as an asset even if they still have 25 years left in their mortgage.. Obviously, a lot of people are confused between asset and liability.

Keep in mind that unless you have completely paid off your mortgage, your home is considered a liability. Now if you don’t believe me, try not paying your monthly dues and you’ll see how fast as a lightning your property is taken away from you.

Same goes with your business, don’t use your business credit card to buy a company car and think of it as an asset. Remember, anything that is leased or bought on credit is a liability to you and your business. The more credit incurred the more liability you have. But if debts cannot be evaded, make sure to keep it minimal. That way you can make your business grow faster.

9. Location Independent

You put up a business to be independent. So why not make your business a location independent as well. Meaning, you must be ready and open to opportunities at any time because opportunities knock on doors anytime of the day. Income opportunities never sleeps you know.

This doesn’t mean though that you have to work 15 hours or more. It simply means that you can easily adjust your work time and your leisure time. You can work even when you are on the road, stuck in traffic or may take some time off anytime of the day to take care of personal matters. In short you are free and “location independent.”

10. Helping Other People Succeed

Of course, any entrepreneur will make effort to achieve success but don’t stop there. You’ll be amazed how fulfilling and rewarding it is to help others succeed too. And I am not referring only to your clients but helping other aspiring or established entrepreneurs as well. Giving back is key behind any businessman’s success. To be generous can lead to more blessings – not just monetary blessings but also in other aspects of one’s life. It’s true!

Manuel Gil del Real is the owner of MGR Consulting Group, an Interactive Marketing Agency providing marketing solutions to companies worldwide. He’s also an auto racing enthusiast and a blog author who enjoys sharing his thoughts and ideas on Internet Marketing, entrepreneurial advice, lifestyle and travel experiences among many others. You can read more interesting articles on various topics from his MGR Blog.

Article Source: http://EzineArticles.com/?expert=Manuel_Gil_Del_Real

Article Source: http://EzineArticles.com/8644642

Edward Dovner shared this article.

About Edward Dover

Florida resident Edward Dovner has over 3o years  experience as a business owner and entrepreneur. A sharp businessman from a young age, Mr. Dovner has founded, grown, and transacted sales of many companies.  Edward was Raised on a farm an hour south of Boston. He developed a zeal for business, and work ethic and has since applied this focus and perseverance to a number of flourishing businesses starting in the 1980s.

Edward Dovner left his hometown and moved to Florida where he joined the hotel staff of The Westin Diplomat Resort & Spa. During his three years with the hotel, Edward Dovner learned a great deal from his fellow co-workers and the successful and interesting patrons that often visited.

Ed Dovner started cultivating his entrepreneurial spirit at the tender age of 21 when he became an acclaimed sales agent at Metropolitan Life Insurance Company. He then successfully created a niche market company within gourmet coffee industry and sold his business for a substantial profit.  In 1993, Ed launched First Choice Armor & Equipment and grew the company to over $90 million in sales. Again Ed sold the company for a substantial profit in 2010.

Over the past two decades, Ed gravitated into the world of commercial real estate.  Ed’s primary focus in commercial real estate has been with the development of single-family house subdivisions and retail strip centers. Since the sale of his first successful company, the establishing and maintaining of his financial relationships has been the center of Ed’s core business. One Ed’s great strengths lies with his network of financial and real estate contacts. This vast network of financial professionals brings added value to Lockwood’s requirement to borrow debt and raise equity.  To date, Ed has delivered to Lockwood two significant developers along with a number of financial real estate companies.

Actively involved in his community in Delray Beach, Florida, Mr. Dovner supports several local events and regularly donates to many charities. Additionally, he also contributes to Catholic Charities USA and to the Crohn’s & Colitis Foundation of America (CCFA), an organization dedicated to research of Crohn’s disease and ulcerative colitis.  Ed has three sons and over the years has coached his son’s sports teams and continues to participate in such sports as golf, skiing and sky diving.

Edward is also an online blogger and a self-proclaimed serial entrepreneur.