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Tag: entrepreneur

  • The 7 Essential Characteristics Every Entrepreneur Needs

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    Discover the secrets to being a successful Entrepreneur…

    Becoming an entrepreneur is not an easy task! Around 45 percent of all new businesses fail to survive more than two years. There are certain qualities and characteristics that are absolutely necessary if you would like to become successful in your business ventures. Some of these qualities are built-in parts of your inherent personality, and some of them get developed over time. Knowing these characteristics and identifying your weaker ones – those which need strengthening – will, eventually, help you become a successful entrepreneur and ensure that you succeed in your business ventures.

    1. Common sense.

    Studies show that most successful businesspeople consider common sense as the foundation of their success. Good judgment depends on acquired knowledge and past experience. The combination of these two creates necessary prerequisites in developing common sense in a person. Common sense allows you to understand complex issues in simpler terms and get into the core of a problem.

    2. Specialised knowledge of your field and willingness to learn

    It is easier to start a successful business if you have deep knowledge of the business field that you decide to pursue. Having said that, studies show that most self-made millionaires have only average intelligence. Nonetheless, these people achieved their financial and personal goals in business because they are willing to learn. To succeed, you must be willing to ask questions, remain curious, interested and open to new knowledge.

    3. Self-confidence and the heart of a champion.

    Self-confidence is a key entrepreneurial skill for success. A successful entrepreneur believes in his abilities. He/she is not scared to take risks and make difficult decisions. You have to be determined to succeed at all costs. You have to anticipate resistance from your friends, family and loved ones. You must exercise unlimited persistence.

    4. Ability to work hard

    Every successful entrepreneur works hard. Ask any successful businessperson and they will tell you immediately that they had to work more than 60 hours per week at the start of their businesses. If you are in a start-up phase, you will have to breathe, eat and drink your business until it can stand on its own. . This requires a self-control that many people simply fail to develop in them.

    5. Passion

    Success comes easily if you love what you do. Why? Because we are more relentless in our pursuit of goals that we are passionate about. Entrepreneurs who succeed do not mind that they are putting in 15 or 18 hours a day to their business because they absolutely love what they do. Success in business is all about patience and hard work, which can only be attained if you are passionate about your tasks and activities.

    6. Think success

    To attain the kind of success that you want, you need to dream big. Every success story starts with big dreams! If you only aspire to survive, then you might just achieve that. Conversely, if you aspire to generate incredible wealth and happiness within your life, you might just achieve that too. You should actively visualise success in your mind. What does it feel to triple your current income? How will your life change? What will your business look like if you achieved the million-dollar mark? You must believe beyond a shadow of a doubt that you have the ability to recognize and fulfill your goals.

    7. Plan accordingly and stick to your plan

    You have a vision, and you have enough faith in yourself to believe that you can achieve your vision. You have to have a solid business plan and then stick to it. Put your goals in writing. You need to plan each day in such a way that your every action contributes to the attainment of your goals. Intense goal orientation is the characteristic of every successful entrepreneur. They have a vision, and they know how to get there.

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    Source by Bill Doyle

    Views: 0

  • How to Make Money and Become Richer Every Day

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    There are countless ways of making money. It all begins with your motivation to get creative and be determined to go for success. The world’s richest entrepreneurs started with an idea that just came into their mind and they decided to chase their goals. You have heard from the several forums they have been invited on to give inspirational speeches. The bottom line is your determination to reach success. You can then start a business that will see you making more money every day. Here are some of the tips you should have in mind so as to make money.

    Start with the Little You Have

    The little money you have should be used in generating more. All you need is a business idea and a clear business plan so as to get you started. Therefore you need to know that the money you have cannot grow to make you successful in life unless you invest it in some viable project. Banks interest rates are not that good to get you to success. However, if you did a good research today on a good business idea that you have always had, that way you will be ended to success.

    Don’t Let Any Coin Pass Your Way without Trying to Get It

    If you are an entrepreneur, you understand what that statement would mean. It means don’t let an opportunity you are viable for pass your way. You should consider the money making opportunities, not the spending opportunities. Although you have to spend to gain some more, there needs to be more than an equilibrium in your favor. Therefore, if you have not been keen to identify opportunities, you should be keen from today. There are so many opportunities you just need to be keen so that these opportunities don’t pass you.

    Don’t Just Look on One Direction, Opportunities Are Everywhere

    As much as it is good to concentrate on one item before looking for the other, you also need to be aware that this can lead to loss of opportunities. You need to aim at diversifying your money making ideas. The most successful entrepreneurs offer multiple services. Although they are in one business line, you will find that they have other side gigs to keep them going. Therefore you need to be vigilant to identify opportunities where you can diversify your business so that you can make more money by tapping into different opportunities.

    Decrease Expenses and Save More to Make More Money

    Even the moment your business more profits than normal, you need to save more so as to get richer. Reduce your spending and increase your savings is a formula that will help you accumulate your wealth. You can save in the bank or by buying assets that you can sell in future.

    Invest in High Returning Ventures

    Think of projects that will give you more value in the future. Don’t invest in projects that keep you in the same position, you need to grow. Therefore some investments like real estate that are always increasing value can be good.

    Entrepreneurs are always self-motivated. They have the intrinsic determination, and their goals are their inspirations.

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    Source by VanNess Vaughn

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  • Social Entrepreneurship – Now is the Time

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    Social entrepreneurship is a major area of interest in many social and civic organizations and has a significant impact on many areas of society. During the past decade economic resources have become more difficult to acquire and society has continued to exhibit economic and cultural decline. Concurrently, communities are in need of initiatives that will enhance their financial viability and programs that will enhance the overall viability of the population.

    Social entrepreneurship initiatives are ventures that can serve as a method of increasing the social value of a community, organization or cause while enhancing the financial viability of a not-for-profit organization. With this being stated, social entrepreneurship has been defined in different ways by many different theorists. Gary McPherson, Executive Administrator of the Canada Centre for Social Entrepreneurship, states that social entrepreneurship involves various individuals working toward meeting social and economic goals simultaneously; while Bill Drayton, CEO of Ashoka, defines social entrepreneurship as a term coined to describe “individuals who combine the pragmatic and results oriented methods of a business entrepreneur with the goals of social reform.”

    A more basic definition of social entrepreneurship states that it is “the process of using entrepreneurial and business skills to create innovative approaches to social problems.” Therefore, it is a methodology that is presently being used to resolve community and societal concerns globally. Social entrepreneurship as an area of specialized entrepreneurship is not defined by the same titling in every culture. For example, in Latin America countries social entrepreneurship initiatives are referred to as “Micro Enterprise.” In India the same program would be identified as a “Social Mission.” Though termed differently in various regions, social entrepreneurship initiatives are being implemented to solve specific societal and community concerns by focusing on the needs and resource availability within specific geographic regions.

    Social Entrepreneurship in Education Throughout the United States, many top tertiary level academic institutions are enhancing their business programs by including a curriculum that caters to the study of social entrepreneurship. In 2003, the Center for Responsible Business was launched on the University of California Berkley Campus. This subsidiary of the Haas School of Business was implemented with the intent of training students to be more principled and socially responsible members of society through attending “the preeminent educational institution in area of Corporate Social Responsibility.” Stanford University also has established a Center for Social Innovation as a part of its graduate school of business. This center was founded with the mission to “build and strengthen the capacity of individuals and organizations to develop innovative solutions to social problems for a more just, sustainable and healthy world.”

    In 1993, Harvard Business School started its social enterprise program with its mission of “generating and sharing knowledge to help individuals and organizations to create social value in the not-for-profit, private and public sectors,” and the University of Miami has refocused its business school curriculum to include coursework in the areas of ethical-decision making, social entrepreneurship and community engagement with the primary focus being to expose students to various areas of civic engagement while concurrently teaching them leadership and team building skills.

    Tertiary level institutions, including Duke, which has established a Center for the Advancement of Social Entrepreneurship as part of its Fuqua School of Business, and Columbia University where the research initiative on social entrepreneurship is embedded in its school of business, have also made strides to enhance the study and education of those seeking to venture into areas of social entrepreneurship and social venture implementation. The Association to Advance Collegiate Schools of Business-International (AACSB – International) has identified over twenty-four tertiary level institutions that have included social entrepreneurship as a part of their business college and or business curriculums.

    With social entrepreneurship being perceived by many as a new way of stimulating social change, Idee Winfield believes that the implementation of community-focused service learning projects is the first step in exposing youth to the various attributes associated with social entrepreneurship. Through community involvement, youth will begin to visualize and experience the various social issues within their community and envision ways to solve these problems. Winfield states that social entrepreneurship should be promoted in primary and secondary education, and coursework should be adjusted to allow students to “see how abstract socially focused concepts can have real world applicability.” Jeffrey Soderborg, a member of the Kauffman Center for Entrepreneurial Leadership Clearinghouse on Entrepreneurship Education, is also an ardent proponent of social venture education who believes that social entrepreneurship would be more readily accepted if youth were exposed to information expounding the laurels of these initiatives during their primary and secondary academic years.

    As youth expand their horizons through the establishment of entrepreneurial efforts, knowledge and exposure to information about the process involved in the establishment of entrepreneurial business effectively plays a major role in the rate at which business entities are established. A study focusing on entrepreneurial interests among black youth ages 14 to 19 identified that 75% of the youth surveyed had interest in becoming entrepreneur. The study also found that these minority youth believed that more information about entrepreneurship should be presented through their schools. They also believed that entrepreneurs have a responsibility to reinvest in their community.

    Corporate Social Responsibility

    Personal values often serve as the justification for entrepreneurs to focus organizational efforts on socially focused ventures. The organizational decision to forgo pursuing financial gain with the intent of using the corporations’ profit resources to enhance a community is often referred to corporate social entrepreneurship. Corporate Social Entrepreneur (CSE) is a term used to describe corporate initiatives whose primary focus is to enhance a social concern and whose secondary focus is financial gain. The corporate social entrepreneur differs from the financial profit seeking entrepreneur in the area of decisions made that affect the community and environment in which their organization functions. Research identified that in corporate social entrepreneurship business acumen serves as a factor in the success or failure of social venture initiative implementation. Research identifies that success factors associated with the implementation of social responsibility initiatives were linked to whether the entrepreneur exhibits behavior that is moral, amoral or immoral.

    The amoral entrepreneur would pursue initiatives only if they were deemed acceptable by the organization as a whole. The immoral entrepreneur implements initiatives based on what can be potentially gained for self as well as for the stakeholders, while the moral entrepreneur would pursue social responsibility initiatives based on what was in the best interest of the organization. Individuals identified as corporate social entrepreneurs are individuals who are more active in community activities and are actively involved in social responsibility efforts. Corporate social entrepreneurs also are more likely to implement social responsibility initiatives based on an organization’s long term objectives.

    While many corporations are looking for ways to increase their social responsibility efforts, in some regions corporate responsibility efforts are not progressing. A policy paper, “Corporate Social Responsibility in Latin America and the Caribbean,” documented that corporate social responsibility activity in this region has “stalled.” The reason for stagnation in this region is “minimal government involvement” and the lack of “private sector involvement.” It was also identified that initiatives to implement programs focusing on social responsibility are often initiated outside of the market, and then subsequently not embraced by stakeholders who reside within this geographic region.

    Corporations are continually looking for ways to increase corporate advantage through their social responsibility efforts. While proponents of corporate social responsibility believe that corporations are obligated morally to engage in efforts to enhance social, community and environmental concerns, many stakeholders believe that social involvement should only be initiated if the efforts are going to strengthen the organization’s image, brand, moral or stock value. With this in mind, corporations have separated social issues into specific categories.

    These categories are social concerns that are general, social concerns that are value chain based and concerns that focus on social dimensions of competitive contrast. Generic social issues are identified as social concerns that do not directly affect the company’s operation and do not have an effect on a company’s competitive advantage. Corporations are least likely to get involved or invest in projects that focus in these areas because they will not receive a high value of return on their involvement. Value Chain Social Impact issues can significantly affect a company’s operation and can have an impact on the way a company conducts business. Corporations are more likely to be involved in value chain concerns, but only after conducting due diligence studies to ensure that a return on investment will be achieved over time.

    Social issues that affect a company’s financial profitability or serve to enhance or increase a company’s competitive edge are likely to be areas that a company will invest in because of the direct impact that these initiatives will have on the company’s overall viability and stability. An example of a social dimension projects is General Electric’s investment in under-performing high schools throughout the country. General Electric believes that through investing financial and professional resources in under-performing high schools in areas where they have substantial financial investment, they are investing in enhancing a community, as well as directly increasing their future employment prospects.

    Whole Foods Market is an organization that has taken control of its social value position through purchasing products from local farmers. Also, Whole Foods maintains strict controls over all of the products produced and sold in all of its locations. They even have extended their social and ecological efforts through offsetting the use of in-store electricity with the installation of wind conversion generators, converting their trucks to operate on bio-fuel and trucking spoiled produce to regionally located compost sites. Though the investments in these technologies may be costly at the onset, the long term financial, civic and market exposure benefits far exceed any initial costs incurred.

    In the area of corporate philanthropy many corporations are at a loss. They continue to be involved in the conflict between philanthropic giving and investor requests for increased profits. For this reason many corporations engage in context-giving programs. Context-giving programs are programs that are defined as allotting resources to specific projects that will enhance the community while simultaneously enhancing the corporation.

    Examples of context-giving initiatives include the Cisco System Networking Academy, which trains computer network administrators and provides job opportunities to those who complete the program; the DreamWorks SKG film production program that trains low-income individuals in occupations that are needed in the film and entertainment industry; and American Express Travel and Tourism Academy which trains high school youth for careers in the hospitality and tourism industry. Corporations that invest in corporate-giving social venture programs are concurrently gaining positive return on their social investment, improving the economic climate of the communities where they are located and gaining positive exposure for their organizations.

    At times social ventures do not have the intended impact on the community. A study focusing on the impact of community focused business ventures found that businesses started with the intent of enhancing a community often lose focus by becoming focused on profitability and competition. Competition and self-focused motivators were identified to be factors that played an additional role in the impact and economic role that entrepreneurial ventures have in community settings.

    While many foundations, trusts and philanthropic organizations, accumulate and distribute resources with the intent of providing services to enhance specific community or social causes, many of these organizations are looking for ways to gain public exposure for their efforts. Organizations also attempt to leverage their gifting efforts through seeking not-for-profit organizations that are willing match the funding received. The success of funded programs is evaluated through performance outcomes and indicators, and through promoting the organization’s work through success stories provided by program clients. These methods are viable ways for funding agencies to acquire value and exposure through their philanthropic efforts and simultaneously continue their efforts to enhance the communities in which they invest.

    With the social philanthropic efforts of Warren Buffet and Bill Gates gaining a high degree of attention, and many leaders engaging in activities to promote social advocacy, corporations are seeking ways to also gain exposure with social entrepreneurship. Social entrepreneurship from the corporate perspective can be defined as corporate social initiatives used by a corporate entity as vehicle to show support for social causes. In recent years, many Fortune 500 companies have implemented social ventures with the intent of enhancing their corporate image through providing funding for various social causes.

    McDonald’s is one such company that has funded social causes for many years. McDonald’s primary social venture is the Ronald McDonald House Charities. The Ronald McDonald House provides lodging for the families of adolescents, ranging in age from birth to 18, who are receiving critical care for illness in communities that are away from their community of residence. The Ronald McDonald House allows families to reside in these temporary living facilities throughout the child’s period of treatment at no charge.

    The Federal Express Corporation also funds programs focused on the implementation of socially responsible programs. FedEx is a supporter of St. Jude’s Children’s Hospital and has been acknowledged by Reader’s Digest as one of “Americas Best Charity Minded Corporation.” Federal Express has also been recognized for providing funding for numerous community and civic organizations, including March of Dimes, Heart to Heart organization, an organization that focuses on delivering food and health resources globally, the United Way and the National Civil Rights Museum. These are just a few of the charitable initiatives that allow Federal Express to present itself as a socially conscious organization.

    Virgin Mobile has partnered with Youth Noise, a not-for-profit organization that brings youth together for networking and brainstorming opportunities, and Stand Up for Kids, the largest all volunteer not-for-profit organizations in the United States, to implement an initiative to expand its corporate social responsibility activities. The project involves recording artists donating ring tones to Virgin Mobile and through partnership agreements, 5% of the proceeds received through ring tone sales are donated to various “Virgin Mobile Charity Partners.” This initiative, established in June 2006, is being positioned to raise over $250,000 annually.

    For social ventures to gain global acceptance, corporations need to become involved in ventures that allow employees and consumers to see the social, community and external benefit of these ventures. This process is identified in countries south of the United States, where the concept of social responsibility is one that has been embraced by many but implemented by few. Many government organizations expect non-government, or private organizations to take responsibility for ensuring the stability and longevity of the resources throughout this region while the private sector is looking toward government agencies for intervention.

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    Source by Paul Van Putten

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  • Comments: Think Like an Entrepreneur

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  • Entrepreneurship and Its Challenges

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    One of the challenges of being an entrepreneur and the reason many dread to venture into it is, “delayed gratification”. The entrepreneur is like a Lone Ranger who is walking through a lonely part. Initially, he’s never noticed. As he’s grinding and working smart towards his goal, people don’t take note of him. He’s laughed at. He’s jeered at. He’s called a fool. But he perseveres with the knowledge that anything good does not come easy. And then somewhere along the line, his efforts begin to yield results. People now begin to take note of him. Those who thought him foolhardy will now come to him to seek his advice. “How did you do it? They will ask. They wish to be like him. But the question is, how many can pay the price that he has had to pay? The life of an entrepreneur is not easy but it pays to be one.

    In your journey of entrepreneurship, focus is key. You need to stay focused in order to keep your desire for success burning.

    Sadly, though, success doesn’t come easy. And because of this reason, a good number of people lose their focus. They lose their focus as long as they are not getting immediate success.

    There is no doubt that today’s successful people have had to face the same pressure to give up on their goals for this same reason.

    To keep staying focused however, you will need to engage in one very important aspect of entrepreneurship. And by that I mean, you need to engage in self -education through studies.

    Whether you are in Network marketing, Direct sales or you are in conventional business, self-development through studies is important for success.

    An average successful person reads at least, sixty books a year. By studying, you learn the skills that will enable you to succeed. You study the experiences of those who have passed through that lonely part before you in order to avoid certain obvious pitfalls. No doubt, you will still experience failures along the way no matter how much you try. But the wealth of knowledge you have garnered from your years of studying and copying successful people will, as a matter of fact, be your guiding principle. It will give you the inner strength to go on and on even when everything seems not to be working for you.

    Be rest assured that to be an entrepreneur in the modern era doesn’t necessarily have to require huge sums of startup capital. The advent of the internet has made it relatively cost-effective.

    Therefore, become an entrepreneur today.

    Stay focused. Act decisively. Seek opportunities. Seek new ideas. Be humble. Learn from your failures. Study people who are successful. Make the most of your time. Above all, cultivate readership attitude for through reading you learn the secrets of success.

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    Source by Sunny Ngene

    Views: 0

  • Market Entrepreneurs and Political Entrepreneurs

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    What is an entrepreneur? Well, in the United States of America there are two types of very successful entrepreneurs. There is the market entrepreneur and there is the political entrepreneur. The market entrepreneur makes money in the free market by delivering the lowest prices and the best quality and service to its customers and the consumer. The market entrepreneur wins markets and beats out the competition because they are better and more efficient.

    The political entrepreneur uses the influence with government through various methods such as lobbying, political campaign contributions and networking with government bureaucrats to either win government contracts and make money or use this influence to get the government to make new rules and regulations and he is industry.

    The political entrepreneur will also use his influence to get government bureaucratic regulatory bodies at all levels of government to attack his competition. There is a big difference in market entrepreneurs and political entrepreneurs. Unfortunately, genuine Capitalism getting clobbered by political entrepreneurs coaxing government agencies to constantly attack market entrepreneurs.

    The economy and the free market and capitalism for that matter works better with the most efficient companies compete on a level playing field where the consumer and the buyer votes with their dollar for the best products and services at the best possible prices. There is nothing wrong with capitalism there is only something wrong with the way it is applied in United States of America. It could be done a lot better.

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    Source by Lance Winslow

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  • Entrepreneurship – Benefits Of Taking An Entrepreneurship Course

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    Are you tired of your regular job? Are you thinking of starting a business of your own? Do you want to enhance your ability to create wealth? Do you want to be your own boss? Do you want to have control over your decisions? Are you a risk taker? Do you have a high expectation of yourself? If the answer to the above questions is yes, then all you need to do is to channel your energy in the right direction.

    While passion is important for any business venture, the know-how is equally important for success. Many entrepreneurs who started out very passionate end up losing steam due to the fact that they do not have the proper entrepreneurial skills to make their business succeed. Entrepreneurship education is therefore key to a business growth and success.

    According to research, entrepreneurship education contributed to the growth of firms especially smaller emerging firms. On average, emerging companies that employed entrepreneurship graduates had greater than five times, the sale and employment growth than those that employed non-entrepreneurship graduates. This means that taking an entrepreneurship course would definitely lead to an increased sale of your product or service.

    In addition, it was observed that larger firms paid entrepreneurship graduates significantly more than they paid non-entrepreneurship graduates. In the United States, entrepreneurship graduates working for large firms earned approximately $23,500 more per year than did other business school graduates. This all goes to show the relative importance of an entrepreneurship education.

    So as an individual seeking to start a business venture, taking an entrepreneurship course would benefit you and your business in the following ways:

    • It will enhance your ability to create wealth from your own business
    • It makes you become a champion of innovation.
    • It gives you the ability to create greater opportunities for yourself with advancing technologies
    • It makes you self-sufficient and enterprising
    • It gives you community understanding skills which is good for your business
    • It enhances your business management skills
    • It gives you an orientation to change that can help your business keep up with the ever changing times
    • It gives you a better understanding of the market economy that your business must thrive in
    • The education obtained leads to your ultimate personal growth
    • Your decision making skills are improved
    • It expands your creative thinking

    As a result of these outlined benefits, many experienced leaders, economists and educators believe that fostering a robust entrepreneurial culture will maximize individual and collective economic and social success on a local and global scale.

    TAKE AN ONLINE ENTREPRENEURSHIP COURSE TODAY

    It is interesting to know that you can take this amazing course online. As an entrepreneur, leaving your business to attend a traditional institution of learning might not fit well with your plans. If that is your situation, then be rest assured that you are covered. With the steady growth of online education, a lot of online institution of repute that offer this course are available to choose from. In fact one unique institution stands out – The Swiss E-learning Institute. Apart fro other amazing benefits you are bound to enjoy, this institute also offers entrepreneurship students the opportunity of earning passive incomes just by enrolling and activating this course. Find out more by visiting the link on the resource box below.

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    Source by Kelechi Nwachukwu

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  • The Age of The Information Entrepreneur

    The Age of The Information Entrepreneur

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    This has been changing rapidly, and now, an increasing number of entrepreneurs are starting to use e-books as a method of catapulting themselves into the limelight, using the option to become influencers, and gain a following through sharing of information. The ones who are quite savvy about how they do this, loop the system back and use their e-books as part of a sales funnel, whether it’s apparent or not.

    It used to be the case that the task of writing a book was tantamount to embarking on a long and arduous journey, that required long periods of time, great planning and dedication, an agent, the approval and acceptance of a publishing house, and more. This is no longer the case… Anyone who has wanted to write, can… and you can get your book published and ready to sell in less than 48 hours after it’s written. And no, it doesn’t take a great level of skill or any secret or specialised knowledge… I’ve done it, and have helped others do the same just by following a few simple steps, and using more simple steps have gotten books to #1 ranking spots – for some of them, without even a review to reassure buyers, (though I wouldn’t recommend this). So, if it’s that easy, why isn’t everyone doing it, and why aren’t all entrepreneurs who have published online have booming businesses?

    Well, in the answer lies what’s key… it’s not enough to simply write, what’s important is that you write content that others will find useful, and want to read, and more than that, essential for success is using that content in the right way. Let me expand…

    1) Whatever your entrepreneurial niche, learn what it is that people want to know more about.

    2) Write about this, keep it clear and simple… often short guides will get you further than long, complicated books.

    3) Publishing is easy, get your books on Amazon.

    4) Consider discounts and freebies… remember, it’s about exposure, publicity, and looping people back to you!

    5) Build up a database of everywhere you can promote your books. Take the time to research the social media groups, blogs etc. Ensure that they’re appropriate to your niche.

    6) Take the time to promote your discounts and freebies, and be honest and genuine about what your book delivers, and why people should get it.

    7) In your books, direct people to your website, subscriptions, other books etc.

    8) Always OFFER QUALITY & VALUE, and when you are looping people back to you, it should be to offer more value. Don’t use your books as a hook, only to steer people to an offer that isn’t worth the money or time they part with in exchange for it.

    9) The more quality and value you offer, the more repeat customers you’ll gather.

    10) Include snippets and tasters of your content on social media, blogs, forums etc.

    11) Repeat… remember, if you are choosing to be an influencer through information, you have to keep at it.

    And that’s it, in a nutshell! It is an era when anyone can be an author, so use your knowledge to your advantage!

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    Source by Noleen Mariappen

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  • Qualities of an Entrepreneur

    Qualities of an Entrepreneur

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    So, who exactly is an entrepreneur, what are the qualities of an entrepreneur? … well Wikipedia says, "An entrepreneur is a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome "… umm … okay but I would rather say, that an ideal entrepreneur is a person who guides a manpower in order to apply an idea (doesn't matter if it's his or of someone else and whether it is new or old) to satisfy those who need the benefits produced by it, which results in financial results or profits.

    So the basic characteristics or qualities of an entrepreneur would be:

    – He or she should have an Idea (again, irrespective of who originally thought of it and whether it is new or old).

    – He or she should have the motivation / urge to pursue or apply the idea.

    – He or she should have access to manpower or to the ability to make manpower accessible to him (marketing skills apply here).

    – He or she should be a good leader.

    But then, there are other kinds of people too who have some or many of the above mentioned qualities; but we don't call them Entrepreneur. A good example of such an individual could be a scientist. Scientists do have ideas or, in other words, they can actually create ideas. They are definitely excited or motivated about pursuing their ideas and no doubt, they are good leaders as well and they, for sure have access to at least minimal manpower (No, most scientists don't work in solitude as shown in movies like Robin Williams 'Flubber or Frankenstein, they have at least 2-10 people working under them as junior scientists). But then why don't we call a scientist an entrepreneur as well? Is he an exception to the above definition? … food for thought huh?

    And how about a dictator? He has his own or borrowed ideas, He wants to apply them, he has access to man power, can guide them very well … in fact, they will do almost anything he wants. So, does that mean, a dictator is an entrepreneur or, an entrepreneur is a dictator !!

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    Source by Dee Byrd

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  • New Book Offers Daily Lessons for Developing Entrepreneurial Mindset

    New Book Offers Daily Lessons for Developing Entrepreneurial Mindset

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    In The Entrepreneurial Way, Jacob Busani takes readers on a one-month journey through the world of entrepreneurship. Each chapter is to be read on a different day over the course of thirty days, and each day is devoted to a different topic relevant to being an entrepreneur. The book is intended for the busy person who may only have five or ten minutes a day to read, so each chapter is only a few pages long, but it brings a topic to the forefront of the reader’s mind, offers inspirational quotes to support the topic, and then a series of exercise questions so the reader can take action on that day’s topic.

    The book opens with what may be the most important topic of all: Mindset. Busani begins by quoting Henry Ford’s famous saying, “Whether you think you can or you think you can’t, you’re right.” Busani says Ford was absolutely right in this statement. If we wish to be entrepreneurs, we must take control of our minds. We have to believe we can be entrepreneurs and we have to learn to be our own bosses.

    Numerous other topics follow. For example, Day 2 is about Vision. In it, Busani describes the importance of communicating to customers why you do what you do so you can bring the best experience to your customers. Day 8: No Guarantees discusses the importance of working because you are passionate about what you do and you believe in your business. Busani reminds entrepreneurs that, especially in the beginning, 80 percent of what they do they will not be paid for, but those who will only do what they get paid for never get rich. If you put in the time to build your business, eventually you will reap the rewards. One of the most important topics is Day 10: Focus. Here, Busani dismisses the myth of multitasking because it destroys focus and also results in tasks taking more time. He instead tells us to focus on one task at a time if we want to make progress on our goals and manage our time properly. Other daily topics include Day 13: Commitment, Day 15: Procrastination, and Day 25: Leadership, where Busani recommends, “Always say, ‘I want my people to win more than I want them to win for me.’ That’s valuable. There’s a lot of ROI (return on investment) in seeing your people succeed. Sometimes, it means having them leave the company to seek their own passions.”

    Some statements like that last one may be surprising, but as a former manager of a call center and as an entrepreneur myself for a dozen years, I completely agree with Busani. The more you support your employees, the happier and more prosperous everyone will be. Therefore, I appreciate that throughout these pages, Busani offers practical and honest advice, based on experience, that will definitely benefit anyone who embraces it.

    Embracing and applying the material is made easy for readers because each day is followed by a short exercise. The exercises help readers think through what they have learned from that day’s lesson and move forward into taking action to succeed as an entrepreneur. For example Day 20: Finding the Right Mentor asks you to think about in what ways a mentor might help you. Then it asks you to list five mentors in your field and do some research on each of them to see how they might assist you. Day 26: Residual Income asks you to brainstorm ways you could come up with residual income and then outline a plan for doing so. None of the exercises are overly taxing on the brain, but rather, they set the brain to thinking in an entrepreneurial way, and ultimately, the result will be that such thinking will become habitual.

    Finally, each chapter ends with several wonderful inspirational quotes. Yes, Busani quotes famous people like Thomas Jefferson, who said, “I find that the harder I work, the more luck I seem to have” and Mark Twain: “Keep away from small people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you too can become great.” But my two favorite quotes in the book are actually both by Anonymous: “You can’t have a million-dollar dream with a minimum wage work ethic,” and “No matter how busy you are, or how busy you think you are, the work will always be there tomorrow, but your friends might not be.” Yes, work/life balance is also a topic in The Entrepreneurial Way-and one of the most important for entrepreneurs who tend to be workaholics.

    I encourage you to take the journey of The Entrepreneurial Way. Because reading this book and applying its concepts will only take you five or ten minutes per day, your investment will be minimal, but the return on that investment will likely be beyond measure.

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    Source by Tyler Tichelaar

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